----

| x | Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|-----------------------------------------------------------------------------------------|

| o | Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|---|------------------------------------------------------------------------------------------|

| 001-33009 |
|-----------|

| Commission File Number |
|------------------------|

| BRITTON & KOONTZ CAPITAL CORPORATION |
|------------------------------------------|

| (Exact name of Registrant as Specified in Its Charter) |
|--------------------------------------------------------|

| Mississippi                                                    | 64-0665423                              |
|----------------------------------------------------------------|-----------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification Number) |

| 500 Main Street, Natchez, Mississippi  39120 |
|--------------------------------------------------------|

| (Address of Principal Executive Offices) (Zip Code) |
|-----------------------------------------------------|

| 601-445-5576 |
|--------------|

| (Registrant’s Telephone Number, Including Area Code) |
|------------------------------------------------------------|

| Large accelerated filer o                                            | Accelerated filer o         |
|----------------------------------------------------------------------|-----------------------------|
| Non-accelerated filer o(Do not check if a smaller reporting company) | Smaller reporting company x |

----

Table of Contents 

B

|  AND SUBSIDIARIES |
|------------------------|

| PART I.         | FINANCIAL INFORMATION                                                                                                |
|-----------------|----------------------------------------------------------------------------------------------------------------------|
|            |                                                                                                                 |
|            |                                                                                                                 |
|            | Item 1.    Financial Statements                                                                  |
|            |                                                                                                                 |
|            | Consolidated Balance Sheets                                                                                          |
|            | Consolidated Statements of Income                                                                                    |
|            | Consolidated Statements of Changes in Stockholders' Equity                                                           |
|            | Consolidated Statements of Cash Flows                                                                                |
|            | Notes to the Consolidated Financial Statements                                                                       |
|            |                                                                                                                 |
|            | Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|            |                                                                                                                 |
|            | Item 3.   Quantitative and Qualitative Disclosures About Market Risk                                  |
|            |                                                                                                                 |
|            | Item 4T. Controls and Procedures                                                                                     |
|            |                                                                                                                 |
|            |                                                                                                                 |
| PART II.        | OTHER INFORMATION                                                                                                    |
|            |                                                                                                                 |
|            | Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds                     |
|            |                                                                                                                 |
|            | Item 4.     Submission of Matters to a Vote of Security Holders                             |
|            |                                                                                                                 |
|            | Item 6.     Exhibits                                                                        |
|            |                                                                                                                 |
|            |                                                                                                                 |
| SIGNATURES      |
|            |                                                                                                                 |
|            |                                                                                                                 |
| CERTIFICATIONS: |

Certification of Chief Executive Officer as required pursuant to section 302 of the Sarbanes Oxley Act of 2002

Certification of Chief Financial Officer as required pursuant to section 302 of the Sarbanes Oxley Act of 2002

Certification of Chief Executive Officer as required pursuant to section 906 of the Sarbanes Oxley Act of 2002

Certification of Chief Financial Officer as required pursuant to section 906 of the Sarbanes Oxley Act of 2002

----

Table of Contents 

P

It

----

Table of Contents 

| BRITTON & KOONTZ CAPITAL CORPORATION AND SUBSIDIARIES                |   |
|-------------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEETS                                                   |   |
| AS OF                                                                         |   |
|                                                                          |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |
| A S S E T S                                                                   |   |
|                                                                          |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |
|                                                                          |   | June 30, |   |   | December 31, |   |
|  ASSETS:                                                                 |   | 2009 |   |   | 2008 |   |
|  Cash and due from banks:                                                |   |   |   |   |   |   |
|  Non-interest bearing                                                    |   | $ | 4,445,835 |   |   | $ | 6,752,462 |   |
|  Interest bearing                                                        |   |   | 1,166,905 |   |   |   | 199,081 |   |
|         Total cash and due from banks |   |   | 5,612,740 |   |   |   | 6,951,543 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|  Federal funds sold                                                      |   |   | 2,271 |   |   |   | - |   |
|  Investment Securities:                                                  |   |   |   |   |   |   |   |   |
|  Available-for-sale (amortized cost, in 2009 and 2008,                   |   |   |   |   |   |   |   |   |
|      of $98,434,796 and $108,548,988, respectively)  |   |   | 101,837,262 |   |   |   | 111,895,476 |   |
|  Held-to-maturity (market value, in 2009 and 2008,                       |   |   |   |   |   |   |   |   |
|      of $54,279,205 and $54,843,091, respectively)   |   |   | 54,335,319 |   |   |   | 54,815,013 |   |
|  Equity securities                                                       |   |   | 3,745,400 |   |   |   | 4,009,938 |   |
|  Loans, less allowance for loan losses of $2,832,499                     |   |   |   |   |   |   |   |   |
|      in 2009 and $2,397,802 in 2008                  |   |   | 221,933,777 |   |   |   | 223,113,495 |   |
|  Bank premises and equipment, net                                        |   |   | 7,647,347 |   |   |   | 6,922,835 |   |
|  Other real estate, net of reserves of $368,410 in 2009                  |   |   |   |   |   |   |   |   |
|      and $198,390 in 2008                            |   |   | 1,397,190 |   |   |   | 919,204 |   |
|  Accrued interest receivable                                             |   |   | 1,975,664 |   |   |   | 2,080,693 |   |
|  Cash surrender value of life insurance                                  |   |   | 1,079,941 |   |   |   | 1,055,627 |   |
|  Core Deposits, net                                                      |   |   | 504,234 |   |   |   | 558,042 |   |
|  Other assets                                                            |   |   | 1,181,807 |   |   |   | 754,959 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|  TOTAL ASSETS                                                            |   | $ | 401,252,952 |   |   | $ | 413,076,825 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                          |   |
|                                                                          |   |   |   |   |   |   |   |   |
|                                                                          |   | June 30, |   |   | December 31, |   |
|  LIABILITIES:                                                            |   |   | 2009 |   |   |   | 2008 |   |
|  Deposits                                                                |   |   |   |   |   |   |   |   |
|  Non-interest bearing                                                    |   | $ | 44,759,527 |   |   | $ | 51,119,827 |   |
|  Interest bearing                                                        |   |   | 207,579,014 |   |   |   | 206,094,593 |   |
|         Total deposits                |   |   | 252,338,541 |   |   |   | 257,214,420 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|  Federal Home Loan Bank advances                                         |   |   | 48,116,826 |   |   |   | 54,939,931 |   |
|  Securities sold under repurchase agreements                             |   |   | 52,091,926 |   |   |   | 51,633,835 |   |
|  Accrued interest payable                                                |   |   | 1,045,067 |   |   |   | 1,167,525 |   |
|  Advances from borrowers for taxes and insurance                         |   |   | 187,914 |   |   |   | 313,810 |   |
|  Accrued taxes and other liabilities                                     |   |   | 2,130,676 |   |   |   | 3,111,235 |   |
|  Junior subordinated debentures                                          |   |   | 5,155,000 |   |   |   | 5,155,000 |   |
|         Total liabilities             |   |   | 361,065,950 |   |   |   | 373,535,756 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|                                                                          |   |   |   |   |   |   |   |   |
|  STOCKHOLDERS' EQUITY:                                                   |   |   |   |   |   |   |   |   |
|  Common stock - $2.50 par value per share;                               |   |   |   |   |   |   |   |   |
|  12,000,000 shares authorized; 2,140,966 and 2,132,466 issued            |   |   |   |   |   |   |   |   |
|  and 2,126,466 and 2,117,966 outstanding, as of June 30, 2009,           |   |   |   |   |   |   |   |   |
|  and December 31, 2008, respectively                                     |   |   | 5,352,415 |   |   |   | 5,331,165 |   |
|  Additional paid-in capital                                              |   |   | 7,389,953 |   |   |   | 7,319,282 |   |
|  Retained earnings                                                       |   |   | 25,568,663 |   |   |   | 25,049,749 |   |
|  Accumulated other comprehensive income                                  |   |   | 2,133,346 |   |   |   | 2,098,248 |   |
|                                                                          |   |   | 40,444,377 |   |   |   | 39,798,444 |   |
|  Cost of 14,500 shares of common stock held by the company               |   |   | (257,375 | ) |   |   | (257,375 | ) |
|         Total stockholders' equity    |   |   | 40,187,002 |   |   |   | 39,541,069 |   |
|                                                                          |   |   |   |   |   |   |   |   |
|  TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                              |   | $ | 401,252,952 |   |   | $ | 413,076,825 |   |

----

Table of Contents 

| BRITTON & KOONTZ CAPITAL CORPORATION AND SUBSIDIARIES |   |               |      |   |
|----------------------------------------------------------------|--------|--------------------|-----------|--------|
| CONSOLIDATED STATEMENTS OF INCOME               |   |               |      |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |
|                                                           |   | Three Months Ended |      |   | Six Months Ended |   |
|                                                           |   | June 30,           |      |   | June 30, |   |
|                                                           |   | 2009               |      |   | 2008 |   |   | 2009 |   |   | 2008 |   |
|  INTEREST INCOME:                                         |   |               |      |   |   |   |   |   |   |   |   |   |
|  Interest and fees on loans                               |   | $                  | 3,352,007 |   |   | $ | 3,978,285 |   |   | $ | 6,706,980 |   |   | $ | 8,266,035 |   |
|  Interest on investment securities:                       |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Taxable interest income          |   |               | 1,538,807 |   |   |   | 1,264,720 |   |   |   | 3,224,154 |   |   |   | 2,393,908 |   |
|      Exempt from federal taxes        |   |               | 442,956   |   |   |   | 411,760 |   |   |   | 868,050 |   |   |   | 828,912 |   |
|  Interest on federal funds sold                           |   |               | 31        |   |   |   | 896 |   |   |   | 120 |   |   |   | 3,095 |   |
|  Total interest income                                    |   |               | 5,333,801 |   |   |   | 5,655,661 |   |   |   | 10,799,304 |   |   |   | 11,491,950 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  INTEREST EXPENSE:                                        |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Interest on deposits                                     |   |               | 1,001,430 |   |   |   | 1,359,243 |   |   |   | 2,067,609 |   |   |   | 3,001,879 |   |
|  Interest on Federal Home Loan Bank advances              |   |               | 35,197    |   |   |   | 281,736 |   |   |   | 146,315 |   |   |   | 495,699 |   |
|  Interest on trust preferred securities                   |   |               | 54,847    |   |   |   | 72,873 |   |   |   | 112,343 |   |   |   | 168,873 |   |
|  Interest on securities sold under repurchase agreements  |   |               | 525,117   |   |   |   | 530,670 |   |   |   | 1,041,330 |   |   |   | 1,083,825 |   |
|  Total interest expense                                   |   |               | 1,616,591 |   |   |   | 2,244,522 |   |   |   | 3,367,597 |   |   |   | 4,750,276 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  NET INTEREST INCOME                                      |   |               | 3,717,210 |   |   |   | 3,411,139 |   |   |   | 7,431,707 |   |   |   | 6,741,674 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Provision for loan losses                                |   |               | 250,000   |   |   |   | 120,000 |   |   |   | 950,000 |   |   |   | 240,000 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  NET INTEREST INCOME AFTER PROVISION                      |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  FOR LOAN LOSSES                                          |   |               | 3,467,210 |   |   |   | 3,291,139 |   |   |   | 6,481,707 |   |   |   | 6,501,674 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  OTHER INCOME:                                            |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Service charges on deposit accounts                      |   |               | 418,969   |   |   |   | 435,796 |   |   |   | 826,409 |   |   |   | 836,912 |   |
|  Income from fiduciary activities                         |   |               | 300       |   |   |   | 999 |   |   |   | 911 |   |   |   | 1,998 |   |
|  Income from networking arrangements                      |   |               | 22,743    |   |   |   | 38,191 |   |   |   | 44,954 |   |   |   | 67,207 |   |
|  Gain/(loss) on sale of mortgage loans                    |   |               | 64,097    |   |   |   | 62,563 |   |   |   | 110,197 |   |   |   | 121,077 |   |
|  Gain/(loss) on sale/matured securities                   |   |               | 17,785    |   |   |   | - |   |   |   | 17,785 |   |   |   | 148,116 |   |
|  Other                                                    |   |               | 112,051   |   |   |   | 116,186 |   |   |   | 254,540 |   |   |   | 261,860 |   |
|  Total other income                                       |   |               | 635,945   |   |   |   | 653,735 |   |   |   | 1,254,796 |   |   |   | 1,437,170 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  OTHER EXPENSES:                                          |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Salaries                                                 |   |               | 1,320,155 |   |   |   | 1,363,781 |   |   |   | 2,688,439 |   |   |   | 2,790,364 |   |
|  Employee benefits                                        |   |               | 191,961   |   |   |   | 184,611 |   |   |   | 382,528 |   |   |   | 369,463 |   |
|  Director fees                                            |   |               | 37,295    |   |   |   | 37,450 |   |   |   | 73,545 |   |   |   | 83,600 |   |
|  Net occupancy expense                                    |   |               | 237,659   |   |   |   | 238,532 |   |   |   | 459,771 |   |   |   | 467,063 |   |
|  Equipment expenses                                       |   |               | 284,696   |   |   |   | 264,095 |   |   |   | 581,541 |   |   |   | 565,238 |   |
|  FDIC assessment                                          |   |               | 280,735   |   |   |   | 7,068 |   |   |   | 396,090 |   |   |   | 14,491 |   |
|  Advertising                                              |   |               | 74,257    |   |   |   | 46,164 |   |   |   | 130,815 |   |   |   | 100,316 |   |
|  Stationery and supplies                                  |   |               | 46,131    |   |   |   | 43,343 |   |   |   | 84,785 |   |   |   | 87,724 |   |
|  Audit expense                                            |   |               | 60,305    |   |   |   | 58,180 |   |   |   | 120,555 |   |   |   | 113,923 |   |
|  Other real estate expense (includes gains on sale)       |   |               | 138,675   |   |   |   | 47,669 |   |   |   | 197,418 |   |   |   | 59,486 |   |
|  Amortization of deposit premium                          |   |               | 26,904    |   |   |   | 26,904 |   |   |   | 53,808 |   |   |   | 53,808 |   |
|  Other                                                    |   |               | 462,333   |   |   |   | 488,770 |   |   |   | 941,398 |   |   |   | 962,683 |   |
|  Total other expenses                                     |   |               | 3,161,106 |   |   |   | 2,806,567 |   |   |   | 6,110,693 |   |   |   | 5,668,159 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  INCOME BEFORE INCOME TAX EXPENSE                         |   |               | 942,049   |   |   |   | 1,138,307 |   |   |   | 1,625,810 |   |   |   | 2,270,685 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Income tax expense                                       |   |               | 184,261   |   |   |   | 290,084 |   |   |   | 268,006 |   |   |   | 576,354 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  NET INCOME                                               |   | $                  | 757,788   |   |   | $ | 848,223 |   |   | $ | 1,357,804 |   |   | $ | 1,694,331 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  EARNINGS PER SHARE DATA:                                 |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Basic earnings per share                                 |   | $                  | 0.36      |   |   | $ | 0.40 |   |   | $ | 0.64 |   |   | $ | 0.80 |   |
|  Basic weighted shares outstanding                        |   |               | 2,126,466 |   |   |   | 2,117,966 |   |   |   | 2,124,259 |   |   |   | 2,117,966 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Diluted earnings per share                               |   | $                  | 0.36      |   |   | $ | 0.40 |   |   | $ | 0.64 |   |   | $ | 0.80 |   |
|  Diluted weighted shares outstanding                      |   |               | 2,127,144 |   |   |   | 2,117,966 |   |   |   | 2,124,761 |   |   |   | 2,118,247 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Cash dividends per share                                 |   | $                  | 0.18      |   |   | $ | 0.18 |   |   | $ | 0.36 |   |   | $ | 0.36 |   |
|                                                           |   |               |      |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

Table of Contents 

| BRITTON & KOONTZ CAPITAL CORPORATION AND SUBSIDIARIES                                           |   |
|----------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY                                               |   |
| FOR THE SIX MONTHS ENDED JUNE 30, 2009 AND 2008                                                          |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   | Accumulated |   |   |   |   |   |   |   |
|                                                                                                     |   | Common Stock |   |   | Additional |   |   |   |   |   | Other |   |   |   |   |   | Total |   |
|                                                                                                     |   |   |   |   |   |   |   | Paid-in |   |   | Retained |   |   | Comprehensive |   |   | Treasury |   |   | Stockholders' |   |
|                                                                                                     |   | Shares |   |   | Amount |   |   | Capital |   |   | Earnings |   |   | Income |   |   | Stock |   |   | Equity |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance at December 31, 2007                                                                       |   |   | 2,117,966 |   |   | $ | 5,331,165 |   |   | $ | 7,305,970 |   |   | $ | 23,071,921 |   |   | $ | 349,184 |   |   | $ | (257,375 | ) |   | $ | 35,800,865 |   |
|  Comprehensive Income:                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Net income                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,694,331 |   |   |   |   |   |   |   |   |   |   |   | 1,694,331 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|          Other comprehensive                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|              income (net of tax):            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|          Net change in unrealized gain/(loss)                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|             on securities available for sale, net |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|             of taxes for $(417,086)               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (701,107 | ) |   |   |   |   |   |   | (701,107 | ) |
| Other Comprehensive gains from                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|            derivatives, net of reclassification        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|            adjustment of $(69,545)                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (116,903 | ) |   |   |   |   |   |   | (116,903 | ) |
| Total Comprehensive income                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 876,321 |   |
| Cash Dividend paid $0.36 per share                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (762,468 | ) |   |   |   |   |   |   |   |   |   |   | (762,468 | ) |
| Fair Value unexercised stock options                                                                     |   |   |   |   |   |   |   |   |   |   | 6,656 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 6,656 |   |
|  Balance at June 30, 2008                                                                           |   |   | 2,117,966 |   |   | $ | 5,331,165 |   |   | $ | 7,312,626 |   |   | $ | 24,003,785 |   |   | $ | (468,826 | ) |   | $ | (257,375 | ) |   | $ | 35,921,375 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Balance at December 31, 2008                                                                       |   |   | 2,117,966 |   |   | $ | 5,331,165 |   |   | $ | 7,319,282 |   |   | $ | 25,049,749 |   |   | $ | 2,098,248 |   |   | $ | (257,375 | ) |   | $ | 39,541,069 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Comprehensive Income:                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|      Net income                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,357,804 |   |   |   |   |   |   |   |   |   |   |   | 1,357,804 |   |
|                                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|          Other comprehensive                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|              income (net of tax):            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|          Net change in unrealized gain/(loss)                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|             on securities available for sale, net |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|             of taxes of $20,880                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 35,098 |   |   |   |   |   |   |   | 35,098 |   |
|  Total Comprehensive income                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 1,392,902 |   |
|  Cash Dividend paid $0.36 per share                                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (765,528 | ) |   |   |   |   |   |   |   |   |   |   | (765,528 | ) |
|  Common stock issued                                                                                |   |   | 8,500 |   |   |   | 21,250 |   |   |   | 65,450 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 86,700 |   |
|  Unearned compensation                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (73,362 | ) |   |   |   |   |   |   |   |   |   |   | (73,362 | ) |
|  Fair Value unexercised stock options                                                               |   |   |   |   |   |   |   |   |   |   | 5,221 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | 5,221 |   |
|  Balance at June 30, 2009                                                                           |   |   | 2,126,466 |   |   | $ | 5,352,415 |   |   | $ | 7,389,953 |   |   | $ | 25,568,663 |   |   | $ | 2,133,346 |   |   | $ | (257,375 | ) |   | $ | 40,187,002 |   |

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| BRITTON & KOONTZ CAPITAL CORPORATION AND SUBSIDIARIES                                                                             |   |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                                                                                                      |   |
| FOR THE SIX MONTHS ENDED JUNE 30,                                                                                                          |   |
|                                                                                                                                       |   |   |   |   |   |   |
|                                                                                                                                       |   | 2009 |   |   | 2008 |   |
|  CASH FLOWS FROM OPERATING ACTIVITIES                                                                                                 |   |   |   |   |   |   |
|  Net income                                                                                                                           |   | $ | 1,357,804 |   |   | $ | 1,694,331 |   |
|  Adjustments to reconcile net income to net cash                                                                                      |   |   |   |   |   |   |   |   |
|  provided by (used in) operating activities:                                                                                          |   |   |   |   |   |   |   |   |
|              Deferred income taxes                                             |   |   | (264,194 | ) |   |   | (144,589 | ) |
|              Provision for loan losses                                         |   |   | 950,000 |   |   |   | 240,000 |   |
|              Provision for losses on foreclosed real estate                    |   |   | 170,020 |   |   |   | 70,020 |   |
|              Provision for depreciation                                        |   |   | 370,038 |   |   |   | 383,892 |   |
|              Stock dividends received                                          |   |   | (4,900 | ) |   |   | (36,400 | ) |
|              (Gain)/loss on sale of other real estate                          |   |   | 6,411 |   |   |   | (32,694 | ) |
|              (Gain)/loss on sale of mortgage loans                             |   |   | (110,197 | ) |   |   | (121,077 | ) |
|              (Gain)/loss on sale of investment securities                      |   |   | (17,785 | ) |   |   | (148,116 | ) |
|              (Gain)/loss on sale of other securities                                |   |   | (1,262 | ) |   |   | - |   |
|             Net amortization (accretion) of securities                              |   |   | (9,137 | ) |   |   | (46,264 | ) |
|             Amortization of deposit premium                                         |   |   | 53,808 |   |   |   | 53,808 |   |
|             Writedown of other real estate                                          |   |   | 83,435 |   |   |   | - |   |
|             Unearned compensation                                                   |   |   | (73,362 | ) |   |   | - |   |
|             Proceeds from sales, maturities and paydowns of trading securities |   |   | - |   |   |   | 19,349,806  |   |
|  Net change in:                                                                                                                       |   |   |   |   |   |   |   |   |
|             Accrued interest receivable                                             |   |   | 105,029 |   |   |   | 180,903 |   |
|             Cash surrender value                                                    |   |   | (24,314 | ) |   |   | (23,162 | ) |
|             Other assets                                                            |   |   | (426,844 | ) |   |   | 354,609 |   |
|             Accrued interest payable                                                |   |   | (122,458 | ) |   |   | (436,154 | ) |
|             Accrued taxes and other liabilities                                     |   |   | (737,245 | ) |   |   | (639,172 | ) |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| Net cash provided by (used in) operating activities                                                                                        |   |   | 1,304,847 |   |   |   | 20,699,741 |   |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
|  CASH FLOWS FROM INVESTING ACTIVITIES                                                                                                 |   |   |   |   |   |   |   |   |
|      (Increase)/decrease in federal funds sold                                                                         |   |   | (2,271 | ) |   |   | 245,192 |   |
|      Proceeds from sales, maturities and paydowns of securities:                                                       |   |   |   |   |   |   |   |   |
|  Available-for-sale                                                                                                                   |   |   | 17,858,375 |   |   |   | 5,956,954 |   |
|  Held-to-maturity                                                                                                                     |   |   | 4,626,570 |   |   |   | 1,604,646 |   |
|      Redemption of FHLB stock                                                                                          |   |   | 270,700 |   |   |   | - |   |
|      Purchase of FHLB stock                                                                                            |   |   | - |   |   |   | (1,304,500 | ) |
|      Purchase of securities:                                                                                           |   |   |   |   |   |   |   |   |
|  Available-for-sale                                                                                                                   |   |   | (7,732,408 | ) |   |   | (29,604,745 | ) |
|  Held-to-maturity                                                                                                                     |   |   | (4,131,731 | ) |   |   | (15,651,563 | ) |
|      (Increase)/decrease in loans                                                                                      |   |   | (407,047 | ) |   |   | (7,199,866 | ) |
|      Proceeds from sale and transfers of other real estate                                                             |   |   | 9,109 |   |   |   | 511,808 |   |
|      Purchase of premises and equipment                                                                                |   |   | (1,094,550 | ) |   |   | (61,936 | ) |
|                                                                                                                                       |   |   |   |   |   |   |   |   |
| Net cash provided by (used in) investing activities                                                                                        |   |   | 9,396,747 |   |   |   | (45,504,010 | ) |
|                                                                                                                                       |   |   |   |   |   |   |   |   |

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| BRITTON & KOONTZ CAPITAL CORPORATION AND SUBSIDIARIES |   |
|----------------------------------------------------------------|--------|
| CONSOLIDATED STATEMENTS OF CASH FLOWS                          |   |
| FOR THE SIX MONTHS ENDED JUNE 30,                              |

| (Continued)                                                                     |   |
|---------------------------------------------------------------------------------|--------|
|                                                                            |   |   |   |   |   |   |
|                                                                            |   | 2009 |   |   | 2008 |   |
|  CASH FLOWS FROM FINANCING ACTIVITIES                                      |   |   |   |   |   |   |
|        Increase /(decrease) in customer deposits  |   |   | (4,964,633 | ) |   |   | 1,123,734 |   |
|        Increase /(decrease) in brokered deposits       |   |   | 88,752 |   |   |   | (5,820,159 | ) |
|        Increase /(decrease) in securities sold under   |   |   |   |   |   |   |   |   |
|  repurchase agreements                                                     |   |   | 458,091 |   |   |   | 3,288,806 |   |
|        Increase /(decrease) in FHLB advances           |   |   | (6,823,105 | ) |   |   | 25,883,050 |   |
|        Increase /(decrease) in advances from borrowers |   |   |   |   |   |   |   |   |
|  for taxes and insurance                                                   |   |   | (125,896 | ) |   |   | (134,516 | ) |
|        Cash dividends paid                        |   |   | (765,528 | ) |   |   | (762,468 | ) |
|        Common stock issued                        |   |   | 86,700 |   |   |   | - |   |
|        Fair value of unexercised stock options    |   |   | 5,221 |   |   |   | 6,656 |   |
|                                                                            |   |   |   |   |   |   |   |   |
|   Net cash provided by (used in) financing activities                      |   |   | (12,040,398 | ) |   |   | 23,585,103 |   |
|                                                                            |   |   |   |   |   |   |   |   |
|  NET INCREASE/(DECREASE) IN CASH AND DUE FROM BANKS                        |   |   | (1,338,804 | ) |   |   | (1,219,166 | ) |
|                                                                            |   |   |   |   |   |   |   |   |
|  CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD                            |   |   | 6,951,543 |   |   |   | 8,732,307 |   |
|                                                                            |   |   |   |   |   |   |   |   |
|  CASH AND DUE FROM BANKS AT END OF PERIOD                                  |   | $ | 5,612,740 |   |   | $ | 7,513,141 |   |
|                                                                            |   |   |   |   |   |   |   |   |
|                                                                            |   |   |   |   |   |   |   |   |
|  SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                   |   |   |   |   |   |   |   |   |
|                                                                            |   |   |   |   |   |   |   |   |
|    Cash paid during the period for interest                           |   | $ | 3,490,055 |   |   | $ | 5,186,431 |   |
|    Cash paid during the period for income taxes                       |   | $ | 1,279,874 |   |   | $ | 871,438 |   |
|                                                                            |   |   |   |   |   |   |   |   |
|  SCHEDULE OF NONCASH INVESTING AND                                         |   |   |   |   |   |   |   |   |
|  FINANCING ACTIVITIES:                                                     |   |   |   |   |   |   |   |   |
|                                                                            |   |   |   |   |   |   |   |   |
|    Change in unrealized gains (losses)                                |   |   |   |   |   |   |   |   |
|   on securities available for sale                                    |   | $ | 55,978 |   |   | $ | (1,118,193 | ) |
|                                                                            |   |   |   |   |   |   |   |   |
|    Change in the deferred tax effect in unrealized                    |   |   |   |   |   |   |   |   |
|   gains (losses) on securities available for sale                     |   | $ | 20,880 |   |   | $ | (417,086 | ) |
|                                                                            |   |   |   |   |   |   |   |   |
|    Change in unrealized gains (losses) on derivative                  |   | $ | - |   |   | $ | (186,448 | ) |
|                                                                            |   |   |   |   |   |   |   |   |
|    Change in the deferred tax effect in                               |   |   |   |   |   |   |   |   |
|  unrealized gains (losses) on derivative                                   |   | $ | - |   |   | $ | (69,545 | ) |
|                                                                            |   |   |   |   |   |   |   |   |
|                                                                            |   |   |   |   |   |   |   |   |

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B

| JUNE 30, 2009 AND DECEMBER 31, 2008 |
|-------------------------------------|

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|                                        |   | For the three months endedJune 30, |      |
|---------------------------------------------|--------|------------------------------------|-----------|
|                                        |   | 2009                               |      |   | 2008 |   |
| Basic weighted average shares outstanding   |   |                               | 2,126,466 |   |   |   | 2,117,966 |   |
| Dilutive effect of granted options          |   |                               | 678       |   |   |   | 0 |   |
| Diluted weighted average shares outstanding |   |                               | 2,127,144 |   |   |   | 2,117,966 |   |
| Net income                                  |   | $                                  | 757,788   |   |   | $ | 848,223 |   |
| Net income per share-basic                  |   | $                                  | 0.36      |   |   | $ | 0.40 |   |
| Net income per share-diluted                |   | $                                  | 0.36      |   |   | $ | 0.40 |   |
|                                        |   |                               |      |   |   |   |   |   |

|                                        |   | For the six months endedJune 30, |      |
|---------------------------------------------|--------|----------------------------------|-----------|
|                                        |   | 2009                             |      |   | 2008 |   |
| Basic weighted average shares outstanding   |   |                             | 2,124,259 |   |   |   | 2,117,966 |   |
| Dilutive effect of granted options          |   |                             | 502       |   |   |   | 281 |   |
| Diluted weighted average shares outstanding |   |                             | 2,124,761 |   |   |   | 2,118,247 |   |
| Net income                                  |   | $                                | 1,357,804 |   |   | $ | 1,694,331 |   |
| Net income per share-basic                  |   | $                                | 0.64      |   |   | $ | 0.80 |   |
| Net income per share-diluted                |   | $                                | 0.64      |   |   | $ | 0.80 |   |

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|                                     |   | June 30, 2009 |    |   | December 31, 2008      |   |
|------------------------------------------|--------|---------------|---------|--------|------------------------|--------|
|                                     |   | Carrying      |    |   | Fair                   |   |   | Carrying |   |   | Fair |   |
|                                     |   | Amount        |    |   | Value                  |   |   | Amount |   |   | Value |   |
|                                     |   |          |    |   | (dollars in Thousands) |   |   |   |   |
| Financial Assets:                        |   |          |    |   |                   |   |   |   |   |   |   |   |
| Cash and due from banks                  |   | $             | 5,613   |   |                   | $      | 5,613 |   |   | $ | 6,951 |   |   | $ | 6,951 |   |
| Investment securities:                   |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|    Held-to-maturity       |   |          | 54,335  |   |                   |   | 54,279 |   |   |   | 54,815 |   |   |   | 54,843 |   |
|    Available-for-sale     |   |          | 101,837 |   |                   |   | 101,837 |   |   |   | 111,895 |   |   |   | 111,895 |   |
|    Equity securities      |   |          | 3,745   |   |                   |   | 3,745 |   |   |   | 4,010 |   |   |   | 4,010 |   |
| Cash surrender value of life insurance   |   |          | 1,080   |   |                   |   | 1,080 |   |   |   | 1,056 |   |   |   | 1,056 |   |
| Loans, net                               |   |          | 221,934 |   |                   |   | 224,111 |   |   |   | 223,114 |   |   |   | 224,428 |   |
|                                     |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Financial Liabilities:                   |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                 |   |          | 252,339 |   |                   |   | 253,167 |   |   |   | 257,214 |   |   |   | 258,320 |   |
| Short-term borrowings                    |   |          | 44,117  |   |                   |   | 44,108 |   |   |   | 54,121 |   |   |   | 54,107 |   |
| Long-term borrowings                     |   |          | 4,000   |   |                   |   | 4,017 |   |   |   | 819 |   |   |   | 825 |   |
| Securities sold under                    |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|    repurchase agreements: |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Retail                                   |   |          | 12,092  |   |                   |   | 12,089 |   |   |   | 11,634 |   |   |   | 11,638 |   |
| Structured                               |   |          | 40,000  |   |                   |   | 43,645 |   |   |   | 40,000 |   |   |   | 44,185 |   |
| Junior subordinated debentures           |   |          | 5,155   |   |                   |   | 5,155 |   |   |   | 5,155 |   |   |   | 5,155 |   |
|                                     |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
|                                     |   | FaceAmount    |    |   | Fair Value        |   |   | FaceAmount |   |   | Fair Value |   |
| Other:                                   |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |
| Commitments to extend credit             |   | $             | 62,321  |   |                   | $      | 62,321 |   |   | $ | 52,133 |   |   | $ | 52,133 |   |
| Standby letters of credit                |   |          | 3,774   |   |                   |   | 3,774 |   |   |   | 3,575 |   |   |   | 3,575 |   |
|                                     |   |          |    |   |                   |   |   |   |   |   |   |   |   |   |   |   |

|  Fair Value Measurements at June 30, 2009:    Description | Fair Value Measurements at June 30, 2009 | Quoted Prices in Active Markets for Identical Assets(Level 1) |   Significant Other Observable Inputs(Level 2) |    Significant Unobservable Inputs(Level 3) |
|------------------------------------------------------------------------------------|------------------------------------------|---------------------------------------------------------------|----------------------------------------------------------|------------------------------------------------------------|
|                                                                               |                                     |                                                          |                                                     |                                                       |
|  Securities available-for-sale                                                | $                                        | 101,837,262                                                   |                                                     | $                                                          | 101,837,262 |   |

|         Level 1 includes the most reliable sources, and includes quoted prices in active markets.  Level 2 includes observable inputs.  Observable inputsare defined in Statement of Financial Accounting Standards No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities,” to include “inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates)” as well as “inputs that are derived principally from orcorroborated by observable market data by correlation or other means (market-corroborated inputs).”  Level 3 includes unobservable inputs and should be used only when observable inputs are unavailable.  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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It

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|                                                                                |   | 06/30/09 |        |   | 12/31/08 |   |
|-------------------------------------------------------------------------------------|--------|----------|-------------|--------|----------|--------|
| Mortgage-Backed Securities                                                          |   | $        | 111,526,401 |   |     | $      | 123,834,755 |   |
| Obligations of State and                                                            |   |     |        |   |     |   |   |   |
| Political Subdivisions                                                              |   |     | 41,243,714  |   |     |   | 39,529,246 |   |
|              Total |   | $        | 152,770,115 |   |     | $      | 163,364,001 |   |

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|                                     |   | 06/30/09 |        |   | 12/31/08 |   |
|------------------------------------------|--------|----------|-------------|--------|----------|--------|
| Commercial, financial & agricultural |   | $        | 25,559,000  |   |     | $      | 25,128,000 |   |
| Real estate-construction                 |   |     | 28,808,000  |   |     |   | 30,910,000 |   |
| Real estate-1-4 family residential       |   |     | 56,567,000  |   |     |   | 65,312,000 |   |
| Real estate-other                        |   |     | 108,146,000 |   |     |   | 97,952,000 |   |
| Installment                              |   |     | 5,393,000   |   |     |   | 6,038,000 |   |
| Other                                    |   |     | 293,000     |   |     |   | 171,000 |   |
| Total loans                              |   | $        | 224,766,000 |   |     | $      | 225,511,000 |   |

|                                                                                        |   | 06/30/09               |   |   | 12/31/08 |   |
|---------------------------------------------------------------------------------------------|--------|------------------------|--------|--------|----------|--------|
|                                                                                        |   | (dollars in thousands) |   |
| Non-accrual loans by type:                                                                  |   |                   |   |   |     |   |
| Real estate                                                                                 |   | $                      | 5,458  |   |     | $      | 3,364 |   |
| Installment                                                                                 |   |                   | 75     |   |     |   | 86 |   |
| Commercial and all other loans                                                              |   |                   | 72     |   |     |   | 118 |   |
| Total non-accrual loans                                                                     |   |                   | 5,605  |   |     |   | 3,568 |   |
| Loans past due 90 days or more                                                              |   |                   | 1,822  |   |     |   | 518 |   |
| Total nonperforming loans                                                                   |   |                   | 7,427  |   |     |   | 4,086 |   |
| Other real estate owned (net)                                                               |   |                   | 1,397  |   |     |   | 919 |   |
| Total nonperforming assets                                                                  |   | $                      | 8,824  |   |     | $      | 5,005 |   |
| Nonperforming loans as a percent of loans, net of unearned interest and loans held for sale |   |                   | 3.30   | %      |     |   | 1.81 | % |

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|                                                                                                |   | 06/30/09               |   |   | 06/30/08 |   |
|-----------------------------------------------------------------------------------------------------|--------|------------------------|--------|--------|----------|--------|
|                                                                                                |   | (dollars in thousands) |   |
| Balance at beginning of period                                                                      |   | $                      | 2,398  |   |     | $      | 2,431 |   |
| Charge-offs:                                                                                        |   |                   |   |   |     |   |   |   |
| Real Estate                                                                                         |   |                   | (441   | )      |     |   | (317 | ) |
| Commercial                                                                                          |   |                   | (98    | )      |     |   | (65 | ) |
| Installment and other                                                                               |   |                   | (17    | )      |     |   | (32 | ) |
| Recoveries:                                                                                         |   |                   |   |   |     |   |   |   |
| Real Estate                                                                                         |   |                   | 19     |   |     |   | 17 |   |
| Commercial                                                                                          |   |                   | 17     |   |     |   | 147 |   |
| Installment and other                                                                               |   |                   | 5      |   |     |   | 48 |   |
| Net (charge-offs)/recoveries                                                                        |   |                   | (515   | )      |     |   | (202 | ) |
| Provision charged to operations                                                                     |   |                   | 950    |   |     |   | 240 |   |
| Balance at end of period                                                                            |   | $                      | 2,833  |   |     | $      | 2,469 |   |
| Allowance for loan losses as a percent of loans, net of unearned interest & loans held for sale |   |                   | 1.26   | %      |     |   | 1.07 | % |
| Net charge-offs as a percent of average loans (year-to-date)                                        |   |                   | .23    | %      |     |   | .09 | % |

|                          |   | 06/30/09 |        |   | 12/31/08 |   |
|-------------------------------|--------|----------|-------------|--------|----------|--------|
| Non-Interest Bearing          |   | $        | 44,759,527  |   |     | $      | 51,119,827 |   |
| NOW Accounts                  |   |     | 57,364,103  |   |     |   | 48,338,323 |   |
| Money Market Deposit Accounts |   |     | 31,350,388  |   |     |   | 33,662,518 |   |
| Savings Accounts              |   |     | 18,416,735  |   |     |   | 17,736,516 |   |
| Certificates of Deposit       |   |     | 100,447,788 |   |     |   | 106,357,236 |   |
| Total Deposits                |   | $        | 252,338,541 |   |     | $      | 257,214,420 |   |

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I

It

P

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I

|   Nominee    |   | Number of Votes Cast “FOR”Nominee |      |   | Number of VotesWithheld |   |
|------------------------|--------|-----------------------------------------------|-----------|--------|-------------------------|--------|
| Gordon S. LeBlanc, Jr. |   |                                          | 1,179,856 |   |                    |   | 427,230 |   |
| Bethany L. Overton     |   |                                          | 1,154,739 |   |                    |   | 452,347 |   |
| Robert R. Punches      |   |                                          | 1,154,739 |   |                    |   | 452,347 |   |
|                   |   |                                          |      |   |                    |   |   |   |

|             |   | Number ofVotes Cast |    |   | Percentage of TotalOutstanding Shares |   |
|------------------|--------|---------------------|---------|--------|---------------------------------------|--------|
| For              |   |                | 666,168 |   |                                  |   | 31.33% |   |
| Against          |   |                | 573,891 |   |                                  |   | 26.99% |   |
| Abstain          |   |                | 5,965   |   |                                  |   | 0.28% |   |
| Broker Non-Votes |   |                | 361,062 |   |                                  |   | 16.98% |   |
| Not Voted        |   |                | 519,380 |   |                                  |   | 24.42% |   |
|             |   |                |    |   |                                  |   |   |   |

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| Item 6. | Exhibits |
|---------|----------|

| Exhibit |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 3.1     | *      | Amended and Restated Articles of Incorporation of Britton & Koontz Capital Corporation, incorporated by reference to Exhibit 3.01 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (“Commission”) on February 20, 2009.                                                                                                                                                                                                                                                                                                                           |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 3.2     | *      | By-Laws of Britton & Koontz Capital Corporation, as amended, incorporated by reference to Exhibit 3.2 to Company’s Current Report on Form 8-K filed with the Commission on October 22, 2008.                                                                                                                                                                                                                                                                                                                                                                                                               |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 4.1     | *      | Shareholder Rights Agreement dated June 1, 1996, between Britton & Koontz Capital Corporation and Britton & Koontz First National Bank, as Rights Agent, incorporated by reference to Exhibit 4.3 to Registrant’s Registration Statement on Form S-8, Registration No. 333-20631, filed with the Securities and Exchange Commissionon January 29, 1997, as amended by Amendment No. 1 to Rights Agreement dated as of August 15, 2006, incorporated by reference to Exhibit 4.2 to Registrant’s Current Report on Form 8-K filed with the Securities and Exchange Commission on August 17, 2006. |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 31.1    |   | Certifications of the Chief Executive Officer, as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 31.2    |   | Certifications of the Chief Financial Officer, as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 32.1    |   | Certifications of the Chief Executive Officer, as required pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 32.2    |   | Certifications of the Chief Financial Officer, as required pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

|   *As indicated in the column entitled “Exhibits” this exhibit is incorporated by reference to another filing or document |
|-------------------------------------------------------------------------------------------------------------------------------------------------|

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S

| Date:  | August 6, 2009 | /s/ W. Page Ogden  |
|--------|----------------|-------------------------|
|   |           | W. Page Ogden           |
|   |           | Chief Executive Officer |

| Date:  | August 6, 2009 | /s/ William M. Salters  |
|--------|----------------|------------------------------|
|   |           | William M. Salters           |
|   |           | Chief Financial Officer      |

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E

| Exhibit | Description of Exhibit                                                                                               |
|---------|----------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                 |
| 31.1    | Certifications of the Chief Executive Officer, as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                 |
| 31.2    | Certifications of the Chief Financial Officer, as required pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                 |
| 32.1    | Certifications of the Chief Executive Officer, as required pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|    |                                                                                                                 |
| 32.2    | Certifications of the Chief Financial Officer, as required pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |