Valley Financial Corp was incorporated as a Virginia stock corporation on March 15, 1994. It is a bank holding company that conducts a general commercial banking business while emphasizing the needs of small-to-medium sized businesse...s, professional concerns, and individuals. It offers deposit services that including checking accounts, NOW accounts, savings accounts and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. The Company’s main service area is the Roanoke Metropolitan Statistical Area (the Roanoke MSA). It offers lending services including commercial loans, residential real estate loans, construction and development loans, and consumer loans. Commercial loans include both secured and unsecured loans for working capital (in...cluding inventory and receivables), business expansion (including acquisition of real estate and improvements) and purchase of equipment and machinery. Residential real estate loans are secured by deeds of trust on 1-4 family residential properties. The Bank also serves as a broker for residential real estate loans placed in the secondary market. The Bank makes loans for the purpose of financing the construction of business and residential structures to financially responsible business entities and individuals. Additionally, the Bank makes loans for the purpose of financing the acquisition and development of commercial and residential projects. The Bank routinely makes consumer loans, both secured and unsecured, for financing automobiles, home improvements, education, and personal investments. Other Bank services include safe deposit boxes, certain cash management services including overnight repurchase agreements, merchant purchase and management programs, traveler’s checks, direct deposit of payroll and social security checks and automatic drafts for various accounts. It operates seven proprietary ATMs associated with the Star, Cirrus and The Exchange shared networks of automated teller machines. It also offers VISA and MasterCard credit card services as well as a debit-check card. The Company’s lockbox service provides a way to collect accounts receivable payments locally for businesses and non-profit organizations. The Company and the Bank are subject to state and federal banking laws and regulations which impose specific requirements or restrictions on and provide for general regulatory oversight with respect to virtually all aspects of operations.