SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

___________________________________________

FORM 10-QSB

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2002.

Commission File No. 33-31013-A

COMMUNITY NATIONAL BANCORPORATION

(Exact name of small business issuer as specified in its charter)

|Georgia(State of Incorporation) | 58-1856963
(I.R.S. Employer Identification No.)
|------------------------------- | -----------------------------------------------

561 E. Washington Avenue, P.O. Box 2619, Ashburn, Georgia 31714(Address of Principal Executive Offices)

(229) 567-9686(Issuer's Telephone Number, Including Area Code)

Not Applicable(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Check whether the issuer (1) filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes XNo ______

APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common equity as of the latest practicable date.

Common stock, no par value per share, 2,011,495 shares outstanding as of August 12, 2002.

PART I - FINANCIAL INFORMATION

Item 1.	Financial Statements

COMMUNITY NATIONAL BANCORPORATION
ASHBURN, GEORGIA
Consolidated balance Sheets

|ASSETS                                                                                                                                                                                                                                                                                               
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                     
|Cash and due from banks
Interest bearing deposits in other banks
Federal funds sold
TOTAL CASH AND CASH EQUIVALENTS
Securities:
Available for sale, at fair values
Loans, net
Property and equipment, net
Other real estate owned
Goodwill, net
Other assets
Total Assets                            
|LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                                                                                                                                                                                                 
|Liabilities:
	Deposits
		Non-interest bearing deposits
		Interest bearing deposits
		Total deposits
Note payable
FHLB borrowings
Other liabilities
	Total liabilities                                                                                                                                
|Commitments and contingencies                                                                                                                                                                                                                                                                        
|Shareholders' Equity:
	Common stock, no par value, 50,000,000
	shares authorized, 1,938,381 (6/02) and
	1,932,381 (12/01) shares issued and outstanding
	Retained earnings
	Treasury stock
	Unrealized gain on securities, net
	Total Shareholders' Equity
Total liabilities and shareholders' equity

Refer to notes to the consolidated financial statements.



COMMUNITY NATIONAL BANCORPORATION
ASHBURN, GEORGIA
Consolidated Statements of Income
for the three months ended

|                                                                                                                                                                                                                                          | June 30,                                                             
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------
|                                                                                                                                                                                                                                          | 2002                                                                 
|Interest income
Interest expense
Net interest income                                                                                                                                                                                      | $4,802,5452,328,2192,474,326                                         
|Provisions for possible loan losses                                                                                                                                                                                                       | 1,042,000                                                            
|Net interest income after provisions for possible loan losses                                                                                                                                                                             | 1,432,326                                                            
|Other income:
Service charges 
Other fees
Gain on sale of securities
Total other income                                                                                                                                                   | 367,649
120,7787,196
495,623                                         
|Salaries and benefits
Advertising and business development
Repairs and maintenance
Depreciation and amortization
Legal and professional
Data processing
Regulatory fees and assessments
Other operating expenses
Total operating expenses | 1,029,381
63,046
79,115
143,247
65,431
94,386
34,758618,473
2,127,837
|Net income before taxes
Provision for income taxes                                                                                                                                                                                        | (199,888)(123,306)                                                   
|Net income after taxes                                                                                                                                                                                                                    | $ (76,582)                                                           
|Basic income per share                                                                                                                                                                                                                    | $ (0.04)                                                             
|Diluted income per share                                                                                                                                                                                                                  | $ (0.04)                                                             



Refer to notes to the consolidated financial statements.



COMMUNITY NATIONAL BANCORPORATION
ASHBURN, GEORGIA
Consolidated Statements of Income
for the six months ended

|                                                                                                                                                                                                                                      | June 30,                                                                 
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------
|                                                                                                                                                                                                                                      | 2002                                                                     
|Interest Income
Interest expense
Net interest income                                                                                                                                                                                  | $9,716,2454,903,8694,812,376                                             
|Provisions for possible loan losses                                                                                                                                                                                                   | 1,792,000                                                                
|Net interest income after provisions for possible loan losses                                                                                                                                                                         | 3,020,376                                                                
|Other income
Service charges
Other fees
Total other income                                                                                                                                                                            | 703,007
198,0599,459
910,525                                             
|Salaries and benefits
Advertising and business development
Repairs and maintenance
Depreciation and amortization
Legal and professional
Data processing
Regulatory fees and assessments
Other operating expenses
Total other expenses | 2,067,276
118,221
140,021
286,494
140,487
195,106
65,302970,533
3,983,440
|Net income before taxes
Provision for income taxes                                                                                                                                                                                    | (52,539)20,545                                                           
|Net income after taxes                                                                                                                                                                                                                | $(73,084)                                                                
|Basic income per share                                                                                                                                                                                                                | $ (.04)                                                                  
|Diluted income per share                                                                                                                                                                                                              | $ (.04)                                                                  



Refer to notes to the consolidated financial statements.



COMMUNITY NATIONAL BANCORPORATION
ASHBURN, GEORGIA
Consolidated Statements of Cash Flows
(Unaudited)

|                                                                                                                                                                                                                                                           | For the six-month periodEnded June 30,                                      
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------
|                                                                                                                                                                                                                                                           | 2002                                                                        
|Cash flows from operating activities                                                                                                                                                                                                                       | $2,686,795                                                                  
|Cash flows from investing activities:
	Decrease in Other Real Estate Owned
	Purchased of fixed assets
	Sale of securities, AFS
	Purchase of securities, AFS
	Maturity and paydowns, AFS 
	(Increase) in loans, net
		Net cash used in investing activities | $ 444,657
(13,298)
1,982,500
(11,060,224)
4,150,000(12,635,731)
(17,132,096)
|Cash flows from financing activities:
	Increase in borrowings
	(Decrease) in deposits
	Payment of cash dividends
	Sale of treasury stock
	Exercise of warrants
Net cash provided by financing activities                                                   | 8,050,000
(3,375,544)
(192,900)
- -20,000
4,501,556                         
|Net decrease in cash and cash equivalents
Cash and cash equivalents,
	beginning of period
Cash and cash equivalents, end of period                                                                                                                         | (9,943,745)24,521,171
$14,577,426                                           









Refer to notes to the consolidated financial statements.



COMMUNITY NATIONAL BANCORPORATION
ASHBURN, GEORGIA
Consolidated Statements of Changes in Shareholders' Equity (Unaudited)
for the six-month periods ended June 30, 2001 and 2002

|                                                                        |                    | Paid inCapital | RetainedEarnings | Accumulated
Other
ComprehensiveIncome |          
|----------------------------------------------------------------------- | ------------------ | -------------- | ---------------- | ------------------------------------- | ---------
|                                                                        | Common
StockShares | Treasury Stock | Total           
|Balance December 31, 2000                                               | 1,823,507          | $(26,941)      | $10,861,822      | $6,957,865                            | $(49,372)
|Comprehensive Income:
Net income,
six-month period 
ended June 30, 2001 | - -                | - -            | - -              | 1,116,094                             | - -      
|Net unrealized gain
on securities, six-month
period ended
June 30, 2001 | - -                | - -            | - -              | - -                                   | 160,004  
|Total comprehensive income                                              | - -                | - -            | - -              | 1,116,094                             | 160,004  
|Sale of treasury stock                                                  | - -                | 26,941         | - -              | - -                                   | - -      
|Less: Distribution of dividends                                         | - -                | - -            | - -              | (182,116)                             | - -      
|Balance,
June 30, 2001                                                  | 1,823,507          | $ - -          | $10,861,822      | $7,891,843                            | $110,632 
|Balance,
December 31, 2001                                              | 1,932,381          | $(26,970)      | $11,224,734      | $7,092,559                            | $87,555  
|Exercise of stock warrants                                              | 6,000              | - -            | 20,000           | - -                                   | - -      
|Comprehensive Income:
Net Loss, six-month period ended June 30, 2002    | - -                | - -            | - -              | (73,084)                              | - -      
|Net unrealized gain on securities, six-month period ended June 30, 2002 | - -                | - -            | - -              | - -                                   | 106,411  
|Total comprehensive income                                              | - -                | - -            | - -              | (73,084)                              | 106,411  
|Less: Distribution of dividends                                         | - -                | - -            | - -              | (192,900)                             | - -      
|Balance, June 30, 2002                                                  | 1,938,181          | $(26,970)      | $11,244,734      | $6,826,575                            | $193,966 

Refer to notes to the consolidated financial statements.

Note 1 - Basis of Presentation

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-QSB. Accordingly, they do not include all the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three-month and six-month periods ended June 30, 2002 are not necessarily indicative of the results that may be expected for the year ending December 31, 2002. These statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in Form 10-KSB for the year ended December 31, 2001.

Note 2 - Organization of the Business

Community National Bancorporation, Ashburn, Georgia (the "Company") was organized in August, 1989 to serve as a holding company for a proposed de novo bank, Community National Bank, Ashburn, Georgia ("CNB Ashburn"). During 1998, the Company sold and issued 400,000 shares of its common stock at $10.00 per share. This public offering yielded approximately $4.0 million, all of which was invested during 1999 in a de novo bank, Cumberland National Bank, St. Marys, Georgia ("CNB St. Marys"). On February 24, 2000, the Company acquired Tarpon Financial Corporation and its 100% owned subsidiary bank, First National Bank, Tarpon Springs, Florida ("FNB Tarpon Springs"). The above acquisition was effected through both the exchange of shares and the payment of cash. CNB Ashburn, CNB St. Marys and FNB Tarpon Springs (collectively, "the Banks") were chartered by and are currently regulated by the Office of the Comptroller of the Currency (the "OCC"). The Banks are primarily engaged in the business of obtaining deposits and providing commercial, consumer and real estate loans to the general public. Bank deposits are each insured up to $100,000 by the Federal Deposit Insurance Corporation (the "FDIC") subject to certain limitations imposed by the FDIC.

Note 3 - Recent Accounting Pronouncements

Statement of Financial Accounting Standards No. 141, "Business Combinations" ("FASB 141") addresses financial accounting and reporting for business combinations and supersedes both APB Opinion No. 16, "Business Combinations" and FASB Statement No. 38, "Accounting for Preacquisition Contingencies of Purchased Enterprises." All business combinations in the scope of FASB 141 are to be accounted for using one method - the purchase method. The provisions of FASB 141 apply to all business combinations initiated after June 30, 2001. The adoption of FASB 141 is not expected to have a material impact on the financial position or results of operations of the Company.

Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets" ("FASB 142") addresses financial accounting and reporting for acquired goodwill and other intangible assets and supersedes APB Opinion No. 17, "Intangible Assets." FASB 142 addresses how intangible assets that are acquired individually or with a group of other assets (but not those acquired in a business combination) should be accounted for in financial statements upon their acquisition. FASB 142 also addresses how goodwill and other intangible assets should be accounted for after they have been initially recognized in the financial statements. FASB 142 is effective for fiscal years beginning after December 15, 2001. The adoption of FASB 142 is not expected to have a material impact on the financial position or results of operations of the Company.

Statement of Financial Accounting Standards No. 143, "Accounting for Asset Retirement Obligations" ("FASB 143") addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated asset retirement costs. FASB 143 applies to all entities. FASB 143 also applies to legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and (or) the normal operation of a long-lived asset, except for certain obligations of leases. FASB 143 amends FASB Statement No. 19, "Financial Accounting and Reporting by Oil and Gas Producing Companies". FASB 143 is effective for fiscal years beginning after December 15, 2002. The adoption of FASB 143 is not expected to have a material impact on the financial position or results of operations of the Company.

Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets" ("FASB 144") addresses financial accounting and reporting for the impairment or disposal of long-lived assets. FASB 144 supersedes both FASB Statement No. 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of" and the accounting and reporting provisions of APB Opinion No. 30, "Reporting the Results of Operation - Reporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions," for the disposal of a Segment of a business (as previously defined in that opinion). FASB 144 also amends ARB No. 51, "Consolidated Financial Statements" to eliminate the exception to consolidation for a subsidiary for which control is likely temporary. The provisions of FASB 144 are required to be applied with fiscal years beginning after December 15, 2001. Adoption of FASB 144 is not expected to have a material impact on the financial position or results of operations of the Company.

Item 2 - Management Discussion and Analysis of Financial Condition and Results of Operation.

Liquidity and sources of capital

Community National Bancorporation (the "Company") was organized in August, 1989 and began banking operations through its wholly owned subsidiary, CNB Ashburn, on August 6, 1990. Since then, CNB Ashburn established three additional branches and has total assets approximating $175.1 million at June 30, 2002. During 1999, the Company sold additional stock for approximately $4.0 million, utilizing the proceeds to establish another subsidiary, CNB St. Marys, which began operations in October, 1999. On June 30, 2002, CNB St. Marys had total assets amounting to $51.6 million. On February 24, 2000, the Company acquired FNB Tarpon Springs which, as of June 30, 2002, had total assets approximating $31.4 million.

The Company opened for business in 1990 with $3.4 million in its capital accounts. By June 30, 2002, the capital accounts had increased to $18.2 million through the sale of additional stock and through retained earnings. As evidenced by the table below, based on regulatory guidelines, all three subsidiary banks exceed the minimum guidelines for well capitalized banks.

|Bank                                      | LeverageRatio  | Minimum
RegulatoryGuidelines | Risk
WeightedRatio | Minimum
RegulatoryGuidelines
|----------------------------------------- | -------------- | ---------------------------- | ------------------ | ----------------------------
|CNB Ashburn
CNB St. Marys
FNB Tarpon Spgs | 7.6%
8.5%
8.6% | 4.0%
4.0%
4.0%               | 10.2%
12.0%
13.9%  | 8.0%
8.0%
8.0%              

During the six-month period ended June 30, 2002, the Company increased its borrowings by $2,050,000 to $5,042,000. Of the $2,050,000 increase, $1,550,000 was utilized to supplement CNB St. Marys' capital accounts, and the remaining $500,000 was injected as capital into FNB Tarpon Springs. The capital injections were necessary because both banks suffered significant loan losses. For the six-month period ended June 30, 2002, net (losses) at CNB St. Marys and FNB Tarpon Springs amounted to $(878,847) and $(236,060), respectively. CNB Ashburn, the Company's other subsidiary bank reported a profit of $941,517 for the six-month period ended June 30, 2002.

During the six-month period ended June 30, 2002, total assets increased by $4.8 million to $260.0 million, representing an annualized growth rate of 3.7%. During the six-month period ended June 30, 2002, cash and cash equivalents decreased by $10.0 million to $14.6 million, securities increased by $5.2 million to $20.5 million, loans increased by $10.9 million to $211.6 million, and all other assets, including goodwill and property and equipment, decreased by $1.3 million to $13.3 million. To fund the above growth, borrowings, including borrowing from the Federal Home Loan Bank, increased by $8.0 million to $11.0 million, and other liabilities increased by $.3 million to $1.7 million; the capital accounts decreased by $.1 million to $18.2 million, and deposits decreased by $3.4 million to $229.0 million.

Liquidity is the Company's ability to meet all deposit withdrawals immediately, while also providing for the credit needs of customers. The June 30, 2002 financial statements evidence a satisfactory liquidity position as total cash and cash equivalents amounted to $14.6 million, representing 5.6% of total assets. Investment securities amounted to $20.5 million, representing 7.9% of total assets; these securities provide a secondary source of liquidity since they can be converted into cash in a timely manner. The Banks are members of the Federal Reserve System and are maintaining relationships with several correspondent banks and, thus, could obtain funds on short notice. The Company's management closely monitors and maintains appropriate levels of interest earning assets and interest bearing liabilities, so that maturities of assets are such that adequate funds are provided to meet customer withdrawals and loan demand. With the exception of the Agreement entered into between CNB St. Marys and the OCC, the bank's primary regulator, the Company is not aware of any trends, demands, commitments, events or uncertainties that will result in or are reasonably likely to result in its liquidity increasing or decreasing in any material way. The Agreement is described in the Company's 10-QSB filed with the Securities and Exchange Commission for the period ended March 31, 2002. Management believes that CNB St. Marys is in substantial compliance with the Agreement.

Results of Operations

For the three-month period ended June 30, 2002, net (loss) amounted to $(76,582), or $(.04) per diluted share. For the three-month periods ended June 30, 2001, net income amounted to $615,312, or $.31 per diluted share. Earnings decreased significantly when comparing the three-month period ended June 30, 2002 with the three-month period ended June 30, 2001 largely due to the following factors:

(i)	During the three-month period ended June 30, 2002, two of three subsidiary banks experienced significant losses. CNB St. Marys and FNB Tarpon Springs reported net (losses) of approximately $(621,000) and $(46,000), respectively. These losses were triggered by heavy loan losses. The third subsidiary bank, CNB Ashburn, reported a net income of approximately $416,000 and was generally in line with its average performance over the past year. Due to the heavy loan losses experienced at two of the three bank subsidiaries, the provision for loan losses (an expense item) increased from $370,000 for the three-month period ended June 30, 2001 to $1,042,000 for the three-month period ended June 30, 2002, an increase of $672,000.

(ii)	From June 30, 2001 through June 30, 2002, earning assets increased from $223.8 million to $244.4 million, an increase of 9.2%. Despite the above increase, however, net interest income decreased from approximately $2.9 million for the three-month period ended June 30, 2001 to $2.5 million for the three-month period ended June 30, 2002, a decline of 18.9%. The decrease in net interest income during the three-month period ended June 30, 2002 when compared to the three-month period ended June 30, 2001 resulted from the fact that the decline in the yield on earning assets outpaced the decline in the cost of funds.

For the six-month period ended June 30, 2002, net (loss) amounted to $(73,084), or $(.04) per diluted share. By comparison, for the six-month period ended June 30, 2001, net income amounted to $1,116,094, or $.57 per diluted share. Below is a more detailed discussion concerning results of operations for the six-month periods ended June 30, 2002 and 2001.

1. Earning assets have increased from $223.8 million at June 30, 2001 to $244.4 million at June 30, 2002. Despite the increase, however, net interest income, which represents the difference between interest received on interest earning assets and interest paid on interest bearing liabilities, decreased from $5,263,814 to $4,812,376 for the same period one year later, representing a decline $451,438, or 8.6%.
2. Net yield on earning assets decreased from 5.11% for the six-month period ended June 30, 2001 to 3.94% for the six-month period ended June 30, 2002. The reason for the decrease in the net yield on earning assets is due to the fact that the yield on earning assets declined by 275 basis points, from 10.70% for the six-month period ended June 30, 2001 to 7.95% for the six-month period ended June 30, 2002, while the cost of funds declined by only 140 basis points, from 5.76% for the six-month period ended June 30, 2001 to 4.36% for the six-month period ended June 30, 2002. The decline in the net yield on earning assets for the six-month period ended June 30, 2002 when compared to the six-month period ended June 30, 2001 is due to the following:

1. To combat the weakening economy, the Federal Reserve Board has steadily lowered interest rates to attract both businesses and individuals alike to borrow money and jump-start the economy. The Company, in order to remain competitive, reduced its rates along with its competitors.
2. Because the Company is asset-sensitive (as opposed to liability-sensitive), the rates it charges borrowers on its assets dropped faster than the rates it pays depositors on its liabilities, resulting in a lower net yield on earning assets.
3. To lower the risk profile of its assets, and thus improve the quality of its assets, the Company has moved towards a more conservative credit underwriting criteria. In order to improve its overall asset quality, the Company was willing to accept lower yields on its assets, thus reducing the net yieldon earning assets.

1. Other income increased from $737,576 for the six-month period ended June 30, 2001 to $910,525 for the six-month period ended June 30, 2002. The above increase of $172,949 represents a 23.4% improvement. This increase is primarily due to increased activity in transactional accounts due to a higher deposit base, as well as to increases in the fee structure. As a percent of total assets, other income increased from .62% for the six-month period ended June 30, 2001 to .70% for the six-month period ended June 30, 2002.
2. Other operating expenses increased from $3,591,296 for the six-month period ended June 30, 2001 to $3,983,440 for the six-month period ended June 30, 2002. The above increase amounting to $392,144 represents an increase of 10.9%. The primary reason for the increase is due to an increase in personnel expense. As a percent of total assets, other operating expenses increased slightly from 3.02% for the six-month period ended June 30, 2001 to 3.06% for the six-month period ended June 30, 2002.
3. Provision for loan losses (an expense item) for the six-month periods ended June 30, 2002 and 2001 amounted to $1,792,000 and $680,000, respectively. This represents an increase of $1,112,000, or 163.5%. This increase in an expense item is the primary contributor to the significant decline in earnings for the six-month period ended June 30, 2002 when compared to the six-month period ended June 30, 2001. The heavy provision in the amount of $1,792,000 was necessary because net charge-offs for the six-month period ended June 30, 2002 amounted to $1,865,422.

At June 30, 2002, the allowance for loan losses amounted to approximately $4.2 million, or 1.94% of gross loans. At December 31, 2001, the allowance amounted to approximately $4.3 million, or 2.07% of gross loans. Management considers the allowance for loan losses to be adequate and sufficient to absorb possible future losses; however, there can be no assurance that charge-offs in future periods will not exceed the allowance for loan losses or that additional provisions to the allowance will not be required.

As discussed earlier, the Company increased its borrowings by $2,050,000 in order to supplement the capital accounts of two of its three subsidiary banks. Of the $6.0 million line of credit, the Company utilized $5,042,000, leaving $958,000 in additional borrowing capacity.

With respect to the above line of credit (the "LOC"), as of June 30, 2002, the Company was in violation of several negative covenants imposed by the lender because: (i) the Company's capital was below $18.8 million; (ii) the Company's return on average assets was less than .60% on an annualized basis; and (iii) net charge-offs at CNB St. Marys were more than .75% of average loans. These items were discussed with the lender, and, as of the date of this Report, no action has either been taken or proposed by the lender. It is noted that one of the remedies that is available to the lender is to declare the LOC due and payable. Management is engaged in efforts to refinance the LOC with another lender. There is no assurance, however, that such efforts will be successful.

An examination of the financial condition (Safety and Soundness) of FNB Tarpon Springs was conducted by the OCC, the bank's primary regulator, during the second calendar quarter of 2002. The OCC cited several weaknesses and violations. Also during the examination, the Bank's CEO announced his resignation in order to pursue employment at an unrelated financial institution operating outside of any of the Company's banking markets. Because of the weaknesses and violations and the void in leadership caused by the CEO's departure, the OCC found the overall condition of FNB Tarpon Springs to be unsatisfactory. Representatives of the OCC indicated that the OCC may impose a Formal Agreement on FNB Tarpon Springs.

With the exception of the items discussed above, the Company is not aware of any current recommendation by the regulatory authorities which, if they were to be implemented, would have a material effect on the Company's liquidity, capital resources, or results of operations.

The Company cautions readers of this report that such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Although the Company's management believes that their expectations of future performance are based on reasonable assumptions within the bounds of their knowledge of their business and operations, there can be no assurance that actual results will not differ materially from their expectations.

PART II - OTHER INFORMATION

|Item 1. | Legal Proceedings.                                                                                                                                                                                                                                                                                                                                                             
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        | There are no material pending legal proceedings to which the Company or the subsidiary Banks are a party or of which any of their property is the subject.                                                                                                                                                                                                                     
|Item 2. | Changes in Securities.                                                                                                                                                                                                                                                                                                                                                         
|(a)     | On June 24, 2002, one individual exercised 6,000 stock warrants for a total aggregate price of $20,000.                                                                                                                                                                                                                                                                        
|(b)     | None.                                                                                                                                                                                                                                                                                                                                                                          
|Item 3. | Defaults Upon Senior Securities.                                                                                                                                                                                                                                                                                                                                               
|        | None.                                                                                                                                                                                                                                                                                                                                                                          
|Item 4. | Submission of Matters to a Vote of Security Holders.                                                                                                                                                                                                                                                                                                                           
|        | The 2002 Annual Meeting of Shareholders of the Company was held on May 22, 2002. The following table sets forth the name of each individual elected at the 2002 Annual Meeting to serve a three-year term as a Class III director, and the results of voting with respect to each director:                                                                                    
|        | Bobby Y. Franklin
Benjamin E. Walker
Jimmie Ann Ward
Freddie Weston                                                                                                                                                                                                                                                                                                            
|        | No other matters were presented or voted on at the Annual Meeting.
The following persons did not stand for reelection at the 2002 Annual Meeting of Shareholders as their term of office continued after the Annual Meeting: T. Brinson Brock, Sr., Willis R. Collins, Gene Crawford, Benny W. Denham, Lloyd G. Ewing, Grady E. Moore, Ruth W. Raines, Joe Sheppard, Don Crews.
|Item 5. | Other Information.                                                                                                                                                                                                                                                                                                                                                             
|        | None.                                                                                                                                                                                                                                                                                                                                                                          
|Item 6. | Exhibits and Reports on Form 8-K.                                                                                                                                                                                                                                                                                                                                              
|(a)     | Exhibits:
99.1 - Certification Pursuant to 18 U.S.C. Section 1350 As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                        
|(b)     | Reports on Form 8-K.
Registrant filed a report on Form 8-K on June 12, 2002, disclosing the election of Theron G. Reed as President and Chief Executive Officer.                                                                                                                                                                                                               



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 thereunto duly authorized.

|Date: August 12, 2002 | Community National Bancorporation
(Registrant)
By: /S/ Theron G. Reed	Theron G. Reed
President and Chief Executive Officer
|--------------------- | --------------------------------------------------------------------------------------------------------------------------