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  September 30, 2003
                                     -------------------

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

                          Commission File No. 000-24043


                         ebank Financial Services, 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 190, Atlanta, Georgia 30339
            ---------------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (770) 863-9225
                                ---------------
                (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:

     2,074,723 shares of common stock, par value $.01 per share, were issued and
outstanding  as  of  October  27,  2003.

     Transitional Small Business Disclosure Format: Yes     No  X
                                                        ---    ---


<PAGE>
<TABLE>
<CAPTION>
                                      EBANK FINANCIAL SERVICES, INC.
                                  CONDENSED CONSOLIDATED BALANCE SHEETS

                                                 ASSETS

                                                                        September 30,    December 31,
                                                                            2003             2002
                                                                       ---------------  --------------
                                                                         (Unaudited)      (Audited)
<S>                                                                    <C>              <C>

Cash and due from banks                                                $      909,806   $     891,528
Interest-bearing deposits in banks                                             75,087         627,912
Federal funds sold                                                            320,000       5,114,000
                                                                       ---------------  --------------
            Cash and cash equivalents                                       1,304,893       6,633,440
Securities available for sale                                              22,714,797               -
Securities held-to-maturity, fair value $13,681,193                                 -      13,638,045
Other securities                                                              450,000         510,000
Mortgage loans held for sale                                                        -       7,820,139
Loans, net of allowance for loan losses of $1,435,330 and
    $963,301, respectively                                                 78,299,194      69,561,583
Premises and equipment, net                                                   622,376         630,627
Accrued interest receivable and other assets                                2,030,673       2,623,476
                                                                       ---------------  --------------
             Total assets                                              $  105,421,933   $ 101,417,310
                                                                       ===============  ==============

                                  LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits                                                               $   82,826,464   $  84,578,187
Repurchase agreements                                                       6,000,000               -
Other borrowings                                                            9,741,000       9,280,053
Accrued interest payable and other liabilities                                333,270       1,028,850
                                                                       ---------------  --------------
             Total liabilities                                             98,900,734      94,887,090
                                                                       ---------------  --------------

Shareholders' Equity:
Series A preferred stock, $.01 par value, 8% cumulative, convertible
    into one share of common stock; 10,000,000 shares authorized;
    2,410,000 issued and outstanding; accumulated undeclared
    dividends of $282,597 and $404,088 (liquidation preference of
    $ 6,025,000)                                                               24,100          24,100
Common stock, $.01 par value, 10,000,000 shares authorized,
    2,060,639 and 1,728,223 shares issued and outstanding                      20,607          17,282
Capital surplus                                                            19,173,149      19,176,474
Accumulated deficit                                                       (12,492,143)    (12,597,636)
Accumulated other comprehensive loss                                         (204,514)        (90,000)
                                                                       ---------------  --------------
             Total shareholders' equity                                     6,521,199       6,530,220
                                                                       ---------------  --------------

             Total liabilities and shareholders' equity                $  105,421,933   $ 101,417,310
                                                                       ===============  ==============

The accompanying notes are an integral part of these condensed consolidated financial statements
</TABLE>


                                        2
<PAGE>
<TABLE>
<CAPTION>
                                    EBANK FINANCIAL SERVICES, INC.
                          CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
                                             (UNAUDITED)

                                                         For the three            For the nine
                                                         months ended             months ended
                                                    -----------------------  ------------------------
                                                         September 30,            September 30,
                                                    -----------------------  ------------------------
Interest income:                                       2003        2002         2003         2002
                                                    ----------  -----------  -----------  -----------
<S>                                                 <C>         <C>          <C>          <C>
          Loans, including fees. . . . . . . . . .  $1,352,852  $1,401,486   $3,988,915   $4,201,296
          Interest-bearing deposits. . . . . . . .         336       3,058        5,232        5,330
          Investment securities. . . . . . . . . .     261,873     169,862      698,051      569,795
          Other investments. . . . . . . . . . . .       4,254       5,956       14,085       18,308
          Federal funds sold . . . . . . . . . . .       7,054       7,181       30,537       21,229
                                                    ----------  -----------  -----------  -----------
               Total interest income . . . . . . .   1,626,369   1,587,543    4,736,820    4,815,958
                                                    ----------  -----------  -----------  -----------
Interest expense:
          Deposits . . . . . . . . . . . . . . . .     505,524     545,636    1,545,375    1,778,092
          Other borrowings . . . . . . . . . . . .      98,545      88,512      284,170      264,697
                                                    ----------  -----------  -----------  -----------
               Total interest expense. . . . . . .     604,069     634,148    1,829,545    2,042,789
                                                    ----------  -----------  -----------  -----------
Net interest income. . . . . . . . . . . . . . . .   1,022,300     953,395    2,907,275    2,773,169
Provision for loan losses. . . . . . . . . . . . .           0           0      689,000      108,719
                                                    ----------  -----------  -----------  -----------
Net interest income after provision
          for loan losses. . . . . . . . . . . . .   1,022,300     953,395    2,218,275    2,664,450
                                                    ----------  -----------  -----------  -----------
Other income:
          Gain on sale of loans held for sale (MD)           -           -      752,715            -
          Gain on sale of loans held for sale (GA)       1,658           -       10,209            -
          Gain on sale of investments. . . . . . .      20,407           -      265,281            -
          Gain on sale of real estate owned. . . .      18,634           -       18,634            -
          Recovery of fraud loss . . . . . . . . .      18,000           -       18,000            -
          Deposit fees . . . . . . . . . . . . . .      24,212      20,708       70,293       65,057
          Brokerage fee income (Peachtree Capital)           -     206,266            -      662,353
          Miscellaneous. . . . . . . . . . . . . .         751       1,660       18,586        1,928
                                                    ----------  -----------  -----------  -----------
               Total other income. . . . . . . . .      86,518     228,634    1,153,718      729,338
                                                    ----------  -----------  -----------  -----------
Other expense:
          Salaries and other compensation. . . . .     444,378     284,550    1,788,093    1,695,620
          Employee benefits. . . . . . . . . . . .      83,702      83,997      264,109      243,212
          Net occupancy and equipment expense. . .     185,159     345,758      542,929    1,050,277
          Professional and other outside services.     116,788     150,242      358,638      400,051
          Other expense. . . . . . . . . . . . . .     130,620     139,707      312,731      403,507
                                                    ----------  -----------  -----------  -----------
               Total other expenses. . . . . . . .     960,647   1,304,254    3,266,500    3,792,667
                                                    ----------  -----------  -----------  -----------
               Net income (loss) . . . . . . . . .  $  148,171  $ (122,225)  $  105,493   $ (398,879)
                                                    ==========  ===========  ===========  ===========
Basic and diluted income (loss) per common share .  $      .01  $     (.15)  $     (.13)  $     (.48)
                                                    ==========  ===========  ===========  ===========

   The accompanying notes are an integral part of these condensed consolidated financial statements
</TABLE>


                                        3
<PAGE>
<TABLE>
<CAPTION>
                                     EBANK FINANCIAL SERVICES, INC.
                       CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)
                                              (UNAUDITED)

                                                              For the three           For the nine
                                                              months ended            months ended
                                                         ----------------------  ----------------------
                                                              September 30,          September 30,
                                                         ----------------------  ----------------------
                                                            2003        2002        2003        2002
                                                         ----------  ----------  ----------  ----------
<S>                                                      <C>         <C>         <C>         <C>

Net income (loss)                                        $ 148,171   $(122,225)  $ 105,493   $(398,879)
Other comprehensive loss:
          Unrealized loss on securities
          available for sale, net of taxes of $125,135    (255,847)          -    (255,847)          -
                                                         ----------  ----------  ----------  ----------
Comprehensive loss                                       $(107,676)  $(122,225)  $(150,354)  $(398,879)
                                                         ==========  ==========  ==========  ==========

The accompanying notes are an integral part of these condensed consolidated financial statements.
</TABLE>


                                        4
<PAGE>
<TABLE>
<CAPTION>
                                  EBANK FINANCIAL SERVICES, INC.
                          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                            (UNAUDITED)


                                                                        For the nine months ended
                                                                       ---------------------------
                                                                              September 30,
                                                                       ---------------------------
                                                                           2003           2002
                                                                       -------------  ------------
<S>                                                                    <C>            <C>
Cash flows from operating activities:
   Net earnings (loss)                                                 $    105,493   $  (398,879)
   Adjustments to reconcile net earnings (loss)
      to net cash provided (used) in operating activities:
      Net amortization of investment securities                              17,088         1,269
      Depreciation expense                                                  145,649       519,935
      Provision for loan losses                                             689,000       108,719
      Gain on sale of investments                                          (265,281)            -
      Gain on sale of real estate owned                                     (18,634)            -
      Decrease in mortgage loans held for sale                            7,820,139             -
      Change in deferred loan fees and costs                               (239,227)      (23,458)
      Change in other assets                                                195,160      (105,884)
      Change in accrued interest receivable                                (154,972)       25,561
      Change in accrued interest payable                                    (36,740)      (40,243)
      Change in other liabilities                                          (658,840)      122,843
                                                                       -------------  ------------
                  Net cash provided in operating activities               7,598,835       209,863
                                                                       -------------  ------------

Cash flows from investing activities:
   Purchase of securities held-to-maturity                              (14,720,038)            -
   Proceeds from calls and maturities of securities held-to-maturity     13,626,320     3,000,000
   Proceeds from calls of securities available-for-sale                   2,000,000             -
   Proceeds from sale of securities held-to-maturity                      3,950,329             -
   Purchase of securities available-for-sale                            (16,555,570)            -
   Proceeds from sale of securities available-for-sale                    2,534,226             -
   Proceeds from sale of other securities                                   156,525             -
   Loans (originated) repaid, net of principal repayments                (9,187,384)    4,673,415
   Proceeds from sale of other real estate owned                            138,634             -
   Proceeds from sale of Peachtree Capital Corporation                      578,000             -
   Purchases of premises and equipment                                     (137,398)      (27,802)
                                                                       -------------  ------------
                  Net cash (used) provided by investing activities      (17,616,356)    7,645,613
                                                                       -------------  ------------

Cash flows from financing activities:
   Net decrease in deposits                                              (1,751,723)   (6,529,531)
   Proceeds from repurchase agreements                                    6,000,000             -
   Proceeds from other borrowings                                           491,000             -
   Repayments on other borrowings                                           (30,053)      (60,751)
   Cash dividend paid on preferred stock                                    (20,250)      (20,362)
   Net proceeds from the sale of preferred stock                                  -       100,000
                                                                       -------------  ------------
                  Net cash provided (used) by financing activities        4,688,974    (6,510,644)
                                                                       -------------  ------------

Net (decrease) increase in cash and cash equivalents                     (5,328,547)    1,344,832
Cash and cash equivalents:
   Beginning of period                                                    6,633,440     4,305,435
                                                                       -------------  ------------
   End of period                                                       $  1,304,893   $ 5,650,267
                                                                       =============  ============

The accompanying notes are an integral part of these condensed consolidated financial statements.
</TABLE>


                                        5
<PAGE>
                         EBANK FINANCIAL SERVICES, INC.
              NOTES TO CONDENSED 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
annual  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 nine-month period
ended  September 30, 2003 are not necessarily indicative of the results that may
be  expected  for  the  year ending December 31, 2003.  For further information,
refer  to  our  consolidated  financial statements and footnotes included in our
annual  report  on  Form  10-KSB.

     ebank  Financial  Services,  Inc.  (the "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.
ebank  Financial  Services,  Inc.  and  its  subsidiary  are  subject to intense
competition  for  all  banking  services, including Internet banking, from other
financial  institutions  and  nonbank  financial  service  companies.

     ebank Financial Services, 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  ebank. All significant intercompany accounts and transactions have
been  eliminated  in  consolidation.

                         SIGNIFICANT ACCOUNTING POLICIES

     The  Company's  accounting  policies  are  fundamental  to  understanding
management's  discussion  and  analysis  of  results of operations and financial
condition.  Many  of  the  Company's  accounting  policies  require  significant
judgment  regarding  valuation  of  assets  and  liabilities  and/or significant
interpretation  of  the  specific  accounting  guidance.  A  description  of the
Company's significant accounting policies can be found in Note 1 of the Notes to
Consolidated  Financial  Statements  in  the  Company's  2002  annual  report to
shareholders.  The  following  is  a  summary of the more judgmental and complex
accounting  policies  of  the  Company.

     Many  of  the  Company's  assets and liabilities are recorded using various
valuation  techniques  that  require  significant judgment as to recoverability.
The  collectability  of loans is reflected through the Company's estimate of the
allowance  for  loan  losses.  The  Company  performs  periodic  and  systematic
detailed  reviews of its lending portfolio to assess overall collectability.  In
addition,  certain  assets and liabilities are reflected at their estimated fair
value  in  the  consolidated  financial  statements.  Such  amounts are based on
either quoted market prices or estimated values derived by the Company utilizing
dealer  quotes  or  market  comparisons.

                                USE OF ESTIMATES

     Management  of  the  Company has made a number of estimates and assumptions
relating to reporting of assets and liabilities and the disclosure of contingent
assets  and  liabilities  to  prepare these consolidated financial statements in
conformity  with generally accepted accounting principles.  Actual results could
differ  from  these  estimates.


                                        6
<PAGE>
                            STOCK COMPENSATION PLANS

Statement  of  Financial  Accounting  Standards ("SFAS") No. 123, Accounting for
Stock-Based  Compensation,  encourages  all entities to adopt a fair value based
method of accounting for employee stock compensation plans, whereby compensation
cost  is  measured  at  the  grant  date  based on the value of the award and is
recognized  over  the  service  period,  which  is  usually  the vesting period.
However,  it  also allows an entity to continue to measure compensation cost for
those  plans  using the intrinsic value based method of accounting prescribed by
Accounting  Principles  Board  Opinion  No.  25,  Accounting for Stock Issued to
Employees, whereby compensation cost is the excess, if any, of the quoted market
price of the stock at the grant date (or other measurement date) over the amount
an  employee  must  pay  to  acquire  the  stock.  Accordingly,  the Company has
recorded  no  expense  in the nine months ended September 30, 2003 and September
30,  2002 related to its stock options. The Company has elected to continue with
the  accounting methodology in Opinion No. 25 and, as a result, has provided the
following  pro  forma disclosures of net earnings and loss and basic and diluted
earnings  and  loss  per  common  share.

<TABLE>
<CAPTION>
                                                                For the nine months ended
                                                                      September 30,
                                                                -------------------------
                                                                    2003         2002
                                                                -------------------------
<S>                                           <C>               <C>          <C>

Net loss attributable to common stockholders                    $ (255,017)   $ (795,164)
                                              Effect of stock
                                              options grants      (107,350)     (108,384)
                                                                ------------  -----------
                                              Pro forma         $ (362,367)   $ (903,548)
                                                                ============  ===========

Basic earnings (loss) per share               As reported       $     (.13)   $     (.48)
                                              Pro forma         $     (.18)   $     (.55)

Diluted earnings (loss) per share             As reported       $     (.13)   $     (.48)
                                              Pro forma         $     (.18)   $     (.55)
</TABLE>




NOTE 2 - INVESTMENT  SECURITIES

     In  June  2003,  management of the Company made the decision that it was in
the  Company's  best interest to sell certain securities in the held to maturity
portfolio.  The  Company  sold  held to maturity securities with a book value of
$3,719,394  and  realized  a  gain totaling $230,935 on the sale.  This decision
resulted  in  large  part  from the unique interest rate environment that exists
currently and from management's expectation of the interest rate environment for
the next few years.  For the same reasons, management decided to re-classify the
entire portfolio of held to maturity securities to available for sale as of June
30,  2003.  Securities  with  a  book  value  of $11,553,902 were transferred to
available  for  sale  and  a  gross  unrealized  gain  of  $82,742 was recorded.


                                        7
<PAGE>
NOTE 3 - LOSS PER COMMON SHARE

     Presented  below is a summary of the components used to calculate basic and
diluted  earnings  (loss)  per common share for the three months ended September
30,  2003  and  2002.

<TABLE>
<CAPTION>
                                                                     For the three months ended
                                                                            September 30
                                                                      ------------------------
                                                                         2003         2002
                                                                      -----------  -----------
<S>                                                                   <C>          <C>
          Basic Income (Loss) Per Common Share:
             Weighted average common shares outstanding                2,060,639    1,707,916
                                                                      ===========  ===========

             Net income (loss)                                        $  148,171   $ (122,225)
             Preferred stock dividend accumulated during the period     (121,490)    (133,528)
                                                                      -----------  -----------
             Net income (loss) attributable to common stockholders    $   26,681   $ (255,753)
                                                                      ===========  ===========

             Basic income (loss) per common share                     $      .01   $     (.15)
                                                                      ===========  ===========

          Diluted Income (Loss) Per Common Share:
             Weighted average common shares outstanding                2,060,639    1,707,916
             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                   2,060,639    1,707,916
                                                                      ===========  ===========

          Net income (loss) attributable to common
                stockholders                                          $   26,681   $ (255,753)
                                                                      ===========  ===========

          Diluted income (loss) per common share                      $      .01   $     (.15)
                                                                      ===========  ===========
</TABLE>


                                        8
<PAGE>
     Presented  below is a summary of the components used to calculate basic and
diluted earnings (loss) per common share for the nine months ended September 30,
2003  and  2002.

<TABLE>
<CAPTION>
                                                                  For the nine months ended
                                                                         September 30
                                                                   ------------------------
                                                                      2003         2002
                                                                   -----------  -----------
<S>                                                                <C>          <C>
          Basic Loss Per Common Share:
             Weighted average common shares outstanding             1,959,575    1,647,024
                                                                   ===========  ===========

             Net income (loss)                                     $  105,493   $ (398,879)
             Preferred stock dividend                                (360,510)    (396,285)
                                                                   -----------  -----------
             Net loss attributable to common stockholders          $ (255,017)  $ (795,164)
                                                                   ===========  ===========

             Basic loss per common share                           $     (.13)  $     (.48)
                                                                   ===========  ===========

          Diluted Loss Per Common Share:
             Weighted average common shares outstanding             1,959,575    1,647,024
             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                1,959,575    1,647,024
                                                                   ===========  ===========

          Net loss attributable to common
                stockholders                                       $ (255,017)  $ (795,164)
                                                                   ===========  ===========

          Diluted loss per common share                            $     (.13)  $     (.48)
                                                                   ===========  ===========
</TABLE>



NOTE 4 - ISSUANCE  OF  COMMON  STOCK

     The Company is obligated to pay cumulative dividends at a rate of 8% on the
outstanding  shares  of  Series  A  cumulative convertible preferred stock.  The
dividends  on  each  share  accrue  from  the  date  of purchase, whether or not
declared.  At  the Company's option, the Company may pay these dividends in cash
or  in  additional  shares of its common stock.  The Company anticipates that it
will  pay  these dividends in additional shares of common stock. On February 24,
2003, the Company's board of directors declared a dividend accrued on its Series
A preferred stock through February 28, 2003.  The common stock dividend was paid
on March 25, 2003 to Series A preferred stock shareholders of record on February
28,  2003.  The  dividend, which was based on the closing price of the Company's
common  stock  on the record date, resulted in the issuance of 332,416 shares of
common  stock.


                                        9
<PAGE>
NOTE 5 - CONTINGENCY

     In  May  2003,  Thacker  &  Loucks,  Inc., d/b/a Thacker & Loucks Financial
Services, a Georgia corporation ("Thacker"), filed an action against the holding
company in the State Court of Fulton County alleging a breach of contract by the
holding  company.  The  breach  of  contract  alleged  by  Thacker  relates to a
Servicing  Representative Agreement dated as of August 3, 2001 (the "Agreement")
by  and between ebank, the holding company's subsidiary, and Thacker.  Under the
Agreement, ebank agreed to discount from time to time an indeterminate number of
certain types of contracts which met ebank's underwriting criteria.  Pursuant to
the  terms  of  the  Agreement,  in February ebank provided Thacker with written
notice of ebank's intention to terminate the Agreement after the expiration of a
180-  day  notice  period.

     The  complaint  filed by Thacker alleges that the holding company failed to
approve  loans  which  met  or  exceeded the underwriting criteria and failed to
communicate  with  Thacker.  The  complaint  filed  by Thacker seeks contractual
damages  in  the  amount  of  Three  Million Five Hundred Thousand Dollars, plus
reasonable  attorney's  fees  and  costs  of  the  litigation.

     We  believe that ebank has abided by all applicable terms of the Agreement,
including those terms related to continuing performance during the notice period
prior  to  termination, and that the claim asserted by Thacker is without merit.

     Thacker filed its lawsuit against the holding company, which is not a party
to  the  Agreement and is therefore the wrong entity.  The holding company filed
its  Answer  in  June 2003, denying all claims and informing Thacker that it had
sued  the  wrong  entity.  Thacker  has  agreed  to  file  a joint consent order
dismissing  the  holding  company  from  the  action and substituting ebank, the
actual  party to the Agreement, as the actual Defendant.  The consent order also
stipulates  that ebank will be given an opportunity to file its own Answer.  The
Answer  will  be  due  thirty days after the Court approves the proposed consent
order  and  discovery  will  commence  anew  after  this  Answer  is  filed.

     Other  than  the  pending proposed consent order, no motions are pending in
this  action.  We  intend  to  vigorously  defend  this  lawsuit.


                                       10
<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 Section 21E
the  Securities  Exchange  Act  of  1934.  These statements may relate to, among
others,  our  future  financial  position,  business  prospects  and  strategy,
projected  costs  and  plans  and  objectives  for future operations, growth and
liquidity.  Forward-looking statements generally can be identified by the use of
words  such  as  "may,"  "would,"  "could,"  "will,"  "expect,"  "anticipate,"
"believe,"  "intend,"  "plan,"  "estimate," "project," or "continue" or words of
similar  meaning.  These  statements  are  subject  to  a  number  of  risks and
uncertainties  that could cause our actual results to differ materially from our
historical  results  or from those anticipated or implied as of the date of this
Report.  Some  of  the  factors  that  could  cause  such  a  variance  are:

     -    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  our 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  Financial  Services,  Inc.,  formerly  known  as  ebank.com, Inc., a
Georgia  corporation,  is the holding company for ebank, a federal savings bank.

     Effective  January  2,  2002,  we acquired all of the outstanding shares of
Peachtree  Capital  Corporation,  a  Georgia  corporation based in Atlanta which
provides  financial  planning  and  securities brokerage services.  Accordingly,
Peachtree  Capital  Corporation was operated as a wholly owned subsidiary of the
company  during  most  of the nine month period ended September 30, 2002 and its
results  are  included  in  our  reported results of operations for such period.
Subsequently,  we  entered into a definitive agreement, effective as of December
31,  2002,  for  the  sale  of all of the outstanding capital stock of Peachtree
Capital Corporation to Caroline O. and Steven Harless in exchange for (1) 76,792
previously issued shares of our Series B-1 convertible preferred stock valued at
$225,000;  (2)  76,792  previously  issued  shares of our Series B-2 convertible
preferred  stock  valued  at  $225,000;  and  (3)  a  cash  payment of $578,000.
Therefore,  our  results of operations for the quarter and the nine months ended
September  30,  2003  do  not  include  the  operations  of  Peachtree  Capital
Corporation.

     On  September  27,  2002,  we  announced  that our subsidiary, ebank, would
establish  a  loan  production  office in Columbia, Maryland on October 1, 2002.
The  function  of the loan production office was to originate home mortgages and
home  equity loans and sell them in the secondary market.  Although


                                       11
<PAGE>
the Columbia office was established on October 1, 2002 as planned, we decided to
discontinue operations on November 30, 2002, after consultations with the Office
of  Thrift  Supervision, the bank's primary regulator. Our results for the first
quarter of fiscal 2003 include the proceeds from the sale of all loans generated
by  the  Maryland  operation, and we will not realize any additional income from
this  operation  in  future  periods.

     Effective  January 1, 2003, the holding company's name was changed to ebank
Financial  Services,  Inc.  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,  and bill payment services.

Financial  Condition
--------------------

     Total  consolidated assets increased by $4.0 million to $105,421,933 during
the  nine-month  period  ended  September  30,  2003.  The increase in assets is
primarily  related to increases in investments of $9.1 million, commercial loans
of $2.8 million, commercial real estate loans of $1.9 million, mortgage loans of
$1.1  million and consumer loans of $0.6 million partially off-set by a decrease
in  mortgage  loans held-for-sale of $7.8 million and Federal Funds sold of $4.8
million.

     Total  consolidated  liabilities  increased  by $4.0 million to $98,900,734
during  the  nine-month  period  ended  September  30,  2003.  The  increase  in
liabilities  is primarily related to a $6.5 million increase in other borrowings
and a $4.7 million increase in certificates of deposits, off-set by decreases in
money  market  deposits  and other liabilities of $6.9 million and $0.7 million,
respectively,  during  the  nine-month  period  ended  September  30,  2003.

Results of Operations- Nine months ended September 30, 2003 compared to the nine
---------------------
months  ended  September  30,  2002:

     Net  income  for  the nine months ended September 30, 2003 was $105,493, or
($255,017)  after  taking into account $360,510 in dividends on preferred stock,
compared  with a net loss of ($398,879), or ($795,164) after taking into account
$396,285  in  dividends  on preferred stock, for the nine months ended September
30,  2002.  Net  interest  income,  before  provision  for  loan losses, for the
nine-month  period ending September 30, 2003 totaled $2,907,275, compared to net
interest  income,  before  provision  for  loan  losses,  of  $2,773,169 for the
nine-month  period  ending  September  30,  2002.  During  the nine months ended
September 30, 2003, net interest income of $51,452 was generated from loans held
for  sale  by  our  former  Maryland  loan  production  office.

     Other  income  earned for the nine months ended September 30, 2003 and 2002
was  $1,153,718  and  $729,338,  respectively.  Included in other income for the
nine months ended September 30, 2003 was $752,715 generated by the Maryland loan
production office. The income from the Maryland loan production office consisted
of gains on loans sold to investors in the secondary market. We will not realize
any  additional  income  from the Maryland operation. Additionally, other income
includes  gains  on  sale of investments and other real estate owned of $265,281
and  $18,634,  respectively.  Included in other income for the nine months ended
September  30,  2002  was  $662,353  generated by Peachtree Capital Corporation.

     Operating expenses for the nine-month periods ending September 30, 2003 and
2002  totaled  $3,266,500  and $3,792,667, respectively.  Operating expenses for
the  current  year include expenses associated with the Maryland loan production
office  and  operating  expenses  for the prior year include expenses associated
with  Peachtree  Capital  Corporation.  Operating  expenses  associated with the
Maryland  loan  production office for the nine-month period ending September 30,
2003  totaled $360,543, consisting primarily of incentive compensation and other
benefits.  Operating  expenses associated with Peachtree Capital Corporation for
the  nine-month  period  ending  September  30,  2002  totaled  $524,785.


                                       12
<PAGE>
After  adjusting for operating expenses incurred in connection with the Maryland
loan  production  office  in  2003  and operating expenses for Peachtree Capital
Corporation in 2002, total operating expenses for continuing operations declined
by  $361,925  for the nine-month period ending September 30, 2003 as compared to
the  prior  year  period.

Results  of  Operations-  Three  months ended September 30, 2003 compared to the
-----------------------
three  months  ended  September  30,  2002:

     Net  income  for the three months ended September 30, 2003 was $148,171, or
$26,681  after  taking  into  account  $121,490 in dividends on preferred stock,
compared  with a net loss of ($122,225), or ($255,753) after taking into account
$133,528  in  dividends on preferred stock, for the three months ended September
30,  2002.  Net  interest  income,  before  provision  for  loan losses, for the
three-month period ending September 30, 2003 totaled $1,022,300, compared to net
interest  income,  before  provision  for  loan  losses,  of  $953,395  for  the
three-month  period  ending  September  30,  2002.

     Other  income earned for the three months ended September 30, 2003 and 2002
was  $86,518 and $228,634, respectively.  Included in other income for the three
months  ended September 30, 2003 are gains on sale of investments and other real
estate  owned  totaling  $20,407  and  $18,634, respectively.  Included in other
income  for  the three months ended September 30, 2002 was $206,266 generated by
Peachtree  Capital  Corporation.

     Operating  expenses  for  the three-month periods ending September 30, 2003
and  2002 totaled $960,647 and $1,304,254, respectively.  Operating expenses for
the  three-month  period  of  the  prior  year  include expenses associated with
Peachtree Capital Corporation.  There were no operating expenses associated with
the  Maryland loan production office for the three-month period ending September
30,  2003.  Operating expenses associated with Peachtree Capital Corporation for
the  three-month  period  ending  September  30,  2002  totaled  $180,237. After
adjusting  for  operating  expenses  incurred  in  connection with the operating
expenses for Peachtree Capital Corporation in 2002, total operating expenses for
continuing  operations  declined  $163,370  for  the  three-month  period ending
September  30,  2003  as  compared  to  the  prior  year  period.

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 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 probable losses in our loan portfolio.  To maintain the allowance at
an  adequate  level, we periodically make 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  September  30,  2003  and  December  31,  2002,  the  allowance was
$1,435,330  and  $963,301, respectively.  We strengthened our provision for loan
losses  during  the  nine-month  period  ended September 30, 2003 by $689,000 as
compared to an increase in provision of $108,719 during the same


                                       13
<PAGE>
period  in  2002.  During  the  second  quarter,  we  increased our provision by
$586,000  primarily  as a result of a significant increase in our non-performing
loans  during that period. At December 31, 2002, we had ten non-performing loans
totaling  $234,976.  Non-performing loans declined slightly in the first quarter
of  2003  to  nine  loans totaling $215,187. As of June 30, 2003, we had sixteen
non-performing  loans  totaling  $1,311,012.  As  of  September 30, 2003, we had
sixteen  non-performing  loans  totaling  $1,362,120.

     At  December 31, 2002, there were twenty-two loans past due greater than 30
days totaling approximately $2,811,000.  Loan delinquencies increased during the
first  quarter  and at March 31, 2003, we had thirty-nine loans past due greater
than  30  days  totaling  $5,429,000.  Loan delinquencies declined in the second
quarter and as of June 30, 2003, we had twenty-seven loans past due greater than
30  days totaling approximately $4.5 million.  Although the number of delinquent
loans  decreased  in  the  third quarter, the amount of delinquent loan balances
increased  slightly  and as of September 30, 2003, we had twenty-four loans past
due  greater than 30 days totaling approximately $4.8 million. The allowance for
loan losses, as a percentage of total gross loans, was 1.80% as of September 30,
2003,  compared  to  1.37%  as  of  December  31,  2002.  There  were four loans
charged-off  for  the  nine-month  period  ended  September  30,  2003  totaling
$217,799.

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 nine months ended September 30,
2003:

<TABLE>
<CAPTION>
       Interest-                            Interest
     Earning Assets/           Average       Income/    Yield/
   Bearing Liabilities         Balance       Expense     Cost
--------------------------  -------------  -----------  -------
<S>                         <C>            <C>          <C>

Federal funds sold          $  3,677,271   $   30,537     1.11%
Interest-bearing deposits        456,343        5,232     1.53%
Investment securities         16,683,120      712,136     5.71%
Loans                         79,875,509    3,988,915     6.68%
                            -------------  -----------  -------
      Total                 $100,692,243   $4,736,820     6.29%
                            =============  ===========  =======

Deposits                      79,792,095    1,545,375     2.59%
Other borrowings              10,879,534      284,170     3.49%
                            -------------  -----------  -------
      Total                 $ 90,671,629   $1,829,545     2.70%
                            =============  ===========  =======

Net interest income/spread                 $2,907,275     3.59%
                                           ===========  =======

Net interest margin                                       3.86%
                                                        =======
</TABLE>

     The  net  interest  margin  for  the first nine months of 2003 decreased to
3.86%  as  compared to 4.12% for the first nine months of 2002 and 4.30% for the
full  year  in  2002.

     Liquidity  and  Sources  of  Capital
     ------------------------------------

     Liquidity is our ability to meet all deposit withdrawals immediately, while
also  providing  for the credit needs of customers. Our primary sources of funds
are  principal  and  interest  payments  on  loans  receivable,  cash flows from
operations,  increases  in deposits, advances from the Federal Home Loan Bank of
Atlanta  and  security  repurchase  agreements. The September 30,

2003  financial  statements  reflect  total  cash, cash equivalents, and federal
funds  sold  of approximately $1.3 million, or 1.2% of total assets. In addition
to  cash  and  cash  equivalents, our ability to maintain and expand our deposit
base  and  our  borrowing  capabilities  are other sources of liquidity. For the
nine-month  period ended September 30,


                                       14
<PAGE>
2003, total deposits decreased from $84.6 million to $82.8 million, representing
a  decrease  of  2.1%.  As  of September 30, 2003, we entered into $6 million of
security  repurchase  agreements  that  enabled  us to borrow funds at favorable
rates using our investment securities as collateral. We have additional security
repurchase  borrowing  capacity  of  approximately $13 million. We will increase
deposits  as  required  to fund loan growth, for loan purchases in the secondary
markets  and  for  purchases  of  investments. 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. We believe that our
existing funding sources are adequate to ensure sufficient cash flow to meet our
current  and  future  obligations.

     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 September 30, 2003
             Tier 1 capital                        8.96%          4.0%
             Tier 2 capital                        1.25%
                                                --------
                Total risk-based capital ratio    10.21%          8.0%
                                                ========

             Leverage ratio                        6.32%          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.

     The  Office  of  Thrift  Supervision has requested that the Bank maintain a
total  risk-based capital ratio of 10.0% or higher effective September 30, 2003.
This  request  does  not mean that the Office of Thrift Supervision has made any
adverse  determination  about  the  Bank's level of capitalization.  Rather, the
Office of Thrift Supervision has asked us to maintain a total risk-based capital
ratio  in excess of "adequately capitalized" due to the fact that the proportion
of  the  Bank's  loan  portfolio  which  consists  of  "non-homogenous"  (i.e.
non-residential  mortgage)  loans  is  somewhat  higher than that of the average
thrift  institution.

     We believe that, as of September 30, 2003, 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


                                       15
<PAGE>
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.



     The  table  below  shows  the  interest  rate sensitivity of our assets and
liabilities  as  of  September  30,  2003:

<TABLE>
<CAPTION>
                                                      After three
                                          Within       but within    After one     After
                                           three         twelve      but within     five
                                          months         months      five years    years      Total
                                       -------------  ------------  ------------  --------  ---------
<S>                                    <C>            <C>           <C>           <C>       <C>
                                                         (Dollars in thousands)
Interest-earning assets:
   Interest-earning deposits           $         75   $         -   $         -   $     -   $     75
   Loans                                     36,757         7,911        11,493    23,664     79,825
   Investment securities                        450             -             -    22,715     23,165
   Federal funds sold                           320             -             -         -        320
                                       -------------  ------------  ------------  --------  ---------
Total earning assets                         37,602         7,911        11,493    46,379    103,385
                                       -------------  ------------  ------------  --------  ---------

Interest-bearing liabilities:
   Money market and NOW                      18,086             -             -         -     18,086
   Savings deposits                             513             -             -         -        513
   Time deposits                              8,676        18,948        31,352         -     58,976
   Repurchase agreements                      6,000             -             -         -      6,000
   Other borrowings                           5,741             -             -     4,000      9,741
                                       -------------  ------------  ------------  --------  ---------
Total interest-bearing liabilities           39,016        18,948        31,352     4,000     93,316
                                       -------------  ------------  ------------  --------  ---------

Interest-sensitivity gap               $     (1,414)  $   (11,037)  $   (19,859)  $42,379   $ 10,069
                                       =============  ============  ============  ========  =========

Cumulative interest-sensitivity gap    $     (1,414)  $   (12,451)  $   (32,310)  $10,069   $ 10,069
                                       =============  ============  ============  ========  =========

Ratio of interest-sensitivity gap to
   total earning assets                       -1.37%       -10.68%       -19.21%    40.99%      9.73%

Ratio of cumulative interest-
   sensitivity gap to total earning
   assets                                     -1.37%       -12.05%       -31.26%     9.73%
</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.


                                       16
<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 $79,875,509
for  the  nine-month  period  ended  September  30,  2003.  Total  gross  loans
outstanding  at  September  30,  2003  were  $79,825,280.  The  following  table
summarizes  the  composition  of  the  loan  portfolio  at  September  30, 2003:

<TABLE>
<CAPTION>
                                                 Percent
                                      Amount     of total
                                   ------------  ---------
<S>                                <C>           <C>

Commercial                         $15,612,145      19.56%
Real estate - individual            39,075,605      48.95%
Real estate - commercial            18,761,768      23.50%
Installment loans to individuals     6,375,762       7.99%
                                   ------------  ---------
Gross loans                         79,825,280     100.00%
                                                 =========

Less:   Net deferred loan fees         (90,756)
        Allowance for loan loss     (1,435,330)
                                   ------------
Total net loans                    $78,299,194
                                   ============
</TABLE>

     The  principal  components of our loan portfolio at September 30, 2003 were
mortgage  loans and commercial loans, which represented approximately 92% 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.

ITEM 3.  CONTROLS  AND  PROCEDURES.

     As  of  the  end  of  the  period  covered by this quarterly report on Form
10-QSB,  an  evaluation  was performed pursuant to Rule 13a-15 of the Securities
Exchange  Act  of  1934  under the supervision and with the participation of our
management,  including  the Chief Executive Officer and Chief Financial Officer,
of  the effectiveness of the design and operation of our disclosure controls and
procedures.  Based  on  that  evaluation,  the Chief Executive Officer and Chief
Financial  Officer  concluded  that  our disclosure controls and procedures were
effective.  No  change in our internal control over financial reporting occurred
during  the period covered by this quarterly report that materially affected, or
is  reasonably  likely to materially affect, our internal control over financial
reporting.


                                       17
<PAGE>
                                     PART II
                                OTHER INFORMATION

ITEM 1. LEGAL  PROCEEDINGS.

     In  May  2003,  Thacker  &  Loucks,  Inc., d/b/a Thacker & Loucks Financial
Services, a Georgia corporation ("Thacker"), filed an action against the holding
company in the State Court of Fulton County alleging a breach of contract by the
holding  company.  The  breach  of  contract  alleged  by  Thacker  relates to a
Servicing  Representative Agreement dated as of August 3, 2001 (the "Agreement")
by  and between ebank, the holding company's subsidiary, and Thacker.  Under the
Agreement, ebank agreed to discount from time to time an indeterminate number of
certain types of contracts which met ebank's underwriting criteria.  Pursuant to
the  terms  of  the  Agreement,  in February ebank provided Thacker with written
notice of ebank's intention to terminate the Agreement after the expiration of a
180-  day  notice  period.

     The  complaint  filed by Thacker alleges that the holding company failed to
approve  loans  which  met  or  exceeded the underwriting criteria and failed to
communicate  with  Thacker.  The  complaint  filed  by Thacker seeks contractual
damages  in  the  amount  of  Three  Million Five Hundred Thousand Dollars, plus
reasonable  attorney's  fees  and  costs  of  the  litigation.

     We  believe that ebank has abided by all applicable terms of the Agreement,
including those terms related to continuing performance during the notice period
prior  to  termination, and that the claim asserted by Thacker is without merit.

     Thacker filed its lawsuit against the holding company, which is not a party
to  the  Agreement and is therefore the wrong entity.  The holding company filed
its  Answer  in  June 2003, denying all claims and informing Thacker that it had
sued  the  wrong  entity.  Thacker  has  agreed  to  file  a joint consent order
dismissing  the  holding  company  from  the  action and substituting ebank, the
actual  party to the Agreement, as the actual Defendant.  The consent order also
stipulates  that ebank will be given an opportunity to file its own Answer.  The
Answer  will  be  due  thirty days after the Court approves the proposed consent
order  and  discovery  will  commence  anew  after  this  Answer  is  filed.

     Other  than  the  pending proposed consent order, no motions are pending in
this  action.  We  intend  to  vigorously  defend  this  lawsuit.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS.

     None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

     None.

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

     None.

ITEM 5. OTHER INFORMATION.

     None


                                       18
<PAGE>
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K.

     (a)  Exhibits.

          31.1      Certification  pursuant to Section 302 of the Sarbanes-Oxley
                    Act  of  2002.

          31.2      Certification  pursuant to Section 302 of the Sarbanes-Oxley
                    Act  of  2002.

          32.1      Certification pursuant to 18 U.S.C. Section 1350, as adopted
                    pursuant  to  Section 906 of the Sarbanes-Oxley Act of 2002.

          32.2      Certification pursuant to 18 U.S.C. Section 1350, as adopted
                    pursuant  to  Section 906 of the Sarbanes-Oxley Act of 2002.

     (b)  Reports  on Form 8-K - There were no reports filed on Form 8-K for the
          period  ended  September  30,  2003.


                                       19
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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 Financial Services, Inc.



Date: November 14, 2003                By: /s/ James L. Box
                                          --------------------------------------
                                           James L. Box
                                           President and Chief Executive Officer

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


                                       20
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