NewBridge Bank
| Company type | Subsidiary |
|---|---|
| Industry | Banking |
| Founded | 2007 |
| Headquarters | Greensboro, North Carolina , United States |
Area served | North Carolina, Virginia |
| Products | Banking services |
| Parent | NewBridge Bancorp |
NewBridge Bank was a financial institution headquartered in Greensboro, North Carolina, operating branches throughout North Carolina and Virginia. The bank ceased using the NewBridge name following its consolidation with another entity. It originated from the 2007 union of Lexington State Bank and FNB Southeast. As a subsidiary of NewBridge Bancorp (), the bank maintained 44 branches, with assets approximating $2.7 billion and deposits close to $2 billion. Its branch network mainly served the North Carolina areas of the Piedmont Triad and Lower Cape Fear.
Lexington State Bank
Lexington State Bank (LSB) was established in 1949 in Lexington, North Carolina by Dr. J. A. Smith, who was notable as a physician, hospital founder, utilities board chairman, and state legislator. Initially, shares were sold to residents of Davidson County. The inaugural branch opened on July 5, 1949, and by the end of that year, the bank's assets reached $1.85 million. Dr. Smith held the roles of President and Chairman.
In April 1962, LSB moved its headquarters to "LSB Plaza" in Lexington, which expanded alongside the bank's growth. The holding company was created in 1983, and in 1985, LSB launched its first around-the-clock ATM at Lexington Hospital.
In July 1997, Old North State Bank from Winston-Salem merged into LSB, with the combined institution continuing under the LSB name. At its height, LSB operated 29 branches throughout the Piedmont Triad area—including Davidson, Stokes, Forsyth, Guilford, and Randolph counties—and was owned by LSB Bancshares, Inc.
On May 23, 2011, Union First Market Bankshares Corporation finalized the purchase of a NewBridge Bank branch located at 440 South Main Street in Harrisonburg, Virginia.
FNB Southeast
FNB Southeast operated as a subsidiary of FNB Financial Services Corporation and was headquartered in Reidsville, North Carolina. Founded in 1910, it offered community banking services across both North Carolina and Virginia.
NewBridge Bank
On February 27, 2007, Lexington State Bank declared its intention to merge with Greensboro-based FNB Southeast, which had comparable asset size. Stockholders approved this merger on July 31, 2007, resulting in the formation of the sixth largest bank in North Carolina. The new entity began operating publicly as NewBridge Bank on November 13, 2007.
Union First Market Bank acquired NewBridge’s branch in Harrisonburg, VA on May 20, 2011.
On October 1, 2013, NewBridge completed its purchase of Security Savings Bank in Southport, North Carolina, adding six branches and enhancing its footprint within the Wilmington, North Carolina area.
NewBridge announced a merger with Raleigh-based CapStone Bank, which held assets totaling $381.6 million; this $63.6 million transaction closed on April 1, 2014. Following this merger, NewBridge managed assets worth $2.4 billion across 40 locations.
During a shareholder meeting in 2014, NewBridge revealed plans to extend operations into Virginia and South Carolina markets.
On March 2, 2015, NewBridge acquired Premier Commercial Bank for $19.8 million. Established in 2008 with $168 million in assets at acquisition time, Premier operated one branch in Greensboro along with several mortgage offices throughout the region.
On October 13, 2015, NewBridge announced a planned $456 million merger with Yadkin Financial, aiming for completion by mid-2016. The combined organization would have held $7.1 billion in assets and operated 112 branches. Although Yadkin had limited reach within the Piedmont Triad, NewBridge maintained 28 branches there. However, Yadkin’s subsequent acquisition by FNB Corporation postponed and ultimately terminated the merger integration; subsequently, NewBridge locations were rebranded under FNB Corporation alongside existing Yadkin branches.