<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                   FORM 10-QSB

(Mark One)

X        QUARTERLY REPORT UNDER SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934 For the quarterly period ended March 31, 2002

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

                          Commission File No. 333-41545


                                 ebank.com, Inc.
--------------------------------------------------------------------------------
        (Exact Name of Small Business Issuer as Specified in its Charter)


                 Georgia                               58-2349097
                 -------                               ----------
         (State of Incorporation)           (I.R.S. Employer Identification No.)


            2410 Paces Ferry Road, Suite 280, Atlanta, Georgia 30339
            --------------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (770) 863-9229
                                 --------------
                (Issuer's Telephone Number, Including Area Code)

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

         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 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:

         1,707,916 shares of common stock, par value $.01 per share, were issued
and outstanding as of April 22, 2002.

         Transitional Small Business Disclosure Format: Yes ___ No X
<PAGE>
                                 EBANK.COM, INC.
                           CONSOLIDATED BALANCE SHEETS

                                     ASSETS

<TABLE>
<CAPTION>
                                                                                March 31,       December 31,
                                                                                  2002              2001
                                                                                  ----              ----
                                                                              (Unaudited)         (Audited)
<S>                                                                           <C>               <C>
Cash and due from banks                                                       $    913,786      $    630,811
Interest bearing deposits in banks                                                 322,132            73,624
Federal funds sold                                                               2,725,000         3,601,000
Securities held-to-maturity, fair value of $12,331,307                          12,927,082        12,927,505
Other Securities                                                                   510,000           510,000
Loans, net of allowance for loan losses of $960,000 and                         74,183,634        74,825,784
     $838,650, respectively
Premises and equipment, net                                                      1,244,829         1,420,066
Accrued interest receivable                                                        801,241           639,209
Goodwill                                                                           941,250                 0
Other assets                                                                     1,316,370         1,629,084
                                                                              ------------      ------------
         Total assets                                                         $ 95,885,324      $ 96,257,083
                                                                              ============      ============

                      LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits                                                                      $ 78,420,032      $ 79,122,111
Accrued interest payable                                                           183,882           203,985
Other borrowings                                                                 9,342,182         9,361,980
Other liabilities                                                                  586,399           167,997
                                                                              ------------      ------------
         Total liabilities                                                      88,532,495        88,856,073
                                                                              ------------      ------------

SHAREHOLDERS' EQUITY
Series A preferred stock, $.01 par value, 8% cumulative, convertible into           24,100            23,900
     one share of common stock; 10,000,000 shares authorized;
     2,410,000 and 2,390,000 issued and outstanding at
     March 31, 2002 and December 31, 2001, respectively;
     $41,506 and $413,270 accumulated undeclared dividends at
     March 31, 2002 and December 31, 2001, respectively

Series B-1 preferred, 9% convertible into one share of common                           --                --
     stock; no par value; 76,792 shares authorized, none issued

Series B-2 preferred, 9% convertible into one share of common                           --                --
     stock; no par value; 76,792 shares authorized, none issued

Common stock, $.01 par value, 10,000,000 shares authorized, 1,707,916               17,080            14,693
     and 1,469,250 shares issued and outstanding
     at March 31, 2002 and December 31, 2001, respectively
     Capital surplus                                                            19,649,609        19,060,376
     Accumulated deficit                                                       (12,247,960)      (11,607,959)
     Accumulated other comprehensive loss                                          (90,000)          (90,000)
                                                                              ------------      ------------
         Total shareholders' equity                                              7,352,829         7,401,010
                                                                              ------------      ------------

         Total liabilities and shareholders' equity                           $ 95,885,324      $ 96,257,083
                                                                              ============      ============
</TABLE>

              The accompanying notes are an integral part of these
                       consolidated financial statements


                                       2
<PAGE>
                                 EBANK.COM, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                        For the three months ended
                                                               March 31,
                                                               ---------
                                                        2002                2001
                                                        ----                ----
<S>                                                  <C>                 <C>
Interest income:
     Loans, including fees                           $ 1,426,400         $ 1,754,540

     Investment securities:
         U.S. Government agencies and
         corporations                                    197,745                  --
     Other investments                                     7,031               1,295
     Federal funds sold                                    7,440              26,915
                                                     -----------         -----------
     Total interest income                             1,638,616           1,782,750
                                                     -----------         -----------

Interest expense
     Interest bearing demand and money market            168,295             176,077
     Savings                                                 897                 514
     Time deposits of $100,000 or more                   137,026             203,687
     Other time deposits                                 356,229             610,848
     Other borrowings                                     88,287              34,787
                                                     -----------         -----------
     Total interest expense                              750,734           1,025,913
                                                     -----------         -----------
Net interest income                                      887,882             756,837
Provision for possible loan losses                       108,719
                                                     -----------         -----------
Interest income after provision
     for possible loan losses                            779,163             756,837
                                                     -----------         -----------
Other income                                             226,714             149,868
                                                     -----------         -----------

Other expense
     Salaries and other compensation                     543,362             465,445
     Employee benefits                                    82,555             114,563
     Net occupancy and equipment expense                 352,637             314,862
     Professional and other outside services              79,777            (116,291)
     Other expense                                        95,726              80,211
                                                     -----------         -----------
         Total other expenses                          1,154,057             858,790
                                                     -----------         -----------

(Loss) Income before income tax benefit
Income tax                                                    --                  --
                                                     -----------         -----------
     Net (loss) income                                  (148,180)             47,915
                                                     ===========         ===========

Basic and diluted (loss) per common share                   (.17)               (.01)
                                                     ===========         ===========
</TABLE>

              The accompanying notes are an integral part of these
                       consolidated financial statements.


                                       3
<PAGE>
                                 EBANK.COM, INC.
             CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                          For the three months ended
                                                  March 31,
                                                  ---------
                                            2002              2001
                                            ----              ----
<S>                                       <C>               <C>
Net (loss) income:
                                          $(148,180)        $  47,915
Other comprehensive loss:
     Unrealized loss on securities
     available for sale                          --                --
Comprehensive (loss) / income             $(148,180)        $  47,915
                                          ==========        =========
</TABLE>

              The accompanying notes are an integral part of these
                       consolidated financial statements.


                                       4
<PAGE>
                                 EBANK.COM, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                    For the three months ended
                                                                             March 31,
                                                                             ---------
                                                                     2002                 2001
                                                                     ----                 ----
<S>                                                               <C>                 <C>
Cash flows from operating activities:
     Net (loss) income                                            $  (148,180)        $    47,915
     Adjustment to reconcile net (loss) income
         to net cash used in operating activities:
     Net accretion of investment securities                               423                  --
     Depreciation expense                                             175,237             167,142
     Provision for loan losses                                        108,719                  --
     Gain on sale of other real estate owned                               --            (120,764)
     (Decrease) in deferred loan fees and costs                        (1,674)                 --
     (Increase) decrease in other assets                             (119,036)             26,938
     (Increase) decrease in accrued interest receivable              (162,032)             34,194
     (Decrease) in accrued interest payable                           (20,103)            (17,421)
     (Decrease) in other liabilities                                  (91,099)           (463,394)
                                                                  ------------        -----------
         Net cash used in operating activities                       (257,745)           (325,390)
                                                                  ------------        -----------

Cash flows from investing activities:
     Purchase of other securities                                          --             (25,900)
     Loan repaid (originated), net of principal repayments            535,105          (1,200,291)
     Net proceeds for sale of other real estate owned                      --             734,998
     Refund of equipment cost                                              --              22,500
     Purchases of fixed assets                                             --             (13,695)
                                                                  -----------         ------------
         Net cash provided (used) by investing activities             535,105            (482,388)
                                                                  ------------        -----------

Cash flows from financing activities:
     Net proceeds from the sale of preferred stock                    100,000           1,064,690
     Loan principal repayments                                        (19,798)         (1,018,055)
     Net (decrease) increase in deposits                             (702,079)          2,053,067
                                                                  ------------        -----------
         Net cash (used) provided by financing activities            (621,877)          2,099,702
                                                                  ------------        -----------

Net (decrease) increase in cash and cash equivalents                 (344,517)          1,291,924

Cash and Cash Equivalents:
     Beginning of period                                            4,305,435           5,504,756
                                                                  ------------        -----------
     End of period                                                $ 3,960,918         $ 6,796,680
                                                                  ============        ===========
</TABLE>

              The accompanying notes are an integral part of these
                       consolidated financial statements.


                                       5
<PAGE>
                                 EBANK.COM, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)

NOTE 1 -- BASIS OF PRESENTATION

         The accompanying unaudited consolidated financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions to Form 10-QSB and Item 310 (b)
of Regulation S-B. 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,
2002 are not necessarily indicative of the results that may be expected for the
year ending December 31, 2002. For further information, refer to our
consolidated financial statements and footnotes included in our annual report on
Form 10-KSB.

         ebank.com, Inc. (formerly known as Southeastern Commerce Holding
Company) provides a full range of banking and bank-related services to
individual and corporate customers through its wholly owned bank subsidiary
ebank, located in north Atlanta, Georgia and its wholly owned subsidiary
Peachtree Capital Corporation also located in Atlanta, Georgia. Shortly after
the opening of the bank subsidiary, plans were developed to offer Internet
banking services, and regulatory approval for such services was obtained in
December 1998. Effective April 20, 1999, the corporate name was changed to
"ebank.com, Inc." and the Internet domain name "ebank.com" was acquired.
Internet banking services began on June 30, 1999. ebank.com, Inc. and its
subsidiaries are subject to intense competition for all banking services,
including Internet banking, from other financial institutions and nonbank
financial service companies.

         ebank.com, Inc. was incorporated under the laws of the State of Georgia
on August 22, 1997 to operate as a unitary thrift holding company under the
supervision of the Office of Thrift Supervision. ebank began as a general
banking business on August 17, 1998, as a wholly owned subsidiary of the
company. The consolidated financial statements include the accounts of the
company and its wholly owned subsidiaries, the bank and Peachtree Capital
Corporation, collectively known as the "Company." All significant intercompany
accounts and transactions have been eliminated in consolidation.


                                       6
<PAGE>
NOTE 2 -- LOSSES PER COMMON SHARE

         Presented below is a summary of the components used to calculate basic
         and diluted losses per common share.

<TABLE>
<CAPTION>
                                                                   For the three months ended
                                                                           March 31,
                                                                           ---------
                                                                   2002                2001
                                                                   ----                ----
<S>                                                             <C>                 <C>
Basic Losses Per Common Share:
    Weighted average common shares outstanding                    1,523,210           1,469,250
                                                                ===========         ===========
    Net (loss) income                                           $  (148,180)        $    47,915
    Preferred stock dividend                                       (115,578)            (63,289)
                                                                -----------         -----------
    Net loss attributable to common stockholders                $  (263,758)        $   (15,374)
                                                                ===========         ===========


    Basic losses per common share                               $      (.17)        $      (.01)
                                                                ===========         ===========

Diluted Losses Per Common Share:
    Weighted average common shares outstanding                    1,523,210           1,469,250
    Net effect of the assumed exercise of stock
        options and warrants based on the treasury stock
        method using average market prices for the year                  --                  --
    Net effect of convertible preferred stock                            --                  --
                                                                -----------         -----------
    Total weighted average common shares and
         common stock equivalents outstanding                     1,523,210           1,469,250

Net loss attributable to common stockholders                    $  (263,758)        $   (15,374)
                                                                ===========         ===========

Diluted losses per common share                                 $      (.17)        $      (.01)
                                                                ===========         ===========
</TABLE>

NOTE 3 -- NEW ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS

In July 2001, the Financial Accounting Standards Board issued SFAS No. 141,
Business Combinations and SFAS No. 142, Goodwill and Other Intangible Assets.
SFAS No. 141 requires that the purchase method of accounting be used for all
business combinations initiated after June 30, 2001. SFAS No. 141 also specifies
criteria that intangible assets acquired in a purchase method business
combination must meet certain criteria to be recognized and reported apart from
goodwill. SFAS No. 142 requires that goodwill and intangible assets with
indefinite useful lives no longer be amortized, but instead be tested for
impairment at least annually in accordance with the provisions of SFAS No. 142.
SFAS No. 142 also requires that intangible assets with estimable useful lives be
amortized over their respective useful lives to their estimated residual values,
and reviewed for impairment. SFAS No. 141 was effective July 1, 2001 and the
provisions of SFAS No. 142 were effective January 1, 2002.

On January 2, 2002 the Company acquired Peachtree Capital Corporation, a
financial planning and securities brokerage firm located in Atlanta, Georgia.
The results of operations for Peachtree Capital Corporation are included in the
consolidated statement of operations of the Company for the period from January
2, 2002 to March 31, 2002. In exchange for all of the outstanding stock of
Peachtree Capital Corporation, the Company paid $400,000 in cash and agreed to
issue 76,792 shares of the Company's Series B-1 preferred stock and 76,792
shares of the Company's Series B-2 preferred stock. The preferred stock has been
valued at $450,000. The total $850,000 purchase price was determined based upon
arm's length negotiations. A condensed balance sheet of Peachtree Capital
Corporation disclosing the amount assigned to each major asset and liability
caption at the acquisition date follows:


                                       7

<PAGE>
<Table>
                  <S>                        <C>
                  Cash                       $15,000
                  Receivables                $     0
                  Other liabilities          $     0
</Table>

         The preferred stock will pay a 9% annual dividend payable
semi-annually. If the Company is unable to pay the dividends in cash, the
Company will issue common stock in lieu of the cash dividend. Each share of the
Series B-1 preferred stock will automatically convert into one share of common
stock on the first anniversary date of the agreement, subject to adjustment on
Peachtree Capital Corporation attaining certain performance goals. Each share of
Series B-2 preferred stock will automatically convert into one share of common
stock on the second anniversary date of the agreement, also subject to
adjustment based on Peachtree Capital attaining certain performance goals.
Common stock issued in excess of the one for one conversion factor will be
recorded as an expense in the consolidated statement of operations when the
conversion factor is determinable. There were no purchased research and
development costs acquired or written off in the acquisition.

All purchase price allocations in the acquisition have been finalized. The
amount of the purchase price in excess of the book value of the net assets
acquired of Peachtree Capital Corporation has been allocated to goodwill. The
aggregate amount of goodwill acquired for the period ended March 31, 2002
amounted to $941,250. No goodwill impairment losses have been recognized for
the period ended March 31, 2002. No amount of the goodwill is expected to be
deductible for income tax purposes.

NOTE 4 -- OTHER BORROWING

Other borrowings consist of the following:

<TABLE>
<CAPTION>
                                                                             March 31,       December 31,
                                                                               2002              2001
                                                                               ----              ----
<S>                                                                         <C>              <C>
Advance from Federal Home Loan Bank, interest payable quarterly at
    3.91% until November 7, 2006 when the rate may be converted to
    the three-month LIBOR, matures November 7, 2011,
    collateralized by first mortgage loans                                  $4,000,000        $4,000,000
Advance from Federal Home Loan Bank, interest payable quarterly
    at 3.51%, matures December 1, 2003, collateralized by securities         5,000,000         5,000,000
Note payable from bank, interest payable quarterly at prime minus
    0.50% (4.25% at December 31, 2001), due December 28, 2003,
    collateralized by common stock of the Bank                                 250,000           250,000
Capitalized lease obligation, monthly payments of $7,390
    including imputed interest at 9%, collateralized by equipment               92,182           111,980
                                                                            ----------        ----------
                                                                            $9,342,182        $9,361,980
                                                                            ==========        ==========
</TABLE>

Aggregate maturities required on other borrowings at March 31, 2002 are due in
future years as follows:

<TABLE>
<S>         <C>
2002        $   83,784
2003         5,258,398
2011         4,000,000
            ----------
            $9,342,182
            ==========
</TABLE>

NOTE 5 -- PREFERRED STOCK

         In the third and fourth quarters of 2000 and the first and second
quarters of 2001, the Company offered, through a private placement memorandum,
to sell up to 500,000 "capital units" at a price of $10.00 per unit. Each
capital unit consists of four shares of 8% cumulative preferred stock and a
warrant to purchase two shares of common stock for $3.50 per share. Each share
of preferred stock is convertible into one share of common stock. The preferred
stock is convertible at any time at the option of the holder. In addition, the
Company can require conversion of the preferred stock if the closing price of
its common stock equals or exceeds $10.00 per share for fifteen consecutive
trading days. At the Company's election, dividends on the preferred stock may be
paid in cash or in additional shares of common stock.


                                       8
<PAGE>
Currently, the Company can pay no cash dividends. The warrants terminate on the
earlier of five years or thirty days after the Company notifies the holder that
the closing price of the Company's common stock has equaled or exceeded $5.00
per share for twenty consecutive trading days.

         In June 2001, the Company offered, through a private placement
memorandum, to sell up to 100,000 "capital units" at a price of $10.00 per unit.
Each capital unit consists of four shares of 8% cumulative preferred stock and a
warrant to purchase two shares of common stock for $4.00 per share. Each share
of preferred stock is convertible into one share of common stock. The preferred
stock is convertible at any time at the option of the holder. In addition, the
Company can require conversion for the preferred stock if the closing price of
its common stock equals or exceeds $10.00 per share for fifteen consecutive
trading days. At the Company's election, dividends on the preferred stock may be
paid in cash or in additional shares of common stock. Currently the Company can
pay no cash dividends. The warrants terminate on the earlier of five years or
thirty days after the Company notifies the holder that the closing price of the
Company's common stock has equaled or exceeded $5.50 per share for twenty
consecutive trading days.

         In January 2002, the Company offered, through a private placement
memorandum, to sell 10,000 "capital units" at a price of $10.00 per unit. Each
capital unit consists of four shares of 8% cumulative preferred stock and a
warrant to purchase two shares of common stock for $4.00 per share. Each share
of preferred stock is convertible into one share of common stock. The preferred
stock is convertible at any time at the option of the holder. In addition, the
Company can require conversion for the preferred stock if the closing price of
its common stock equals or exceeds $10.00 per share for fifteen consecutive
trading days. At the Company's election, dividends on the preferred stock may be
paid in cash or in additional shares of common stock. Currently the Company can
pay no cash dividends. The warrants terminate on the earlier of five years or
thirty days after the Company notifies the holder that the closing price of the
Company's common stock has equaled or exceeded $5.50 per share for twenty
consecutive trading days.

         In connection with the sale of the preferred stock, the Company paid
its underwriter (a) a commission equal to 10% of the sales price for each unit
sold by the underwriter (with the exception of units sold to directors and
officers of the Company or units sold to investors located by the Company's
directors and officers who purchase at least 50,000 units) plus (b) a $25,000
fee after 50,000 units were sold by the underwriter, plus (c) a warrant to
purchase 200,000 shares of the Company's common stock at a price of $4.00 per
share, exercisable for a period of five years.


         A summary of the preferred stock issued as of March 31, 2002 follows:

<TABLE>
<CAPTION>
<S>                                                                                        <C>
Capital units sold                                                                             602,500
                                                                                           ===========

Gross proceeds from offering                                                               $ 6,075,000

Offering costs including underwriter commission                                               (612,796)
                                                                                           -----------

Net proceeds received from offering                                                        $ 5,462,204
                                                                                           ===========

Preferred shares issued                                                                      2,430,000
                                                                                           ===========
Preferred shares converted to common                                                            20,000
                                                                                           ===========
Preferred shares issued and outstanding                                                      2,410,000
                                                                                           ===========

Accumulated undeclared dividends                                                           $    41,506
                                                                                           ===========

Common stock available for purchase under warrants issued to preferred shareholders          1,205,000

Common stock available for purchase under warrants issued to underwriter                       200,000
                                                                                           -----------

Total common stock available for purchase under preferred stock warrants                     1,405,000
                                                                                           ===========
</TABLE>


                                       9
<PAGE>
PART I -- FINANCIAL INFORMATION

Item 2.  Management's Discussion and Analysis or Plan of Operation.

         This Report contains statements which constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933 and
the Securities Exchange Act of 1934. These statements are based on many
assumptions and estimates and are not guarantees of future performance. Our
actual results may differ materially from those projected in any forward-looking
statements, as they will depend on many factors about which we are unsure,
including many factors which are beyond our control. The words "may," "would,"
"could," "will," "expect," "anticipate," "believe," "intend," "plan," and
"estimate," as well as similar expressions, are meant to identify such
forward-looking statements. Other potential risks and uncertainties include, but
are not limited to:

         -        significant increases in competitive pressure in the banking
                  and financial services industries;

         -        changes in the interest rate environment which could reduce
                  anticipated or actual margins;

         -        changes in political conditions or the legislative or
                  regulatory environment;

         -        general economic conditions, either nationally or regionally
                  and especially in primary service area, becoming less
                  favorable than expected resulting in, among other things, a
                  deterioration in credit quality;

         -        changes occurring in business conditions and inflation;

         -        changes in technology;

         -        changes in monetary and tax policies;

         -        changes in the securities markets; and

         -        other risks and uncertainties detailed from time to time in
                  our filings with the Securities and Exchange Commission.

General

         ebank.com, Inc., a Georgia corporation, is the holding company for
ebank, a federal savings bank, and as of January 2, 2002, Peachtree Capital
Corporation, a Georgia corporation based in Atlanta which provides financial
planning and securities brokerage services. We provide banking and other
financial services to small business and retail customers through our offices in
Atlanta, Georgia and via the Internet. We have revised our business strategy to
emphasize our traditional banking business and to develop cost-effective
strategies utilizing the Internet as one of our delivery channels. We provide a
broad array of financial products and services to our small business and retail
customers, including checking accounts, money markets, CDs, ATM cards, home
equity loans, mortgage loans, commercial loans, credit cards, bill payment
services, and human resource services. In addition, as of January 2, 2002, we
began providing comprehensive investment services, including personal financial
planning; life, health and disability insurance; portfolio management; and
financial advisory services for entrepreneurs and small businesses through our
wholly owned subsidiary Peachtree Capital Corporation.

Financial Condition

         Total consolidated assets decreased by $371,759, or 0.4%, to
$95,885,324 during the three month period ended March 31, 2002. The decrease was
primarily related to a decrease in net deposits of approximately $702,000.


                                       10
<PAGE>
         At March 31, 2002, our assets consisted primarily of federal funds sold
of $2,725,000, securities held to maturity of $12,927,082, net loans of
$74,183,634, property at cost less accumulated depreciation of $1,244,829, other
real estate owned of $1,041,220 and goodwill of $941,250 associated with the
purchase of Peachtree Capital Corporation. Our liabilities at March 31, 2002
totaled $88,532,495, consisting of deposits of $78,420,032, accrued expenses and
other liabilities of $770,281, and other borrowings of $9,342,182. Our
shareholders' equity totaled $7,352,829 at March 31, 2002.

Results of Operations

         From the bank's opening date on August 17, 1998 through March 31, 2002,
the bank had attracted approximately $78 million in deposits and net loans of
$74 million. Net interest income, before provision for loan losses, for the
three-month period ending March 31, 2002 totaled $887,882, compared to net
interest income, before provision for loan losses, of $756,837 for the
three-month period ending March 31, 2001. This increase in net interest income
in the first quarter of 2002 over the first quarter of 2001 was primarily due to
a reduction in the cost of time deposits.

         Our provision for loan losses for the three months ended March 31, 2002
and 2001 was $108,719 and $0, respectively. Other income earned for the three
months ended March 31, 2002 and 2001 was $226,714 and $149,868, respectively.
Included in other income for the three months ended March 31, 2002 is $198,499
generated by Peachtree Capital Corporation. Income from Peachtree Capital
Corporation consists primarily of commissions earned on brokerage transactions
less clearing fees. Included in other income for the three months ended March
31, 2001 was a gain of $120,764 recognized on the sale of other real estate
owned.

         On an annualized basis, other income represents less than 0.24% of
total assets. This figure is relatively low because in order to attract new
banking relationships, the bank's fee structure and charges are low when
compared to other banks.

         Operating expenses for the three-month period ending March 31, 2002
totaled $1,154,057, including salaries and other compensation of $543,362,
employee benefits expenses of $82,555, occupancy and equipment expenses of
$352,637, professional and other outside services of $79,777, and other expenses
of $95,726. On an annualized basis, other expenses represent 4.81% of total
assets. Operating expenses for the three-month period ending March 31, 2001,
adjusted for the effect of favorable resolutions to vendor fee disputes of
$272,245, totaled $1,131,035.

         We had a net loss of $148,180 for the three-month period ended March
31, 2002, compared to a net income of $47,915 for the three-month period ended
March 31, 2001. After taking into account $115,578 in dividends on preferred
stock, we had a net loss of $(.17) per common share for the three-month period
ended March 31, 2002, compared to a net loss of $(.01) per common share for the
three-month period ended March 31, 2001.

Allowance for Loan Losses

         There are risks inherent in making all loans, including risks with
respect to the period of time over which loans may be repaid, risks resulting
from changes in economic and industry conditions, risks inherent in dealing with
individual borrowers, and, in the case of a collateralized loan, risks resulting
from uncertainties about the future value of the collateral. To address these
risks, we have developed policies and procedures to evaluate the overall quality
of our credit portfolio and the timely identification of potential problem
loans. We maintain an allowance for possible loan losses, which we establish
through charges in the form of a provision for loan losses. We charge loan
losses and credit recoveries directly to this allowance.

         We attempt to maintain the allowance at a level that will be adequate
to provide for potential losses in our loan portfolio. To maintain the allowance
at an adequate level, we periodically make


                                       11
<PAGE>
additions to the allowance by charging an expense to the provision for loan
losses on our statement of operations. We evaluate the allowance for loan losses
on an overall portfolio basis, as well as allocating the allowance to loan
categories. We consider a number of factors in determining the level of this
allowance, including our total amount of outstanding loans, our amount of past
due loans, our historic loan loss experience, general economic conditions, and
our assessment of potential losses. Our evaluation is inherently subjective as
it requires estimates that are susceptible to significant change. Our losses
will undoubtedly vary from our estimates, and there is a possibility that
charge-offs in future periods will exceed the allowance for loan losses as
estimated at any point in time.

         As of March 31, 2002 and December 31, 2001, the allowance was $960,000
and $838,650, respectively. The allowance for loan losses, as a percentage of
total gross loans, was 1.28% as of March 31, 2002, compared to 1.11% as of
December 31, 2001. As of March 31, 2002, we had two loans past due greater than
60 days totaling less than $20,000. We repossessed the collateral associated
with one delinquent auto loan totaling $39,000 during the quarter. We expect to
receive approximately $35,000 in net proceeds from the sale of the collateral.
There were no loans charged-off for the three-month period ending March 31,
2002.

Average Balances, Income and Expense, and Rates

         Net interest income represents the difference between interest received
on interest-earning assets and interest paid on interest-bearing liabilities.
The following represents, in a tabular form, the main components of
interest-earning assets and interest-bearing liabilities for the three months
ended March 31, 2002:

<TABLE>
<CAPTION>
         Interest                                      Interest
     Earning Assets/                Average             Income/             Yield/
   Bearing Liabilities              Balance              Cost                Cost
   -------------------              -------              ----                ----
<S>                               <C>                 <C>                   <C>
Federal funds sold                $ 1,993,499         $     7,440            1.49%
Investment securities              13,377,352             204,776            6.12%
Loans                              75,648,084           1,426,400            7.54%
                                  -----------         -----------            -----

         Total                    $91,018,885         $ 1,638,616            7.20%
                                  ===========         ===========            =====

Deposits                           78,263,255             662,447            3.39%
Other borrowings                    9,417,531              88,287            3.75%
                                  -----------         -----------            -----

         Total                    $87,680,786         $   750,734            3.42%
                                  ===========         ===========            =====

Net interest income/spread                            $   887,882            3.78%
                                                      ===========            =====

Net interest margin                                                          3.90%
                                                                             =====
</TABLE>

         The net interest margin for the first quarter of 2002 has decreased to
3.90% as compared to 4.08% for the first quarter of 2001. Net interest margin
increased to 3.90% during the first quarter of 2002 from 3.77% for the entire
year of 2001. As the prime rate decreased during 2001, the rates earned on our
variable rate loans has decreased as well. We were not able to reprice our
interest-bearing liabilities as quickly as variable loan rates decreased. Since
most of our deposits have matured and are repriced, we expect our net interest
margin to improve slightly in 2002.


                                       12
<PAGE>
Liquidity and Sources of Capital

         Liquidity is our ability to meet all deposit withdrawals immediately,
while also providing for the credit needs of customers. The March 31, 2002
financial statements evidence a satisfactory liquidity position as total cash,
cash equivalents, and federal funds sold amounted to approximately $3.0 million,
or 3.2% of total assets. Additionally, our ability to maintain and expand our
deposit base and borrowing capabilities are a source of liquidity. For the
three-month period ended March 31, 2002, total deposits decreased from $79.1
million to $78.4 million, representing an decrease of 0.9%. We will increase
deposits as required to fund new loan growth. We closely monitor and attempt to
maintain appropriate levels of interest-earning assets and interest-bearing
liabilities so that maturities of assets are such that adequate funds are
available to meet our customer withdrawals and loan demand.

         The bank maintains adequate levels of capitalization as measured by the
following capital ratios and the respective minimum capital requirements by the
Office of Thrift Supervision, the bank's primary regulator.

<TABLE>
<CAPTION>
                                                  Bank       Minimum
                                                 Capital    Regulatory
                                                  Ratio    Requirement
                                                  -----    -----------
<S>                                              <C>       <C>
Capital ratios at March 31, 2002
     Tier 1 capital                                9.20%       4.0%
     Tier 2 capital                                1.25%
         Total risk-based capital ratio           10.45%       8.0%

     Leverage ratio                                7.10%       4.0%
</TABLE>

         The Office of Thrift Supervision has established a 3.0% minimum
leverage ratio requirement. The leverage ratio is computed by dividing Tier 1
capital into average assets. For all except the highest rated banks, the minimum
leverage ratio should be 3.0% plus an additional cushion of at least 1 to 2
percent, depending upon risk profiles and other factors.

         We believe that, as of March 31, 2002, we meet all capital requirements
to which we are subject.

Liquidity And Rate Sensitivity

         Asset/liability management is the process by which we monitor and
control the mix and maturities of our assets and liabilities. The essential
purposes of asset/liability management are to ensure adequate liquidity and to
maintain an appropriate balance between interest sensitive assets and
liabilities to minimize potentially adverse impacts on earnings from changes in
market interest rates.

         We measure interest rate sensitivity as the difference between amounts
of interest-earning assets and interest-bearing liabilities, which either
reprice or mature within a given period of time. The difference, or the interest
rate repricing "gap," provides an indication of the extent to which an
institution's interest rate spread will be affected by changes in interest
rates. A gap is considered positive when the amount of interest-rate sensitive
assets exceeds the amount of interest-sensitive liabilities, and is considered
negative when the amount of interest-rate sensitive liabilities exceeds the
amount of interest-sensitive assets. Generally, during a period of rising
interest rates, a negative gap within shorter maturities would adversely affect
net interest income, while a positive gap within shorter maturities would result
in an increase in net interest income, and during a period of falling interest
rates, a negative gap within shorter maturities would result in an increase in
net interest income while a positive gap within shorter maturities would have
the opposite effect.


                                       13
<PAGE>
         The table below shows the interest rate sensitivity of our assets and
liabilities as of March 31, 2002:

<TABLE>
<CAPTION>
                                                     After three
                                          Within      but within    After one        After
                                          Three         twelve      But within       five
                                          Months        months      five years       Years        Total
                                          ------        ------      ----------       -----        -----
                                                                (Dollars in Thousands)
<S>                                      <C>         <C>            <C>            <C>           <C>
Interest-earning assets:
     Interest Earning Deposits           $    322      $     --      $     --      $     --      $    322
     Loans                                 36,200         5,345        15,243        18,356        75,144
     Investment Securities                    450            --            --        12,928        13,378
     Federal Funds Sold                     2,725            --            --            --         2,725
                                         --------      --------      --------      --------      --------
Total Earning Assets                     $ 39,697      $  5,345      $ 15,243      $ 31,284      $ 91,569
                                         ========      ========      ========      ========      ========

Interest-bearing liabilities:
     Money Market and NOW                $ 29,040      $     --      $     --      $     --      $ 29,040
     Savings Deposits                         237            --            --            --           237
     Time Deposits                         10,153        22,673        11,800                      44,626
     Other Liabilities                         20            64         5,258         4,000         9,342
                                         --------      --------      --------      --------      --------
Total interest-bearing liabilities       $ 39,450      $ 22,737      $ 17,058      $  4,000      $ 83,245

Interest-sensitivity gap                 $    247      $(17,392)     $ (1,815)     $ 27,284      $  8,324
                                         ========      ========      ========      ========      ========

Cumulative interest-sensitivity gap      $    247      $(17,145)     $(18,960)     $  8,324      $  8,324
                                         ========      ========      ========      ========      ========

Ratio of interest-sensitivity gap to
total earning assets                         0.27%       -18.99%        -1.98%        29.80%         9.09%

Ratio of cumulative interest-
sensitivity gap to total earning
     assets                                  0.27%       -18.72%       -20.71%         9.09%
</TABLE>

         As evidenced by the table above, we are cumulatively
liability-sensitive at one year. However, our gap analysis is not a precise
indicator of its interest sensitivity position. The analysis presents only a
static view of the timing of maturities and repricing opportunities, without
taking into consideration that changes in interest rates do not affect all
assets and liabilities equally. Net interest income may be impacted by other
significant factors in a given interest rate environment, including changes in
the volume and mix of earning assets and interest-bearing liabilities.


                                       14
<PAGE>
Loan Portfolio

         Because loans typically provide higher interest yields than do other
types of earning assets, our intent is to channel a substantial percentage of
our earning assets into the loans category. Average gross loans were
approximately $75,648,084 for the three-month period ended March 31, 2002. Total
gross loans outstanding at March 31, 2002 were $75,259,303.

         The following table summarizes the composition of the loan portfolio at
March 31, 2002:

<TABLE>
<CAPTION>
                                                                  Percent
                                             Amount              of total
                                             ------              --------
<S>                                     <C>                      <C>
 Commercial                             $    13,406,081            17.81%
 Real estate - individual                    28,980,763            38.51%
 Real estate - commercial                    28,128,493            37.38%
 Installment loans to individuals             4,743,966             6.30%
                                        ---------------           ------
 Total loans                                 75,259,303           100.00%
                                                                  ======

 Less:    Net deferred loan fees              (115,669)
          Allowance for loan loss             (960,000)
                                        ---------------
 Total net loans                        $    74,183,634
                                        ===============
</TABLE>

         The principal components of our loan portfolio at March 31, 2002 were
mortgage loans and commercial loans, which represented 93.70% of the portfolio.
We will attempt to maintain a relatively diversified loan portfolio to help
reduce the risk inherent in concentration of collateral.


REGULATORY MATTERS

         From time to time, various bills are introduced in the United States
Congress with respect to the regulation of financial institutions. Certain of
these proposals, if adopted, could significantly change the regulation of banks
and the financial services industry. We cannot predict whether any of these
proposals will be adopted or, if adopted, how these proposals would affect us.


                                       15
<PAGE>
                                     PART II
                                OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

         In late May 1999, we received a notice from Huntington Bancshares
Incorporated asserting that it has superior trademark rights in the name
"ebank." In 1996, Huntington Bancshares Incorporated obtained a federal
trademark registration for the term "E-BANK." Based on our review of materials
Huntington sent us describing its use of the term "E-BANK," we believe that
Huntington's use of the term is limited to a description of a system platform,
which Huntington at one time offered or planned to offer on a wholesale basis to
other banks. We do not believe that Huntington has used the term in connection
with offering financial services to the public. Consequently, we do not believe
that our ownership rights in the service mark "ebank" and our use of the mark to
provide financial services on the Internet and elsewhere infringe upon
Huntington's federal trademark. In order to clarify the situation, on June 30,
1999 we filed an action in the United States District Court for the Northern
District of Georgia, asking for a declaratory judgment that we have the right to
use "ebank.com" as a trademark for Internet banking services despite
Huntington's registration. Rather than answering our complaint, Huntington filed
suit against us on August 10, 1999 in the United States District Court for the
Eastern District of Ohio, alleging trademark infringement over our use of the
name "ebank.com." In the Ohio action, Huntington sought an injunction against
our use of the name "ebank.com" and "ebank," as well as treble damages and all
profits realized by us by reason of our use of the name "ebank." Huntington
submitted a motion to dismiss the Georgia action, and we submitted a motion to
dismiss the Ohio action, in each case on the grounds of lack of jurisdiction. On
March 29, 2000, the district court in the Georgia action granted Huntington's
motion to dismiss on the grounds that the court did not have jurisdiction over
Huntington. On September 27, 2000, the district court in the Ohio action granted
our motion to dismiss on the grounds of lack of jurisdiction.

         On July 20, 2001, e-BANK, LLC, a Huntington affiliate, filed claims
against us in the United States District Court for the Northern District of
Georgia, Atlanta Division. These currently pending claims are substantially
similar to the claims that were dismissed in the Ohio action. We have filed a
motion to dismiss, which has been opposed. We intend to vigorously defend our
rights to the name "ebank.com."

         There are no other material legal proceedings to which we or any of our
properties are subject.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

         In January 2002, we issued 10,000 units of securities in a private
offering solely to one accredited investor pursuant to an exemption from
registration contained in Section 4(2) of the Securities Act and Rule 506
promulgated under the Securities Act. Each unit issued in this private offering
consisted of four shares of 8% cumulative convertible Series A preferred stock
and a warrant to purchase two shares of common stock for $4.00 per share. Each
share of Series A preferred stock issued in this offering is convertible at any
time at the option of the holder into one share of common stock. In addition, we
may require conversion of the Series A preferred stock when the closing price of
our common stock equals or exceeds $10.00 per share for 15 consecutive trading
days. We may elect to pay dividends on the Series A preferred stock either in
cash or in additional shares of our common stock. The warrants issued in this
offering will terminate on the earlier of five years or 30 days after we notify
the holder that the closing price of our common stock has equaled or exceeded
$5.50 per share for 20 consecutive days. We raised net proceeds of $100,000 and
paid no commissions or other stock offering costs in this offering.

         The units sold in this private offering are subject to restrictions on
transferability and resale, and may not be transferred or resold except as
permitted under the Securities Act and applicable state securities laws.
However, we agreed to add the common stock underlying the units issued in this
offering in the first post-effective amendment to a shelf registration statement
we previously filed on behalf of investors in two other private offerings. We
filed an initial shelf registration statement with the Securities


                                       16
<PAGE>
and Exchange Commission on August 3, 2001. We filed a pre-effective amendment to
the shelf registration statement on December 3, 2001 and the amended shelf
registration statement was declared effective by the Securities and Exchange
Commission on December 6, 2001. As of May 10, 2002, we have not filed a
post-effective amendment to the shelf registration statement.

         As part of the consideration for the purchase of all of the outstanding
shares of Peachtree Capital Corporation, we agreed to issue 76,792 shares of 9%
convertible Series B-1 preferred stock and 76,792 shares of 9% convertible
Series B-2 preferred stock in January 2002 to the current shareholders of
Peachtree Capital Corporation, Caroline O. and Steven Harless. The total value
of the Series B-1 and Series B-2 preferred stock was $450,000. Each share of the
Series B-1 and Series B-2 preferred stock will pay a 9% annual dividend, payable
semi-annually. If we are unable to pay the dividends in cash, we must issue
common stock in lieu of the cash dividend. Each share of the Series B-1
preferred stock will automatically convert into one share of common stock in
March 2003, subject to adjustments if Peachtree Capital Corporation does not
meet certain performance goals or if the price of our common stock drops. Each
share of the Series B-2 preferred stock will automatically convert into one
share of common stock in March 2004, subject to adjustments if Peachtree Capital
Corporation does not meet certain performance goals or if the price of our
common stock drops. In connection with the Peachtree Capital Corporation
transaction, we agreed to issue to Attkisson, Carter & Akers 20,307 shares of
our common stock as a finder's fee equal to 7% of the purchase price of the
acquisition.

         The Series B-1 and Series B-2 preferred stock were offered solely to
accredited investors pursuant to an exemption from registration contained in
Section 4(2) of the Securities Act and Rule 506 promulgated under the Securities
Act. The Series B-1 and Series B-2 preferred stock are subject to restrictions
on transferability and resale, and may not be transferred or resold except as
permitted under the Securities Act and applicable state securities laws.
However, we agreed to either amend any outstanding shelf registration statement,
or file a shelf registration statement, on behalf of the holders of the Series
B-1 and Series B-2 preferred stock no later than January 2003 to assist in the
disposition of the common stock received upon conversion of the Series B-1 and
Series B-2 preferred stock.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

         None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         None.

ITEM 5. OTHER INFORMATION.

         None.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

(a)      Exhibits

         10.1     Employment Agreement between Wayne W. Byers and ebank dated
                  January 2, 2002.

(b)      Reports on Form 8-K -- No reports on Form 8-K were filed during the
         quarter ended March 31, 2002.


                                       17
<PAGE>
                                   SIGNATURES

         In accordance with Section 13 or 15(d) of the Securities Exchange Act
of 1934, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                    ebank.com, Inc.



Date:  May 14, 2002                 By:  /s/ James L. Box
      --------------                    --------------------------------------
                                         James L. Box
                                         President and Chief Executive Officer


                                    By:  /s/ Wayne W. Byers
                                         -------------------------------------
                                         Wayne W. Byers
                                         Chief Financial Officer


                                       18