SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, D.C. 20549
                  ---------------------------
                         FORM 10-QSB

(Mark One)

 X   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
     For the quarterly period ended September 30, 1999.

                              OR

     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934
     For the transition period from               to

                  Commission File No. 33-31013-A

                COMMUNITY NATIONAL BANCORPORATION

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


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

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

                          (912) 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  X            No

      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,  1,534,711  shares
outstanding as of November 12, 1999.


Page 1
______________________________________________________________________

                  PART I - FINANCIAL INFORMATION

    Item 1.  Financial Statements

                     COMMUNITY NATIONAL BANCORPORATION
                             ASHBURN, GEORGIA
                        Consolidated Balance Sheets

                                 ASSETS
                                 ------
                                            September 30,      December 31,
                                                1999              1998
                                             (Unaudited)       (Unaudited)
                                            -------------      ------------
Cash and due from banks                     $  2,382,964      $  3,397,203
Federal funds sold                             2,430,000        15,850,000
                                             -----------       -----------
  Total cash and cash equivalents           $  4,812,964      $ 19,247,203
Securities:
 Available for sale, at fair values            8,688,332         8,036,357
Loans, net                                   104,597,697        88,295,060
Property and equipment, net                    4,156,901         2,406,538
Other assets                                   4,421,469         3,606,774
                                             -----------       -----------
Total Assets                                $126,677,363      $121,591,932
                                             ===========       ===========


                       LIABILITIES AND SHAREHOLDERS' EQUITY
                       ------------------------------------
Liabilities:
 Deposits
  Non-interest bearing deposits             $  5,613,160      $ 10,478,489
  Interest bearing deposits                  106,750,525        97,903,091
                                             -----------       -----------
    Total deposits                          $112,363,685      $108,381,580
Other liabilities                              1,043,345           688,858
                                             -----------       -----------
  Total liabilities                         $113,407,030      $109,070,438
                                             -----------       -----------
Commitments and contingencies

Shareholders' Equity:
 Common stock, no par value, 10,000,000
 shares authorized, 1,534,711 and 1,518,871
 shares issued and outstanding at Sept. 30,
 1999 and December 31, 1998, respectively   $  7,702,091      $  7,649,291
 Retained earnings                             5,731,123         4,829,006
 Unrealized gain (loss) on securities, net      (162,881)           43,197
                                             -----------       -----------
  Total Shareholders' Equity                  13,270,333      $ 12,521,494
                                             -----------       -----------
Total liabilities and shareholders' equity  $126,677,363      $121,591,932
                                             ===========       ===========

         Refer to notes to the consolidated financial statements.

Page 2
__________________________________________________________________________

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

                                                    September 30,
                                                  1999         1998
                                                  ----         ----

Interest income                               $2,804,444    $2,595,091
Interest expense                               1,360,430     1,309,687
                                               ---------     ---------

Net interest income                           $1,444,014    $1,285,404

Provisions for possible loan losses              200,064       200,000
                                               ---------     ---------

Net interest income after provisions
 for possible loan losses                     $1,243,950    $1,085,404
                                               ---------     ---------

Gain on sale of securities                    $     - -     $      622
Service charges on deposit accounts              156,137       124,398
Other income                                      21,729        14,217
                                               ---------     ---------
Total other income                            $  177,866    $  139,237
                                               ---------     ---------

Salaries and benefits                         $  378,951    $  346,248
Advertising and business development              29,122        30,777
Repairs and maintenance                           31,945        28,213
Depreciation                                      49,390        46,800
Legal and professional                            62,509        38,045
Data processing                                   40,591        35,319
Regulatory fees and assessments                   16,101         9,634
Other operating expenses                         152,856       207,403
                                               ---------     ---------
 Total other expenses                         $  761,465    $  742,439
                                               ---------     ---------

Net income before income taxes                $  660,351    $  482,202
Provision for income taxes                       255,800       178,500
                                               ---------     ---------

Net income after taxes                        $  404,551    $  303,702
                                               ---------     ---------
Other comprehensive
 income, net of tax:
  Unrealized holding gains (losses)
   on securities available for sale           $  (54,657)   $   26,234
                                               ---------     ---------

Comprehensive income                          $  349,894    $  329,936
                                               =========     =========

Basic income per share                        $      .27    $      .27
                                               =========     =========

Diluted income per share                      $      .23    $      .25
                                               =========     =========

         Refer to notes to the consolidated financial statements


Page 3
_______________________________________________________________________

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

                                                    September 30,
                                                  1999         1998
                                                  ----         ----

Interest income                               $8,120,714    $7,432,568
Interest expense                               3,924,851     3,617,923
                                               ---------     ---------

Net interest income                           $4,195,863    $3,814,645

Provisions for possible loan losses              660,064       500,000
                                               ---------     ---------

Net interest income after provisions
 for possible loan losses                     $3,535,799    $3,314,645
                                               ---------     ---------

Gain on sale of securities                    $     - -     $    4,350
Service charges on deposit accounts              431,057       354,989
Other income                                     141,091        50,906
                                               ---------     ---------
Total other income                            $  572,148    $  410,245
                                               ---------     ---------

Salaries and benefits                         $1,209,671    $1,059,362
Advertising and business development             105,422        85,465
Repairs and maintenance                           87,395        76,530
Depreciation                                     149,710       140,072
Legal and professional                           175,469       116,895
Data processing                                  117,437       104,798
Regulatory fees and assessments                   49,679        35,280
Other operating expenses                         518,360       563,267
                                               ---------     ---------
 Total other expenses                         $2,413,143    $2,181,669

Net income before taxes                       $1,694,804    $1,543,221
Provision for income taxes                       640,800       693,005
                                               ---------     ---------

Net income after taxes                        $1,054,004    $  850,216
                                               ---------     ---------

Other comprehensive
 income, net of tax:
  Unrealized holding gains (losses)
   on securities available for sale           $ (206,078)   $   31,645
                                               ---------     ---------

Comprehensive income                          $  847,926    $  881,861
                                               =========     =========


Basic income per share                        $      .69    $      .77
                                               =========     =========

Diluted income per share                      $      .59    $      .69
                                               =========     =========


         Refer to notes to the consolidated financial statements.

Page 4
_______________________________________________________________________


                    COMMUNITY NATIONAL BANCORPORATION
                             ASHBURN, GEORGIA
             Unaudited Consolidated Statements of Cash Flows
                       for the three quarters ended



                                                      September 30,
                                                  1999             1998
                                                  ----             ----

Cash flows from operating activities       $  1,161,007       $  1,075,342
                                            -----------        -----------

Cash flows from investing activities:
  Securities, available-for-sale
   Sale of securities                      $       - -        $       - -
   Purchase of securities                    (2,103,411)        (2,501,234)
   Maturity and paydowns                      1,487,921          2,928,019
  (Increase) in loans, net                  (16,962,701)       (13,163,300)
  Purchase of property and equipment         (1,900,073)        (1,042,297)
                                            -----------        -----------

    Net cash used in investing activities  $(19,478,264)      $(13,778,812)
                                            -----------        -----------

Cash flows from financing activities:
  Increase in customer deposits            $  3,982,105       $ 16,360,506
  Sale (purchase) of treasury stock                - -              60,000
  Payment of cash dividends                    (151,887)          (105,425)
  Exercise of stock warrants                     52,800            195,400
                                            -----------        -----------
   Net cash provided
     from financing activities             $  3,883,018       $ 16,510,481
                                            -----------        -----------

Net (decrease) in
 cash and cash equivalents                 $(14,434,239)      $  3,807,011
Cash and cash equivalents,
 beginning of period                         19,247,203          5,020,621
                                            -----------        -----------
Cash and cash equivalents, end of period   $  4,812,964       $  8,827,632
                                            ===========        ===========



         Refer to notes to the consolidated financial statements.

Page 5
__________________________________________________________________________

                     COMMUNITY NATIONAL BANCORPORATION
                              ASHBURN, GEORGIA
                   Notes to financial statements (Unaudited)
                              September 30, 1999



     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  nine-month
     periods  ended September 30, 1999 are not necessarily  indicative
     of  the results that may be expected for the year ending December
     31,  1999.   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, 1998.


     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  (the "Bank").  The Bank was chartered  and  is
     currently  regulated  by  the Office of the  Comptroller  of  the
     Currency;  its deposits are each insured up to $100,000,  subject
     to   aggregation   rules,  by  the  Federal   Deposit   Insurance
     Corporation.   In  an  initial public offering  conducted  during
     1990,  the  Company sold and issued 352,001 shares of its  common
     stock.   Proceeds from the above offering amounted to $3,465,828,
     net  of selling expenses.  The Company then purchased 100 percent
     of  the  Bank's shares by injecting $3.3 million into the  Bank's
     capital  accounts  immediately prior to commencement  of  banking
     operations (August, 1990).

           During  1997, the Company authorized a three-for-one  stock
     split and reduced the par value per share to zero.

           On May 11, 1998, the Company offered for sale a minimum  of
     300,000  shares  and a maximum of 400,000 shares  of  its  common
     stock  at a price of $10.00 per share.  By year-end 1998, 400,000
     shares  of common stock were sold for $3,953,903, net of  selling
     expenses. At September 30, 1999 and December 31, 1998, there were
     1,534,711  and  1,518,871  shares of  common  stock  outstanding,
     respectively.

Page 6
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                     COMMUNITY NATIONAL BANCORPORATION
                              ASHBURN, GEORGIA
                   Notes to financial statements (Unaudited)
                              September 30, 1999



     Note 3 - Recent Accounting Pronouncements

            Beginning  January  1,  1998,  the  Company  adopted   the
     provisions  of  SFAS No. 131, "Disclosures about Segments  of  an
     Enterprise  and  Related  Information," which  is  effective  for
     annual  and  interim periods beginning after December  15,  1997.
     This  Statement establishes standards for the method that  public
     entities  are  to use when reporting information about  operating
     segments  in annual financial statements and requires that  those
     enterprise  reports  be  issued to shareholders,  beginning  with
     annual  financial statements in 1998 and for interim  and  annual
     financial  statements  thereafter.   SFAS  131  also  established
     standards  for  related disclosures about products and  services,
     geographic areas and major customers.

           SFAS  No. 132, "Employers' Disclosures About  Pensions  and
     Other  Postretirement Benefits" revises and standardizes  certain
     disclosures which were required under SFAS Nos. 87, 88  and  106.
     Generally, the new Statement uses a separate but parallel format,
     eliminates  less  useful  information, requires  additional  data
     deemed  useful  by  analysts,  and  allows  some  aggregation  of
     presentation.   This Statement was adopted by the Company  during
     1998.

           SFAS  No.  133, "Accounting for Derivative Instruments  and
     Hedging Activities" was issued in June, 1998 and is effective for
     all  calendar-year  entities beginning in  January,  2000.   This
     Statement  applies  to  all  entities  and  requires   that   all
     derivatives be recognized as assets or liabilities in the balance
     sheet,   at   fair  values.   Gains  and  losses  of   derivative
     instruments  not designated as hedges will be recognized  in  the
     income statement.  The Company has not made an assessment of  the
     expected  impact  that SFAS No. 133 will have  on  its  financial
     statements.



Page 7
______________________________________________________________________

     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,  Community  National  Bank  (the
     "Bank"), on August 6, 1990.  Since then, the Bank has opened  two
     other  branches  - one in Cordele, Georgia and  one  in  Ashburn,
     Georgia.   The Bank is in the process of constructing its  fourth
     branch,  which will be located in Cordele, Georgia.  The  Company
     has  received approval from the Office of the Comptroller of  the
     Currency  to establish a de novo bank, Cumberland National  Bank,
     St.  Marys, Georgia ("Cumberland National").  Cumberland National
     commenced operations on October 1, 1999.

          On August 6, 1990 the subsidiary Bank was capitalized with a
     $3.3  million injection from the Company.  By September 30, 1999,
     the Bank's capital had increased to $9.5 million through retained
     earnings and a $.5 million capital injection in late 1998.   This
     level  of  capitalization,  as measured  by  the  Bank's  primary
     regulator,  the  OCC, is adequate based on the following  capital
     ratios and guidelines.

                                 Bank's       Minimum required
                           September 30, 1999   by regulator
                           ------------------   ------------
     Leverage ratio                7.9%             4.0%
     Risk weighted ratio          10.6%             8.0%


           Total  assets  increased by $5.1 million to $126.7  million
     during  the  nine-month  period ended September  30,  1999.   The
     increase is attributed to a single deposit, the majority of which
     had been withdrawn by October 15, 1999.

           Liquidity  is  the Company's ability to  meet  all  deposit
     withdrawals  immediately,  while also providing  for  the  credit
     needs  of customers.  The September 30, 1999 financial statements
     evidence a satisfactory liquidity position as total cash and cash
     equivalents amounted to $4.8 million, representing 3.8% of  total
     assets.    Investment  securities  amounted  to   $8.7   million,
     representing  6.9%  of total assets; these securities  provide  a
     secondary  source of liquidity since they can be  converted  into
     cash in a timely manner.  The subsidiary Bank is a member of  the
     Federal  Reserve  System  and is 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.  There are  no  trends,  demands,
     commitments, events or uncertainties that will result in  or  are
     reasonably likely to result in the Company's liquidity increasing
     or decreasing in any material way.

Page 8
______________________________________________________________________

     Results of Operations
     ---------------------

           Net  income for the three months ended September  30,  1999
     amounted  to $404,551 or $.23 per diluted share.  For the  three-
     month  period  ended September 30, 1998, net income  amounted  to
     $303,702 or $.25 per diluted share.  Basic earnings per share for
     each of the three-month periods ended September 30, 1999 and 1998
     amounted  to $.27.  The reduction in diluted earnings  per  share
     figures  for the three-month period ended September 30,  1999  as
     compared  to the three-month period ended September 30,  1998  is
     mainly  due  to  the  fact  that the  average  number  of  shares
     outstanding increased by approximately 400,000, and  due  to  the
     granting  of  110,000 stock options.  Net income over  the  above
     periods,  however, has increased by $100,849 due to increases  of
     $158,610  in net interest income, and $38,629 in service charges,
     and decreases of $19,026 in operating expenses and $77,300 in tax
     provisions.

           For  the  nine-month periods ended September 30,  1999  and
     1998,   net   income   amounted  to  $1,054,004   and   $850,216,
     respectively.  Despite the higher income in the first nine-months
     of  1999, earnings per share declined when compared to the  nine-
     month  period  ended  September 30, 1998.  As mentioned  earlier,
     this  is due to the significantly higher average number of shares
     of common stock and stock options outstanding in the 1999 period.
     For  the  nine-month periods ended September 30, 1999  and  1998,
     diluted   earnings  per  share  amounted  to  $.59,   and   $.69,
     respectively;  basic  earnings per share for  the  above  periods
     amounted  to  $.69  and  $.77, respectively.   Below  is  a  more
     detailed discussion concerning results of operations for the nine-
     month periods ended September 30, 1999 and 1998.

     a.   Earning  assets  have  increased  from  $103.9  million   at
          September 30, 1998 to $117.5 million at September 30,  1999.
          As  a consequence, net interest income, which represents the
          difference  between  interest received on  interest  earning
          assets  and  interest paid on interest bearing  liabilities,
          has  increased from $3,814,645 to $4,195,863  for  the  same
          period one year later, representing an increase of $381,218,
          or 10.0%.

     b.   Other  income  increased from $410,245  for  the  nine-month
          period  ended September 30, 1998 to $572,148 for  the  nine-
          month  period ended September 30, 1999.  The above  increase
          of  $161,903 represents a 39.5% 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.

Page 9
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     c.   Other  operating expenses increased from $2,181,669 for  the
          nine-month period ended September 30, 1998 to $2,413,143 for
          the  nine-month period ended September 30, 1999.  The  above
          increase  amounting to $231,474 represents  an  increase  of
          10.6%.   The  primary reasons for the increase are  expenses
          associated   with  the  preparation  for  the   opening   of
          Cumberland  National.  Such expenses include  personnel  and
          professional  costs.  Note, however, that as  a  percent  of
          average  assets, operating expenses declined from 2.89%  for
          the  nine month-period ended September 30, 1998 to 2.59% for
          the same period one year later.

           At  September  30,  1999,  the allowance  for  loan  losses
     amounted to $1,762,223, or 1.66% of gross loans.  At December 31,
     1998,  the  allowance amounted to $1,824,179, or 2.02%  of  gross
     loans.  The primary reasons for the reduction in the reserve  for
     loan losses can be attributed to heavier than normal charge-offs.
     For  the  nine-month period ended September 30, 1999, net charge-
     offs  amounted to approximately $721,957, of which  $453,000  was
     associated   with  a  single  credit  relationship.    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.

           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.


     Year 2000

           A  critical issue affecting companies that rely extensively
     on  electronic data processing systems, such as the Bank, is  the
     Year  2000  issue.   The Year 2000 issue has arisen  due  to  the
     widespread  use of computer programs that rely on two-digit  date
     codes to perform computations or decision making functions.  Many
     of  these  programs  may fail as a result of their  inability  to
     properly  interpret date codes beginning January  1,  2000.   For
     example,  such  programs may misinterpret "00" as the  year  1900
     rather  than  the year 2000.  In addition, some equipment   being
     controlled  by  microprocessor chips may not  deal  appropriately
     with  the  year "00".  This could result in a system  failure  or
     miscalculations  causing  disruptions  of  operations,  including
     among other things, a temporary inability to process transactions
     or engage in similar, normal business activities.

           The Bank primarily uses a third-party vendor for processing
     its  primary banking applications.  During 1997, the Bank  formed

Page 10
______________________________________________________________________

     an internal task force to address the Year 2000 issue, conduct  a
     comprehensive  review of the Bank's systems and ensure  that  the
     Bank takes any necessary measures.  The following items have been
     assessed  as of September 30, 1999:  Computer hardware,  security
     systems,  software  applications, vault, ATM  machine,  telephone
     banking  and teller machines.  All third-party vendors have  been
     contacted  to  provide  assurances  that  their  data  processing
     programs and systems are Year 2000 compliant now or will be  well
     in  advance of the year 2000.  All of these vendors responded  by
     stating that they have obtained third-part reviews and assurances
     that  their products are Year 2000 compliant.  Contingency plans,
     such  as the selection of other vendors, have been formulated  in
     the  event  that  a  vendor is not able to provide  a  Year  2000
     compliant product within the Bank's established timeframes.   The
     Bank  has budgeted $85,000 for expenses associated with Year 2000
     compliance.   Approximately $46,000 of the  budgeted  amount  has
     been  incurred to date.  However, there can be no assurances that
     unforseen  difficulties or costs will not  arise.   In  addition,
     there  can  be  no assurance that systems of other  companies  on
     which the Bank's systems rely, such as the Bank's data processing
     vendor,  will be modified on a timely basis, or that the  failure
     by  another  company  to properly modify  its  systems  will  not
     negatively impact the Bank's systems or operations.

Page 11
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                                  PART II
                             OTHER INFORMATION



Item 1.   Legal Proceedings.
          -----------------

          There  are  no material pending legal proceedings to  which  the
Company  or  the Bank is a party or of which any of their property  is  the
subject.

Item 2.   Changes in Securities.
          ---------------------

          (a)  None.
          (b)  None.

Item 3.   Defaults Upon Senior Securities.
          -------------------------------

          None.

Item 4.   Submission of Matters to a Vote of Security Holders.
          ---------------------------------------------------

          None.

Item 5.   Other Information.
          -----------------

          The  Company is proceeding with its plan to acquire all  of  the
issued  and  outstanding capital stock of Tarpon Financial Corporation  for
the  aggregate  purchase price of $3,720,000 in cash and common  stock.  In
this  connection,  the Company expects to file a Form  S-4/Proxy  with  the
Securities  and Exchange Commission ("SEC") and for the required regulatory
approvals  on  or  before  November 30, 1999. Depending  on  when  SEC  and
regulatory approvals are obtained, it is expected that the merger  will  be
submitted  for  approval  by  Tarpon's shareholders  in  early  2000.  Upon
consummation of the merger, Tarpon's sole subsidiary, First National  Bank,
Tarpon   Springs,  Florida,  will  become  the  Company's   third   banking
subsidiary.

Item 6.   Exhibits and Reports on Form 8-K.
          --------------------------------

          (a)  Exhibits:

               27   Financial Data Schedule

          (b)  Reports on Form 8-K

               The Company filed a report on Form 8-K on October 12, 1999.


                                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.

                           COMMUNITY NATIONAL BANCORPORATION
                           (Registrant)


Date: November 12, 1999.   BY:       /S/ T. Brinson Brock, Sr.
                               --------------------------------------------
                               T. Brinson Brock, Sr.
                               President and Chief Executive Officer
                               Principal Executive, Financial
                               and Accounting Officer

Page 12
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