Business

Yadkin Bank posts $16.3 million in net income in third quarter

Raleigh-based Yadkin Financial, the corporate parent of Yadkin Bank, generated $16.3 million in net income, or 32 cents per share, in the third quarter.

That marked a decline from the $17.4 million, or 34 cents per share, in net income that Yadkin realized in the second quarter.

Yadkin’s quarterly results, announced after the markets closed Wednesday, aren’t comparable to a year ago because in March the company completed its acquisition of Greensboro-based NewBridge Bank and its 42 branches. Today Yadkin has 100 branches in North and South Carolina.

Yadkin agreed to be acquired by Pittsburgh-based FNB Corp. for $1.4 billion in July.

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