FORM 5
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[ ] Form 4 Transactions Reported 		UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

                                                                                  

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

FARRAR JEFFREY W

2. Issuer Name and Ticker or Trading Symbol

VIRGINIA FINANCIAL GROUP INC [VFGI]

5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP and CFO

(Last)          (First)          (Middle)

102 SOUTH MAIN STREET

3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY)
12/31/2007 
(Street)

CULPEPER, VA 22701

(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person


Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock   12/31/2007     L   66   (1) A $26.46   (2) 6572   D    
Common Stock                 1078   I   Joint with Parent  

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date
(MM/DD/YYYY) 		7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options   $9.73                 3/15/2001   3/15/2010   Common Stock   8484     8484   D    
Employee Stock Options   $21.87                 12/2/2003   12/2/2012   Common Stock   3750     12234   D    
Employee Stock Options   $19.72                 4/15/2004   4/15/2013   Common Stock   2835     15069   D    
Employee Stock Options   $23.83                 1/22/2005   1/22/2014   Common Stock   2567     17636   D    
Employee Stock Options   $30.00                 12/31/2006   10/12/2015   Common Stock   4583     22219   D    
Employee Stock Options   $28.09                 3/2/2007   3/2/2011   Common Stock   8525     30744   D    
Employee Stock Options   $31.65                 1/16/2008   1/16/2012   Common Stock   7822     38566   D    

Explanation of Responses:
( 1)  Dividend reinvestment purchase dates of 2/23/07, 5/29/07, 8/20/07 and 11/26/07.
( 2)  Weighted average purchase price based on various reinvestment purchase dates during the year.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
FARRAR JEFFREY W
102 SOUTH MAIN STREET
CULPEPER, VA 22701

EVP and CFO

Signatures
Jeffrey W. Farrar 2/13/2008
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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