NewBridge Bank
Your Way Forward
|
|
| Industry | Banking |
|---|---|
| Fate | Merged with Yadkin Financial |
| Predecessor | Lexington State Bank, FNB Southeast |
| Founded | 2007 |
| Defunct | 2016 |
| Headquarters | Greensboro, North Carolina, USA |
|
Number of locations
|
40 |
|
Key people
|
Pressley A. Ridgill, President & Pressley A. Ridgill (CEO) |
| Products | commercial banking, trust services, financial planning |
| Services | Finance, Investments, and Insurance |
| Revenue | US$ 21.53 million (Q2 2013) |
| US$ 11.6 million (Q2 2013) | |
| Total assets | US$ 1.2 billion (Q2 2013) |
|
Number of employees
|
594 |
| Website | www |
NewBridge Bank is a banking company based in Greensboro, North Carolina, with locations in North Carolina and Virginia. The company formed from the merger of Lexington State Bank and FNB Southeast in November 2007. NewBridge Bank is the banking subsidiary of NewBridge Bancorp (NASDAQ: NBBC). NewBridge Bank has 44 branches, total assets of about $2.7 billion and total deposits of about $2 billion. Its branches are mainly centered on the North Carolina regions of the Piedmont Triad and the Lower Cape Fear.
Lexington State Bank (commonly known as "LSB") was founded in Lexington, North Carolina in 1949 by Dr. J. A. Smith, a physician, founder of Lexington Hospital, Chairman of the Lexington Utilities Commission, and two-term North Carolina Representative. Shares of the company were sold to citizens of Davidson County who were willing to buy them. The first banking office opened in uptown Lexington's Courthouse Square on July 5, 1949, one day after Independence Day. Dr. Smith became the new bank's President and Chairman of the Board. Assets at the close of business on December 31, 1949, totaled $1,845,680.82, including loans and discounts of $799,626.92. Liabilities included deposits of $1,602,541.59 and other liabilities of $22,201.84, capital of $150,000 and surplus of $70,937.39.
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