Businessweek

Union%20Bank%20%26%20Trust%20Company%20%28Oxford%2C%20NC%29%20entered%20into%20purchase%20and%20assumption%20agreement%20to%20acquire%20branch%20in%20Creedmoor%20from%20Yadkin%20Valley%20Financial%20Corp.%20on%20March%2021%2C%202013.%20Union%20Bank%20will%20purchase%20the%20branch%2C%20with%20transition%20activities%20to%20take%20place%20over%20the%20next%2090%20days.%20All%20current%20branch%20employees%20will%20become%20employees%20of%20Union%20Bank%20at%20the%20closing%20of%20the%20branch%20sale%20in%20late%20second%20quarter%20of%20this%20year.%20All%20loans%20and%20deposits%20will%20transfer%20to%20Union%20Bank%20at%20that%20time%20as%20well.%20Keefe%2C%20Bruyette%2C%20%26%20Woods%2C%20Inc.%20acted%20as%20financial%20advisor%2C%20Nelson%2C%20Mullins%2C%20Riley%2C%20and%20Scarborough%2C%20LLP%20acted%20as%20legal%20advisor%20to%20Yadkin%20Valley.%20Banks%20Street%20Partners%2C%20LLC%20acted%20as%20financial%20advisor%20and%20Wyrick%2C%20Robbins%2C%20Yates%2C%20%26%20Ponton%2C%20LLP%20served%20as%20legal%20advisor%20to%20Union%20Bank.

Union%20Bank%20%26%20Trust%20Company%20%28Oxford%2C%20NC%29%20entered%20into%20purchase%20and%20assumption%20agreement%20to%20acquire%20branch%20in%20Creedmoor%20from%20Yadkin%20Valley%20Financial%20Corp.%20on%20March%2021%2C%202013.%20Union%20Bank%20will%20purchase%20the%20branch%2C%20with%20transition%20activities%20to%20take%20place%20over%20the%20next%2090%20days.%20All%20current%20branch%20employees%20will%20become%20employees%20of%20Union%20Bank%20at%20the%20closing%20of%20the%20branch%20sale%20in%20late%20second%20quarter%20of%20this%20year.%20All%20loans%20and%20deposits%20will%20transfer%20to%20Union%20Bank%20at%20that%20time%20as%20well.%20Keefe%2C%20Bruyette%2C%20%26%20Woods%2C%20Inc.%20acted%20as%20financial%20advisor%2C%20Nelson%2C%20Mullins%2C%20Riley%2C%20and%20Scarborough%2C%20LLP%20acted%20as%20legal%20advisor%20to%20Yadkin%20Valley.%20Banks%20Street%20Partners%2C%20LLC%20acted%20as%20financial%20advisor%20and%20Wyrick%2C%20Robbins%2C%20Yates%2C%20%26%20Ponton%2C%20LLP%20served%20as%20legal%20advisor%20to%20Union%20Bank.

An%20unknown%20buyer%20acquired%20mortgage%20reinsurance%20line%20of%20business%20of%20Yadkin%20Valley%20Financial%20Corp.%20%28NasdaqGS%3AYAVY%29%20in%20the%20fourth%20quarter%20of%202012.

Wellington%20Hedge%20Management%20LLC%20through%20its%20fund%2C%20Ithan%20Creek%20Master%20Investors%20%28cayman%29%20L.P.%2C%20acquired%205.26%25%20stake%20in%20Yadkin%20Valley%20Financial%20Corp.%20%28NasdaqGS%3AYAVY%29%20on%20January%207%2C%202013.%20Wellington%20Management%20acquired%20approximately%202.3%20million%20shares%20of%20Yadkin%20Valley.