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| Yadkin Valley Bank & Trust Company |
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History:
Yadkin Valley Bank and Trust Company is a $2.1 billion state-chartered bank, headquartered in Elkin, North Carolina. The Bank’s primary business is providing banking, mortgage, investment and insurance services to residents and businesses across the Carolinas. Its climb from humble origins to one of the most successful community banks in the Carolinas remains a source of tremendous pride for its founders, employees and 60,000 customers.
The inspiration for our bank started in a small room in Elkin, North Carolina over 40 years ago. In 1967, five local business leaders met to discuss the feasibility of opening a new bank that would offer local residents and merchants another banking option in their community. They wanted to create a “community-oriented” bank, staffed by respected local bankers who understood the financial needs of area residents and held an unwavering commitment to delivering superior personal service and helpful financial solutions. Of equal importance, they wanted to create a bank that viewed itself as an integral part of the community, dedicated to the growth and betterment of their town. The following year, their dream was realized.
With mounting support, the bank opened for business in Elkin on October 16, 1968. Since the town of Elkin is located along the banks of the Yadkin River (which forms a wide-reaching geographic valley), the name "Yadkin Valley Bank" was adopted for the new company. Interestingly, the word "Yadkin" is of Native American Indian descent and translates as "valley of tall trees."
An immediate success with local residents, the bank expanded to Yadkin County in 1971, opening its second branch in Jonesville. By 2000, the Bank had added two additional offices in Wilkes County (North Wilkesboro and Wilkesboro), two offices in Ashe County (West Jefferson and Jefferson), a second office in Yadkin County (East Bend) and another office in Elkin (Surry County), pushing its footprint to eight area offices.
In July 2002, the Bank purchased Piedmont Bank, a rapidly growing community bank that had made significant inroads within the prosperous I-77 & Lake Norman corridor during its five year tenure. Piedmont Bank opened its first branch in Statesville, North Carolina on July 1, 1997. At the time of the merger, Piedmont Bank was comprised of six offices: four in Iredell County (two in Mooresville and two in Statesville) and two in Mecklenburg County (Cornelius and Huntersville). The merger not only provided the bank with greater operating efficiencies, but began a union of neighboring community banks sharing a steadfast commitment to delivering outstanding service and quality financial services.
In January 2004, the company acquired High Country Bank in Watauga County, another successful community bank headquartered in Boone. High Country Bank opened its first branch in the fall of 1998, and within a few years, had four thriving offices in Boone. In August 2005, following the merger, High Country Bank opened a fifth office in nearby Linville (Avery County).
In the meantime, Yadkin Valley Bank had continued its expansion, opening a third office in Ashe County (West Jefferson in 2004) and a third office in Yadkin County (Yadkinville in 2005). In April 2007, Yadkin Valley Bank opened a branch in Pfafftown, the bank's first foray into Forsyth County and its 11th full-service office. By this time, Piedmont Bank had also opened a third office in Statesville and a third office in Mooresville, increasing its branch network to eight offices.
In March 2008, the company added Cardinal State Bank, headquartered in Durham, North Carolina, to its rapidly expanding banking family. Cardinal State Bank was chartered in June 2001 and has five (5) full-service branches serving Durham (3), Orange and Granville Counties.
Most recently (April 2009), the Bank acquired American Community Bank, headquartered in Monroe, North Carolina. The addition of American Community Bank added thirteen (13) full-service branches in Mecklenburg and Union Counties in North Carolina and York and Cherokee Counties in South Carolina. With the completion of this merger, the banking company eclipsed over $2.0 billion in assets with 42 offices serving over 60,000 customers.
In addition to growing its banking network, the Bank also created a brokerage subsidiary (1999), started an insurance division within the bank, and acquired a mortgage company (2004). These additions provided our valued customers with convenient “one-stop” shopping for virtually all of their financial needs.
Piedmont Insurance Services
Main Street Investment Services, Inc.
Sidus Financial, LLC (Mortgage)
Despite its growth and success, our company has held firmly to the principles on which it was founded. As a bank, we strive to provide exemplary service and affordable products. As a member of the community, we remain fully committed to generously “giving back” to those that have made us such a strong and secure banking institution. Not only does the bank contribute to numerous community causes and initiatives each year, but our employees are active volunteers and civic leaders, supporting numerous charitable organizations and community projects. In summary, we are a growing financial company that truly cares about the communities we serve and we will continue to hold steadfast to the ideals that have led to our success. |
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