Yadkin Valley Bank Shareholders Approve Stock Repurchase Plan, CEO Retirement Plans Announced

Apr 27, 2001, 01:00 ET from Yadkin Valley Bank

    ELKIN, N.C., April 27 /PRNewswire/ --
     Yadkin Valley Bank and Trust Company (Nasdaq-NM: YAVY) announced today
 that shareholders approved at the annual shareholders meeting a repurchase
 plan for up to 250,000 shares of common stock beginning May 1, 2001.  The
 existing stock repurchase authority for 200,000 shares expires April 30, 2001.
     Hal M. Stuart, Chairman of the Board, announced to shareholders that CEO
 James N. Smoak and the Board of Directors have reached an agreement setting
 Mr. Smoak's retirement date at June 30, 2002.  Dr. Stuart indicated the Board
 is committed to finding a successor CEO who will continue Yadkin Valley Bank's
 history of strong community bank performance.
 
     FOR ADDITIONAL INFORMATION CONTACT:
 
     Lestine H. Hutchens
     Vice President
     336-526-6312
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X48823737
 
 

SOURCE Yadkin Valley Bank
    ELKIN, N.C., April 27 /PRNewswire/ --
     Yadkin Valley Bank and Trust Company (Nasdaq-NM: YAVY) announced today
 that shareholders approved at the annual shareholders meeting a repurchase
 plan for up to 250,000 shares of common stock beginning May 1, 2001.  The
 existing stock repurchase authority for 200,000 shares expires April 30, 2001.
     Hal M. Stuart, Chairman of the Board, announced to shareholders that CEO
 James N. Smoak and the Board of Directors have reached an agreement setting
 Mr. Smoak's retirement date at June 30, 2002.  Dr. Stuart indicated the Board
 is committed to finding a successor CEO who will continue Yadkin Valley Bank's
 history of strong community bank performance.
 
     FOR ADDITIONAL INFORMATION CONTACT:
 
     Lestine H. Hutchens
     Vice President
     336-526-6312
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X48823737
 
 SOURCE  Yadkin Valley Bank