UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: June 20, 1996
VALLEY FINANCIAL CORPORATION
VIRGINIA 33-77568 54-1702380
(State of (Commission (IRS Employer
incorporation) File Number) Identification No.)
36 Church Avenue, S.W.
Roanoke, Virginia 24011
(Address of principal executive offices)
(540) 342-2265
(Issuer's telephone number, including area code)
Item 6: Resignations of Registrant's Directors.
Valley Financial Corporation (the "Company"), the holding
company for Roanoke, VA-based Valley Bank (the "Bank"), announced
on June 21, 1996, a reorganization of its executive management
team. Ellis L. Gutshall has been elected to the position of
President and Chief Executive Officer of the Company and the Bank.
He succeeds Guy W. Byrd, Jr., who has resigned as an officer and a
director of both the Company and the Bank. Mr. Gutshall had been
Senior Vice President of the Company, and Senior Vice President and
Chief Lending Officer of the Bank, since January, 1995.
Additionally, A. Wayne Lewis was named Executive Vice President and
Chief Operating Officer of the Company and the Bank. Mr. Lewis
previously was Senior Vice President and Chief Operating Officer of
the Company and the Bank, and is one of the original organizers of
both entities.
Mr. Byrd's resignation is not due to any disagreement on his
part with the Company or the Bank on any matter relating to
operations, policies or practices.
Mr. Gutshall has been named a member of the Board of Directors
of the Company and the Bank, and of their Executive Committees.
The Company's common stock is traded over the counter under
the symbol VYFC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
VALLEY FINANCIAL CORPORATION
Date: June 25, 1996 By: /s/ A. Wayne Lewis
A. Wayne Lewis
Executive Vice President
