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<TITLE>MOUNTAIN VALLEY BANCSHARES, INC.</TITLE>
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933<BR>
MOUNTAIN VALLEY BANCSHARES, INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top">Georgia<BR>
(State or other jurisdiction of <BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">20-02743161<BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
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</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">136 North Main Street<BR>
Cleveland, Georgia 30528<BR>
(Address and Zip Code of Principal Executive Offices)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&nbsp;<BR>
Mountain Valley Bancshares, Inc. 2005 Stock Option Plan<BR>
(Full title of the Plan)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">&nbsp;<BR>
Marc J. Greene<BR>
Chief Executive Officer<BR>
136 North Main Street<BR>
Cleveland, Georgia 30528<BR>
(706)&nbsp;348-6822<BR>
(Name and address and telephone number (including area code) of agent for service)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>with copies to:</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Michael P. Marshall, Jr.<BR>
Miller &#038; Martin PLLC<BR>
1170 Peachtree Street, N.E.<BR>
Suite&nbsp;800<BR>
Atlanta, Georgia 30309<BR>
(404)&nbsp;962-6442
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Calculation of Registration Fee</B>
</DIV>

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    <TD width="12%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
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    <TD width="2%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="15" style="border-bottom: 3px double #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Proposed maximum</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">Title of securitie</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount to be</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">offering price per</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">aggregate offering</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Amount of</TD>
    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left">to be registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">registered</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">share</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">price</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">registration Fee</TD>
    <TD width="1%">&nbsp;</TD>
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                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">56,754 (1)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$10.12 (2)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$574,350</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$22.57</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
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<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, no par value</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">41,250 (1)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$14.87 (3)</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$613,388</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="bottom" style="border-top: 2px solid #000000">$24.11</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="15" style="border-top: 3px double #000000">&nbsp;</TD>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">The amount to be registered consists of an aggregate of 98,004 shares to be issued pursuant
to the exercise of stock options to participants under by Mountain Valley Bancshares, Inc.&#146;s
2005 Stock Option Plan, including 41,250 shares that are subject to previously granted
options. This Registration Statement also covers any additional shares of common stock issued
or issuable as a result of a stock split or a stock dividend.</DIV></TD>
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</DIV>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">Determined pursuant to Rule 457(h) under the Securities Act of 1933 solely for the purpose of
calculating the registration fee and represents the per share book value of the common stock
as of March&nbsp;31, 2008.</DIV></TD>
</TR>

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</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: left">Determined pursuant to Rule 457(h) under the Securities Act of 1933 solely for the purpose of
calculating the registration fee and represents the weighted average exercise price of
previously granted stock options.</DIV></TD>
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</TABLE>
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<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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<DIV style="font-family: 'Times New Roman',Times,serif">










<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8 (plan information and
registrant information) will be sent or given to optionees as specified by Rule&nbsp;428(b)(1) of the
Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the
&#147;Commission&#148;) either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 of the Securities Act. These documents, which include the
statement of availability required by Item&nbsp;2 of Form S-8, and the documents incorporated by
reference in this Registration Statement pursuant to Item&nbsp;3 of Form S-8 (Part&nbsp;II hereof), taken
together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities
Act.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART
II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. </B><U><B>Incorporation of Documents by Reference</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents are incorporated by reference in this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The Registrant&#146;s Form 10-KSB filed with the Securities and Exchange Commission
(the &#147;SEC&#148;) on April&nbsp;1, 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. All other reports filed pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (the &#147;Exchange Act&#148;) since the end of the fiscal year covered by
the Registrant document referred to in paragraph (a)&nbsp;above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. The description of the Registrant&#146;s common stock set forth in the Registrant&#146;s
Form 8-A (SEC File No.&nbsp;000-53196) and any amendment or report filed for the purpose of
updating such description.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents subsequently filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment
which indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof
from the date of the filing of such documents. Any statement contained herein or in a document
incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein or in any
subsequently filed document which also is, or is deemed to be, incorporated herein by reference
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed to constitute a part hereof, except as modified or superseded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. </B><U><B>Description of Securities</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. </B><U><B>Interests of Named Experts and Counsel</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. </B><U><B>Indemnification of Directors and Officers</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subsection (a)&nbsp;of Section&nbsp;14-2-851 of the Georgia Business Corporation Code provides that a
corporation may indemnify or obligate itself to indemnify an individual made a party to a
proceeding because he or she is or was a director against liability incurred in the proceeding if
such individual conducted himself or herself in good faith and such individual reasonably believed,
in the case of conduct in an official capacity, that such conduct was in the best interests of the
corporation and, in all other cases, that such conduct was at least not opposed to the best
interests of the corporation and, in the case of any criminal proceeding, such individual had no
reasonable cause to believe such conduct was unlawful. Subsection (d)&nbsp;of Section&nbsp;14-2-851 of the
Georgia Business Corporation Code provides that a
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">corporation may not indemnify a director in connection with a proceeding by or in the right of
the corporation except for reasonable expenses incurred if it is determined that the director has
met the relevant standard of conduct, or in connection with any proceeding with respect to conduct
under Section&nbsp;14-2-851 of the Georgia Business Corporation Code for which he was adjudged liable on
the basis that personal benefit was improperly received by him. Notwithstanding the foregoing,
pursuant to Section&nbsp;14-2-854 of the Georgia Business Corporation Code a court may order a
corporation to indemnify a director or advance expenses if such court determines that the director
is entitled to indemnification under the Georgia Business Corporation Code or that the director is
fairly and reasonably entitled to indemnification in view of all the relevant circumstances,
whether or not such director met the standard of conduct set forth in subsections (a)&nbsp;and (b)&nbsp;of
Section&nbsp;14-2-851 of the Georgia Business Corporation Code, failed to comply with Section&nbsp;14-2-853
of the Georgia Business Corporation Code or was adjudged liable as described in paragraph (1)&nbsp;or
(2)&nbsp;of subsection (d)&nbsp;of Section&nbsp;14-2-851 of the Georgia Business Corporation Code.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14-2-852 of the Georgia Business Corporation Code provides that to the extent that a
director has been successful, on the merits or otherwise, in the defense of any proceeding to which
he was a party, because he or she is or was a director of the corporation, the corporation shall
indemnify the director against reasonable expenses incurred by the director in connection
therewith.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;14-2-857 of the Georgia Business Corporation Code provides that a corporation may
indemnify and advance expenses to an officer of the corporation who is a party to a proceeding
because he or she is an officer of the corporation to the same extent as a director and if he or
she is not a director to such further extent as may be provided in its articles of incorporation,
bylaws, action of its board of directors or contract except for liability arising out of conduct
specified in Section&nbsp;14-2-857(a)(2) of the Georgia Business Corporation Code. Section&nbsp;14-2-857 of
the Georgia Business Corporation Code also provides that an officer of the corporation who is not a
director is entitled to mandatory indemnification under Section&nbsp;14-2-852 and is entitled to apply
for court ordered indemnification or advances for expenses under Section&nbsp;14-2-854, in each case to
the same extent as a director. In addition, Section&nbsp;14-2-857 provides that a corporation may also
indemnify and advance expenses to an employee or agent who is not a director to the extent,
consistent with public policy, that may be provided by its articles of incorporation, bylaws,
action of its board of directors or contract.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s Bylaws currently provide that, except in cases where the proceeding is by or
in the right of the Registrant or the director or officer is adjudged liable on the basis that he
or she improperly received a personal benefit, the Registrant shall indemnify any officer or
director who is made a party to a proceeding because he or she is or was a director against
liability incurred in the proceeding if he or she acted in a manner he or she believed in good
faith to be in or not opposed to the Registrant&#146;s best interests and in the case of a criminal
proceeding he or she had no reasonable cause to believe his or her conduct was unlawful. Officers
and directors of the Registrant are presently covered by insurance which (with certain exceptions
and within certain limitations) indemnifies them against any losses or liabilities arising from his
or her status as a director or officer. The cost of such insurance is borne by the Registrant as
permitted by the laws of the State of Georgia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. </B><U><B>Exemption from Registration Claimed</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. </B><U><B>Exhibits</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed as part of the Registration Statement:
</DIV>
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    <TD width="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Legal Opinion of Miller &#038; Martin PLLC</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cherry, Bekaert &#038; Holland, L.L.P.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Miller &#038; Martin PLLC (appears in Legal Opinion at Exhibit&nbsp;5.1 hereto)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (appear on the signature page to this Registration Statement
on Form&nbsp;S-8).</TD>
</TR>
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. </B><U><B>Undertakings</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned Registrant hereby undertakes:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement (or the
most recent Post-Effective Amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information in the
Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than 20% change in the maximum
aggregate offering price set forth in the &#147;Calculation of Registration
Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect
to the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration
Statement;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%"><I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section&nbsp;13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the Registration Statement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide </I>offering thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant&#146;s annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering
thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The undersigned Registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report to
security holders that is incorporated by reference in the prospectus and furnished pursuant to and
meeting the requirements of Rule&nbsp;14a-3 or Rule&nbsp;14c-3 under the Securities Exchange Act of 1934;
and, where interim financial information required to be presented by Article&nbsp;3 of Regulation&nbsp;S-X
are not set forth in the prospectus, to deliver, or cause to be delivered to each person to whom
the prospectus is sent or given, the latest quarterly report that is specifically incorporated by
reference in the prospectus to provide such interim financial information.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act of 1933 Act and will be governed by the final adjudication of
such issue.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Cleveland, State of Georgia, on the 23rd day of May, 2008.
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>MOUNTAIN VALLEY BANCSHARES, INC.</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">                            /s/ Marc J. Greene
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Marc J. Greene&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWER OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints MARC J. GREENE as his/her true and lawful attorney-in-fact and agent, each with full
power of substitution and resubstitution, for him/her and in his/her name, place and stead, in any
and all capacities, with either having full authority to sign any and all amendments to this
Registration Statement, and to file the same, with exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent full power and authority to do and perform each and every act and thing
requisite or necessary to be done regarding the aforesaid, as fully to all intents and purposes as
he/she might or could do in person, hereby ratifying and confirming all that either of said
attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement, has
been signed below by the following persons in the capacities and on the dates indicated.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Marc J. Greene
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Marc J. Greene</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
President and Chief Executive
Officer/Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Rachel E. Marshall
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Rachel E. Marshall</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Senior VP &#151; Finance
(Principal Financial and
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Donald E. Allison
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Donald E. Allison</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ R. Keith Alexander
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
R. Keith Alexander</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ B. David Barrett
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
B. David Barrett</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ C. Lamar Black
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
C. Lamar Black</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ E. Ray Black
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
E. Ray Black</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Joel R. Campbell
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Joel R. Campbell</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ J. Clifford Cox
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
J. Clifford Cox</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Aubrey H. McIntyre
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Aubrey H. McIntyre</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ June W. Parks
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
June W. Parks</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ R. Gerald Sims
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
R. Gerald Sims</TD>
    <TD>&nbsp;</TD>
    <TD align="left">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 23 2008</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Index to Exhibits</B></U>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Legal Opinion of Miller &#038; Martin PLLC</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Cherry, Bekaert &#038; Holland, L.L.P.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Miller &#038; Martin PLLC (appears in Legal Opinion at Exhibit&nbsp;5.1 hereto)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (appear on the signature page to this Registration Statement).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
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{"company-data": {"conformed-name": "MOUNTAIN VALLEY BANCSHARES INC", "cik": "0001276939", "assigned-sic": "6021", "irs-number": "000000000", "state-of-incorporation": "GA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-151175", "film-number": "08858664"}, "business-address": {"street1": "136 NORTH MAIN STREET", "city": "CLEVELAND", "state": "GA", "zip": "30528", "phone": "7068651905"}, "mail-address": {"street1": "136 NORTH MAIN STREET", "city": "CLEVELAND", "state": "GA", "zip": "30528"}}
MOUNTAIN VALLEY BANCSHARES, INC.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
MOUNTAIN VALLEY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Georgia
(State or other jurisdiction of
incorporation or organization)
20-02743161
(I.R.S. Employer
Identification No.)
136 North Main Street
Cleveland, Georgia 30528
(Address and Zip Code of Principal Executive Offices)
Mountain Valley Bancshares, Inc. 2005 Stock Option Plan
(Full title of the Plan)
Marc J. Greene
Chief Executive Officer
136 North Main Street
Cleveland, Georgia 30528
(706) 348-6822
(Name and address and telephone number (including area code) of agent for service)
with copies to:
Michael P. Marshall, Jr.
Miller & Martin PLLC
1170 Peachtree Street, N.E.
Suite 800
Atlanta, Georgia 30309
(404) 962-6442
Calculation of Registration Fee
Proposed maximum
Proposed maximum
Title of securitie
Amount to be
offering price per
aggregate offering
Amount of
to be registered
registered
share
price
registration Fee
Common Stock, no par value
56,754 (1)
$10.12 (2)
$574,350
$22.57
Common Stock, no par value
41,250 (1)
$14.87 (3)
$613,388
$24.11
(1)
The amount to be registered consists of an aggregate of 98,004 shares to be issued pursuant
to the exercise of stock options to participants under by Mountain Valley Bancshares, Inc.'s
2005 Stock Option Plan, including 41,250 shares that are subject to previously granted
options. This Registration Statement also covers any additional shares of common stock issued
or issuable as a result of a stock split or a stock dividend.
(2)
Determined pursuant to Rule 457(h) under the Securities Act of 1933 solely for the purpose of
calculating the registration fee and represents the per share book value of the common stock
as of March 31, 2008.
(3)
Determined pursuant to Rule 457(h) under the Securities Act of 1933 solely for the purpose of
calculating the registration fee and represents the weighted average exercise price of
previously granted stock options.
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The documents containing the information specified in Part I of Form S-8 (plan information and
registrant information) will be sent or given to optionees as specified by Rule 428(b)(1) of the
Securities Act. Such documents need not be filed with the Securities and Exchange Commission (the
"Commission") either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act. These documents, which include the
statement of availability required by Item 2 of Form S-8, and the documents incorporated by
reference in this Registration Statement pursuant to Item 3 of Form S-8 (Part II hereof), taken
together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities
Act.
PART
II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference
The following documents are incorporated by reference in this Registration Statement:
a. The Registrant's Form 10-KSB filed with the Securities and Exchange Commission
(the "SEC") on April 1, 2008.
b. All other reports filed pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (the "Exchange Act") since the end of the fiscal year covered by
the Registrant document referred to in paragraph (a) above.
c. The description of the Registrant's common stock set forth in the Registrant's
Form 8-A (SEC File No. 000-53196) and any amendment or report filed for the purpose of
updating such description.
All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Securities Exchange Act of 1934, prior to the filing of a post-effective amendment
which indicates that all securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference herein and to be a part hereof
from the date of the filing of such documents. Any statement contained herein or in a document
incorporated or deemed to be incorporated herein by reference shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein or in any
subsequently filed document which also is, or is deemed to be, incorporated herein by reference
modifies or supersedes such statement. Any such statement so modified or superseded shall not be
deemed to constitute a part hereof, except as modified or superseded.
Item 4.
Description of Securities
Not applicable.
Item 5.
Interests of Named Experts and Counsel
Not applicable.
Item 6.
Indemnification of Directors and Officers
Subsection (a) of Section 14-2-851 of the Georgia Business Corporation Code provides that a
corporation may indemnify or obligate itself to indemnify an individual made a party to a
proceeding because he or she is or was a director against liability incurred in the proceeding if
such individual conducted himself or herself in good faith and such individual reasonably believed,
in the case of conduct in an official capacity, that such conduct was in the best interests of the
corporation and, in all other cases, that such conduct was at least not opposed to the best
interests of the corporation and, in the case of any criminal proceeding, such individual had no
reasonable cause to believe such conduct was unlawful. Subsection (d) of Section 14-2-851 of the
Georgia Business Corporation Code provides that a
corporation may not indemnify a director in connection with a proceeding by or in the right of
the corporation except for reasonable expenses incurred if it is determined that the director has
met the relevant standard of conduct, or in connection with any proceeding with respect to conduct
under Section 14-2-851 of the Georgia Business Corporation Code for which he was adjudged liable on
the basis that personal benefit was improperly received by him. Notwithstanding the foregoing,
pursuant to Section 14-2-854 of the Georgia Business Corporation Code a court may order a
corporation to indemnify a director or advance expenses if such court determines that the director
is entitled to indemnification under the Georgia Business Corporation Code or that the director is
fairly and reasonably entitled to indemnification in view of all the relevant circumstances,
whether or not such director met the standard of conduct set forth in subsections (a) and (b) of
Section 14-2-851 of the Georgia Business Corporation Code, failed to comply with Section 14-2-853
of the Georgia Business Corporation Code or was adjudged liable as described in paragraph (1) or
(2) of subsection (d) of Section 14-2-851 of the Georgia Business Corporation Code.
Section 14-2-852 of the Georgia Business Corporation Code provides that to the extent that a
director has been successful, on the merits or otherwise, in the defense of any proceeding to which
he was a party, because he or she is or was a director of the corporation, the corporation shall
indemnify the director against reasonable expenses incurred by the director in connection
therewith.
Section 14-2-857 of the Georgia Business Corporation Code provides that a corporation may
indemnify and advance expenses to an officer of the corporation who is a party to a proceeding
because he or she is an officer of the corporation to the same extent as a director and if he or
she is not a director to such further extent as may be provided in its articles of incorporation,
bylaws, action of its board of directors or contract except for liability arising out of conduct
specified in Section 14-2-857(a)(2) of the Georgia Business Corporation Code. Section 14-2-857 of
the Georgia Business Corporation Code also provides that an officer of the corporation who is not a
director is entitled to mandatory indemnification under Section 14-2-852 and is entitled to apply
for court ordered indemnification or advances for expenses under Section 14-2-854, in each case to
the same extent as a director. In addition, Section 14-2-857 provides that a corporation may also
indemnify and advance expenses to an employee or agent who is not a director to the extent,
consistent with public policy, that may be provided by its articles of incorporation, bylaws,
action of its board of directors or contract.
The Registrant's Bylaws currently provide that, except in cases where the proceeding is by or
in the right of the Registrant or the director or officer is adjudged liable on the basis that he
or she improperly received a personal benefit, the Registrant shall indemnify any officer or
director who is made a party to a proceeding because he or she is or was a director against
liability incurred in the proceeding if he or she acted in a manner he or she believed in good
faith to be in or not opposed to the Registrant's best interests and in the case of a criminal
proceeding he or she had no reasonable cause to believe his or her conduct was unlawful. Officers
and directors of the Registrant are presently covered by insurance which (with certain exceptions
and within certain limitations) indemnifies them against any losses or liabilities arising from his
or her status as a director or officer. The cost of such insurance is borne by the Registrant as
permitted by the laws of the State of Georgia.
Item 7.
Exemption from Registration Claimed
Not applicable.
Item 8.
Exhibits
The following exhibits are filed as part of the Registration Statement:
Exhibit
Number
Description
5.1
Legal Opinion of Miller & Martin PLLC
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
23.2
Consent of Miller & Martin PLLC (appears in Legal Opinion at Exhibit 5.1 hereto)
24.1
Powers of Attorney (appear on the signature page to this Registration Statement
on Form S-8).
Item 9.
Undertakings
(a) The undersigned Registrant hereby undertakes:
1. To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement:
(i) To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement (or the
most recent Post-Effective Amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information in the
Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration
Fee" table in the effective registration statement; and
(iii) To include any material information with respect
to the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration
Statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the Registration Statement.
2. That, for the purpose of determining any liability under the Securities Act of 1933,
each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof.
3. To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable,
each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Securities
Exchange Act of 1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial
bona fide
offering
thereof.
(c) The undersigned Registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report to
security holders that is incorporated by reference in the prospectus and furnished pursuant to and
meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Securities Exchange Act of 1934;
and, where interim financial information required to be presented by Article 3 of Regulation S-X
are not set forth in the prospectus, to deliver, or cause to be delivered to each person to whom
the prospectus is sent or given, the latest quarterly report that is specifically incorporated by
reference in the prospectus to provide such interim financial information.
(d) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is against public policy
as expressed in the Securities Act of 1933 Act and will be governed by the final adjudication of
such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all the requirements for filing on Form S-8 and has
duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Cleveland, State of Georgia, on the 23rd day of May, 2008.
MOUNTAIN VALLEY BANCSHARES, INC.
By:
/s/ Marc J. Greene
Marc J. Greene
Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes
and appoints MARC J. GREENE as his/her true and lawful attorney-in-fact and agent, each with full
power of substitution and resubstitution, for him/her and in his/her name, place and stead, in any
and all capacities, with either having full authority to sign any and all amendments to this
Registration Statement, and to file the same, with exhibits thereto, and other documents in
connection therewith, with the Securities and Exchange Commission, granting unto said
attorney-in-fact and agent full power and authority to do and perform each and every act and thing
requisite or necessary to be done regarding the aforesaid, as fully to all intents and purposes as
he/she might or could do in person, hereby ratifying and confirming all that either of said
attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done
by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement, has
been signed below by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Marc J. Greene
Marc J. Greene
President and Chief Executive
Officer/Director
May 23 2008
/s/ Rachel E. Marshall
Rachel E. Marshall
Senior VP — Finance
(Principal Financial and
Accounting Officer)
May 23 2008
/s/ Donald E. Allison
Donald E. Allison
Director
May 23 2008
/s/ R. Keith Alexander
R. Keith Alexander
Director
May 23 2008
/s/ B. David Barrett
B. David Barrett
Director
May 23 2008
/s/ C. Lamar Black
C. Lamar Black
Director
May 23 2008
/s/ E. Ray Black
E. Ray Black
Director
May 23 2008
/s/ Joel R. Campbell
Joel R. Campbell
Director
May 23 2008
/s/ J. Clifford Cox
J. Clifford Cox
Director
May 23 2008
/s/ Aubrey H. McIntyre
Aubrey H. McIntyre
Director
May 23 2008
/s/ June W. Parks
June W. Parks
Director
May 23 2008
/s/ R. Gerald Sims
R. Gerald Sims
Director
May 23 2008
Index to Exhibits
Exhibit
Number
Description
5.1
Legal Opinion of Miller & Martin PLLC
23.1
Consent of Cherry, Bekaert & Holland, L.L.P.
23.2
Consent of Miller & Martin PLLC (appears in Legal Opinion at Exhibit 5.1 hereto)
24.1
Powers of Attorney (appear on the signature page to this Registration Statement).