Yadkin is a community bank with over 70 full-service banking locations in North Carolina and South Carolina, including a meaningful presence in the key North Carolina markets of Charlotte, Raleigh-Durham, Winston-Salem and Greenville.
The combined company is led by CEO, Scott Custer, who previously was CEO of Piedmont Community Bank Holdings, Inc..
Industry Knowledge & Network
Stone Point had a long pre-existing relationship with Adam Abram, who had led the formation of Yadkin’s predecessor and then recruited Scott Custer to run Yadkin. Additionally, Stone Point had pursued a similar community bank strategy in several other regions throughout the U.S. before partnering with Yadkin.
Introduction to Clients & Partners
In accordance with passivity rules, Stone Point facilitated networking events for community bank executives from various parts of the country to share best practices.
Stone Point assisted Yadkin’s management team with target bank due diligence and advised management with respect to transaction structuring and financing.
Capital Raising & Structuring
Equity backstop for stock required to repay TARP of acquisition target enhanced execution of equity capital raise.
Operational Assistance & Governance
Stone Point was an active member of the company’s Board and various committees.
Stone Point was instrumental in Yadkin’s merger into a large public company.
Our relationship with the Stone Point team was more than just business. It was a partnership. During our six years together, we bought six companies and each transaction came with its own complexity. The advice and counsel we received from the Stone Point team was critical to our success. As CEO, I always felt supported by the team.
Scott Custer is not currently an investor in any Stone Point funds. Scott Custer has, and may have in the future, other business relationships with Stone Point and its affiliates. This includes Scott Custer’s role as Chief Executive Officer for Yadkin, which is a former portfolio company of Trident IV.
Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.