8-K

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: September 22, 2017

HOMETOWN BANKSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Virginia	333-158525	26-4549960
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
202 S. Jefferson Street Roanoke, Virginia		24011
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (540) 345-6000

Not Applicable

(Former name or former address, if changed since last report)

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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 19, 2017, William C. Moses submitted his resignation, effective September 30, 2017, as Corporate Secretary of HomeTown Bankshares Corporation (the “Company”), and as Executive Vice President and Chief Credit Officer of Roanoke, Virginia based HomeTown Bank (the “Bank”), a wholly owned banking subsidiary of the Company. Mr. Moses has served as an Officer of the Company and Bank since their formation in September 2009 and November 2005, respectively.

Effective September 30, 2017, the Company and Bank will appoint William “Wes” W. Budd, Jr. as Mr. Moses’ successor.

A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 – Press release of HomeTown Bankshares Corporation, dated September 22, 2017.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HOMETOWN BANKSHARES CORPORATION
Date: September 22, 2017	By:	/s/ Vance W. Adkins
		Vance W. Adkins
		Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

For more information contact:

Susan K. Still, President and CEO, (540)278-1705

HomeTown Bankshares Corporation Announces New Chief Credit Officer

Roanoke, VA. September 22, 2017 (GLOBE NEWSWIRE) – William W. (Wes) Budd, Jr. has joined HomeTown Bankshares Corporation (the “Company”) (NASDAQ:HMTA) to serve as Executive Vice President and the Company’s second Chief Credit Officer. HomeTown Bankshares is the parent company of HomeTown Bank in Roanoke, Virginia. Mr. Budd will follow William C. Moses, the current Executive Vice President and Chief Credit Officer, who will retire effective September 30, 2017. Mr. Moses has served as the Bank’s Executive Vice President and Chief Credit Officer since its opening on November 14, 2005 and an officer of the holding company since its formation in September, 2009.

Mr. Budd has a BA in Economics from the University of North Carolina at Chapel Hill and is a 1998 graduate of the Banking School of the South at LSU. He has over thirty years of commercial banking experience in retail banking, private banking, commercial lending, and credit administration. He most recently served as Executive Vice President and Chief Credit Officer for nine years at NewBridge Bancorp, a $3 billion commercial bank that ultimately became First National Bank of Pittsburg, PA in March, 2017.

About HomeTown Bankshares Corporation

HomeTown Bankshares Corporation is the parent company of HomeTown Bank, which officially opened for business on November 14, 2005. HomeTown Bank offers a full range of banking services to small and medium-size businesses, real estate investors and developers, private investors, professionals and individuals.  The Bank serves three markets including the Roanoke Valley, the New River Valley and Smith Mountain Lake through six branches, seven ATMs, HomeTown Mortgage and HomeTown Investments.  HomeTown Bankshares Corporation common stock is listed under the symbol “HMTA.” A high level of responsive and personal service coupled with local decision-making is the hallmark of its banking strategy. For more information, please visit www.hometownbank.com.