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Valley Financial Corp (VYFC) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Valley Financial Corp

CIK: 921590 Ticker: VYFC
Exhibit 99.1

Valley Financial Corporation
                                                                                                                             ____________________________________________________________
          

FOR RELEASE 4:00 p.m. January 31, 2013

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 THIRD CONSECUTIVE YEAR OF RECORD EARNINGS;
 DECLARES QUARTERLY CASH DIVIDEND

ROANOKE, VIRGINIA (January 31, 2013) -- Valley Financial Corporation (NASDAQ Capital Market-VYFC) announced today its consolidated financial results for the year ended December 31, 2012 and reported record net income of $6,489,000 and diluted earnings per share of $1.14.  The results represent an increase of $801,000 or 14% increase over the previous year’s then-record net income of $5,688,000.  After deducting dividends and discount accretion on preferred stock from net income, net income available to common shareholders increased 17% to $5,503,000 as compared to $4,720,000 for the prior year. Return on average total assets was 0.83% and return on average shareholder’s equity was 10.31% as compared to 0.73% and 9.88% respectively, for 2011.

Additionally, the Company announced today that its Board of Directors declared a quarterly cash dividend of $0.035 per share, payable on March 1, 2013 to its common shareholders of record on February 15, 2013. The amount and declaration of future cash dividends are subject to Board of Director’s approval.
 
 
Ellis L. Gutshall, President and Chief Executive Officer of Valley Financial Corporation stated, “2012 has been a very good year for Valley Financial Corporation and our shareholders.  We produced a third record year of earnings, reinstated our quarterly cash dividend to our common stock shareholders and redeemed 10% of preferred stock held by the US Treasury through organic earnings. Additionally, we were successful in increasing our outstanding loans by over $33 million, or 7% over the prior year, a significant achievement given the state of the current economic environment.”

 
 

The following information was filed by Valley Financial Corp (VYFC) on Friday, February 1, 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-K Annual 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-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Borrowed Funds
Borrowed Funds (long-term Debt) (details)
Borrowed Funds (narrative) (details)
Borrowed Funds (short-term Debt) (details)
Borrowed Funds (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Concentrations Of Credit Risk
Earnings Per Common Share
Earnings Per Common Share (summary Of Earnings Per Share And The Shares Utilized In The Computations) (details)
Earnings Per Common Share (tables)
Employee Benefit Plan
Employee Benefit Plan (details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (level 3 Assets And Liabilities Measured At Fair Value On Recurring Or Non-recurring Basis) (details)
Fair Value Of Financial Instruments (schedule Of Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis) (details)
Fair Value Of Financial Instruments (schedule Of Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (details)
Fair Value Of Financial Instruments (schedule Of Carrying Amounts And Fair Values Of The Financial Instruments) (details)
Fair Value Of Financial Instruments (tables)
Federal Home Loan Bank Stock
Federal Home Loan Bank Stock (details)
Foreclosed Assets
Foreclosed Assets (summary Of Foreclosed Assets) (details)
Foreclosed Assets (tables)
Income Taxes
Income Taxes (current And Deferred Income Tax Components) (details)
Income Taxes (deferred Income Tax Analysis) (details)
Income Taxes (rate Reconciliation) (details)
Income Taxes (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 (summary Of Related Pary Loans) (details)
Loans And Allowance For Loan And Lease Losses (tables)
Loans And Allowance For Loan And Lease Losses (trouble Debt Restructurings) (details)
Organization And Summary Of Significant Accounting Policies
Organization And Summary Of Significant Accounting Policies (estimated Useful Lives) (details)
Organization And Summary Of Significant Accounting Policies (narrative) (details)
Organization And Summary Of Significant Accounting Policies (policy)
Parent Company Financial Information
Parent Company Financial Information (condensed Balance Sheets) (details)
Parent Company Financial Information (condensed Statements Of Cash Flows) (details)
Parent Company Financial Information (condensed Statements Of Operations) (details)
Parent Company Financial Information (tables)
Premises And Equipment
Premises And Equipment (components Of Premises And Equipment Accumulated Depreciation And Amortization) (details)
Premises And Equipment (future Minimum Lease Payments Under Non-cancelable Operating Leases) (details)
Premises And Equipment (narrative) (details)
Premises And Equipment (tables)
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)
Restrictions On Cash
Restrictions On Cash (details)
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)
Shareholders' Equity
Shareholders' Equity (details)
Stock Based Compensation
Stock Based Compensation (fair Value Of Options Granted) (details)
Stock Based Compensation (information Regarding Stock Options Outstanding) (details)
Stock Based Compensation (maturity Schedule Of The Unrecognized Compensation Cost) (details)
Stock Based Compensation (narrative) (details)
Stock Based Compensation (schedule Of Information Regarding Options Vested) (details)
Stock Based Compensation (stock Based Compensation Recognized As Compensation Expense) (details)
Stock Based Compensation (summary Of Nonvested Options) (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)
Summary Of Significant Accounting Policies (tables)
Time Deposits
Time Deposits (narrative) (details)
Time Deposits (scheduled Maturities Of Time Deposits) (details)
Time Deposits (tables)
Ticker: VYFC
CIK: 921590
Form Type: 10-K Annual Report
Accession Number: 0001002105-13-000027
Submitted to the SEC: Fri Mar 15 2013 2:49:39 PM EST
Accepted by the SEC: Fri Mar 15 2013
Period: Monday, December 31, 2012
Industry: Savings Institution Federally Chartered

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