Valley Financial Corp (VYFC) 10-Q Quarterly Report November 2013

ROANOKE, VIRGINIA (October 25, 2013) -- Valley Financial Corporation (NASDAQ Capital Market-VYFC) announced today its consolidated financial results for the third quarter of 2013 and reported net income for the three months ended September 30, 2013 of $1,929,000, which is on par with the record net income reported for the second quarter of 2013 of $1,928,000. The third quarter results represent an increase of $232,000 or 14% over the $1,697,000 net income reported for the same quarter last year. After deducting dividends and discount accretion on preferred stock from net income, net income available to common shareholders increased 21% to $1,762,000 as compared to $1,452,000 for the prior year's third quarter while diluted earnings per share increased 20% to $0.36 as compared to $0.30. In comparison to the linked quarter, net income available to common shareholders increased 2% from $1,730,000 to $1,762,000. The Company's earnings for the three-month period produced an annualized return on average total assets of 0.96% and an annualized return on average shareholder's equity of 11.99% as compared to 0.86% and 10.54% for the prior year's quarter.

Select highlights:


•	Net income of $1.9 million and $0.36 per diluted share, producing a return on average total assets of 0.96% and annualized return on average shareholder's equity of 11.99%.


•	Increase in net interest margin of 15 basis points to 3.73% as compared to the 3.58% reported for the same quarter last year.


•	Nonperforming assets ("NPAs") decreased $2.4 million, from $30.6 million at June 30, 2013 to $28.2 million. This resulted in a 26 basis point reduction in the Company's NPAs as a percentage of total assets, from 3.80% at June 30, 2013 to 3.54% at September 30, 2013.


•	The Company's Allowance for Loan and Lease Losses (“ALLL”) to total loans decreased from 1.45% at June 30, 2013 to 1.33% at September 30, 2013.


•	Loan demand continued to improve with an increase in average loans outstanding of $16.2 million or 3% from the same period last year and $5.9 million in comparison to the linked quarter.

www.myvalleybank.com

Mailing Address: PO Box 2740▪Roanoke VA 24001

36 Church Avenue SW▪Roanoke VA 24011▪Telephone: 540-342-BANK (2265) ▪FAX: 540-342-4514

The following information was filed by Valley Financial Corp (VYFC) on Friday, October 25, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/921590/000092159013000020/vyfc-20130930x10q.htm

View differences made from one quarter to another to evaluate Valley Financial Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Valley Financial Corp.

Continue

Assess how Valley Financial Corp's management team is paid from their Annual Proxy

Valley Financial Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Ticker: VYFC
CIK: 921590
Form Type: 10-Q Quarterly Report
Accession Number: 0000921590-13-000020
Submitted to the SEC: Thu Nov 14 2013 10:22:33 AM EST
Accepted by the SEC: Thu Nov 14 2013
Period: Monday, September 30, 2013
Industry: Savings Institution Federally Chartered

External Resources:
Stock Quote
Social Media
SEC.gov

Bookmark the Permalink:
https://last10k.com/sec-filings/vyfc/0000921590-13-000020.htm

Valley Financial Corp (VYFC) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2013

SEC Filings

VYFC Valuations

VYFC Annual Reports

VYFC Quarterly Reports

VYFC Corporate News