Yadkin Financial, VantageSouth to merge

Yadkin Financial and VantageSouth Bancshares announced plans to merge Monday in a deal that would create North Carolina's largest community bank.

The $299 million deal would create a bank with $4 billion in assets.

"This transaction creates significant value for the shareholders of both companies, provides greater convenience and services for our customers, and transforms the banking landscape in the Carolinas," Yadkin CEO Joe Towell said in a statement. "We will have meaningful presence in major markets across the state including Charlotte, Raleigh-Durham, Greenville, and Wilmington while continuing our focus on our community markets."

Check out the full story on CharlotteObserver.com for more information.

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