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 (Date of earliest event reported) ~~January~~February 2122, 2011

WESTSTAR FINANCIAL SERVICES CORPORATION
(Exact name of Registrant as specified in its charter)
North Carolina	000-30515	56-2181423
(State or other jurisdiction	(Commission File Number)	(IRS Employer Identification
of incorporation)		No.)
79 Woodfin Place, Asheville, North Carolina		28801-2426
P.O. Box 1285, Asheville, North Carolina		28802
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code (828) 252-1735
Registrant’s telephone number, including area code (828) 575-4608
Not Applicable
79 Woodfin Place, Asheville, North Carolina 28801-2426
(Former name or former address, if changed since last report)

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)

[ ] 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 2.01 Completion of Acquisition or Disposition of Assets

On January 21, 2011, the Registrant’s wholly-owned subsidiary, The Bank of Asheville, Asheville, North Carolina (the “Bank”), was closed by the North Carolina Office of the Commissioner of Banks and the Federal Deposit Insurance Corporation (the “FDIC”) was named receiver. No advance notice is given to the public when a financial institution is closed.

As a result of the closure and pursuant to the Federal Deposit Insurance Act, the Registrant has lost all rights with respect to the issued and outstanding shares of the Bank’s common stock and such shares now have no value. The Registrant is no longer a bank holding company registered under the Bank Holding Company Act of 1956.

The FDIC, acting in its capactiy as receiver, entered into a purchase and assumption agreement with First Bank, Troy, North Carolina, whereby First Bank assumed all deposit liabilities and substantially all of the assets of the Bank. Each of the Bank’s five offices re-opened as offices of First Bank on January 24, 2011.

ITEM 8.01 Other Events.

~~The~~On ~~disclosure~~February ~~contained~~22, ~~under~~2011, ~~Item~~Weststar ~~2.01~~Financial ofServices Corporation sent a letter to the ~~Current~~holders ~~Report~~of onits ~~Form~~common ~~8-K~~stock. The letter is ~~incorporated~~attached ~~into~~as exhibit 99.1 to this ~~Item~~report ~~8.01~~and is incorporated by reference herein.

ITEM 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	Letter from Randall C. Hall, President and CEO, Weststar Financial Services Corporation, and Darryl J. Hart, Chairman of the Board of Directors, Weststar Financial Services Corporation, to the Shareholders of Weststar Financial Services Corporation Common Stock (Feb. 22, 2011)

This Current Report on Form 8-K (including information included or incorporated by reference herein) may contain, among other things, certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) statements regarding certain of the Registrant’s goals and expectations with respect to earnings, income per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (ii) statements preceded by, followed by or that include the words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “projects,” “outlook” or similar expressions. These statements are based upon the current belief and expectations of the Registrant’s management and are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond the Registrant’s control).

SIGNATURES

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.

	WESTSTAR FINANCIAL SERVICES CORPORATION



	By:	/s/ Randall C. Hall
		Randall C. Hall
		Chief Executive Officer, President
		and Chief Financial Officer

Dated: ~~January~~February 24, 2011

EXHIBIT INDEX

Exhibit No.	Description of Exhibit
99.1	Letter from Randall C. Hall, President and CEO, Weststar Financial Services Corporation, and Darryl J. Hart, Chairman of the Board of Directors, Weststar Financial Services Corporation, to the Shareholders of Weststar Financial Services Corporation Common Stock (Feb. 22, 2011)

Filing Compare · WESTSTAR FINANCIAL SERVICES CORP