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EX-99.1 - EXHIBIT 99.1 - SOUTHERN COMMUNITY FINANCIAL CORPv319519_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: July 25, 2012

 

 

 

 

Southern Community Financial Corporation

 

 

North Carolina 000-33227 56-2270620
(State of incorporation) (Commission File Number) (I.R.S. Employer
    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:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

  

Item 5.02: Departure of Director or Principal Officers; Appointment of Certain Officers

 

On July 25, 2012, the Board of Directors of Southern Community Financial Corporation appointed, subject to regulatory approval, James Hastings as interim President and Chief Executive Officer of the Corporation. Mr. Hastings, age 60, has served as the Corporation’s Chief Financial Officer since 2008. Also on July 25, 2012, the Board gave notice to F. Scott Bauer, President and Chief Executive Officer and Jeffrey T. Clark, First Executive Vice President, that their employment with the Corporation has been terminated effective September 22, 2012.

 

Southern Community Financial Corporation is headquartered in Winston-Salem, North Carolina and is the holding company of Southern Community Bank and Trust, a community bank with twenty-two banking offices throughout North Carolina.

 

Southern Community Financial Corporation’s common stock and trust preferred securities are listed on The Nasdaq Global Select Market under the trading symbols SCMF and SCMFO, respectively. Additional information about Southern Community is available on its website at www.smallenoughtocare.com or by email at investor.relations@smallenoughtocare.com.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description of Exhibit
     
99.1   Copy of joint press release dated July 26, 2012
     

 

 
 

 

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
     
Date:  July 26, 2012 By:   /s/ James Hastings
  Name: James Hastings
  Title: Executive Vice President and Chief Financial Officer