Attached files
| file | filename |
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| EX-99.1 - SOUTHERN COMMUNITY FINANCIAL CORP | v215415_ex99-1.htm |
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: (Date of Earliest Event Reported) March 24, 2011
Southern Community Financial Corporation
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North Carolina
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000-33227
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56-2270620
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(State of Incorporation)
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(Commission File Number)
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(I.R.S. Employer
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Identification No.) | |
| 4605 Country Club Road, Winston-Salem, North Carolina | 27104 | |
| (Address of principal executive offices) | (Zip Code) | |
Issuer's telephone number: (336) 768-8500
_________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
On March 24, 2011, Southern Community Financial Corporation (NASDAQ: SCMF and SCMFO) (the “Company”), the parent company for Southern Community Bank and Trust, issued a press release announcing fourth quarter and full year 2010 results of net loss available to common shareholders of $11.5 million and $25.7 million, respectively. These results differ from the amounts disclosed in the January 31, 2011 earnings release due to management’s determination that the valuation allowance for the deferred tax assets be increased by $8.6 million. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press release dated March 24, 2011
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, Southern Community Financial Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Southern Community Financial Corporation | |||
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March 24, 2011
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By: /s/ James Hastings | ||
| Name: James Hastings | |||
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Title: Executive Vice President and Chief Financial Officer
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