What is Money Anyway? Updates from SILA.OB, VYFC, & GSLA from Stock-PR.com

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Gold American Mining Corp. (OTC.BB: SILA) has a lot to be celebrating these days. Not only has Gold American been fortunate to realize that one of its properties, located in Mexico and known as the Guadalupe Property, may have even more precious metals production potential than originally anticipated, but investors and market analysts are also taking notice of the potential success of Gold American.

In fact, only this week Emerging Stock ReportReport, a leading provider of independent investment research for North American companies, dosclosed that Gold American would be covered as an emerging growth company for potential investors. This is big news for Gold American because it means that Emerging Stock Report believes this is a stock to be watched and, as part of its service, will provide research, analyses, real-time news and data on Gold American to potential investors. Gold American was also able to call upon $300,000 of a $7.5 million equity financing agreement from a European institutional investor this week, leaving $7.2 million still available for Gold American to continue its aggressive campaign to acquire and explore properties rich with gold and silver. If Gold American can continue these successes, it seems Gold American will be seeing a lot of gold in its future (and perhaps so will investors?!).

Valley Financial Corporation (NASDAQ:VYFC) reported its consolidated financial results for the first quarter 2010 and reported an 473% increase in earnings as compared to 1st quarter 2009. Net income for the three-month period ending March 31, 2010 was $848,000 compared to net income of $148,000 for the same period last year. After deducting the dividends and discount accretion on preferred stock, net income available to common shareholders for the three-month period ending March 31, 2010 amounted to $609,000, an increase of $696,000 compared to a net loss to common shareholders of $87,000 for the same period last year. Diluted earnings (loss) per share increased from ($0.02) for the three-month period ending March 31, 2009 to $0.13 for the first quarter of 2010. Valley Financial’s earnings for the quarter produced an annualized return on average total assets of 0.48% and an annualized return on average shareholders’ equity of 6.58%, compared to ratios of 0.09% and 1.02%, respectively, for the first quarter of 2009. Ellis L. Gutshall, Valley Financial President and CEO said, “Despite the very challenging environment, we are pleased to announce strong earnings for the first quarter of 2010. Valley Financial continues to be well capitalized which will allow us to continue our focus on the resolution of our problem assets and to position the Company to return to more normalized growth. Additionally, we will strive to build on our excellent 2009 core deposit growth which should allow for continued improvement in our net interest margin and provide a prudent means by which to grow the Company.”

Valley Financial Corporation operates as the holding company for Valley Bank that provides general commercial banking services to small-to-medium sized businesses, professional concerns, and individuals primarily in the Roanoke Valley of Virginia. It offers various deposit products, including checking, NOW, savings, money market, and individual retirement accounts, as well as time deposits and certificates of deposit. Valley Financial also provides a range of loan products, such as commercial loans for working capital, business expansion, and purchase of equipment and machinery; residential real estate loans secured by 1-4 family residential properties; construction and development loans for financing the construction of business and residential structures, as well as for the acquisition and development of commercial and residential projects; and consumer loans for financing automobiles, home improvements, education, and personal investments. In addition, Valley Financial offers safe deposit boxes, as well as certain cash management services, including overnight repurchase agreements, merchant purchase and management programs, travelers checks, direct deposit of payroll and social security checks, and automatic drafts for various accounts. Further, Valley Financial provides VISA and MasterCard credit card services, as well as a debit-check card and lockbox services; and non-deposit investment and insurance products.

GS Financial Corp. (NASDAQ:GSLA), the holding company for Guaranty Savings Bank, reported earnings for the quarter ended June 30, 2010 of $138,000, or $0.11 per share basic and diluted, compared with earnings of $503,000, or $0.40 per share basic and diluted, for the same period in 2009. Earnings for the first half of 2010 were $87,000, or $0.07 per share basic and diluted, compared with earnings of $881,000, or $0.69 per share basic and diluted, for the first six-months of 2009.

Highlights of the second quarter and first six-months of 2010 include that total assets at June 30, 2010 were $274.0 million, up approximately $2.3 million, or 0.9%, from December 31, 2009; loans increased by $1.4 million, or 0.7%, during the first half of 2010 from $185.5 million at December 31, 2009 to $186.9 million at June 30, 2010, with the majority of the growth in one-to four-family residential mortgage loans; total deposits at June 30, 2010 were $204.1 million, which represents an increase of $2.6 million, or 1.3%, from $201.5 million at December 31, 2009. Approximately $1.2 million of this growth was in non-interest-bearing deposit accounts which have increased by 8.3% from $14.8 million at December 31, 2009 to $16.0 million at June 30, 2010; advances from the Federal Home Loan Bank of Dallas were reduced by $1.5 million, or 3.8%, during the first half of 2010 from $40.5 million at December 31, 2009 to $39.0 million at June 30, 2010; net interest margin increased by 53 basis points to 3.63% during the second quarter of 2010 from 3.10% for the same period in the prior year. For the six months ended June 30, 2010, net interest margin increased by 32 basis points to 3.53% from 3.21% for the first half of 2009; and the ratio of average loans to average deposits decreased to 92.88% for the three months ended June 30, 2010 from 95.86% for the same period in the prior year.

GS Financial President Stephen E. Wessel commented, “We are reporting net income of $138,000 for the second quarter. Our results for the quarter reflect continued improvements in net interest income, which increased by 21.4%, and in our net interest margin. However, our bottom line was adversely affected by our need to increase our allowance for loan losses and to write-down the value of certain foreclosed properties, reflecting the challenges we face in the continuing recession.”

Net interest income for the quarter ended June 30, 2010 was $2.4 million, which represents an increase of $417,000, or 21.4%, from $1.9 million for the quarter ended June 30, 2009. Net interest income for the first six-months of 2010 was $4.6 million, an increase of $735,000, or 19.2%, from the same period in the prior year. The increases in net interest income when comparing both the three and six-month periods ended June 30, 2010 to the same periods in the prior year are primarily due to a decrease in the cost of interest-bearing deposits combined with a significant increase in the average balance of loans. This was partially offset by a decrease in the average yield on interest-earning assets and an increase in the average balance of interest-bearing deposits. Interest and dividend income decreased by $80,000, or 2.2%, and interest expense decreased by $497,000, or 29.9%, for the second quarter of 2010 compared to the second quarter of 2009. For the first six-months of 2010, interest and dividend income was $7.0 million, a decrease of $25,000, or 0.4%, from the first six-months of 2009. Interest expense for the first half of 2010 was $2.4 million, which represents a decrease of $760,000, or 23.9%, when compared to the same period in the prior year.

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