NC Bank Agrees to Buy Mortgage Company

Yadkin Valley Bank and Trust Co., Elkin, N.C., has announced an agreement to acquire Sidus Financial LLC, a privately owned mortgage company based in Greenville, N.C.The terms of the deal were not disclosed. Sidus Financial was formed in 1999 by an investment group that included several North Carolina community banks, Yadkin Valley said. It has five retail mortgage origination offices in North Carolina that operate under the name First Mortgage Corp., and a wholesale operation in Richmond, Va., under the name Sidus Wholesale. Sidus Financial's main focus is offering mortgage consultation and back-office support in buying mortgage loans from community banks, Yadkin Valley said. The bank can be found on the Web at http://www.yadkinvalleybank.com.