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<TITLE>Southern Community Financial Corporation</TITLE>
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<P align="right" style="font-size: 10pt"><B>Registration Number _____</B>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>

<P align="center" style="font-size: 24pt"><B>REGISTRATION STATEMENT</B>


<DIV align="center" style="font-size: 10pt">Under the Securities Act of 1933</DIV>



<P align="center" style="font-size: 10pt"><HR align="center" size="1" noshade width="25%">



<P align="center" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Community Financial Corporation<BR>
(Exact name of registrant as specified in its charter)

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    <TD align="center" valign="top">North Carolina<BR>
(State of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">56-2270620<BR>
(I.R.S. Employer Identification No.)</TD>
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    <TD align="center" valign="top">4605 Country Club Road, Winston-Salem, North Carolina<BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">27104<BR>
(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">The Community Bank Amended and Restated Stock Option Plan for Key Employees<BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt">F. Scott Bauer<BR>
Southern Community Financial Corporation<BR>
4605 Country Club Road<BR>
Winston-Salem, North Carolina 27104<BR>
(Name and address of agent for service of process)



<P align="center" style="font-size: 10pt">(336)&nbsp;768-8500<BR>
(Telephone number of agent for service of process)



<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
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    <TD nowrap align="left"><B>Title of each class</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>of securities to</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price per</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>aggregate</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registration</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>be registered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>be registered (1)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>share/unit (2)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>offering price (2)</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>fee (2)</B><HR size="1" noshade></TD>
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    <TD><DIV style="margin-left:10px; text-indent:-10px">Common Stock, without par value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,697</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">66,827</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8.47</TD>
    <TD>&nbsp;</TD>
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    <TD width="4%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pursuant to Rule 416(c) under the Securities Act of 1933 (&#147;Securities
Act&#148;), this Registration Statement also covers an indeterminate number of
additional shares as may be authorized in the event of an increase in the
number of issued shares pursuant to stock dividends, stock splits or other
capital adjustments.</TD>
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    <TD width="4%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Estimated solely for purposes of calculating the registration fee and
based, pursuant to Rule 457(h) under the Securities Act of 1933, as
amended, on the average of the exercise prices of the options granted
pursuant to the plan.</TD>
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<P align="center" style="font-size: 10pt">&nbsp;
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<DIV align="left"><A NAME="000"></A></DIV>

<P align="center" style="font-size: 10pt"><B>PART II</B>


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<DIV align="left"><A NAME="001"></A></DIV>

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


<P align="left" style="font-size: 10pt">The following information heretofore filed with the Securities and Exchange
Commission (the &#147;Commission&#148;) pursuant to the Securities Exchange Act of 1934,
as amended (the &#147;Exchange Act&#148;), is incorporated herein by reference:


<P>
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    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s latest Annual Report on Form 10-K.</TD>
</TR>

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    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s latest Quarterly Report on Form 10-Q.</TD>
</TR>

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    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act since the end of the latest quarter covered by the
Quarterly Report referred to above.</TD>
</TR>

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    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The information set forth under the caption &#147;Description of Capital
Stock&#148; in the registrant&#146;s Registration Statement on Form S-2, Reg.
No.&nbsp;333-74084, dated November&nbsp;28, 2001, including any amendments or
reports filed for the purpose of updating that description.</TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt">All documents filed by the registrant pursuant to Sections&nbsp;13(a), 13(c), 14 and
15(d) of the Exchange Act after the date of this Registration Statement and
before the filing of a post-effective amendment indicating that all securities
offered under the Plan have been sold or deregistering all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing of those
documents.

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<DIV align="left"><A NAME="002"></A></DIV>

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


<P align="left" style="font-size: 10pt">Not applicable because the class of securities to be offered is registered
under Section&nbsp;12 of the Exchange Act.

<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="003"></A></DIV>

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


<P align="left" style="font-size: 10pt">Not applicable.

<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="004"></A></DIV>

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


<P align="left" style="font-size: 10pt">Part&nbsp;5 of Article&nbsp;8 of the North Carolina Business Corporation Act permits
indemnification of officers and directors of the Company under certain
conditions and subject to certain limitations and further provides that a
corporation has the power to purchase and maintain insurance on behalf of its
officers and directors against any liability asserted against such person and
incurred by him or her in such capacity, or arising out of his or her status as
an officer or director, whether or not the corporation would have the power to
indemnify him or her against such liability under any other provisions of the
Business Corporation Act. In addition, expenses incurred by a director or
officer in defending any civil, criminal, administrative or investigative
action, suit or proceeding by reason of the fact that he or she is or was a
director or officer of the Company shall be paid by the Company in advance of
the final disposition of such action, suit or proceeding upon receipt of an
undertaking by or on behalf of such director or officer to repay such amount if
it shall ultimately be determined that he or she is not entitled to be
indemnified by the Company as authorized by the relevant section of the
Business Corporation Act. The rights to indemnity thereunder continue as to a
person who has ceased to be a director, officer, employee or agent and inure to
the benefit of the heirs, executors and administrators of the person.


<P align="left" style="font-size: 10pt">The Sixth Article of the Articles of Incorporation of the Company provides that
the Company shall indemnify its directors and executive officers to the fullest
extent permitted by the Business Corporation Act.


<P align="left" style="font-size: 10pt">As permitted by Section&nbsp;55-2-02 of the Business Corporation Act, the Seventh
Article of the Company&#146;s Articles of Incorporation provides that a director of
the Company shall not be personally liable for monetary damages for breach of
fiduciary duty as a director, except for (i)&nbsp;acts or omissions not made in good
faith that the director at the


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

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<P align="left" style="font-size: 10pt">time of breach knew or believed were in conflict with the best interests of the
Corporation; (ii)&nbsp;any liability under Section&nbsp;55-8-33 of the Business
Corporation Act (unlawful distributions); or (iii)&nbsp;any transaction from which
the director derived an improper personal benefit (which does not include a
director&#146;s compensation or other incidental benefit for or on account of his
service as a director, officer, employee, independent contractor, attorney, or
consultant of the Corporation).


<P align="left" style="font-size: 10pt">The Registrant has an insurance policy covering the directors and officers of
the Registrant with respect to certain liabilities, including liabilities
arising under the Securities Act or otherwise.

<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed." -->

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






<P align="left" style="font-size: 10pt">Not Applicable


<!-- link2 "Item&nbsp;8. Exhibits." -->

<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>

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    <TD width="5%">&nbsp;</TD>
    <TD width="78%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="5"><B>EXHIBIT NO.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>DESCRIPTION</B><HR size="1" noshade></TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen certificate for Common Stock of Southern Community
Financial Corporation (incorporated by reference to Exhibit&nbsp;4 of the
Current Report on Form&nbsp;8K dated October&nbsp;1, 2001)</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</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">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Community Bank Amended and Restated Stock Option Plan for
Key Employees</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</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">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Maupin Taylor, P.A. with respect to the
legality of the securities registered hereby</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</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">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Dixon Hughes PLLC</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</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">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Counsel is included in Exhibit&nbsp;5.1</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</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">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (included as a part of the signature page
to the Registration Statement)</TD>
</TR>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings.</B>


<P align="left" style="font-size: 10pt">The undersigned registrant hereby undertakes:


<P>
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    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</TD>
</TR>

</TABLE>

<P>
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    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to include any prospectus required by Section
10(a)(3) of the Securities Act;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>to reflect in the prospectus any facts or events
arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

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    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Provided, however, that paragraphs (1) (a)&nbsp;and (1) (b)&nbsp;do not apply
if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports
filed 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 this registration statement.
</TD>
</TR>
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<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P>
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    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for the purpose of determining any liability under the
Securities Act, 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;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold
at the termination of this offering;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That, for purposes of determining any liability under the
Securities Act, each filing of the registrant&#146;s annual report
pursuant to Section 13(a) or Section 15(b) 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 herein, and the
offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>That insofar as indemnification for liabilities arising under
the Securities Act 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 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 and will each be governed by the
final adjudication of such issue.</TD>
</TR>

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

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

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


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


</TABLE>
<!-- link1 "SIGNATURES" -->

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, Southern
Community Financial Corporation certifies that it has reasonable grounds to
believe that it meets all of 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 Winston-Salem, State of
North Carolina, on April&nbsp;21, 2004.


<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">&nbsp;</TD>
    <TD colspan="3"><B>SOUTHERN COMMUNITY FINANCIAL CORPORATION</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000"><I>/s/ F. Scott Bauer</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">F. Scott Bauer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Chairman, President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<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">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000">     <I>/s/ Richard M. Cobb</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Richard M. Cobb&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">Executive Vice President, Chief Operating<br>
Officer and Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<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">&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>
<!-- link1 "POWER OF ATTORNEY" -->

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below authorizes F. Scott Bauer and
Richard M. Cobb, and each of them, to file one or more amendments (including
post-effective amendments) to the Registration Statement, which amendments may
make such changes in the Registration Statement as either of them deems
appropriate, and each such person hereby appoints F. Scott Bauer and Richard M.
Cobb, and each of them, as attorney-in-fact to execute in the name and on
behalf of each person individually, and in each capacity stated below, any such
amendment to the Registration Statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>SIGNATURE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>TITLE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>DATE</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top"><I>/s/ F. Scott Bauer</I><BR>
<HR size="1" noshade>
F. Scott Bauer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ James O. Frye</I><BR>
<HR size="1" noshade>
James O. Frye</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice Chairman of the Board
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Don Gray Angell</I><BR>
<HR size="1" noshade>
Don Gray Angell</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Zack W. Blackmon, Sr.</I><BR>
<HR size="1" noshade>
Zack W. Blackmon, Sr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Edward T. Brown</I><BR>
<HR size="1" noshade>
Edward T. Brown</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



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

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<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="43%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>SIGNATURE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>TITLE</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>DATE</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Charles R. Bokesch</I><BR>
<HR size="1" noshade>
Charles R. Bokesch</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<HR size="1" noshade>
James G. Chrysson</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April &#95;&#95;&#95;, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Matthew G. Gallins</I><BR>
<HR size="1" noshade>
Matthew G. Gallins</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ H. Lee Merritt, Jr.</I><BR>
<HR size="1" noshade>
H. Lee Merritt, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Billy D. Prim</I><BR>
<HR size="1" noshade>
Billy D. Prim</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ Durward A. Smith, Jr.</I><BR>
<HR size="1" noshade>
Durward A. Smith, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top"><I>/s/ William G. Ward, Sr., M.D.</I><BR>
<HR size="1" noshade>
William G. Ward, Sr., M.D.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 21, 2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




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


</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "g88761s6sv8.htm", "description": "SOUTHERN COMMUNITY FINANCIAL CORPORATION", "secsgml_size_bytes": 35455}]
{"company-data": {"conformed-name": "SOUTHERN COMMUNITY FINANCIAL CORP", "cik": "0001159427", "assigned-sic": "6022", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-114997", "film-number": "04764745"}, "business-address": {"street1": "4701 COUNTRY CLUB RD", "city": "WINSTON-SALEM", "state": "NC", "zip": "27104", "phone": "3367688500"}}
Southern Community Financial Corporation
Registration Number _____
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under the Securities Act of 1933
Southern Community Financial Corporation
(Exact name of registrant as specified in its charter)
North Carolina
(State of incorporation)
56-2270620
(I.R.S. Employer Identification No.)
4605 Country Club Road, Winston-Salem, North Carolina
(Address of principal executive offices)
27104
(Zip Code)
The Community Bank Amended and Restated Stock Option Plan for Key Employees
(Full title of the plan)
F. Scott Bauer
Southern Community Financial Corporation
4605 Country Club Road
Winston-Salem, North Carolina 27104
(Name and address of agent for service of process)
(336) 768-8500
(Telephone number of agent for service of process)
CALCULATION OF REGISTRATION FEE
Title of each class
Proposed maximum
Proposed maximum
Amount of
of securities to
Amount to
offering price per
aggregate
registration
be registered
be registered (1)
share/unit (2)
offering price (2)
fee (2)
Common Stock, without par value
21,697
$
3.08
$
66,827
$
8.47
(1)
Pursuant to Rule 416(c) under the Securities Act of 1933 ("Securities
Act"), this Registration Statement also covers an indeterminate number of
additional shares as may be authorized in the event of an increase in the
number of issued shares pursuant to stock dividends, stock splits or other
capital adjustments.
(2)
Estimated solely for purposes of calculating the registration fee and
based, pursuant to Rule 457(h) under the Securities Act of 1933, as
amended, on the average of the exercise prices of the options granted
pursuant to the plan.
PART II
Item 3. Incorporation of Documents by Reference.
The following information heretofore filed with the Securities and Exchange
Commission (the "Commission") pursuant to the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), is incorporated herein by reference:
•
The registrant's latest Annual Report on Form 10-K.
•
The registrant's latest Quarterly Report on Form 10-Q.
•
All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act since the end of the latest quarter covered by the
Quarterly Report referred to above.
•
The information set forth under the caption "Description of Capital
Stock" in the registrant's Registration Statement on Form S-2, Reg.
No. 333-74084, dated November 28, 2001, including any amendments or
reports filed for the purpose of updating that description.
All documents filed by the registrant pursuant to Sections 13(a), 13(c), 14 and
15(d) of the Exchange Act after the date of this Registration Statement and
before the filing of a post-effective amendment indicating that all securities
offered under the Plan have been sold or deregistering all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be a part hereof from the date of filing of those
documents.
Item 4. Description of Securities.
Not applicable because the class of securities to be offered is registered
under Section 12 of the Exchange Act.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Part 5 of Article 8 of the North Carolina Business Corporation Act permits
indemnification of officers and directors of the Company under certain
conditions and subject to certain limitations and further provides that a
corporation has the power to purchase and maintain insurance on behalf of its
officers and directors against any liability asserted against such person and
incurred by him or her in such capacity, or arising out of his or her status as
an officer or director, whether or not the corporation would have the power to
indemnify him or her against such liability under any other provisions of the
Business Corporation Act. In addition, expenses incurred by a director or
officer in defending any civil, criminal, administrative or investigative
action, suit or proceeding by reason of the fact that he or she is or was a
director or officer of the Company shall be paid by the Company in advance of
the final disposition of such action, suit or proceeding upon receipt of an
undertaking by or on behalf of such director or officer to repay such amount if
it shall ultimately be determined that he or she is not entitled to be
indemnified by the Company as authorized by the relevant section of the
Business Corporation Act. The rights to indemnity thereunder continue as to a
person who has ceased to be a director, officer, employee or agent and inure to
the benefit of the heirs, executors and administrators of the person.
The Sixth Article of the Articles of Incorporation of the Company provides that
the Company shall indemnify its directors and executive officers to the fullest
extent permitted by the Business Corporation Act.
As permitted by Section 55-2-02 of the Business Corporation Act, the Seventh
Article of the Company's Articles of Incorporation provides that a director of
the Company shall not be personally liable for monetary damages for breach of
fiduciary duty as a director, except for (i) acts or omissions not made in good
faith that the director at the
time of breach knew or believed were in conflict with the best interests of the
Corporation; (ii) any liability under Section 55-8-33 of the Business
Corporation Act (unlawful distributions); or (iii) any transaction from which
the director derived an improper personal benefit (which does not include a
director's compensation or other incidental benefit for or on account of his
service as a director, officer, employee, independent contractor, attorney, or
consultant of the Corporation).
The Registrant has an insurance policy covering the directors and officers of
the Registrant with respect to certain liabilities, including liabilities
arising under the Securities Act or otherwise.
Item 7. Exemption from Registration Claimed.
Not Applicable
Item 8. Exhibits.
EXHIBIT NO.
DESCRIPTION
4.1
Specimen certificate for Common Stock of Southern Community
Financial Corporation (incorporated by reference to Exhibit 4 of the
Current Report on Form 8K dated October 1, 2001)
4.2
The Community Bank Amended and Restated Stock Option Plan for
Key Employees
5.1
Opinion of Maupin Taylor, P.A. with respect to the
legality of the securities registered hereby
23.1
Consent of Dixon Hughes PLLC
23.2
Consent of Counsel is included in Exhibit 5.1
24.1
Powers of Attorney (included as a part of the signature page
to the Registration Statement)
Item 9. Undertakings.
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:
(a)
to include any prospectus required by Section
10(a)(3) of the Securities Act;
(b)
to reflect in the prospectus any facts or events
arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the registration
statement; and
(c)
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 (1) (a) and (1) (b) do not apply
if the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports
filed by the registrant pursuant to Section 13 or Section 15(d) of
the Securities Exchange Act of 1934 that are incorporated by
reference in this registration statement.
2.
That, for the purpose of determining any liability under the
Securities Act, 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 this offering;
4.
That, for purposes of determining any liability under the
Securities Act, each filing of the registrant's annual report
pursuant to Section 13(a) or Section 15(b) 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 herein, and the
offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof;
5.
That insofar as indemnification for liabilities arising under
the Securities Act 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 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 and will each be governed by the
final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, Southern
Community Financial Corporation certifies that it has reasonable grounds to
believe that it meets all of 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 Winston-Salem, State of
North Carolina, on April 21, 2004.
SOUTHERN COMMUNITY FINANCIAL CORPORATION
By:
/s/ F. Scott Bauer
F. Scott Bauer
Chairman, President and Chief Executive Officer
By:
/s/ Richard M. Cobb
Richard M. Cobb
Executive Vice President, Chief Operating
Officer and Chief Financial Officer
POWER OF ATTORNEY
Each person whose signature appears below authorizes F. Scott Bauer and
Richard M. Cobb, and each of them, to file one or more amendments (including
post-effective amendments) to the Registration Statement, which amendments may
make such changes in the Registration Statement as either of them deems
appropriate, and each such person hereby appoints F. Scott Bauer and Richard M.
Cobb, and each of them, as attorney-in-fact to execute in the name and on
behalf of each person individually, and in each capacity stated below, any such
amendment to the Registration Statement.
Pursuant to the requirements of the Securities Act of 1933, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.
SIGNATURE
TITLE
DATE
/s/ F. Scott Bauer
F. Scott Bauer
Chairman of the Board
April 21, 2004
/s/ James O. Frye
James O. Frye
Vice Chairman of the Board
April 21, 2004
/s/ Don Gray Angell
Don Gray Angell
Director
April 21, 2004
/s/ Zack W. Blackmon, Sr.
Zack W. Blackmon, Sr.
Director
April 21, 2004
/s/ Edward T. Brown
Edward T. Brown
Director
April 21, 2004
SIGNATURE
TITLE
DATE
/s/ Charles R. Bokesch
Charles R. Bokesch
Director
April 21, 2004
James G. Chrysson
Director
April ___, 2004
/s/ Matthew G. Gallins
Matthew G. Gallins
Director
April 21, 2004
/s/ H. Lee Merritt, Jr.
H. Lee Merritt, Jr.
Director
April 21, 2004
/s/ Billy D. Prim
Billy D. Prim
Director
April 21, 2004
/s/ Durward A. Smith, Jr.
Durward A. Smith, Jr.
Director
April 21, 2004
/s/ William G. Ward, Sr., M.D.
William G. Ward, Sr., M.D.
Director
April 21, 2004