PARENT COMPANY FINANCIAL DATA

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

PARENT COMPANY FINANCIAL DATA

PARENT COMPANY FINANCIAL DATA

The tables below present the parent company condensed balance sheets, statements of operations, and statements of cash flows for the periods indicated. Yadkin Financial Corporation is currently the parent company for its primary operating subsidiary, Yadkin Bank. Since Piedmont was the accounting acquirer in the Mergers, periods prior to the Mergers reflect Piedmont's parent company-only balances.

Parent Company

Condensed Balance Sheets

	December 31, 2014		December 31, 2013
Assets:
Cash and due from banks	$	2,825	$	631
Investment securities available for sale	1,069		—
Investment in subsidiaries	615,570		140,233
Deferred tax asset, net	650		—
Other assets	2,286		19
Total assets	$	622,400	$	140,883
Liabilities and Shareholders' Equity:
Long-term debt	$	62,481	$	—
Accrued interest payable and other liabilities	2,117		83
Total liabilities	64,598		83
Total shareholders' equity before non-controlling interests	557,802		140,800
Total liabilities and shareholders' equity	$	622,400	$	140,883

Parent Company

Condensed Statements of Operations

	Year ended December 31,
	2014		2013			2012
Income:
Dividends from subsidiaries	$	8,058	$	—		$	—
Other income	54		—			—
Total income	8,112		—			—
Expense:
Interest expense	2,331		—			—
Other expenses	837		1,247			3,939
Total expenses	3,168		1,247			3,939
Income (loss) before income taxes and equity in undistributed earnings of subsidiaries	4,944		(1,247		)	(3,939		)
Income tax benefit	5,647		—			—
Income (loss) before equity in undistributed earnings of subsidiaries	10,591		(1,247		)	(3,939		)
Equity in undistributed earnings of subsidiaries	11,114		7,120			4,727
Net income	21,705		5,873			788
Dividends on preferred stock	1,269		—			—
Net income attributable to non-controlling interests	2,466		3,470			1,935
Net income available to common shareholders	$	17,970	$	2,403		$	(1,147	)

Parent Company

Condensed Statements of Cash Flows

	Year ended December 31,
	2014			2013			2012
Cash flows from operating activities:
Net income	$	21,705		$	5,873		$	788
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Deferred income taxes	(5,647		)	—			—
Equity in undistributed earnings of subsidiaries	(11,114		)	(7,120		)	(4,727		)
Net change in other assets	258			346			(343		)
Net change in interest payable and other liabilities	(281		)	(801		)	398
Other, net	419			280			1,412
Net cash provided by (used) in operating activities	5,340			(1,422		)	(2,472		)
Cash flows from investing activities:
Proceeds from sales of investment securities available for sale	13			—			—
Purchases of cash flow hedges	(1,278		)	—			—
Investment in subsidiaries	(323		)	—			(9,905		)
Proceeds from repayment of investment in subsidiaries	6,014			2,000			—
Proceeds from sale of fixed assets to subsidiary	—			—			300
Net cash from business combinations	4,388			—			—
Net cash provided by (used in) investing activities	8,814			2,000			(9,605		)
Cash flows from financing activities:
Proceeds from exercise of stock options	5			—			—
Repurchase of common stock	(886		)	—			—
Distribution to legacy shareholders of Piedmont Community Bank Holdings, Inc.	(9,810		)	—			—
Dividends paid on preferred stock	(1,269		)	—			—
Other, net	—			—			(63		)
Net cash used in financing activities	(11,960		)	—			(63		)
Net increase (decrease) in cash and cash equivalents	2,194			578			(12,140		)
Cash and cash equivalents, beginning	631			53			12,193
Cash and cash equivalents, ending	$	2,825		$	631		$	53