Profile: Valley Financial Corp (VYFC.OQ)
10 Dec 2013
Valley Financial Corporation, incorporated on March 15, 1994, is a bank holding company for Valley Bank (the Bank). The Bank provides commercial banking services focused primarily in the Roanoke Valley of Virginia. The Company is engaged in the business of commercial banking. Its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). It conducts a general commercial banking business while emphasizing the needs of small-to-medium sized businesses, professional concerns and individuals.
The Company offers a range of deposit services, including checking accounts, negotiable order of withdrawal (NOW) accounts, savings accounts and other time deposits of various types, ranging from daily money market accounts to longer-term certificates of deposit. In addition, it offers certain retirement account services, such as individual retirement accounts. The Bank offers a remote deposit transaction delivery system (RDC), which allows the Bank to receive digital information from deposit documents captured at remote locations.
The Bank offers a range of lending services, including commercial loans, residential real estate loans, construction and development loans, and consumer loans. It make both secured and unsecured loans for working capital (including 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 one-to four-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. Additionally, the Bank makes loans for the purpose of financing the acquisition and development of commercial and residential projects. The Bank offers consumer loans, both secured and unsecured, for financing automobiles, home improvements, education and personal investments. Additionally, it offer leasing services for its small business, private banking and business banking customers and prospects to access equipment, technology or other capital assets. It offer several forms of specialized asset-based lending to its commercial business customers, which include Accounts Receivable Financing and Automobile Floor Plan Financing. The Bank utilizes an automated software program to manage and monitor collateral values on a consistent and routine basis. Automobile Floor Plan Financing enables auto-related businesses to carry sufficient levels of inventories to support sales demand.
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 automated teller machines (ATM’s) and are associated with the Star, Cirrus and InterCept shared networks of automated teller machines. It also offers VISA and MasterCard credit card services, as well as a debit-check card. Its lockbox service provides a way to collect accounts receivable payments locally for businesses and non-profit organizations.
Valley Wealth Management Services, Inc, (VWM) a wholly owned subsidiary of the Bank, completed its offering non-deposit investment and insurance products to the public. VWM changed broker dealer services to Investment Centers of America (ICA) on January 14, 2011.
Valley Financial Corp
36 Church Avenue, S.W.
ROANOKE VA 24011