With capital raised, troubled assets sold, and enduring profitability seemingly on the horizon, Yadkin Valley Financial Corp. could soon be looking for a buyer.
At least that's the take from bank analysts at financial services firm Keefe, Bruyette and Woods, which added the Elkin-based bank to its potential sellers list this week.
"They’re in the 7th or 8th inning of the turnaround there. I think they’re back to profitability from here on out. Their capital issue is resolved," KBW analyst Brady Gailey said. "That’s why you might see that board decide to explore alternatives sometime in the next year or two. There are a lot more buyers would be interested in it now that it’s a lot cleaner of a bank."
He said banks like SCBT, Park Sterling and Capital Bank could be interested in buying Yadkin Valley.
Yadkin Valley Financial has 34 branches in the Piedmont and mountain regions of North Carolina and in York and Cherokee counties in South Carolina. It runs American Community Bank in the Charlotte area.
Thursday, February 21, 2013
Will Yadkin Valley Financial look for a buyer?
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1 comments:
Andrew, you either can't read a balance sheet, naive or had somebody blowing smoke up your pants if you think that pig is worth a dime. And what bank has real capital to buy anybody, absent the Feds flow of funds?
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