A retired executive at Yadkin Financial (YDKN) resigned last week in a dispute over the Elkin, N.C., company's growth strategy.

James Smoak notified Yadkin on Dec. 20 that he was leaving, the $1.8 billion-asset company said in a regulatory filing. Smoak, who joined the board in 1987, retired as president and chief executive of Yadkin Valley Bank and Trust in 2002. Smoak was on Yadkin's audit committee, asset-liability committee, directors loan committee and capital committee, according to a regulatory filing.

Yadkin said in the filing that it has no immediate plans to fill the vacancy.

Reports circulated last month that Yadkin was considering a merger with VantageSouth Bancshares (VSB) in Raleigh, N.C. The rumored deal would create a $3.8 billion bank with 80 branches, according to the Charlotte Business Journal.