Yadkin Valley Financial, Union Bank & Trust Announce Branch Purchase Deal

Yadkin Valley Financial Corporation

, the holding company for Yadkin Valley Bank & Trust, and Union Bank & Trust Company announced today the execution of a Purchase and Assumption agreement for the purchase of the Cardinal State Bank branch in Creedmoor, North Carolina. Cardinal State Bank is a division of Yadkin Valley Bank & Trust. Union Bank will purchase the branch from Yadkin Valley, with transition activities to take place over the next 90 days. All current branch employees will become employees of Union Bank at the closing of the branch sale in late second quarter of this year. All loans and deposits will transfer to Union Bank at that time as well.