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Valley Financial Corp (VYFC) SEC Filing 10-Q Quarterly report for the period ending Tuesday, September 30, 2014

Valley Financial Corp

CIK: 921590 Ticker: VYFC

Valley Financial Corporation
____________________________________________________________________________


FOR RELEASE 8:30 a.m. October 31, 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 RECORD NET INCOME AND RECORD DILUTED EARNINGS PER SHARE FOR THIRD QUARTER 2014;
DECLARES QUARTERLY CASH DIVIDEND

ROANOKE, VIRGINIA (October 31, 2014) -- Valley Financial Corporation (NASDAQ Capital Market-VYFC) announced today its consolidated financial results for the third quarter of 2014 and reported record quarterly net income available to common shareholders for the three months ended September 30, 2014 of $1,805,000 and $0.37 per diluted share as compared to $1,762,000 and $0.36 per diluted share for the prior year's third quarter, increases of 2% and 3% respectively. The Company's earnings for the three months ended September 30, 2014 produced an annualized return on average total assets ("ROA") of 0.83% and an annualized return on average shareholder's equity ("ROE") of 12.27% as compared to 0.96% and 11.99%, respectively, for the prior year's quarter. In comparison to the linked quarter, net income available to common shareholders increased $61,000, or 3% while diluted earnings per share increased $0.01, or 3%.

Select highlights for the third quarter include:

Quarterly record net income to common shareholders of $1,805,000 and $0.37 per diluted share, producing an annualized return on average total assets of 0.83% and an annualized return on average shareholders' equity of 12.27%.
Tax-equivalent net interest income of $7,039,000, a $100,000 or 1% increase when compared to the prior year's quarter, but a $53,000 or 1% decrease when compared to second quarter of 2014.
Due to the Company's full redemption of TARP during 2013 preferred dividends paid were $0 for the third quarter of 2014 as compared to $167,000 during the same period last year.
Year-to-date, the Company has achieved an after-tax savings of $295,000, or $0.06 per diluted share, when comparing the $592,000 of preferred dividend payments made during the first nine months of 2013 to the Company's 2014 subordinated debt after-tax expense of $297,000.
Nonperforming assets ("NPAs") decreased 4% or $670,000, from $19,015,000 at June 30, 2014 to $18,345,000 at September 30, 2014. In comparison to September 30, 2013, NPAs decreased $9,864,000, or 35%.
The Company's Allowance for Loan and Lease Losses ("ALLL") to total loans decreased 2 bps to 1.08% in comparison to the 1.10% at June 30, 2014 and 25 basis points from the 1.33% reported


The following information was filed by Valley Financial Corp (VYFC) on Friday, October 31, 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (loss)
Consolidated Statements Of Operations
Borrowings And Restricted Stock
Borrowings And Restricted Stock (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Earnings Per Share
Earnings Per Share (summary Of Earnings Per Share And The Shares Utilized In The Computations) (details)
Earnings Per Share (tables)
Fair Value
Fair Value (level 3 Assets And Liabilities Measured At Fair Value On Recurring Or Non-recurring Basis) (details)
Fair Value (schedule Of Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis) (details)
Fair Value (schedule Of Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (details)
Fair Value (schedule Of Carrying Amounts And Fair Values Of The Financial Instruments) (details)
Fair Value (tables)
Financial Derivatives
Financial Derivatives (schedule Of Derivative Instruments) (details)
Financial Derivatives (tables)
Foreclosed Assets
Foreclosed Assets (summary Of Foreclosed Assets) (details)
Foreclosed Assets (tables)
Loans And Allowance For Loan And Lease Losses
Loans And Allowance For Loan And Lease Losses (narrative) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Aging Of Past Due Loans Receivable By Portfolio Segment) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Allowance For Loan Losses Individually And Collectively Evaluated For Impairment) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Changes In Allowance For Loan Losses) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Components Of Loans In The Consolidated Balance Sheets) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of General Valuation Allowances For Credit Risk) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Historical Loss Factors) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Impaired Loan Financing Receivables) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Loans Receivable, By Portfolio Segment, On Nonaccrual Status) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Risk Based On Payment Activity) (details)
Loans And Allowance For Loan And Lease Losses (schedule Of Risk Category Of Loans And Leases) (details)
Loans And Allowance For Loan And Lease Losses (tables)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (policy)
Regulatory Matters
Regulatory Matters (narrative) (details)
Regulatory Matters (schedule Of Company's And The Bank's Actual Capital Amounts And Ratios) (details)
Regulatory Matters (tables)
Securities
Securities (narrative) (details)
Securities (schedule Of Amortized Costs, Gross Unrealized Gains And Losses, And Approximate Fair Values Of Securities Available-for-sale) (details)
Securities (schedule Of Amortized Costs, Gross Unrealized Gains And Losses, And Approximate Fair Values Of Securities Held-to-maturity) (details)
Securities (schedule Of Maturity Ranges Of Securities Available-for-sale And Held-to-maturity, Weighted Average Yields Of Securities) (details)
Securities (schedule Of Unrealized Losses And Related Fair Values In The Bank's Available-for-sale And Held-to-maturity Investment Securities Portfolios) (details)
Securities (tables)
Stock Based Compensation
Stock Based Compensation (narrative) (details)
Stock Based Compensation (schedule Of Information Regarding Options Vested) (details)
Stock Based Compensation (summary Of Restricted Stock Activity) (details)
Stock Based Compensation (summary Of Stock Options Activity) (details)
Stock Based Compensation (tables)
Subsequent Events
Subsequent Events (details)
Ticker: VYFC
CIK: 921590
Form Type: 10-Q Quarterly Report
Accession Number: 0000921590-14-000051
Submitted to the SEC: Thu Nov 06 2014 1:41:53 PM EST
Accepted by the SEC: Thu Nov 06 2014
Period: Tuesday, September 30, 2014
Industry: Savings Institution Federally Chartered

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