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Yadkin Valley Financial to acquire Cardinal State Bank

Yadkin Valley Financial, the holding company for Yadkin Valley Bank and Trust Company, has announced that it expects the merger of Cardinal State Bank with and into the bank to be completed during the first quarter of 2008.

Bill Long, president and CEO of Yadkin Valley Financial, stated: Although the closing date has been delayed from the original schedule, our enthusiasm and support for the Cardinal acquisition remains strong. The Cardinal market will expand the company’s footprint to the east and will further diversify the demographics of our customer base by moving into growth markets in Durham and Orange Counties.

John Mallard and his team at Cardinal continue to work with our team toward a smooth transition following the acquisition.