U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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, 1999
                                          ------------------

[ ]  Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from                  to
                               ----------------    ----------------

Commission file number: 0-25846

                               CCF HOLDING COMPANY
                        --------------------------------
         (Exact Name of Small Business Issuer as Specified in Its Charter)

             Georgia                                          58-2173616
             -------                                          ----------
  (State or Other Jurisdiction                             (I.R.S. Employer
     of Incorporation or                                 Identification No.)

       Organization)

                              101 North Main Street
                            Jonesboro, Georgia 30236
                            ------------------------
                    (Address of Principal Executive Offices)

                                 (770) 478-8881
                            ------------------------
                (Issuer's Telephone Number, Including Area Code)

         Check whether the issuer: (1) filed all reports required to be filed by
Section 13 or 15(d) of the Securities 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
    ---      ---

Number of shares  outstanding of each of the issuer's  classes of common equity:
At  October  15,  1999  988,650  shares of the  registrant's  common  stock were
outstanding.

         Transitional Small Business Disclosure Format (check one):

Yes      No   X
    ---      ---




<PAGE>
FORM 10-QSB
                                      INDEX



PART I.   FINANCIAL INFORMATION                                             Page



         Item 1.  Financial Statements:

                      Consolidated Balance Sheets as of
                      September 30, 1999 and December 31, 1998................1

                      Consolidated Statements of Income
                      for the three months and nine months ended
                      September 30, 1999 and September 30, 1998 ..............2

                      Consolidated Statements of Comprehensive Income
                      for the three months and nine months ended
                      September 30, 1999 and September 30, 1998  .............3

                      Consolidated Statements of Cash Flows
                      for the nine months ended
                      September 30, 1999 and September 30, 1998 ..............4

                      Notes to Consolidated Financial Statements .............5

         Item 2.  Management's Discussion and Analysis or Plan of Operation ..7


PART II.  OTHER INFORMATION


         Item 1.      Legal Proceedings .....................................10

         Item 2.      Changes in Securities..................................10

         Item 3.      Defaults upon Senior Securities .......................10

         Item 4.      Submission of Matters to a Vote
                        of Security Holders .................................10

         Item 5.      Other Information .....................................10

         Item 6.      Exhibits and Reports on Form 8-K ......................10

Signatures            .......................................................11


<PAGE>


PART I.  FINANCIAL INFORMATION
------------------------------
ITEM 1.  FINANCIAL STATEMENTS

                       CCF HOLDING COMPANY AND SUBSIDIARY
                           Consolidated Balance Sheets
                                     Assets
                                     ------
<TABLE>
<CAPTION>
                                                                   September 30,               December 31,
                                                                        1999                       1998
                                                                        ----                       ----
                                                                     (Unaudited)                 (Audited)

<S>                                                              <C>                            <C>
Cash and due from banks                                           $    6,674,434                 7,275,835
Federal funds sold                                                     2,380,000                 2,320,000
Interest-bearing deposits in other financial institutions                102,583                   756,687
                                                                     -----------            --------------

              Cash and cash equivalents                                9,157,017                10,352,522

Investment securities available for sale                              35,460,071                29,457,412
Loans, net                                                           132,625,908               121,827,463
Premises and equipment, net                                            5,772,035                 5,422,602
Federal Home Loan Bank stock, at cost                                    509,800                 1,013,200
Accrued interest and dividends receivable                              1,231,038                 1,114,880
Other assets                                                           2,636,958                   671,863
                                                                   -------------               -----------

                  Total assets                                     $ 187,392,827               169,859,942
                                                                     ===========               ===========

                      Liabilities and Stockholders' Equity
                      ------------------------------------
Deposits:
     Non-interest bearing                                          $  11,158,151                 8,501,973
     Interest- bearing deposits                                       60,227,344                44,555,271
     Savings  accounts                                                 7,818,682                 9,089,074
     Time deposits less than $100,000                                 70,526,766                74,388,954
     Time deposits greater than $100,000                              17,485,667                18,441,449
                                                                    ------------              ------------

                  Total deposits                                     167,216,610               154,976,721

     Securities sold under agreements to repurchase                      717,896                 1,117,264
     Line of credit                                                      750,000                       -
     Federal Home Loan Bank Advances                                   5,000,000                       -
     Other liabilities                                                 1,816,082                 2,139,844
                                                                   -------------               -----------

                  Total liabilities                                  175,500,588               158,233,829
                                                                     -----------               -----------

Stockholders' Equity:
     Preferred stock, no par value; 1,000,000 shares
       authorized; none issued and outstanding                             -                         -
     Common stock, $.10 par value; 4,000,000 shares
       authorized;  988,650 shares issued in 1999 and 990,647
       shares issued 1998; outstanding  985,636 in 1999 and
       984,662 in 1998                                                    98,869                    90,059
     Additional paid-in-capital                                        9,086,789                 7,783,384
     Retained earnings                                                 3,736,560                 4,528,267
     Unearned ESOP shares                                              (414,000)                 (468,000)
     Unearned compensation                                             (204,784)                 (286,339)
     Treasury stock, at cost                                            (75,876)                  (59,777)
     Accumulated other comprehensive income                            (335,319)                    38,519
                                                                   -------------               -----------
                  Total stockholders' equity                          11,892,239                11,626,113
                                                                    ------------              ------------

                  Total liabilities and stockholders' equity       $ 187,392,827               169,859,942
                                                                     ===========               ===========
</TABLE>

See accompanying notes to consolidated financial statements.
                                        1
<PAGE>

                       CCF HOLDING COMPANY AND SUBSIDIARY
                        Consolidated Statements of Income
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                 Three Months Ended         Nine Months Ended
                                                                    September 30,              September 30,
                                                                    -------------              -------------
                                                                  1999          1998          1999           1998
                                                                  ----          ----          ----           ----
<S>                                                           <C>           <C>           <C>           <C>
Interest and dividend income:
   Interest and fees on loans                                  $ 3,116,313      2,856,057     9,096,641     7,814,335
   Interest on federal funds sold                                   76,621        114,106       320,927       267,017
   Interest bearing deposits in other financial institutions         7,036         17,079        15,971        45,790
Interest and dividends on taxable investment securities            493,918        334,907     1,291,265       823,922
                                                               -----------    -----------   -----------   -----------
               Total interest and dividend income                3,693,888      3,322,149    10,724,804     8,951,064
Interest expense:
   Deposit accounts                                              1,802,082      1,783,807     5,402,585     4,726,220
   Securities sold under agreement to repurchase                    19,197         29,597        50,894        82,653
   Other borrowings                                                 41,168           --          41,908       135,130
                                                               -----------    -----------   -----------   -----------
          Total interest expense                                 1,862,447      1,813,404     5,495,387     4,944,003
                                                               -----------    -----------   -----------   -----------

          Net interest income                                    1,831,441      1,508,745     5,229,417     4,007,061

Provision for loan losses                                           75,000         80,000       295,700       200,000
                                                               -----------    -----------   -----------   -----------
          Net interest income after provision
            for loan losses                                      1,756,441      1,428,745     4,933,717     3,807,061
                                                               -----------    -----------   -----------   -----------
Other income:
   Service charges on deposit accounts                             126,989         99,414       371,632       284,863
   Gain(loss) on sale of loans                                      (2,776)          --          49,102          --
   Gain on sale of fixed assets                                       --             --          58,359          --
   Gain on sale of investments and mortgage-backed
     securities                                                       --             --          68,201       136,513
   Other                                                            56,249         31,082       102,988        87,416
                                                               -----------    -----------   -----------   -----------
          Total other income                                       180,462        130,496       650,282       508,792
                                                               -----------    -----------   -----------   -----------

Other expenses:
   Salaries and employee benefits                                  868,372        774,475     2,547,173     2,261,470
   Occupancy                                                       294,632        196,247       843,817       540,546
   Other                                                           377,227        402,168     1,083,639     1,180,157
                                                               -----------    -----------   -----------   -----------
          Total other expenses                                   1,540,231      1,372,890     4,474,629     3,982,173
                                                               -----------    -----------   -----------   -----------
Income before income taxes                                         396,672        186,351     1,109,370       333,680
                                                               -----------    -----------   -----------   -----------
Income tax expense                                                 139,414         65,545       390,379       117,535
                                                               -----------    -----------   -----------   -----------
          Net income                                           $   257,258        120,806       718,991       216,145
                                                               -----------    -----------   -----------   -----------
Basic income per share                                         $       .27            .13           .77           .23
                                                               -----------    -----------   -----------   -----------
Diluted  income per share                                      $       .26            .12           .74           .22
                                                               -----------    -----------   -----------   -----------
Weighted average shares outstanding - basic                        959,906        947,827       937,470       924,748
                                                               -----------    -----------   -----------   -----------
Weighted average shares outstanding - diluted                    1,001,597        998,902       975,319       978,665
                                                               -----------    -----------   -----------   -----------
Dividends declared per common share                                    .08            .16           .24           .48
                                                               ===========    ===========   ===========   ===========

</TABLE>

See accompanying notes to consolidated financial statements

                                        2
<PAGE>
                               CCF HOLDING COMPANY
                 Consolidated Statement of Comprehensive Income
              For the Nine Months Ended September 30, 1999 and 1998
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                      Three Months Ended        Nine Months Ended
                                                        September  30,           September  30,
                                                      1999          1998        1999          1998
                                                      ----          ----        ----          ----


<S>                                               <C>            <C>          <C>           <C>
Net Earnings                                       $ 257,258      120,806      718,991       95,340
                                                   ---------      -------      -------       ------

Other comprehensive income, net of tax:
      Unrealized gains on investment
      securities available for sale:
          Holding gains(losses) arising during
          the period, net of taxes of $(90,368),
          $(95,697), $(202,849) and $12,665         (147,693)    (156,402)    (331,526)      20,700
          Reclassification adjustment for
          gain(loss) included in earnings, net
          of taxes $0, $0, $25,889,and $51,820             0            0      (42,312)     (84,693)
                                                   ---------      -------      -------       ------
Other comprehensive loss                            (147,693)    (156,402)    (373,838)     (63,993)
                                                   ---------      -------      -------       ------
Comprehensive income                               $ 109,565      (35,596)     345,153      152,152
                                                   =========      =======      =======      =======

</TABLE>



                                        3
<PAGE>

                       CCF HOLDING COMPANY AND SUBSIDIARY
                      Consolidated Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                             Nine Months Ended
                                                                                               September 30,
                                                                                               -------------
                                                                                            1999            1998
                                                                                            ----            ----
<S>                                                                                  <C>               <C>
Cash flows from operating activities:
      Net income                                                                       $    718,991         216,145
      Adjustments to reconcile net income to net cash
        (used in) provided by operating activities:
      Provision for loan losses                                                             295,700         200,000
      Depreciation, amortization, and accretion, net                                        363,111         324,943
      Amortization of management stock bonus plan expense                                    64,583          80,570
      ESOP compensation expense                                                             107,879         136,916
      Net gain(loss) on sale of investment securities and mortgage-backed securities        (68,201)       (136,513)
      Net (gain)loss on sale of loans                                                       (49,102)            206
      Net (gain)loss on sale of fixed assets                                                (58,359)            347
      Increase in accrued interest and dividends receivable                                (116,158)       (261,545)
      Increase in other assets                                                           (1,965,095)       (496,937)
      Decrease in other liabilities                                                        (489,071)        (41,246)
                                                                                       ------------    ------------
   Net cash provided by(used in) operating activities                                    (1,195,722)         22,886
                                                                                       ------------    ------------

Cash flows from investing activities:
      Proceeds from maturing investment securities-available for sale                    18,750,000      19,071,347
Proceeds from sales of investment securities-available for sale                             552,580       1,402,995
      Proceeds from redemption of Federal Home Loan Bank Stock                              503,400            --
      Purchases of investment securities-available for sale                             (25,713,863)    (32,127,695)
      Principal repayments on mortgage-backed securities-available for sale                  63,114         380,448
      Proceeds from sales of mortgage-backed securities-available for sale                     --         1,167,169
      Loan originations, net                                                            (16,458,207)    (30,096,983)
      Proceeds from sale of loans                                                         5,504,495       6,786,249
      Premises and equipment retired                                                         85,901         296,922
      Proceeds from sale of premises and equipment                                          132,722             347
      Purchases of premises and equipment                                                  (854,060)       (999,214)
                                                                                       ------------    ------------
   Net cash used in investing activities                                                (17,433,918)    (34,118,415)
                                                                                       ------------    ------------

Cash flows from financing activities:
      Net increase in savings and demand deposit accounts                                17,057,859      22,186,652
      Net increase(decrease) in certificates of deposits                                 (4,817,971)     38,847,450
      Net increase(decrease) in securities sold under agreements to repurchase             (399,368)        440,856
      Decrease(increase) in Federal Home Loan Bank advances                               5,000,000     (18,510,000)
      Advances on line of credit                                                            750,000            --
      Net increase in advance payments by
        borrowers for property taxes and insurance                                          137,991         309,256
      Dividends paid                                                                       (285,343)       (264,488)
      ESOP Shares allocated                                                                    --           109,430
Cash paid in lieu of fractional shares                                                         (835)           (651)
      Common stock repurchased                                                               (8,198)        (51,190)
                                                                                       ------------    ------------
            Net cash provided by  financing activities                                   17,434,135      43,067,315
                                                                                       ------------    ------------

Increase in cash and cash equivalents                                                    (1,195,505)      8,971,786

Cash and cash equivalents at beginning of period                                         10,352,522       8,741,316
                                                                                       ------------    ------------
Cash and cash equivalents at end of period                                             $  9,157,017      17,713,102
                                                                                       ============    ============
Supplemental disclosure of cash flow information:
      Interest paid                                                                    $  5,540,749       4,944,003
                                                                                       ============    ============
      Income taxes paid                                                                $    725,000          30,000
                                                                                       ============    ============
Non cash transactions effecting investing activities:
      Transfer of loans to other assets owned                                          $     93,000            --
                                                                                       ============    ============
</TABLE>

See accompanying notes to consolidated financial statements

                                        4
<PAGE>

                       CCF HOLDING COMPANY AND SUBSIDIARY
                   Notes to Consolidated Financial Statements
                                   (Unaudited)

1.  Basis of Presentation
    ---------------------

The consolidated financial statements for the three and nine month periods ended
September  30,  1999 and  September  30,  1998 are  unaudited  and  reflect  all
adjustments  (consisting  only of normal  recurring  accruals) which are, in the
opinion  of  management,  necessary  for a fair  presentation  of the  financial
position,   operating   results,   and  cash  flows  for  the  interim  periods.
Accordingly,  they do not include all information  and  disclosures  required by
generally accepted accounting principles for complete financial statements.

The results of  operations  for the three and nine month period ended  September
30,  1999 are not  necessarily  indicative  of the  results  for the entire year
ending December 31, 1999.

2.  Accounting Policies
    -------------------

Reference  is made to the  accounting  policies of the Company  described in the
notes to the consolidated financial statements contained in the Company's Annual
Report on Form 10-KSB for the fiscal year ended December 31, 1998 filed with the
Securities and Exchange Commission.

3.   Reclassifications
     -----------------

Certain amounts in the prior period financial  statements have been reclassified
to conform to the presentation used in the current period consolidated financial
statements.

4.   Cash Dividend
     -------------

On September 21, 1999, the Company declared a cash dividend of $.08 per share to
stockholders  of record on October  5, 1999.  These  dividends  were  payable on
October 20, 1999.  For period ending during 1998,  per share cash dividends have
been adjusted for stock dividends.

5.   Stock Dividend
     --------------

On March 16,  1999,  the  Company  declared  a 10% stock  dividend  per share to
stockholders  of record on April 1, 1999. This dividend was payable on April 15,
1999.  Cash was paid in lieu of  fractional  shares  at the rate of  $14.25  per
share. As a result of the stock  dividend,  the Company  transferred  $1,280,827
from retained earnings to additional paid in capital.

6.  Earnings per share
    ------------------

Basic EPS  excludes  dilution and is computed by dividing net income by weighted
average shares  outstanding  which includes  Management  Stock Bonus Plan shares
which have been awarded  whether  vested or not and exclude  unallocated  shares
under the Company's employee stock ownership plan until they are committed to be
released  for  allocation.  Diluted EPS is  computed  by dividing  net income by
weighted  average shares  outstanding plus potential common stock resulting from
dilutive stock options.

All average share and per share data in the accompanying  consolidated financial
statements  and all share and per share data have been  restated  to reflect the
10% stock dividend  declared in December 1997, which was effected on January 15,
1998 and the 10% stock dividend  declared on March 16, 1999,  which was effected
on April 15, 1999.

The following is a reconciliation of the amounts used in the computation of both
"basic earnings per share" and "diluted earnings per share".

                                        5
<PAGE>

6.  Earnings per share (continued)
    ------------------------------

                  For the three months ended September 30, 1999
<TABLE>
<CAPTION>
                                                                                               Per share
                                                         Net Earnings         Common Shares       Amount
                                                         ------------         -------------       ------

<S>                                                         <C>                   <C>             <C>
Basic earnings per share                                     $257,258              959,906         $0.27
Effect of dilutive common stock issuance's:
     Stock Options                                                                  41,692
                                                         -----------------------------------
Diluted Earnings per share                                   $257,258            1,001,598         $0.26
                                                         ===============================================


                  For the three months ended September 30, 1998
                                                                                                Per share
                                                         Net Earnings         Common Shares       Amount
                                                         ------------         -------------       ------

Basic earnings per share                                     $120,806              947,827         $0.13
Effect of dilutive common stock issuance's:
     Stock Options                                                                  51,075
                                                         -----------------------------------
Diluted Earnings per share                                   $120,806              998,902         $0.12
                                                         ===============================================


                  For the nine months ended September 30, 1999
                                                                                                Per share
                                                         Net Earnings         Common Shares       Amount
                                                         ------------         -------------       ------

Basic earnings per share                                     $718,991              937,470         $0.77
Effect of dilutive common stock issuance's:
     Stock Options                                                                  37,849
                                                         -----------------------------------
Diluted Earnings per share                                   $718,991              975,319         $0.74
                                                         ===============================================


                  For the nine months ended September 30, 1998
                                                                                                Per share
                                                         Net Earnings         Common Shares       Amount
                                                         ------------         -------------       ------
Basic earnings per share                                     $216,145              924,748         $0.23
Effect of dilutive common stock issuance's:
     Stock Options                                                                  53,917
                                                         -----------------------------------
Diluted Earnings per share                                   $216,145              978,665         $0.22
                                                         ===============================================
</TABLE>


                                        6


<PAGE>


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

CCF Holding  Company (the  "Company") may from time to time make written or oral
"forward-looking  statements",  including  statements contained in the Company's
filings with the Securities and Exchange  Commission  (including  this report on
Form 10QSB),  in its reports to stockholders and in other  communications by the
Company,  which  are made in good  faith by the  Company  pursuant  to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.

These  forward  looking  statements  involve  risks and  uncertainties,  such as
statements  of the  Company's  plans,  objectives,  expectations,  estimates and
intentions,  that are subject to change based on various important factors (some
of which are beyond the Company's control). The following factors, among others,
could cause the Company's  financial  performance to differ  materially from the
plans, objectives,  expectations,  estimates and intentions expressed in forward
looking statements: the strength of the United States economy in general and the
strength of the local economies in which the Company  conducts  operations;  the
effects  of, and changes  in,  trade,  monetary  and fiscal  policies  and laws,
including  interest  rate  policies  of the Board of  Governors  of the  Federal
Reserve System,  inflation,  interest rate and market and monetary fluctuations;
the timely  development  of and  acceptance  of new products and services of the
Company and the perceived overall value of these products and services by users,
including the features,  pricing and quality  compared to competitors'  products
and services;  the willingness of users to substitute  competitors' products and
services for the Company's products and services;  the success of the Company in
gaining  regulatory  approval of its products and services,  when required;  the
impact of changes in financial  services' laws and  regulations  (including laws
concerning taxes,  banking,  securities and insurance);  technological  changes;
disruption in data processing  caused by computer  malfunctions  associated with
the year 2000 problem;  acquisitions;  changes in consumers  spending and saving
habits;  and the success of the Company at  managing  the risks  involved in the
foregoing.

The Company cautions that these important factors are not exclusive. The Company
does not undertake to update any forward looking  statement,  whether written or
oral, that may be made from time to time by or on behalf of the Company.

Comparison of Financial Condition at September 30, 1999  and December 31, 1998

Assets - The Company's  assets  increased by 10.3%,  or $17.5  million,  between
December 31, 1998 and September 30, 1999. Net loans receivable increased 8.8% to
$132.6  million at September 30, 1999,  up $10.8 million from $121.8  million at
December 31, 1998. The Company's loan growth includes approximately $7.2 million
in commercial real estate loans and $10.7 million in consumer  loans,  primarily
indirect  consumer loans.  The growth has been partially  offset by the sale, in
January 1999,  of $5.4 million in fixed rate mortgage (1 to 4 family  dwellings)
loans  for a net  decrease  in  the  mortgage  (1 to 4  family  dwellings)  loan
portfolio of $6.6 million.

Investment securities increased from $29.5 million on December 31, 1998 to $35.5
million on September  30, 1999.  This  increase was partially the result of $6.0
million is in short term Federal Home Loan Bank Discount  Notes that will mature
during the fourth  quarter of 1999  providing  liquidity  to the bank during the
century rollover.  Other assets increased $2.0 million from December 31, 1998 to
September  30, 1999.  This  increase was primarily due to the purchase of a life
insurance  asset of $1.3  million.  Additionally,  the dealer  reserve  account,
associated with the indirect lending function increased by $293,000.

Liabilities  - Total  deposits  during the nine months ended  September 30, 1999
grew to $167.2  million,  an increase of $12.2  million  from $155.0  million at
December 31, 1998.  Deposit growth was primarily in transaction  accounts with a
$2.7 million  increase in  non-interest  bearing  accounts  and a $15.7  million
increase in interest bearing transaction  accounts which was partially offset by
a reduction of $4.8 million in the time deposit balances.  The Bank continues to
stress transaction account growth in its marketing strategy.

Other  liabilities  decreased  $324,000  during the  period.  This  decrease  is
primarily  due to payment of $342,000  for income  taxes due for the year ending
1998 which was partially  offset by an increase in the overnight  balance in the
official check account of $162,000.

The  Company  opened and drew  $750,000 on a line of credit of  $1,000,000.  The
interest  rated charged on this line of credit is prime minus .75%.  These funds
were downstreamed to the Bank as a capital infusion. In addition,  the bank drew
$5,000,000 with a six month maturity on a line of credit (at a rate of 5.96%) at
the Federal Home Loan Bank of Atlanta in September  1999.  Subsequent to quarter
end, the bank drew an additional  $5,000,000  with a three month  maturity (at a
rate of 5.98%) at the Federal Home Loan Bank.  The second draw was done in order
to follow the liquidity plan established for the century rollover.

                                        7
<PAGE>

Stockholders'  Equity - Stockholders'  equity  increased  $266,000 or 2.2%, from
December 31, 1998 to September  30,  1999.  This  increase was the result of the
Company's net income,  Employee  stock  ownership plan  allocations,  management
stock bonus plan expense, partially offset by the change in unrealized losses on
securities  available  for sale.  The  Company  also  declared  three  quarterly
dividends  totaling $285,000 which partially offset the increase in stockholders
equity.  The ratio of  stockholders'  equity  as a  percentage  of total  assets
decreased  to 6.3% at September  30, 1999 from 6.84% at December 31, 1998.  Book
value  per  share  increased  from  $11.73  at  December  31,  1998 to $12.02 at
September 30, 1999.

Liquidity - The Bank's  liquidity  was 20.10% on September 30, 1999. In addition
to the customary means of meeting  liquidity needs, the Bank had $2.4 million in
Federal Funds sold available and unused lines of credit totaling $8.5 million.

Comparison  of  Operating  Results for the Three  Months and Nine  Months  Ended
September 30, 1999 and 1998

Net Income - The  Company's  net income of $257,258  for the three month  period
ending  September  30, 1999  increased by $136,452  from  $120,806 over the same
three month period ending  September  30, 1998.  Income of $718,991 for the nine
month period ended  September 30, 1999 increased by $502,846 or 232%, from a net
income of $216,145  for the nine month period  ending  September  30, 1998.  The
change in net income was  primarily  due to an increase of net interest  income,
generated through loan growth and interest on securities.

Net  Interest  Income - Net  interest  income for the  three-month  period ended
September 30, 1999 increased $323,000 or 21.3% from $1.5 million in 1998 to $1.8
million for the same period in 1999. For the nine month periods ending September
30, 1999 and September 30, 1998 net interest  income  increased  $1.2 million or
30.5%.  The  increase  in the  average  balance of loans  receivable  during the
nine-month  period ended September 30, 1999, of $12.7 million resulted in a $1.3
million or 16.4%  increase in interest  income from loans to $9.1  million  from
$7.8  million,  respectively.  Investment  securities  and  federal  funds  sold
interest  income  increased  $521,000  from  September 30, 1998 to September 30,
1999, to $1.6 million from $1.1 million.  Interest expense increased $551,000 to
$5.5  million  for the  nine-month  period  ended  September  30, 1999 from $5.0
million  for the same  period  in  1998.  This  increase  is the  result  of the
increased  balances in interest  bearing  deposits  during the nine months ended
September 30, 1999.

Provision for Loan Losses - The Bank's  provision for loan losses  increased for
the nine month period ended  September  30, 1999  compared to the same period in
1998,  increasing to $295,700 from $200,000. At September 30, 1999 the allowance
for  non-mortgage  loan losses to the  non-mortgage  loan  portfolio  was 1.08%.
Management periodically evaluates the adequacy of the allowance for loan losses,
including  an  evaluation  of  past  loan  loss  experience,   current  economic
conditions, volume, growth and collateral of the loan portfolio. Management also
reviews  classified   assets,   including  those  loans  and  assets  listed  as
non-performing.  Currently,  management  believes  that its  allowance  for loan
losses is adequate.  However,  there can be no assurances that further additions
will not be needed. Management will continue to monitor and adjust the allowance
as  necessary  in future  periods  based on growth in the loan  portfolio,  loss
experience which has been minimal,  and the continued  expected  changing mix of
loans in the loan portfolio.  Loans internally classified as Substandard for the
period  ending  September  30, 1999 totaled  $604,476 and for the period  ending
December 31, 1998  substandard  loans  totaled  $786,762.  Loans  classified  as
doubtful totaled $51,613 for the period ending September 30, 1999, there were no
loans  classified as doubtful at December 31, 1998. Non accrual loans  increased
from  $111,536 at December  31, 1998 to $189,196 at September  30, 1999.  Charge
offs during the period ending September 30, 1999 totaled  $62,931,  representing
0.05% of loans outstanding.

Other Income - Service charges on deposit accounts increased 28% from $99,000 at
September 30, 1998 to $127,000 for the same three month period ending  September
30, 1999. During the nine month period ending September 30, 1999, service charge
income on deposit  accounts  had  increased  to  $38,000.  This  represented  an
increase of 30.4% over the same period ending  September 30, 1998. This increase
is  attributed  to the  rising  number of  transaction  accounts.  Other  income
includes a net gain on the sale of mortgage  loans of $49,102.  During the first
quarter of 1999, a block of fixed rate Fannie Mae qualified  mortgage loans were
sold to Fannie Mae with servicing retained.  Additionally, a gain of $58,359 was
booked during the first  quarter  related to the sale of a building in Riverdale
Georgia. This office was closed in 1996.

Other Expenses - Other  expenses for the three month period ended  September 30,
1999  increased  12.1%  from  $1.4  million  for the  three-month  period  ended
September  30, 1998 to $1.5 million for the same period in 1999,  an increase of
$167,000.  For the nine month period ending  September 30, 1999,  other expenses
increased by 12.3% or $492,000. Salaries and employee benefits increased to $2.6
million for the nine month  period  ended  September  30, 1999  compared to $2.3
million during the same nine-month period in 1998, an increase of $286,000.


                                        8
<PAGE>

Other expenses  (cont'd):  Occupancy expenses increased by $303,000 for the nine
month period.  This included an increase of $87,000 for  processing  the growing
number of transaction  accounts from the period ending September 30, 1998 to the
same nine-month period ending September 30, 1999.

Year 2000 - The Bank has developed a Business  Resumption Plan and a Contingency
Plan which were  approved by the Board of  Directors  prior to the June 30, 1999
deadline  as  required  by the  regulators.  The Bank's  plans cover those areas
deemed  mission  critical   including  those  systems  certified  as  Year  2000
compliant.

Costs associated with the Year 2000 project have been negligible and have mostly
been  absorbed in the expansion  expenses  taking place over the last 24 months.
The new  technologies and processing  systems  installed during that period were
certified Year 2000 compliant at management's insistence, as they were added.

All credit customers with balances outstanding or commitments exceeding $100,000
have been evaluated for their Year 2000 compliance  efforts.  There have been no
Y2K credit risks noted  through the period ending  September  30, 1999.  All new
loans  exceeding the $100,000  threshold  require an indemnity from the customer
regarding issues relating to the millennium date change.

The  Company  will  monitor  uncertainties  related  to the Year 2000  issues by
continuing  to request an update on all critical and important  vendors  through
the  remainder of 1999. If any concerns are  identified  related to any critical
vendor,  the  contingency  plans  will  be  implemented  immediately  to  assure
continued service the Bank's customers.

The Year 2000 liquidity plan has been developed to included projected cash needs
and  sources of the funds that could be required  during the  century  rollover.
Funds are  available  from  maturing  discount  notes  and lines of credit  with
correspondent  banks. The bank has drawn $10 million (including $5 million drawn
subsequent to September 30, 1999) on the line of credit at the Federal Home Loan
Bank to ensure a liquid position through the century rollover period.

Successful  and  timely  completion  of  the  Year  2000  project  is  based  on
management's best estimates  derived from various  assumptions of future events,
which are  inherently  uncertain,  including the progress and results of testing
plans and the readiness of all vendors,  suppliers and customers. The electrical
provider that the Company uses has asserted that they are Year 2000 compliant.

The Company has begun planning for the century rollover weekend.  The event plan
includes testing that will occur after the rollover to ensure that there will be
no  interruption  of  services  to our  customers.  Additionally,  the plan will
address  actions  to be  taken  should  any  problems  be  identified.  As noted
previously, a business interruption and contingency plan have been completed and
can be utilized if necessary.

Despite the best efforts of management to address this issue, the vast number of
external entities that have direct and indirect business  relationships with the
Company,  such as  customers,  vendors,  payment  systems  providers  and  other
financial institutions,  makes it impossible to assure that a failure to achieve
compliance  by one or more of these  entities  would not have  material  adverse
impact on operations.

                                        9


<PAGE>



PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings.
         NONE

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

Item 6.  Exhibits and Reports on Form 8-K
        (a)    NONE

        (b)    NONE































                                       10


<PAGE>



CCF HOLDING COMPANY AND SUBSIDIARY


                                   SIGNATURES


     In accordance  with the  requirements  of the Exchange Act, the  registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



                                            CCF HOLDING COMPANY


     Date:   November 12, 1999            BY:\s\ David B. Turner
             -----------------                ---------------------------------
                                                 David B. Turner
                                                 President and
                                                 Chief Executive Officer


     Date:   November 12, 1999            BY:\s\ Mary Jo Rogers
             -----------------                ---------------------------------
                                               Mary Jo Rogers
                                                 Sr. Vice President and
                                                 Chief Financial Officer







                                       11