U.S.
      SECURITIES AND EXCHANGE COMMISSION


Washington,
      D.C. 20549




FORM
      10-KSB/A




Amendment
      No. 1


ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15 (d) OF




THE
      SECURITIES EXCHANGE ACT OF 1934





FOR
      FISCAL YEAR ENDED DECEMBER 31, 2007





Commission
      File Number:   000-30515





WESTSTAR
      FINANCIAL SERVICES CORPORATION


(Name
      of
      small business issuer as specified in its charter)





NORTH
      CAROLINA


(State
      of
      Incorporation)





56-2181423


(I.R.S.
      Employer Identification No.)


79
      Woodfin Place




Asheville,
      North
      Carolina  28801




(Address
      of Principal Executive Office)





(828)
      252-1735


(Registrant’s
      telephone number, including area code)





Securities
      registered pursuant to Section 12(g) of the Exchange Act:





COMMON
      STOCK, $1.00 PAR VALUE





Check
      whether the Issuer is not required to file reports pursuant to Section 13 or
      15(d) of the Exchange Act. o





Note:  Checking
      the box above will not relieve any registrant required to file reports pursuant
      to Section 13 or 15(d) of the Exchange Act from their obligations under those
      Sections.





Check
      whether the Issuer (1) has filed all reports required to be filed by Section
      13
      or 15(d) of the Exchange Act during the past 12 months (or for such shorter
      period that the Registrant was required to file such reports), and (2) has
      been
      subject to such filing requirements for the past 90 days.  YESýNOo





Check
      if
      there is no disclosure of delinquent filers in response to Item 405 of
      Regulation S-B contained in this form, and no disclosure will be contained,
      to
      the best of the Registrant’s knowledge, in definitive proxy or information
      statements incorporated by reference in Part III of this Form 10-KSB or any
      amendment to this Form 10-KSB.  ý





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act).  Yes  o  No
      ý





The
      Registrant’s revenues for the year ended December 31, 2007 were
      $14,430,200.





The
      aggregate market value of the voting stock held by non-affiliates of the
      Registrant at December 31, 2007 was approximately $21,715,312.





The
      number of shares of the Registrant’s Common Stock outstanding on December 31,
      2007 was 2,118,437.





Documents
      Incorporated by Reference:





None





Transitional
      Small Business Disclosure
      Format                  Yes
o          No  ý








EXPLANATORY
      NOTE





Weststar
      Financial Services Corporation
      (the “Company”) is filing this Amendment No. 1 to its Annual Report on Form
      10-KSB, filed with the Securities and Exchange Commission on March 7, 2008,
      solely to furnish Exhibit 23 to the Annual Report, which was not included in
      the
      initial filing, and to make certain technical amendments to Item
      13.  Exhibit 23 consists of the consent of the Company’s independent
      registered public accounting firm for the incorporation by reference of the
      Company’s consolidated financial statements and the report of independent
      registered public accounting firm, which appear in the Company’s Annual Report
      on Form 10-KSB for the year ended December 31, 2007, into the Company’s
      registration statements on Form S-8.





The
      Items
      of the Company’s Annual Report on Form 10-KSB which are amended herein
      are:





ITEM
      13:  EXHIBITS





Exhibit
      23 is being filed herewith.  Exhibits 31.1, 31.2, 32.1, and 32.2 are
      being refiled herewith.





3(i)  Articles
      of Incorporation of the Registrant*




3(ii)  Bylaws
      of the Registrant*




10(i)  Employment
      Agreement between the Bank and G. Gordon Greenwood dated February 9, 2000,
      a
      management contract*




10(ii)   Employment
      Agreement between the Bank and Randall C. Hall, dated March 20, 1998, a
      management contract*





10(iii)
      401(k) Savings Plan of the Bank*




10(iv)
      2001 Incentive Stock Option Plan, a compensatory plan**




10(v)
      2001 Nonstatutory Stock Option Plan, a compensatory plan**





10(vi)  Amended  and  Restated  Declaration  of
      Trust by and between Wells Fargo Bank, N.A., as Delaware Trustee and
      Institutional Trustee, Weststar Financial Services Corporation, as Sponsor,
      and
      certain Administrative Trustees, dated October 10, 2003***





10(vii)  Indenture
      between Weststar  Financial  Services  Corporation
      and Wells Fargo Bank,  N.A., as Indenture trustee, dated October 10,
      2003***





10(viii)  Guarantee   Agreement  by  and  between  Weststar  Financial
      Services Corporation and Wells Fargo Bank, N.A., as Guarantee Trustee, dated
      October 10, 2003***




10(ix)
      Floating Rate Junior Subordinated Debenture of Weststar Financial Services
      Corporation, dated October 10, 2003 (included as Exhibit A to Exhibit
      10(vii))***





10(x)  Employment
      Agreement between the Bank and John R. Hamrick dated February 18, 2005, a
      management contract





10(xi)
      2007 Incentive Stock Option Plan, a compensatory plan****





10(xii)
      2007 Nonstatutory Stock Option Plan, a compensatory plan****





21  Subsidiaries





23     Consent
      of Independent Registered Public Accounting Firm





31.1  Certification
      of Principal Executive Officer Pursuant to Section 302 of the Sarbanes Oxley
      Act
      of 2002





31.2  Certification
      of Principal Financial Officer Pursuant to Section 302 of the Sarbanes Oxley
      Act
      of 2002





32.1  Certification
      of Principal Executive Officer Pursuant to Section 906 of the Sarbanes Oxley
      Act
      of 2002





32.2  Certification
      of Principal Financial Officer Pursuant to Section 906 of the Sarbanes Oxley
      Act
      of 2002





99   2008
      Proxy Statement*****





*Incorporated by reference to the Registration Statement on Form S-4
      (Registration No. 333-30200 filed February 11, 2000 with the Securities and
      Exchange Commission.)


**Incorporated
      by reference to the Registrant’s Annual Report on Form 10-KSB for the year ended
      December 31, 2001 filed with the Securities and Exchange Commission on March
      22,
      2002.





***Incorporated
      by reference to the Registrant’s Current report on Form 8-K, filed with the
      Securities and Exchange Commission on November 5, 2003.





****Incorporated
      by reference to the Registration Statement on Form S-8 (Registration No.
      333-145500 filed August 16, 2007 with the Securities and Exchange
      Commission).





*****As
      filed with the SEC pursuant to Rule 14a-6(b).





SIGNATURES





In
      accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused
      this report to be signed on its behalf by the undersigned, thereunto duly
      authorized.





WESTSTAR
                FINANCIAL
                SERVICES CORPORATION(Registrant)By:
            /s/
                Randall C.
                HallRandall
                C. HallExecutive
                Vice President, Chief Financial Officerand
                Principal Accounting OfficerDate:
            March
                17, 2008














EXHIBIT
      INDEX





Exhibit
              Number
            Exhibit
            Page
              Number23
            Consent
                of Independent Registered Public Accounting Firm
            Filed
                herewith31.1
            Certification
                of Principal Executive Officer Pursuant to Section 302 of the Sarbanes
                Oxley Act of 2002
            Filed
                herewith31.2
            Certification
                of Principal Financial Officer Pursuant to Section 302 of the Sarbanes
                Oxley Act of 2002
            Filed
                herewith32.1
            Certification
                of Principal Executive Officer Pursuant to Section 906 of the Sarbanes
                Oxley Act of 2002
            Filed
                herewith32.2
            Certification
                of Principal Financial Officer Pursuant to Section 906 of the Sarbanes
                Oxley Act of 2002
            Filed
                herewith