| Cash Flow for Valley Financial Corp. (VYFC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 2,928 | 2,882 | 3,392 | 2,824 | 2,600 | | Provision for Loan Loss | 1,250 | 2,796 | 1,297 | 633 | 966 | | Depreciation & Amortization | 954 | 937 | 890 | 909 | 737 | | Deferred Income Taxes | (473) | (1,312) | (249) | (233) | (229) | | Change in Assets (Receivables) | (113) | (2,511) | (1,620) | (715) | (497) | | Change in Liabilities (Payables) | 699 | 2,233 | 1,722 | 816 | (826) | | Investment Securities Gain | 90 | 3 | (53) | (17) | (7) | | Net Policy Acquisition Cost | - | - | - | - | - | | Realized Investment Gains | 4 | (3) | - | 8 | 16 | | Net Premiums Receivables | - | - | - | - | - | | Change in Income Taxes | - | - | - | - | - | | Other Non-Cash Items | 3 | 17 | (449) | (293) | (9) | | Net Cash from Operating Activities | 5,342 | 5,042 | 4,930 | 3,932 | 2,751 | | | | Proceeds from Sale/Mat. Inv. | 10,492 | 5,777 | 14,694 | 17,214 | 24,736 | | Purchase of Investment Securities | (17,749) | (21,503) | (1,815) | (22,937) | (45,190) | | Net Increase Fed. Funds Sold | 16,630 | (16,630) | - | - | - | | Purchase of Property & Equipment | (402) | (1,037) | (1,100) | (538) | (1,617) | | Acquisitions | - | - | - | - | - | | Other Investment Changes, Net | (18,064) | (59,327) | (134,408) | (59,445) | (39,573) | | Net Cash from Investing Activities | (9,093) | (92,720) | (122,629) | (65,706) | (61,644) | | | Net Change in Deposits | (9,036) | 76,173 | 85,983 | 56,311 | 40,779 | | Cash Dividends paid | (580) | (573) | (489) | (228) | - | | Repayment of Long Term Debt | - | 31,155 | - | - | - | | Change in Short Term Debt | (5,053) | (14,194) | 27,825 | 721 | 6,419 | | Issuance of Long term Debt | 15,000 | (5,000) | 7,000 | - | 11,000 | | Issuance of Preferred Stock | - | - | - | - | - | | Issuance of Common Stock | 4,537 | 149 | 7 | 4,578 | 43 | | Purchase of Treasury Stock | - | - | - | - | - | | Other Financing Activities | - | - | - | - | - | | Cash from Financing Activities | 4,868 | 87,710 | 120,326 | 61,382 | 58,241 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash & Equivalents | 1,117 | 32 | 2,627 | (392) | (652) | | | Cash at Beginning of Period | 9,778 | 9,746 | 7,119 | 7,511 | 8,163 | | Cash at End of Period | 10,895 | 9,778 | 9,746 | 7,119 | 7,511 | | | |
