United States Department of The Treasury announced that it plans to sell stakes in 11 banks as part of Troubled Asset Relief Program. The 11 banks are Blue Ridge Bancshares, Inc., First Gothenburg Bancshares, Inc., Blackhawk Bancorp Inc., Germantown Capital Corporation, Inc., CenterBank (Milford, OH), Oak Ridge Financial Services, Inc., Congaree Bancshares Inc., Metro City Bank, People Bancshares of TN, Inc., Little Bank Inc. and HomeTown Bankshares Corporation. All 11 banks submitted an offer to the Treasury to buy back their own preferred shares but other investors will be also allowed to place bids at the auction.

Oak Ridge Financial Services, Inc., Annual General Meeting, Jun 07, 2012., at 19:00 US Eastern Standard Time. Location: Corporate Center. Agenda: To elect three persons to serve as directors of the company until the 2015 annual meeting of shareholders or until their successors are duly elected and qualified; to vote on a non-binding advisory resolution for approval of the executive compensation disclosed in the accompanying proxy statement; to ratify the appointment of Elliott Davis, PLLC, as the independent registered public accounting firm for the company for the fiscal year ending December 31, 2012; and to transact such other business as may properly come before the annual meeting or any adjournments thereof.

On January 24, 2012, Herbert M. Cole notified Oak Ridge Financial Services, Inc.'s Board of Directors of his resignation from the board of Directors effective January 31, 2012.