Yadkin Valley Bank and Trust (NASDAQ: YAVY) is a regional bank operating in the northwestern and Piedmont sections of North Carolina. The bank is headquartered in Elkin, North Carolina.
The original bank was opened in 1968. However, in the last three years Yadkin Valley Bank has grown significantly by the acquisition of two other regional banks (Main Street Bankshares, Inc. in June 2002, operating as "Piedmont Bank", and High Country Financial Corporation in January 2004, operating as "High Country Bank") and a mortgage broker (Sidus Financial LLC in October 2004), as well as opening new branch locations. Piedmont Bank and High Country Bank were reorganized as divisions of Yadkin Valley Bank but maintained their names and logos. Sidus remains as a wholly owned subsidiary.
Yadkin Valley Bank and its divisions operate 23 full-service branch locations and as of December 31, 2005, achieved a milestone in the bank's history by reaching the US$1 billion mark in total assets for the first time.
On July 1, 2006, the company reorganized into a holding company, becoming Yadkin Valley Financial Corporation.
Read more about Yadkin Valley Bank And Trust: Recent Acquisitions
Famous quotes containing the words valley, bank and/or trust:
“Jugful of milk! It was yours years ago
when I lived in the valley of my bones,
bones dumb in the swamp. Little playthings.”
—Anne Sexton (1928–1974)
“The prairies were dust. Day after day, summer after summer, the scorching winds blew the dust and the sun was brassy in a yellow sky. Crop after crop failed. Again and again the barren land must be mortgaged for taxes and food and next year’s seed. The agony of hope ended when there was not harvest and no more credit, no money to pay interest and taxes; the banker took the land. Then the bank failed.”
—Rose Wilder Lane (1886–1968)
“He will calmly front the morrow in the negligency of that trust which carries God with it, and so hath already the whole future in the bottom of the heart.”
—Ralph Waldo Emerson (1803–1882)