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:
       September 30, 2000                                       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                            559,140
     ----------------------------               --------------------------------
              Class                              Outstanding at November 6, 2000

Transitional Small Business Disclosure Format (Check One):

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

<PAGE>
<TABLE>
                          PART I. FINANCIAL INFORMATION
                          Item 1. Financial Statements

                          SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEETS
                    SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
                                   (UNAUDITED)

ASSETS                                                           September 30, 2000         December 31, 1999
--------------------------------------------------               ---------------------      -----------------

<S>                                                                    <C>                          <C>
Cash and Due From Banks                                                $   3,123,984                3,499,503
Federal Funds Sold                                                           910,000                  535,000
Securities held to maturity                                                        -                        -
Securities available for sale                                             18,159,275               17,659,424
Loans (Net)                                                               85,479,680               71,234,573
Accrued interest receivable                                                  718,411                  560,533
Foreclosed real estate                                                       243,627                   57,273
Repossesed assets                                                            154,707                  423,583
Furniture and equipment,net                                                  319,216                  355,233
Deferred income taxes                                                        511,809                  582,286
Other assets                                                                  60,476                  282,440
                                                                       -------------               ----------

     TOTAL ASSETS:                                                     $ 109,681,185               95,189,848
                                                                       =============               ==========

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

LIABILITIES:

Demand deposits                                                          $ 9,114,396                9,702,466
NOW and money market deposits                                             26,294,576               28,613,750
Savings deposits                                                             688,503                  837,752
Other time deposits                                                       57,082,051               46,616,740
                                                                       -------------               ----------
  Total deposits                                                          93,179,526               85,770,708
                                                                       -------------               ----------

Repurchase agreements                                                      5,156,419                2,157,832
Borrowed funds-FHLB                                                        3,000,000
Income taxes payable                                                          24,000                   59,300
Accrued interrest payable                                                    246,853                  200,372
Other liabilities                                                            261,203                  159,407
                                                                       -------------               ----------

     TOTAL LIABILITIES:                                                  101,868,001               88,347,619

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 559,140 shares                                                5,591                    5,591
Additional Paid-In Capital                                                 5,588,927                5,588,927
Treasury stock, at cost                                                      (12,332)                 (18,839)
Retained earnings                                                          2,632,510                1,788,063
Net unrealized appreciation on available-for-sale securities (net)          (401,512)                (521,513)
                                                                       -------------               ----------

     TOTAL STOCKHOLDERS' EQUITY:                                           7,813,184                6,842,229
                                                                       -------------               ----------

     TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY:                       $ 109,681,185               95,189,848
                                                                       =============               ==========
</TABLE>
                                       2
<PAGE>
<TABLE>
                          SARASOTA BANCORPORATION, INC.
                                SARASOTA, FLORIDA

                      CONSOLIDATED STATEMENTS OF OPERATIONS
             FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (UNAUDITED)

                                             THREE MONTHS              THREE MONTHS             NINE MONTHS           NINE MONTHS
                                                 ENDED                    ENDED                    ENDED                 ENDED
                                                9/30/00                  9/30/99                  9/30/00               9/30/99
                                         ----------------------    ---------------------    --------------------   -----------------
INTEREST INCOME:
<S>                                          <C>                        <C>                     <C>                      <C>
Interest and Fees on Loans                   $ 2,071,563                1,718,951               5,801,070                4,686,602
Interest on Federal Funds Sold                    11,858                   50,489                 134,417                  177,249
Interest on Investment Securities                313,816                  272,722                 945,576                  832,218
                                              ----------                ---------               ---------                ---------

     TOTAL INTEREST INCOME:                    2,397,237                2,042,162               6,881,063                5,696,069

INTEREST EXPENSE:

Interest on Deposits                           1,174,018                  878,974               3,363,053                2,441,834
Interest on Borrowings                            11,934                   16,809                  24,770                   55,652
Interest on Repurchase agreements                 58,817                   39,078                 137,482                  120,730
                                              ----------                ---------               ---------                ---------

     TOTAL INTEREST EXPENSE:                   1,244,769                  934,861               3,525,305                2,618,216
                                              ----------                ---------               ---------                ---------

     NET INTEREST INCOME:                      1,152,468                1,107,301               3,355,758                3,077,853

Provision For Possible Loan Losses               147,000                  100,000                 293,600                  224,100
                                              ----------                ---------               ---------                ---------

     NET INTEREST INCOME (LOSS) AFTER
        PROVISION FOR POSSIBLE LOAN LOSSES:    1,005,468                1,007,301               3,062,158                2,853,753

OTHER OPERATING INCOME:

Service Charges on Deposit Accounts               70,982                   67,235                 185,006                  164,195
Other Fees and Other Income                       58,674                   47,710                 237,240                  129,208
                                              ----------                ---------               ---------                ---------

     NET OTHER OPERATING INCOME:                 129,656                  114,945                 422,246                  293,403

OPERATING EXPENSES:

Salaries and employee benefits                   239,127                  239,956                 734,810                  716,436
Occupancy                                         98,031                   98,792                 270,601                  291,024
Loan costs                                       184,120                  162,703                 501,401                  402,259
Data processing                                   39,081                   43,955                 141,652                  113,361
Professional Fees                                 58,484                   41,438                 163,549                  132,225
Other                                            100,543                   98,385                 326,668                  280,283
                                              ----------                ---------               ---------                ---------

     TOTAL OTHER OPERATING EXPENSES:             719,386                  685,229               2,138,681                1,935,588
                                              ----------                ---------               ---------                ---------

     INCOME BEFORE TAXES                         415,738                  437,017               1,345,723                1,211,568

     PROVISION FOR TAXES                         144,000                  162,617                 501,275                  448,117
                                              ----------                ---------               ---------                ---------

     NET INCOME (LOSS)                        $  271,738                  274,400                 844,448                  763,451
                                              ==========                =========               =========                =========

INCOME (LOSS) PER SHARE                       $     0.49                     0.49                    1.51                     1.37
                                              ==========                =========               =========                =========
</TABLE>
                                       3
<PAGE>
<TABLE>
                         SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (UNAUDITED)

                                                                NINE MONTHS                     NINE MONTHS
                                                                   ENDED                           ENDED
                                                                  9/30/00                         9/30/99
                                                            ---------------------          ----------------------
CASH FLOWS FROM OPERATING ACTIVITY:

<S>                                                                    <C>                               <C>
NET INCOME (LOSS)                                                      $ 844,448                         763,451
ADJUSTMENTS TO RECONCILE NET LOSS TO NET
     CASH FLOWS FROM OPERATIONS:

Depreciation and amortization                                             41,777                          40,807
Provision for Loan Losses                                                293,600                         224,100
Net accretion/amortization on securities                                       -                               -
(Increase) Decrease in Accrued Interest Receivable                      (157,878)                        (74,881)
(Increase) Decrease in A/R-employee stock purchase                             -                         (24,077)
(Increase)Decreased in Foreclosed real estate                           (186,354)                         10,800
(Increase)Decrease in repossesed assets                                  268,876                               -
(Increase)Decrease in other assets                                       216,203                         (11,437)
(Decrease)Increase in income taxes payable                               (35,300)                              -
(Decrease)Increase in accrued interest payable and other liabilities     148,277                        (295,311)
                                                                      ----------                      ----------

     NET CASH USED IN OPERATING ACTIVITIES:                            1,433,649                         633,452
                                                                      ----------                      ----------

CASH FLOW FROM INVESTING ACTIVITIES:

Purchase of investment securities, Net                                  (309,373)                        371,826
Purchase of furniture & equipment                                              -                         (32,079)
Increase in Loans, Net                                               (14,538,707)                    (15,615,067)
                                                                     -----------                      ----------

NET CASH USED IN INVESTING ACTIVITIES:                               (14,848,080)                    (15,275,320)
                                                                     -----------                      ----------

CASH FLOW FROM FINANCING ACTIVITIES:

Proceeds from sale of treasury stock                                       6,507                          27,848
Proceeds from FHLB borrowing                                           3,000,000                               -
(Decrease) Increase in repurchase agreements                           2,998,587                         318,734
Net Increase in Deposits                                               7,408,818                      16,211,256
                                                                     -----------                      ----------

NET CASH PROVIDED BY FINANCING ACTIVITIES:                            13,413,912                      16,557,838
                                                                     -----------                      ----------

NET INCREASE (DECREASE) IN CASH:                                            (519)                      1,915,970

CASH AS BEGINNING OF PERIOD:                                           4,034,503                       5,266,115
                                                                     -----------                      ----------

CASH AT END OF PERIOD:                                                 4,033,984                       7,182,085
                                                                     ===========                      ==========
Supplemental Disclosure of Cash Flow Information -
    Cash Paid During The Period For Interest:                       $  3,478,824                       2,589,715
                                                                     ===========                      ==========
</TABLE>
                                       4
<PAGE>

                          SARASOTA BANCORPORATION, INC.
                                 AND SUBSIDIARY
                    Notes to Financial Statements (Unaudited)
                               September 30, 2000

Note 1 - Basis of Presentation

         The accompanying  financial statements have been prepared in accordance
with generally accepted accounting  principles 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 accruals) considered necessary for a
fair  presentation  have been  included.  Operating  results for the  nine-month
period ended  September 30, 2000 are not  necessarily  indicative of the results
that  may be  expected  for the year  ending  December  31,  2000.  For  further
information, refer to the financial statements and footnotes thereto included in
Form 10-KSB for the year ended December 31, 1999.

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  organizers'  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  and  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  September  30, 2000,  no  Investment
Securities  were carried as "Held to Maturity."


                                       5
<PAGE>


         Available  for Sale  Securities.  As of  September 30, 2000, the market
value of  "Available  for Sale Securities" was $18,159,275.

         Net Income Per  Share.  Net income per share was $ .49 for the  quarter
ended  September  30,  2000  and may not be  indicative  of  projected  earnings
(losses) for the year ending December 31, 2000.

         Income Taxes.  The Company will be subject to taxation whenever taxable
income is  generated.  As of September 30, 2000, the provision for taxes was
$501,275.

         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 nine months ended  September 30, 2000
was $18,396.  This amount includes sums paid by the Bank to this firm as well as
sums paid by bank customers and cost advances.  Another  director of the Company
provides advertising,  printing and other miscellaneous services to the Company.
The gross  billing,  which  includes  costs  passed  through to other  companies
providing  services  to the  Company,  was  $52,354  for the nine  months  ended
September  30,  2000.  Another  director  provides  accounting  services for the
Company.  Fees for these  services for the nine months ended  September 30, 2000
were $5,534.

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 as reflected in the Company's unaudited  financial  statements for
the third quarter ended September 30, 2000.



                                       6
<PAGE>


Results of Operations

         The Company's net income for the third quarter of 2000 was $271,738,  a
0.97% decrease as compared to $274,400 for the same period in 1999. Earnings per
share  remained  constant  at $0.49 per share for the third  quarter  of 2000 as
compared  to the same  period in 1999.  Net  income  for the nine  months  ended
September  30, 2000 was  $844,448  compared  to $763,451  for the same period in
1999, an increase of $80,997 or 10.61%. The decrease in net income for the third
quarter of 2000 is primarily attributable to a $47,000 or 47.00% increase in the
provision for loan losses as a result of the loan  relationship  discussed below
in "Financial  Condition."  The increase in net income for the nine months ended
September  30,  2000 was  primarily  attributable  to a  $1,114,468  or a 23.78%
increase in interest and fees on loans.

         Net  interest  income  after  provision  for loan  losses for the third
quarter of 2000  decreased  $1,833,  or 0.18%,  to $1,005,468  from a balance of
$1,007,301  for the third quarter of 1999. Net interest  income after  provision
for loan losses for the nine months ended September 30, 2000 increased $208,405,
or 7.30%,  to  $3,062,158  from a balance of  $2,853,753  for the same period in
1999.  The  increase in net  interest  income for the  nine-month  period  ended
September  30,  2000  resulted  primarily  from an increase in loan volume and a
corresponding  increase  in  interest  and fees on loans.  The cost of  deposits
averaged  4.85% for the third  quarter of 2000  compared  to 4.23% for the third
quarter of 1999. The net interest margin for the nine months ended September 30,
2000 was 4.28% on average earning assets of $101,863,000  for the period stated.
For the same  period in 1999,  the net  interest  margin was  4.65%,  on average
earning assets of $87,800,000. The decrease in net interest margin is reflective
of growth in higher priced interest bearing liability accounts.

         Non-interest  expense for the third quarter of 2000 increased  $34,157,
or  4.98%,  as  compared  to the third  quarter  of 1999.  Non-interest  expense
increased  $203,093,  or 10.49%,  for the nine-month  period ended September 30,
2000 as compared  to the same period in 1999.  This  increase is  primarily  the
result of increased loan costs,  data processing fees and  professional  service
fees.

         Non-interest  income  increased  $14,711,  or 12.79%,  during the third
quarter  ended  September  30,  2000 as  compared  to the same  period  in 1999.
Non-interest  income also  increased  $128,843,  or 43.91%,  for the  nine-month
period  ended  September  30, 2000 as  compared to the same period in 1999.  The
increase in non-interest  income is  attributable  to increased  service fees on
depository  accounts as well as  increased  income from  "Business  Manager," an
accounts receivable servicing program now offered by the Bank.

Financial Condition

         For the  nine-month  period  ended  September  30,  2000,  the  Company
experienced  continued  asset,  loan and deposit growth.  Total assets increased
15.22% to $109,681,185  for the nine-month  period ended September 30, 2000 from
$95,189,848 at December 31, 1999. This increase is primarily  attributable to an
increase in loans of  approximately  $14,245,000  and an increase in  securities
available for sale of approximately $500,000 during this period.

                                       7
<PAGE>

         The allowance for loan loss provision for the third quarter of 2000 was
$147,000  compared to $100,000 in the third quarter of 1999. The reserve balance
for loan losses as of September 30, 2000 was $893,331 as compared to $764,874 at
December  31,  1999.  At  September  30,  2000,  the  allowance  for loan losses
represented 1.03% of total loans outstanding. 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 third quarter of 2000,  charged-off  loans totaled $181,683
with recoveries of $7,889,  or a net of 0.20% of total gross loans  outstanding.
The ratio of non-performing  loans (including loans 90 days or more past due) to
total  outstanding  loans was  $431,000,  or 0.50%,  as of  September  30,  2000
compared  to 0.29% as of the same  period in 1999.  At year ended  December  31,
1999,  non-performing loans were $291,500,  or 0.44%, of loans outstanding.  The
increase in  non-performing  loans as compared to December 31, 1999 is primarily
attributable  to  consumer  loans  past due from 30 to 90  days.  There  were no
non-performing loans past due in excess of 90 days as of September 30, 2000. The
Bank has entered into a workout agreement with one of its borrowers in an effort
to assist the borrower in restructuring certain financial-related  operations of
the borrower's  business.  The outstanding  balances of this  relationship  were
approximately  $1,400,000  as of September  30,2000,  which  includes a Business
Manager  account  balance of $647,000.  As of November 6, 2000, the  outstanding
balances of this relationship were approximatley  $1.1 million.  The anticipated
workout  period  for this  relationship  is three  years.  The  increase  in the
provision for loan losses discussed above is primarily attributable to this loan
relationship.

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),  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 September 30, 2000 was 9.63%, its total risk-based  capital ratio was 10.68%,
and its leverage ratio was 7.70%.

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 91.74%  at  September  30,  2000,  cash and due from  banks of
$3,123,984  and federal funds sold of $910,000,  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.

                                       8
<PAGE>



                           PART II. OTHER INFORMATION



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

         (a)      The following exhibit is filed with this report:

                  Exhibit No.               Description

                           27         Financial Data Schedule (for SEC use only)

         (b)      Reports on Form 8-K. No reports on Form 8-K were filed  during
                  the quarter  ended  September  30, 2000.



<PAGE>


                                   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:   November 6th, 2000                  By:   /s/ Christine L. Jennings
                                                --------------------------------
                                                       Christine L. Jennings
                                                       President (Principal
                                                       Executive Officer)



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



<PAGE>


                                  EXHIBIT INDEX

Exhibit No.                                  Description

27                                  Financial Data Schedule