Valley Financial Corporation
____________________________________________________________________________


FOR RELEASE 8:30 a.m. August 1, 2014                    

VALLEY FINANCIAL CORPORATION
36 Church Avenue, S.W.
Roanoke, Virginia 24011

For Further Information Contact:

Ellis L. Gutshall, President and Chief Executive Officer
Kimberly B. Snyder, Executive Vice President and Chief Financial Officer
(540) 342-2265

VALLEY FINANCIAL CORPORATION REPORTS SECOND QUARTER 2014 FINANCIAL RESULTS INCLUDING A 9% ANNUALIZED LOAN GROWTH RATE AND A 12% ANNUALIZED DEPOSIT GROWTH RATE; DECLARES QUARTERLY CASH DIVIDEND

ROANOKE, VIRGINIA (August 1, 2014) -- Valley Financial Corporation (NASDAQ Capital Market-VYFC) announced today its consolidated financial results for the second quarter of 2014 and reported net income available to common shareholders for the three months ended June 30, 2014 of $1,744,000, a 1% increase as compared to $1,730,000 for the prior year's second quarter. Diluted earnings per share increased 3% to $0.36 as compared to $0.35 for the second quarter of 2013. The Company's earnings for the three months ended June 30, 2014 produced an annualized return on average total assets of 0.81% and an annualized return on average shareholders' equity of 12.43% as compared to 0.97% and 12.13%, respectively, for the prior year's quarter. In comparison to the linked quarter, net income available to common shareholders increased $228,000 or 15.0%, while diluted earnings per share increased $0.05 or 16.1%.

Select highlights for the second quarter include:

Net income to common shareholders of $1,744,000 and $0.36 per diluted share, producing an annualized return on average total assets of 0.81% and an annualized return on average shareholders' equity of 12.43%.
Tax-equivalent net interest income of $7,092,000, an $85,000 or 1% increase when compared to first quarter of 2014 and a $265,000 or 4% increase when compared to the prior year's quarter.
Due to the Company's full redemption of TARP during 2013, preferred dividends paid were $0 for the second quarter of 2014 as compared to $198,000 during the same period last year.
Year-to-date, the Company has achieved an after-tax savings of $228,000, or $0.05 per diluted share, when comparing the $425,000 of preferred dividend payments made during the first six months of 2013 to the Company's 2014 subordinated debt after tax expense of $197,000.
Nonperforming assets ("NPAs") decreased 25% or $6,309,000, from $25,324,000 at March 31, 2014 to $19,015,000 at June 30, 2014. This resulted in a 78 basis point reduction in the Company's NPAs as a percentage of total assets, from 2.92% at March 31, 2014 to 2.14% at June 30, 2014. In comparison to June 30, 2013, NPAs decreased $11,586,000, or 38%.


The following information was filed by Valley Financial Corp (VYFC) on Friday, August 1, 2014 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.

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