SOURCE: Yadkin Valley Financial Corporation

March 16, 2007 16:31 ET

Yadkin Valley Financial Corporation Announces First Quarter Dividend of 12 Cents Per Share

ELKIN, NC -- (MARKET WIRE) -- March 16, 2007 -- The Board of Directors of Yadkin Valley Financial Corporation (NASDAQ: YAVY) announced today a regular first quarter cash dividend of 12 cents per share that provides an annualized return of 2.46% based on Thursday's closing price of $19.49 per share. The first quarter dividend represents the 77th consecutive quarterly dividend as well as the fourth consecutive dividend at 12 cents per share. Payment will be made on April 27, 2007 to shareholders of record on April 9, 2007.

Yadkin Valley Financial Corporation and its wholly owned subsidiary, Yadkin Valley Bank and Trust Company ("the bank"), are headquartered in Elkin, North Carolina. The bank serves customers from twenty-three full-service banking offices located in the piedmont, foothills and northwest mountains of North Carolina. Offices located in Jefferson and West Jefferson (Ashe County), Elkin (Surry County), North Wilkesboro and Wilkesboro (Wilkes County), and East Bend, Jonesville, and Yadkinville (Yadkin County) are operated under the Yadkin Valley Bank name. Offices in Mooresville and Statesville (Iredell County), and Cornelius and Huntersville (Mecklenburg County) are operated under the assumed name "Piedmont Bank." Offices in Boone (Watauga County) and Linville (Avery County) are operated under the assumed name "High Country Bank." Sidus Financial, LLC, a wholly owned subsidiary of the bank with headquarters in Greenville, North Carolina, provides mortgage banking services to customers in North Carolina, South Carolina, Georgia, Alabama, Florida, Maryland, Kentucky, Louisiana, Virginia, West Virginia, Pennsylvania, Delaware, Tennessee, Arkansas, and Mississippi.

This news release contains forward-looking statements. Such statements are subject to certain factors that may cause the Company's results to vary from those expected. These factors include changing economic and financial market conditions, competition, ability to execute our business plan, items already mentioned in this press release, and other factors described in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's judgment only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events and circumstances that arise after the date hereof.

Contact Information

  • For additional information contact:
    Edwin E. Laws
    Chief Financial Officer
    (336) 526-6313