SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB
                QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934


For Quarterly Period Ended                               Commission File Number:
         March 31, 2003                                                 33-41045

                          SARASOTA BANCORPORATION, INC.
--------------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


         Florida                                               65-0235255
--------------------------------------------------------------------------------
 (State or other jurisdiction of                             (I.R.S.Employer
  incorporation or organization)                            Identification No.)


           Two North Tamiami Trail, Suite 100, Sarasota, Florida 34236
           -----------------------------------------------------------
                    (Address of principal executive offices)


                                 (941) 955-2626
                                 --------------
                           (Issuer's telephone number)


                                 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 last 12 months (or
for such shorter  period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.

         Yes             X                    No
                  ------------------                  ------------------

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:

Common Stock, $.01 Par Value                             589,000 shares
-----------------------------------           ----------------------------------
            Class                                  Outstanding at May 1, 2003

Transitional Small Business Disclosure Format (Check One):

Yes                             No        X
    -------------------            -------------------


<PAGE>

                          PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements

                          SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEETS
                      March 31, 2003 and December 31, 2002
                                   (UNAUDITED)




<TABLE>
<CAPTION>
ASSETS                                                                                       March 31, 2003        December 31, 2002
--------------------------------------------------------------------------------            -----------------      -----------------
<S>                                                                                          <C>                          <C>
Cash and due from banks                                                                      $   1,165,399                5,246,757
Federal funds sold                                                                              11,354,423                1,925,598
                                                                                             -------------            -------------
  Cash and cash equivalents                                                                     12,519,822                7,172,355
Interest-bearing deposits in bank                                                                  200,000                  200,000
Securities available for sale                                                                   30,246,226               32,398,024
Federal Home Loan Bank stock, at cost                                                              700,000                  354,800
Loans (Net)                                                                                    119,377,414              111,167,571
Accrued interest receivable                                                                        659,272                  588,892
Repossesed assets                                                                                        -                        -
Servicing rights                                                                                    53,005                  106,015
Furniture and equipment, net                                                                       336,861                  341,465
Deferred income taxes                                                                              271,319                  217,098
Other assets                                                                                        86,105                   32,371
                                                                                             -------------            -------------

     TOTAL ASSETS:                                                                           $ 164,450,024            $ 152,578,591
                                                                                             =============            =============




LIABILITIES AND STOCKHOLDERS' EQUITY
--------------------------------------------------------------------------------


LIABILITIES:

Noninterest-bearing demand deposits                                                          $  17,063,619               16,794,404
Interest-bearing demand deposits                                                                30,072,801               25,978,639
Savings deposits                                                                                 1,132,425                1,096,045
Other time deposits                                                                             83,818,757               83,362,318
                                                                                             -------------            -------------
  Total deposits                                                                               132,087,602              127,231,406

FHLB advances                                                                                   14,000,000                7,000,000
Repurchase agreements                                                                            5,454,616                6,181,937
Income taxes payable                                                                               350,160                        -
Accrued interrest payable                                                                          199,042                  114,823
Other liabilities                                                                                  126,697                  198,719
                                                                                             -------------            -------------

     TOTAL LIABILITIES:                                                                        152,218,117              140,726,885

STOCKHOLDERS' EQUITY:

Preferred stock, $.10 par value.  authorized 1,000,000 shares;
   none issued or outstanding                                                                            -                        -
Common stock, $.01 par value.  authorized 10,000,000 shares;
     outstanding 589,000 shares                                                                      5,890                    5,890
Additional paid-in capital                                                                       6,150,463                6,150,463
Treasury stock, at cost                                                                             (5,012)                  (5,012)
Retained earnings                                                                                5,714,176                5,241,653
Accumulated other comprehensive income (loss)                                                      366,390                  458,712
                                                                                             -------------            -------------

     TOTAL STOCKHOLDERS' EQUITY:                                                                12,231,907               11,851,706
                                                                                             -------------            -------------


     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY:                                             $ 164,450,024              152,578,591
                                                                                             =============            =============
</TABLE>

REFER TO NOTES TO THE FINANCIAL STATEMENTS

                                      -2-

<PAGE>

                  SARASOTA BANCORPORATION, INC. AND SUBSIDIARY


                        CONSOLIDATED STATEMENTS OF INCOME
               FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                              THREE MONTHS             THREE MONTHS
                                                                                                 ENDED                    ENDED
                                                                                               3/31/2003                3/31/2002
                                                                                             -------------            -------------

INTEREST INCOME:

<S>                                                                                           <C>                       <C>
Loans receivable and fees on loans                                                            $ 2,125,346               $ 1,950,831
Investment securities                                                                             295,557                   312,132
Federal funds sold                                                                                 18,238                    30,699
                                                                                              -----------               -----------

     TOTAL INTEREST INCOME                                                                      2,439,141                 2,293,662
                                                                                              -----------               -----------

INTEREST EXPENSE:

Deposits                                                                                          764,529                   884,862
Other                                                                                              94,252                    64,901
                                                                                              -----------               -----------

     TOTAL INTEREST EXPENSE                                                                       858,781                   949,763
                                                                                              -----------               -----------

     NET INTEREST INCOME                                                                        1,580,360                 1,343,899

Provision for loan losses                                                                         103,100                   150,000
                                                                                              -----------               -----------

     NET INTEREST INCOME AFTER
         PROVISION FOR LOAN LOSSES                                                              1,477,260                 1,193,899
                                                                                              -----------               -----------

Noninterest income:

Service charges on deposit accounts                                                                46,381                    46,936
Net gain (loss) from sale of repossed assets                                                            -                      (659)
Other income                                                                                       42,988                    33,880
                                                                                              -----------               -----------

     Total noninterest income                                                                      89,369                    80,157
                                                                                              -----------               -----------


Noninterest Expenses:

Salaries and employee benefits                                                                    351,548                   318,702
Occupancy                                                                                         115,398                   106,179
Data processing                                                                                    66,460                    51,359
Professional Fees                                                                                  51,035                    57,179
Other                                                                                             202,066                   200,774
                                                                                              -----------               -----------

     Total noninterest expenses:                                                                  786,507                   734,193
                                                                                              -----------               -----------

     INCOME BEFORE TAXES                                                                          780,122                   539,863

     PROVISION FOR TAXES                                                                          307,600                   221,500
                                                                                              -----------               -----------

     NET INCOME                                                                               $   472,522               $   318,363
                                                                                              ===========               ===========


NET INCOME PER SHARE OF COMMON STOCK                                                                 0.80                      0.57
                                                                                              ===========               ===========
</TABLE>

REFER TO NOTES TO THE FINANCIAL STATEMENTS

                                      -3-

<PAGE>

                          SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND 2002

                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                              THREE MONTHS             THREE MONTHS
                                                                                                  ENDED                    ENDED
                                                                                                3/31/2003                3/31/2002
                                                                                              -------------            -------------

CASH FLOWS FROM OPERATING ACTIVITY:

<S>                                                                                          <C>                            <C>
NET INCOME                                                                                   $    472,522                   318,363
ADJUSTMENTS TO RECONCILE NET INCOME TO NET
     CASH FLOWS FROM OPERATIONS:

Depreciation and amortization                                                                      14,957                    11,768
Amortization of servicing rights                                                                   53,010                    53,010
Provision for loan losses                                                                         103,100                   150,000
Net change in -                                                                                         -
  Accrued interest receivable                                                                     (70,380)                  (23,116)
  Repossessed assets                                                                                    -                    14,100
  Other assets                                                                                    (53,734)                   (2,543)
  Income taxes payable                                                                            350,160                   197,453
  Accrued interest payable and other liabilities                                                   12,197                    43,885
                                                                                             ------------              ------------

     NET CASH PROVIDED BY OPERATING ACTIVITIES:                                                   881,832                   762,920
                                                                                             ------------              ------------


CASH FLOW FROM INVESTING ACTIVITIES:

Purchase of investment securities, net                                                          2,005,256                (4,542,696)
Purchase of FHLB stock                                                                           (345,200)                        -
Net increase in loans                                                                          (8,312,943)               (2,755,293)
Purchase of furniture and equipment                                                               (10,353)                  (24,916)
                                                                                             ------------              ------------

NET CASH USED IN INVESTING ACTIVITIES:                                                         (6,663,240)               (7,322,905)
                                                                                             ------------              ------------


CASH FLOW FROM FINANCING ACTIVITIES:

Net increase in deposits                                                                        4,856,196                 2,081,427
Net (decrease) increase in repurchase agreements                                                 (727,321)                1,647,501
Net increase in FHLB advances                                                                   7,000,000                         -
Proceeds from sale of treasury stock                                                                    -                     3,473
                                                                                             ------------              ------------

NET CASH PROVIDED BY FINANCING ACTIVITIES:                                                     11,128,875                 3,732,401
                                                                                             ------------              ------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                                                         5,347,467                (2,827,584)

CASH AND CASH EQUIVALENTS BEGINNING OF PERIOD                                                   7,172,355                 8,580,587
                                                                                             ------------              ------------

CASH AND CASH EQUIVALENTS END OF PERIOD                                                      $ 12,519,822                 5,753,003
                                                                                             ============              ============

Supplemental Disclosure of Cash Flow Information -
     Interest paid                                                                           $    774,562                   991,765
                                                                                             ============              ============

       Income taxes paid                                                                              $ -                    24,047
                                                                                             ============              ============
</TABLE>

REFER TO NOTES TO THE FINANCIAL STATEMENTS

                                      -4-

<PAGE>

                          SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY

                    Notes to Financial Statements (Unaudited)
                                 March 31, 2003

Note 1 - Basis of Presentation

     The accompanying financial statements have been prepared in accordance with
accounting  principles  generally  accepted  in the United  States  for  Interim
Financial Statements 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  adjustments)
considered  necessary  for a fair  presentation  have been  included.  Operating
results for the three  month  period  ended  March 31, 2003 are not  necessarily
indicative of the results that may be expected for the year ending  December 31,
2003. For further  information,  refer to the financial statements and footnotes
thereto  included in the Company's  Form 10-KSB for the year ended  December 31,
2002.

Note 2 - Summary of Organization

     Sarasota  BanCorporation,  Inc.,  Sarasota,  Florida (the  "Company"),  was
incorporated  under the laws of the State of Florida on December 28,  1990,  for
the purpose of becoming a bank  holding  company  with  respect to a proposed de
                                                                              --
novo bank, Sarasota Bank (the "Bank"), Sarasota,  Florida. Prior to formation of
----
the  Company,   the  Company's  organizers  formed  a  partnership  to  commence
organizing a bank holding company.  The partnership was subsequently merged into
the Company as of December  30,  1990.  As a result,  each  organizer's  capital
account in the partnership was exchanged for common stock of the Company and all
assets  of the  partnership  were  contributed  as  capital  to the  Company  in
consideration  of the  issuance  of its  common  stock  to  the  organizers.  On
September  15, 1992,  the  organizers  received  approval from the Office of the
Comptroller of the State of Florida for the  organization of a new state banking
association;  an  approval  was also  received  on May 29, 1992 from the Federal
Reserve Board to form a one-bank  holding  company.  On September 15, 1992,  the
Company  acquired 100% of the Bank's  capital  stock by injecting  $4.25 million
into the Bank's capital accounts.

Note 3 - Significant Accounting Policies

     The accounting and reporting  policies of the Company  conform to generally
accepted accounting principles and to general practices in the banking industry.
The following summarizes the more significant of these policies:

     Investment Securities.  As of March 31, 2003, no Investment Securities were
     ---------------------
carried as "Held to Maturity."

     Available for Sale  Securities.  As of March 31, 2003,  the market value of
     -------------------------------
"Available for Sale Securities" was $30,246,226.

                                      -5-

<PAGE>

     Earnings  Per Share.  Earnings  per share were $0.80 for the quarter  ended
     --------------------
March 31, 2003. The earnings per share for this quarter may not be indicative of
projected earnings (losses) for the year ending December 31, 2003.

     Income  Taxes.  The Company  will be subject to taxation  whenever  taxable
     --------------
income is  generated.  As of March 31, 2003,  the provision for income taxes was
$307,600.

     Statement of Cash Flows. The presentation of the statement of cash flows is
     ------------------------
condensed  as  permitted  by  the  Securities  and  Exchange   Commission.   The
classification  of cash  flows  is  consistent  with  the  requirements  of FASB
Statement No. 95.

Note 4 - Related Parties

     One of the  Company's  directors  serves as legal  counsel for the Company.
Gross fees for these services  during the three months ended March 31, 2003 were
$2,811. Another director provides advertising,  printing and other miscellaneous
services to the Company. The gross billings,  which include costs passed through
to other companies providing services to the Company,  were $7,935 for the three
months ended March 31, 2003. Another director provides  accounting  services for
the Company.  Fees for these  services for the quarter ended March 31, 2003 were
$1,025.

Note 5 - Stock-based Compensation

     Options  granted to employees are  accounted for using the intrinsic  value
method under APB Opinion No. 25, "Accounting for Stock Issued to Employees," for
which no compensation  cost has been recognized.  The pro forma after tax effect
of compensation cost attributable to the options was immaterial to the operating
results for the quarters ended March 31, 2003 and March 31, 2002.

                                      -6-

<PAGE>

Item 2.           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
-------           -------------------------------------------------
                       CONDITION AND RESULTS OF OPERATIONS
                       -----------------------------------

     The following  discussion addresses the factors that have affected Sarasota
BanCorporation,  Inc.'s  (the  "Company")  financial  condition  and  results of
operations  reflected in the Company's  unaudited  financial  statements for the
first quarter ended March 31, 2003.

Results of Operations

     The  Company's  net income for the first  quarter of 2003 was  $472,522,  a
48.4%  increase  compared to $318,363 for the same period in 2002.  Earnings per
share were $0.80 in the first  quarter of 2003  compared  to $0.57 per share for
the same period in 2002. The increase in net income is primarily attributable to
an  increase  in  interest  income and a decrease  in  interest  expense for the
three-month  period ended March 31, 2003.  Interest and fees on loans  increased
$174,515 or 8.9% for the three-month period ended March 31, 2003 compared to the
same  period in 2002.  Interest  on  investment  securities  decreased  5.3% and
interest on Federal  Funds sold  decreased  40.6% for the first  quarter of 2003
compared to the same period in 2002.

     Net  interest  income  after the  provision  for loan  losses for the first
quarter of 2003 increased  $283,361,  or 23.7%,  to $1,477,260 from a balance of
$1,193,899  for the first quarter of 2002.  The increase in net interest  income
resulted  primarily  from an increase in interest  and fee income on loans and a
decrease in interest  expense  associated  with  deposits.  The cost of deposits
averaged  2.34% for the first  quarter of 2003  compared  to 3.20% for the first
quarter of 2002.  The net  interest  margin for the three months ended March 31,
2003 was 3.91% on average earning assets of $157,703,933. For the same period in
2002,  the  net  interest   margin  was  4.16%  on  average  earning  assets  of
$127,325,297.  The decrease in net interest  margin reflects a rapid decrease in
the higher earning  investment  securities of governmental  agencies held by the
Bank.

     Non-interest  expense for the first quarter of 2003 increased  $52,314,  or
7.1%, as compared to the first  quarter of 2002.  This increase is primarily the
result of an increase in costs associated with employee benefits.

     Non-interest  income increased  $9,212, or 11.5 %, during the quarter ended
March  31,  2003 as  compared  to the same  period  in  2002.  The  increase  in
non-interest  income is primarily  attributable  to an increase in fees received
from loans sold to the U.S. Small Business Administration.

Financial Condition

     For the three month period ended March 31,  2003,  the Company  experienced
continued  asset,  loan and  deposit  growth.  Total  assets  increased  7.8% to
$164,450,024 for the three-month  period ended March 31, 2003 from  $152,578,891
at December 31, 2002. This increase is primarily attributable to loan growth.

     The  allowance  for loan loss  provision  for the first quarter of 2003 was
$103,100  compared to $150,000 in the first quarter of 2002. The reserve balance
for loan losses as of March 31, 2003 was $1,718,621 as compared to $1,184,444 at
December 31, 2002. At March 31, 2003, the allowance for loan losses  represented
1.42% of total loans outstanding compared to 1.20% at December 31, 2002.

                                      -7-

<PAGE>

     Management considers the allowance to be adequate based upon evaluations of
specific loans and the weighting of various loan  categories as suggested by the
Bank's internal loan rating system.  The provision for loan losses is based upon
management's  continuing  analysis and evaluation of various factors,  including
current  economic  conditions,  the size of the loan  portfolio,  past loan loss
experience,  underlying  collateral value, the Bank's internal rating system and
other factors deemed relevant by management.

     Through the first quarter of 2003, there were nine charged-off loans in the
aggregate amount of $40,762 and total recoveries of $8,022, or a net of 0.03% of
total loans outstanding.  The ratio of non-performing  loans (including loans 90
days or more past due) to total  outstanding  loans was  $1,055,648  or 0.87% of
total loans  outstanding as of March 31, 2003,  compared to 0.23% of total loans
outstanding  as of March 31, 2002.  At December 31, 2002,  non-performing  loans
were $1,077,677 or .95%, of total loans outstanding.  The  non-performing  loans
consist primarily of one commercial customer with several  non-performing loans.
The debt to this customer has been  restructured  and payments have been made in
accordance with the  restructure  agreement.  There were no loans  classified as
performing that are past due in excess of 90 days as of March 31, 2003.

Capital Adequacy

     Federal  banking  regulators  have  established  certain  capital  adequacy
standards required to be maintained by banks and bank holding  companies.  These
regulations  establish  minimums of  risk-based  capital of 4% for core  capital
(tier 1  capital),  8% for  total  risk-based  capital,  and at least 3% for the
leverage ratio.  Three percent is the minimum leverage ratio for the most highly
rated  banks.  All other banks are required to meet a minimum of at least 100 or
200 basis points above the 3% level.  The  Company's  tier 1 risk-based  capital
ratio at March 31,  2003 was  9.72%,  its  total  risk-based  capital  ratio was
10.97%, and its leverage ratio was 7.42%.

Liquidity

     The Company views  liquidity as the ability to provide for the credit needs
of the market  and to  provide  funds for  deposit  withdrawals.  With a loan to
deposit ratio of 90.36% at March 31, 2003, cash and due from banks of $1,165,399
and federal  funds sold of  $11,354,423  , the Company does not  anticipate  any
events which would  require  liquidity  beyond that which is  available  through
deposit growth or its investment  portfolio.  The Company  actively  manages the
levels,  types,  and  maturities  of earning  assets in  relation to the sources
available to fund current and future  needs to ensure  adequate  funding will be
available at all times.  There are no known trends or any known  commitments  or
uncertainties  that  will  result  in  the  Company's  liquidity  increasing  or
decreasing in any material way.

Cautionary Note Regarding Forward-Looking Statements

     The Company may,  from time to time,  make written or oral  forward-looking
statements,  including  statements  contained in the Company's  filings with the
Securities  and  Exchange  Commission  and its  reports  to  stockholders.  Such
forward-looking  statements  are made  based on  management's  belief as well as
assumptions made by, and information currently available to, management pursuant
to "safe harbor" provisions of the Private  Securities  Litigation Reform Act of
1995.  The  Company's  actual  results  may differ  materially  from the results
anticipated  in these  forward-looking  statements  due to a variety of factors,
including  governmental  monetary  and fiscal  policies,  deposit  levels,  loan
demand,  loan collateral values,  securities  portfolio values and interest rate

                                      -8-

<PAGE>

risk  management;  the effects of competition in the banking business from other
commercial  banks,  savings  and  loan  associations,  mortgage  banking  firms,
consumer finance companies, credit unions, securities brokerage firms, insurance
companies,  money market mutual funds and other financial institutions operating
in the Company's  market area and elsewhere,  including  institutions  operating
through the Internet; changes in acquisitions; failure of assumptions underlying
the establishment of reserves for loan losses, including the value of collateral
underlying  delinquent  loans and other factors.  The Company cautions that such
factors  are not  exclusive.  The  Company  does not  undertake  to  update  any
forward-looking  statements  that may be made from time to time by, or on behalf
of, the Company.


Item 3.           CONTROLS AND PROCEDURES

     Within the 90 days prior to the filing  date of this  report,  the  Company
carried out an evaluation,  under the supervision and with the  participation of
the Company's  management,  including the Company's Chief Executive  Officer and
Chief Financial Officer, of the effectiveness of the design and operation of the
Company's  disclosure  controls  and  procedures  pursuant to Exchange  Act Rule
15d-15.  Based upon that evaluation,  the Company's Chief Executive  Officer and
Chief Financial  Officer  concluded that the Company's  disclosure  controls and
procedures  are  effective  in  timely  alerting  them to  material  information
relating  to the  Company  and its  subsidiary  required  to be  included in the
Company's Securities and Exchange Commission's filings.  Disclosure controls and
procedures  are  controls  and  procedures  that are  designed  to  ensure  that
information required to be disclosed in Company reports filed or submitted under
the Exchange Act is recorded, processed, summarized and reported within the time
periods specified in the Securities and Exchange Commission's rules and forms.

     There have been no significant  changes in the Company's  internal controls
or in other factors that could significantly affect internal controls subsequent
to the date management carried out this evaluation.






                                      -9-

<PAGE>





                           PART II. OTHER INFORMATION

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

     (a)  99.1 Certifications  Pursuant to Section 906 of the Sarbanes-Oxley Act
          of 2002.

     (b)  Reports on Form 8-K.  No  reports  on Form 8-K were  filed  during the
          quarter ended March 31, 2003.



                                   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.


                          SARASOTA BANCORPORATION, INC


Dated:   May 13, 2003   By: /s/ Christine L. Jennings
                           -----------------------------------------------------
                              Christine L. Jennings
                              President and Chief Executive Officer (Principal
                              Executive Officer)




Dated:  May 13, 2003    By: /s/ Susan K. Flynn
                           -----------------------------------------------------
                              Susan K. Flynn
                              Senior Vice President and Chief Financial Officer
                              (Principal Financial and Accounting Officer)






<PAGE>



                                 CERTIFICATIONS

I, Christine L. Jennings, certify that:

1.   I  have  reviewed  this  quarterly   report  on  Form  10-QSB  of  Sarasota
     BanCorporation, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  May 13, 2003

                                           /s/ Christine L. Jennings
                                           -------------------------------------
                                           Christine L. Jennings
                                           President & Chief Executive Officer



<PAGE>



                                 CERTIFICATIONS

I, Susan K. Flynn, certify that:

1.   I  have  reviewed  this  quarterly   report  on  Form  10-QSB  of  Sarasota
     BanCorporation, Inc.;

2.   Based on my knowledge,  this  quarterly  report does not contain any untrue
     statement of a material fact or omit to state a material fact  necessary to
     make the statements  made, in light of the  circumstances  under which such
     statements  were made, not misleading with respect to the period covered by
     this quarterly report;

3.   Based on my  knowledge,  the  financial  statements,  and  other  financial
     information  included  in this  quarterly  report,  fairly  present  in all
     material respects the financial  condition,  results of operations and cash
     flows of the  registrant  as of, and for,  the  periods  presented  in this
     quarterly report;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities,  particularly  during  the  period in which  this  quarterly
          report is being prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this quarterly report (the "Evaluation Date"); and

     c)   presented  in  this  quarterly   report  our  conclusions   about  the
          effectiveness  of the disclosure  controls and procedures based on our
          evaluation as of the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of  registrant's  board of directors (or persons  performing  the
     equivalent function):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,   summarize  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     quarterly report whether or not there were significant  changes in internal
     controls  or in other  factors  that could  significantly  affect  internal
     controls  subsequent to the date of our most recent  evaluation,  including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.

Date:  May 13,  2003

                                         /s/ Susan K Flynn
                                         --------------------------------------
                                         Susan K. Flynn
                                         Sr. Vice President & Chief
                                         Financial Officer





<PAGE>



                                  EXHIBIT INDEX

Exhibit No.    Description
-----------    -----------

99.1           Certifications  Pursuant to Section 906 of the Sarbanes-Oxley Act
               of 2002.