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<SEC-DOCUMENT>0001181431-07-059791.txt : 20071002
<SEC-HEADER>0001181431-07-059791.hdr.sgml : 20071002
<ACCEPTANCE-DATETIME>20071002110508
ACCESSION NUMBER:		0001181431-07-059791
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20071002
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20071002
DATE AS OF CHANGE:		20071002

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANK OF THE JAMES FINANCIAL GROUP INC
		CENTRAL INDEX KEY:			0001275101
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				200500300
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50548
		FILM NUMBER:		071147980

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 1200
		CITY:			LYNCHBURG
		STATE:			VA
		ZIP:			24505
		BUSINESS PHONE:		4348462000
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>rrd174016.htm
<TEXT>


<html><head>
<title>Prepared By R.R. Donnelley Financial -- Form 8-K</title>
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<b>UNITED STATES </b></font></div>

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<b>SECURITIES AND EXCHANGE COMMISSION </b></font></div>

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<b>Washington, D.C. 20549 </b></font></div>

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<b>Form 8-K </b></font></div> <div><font Size="1">&nbsp;</font></div>

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<b>Current Report </b></font></div>

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<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </b></font></div>

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<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;10/02/2007 </b></font></div>




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<b>BANK OF THE JAMES FINANCIAL GROUP INC </b></font></div>

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<b>(Exact name of registrant as specified in its charter)</b></font></div>

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<b>Commission File Number:&nbsp;&nbsp;000-50548</b></font></div>

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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>VA</b></font>
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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>20-0500300</b></font>
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<b>(State or other jurisdiction of</b></font>
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<div Align="center"><font Face="times New Roman" Size="2" Color="#000000"><b>(IRS Employer</b></font>
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<b>incorporation)</b></font>
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<b>Identification No.)</b></font>
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<b>828 Main St., P.O. Box 1200, Lynchburg, VA 24504</b></font></div>


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<b>(Address of principal executive offices, including zip code)</b></font>
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<b>434-846-2000 </b></font>
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<b>(Registrant&#146;s telephone number, including area code)</b></font>
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<b> </b></font>
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<b>(Former name or former address, if changed since last report) </b></font>
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<b>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:<BR><BR>
</b></font>


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<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>

[&nbsp;&nbsp;]&nbsp;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>


[&nbsp;&nbsp;]&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>


[&nbsp;&nbsp;]&nbsp;&nbsp;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Information to be included in the report</b>
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<b>Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;Other Events</b></font>
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On October 1, 2007, Bank of the James Financial Group, Inc. issued a press release announcing a stock repurchase program that authorizes the repurchase of up to 25,000 shares of the Company's common stock.  All purchases will be made on the open market at prevailing prices.</font>
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<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b></font>
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(a)  Financial statements of businesses acquired - not applicable<p>(b)  Pro forma financial information - not applicable<p>(c)  Exhibits<p>99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of the James Financial Group, Inc. Press Release dated October 1, 2007</font>
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<b>Signature(s) </b></font>
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </font>
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	BANK OF THE JAMES FINANCIAL GROUP INC</font>
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	Date: October 02, 2007</font>
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	By:</font>
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	<div Style="margin-left:2%; Text-indent:-2%"><font Face="times New Roman" Size="2" Color="#000000">
	/s/&nbsp;&nbsp;&nbsp;&nbsp;J. Todd Scruggs</font>
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	<div Style="margin-left:2%; Text-indent:-2%"><font Face="times New Roman" Size="2" Color="#000000">
	J. Todd Scruggs</font>
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	<div><font Face="times New Roman" Size="2" Color="#000000">Secretary-Treasurer</font>
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<b>Exhibit Index </b></font>
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	<b>Exhibit&nbsp;No.</b></font>
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	<b>Description</b></font>
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	EX-99.1</font>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>rrd174016_21853.htm
<TEXT>
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<HEAD>
<TITLE>Exhibit 99</TITLE>
</HEAD>
<BODY>
<U><P ALIGN="RIGHT">Exhibit 99.1</P>
</U><P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">Contact:  J. Todd Scruggs, EVP - CFO</P>
<P ALIGN="RIGHT">(434) 846-2000  tscruggs@bankofthejames.com</P>
<P ALIGN="RIGHT"></P>
<P ALIGN="RIGHT">For Immediate Release</P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">Bank of the James Financial Group, Inc. Announces</P>
<P ALIGN="CENTER">Stock Repurchase Program</P>
</B>
<P>Lynchburg, Virginia</P>
<P>October 1, 2007</P>
<P>The Board of Directors of Bank of the James Financial Group, Inc. (the &quot;Company&quot;) has authorized a stock repurchase program whereby the Company is authorized to buy up to 25,000 shares of its common stock.  As of September 30, 2007, the Company had 2,558,578 shares of common stock outstanding.  </P>
<P>The Company expects that repurchases under the plan will be made from time to time in the open market at prevailing prices.  Purchases will be based on, among other things, stock availability and price.  It is anticipated that the repurchases will be made during the next twelve months, although no assurance can be given as to when they will be made or the total number of shares that will be repurchased.</P>
<P>Robert R. Chapman III, President and Chief Executive Officer of the Company, stated, &quot;We believe that the plan to repurchase our shares represents a sound capital management strategy for the acquisition of common shares at times when we believe that the market may not value our stock appropriately.  We believe the repurchase plan will benefit the Company and our stockholders.&quot;</P>
<P>Bank of the James Financial Group, Inc., the common stock of which is quoted on the OTC Bulletin Board under the symbol &quot;BOJF&quot; (some web systems require &quot;BOJF.OB&quot; to obtain a quote), is the holding company for Bank of the James (the &quot;Bank&quot;), a state chartered bank that shares the Company's headquarters at 828 Main Street, 3rd Floor, Lynchburg, Virginia 24504. The Bank currently operates seven full service locations in the Lynchburg, Virginia area, as well as mortgage origination offices in Forest and the Smith Mountain Lake area of Bedford County, Virginia.  In addition BOTJ Investment Group, Inc., a wholly-owned subsidiary of Bank of the James Financial Group, Inc., provides institutional and retail investment services and is located in the Bank's Church Street branch in downtown Lynchburg.</P>
<P>For more information regarding the Bank's products and services and for Bank of the James Financial Group, Inc. investor-relations information, please visit  http://www.bankofthejames.com.</P>
<P ALIGN="CENTER"># # #</P>
<B><P>Cautionary Statement Regarding Forward-Looking Statements</P>
</B>
<P>This press release contains statements that constitute &quot;forward-looking statements&quot; within the meaning of the Private Securities Litigation Reform Act of 1995.  The words &quot;believe,&quot; &quot;estimate,&quot; &quot;expect,&quot; &quot;intend,&quot; &quot;anticipate,&quot; &quot;plan&quot; and similar expressions and variations thereof identify certain of such forward-looking statements which speak only as of the dates on which they were made.  Bank of the James Financial Group (the &quot;Company&quot;) undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.  Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.  Such factors include, but are not limited to competition, general 
economic conditions, potential changes in interest rates, and changes in the value of real estate securing loans made by Bank of the James (the &quot;Bank&quot;), the sole subsidiary of Bank of the James Financial Group, Inc.  Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's filings with the Securities and Exchange Commission and previously filed by the Bank (as predecessor of the Company) with the Federal Reserve Board.</P>
<P ALIGN="CENTER"># # #</P>
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