M&A Deal Summary

Yadkin Financial Acquires American Community Bancshares

On September 10, 2008, Yadkin Financial acquired financial services company American Community Bancshares for 92M USD

Acquisition Highlights
  • This is Yadkin Financial’s 2nd transaction in the Financial Services sector.
  • This is Yadkin Financial’s 3rd largest (disclosed) transaction.
  • This is Yadkin Financial’s 2nd transaction in the United States.
  • This is Yadkin Financial’s 2nd transaction in North Carolina.

M&A Deal Summary
Date 2008-09-10
Target American Community Bancshares
Sector Financial Services
Buyer(s) Yadkin Financial
Deal Type Add-on Acquisition
Deal Value 92M USD

Target

American Community Bancshares

Charlotte, North Carolina, United States
American Community Bancshares, Inc is the parent of American Community Bank, a North Carolina state-chartered bank with nine offices in Union and Mecklenburg Counties, North Carolina and four offices in York and Cherokee Counties, South Carolina. As of June 30, 2008, the Bank had $530 million in assets, $406 million in loans, $417 million in deposits and $56 million in stockholders' equity.

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Buyer(S) 1

Buyer

Yadkin Financial

Raleigh, North Carolina, United States
Category Company
Founded 1968
Sector Financial Services
Employees822
Revenue 261M USD (2016)
DESCRIPTION

Yadkin Financial Corporation is the holding company for Yadkin Bank, a full-service statechartered community bank providing services in 100 branches across North Carolina and upstate South Carolina. Serving approximately 130,000 customers, Yadkin has assets of $7.5 billion. Yadkin Bank's primary business is providing banking, mortgage, investment and insurance services to residents and businesses across the Carolinas. Yadkin Bank provides mortgagelending services through its mortgage division, Yadkin Mortgage, headquartered in Winston-Salem, NC.

DEAL STATS #
Overall 2 of 4
Sector (Financial Services) 2 of 4
Type (Add-on Acquisition) 2 of 3
State (North Carolina) 2 of 4
Country (United States) 2 of 4
Year (2008) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-08 Cardinal State Bank

Durham, North Carolina, United States

Cardinal State Bank is a provider of commercial and retail banking services to individuals and small to medium-sized businesses in North Carolina. Company operates three offices in Durham (Durham County) and one office in Hillsborough (Orange County).

Buy $42M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-27 VantageSouth Bancshares

Raleigh, North Carolina, United States

VantageSouth Bank is a state chartered bank operating 45 banking offices serving the Piedmont and coastal markets of North Carolina.

Buy $299M
Mergr

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