YADKIN FINANCIAL Corp 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: October 24, 2007
Yadkin Valley Financial Corporation
Issuers telephone number: (336) 526-6300
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
This document contains 2 pages, plus exhibit
Item 2.02. Disclosure of Results of Operations and Financial Condition
Yadkin Valley Financial Corporation, (the Company) Elkin, NC (NASDAQ: YAVY news), the holding company for Yadkin Valley Bank and Trust Company (the Bank), reports earnings of $3.92 million for the quarter ended September 30, 2007, an increase of 7.8% as compared with earnings of $3.64 million for the same quarter of 2006. Diluted earnings per share (EPS) were $0.37 and $0.34 for the quarters ended September 30, 2007 and 2006, respectively, an increase of 8.8%. Return on equity (ROE) was 11.9% for the quarter ended September 30, 2007, down from 12.1% for the quarter ended September 30, 2006, and return on tangible equity (ROTE) decreased to 16.7% from 17.7% over the same periods.
Item 9.01(d): Exhibits
Exhibit 99: Press Release
Pursuant to the requirements of the Securities Exchange Act of 1934, the Bank has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.