UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: ~~July~~September 264, 2012

Southern Community Financial Corporation

North Carolina	000-33227	56-2270620
(State of incorporation)	(Commission File Number)	(I.R.S. Employer
		Identification No.)

4605 Country Club Road, Winston-Salem, North Carolina	27104
(Address of principal executive offices)	(Zip Code)

Issuer's telephone number: (336) 768-8500

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ x Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 58.~~02:~~01 ~~Compensatory~~Other ~~Arrangements of Certain Officers~~Events.

On ~~July~~September 264, 2012, Southern Community ~~Financial~~ Financial Corporation (“Southern Community”) ~~and~~announced ~~its~~that ~~principal~~the ~~subsidiary,~~Board ~~Southern~~of ~~Community~~Governors ~~Bank~~of ~~and Trust (~~the ~~“Bank”), entered~~Federal ~~into~~Reserve ~~amendments~~System tohas approved the ~~employment~~acquisition ~~agreements~~of ~~(“EA~~Southern ~~Amendments”)~~Community ~~and~~by ~~salary~~Capital ~~continuation~~Bank ~~agreements~~Financial Corp. (“~~SCA Amendments~~Capital Bank Financial”), ~~with~~formerly known ~~James~~as ~~Hastings,~~North ~~Chief~~American Financial ~~Officer~~Holdings, ~~and~~Inc., a North Carolina-based national bank holding company. Completion of the transaction is subject to ~~regulatory~~the approval, ~~President~~of Southern Community’s shareholders and ~~Chief~~other ~~Executive Officer,~~customary ~~Merle~~closing Bconditions. ~~Andrews,~~If ~~Executive~~approved ~~Vice~~by ~~President~~the shareholders ~~and~~at ~~Senior~~the ~~Operations~~Special ~~Officer;~~Meeting ~~and~~scheduled ~~James~~for C.September ~~Monroe~~19, ~~Jr.~~2012, ~~Senior~~the ~~Vice~~transaction ~~President~~is expected to be consummated shortly thereafter. ~~and~~A ~~Treasurer~~copy of the press release is attached hereto as Exhibit 99.1.

~~The~~Additional EAInformation ~~Amendments~~About ~~executed~~this by Messrs. Hastings and Monroe and Ms. Andrews provide for them to be eligible, following the consummation of the transactions contemplated by the Agreement and Plan of Merger by and among Southern Community Financial Corporation, Capital Bank Financial Corp. and Winston 23 Corporation, dated March 26, 2012, as amended on June 25, 2012, to receive severance/retention awards equal to up to $250,000, $200,000 and $200,000, respectively. The severance/retention payments to each of Messrs. Hastings and Monroe and Ms. Andrews are expected be paid, subject to the execution and nonrevocation of a waiver and release, upon the named executive officer’s termination of employment, provided that, if the named executive officer resigns for no reason or is terminated for cause prior to the earlier of (i) the 60th day following the conversion date (as determined by Southern Community or its parent) and (ii) the six month anniversary of the consummation of the merger, he or she is only entitled to 50% of the severance/retention payment. The EA Amendments for Mr. Hastings and Ms. Andrews also provide that each officer, to the full extent permitted by law, will be reimbursed for all of his or her legal fees and expenses, up to a maximum of $200,000, which the officer reasonably incurs as a result of any contest by the officer to enforce any payment provision under his or her employment agreement, if the officer prevails in all material respects. In addition, Mr. Hastings and Ms. Andrews are each subject to (i) a covenant not to solicit employees for a one-year period immediately following the termination of his or her employment and (ii) a covenant not to solicit customers for a two-year period immediately following the termination of his or her employment.Transaction

~~The~~In ~~SCA~~connection ~~Amendments~~with the proposed transaction, Southern Community Financial Corporation (“SCMF”) intends to file with ~~Messrs~~the SEC a proxy statement. ~~Hastings~~SCMF also plans to ~~and~~file ~~Monroe~~other ~~and~~relevant ~~Ms.~~documents ~~Andrews~~with ~~provide~~the ~~for~~SEC ~~payment~~regarding ofthe ~~all~~proposed ~~accrued~~transaction. ~~amounts~~THE ~~under~~SHAREHOLDERS ~~each~~OF ~~officer’s~~SCMF ~~salary~~ARE ~~continuation~~URGED ~~agreement~~TO READ THE PROXY ~~upon~~STATEMENT aAND ~~change~~OTHER inRELEVANT ~~control,~~DOCUMENTS ~~with~~FILED ~~such~~WITH ~~payment~~THE toSEC beIF ~~made~~AND WHEN THEY BECOME AVAILABLE, ~~subject~~BECAUSE toTHEY ~~the~~WILL ~~execution~~CONTAIN ~~and~~IMPORTANT INFORMATION. ~~nonrevocation~~Shareholders of SCMF will be able to obtain a ~~waiver~~free copy of the proxy statement (when available) and ~~release,~~the inother documents ~~one~~filed ~~lump~~by ~~sum~~SCMF 10with ~~days~~the ~~following~~SEC at the ~~completion~~SEC’s ofwebsite at sec.gov. or by accessing SCMF’s website at http://www.smallenoughto care.com under the ~~merger~~heading "Investor Relations" or by directing a request by telephone or mail to Southern Community Financial Corporation, 4605 Country Club Road, Winston-Salem, North Carolina 27104-3521, Attention: Corporate Secretary, (336) 768-8500.

~~Southern~~THIS ~~Community~~DOCUMENT ~~Financial~~DOES ~~Corporation~~NOT CONSTITUTE AN OFFER isTO ~~headquartered~~SELL, inOR ~~Winston-Salem~~THE SOLICITATION OF AN OFFER TO BUY, ~~North~~ANY ~~Carolina~~SECURITIES, ~~and~~NOR isSHALL ~~the~~THERE ~~holding~~BE ~~company~~ANY ofSALE ~~Southern~~OF ~~Community~~SECURITIES ~~Bank~~IN ~~and~~ANY ~~Trust,~~STATE aOR ~~community~~JURISDICTION ~~bank~~IN ~~with~~WHICH ~~twenty-two~~SUCH ~~banking~~AN ~~offices~~OFFER, ~~throughout~~SOLICITATION ~~North~~OR ~~Carolina~~SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH STATE OR JURISDICTION.

~~Southern~~Participants ~~Community~~in ~~Financial Corporation’s common stock and trust preferred securities are listed on The Nasdaq Global Select Market under~~ the trading symbols SCMF and SCMFO, respectively. Additional information about Southern Community is available on its website at www.smallenoughtocare.com or by email at investor.relations@smallenoughtocare.com.Solicitation

SCMF and its directors, executive officers, certain members of management, and employees may have interests in the proposed transaction or be deemed to be participants in the solicitation of proxies of SCMF’s shareholders to approve the matters necessary to be approved to facilitate the proposed transaction. Certain information regarding the participants and their interest in the solicitation is set forth in the proxy statement for SCMF’s Annual Meeting of Shareholders filed with the SEC on April 13, 2011. Shareholders may obtain additional information regarding the interests of such participants by reading the proxy statement relating to the proposed transaction when it becomes available.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description of Exhibit
10.1		Amendment Number Two to Employment Agreement of James Hastings dated July 26, 2012
10.2		Amendment Number Three to the Salary Continuation Agreement of James Hastings dated July 26, 2012
10.3		Amendment Number Two to Employment Agreement of Merle B. Andrews dated July 26, 2012
10.4		Amendment Number Two to the Amended and Restated Salary Continuation Agreement of Merle B. Andrews dated July 26, 2012
10.5		Amendment Number Four to the Employment Agreement of James C. Monroe, Jr. dated July 26, 2012
10.6		Amendment Number Four to the Salary Continuation Agreement of James C. Monroe, Jr. dated July 26, 2012

99.1 Press release dated September 4, 2012

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, Southern Community Financial Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Southern Community Financial Corporation
Date: July 31, 2012	By:	/s/ James Hastings________________
Date: September 4, 2012	By:	/s/ James Hastings
		Name: James Hastings
	Name:	James Hastings
		Title: Executive Vice President and Chief Financial Officer
	Title:	Interim Chief Executive Officer and Chief Financial Officer

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