Lightyear Capital-backed Yadkin Financial Corp, a full-service state-chartered community bank, acquired NewBridge, a $2.8bn community-focused bank headquartered in Greensboro, North Carolina, for $456m. Scott M. Custer, YDKN's President and Chief Executive Officer, stated, "We are excited about our merger with NewBridge, which strengthens Yadkin's leading position as the largest community bank in North Carolina. Our combined statewide presence coupled with our shared commitment to providing best in class service uniquely positions our franchise to grow as the premier community bank in the state. The merger will also increase our presence in South Carolina with the addition of offices in the Greenville-Spartanburg and Charleston markets."