##### Table of Contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



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FORM 10-QSB



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(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, 2005



| ̈ | Transition report under Section 13 or 15(d) of the Exchange Act
|- | ---------------------------------------------------------------



For the transition period from  to



Commission file number: 0-25846



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CCF HOLDING COMPANY

(Exact name of Small Business Issuer as Specified in Its Charter)



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



101 North Main
Street

Jonesboro, Georgia 30236

(Address of Principal Executive Offices)



(770) 478-8881

(Issuers Telephone Number)



---



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
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 ̈



Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act):    Yes ̈No  x



State the number of shares outstanding of each of the issuers classes
of common equity, as of the latest practicable date: At November 10, 2005, 2,347,596 shares of the registrants common stock were outstanding.



Transitional Small Business Disclosure Format (check one):    Yes ̈No  x



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##### Table of Contents

FORM 10-QSB



INDEX



|                                  |  |                                                                                                                                         |  |     
|--------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------- |  | ----
|                                  |  |                                                                                                                                         |  | Page
|PART I.    
FINANCIAL INFORMATION |  |                                                                                                                                        
|                                  |  |                                                                                                                                        
|Item 1.                           |  | Financial Statements:                                                                                                                   |  |     
|                                  |  |                                                                                                                                        
|                                  |  | Consolidated Balance Sheets as ofSeptember 30, 2005 (unaudited) and December 31, 2004 (audited)                                         |  | 1   
|                                  |  |                                                                                                                                        
|                                  |  | Consolidated Statements of EarningsFor the Three and Nine Months EndedSeptember 30, 2005 and September 30, 2004 (unaudited)             |  | 2   
|                                  |  |                                                                                                                                        
|                                  |  | Consolidated Statements of Comprehensive IncomeFor the Three and Nine Months EndedSeptember 30, 2005 and September 30, 2004 (unaudited) |  | 3   
|                                  |  |                                                                                                                                        
|                                  |  | Consolidated Statements of Cash FlowsFor the Nine Months EndedSeptember 30, 2005 and September 30, 2004 (unaudited)                     |  | 4   
|                                  |  |                                                                                                                                        
|                                  |  | Notes to Unaudited Consolidated Financial Statements                                                                                    |  | 5   
|                                  |  |                                                                                                                                        
|Item 2.                           |  | Managements Discussion and Analysis of Financial Condition and Results of Operations                                                   |  | 7   
|                                  |  |                                                                                                                                        
|Item 3.                           |  | Controls and Procedures                                                                                                                 |  | 12  
|                                  | 
|PART II.       
OTHER INFORMATION |  |                                                                                                                                        
|                                  |  |                                                                                                                                        
|Item 1.                           |  | Legal Proceedings                                                                                                                       |  | 13  
|                                  |  |                                                                                                                                        
|Item 2.                           |  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                             |  | 13  
|                                  |  |                                                                                                                                        
|Item 3.                           |  | Defaults Upon Senior Securities                                                                                                         |  | 13  
|                                  |  |                                                                                                                                        
|Item 4.                           |  | Submission of Matters to a Vote of Security Holders                                                                                     |  | 13  
|                                  |  |                                                                                                                                        
|Item 5.                           |  | Other Information                                                                                                                       |  | 13  
|                                  |  |                                                                                                                                        
|Item 6.                           |  | Exhibits                                                                                                                                |  | 13  
|                                  |  |                                                                                                                                        
|Signatures                        |  |                                                                                                                                         |  | 14  
|                                  |  |                                                                                                                                        
|Certificates                      |  |                                                                                                                                         |  | 15  



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##### Table of Contents

PART I. FINANCIAL INFORMATION



ITEM 1. FINANCIAL STATEMENTS



CCF HOLDING COMPANY AND SUBSIDIARY

Consolidated Balance Sheets



|                                                                                                                                                      |  |                   |             |   |                  |             |  
|----------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------- | ----------- | - | ---------------- | ----------- | -
|                                                                                                                                                      |  | September 30,2005 |             |   | December 31,2004 |            
|                                                                                                                                                      |  | (Unaudited)       |             |   | (Audited)        |            
|Assets                                                                                                                                                |  |                   |             |   |                  |             |  
|Cash and due from banks                                                                                                                               |  | $                 | 13,606,005  |   |                  | 8,951,947   |  
|Interest-bearing deposits in other financial institutions                                                                                             |  |                   | 1,087,027   |   |                  | 5,006,613   |  
|Federal funds sold                                                                                                                                    |  |                   | 2,542,000   |   |                  | 6,513,370   |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Cash and cash equivalents                                                                                                                             |  |                   | 17,235,032  |   |                  | 20,471,930  |  
|                                                                                                                                                      |  |                  
|Interest-bearing time deposits in other financial institutions                                                                                        |  |                   |            |   |                  | 99,000      |  
|Investment securities available-for-sale                                                                                                              |  |                   | 45,763,090  |   |                  | 41,638,558  |  
|Federal Home Loan Bank stock, at cost                                                                                                                 |  |                   | 1,129,100   |   |                  | 1,265,000   |  
|Loans, net                                                                                                                                            |  |                   | 279,077,771 |   |                  | 256,770,581 |  
|Premises and equipment, net                                                                                                                           |  |                   | 7,926,580   |   |                  | 8,279,046   |  
|Accrued interest receivable                                                                                                                           |  |                   | 1,627,682   |   |                  | 1,242,191   |  
|Cash surrender value of life insurance                                                                                                                |  |                   | 5,090,787   |   |                  | 4,884,520   |  
|Other assets                                                                                                                                          |  |                   | 4,893,334   |   |                  | 5,495,885   |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Total assets                                                                                                                                          |  | $                 | 362,743,376 |   |                  | 340,146,711 |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Liabilities and Shareholders Equity                                                                                                                  |  |                   |             |   |                  |             |  
|Deposits:                                                                                                                                             |  |                   |             |   |                  |             |  
|Noninterest-bearing deposits                                                                                                                          |  | $                 | 45,288,526  |   |                  | 31,281,774  |  
|Interest-bearing demand deposits                                                                                                                      |  |                   | 132,701,261 |   |                  | 112,078,288 |  
|Savings accounts                                                                                                                                      |  |                   | 6,282,577   |   |                  | 7,328,745   |  
|Time deposits less than $100,000                                                                                                                      |  |                   | 93,335,472  |   |                  | 101,658,533 |  
|Time deposits greater than $100,000                                                                                                                   |  |                   | 37,756,956  |   |                  | 36,930,554  |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Total deposits                                                                                                                                        |  |                   | 315,364,792 |   |                  | 289,277,894 |  
|                                                                                                                                                      |  |                  
|Securities sold under agreement to repurchase                                                                                                         |  |                   | 2,370,206   |   |                  | 2,703,607   |  
|Federal Home Loan Bank advances                                                                                                                       |  |                   | 10,000,000  |   |                  | 15,000,000  |  
|Junior subordinated debentures                                                                                                                        |  |                   | 8,765,000   |   |                  | 8,765,000   |  
|Accrued interest payable and other liabilities                                                                                                        |  |                   | 2,927,795   |   |                  | 2,462,378   |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Total liabilities                                                                                                                                     |  |                   | 339,427,793 |   |                  | 318,208,879 |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Commitments                                                                                                                                           |  |                   |             |   |                  |             |  
|Shareholders 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; 2,347,596 issued and outstanding in 2005; 2,239,019 shares issued and outstanding
in 2004. |  |                   | 234,759     |   |                  | 223,902     |  
|Additional paid-in capital                                                                                                                            |  |                   | 9,121,899   |   |                  | 9,158,182   |  
|Retained earnings                                                                                                                                     |  |                   | 14,253,529  |   |                  | 12,587,130  |  
|Accumulated other comprehensive loss                                                                                                                  |  |                   | (294,604    | ) |                  | (31,382     | )
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Total shareholders equity                                                                                                                            |  |                   | 23,315,583  |   |                  | 21,937,832  |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  
|Total liabilities and shareholders equity                                                                                                            |  | $                 | 362,743,376 |   |                  | 340,146,711 |  
|                                                                                                                                                      |  |                   |             |   |                  |             |  



See accompanying notes to unaudited
consolidated financial statements.



1



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##### Table of Contents

CCF HOLDING COMPANY AND SUBSIDIARY

Consolidated Statements of Earnings

(Unaudited)



|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|-------------------------------------------------------------------------------- |  | ------------------------------- | --------- | ---- | ------------------------------ | - | ---- | ---------- | - | ---- | ----------
|                                                                                 |  | Three months endedSeptember 30, |           |      | Nine months endedSeptember 30,
|                                                                                 |  | 2005                            |           | 2004 |                                |   | 2005 |            |   | 2004
|Interest and dividend income:                                                    |  |                                 |           |      |                                |   |      |            |   |      |           
|Interest and fees on loans                                                       |  | $                               | 5,295,752 |      | 4,146,417                      |   |      | 14,707,887 |   |      | 12,417,715
|Interest-bearing deposits in other financial institutions and federal funds sold |  |                                 | 107,303   |      | 30,170                         |   |      | 262,499    |   |      | 91,291    
|Interest and dividends on taxable investment securities                          |  |                                 | 372,443   |      | 349,190                        |   |      | 1,035,261  |   |      | 926,453   
|Interest on nontaxable investment securities                                     |  |                                 | 52,485    |      | 47,440                         |   |      | 152,055    |   |      | 130,974   
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Total interest and dividend income                                               |  |                                 | 5,827,983 |      | 4,573,217                      |   |      | 16,157,702 |   |      | 13,566,433
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Interest expense:                                                                |  |                                 |           |      |                                |   |      |            |   |      |           
|Deposit accounts                                                                 |  |                                 | 1,758,203 |      | 1,244,843                      |   |      | 4,853,767  |   |      | 3,549,978 
|Other borrowings                                                                 |  |                                 | 214,770   |      | 165,615                        |   |      | 620,156    |   |      | 489,130   
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Total interest expense                                                           |  |                                 | 1,972,973 |      | 1,410,458                      |   |      | 5,473,923  |   |      | 4,039,108 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Net interest income                                                              |  |                                 | 3,855,010 |      | 3,162,759                      |   |      | 10,683,779 |   |      | 9,527,325 
|                                                                                 |  |                                 |           |     
|Provision for loan losses                                                        |  |                                 | 135,000   |      | 180,000                        |   |      | 405,000    |   |      | 770,000   
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Net interest income after provision for loan losses                              |  |                                 | 3,720,010 |      | 2,982,759                      |   |      | 10,278,779 |   |      | 8,757,325 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Other income:                                                                    |  |                                 |           |      |                                |   |      |            |   |      |           
|Service charges on deposit accounts                                              |  |                                 | 352,886   |      | 293,015                        |   |      | 925,140    |   |      | 845,533   
|Gain on sale of loans                                                            |  |                                 | 114,700   |      |                               |   |      | 545,757    |   |      | 570,868   
|Gain on sale of fixed assets                                                     |  |                                 |          |      |                               |   |      |           |   |      | 13,692    
|(Loss) gain on sale of investment securities                                     |  |                                 |          |      | (880                           | ) |      | (23,090    | ) |      | 645       
|Other                                                                            |  |                                 | 178,461   |      | 164,781                        |   |      | 529,182    |   |      | 494,995   
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Total other income                                                               |  |                                 | 646,047   |      | 456,916                        |   |      | 1,976,989  |   |      | 1,925,733 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Other expenses:                                                                  |  |                                 |           |      |                                |   |      |            |   |      |           
|Salaries and employee benefits                                                   |  |                                 | 1,668,913 |      | 1,515,184                      |   |      | 5,059,700  |   |      | 4,462,282 
|Occupancy                                                                        |  |                                 | 500,009   |      | 475,652                        |   |      | 1,442,378  |   |      | 1,322,337 
|Loss on Other Real Estate Owned                                                  |  |                                 | 839,270   |      | 29,344                         |   |      | 810,147    |   |      | 74,153    
|Other                                                                            |  |                                 | 592,530   |      | 531,192                        |   |      | 1,808,895  |   |      | 1,598,510 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Total other expenses                                                             |  |                                 | 3,600,722 |      | 2,551,372                      |   |      | 9,121,120  |   |      | 7,457,282 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Earnings before income taxes                                                     |  |                                 | 765,335   |      | 888,303                        |   |      | 3,134,648  |   |      | 3,225,776 
|                                                                                 |  |                                 |           |     
|Income tax expense                                                               |  |                                 | 235,480   |      | 278,775                        |   |      | 989,280    |   |      | 1,040,210 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Net earnings                                                                     |  | $                               | 529,855   |      | 609,528                        |   |      | 2,145,368  |   |      | 2,185,566 
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Basic earnings per share                                                         |  | $                               | 0.23      |      | 0.27                           |   |      | 0.93       |   |      | 0.99      
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           
|Diluted earnings per share                                                       |  | $                               | 0.22      |      | 0.26                           |   |      | 0.88       |   |      | 0.93      
|                                                                                 |  |                                 |           |      |                                |   |      |            |   |      |           



See accompanying notes to unaudited
consolidated financial statements.



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##### Table of Contents

CCF HOLDING COMPANY AND SUBSIDIARY

Consolidated Statements of Comprehensive Income

(Unaudited)



|                                                                               |  |                                 |          |   |                                |           |   |      |           |   |      |           |  
|------------------------------------------------------------------------------ |  | ------------------------------- | -------- | - | ------------------------------ | --------- | - | ---- | --------- | - | ---- | --------- | -
|                                                                               |  | Three months endedSeptember 30, |          |   | Nine months endedSeptember 30, |          
|                                                                               |  | 2005                            |          |   | 2004                           |           |   | 2005 |           |   | 2004 |          
|Net earnings                                                                   |  | $                               | 529,855  |   |                                | 609,528   |   |      | 2,145,368 |   |      | 2,185,566 |  
|                                                                               |  |                                 |          |  
|Other comprehensive (loss) income:                                             |  |                                 |          |   |                                |           |   |      |           |   |      |           |  
|Unrealized holding (losses) gains on investment securities available-for-sale: |  |                                 | (313,041 | ) |                                | 605,703   |   |      | (421,912  | ) |      | (140,897  | )
|Associated taxes                                                               |  |                                 | 106,434  |   |                                | (205,939  | ) |      | 143,450   |   |      | 50,719    |  
|                                                                               |  |                                 |          |  
|Reclassification adjustment for losses (gains) included in earnings            |  |                                 |         |   |                                | 880       |   |      | 23,090    |   |      | (645      | )
|Associated taxes                                                               |  |                                 |         |   |                                | (317      | ) |      | (7,850    | ) |      | 232       |  
|                                                                               |  |                                 |          |   |                                |           |   |      |           |   |      |           |  
|Total other comprehensive (loss) income                                        |  |                                 | (206,607 | ) |                                | 400,327   |   |      | (263,222  | ) |      | (90,591   | )
|                                                                               |  |                                 |          |   |                                |           |   |      |           |   |      |           |  
|Total comprehensive income                                                     |  | $                               | 323,268  |   |                                | 1,009,855 |   |      | 1,882,146 |   |      | 2,094,975 |  
|                                                                               |  |                                 |          |   |                                |           |   |      |           |   |      |           |  



See accompanying notes to unaudited
consolidated financial statements.



3



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##### Table of Contents

CCF HOLDING COMPANY AND SUBSIDIARY

Consolidated Statements of Cash Flows

(Unaudited)



|                                                                                              |  |                                |             |   |      |             |  
|--------------------------------------------------------------------------------------------- |  | ------------------------------ | ----------- | - | ---- | ----------- | -
|                                                                                              |  | Nine months endedSeptember 30, |            
|                                                                                              |  | 2005                           |             |   | 2004 |            
|Cash flows from operating activities:                                                         |  |                                |             |   |      |             |  
|Net earnings                                                                                  |  | $                              | 2,145,368   |   |      | 2,185,566   |  
|Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: |  |                                |             |   |      |             |  
|Provision for loan losses                                                                     |  |                                | 405,000     |   |      | 770,000     |  
|Depreciation, amortization, and accretion, net                                                |  |                                | 553,008     |   |      | 505,515     |  
|Net loss (gain) on sale of investment securities                                              |  |                                | 23,090      |   |      | (645        | )
|Net write down and sales of real estate owned                                                 |  |                                | 810,147     |   |      | 74,153      |  
|Net gain on sale of premises and equipment                                                    |  |                                | (2,355      | ) |      | (13,692     | )
|Net gain on sale of loans                                                                     |  |                                | (545,757    | ) |      | (570,868    | )
|Increase in cash surrender value of life insurance                                            |  |                                | (206,267    | ) |      | (199,524    | )
|Change in:                                                                                    |  |                                |             |   |      |             |  
|Accrued interest receivable and other assets                                                  |  |                                | (366,112    | ) |      | (398,709    | )
|Accrued interest payable and other liabilities                                                |  |                                | 287,349     |   |      | (2,560,879  | )
|                                                                                              |  |                                |             |   |      |             |  
|Net cash provided by (used in) operating activities                                           |  |                                | 3,103,471   |   |      | (209,086    | )
|                                                                                              |  |                                |             |   |      |             |  
|Cash flows from investing activities:                                                         |  |                                |             |   |      |             |  
|Proceeds from maturing investment securities available-for-sale                               |  |                                | 3,386,847   |   |      | 15,462,842  |  
|Purchases of investment securities available-for-sale                                         |  |                                | (10,938,245 | ) |      | (25,244,401 | )
|Proceeds from sales of investment securities available-for-sale                               |  |                                | 2,976,910   |   |      | 2,905,520   |  
|Proceeds from maturities of time deposits in other financial institutions                     |  |                                | 99,000      |   |      | 1,287,075   |  
|Proceeds from redemption of Federal Home Loan Bank stock                                      |  |                                | 675,000     |   |      | 250,000     |  
|Purchase of Federal Home Loan Bank stock                                                      |  |                                | (539,100    | ) |      |            |  
|Loan originations, net                                                                        |  |                                | (38,770,011 | ) |      | (35,220,913 | )
|Proceeds from sales of real estate owned                                                      |  |                                | 1,011,143   |   |      | 265,947     |  
|Proceeds from sale of loans                                                                   |  |                                | 15,507,195  |   |      | 5,696,844   |  
|Purchases of premises and equipment                                                           |  |                                | (176,279    | ) |      | (1,830,227  | )
|                                                                                              |  |                                |             |   |      |             |  
|Net cash used in investing activities                                                         |  |                                | (26,767,540 | ) |      | (36,427,313 | )
|                                                                                              |  |                                |             |   |      |             |  
|Cash flows from financing activities:                                                         |  |                                |             |   |      |             |  
|Net increase in deposit accounts                                                              |  |                                | 26,086,898  |   |      | 43,892,285  |  
|Net (decrease) increase in securities sold under agreements to repurchase                     |  |                                | (333,401    | ) |      | 1,373,132   |  
|Repayments of Federal Home Loan Bank advances                                                 |  |                                | (5,000,000  | ) |      | (5,000,000  | )
|Proceeds from the issuance of junior subordinated debentures                                  |  |                                |            |   |      | 4,500,000   |  
|Dividends paid                                                                                |  |                                | (300,901    | ) |      | (311,261    | )
|Proceeds from exercise of stock options                                                       |  |                                | 769,873     |   |      | 200,030     |  
|Common stock repurchased, exchanged and retired                                               |  |                                | (795,298    | ) |      |            |  
|                                                                                              |  |                                |             |   |      |             |  
|Net cash provided by financing activities                                                     |  |                                | 20,427,171  |   |      | 44,654,186  |  
|                                                                                              |  |                                |             |   |      |             |  
|Change in cash and cash equivalents                                                           |  |                                | (3,236,898  | ) |      | 8,017,787   |  
|                                                                                              |  |                               
|Cash and cash equivalents at beginning of period                                              |  |                                | 20,471,930  |   |      | 14,005,728  |  
|                                                                                              |  |                                |             |   |      |             |  
|Cash and cash equivalents at end of period                                                    |  | $                              | 17,235,032  |   |      | 22,023,515  |  
|                                                                                              |  |                                |             |   |      |             |  
|Supplemental disclosure of cash flow information:                                             |  |                                |             |   |      |             |  
|                                                                                              |  |                               
|Interest paid                                                                                 |  | $                              | 5,453,498   |   |      | 2,953,139   |  
|                                                                                              |  |                                |             |   |      |             |  
|Income taxes paid                                                                             |  | $                              | 689,206     |   |      | 1,141,500   |  
|                                                                                              |  |                                |             |   |      |             |  



See accompanying notes to unaudited
consolidated financial statements.



4



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##### Table of Contents

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, 2005, and 2004 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 periods ended September 30, 2005, are not necessarily indicative of the results for the entire year ending December 31, 2005.



2. 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. Under Opinion No. 25, stock
options issued under the Companys stock option plan have no intrinsic value at the grant date and, as such, no compensation cost is recognized. The Company has elected to continue with the accounting methodology in Opinion No. 25 and, as
such, has provided pro forma disclosures of net earnings and earnings per share and other disclosures, as if the fair value method of accounting had been applied. Had compensation cost for the Companys employee stock option plan been
determined based upon the fair value of the options at the grant dates, the Companys net earnings and net earnings per share for the three and nine month periods ended September 30, 2005, and September 30, 2004, would have been
reduced to the pro forma amounts indicated below:



|                            |  |                                                                                                                     |         |                            |         |                           |           |                   |           |                   |       
|--------------------------- |  | ------------------------------------------------------------------------------------------------------------------- | ------- | -------------------------- | ------- | ------------------------- | --------- | ----------------- | --------- | ----------------- | ------
|                            |  |                                                                                                                     |         | For the three months ended |         | For the nine months ended
|                            |  |                                                                                                                     |         | September 30,2005          |         | September 30,2004         |           | September 30,2005 |           | September 30,2004
|Net earnings as reported    |  | $                                                                                                                   | 529,855 |                            | 609,528 |                           | 2,145,368 |                   | 2,185,566
|                            |  |                                                                                                                     |         |                            |        
|Deduct:                     |  | Total stock based employee compensation expense determined under fair-value based method for all awards, net of tax |         |                            | 56,422  |                           | 23,884    |                   | 169,266   |                   | 71,562
|                            |  |                                                                                                                     |         |                            |         |                           |           |                   |           |                   |       
|Pro forma net earnings      |  | $                                                                                                                   | 473,433 |                            | 585,644 |                           | 1,976,102 |                   | 2,114,004
|                            |  |                                                                                                                     |         |                            |         |                           |           |                   |           |                   |       
|Basic earnings per share:   |  |                                                                                                                     |         |                            |         |                           |           |                   |          
|                            |  | As reported                                                                                                         |         | $                          | 0.23    |                           | 0.27      |                   | 0.93      |                   | 0.99  
|                            |  | Pro forma                                                                                                           |         | $                          | 0.20    |                           | 0.26      |                   | 0.85      |                   | 0.75  
|                            |  |                                                                                                                     |         |                           
|Diluted earnings per share: |  |                                                                                                                     |         |                            |         |                           |           |                   |          
|                            |  | As reported                                                                                                         |         | $                          | 0.22    |                           | 0.26      |                   | 0.88      |                   | 0.93  
|                            |  | Pro forma                                                                                                           |         | $                          | 0.19    |                           | 0.25      |                   | 0.81      |                   | 0.90  



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The difference between the net earnings as reported and pro forma is the expense associated with the option grants, which
would have been earned in the period. This expense was calculated based on the number of options vested during the period multiplied by the fair value of the respective option at the time of grant, net of tax effect.



3. 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, 2004, filed with the Securities and Exchange Commission (the SEC).



4. Reclassification



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



5. Earnings per share



Basic earnings per share are based on the weighted average number of common shares
outstanding during the period while the effects of potential shares outstanding during the period are included in diluted earnings per share. The reconciliation of the amounts used in the computation of both basic earnings per share and
diluted earnings per share for each period is presented as follows:



For the three months ended September 30, 2005



|                                 |  |             |         |              |           |                 |   |       |  
|-------------------------------- |  | ----------- | ------- | ------------ | --------- | --------------- | - | ----- | -
|                                 |  | NetEarnings |         | CommonShares |           | Per ShareAmount |  
|Basic earnings per share         |  | $           | 529,855 |              | 2,342,792 |                 | $ | 0.23  |  
|                                 |  |             |        
|Effect of dilutive common stock: |  |             |         |              |           |                 |   |       |  
|Stock options                    |  |             |        |              | 115,484   |                 | $ | (0.01 | )
|                                 |  |             |         |              |           |                 |   |       |  
|Diluted earnings per share       |  | $           | 529,855 |              | 2,458,276 |                 | $ | 0.22  |  
|                                 |  |             |         |              |           |                 |   |       |  



For the three months
ended September 30, 2004



|                                 |  |             |         |              |           |                 |   |       |  
|-------------------------------- |  | ----------- | ------- | ------------ | --------- | --------------- | - | ----- | -
|                                 |  | NetEarnings |         | CommonShares |           | Per ShareAmount |  
|Basic earnings per share         |  | $           | 609,528 |              | 2,232,049 |                 | $ | 0.27  |  
|                                 |  |             |        
|Effect of dilutive common stock: |  |             |         |              |           |                 |   |       |  
|Stock options                    |  |             |        |              | 100,152   |                 | $ | (0.01 | )
|                                 |  |             |         |              |           |                 |   |       |  
|Diluted earnings per share       |  | $           | 609,528 |              | 2,332,201 |                 | $ | 0.26  |  
|                                 |  |             |         |              |           |                 |   |       |  



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##### Table of Contents

For the nine months ended September 30, 2005



|                                 |  |             |           |              |           |                 |   |       |  
|-------------------------------- |  | ----------- | --------- | ------------ | --------- | --------------- | - | ----- | -
|                                 |  | NetEarnings |           | CommonShares |           | Per ShareAmount |  
|Basic earnings per share         |  | $           | 2,145,368 |              | 2,314,268 |                 | $ | 0.93  |  
|                                 |  |             |          
|Effect of dilutive common stock: |  |             |           |              |           |                 |   |       |  
|Stock options                    |  |             |          |              | 130,749   |                 | $ | (0.05 | )
|                                 |  |             |           |              |           |                 |   |       |  
|Diluted earnings per share       |  | $           | 2,145,368 |              | 2,445,017 |                 | $ | 0.88  |  
|                                 |  |             |           |              |           |                 |   |       |  



For the nine months
ended September 30, 2004



|                                 |  |             |           |              |           |                 |   |       |  
|-------------------------------- |  | ----------- | --------- | ------------ | --------- | --------------- | - | ----- | -
|                                 |  | NetEarnings |           | CommonShares |           | Per ShareAmount |  
|Basic earnings per share         |  | $           | 2,185,566 |              | 2,215,023 |                 | $ | 0.99  |  
|                                 |  |             |          
|Effect of dilutive common stock: |  |             |           |              |           |                 |   |       |  
|Stock options                    |  |             |          |              | 125,290   |                 | $ | (0.06 | )
|                                 |  |             |           |              |           |                 |   |       |  
|Diluted earnings per share       |  | $           | 2,185,566 |              | 2,340,313 |                 | $ | 0.93  |  
|                                 |  |             |           |              |           |                 |   |       |  



6. Dividends Payable



On September 21, 2005, the Company announced a $0.075 per share cash
dividend payable to shareholders of record on October 7, 2005, with a payment date of October 24, 2005.



ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS



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 10-QSB), 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 such 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, 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



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##### Table of Contents

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 and acquisitions; managing credit risk; changes in consumer spending and saving habits; the impact of the war on
terrorism; 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.



The Company conducts its business primarily through its
wholly-owned subsidiary, Heritage Bank, (the Bank), a state chartered commercial bank organized under the laws of the State of Georgia.



Comparison of Financial Condition at September 30, 2005 and December 31, 2004



Assets - The Companys total assets increased by 6.6%, or $22.6 million, from $340.1 million at December 31, 2004, to
$362.7 million at September 30, 2005. Net loans increased 8.7% to $279.1 million at September 30, 2005, an increase of $22.3 million from $256.8 million at December 31, 2004. The Companys loan growth was primarily in commercial
loans secured by real estate, which increased 17.7%, or $24.6 million. This increase in commercial real estate loans was partially offset by a decline in the outstanding balances of indirect consumer loans and commercial revolving lines of credit.
Investment securities available for sale increased $4.1 million, or 9.9%, from $41.6 million at December 31, 2004, to $45.7 million at September 30, 2005. The Bank invested funds held on deposit into various higher yielding bonds,
primarily Federal Home Loan Bank agency bonds.



Liabilities - Total
deposits at September 30, 2005, were $315.4 million, an increase of $26.1 million, or 9.0%, from $289.3 million at December 31, 2004. The Company had growth in transaction accounts of $34.6 million, or 24.2%, from $143.4 million at
December 31, 2004 to $178.0 million at September 30, 2005. Transaction accounts include non-interest-bearing demand deposit accounts, NOW accounts and money market accounts. Non-interest-bearing accounts increased by $14.0 million, or
44.8% from $31.3 million at December 31, 2004, to $45.3 million at September 30, 2005. The Bank continues to stress transaction account growth in its marketing strategy, which is directed primarily toward small business customers. As a
part of this strategy, the Bank introduced a new commercial money market account product during the first quarter of 2005. At September 30, 2005, these new accounts had balances of $23.8 million. Time and savings deposits decreased during the
nine-month period from $145.9 million at December 31, 2004, to $137.4 million at September 30, 2005, a decrease of 5.8%, or $8.5 million. The decrease in time deposits was primarily due to the liquidation of the non-brokered certificates
of deposit that had been generated over the internet during 2004. These deposits were short-term duration from financial institutions across the nation. The decrease was intentional, as transaction account balances replaced these balances.
Repurchase agreement balances decreased $333,000, or 12.3%, from $2.7 million at December 31, 2004, to $2.4 million at September 30, 2005. The Bank reduced its Federal Home Loan Bank advances by $5.0 million, from $15.0 million at
December 31, 2004, to $10.0 million at September 30, 2005.



Shareholders Equity  Total shareholders equity increased $1.4 million, or 6.3%, from $21.9 million at December 31, 2004, to $23.3 million at September 30, 2005. This increase was the result of the
Companys net earnings for the nine-month period of $2.1 million, which was partially offset by the payment of cash dividends to shareholders of $0.06 per share in March, $0.07 per share in June 2005, and $0.075 per share in September 2005,
cumulatively totaling $479,000. The remainder of the change reflects the change in fair value of the Banks available-for-sale investment portfolio, which affects other comprehensive income. The ratio of total shareholders equity as a
percentage of total assets was 6.43% at September 30, 2005 and 6.45% at December 31, 2004. Book value per share increased from $9.80 at December 31, 2004, to $9.93 at September 30, 2005. During the nine-month period, 148,616
options were exercised and 40,039 shares were repurchased or exchanged and retired. These actions caused a net increase of common shares outstanding of 109,139.



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Comparison of Operating Results for the Three- and Nine- Months Ended September 30, 2005, and September 30,
2004



Net Earnings - The Company had net earnings of $530,000 for
the three-month period ended September 30, 2005, compared to net earnings of $610,000 for the same three-month period in 2004. This represented a decrease in net earnings of $80,000, or 13.1%. Net earnings decreased by $40,000, or 1.8%, from
$2.185 million to $2.145 million, for the nine months ended September 30, 2005, as compared to the nine months ended September 30, 2004. The three- and nine-month periods ending September 30, 2005, include a one-time pre-tax charge
taken in the third quarter of 2005 to cover an impairment recognized in the Banks other real estate holdings. This amounted to an after tax income effect of $540,000.



Net Interest Income - Net interest income increased by $692,000, or 21.9%, from $3.2 million in the three months ended
September 30, 2004 to $3.9 million in the three months ended September 30, 2005. For the nine-month period ending September 30, 2005, net interest income increased by 12.1%, or $1.2 million. The margin for the nine months ended
September 30, 2005, increased to 4.37%, from 4.15% in the nine months ended September 30, 2004. In the short term, due to a positive gap position and an asset sensitive balance sheet, the Bank will experience an increase in net interest
income during a rising rate environment. Interest and fees on loans increased $2.3 million from $12.4 million in the nine month period ending September 30, 2004; to $14.7 million in the nine month period ending September 30, 2005. Interest
expense on deposit accounts increased by $1.3 million from $3.5 million in the nine month period ending September 30, 2004 to $4.8 million in the nine month period ending September 30, 2005. For the three month period ending
September 30, 2005, interest and fees on loans increased to $5.3 million, an increase of $1.1 million, or 27.7%, over the $4.1 million earned in the three months ending September 30, 2004. The Bank has been able to slow interest expense
increases during the increasing rate environment as its dependency on time accounts lessened.



The net interest income increase was partially offset by an increase in interest expense on the Companys subordinated debentures that were issued in connection with its trust-preferred securities. This expense
increased from $236,000, for the nine month period ending September 30, 2004, to $393,000, for the nine month period ending September 30, 2005. The three month period ending September 30, 2005, had interest expense on the debentures
of $144,000, an increase of $50,000 or 53.5%, from $94,000 in the three months ending September 30, 2004. The increase in this expense is due to the increases in the prime rate, and the corresponding increase in the interest rate on the
debentures as it is tied to the prime rate. This increase also is attributable in part to an increase in the average outstanding balance of the debentures resulting from the Companys issuance of an additional $4.3 million of trust preferred
securities in March 2004.



Provision for Loan Losses - The provision for
loan losses for the nine months ending September 30, 2005, was $405,000, a decrease of $365,000, or 47.4%, over the same nine-month period in 2004, which had a provision expense of $770,000. At September 30, 2005, the allowance for loan
losses was $3.3 million or 1.17% of loans outstanding and at September 30, 2004, the allowance was $3.2 million, or 1.25% of loans outstanding. At December 31, 2004, the allowance for loan losses was $3.2 million, or 1.21% of loans
outstanding.



Loans internally classified as substandard at September 30,
2005, totaled $1.5 million as compared to $5.0 million at September 30, 2004 and $3.8 million at December 31, 2004. There were no doubtful loans at September 30, 2005; however, loans totaling $756,000 were classified as doubtful at
September 30, 2004 and $740,000 of loans was classified as doubtful at December 31, 2004. The decrease in loans classified as substandard and doubtful is primarily due to the transfer of $3.3 million in loan balances,



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secured by real estate, to Other Real Estate during the quarter ended March 31, 2005. One property was sold during
the first quarter of 2005. The two remaining properties had balances of $2.2 million and $812,500 at September 30, 2005. The $2.2 million is the balance after the write down which was discussed in the September 26, 2005 press release. This
write down is reflected in the current quarters earnings. The $812,500 is the remaining book balance of a loan reported as non-performing in June 2005. The Bank foreclosed on this property and obtained ownership in September 2005. After
charging a loss of $170,000 against the loan loss reserve on the non-guaranteed portion of the debt, the Banks remaining book balance of $812,500 was transferred to other real estate owned. The United States Department of Agriculture, the
USDA guarantee on this asset is $382,500 and the Banks net exposure is $430,000. See Other Important Subsequent Events for a discussion of the subsequent sale of this property.



Substandard loans at September 30, 2005, consisted primarily of one commercial
relationship, totaling $663,000, which is secured by first mortgages on single-family residential rental properties. Non-accrual loans totaled $46,000 at September 30, 2005 compared to $756,000 at September 30, 2004 and $852,000 at
December 31, 2004. The relationship that was listed on non-accrual in 2004 is the same relationship represented at September 30, 2005, by the $812,500 balance in other real estate.



Net loan charge-offs during the nine-month period ending September 30, 2005, totaled
$258,000, representing 0.09% of net loans outstanding. For the nine-month period ending September 30, 2004, net charge-offs totaled $243,000, also representing 0.09% of net loans outstanding. Past due loans at September 30, 2005, were
0.97% of loans outstanding, as compared to September 30, 2004, when past dues loans were 1.05% of loans outstanding.



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 the 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, and the continued expected changing
mix of loans in the loan portfolio.



Other Income  Service charges
on deposit accounts for the nine-month period ending September 30, 2005, were $925,000, an increase of $80,000, or 9.4% over the nine-month period ending September 30, 2004. For the three-month period, service charges increased $60,000, or
20.4%. The increase is attributed to the increase in transaction accounts combined with the implementation of a new courtesy overdraft product.



The Bank enhanced its mortgage origination department and as a result, generated fees of $46,000 in the nine-month period ending September 30, 2005, as compared to
fees of $8,000 for the nine-month period ending September 30, 2004. Commissions on the sales of investment products for the nine months ending September 30, 2005, totaled $153,000, representing an increase of $28,000, or 22.0%, over the
same period in 2004.



Other income has been affected by the gains on sale of
loans. For the nine-month period ending September 30, 2004, net gains on loan sales was $571,000, with $422,000 of this amount resulting from the gain on the sale of one loan guaranteed by the USDA. During the nine-month period ending
September 30, 2005, gains of $546,000 were reflected in other income; however, these gains are the result of the sales of nine SBA guaranteed loans. For the three-month period ending September 30, 2005, gains on sales of SBA loans totaled
$115,000. The three-month period ending September 20, 3005 had no gains on sales of loans.



Other Expenses - Other expenses of $9.1 million for the nine-month period ended September 30, 2005, increased $1.7 million, or 22.3%, from $7.4 million for the nine-month period ended September 30,
2004.



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Included in this increase are salaries and employee benefits that increased $597,000, or 13.4%, to $5.1 million for the
nine-month period ended September 30, 2005, from $4.5 million during the same nine-month period in 2004. Salaries increased for the nine-month period ending September 30, 2005, due in part to the opening of the Eagles Landing branch in
Stockbridge, Georgia in August 2004. Additional increases in salaries are due to the hiring of two loan production officers during the second quarter of 2005, and to annual raises, which averaged 3%. Benefits expense include an increased incentive
accrual of $256,000, which will more evenly spread the expense throughout the year, compared to 2004 when it was recognized in the fourth quarter. Additionally, the Bank had an increase in State of Georgia unemployment tax expense for 2004 and 2005.
The additional 2004 expense of $35,000 was not realized until March of 2005. When combined with the increase for 2005 of $36,000, total additional expense for this category was $71,000 in the first nine months of 2005.



For the three-month period ended September 30, 2005, other expenses, net of the
write-down of $835,000 discussed earlier, increased $214,000, or 8.4%. Of this increase, salaries and employee benefits increased $154,000, or 10.1% as explained above.



Liquidity and Capital Resources - The Banks short-term liquidity was 14.30% on September 30, 2005. The Bank is required to
maintain minimum levels of liquid assets as defined by State of Georgia and Federal Deposit Insurance Corporation regulations. The Bank continues to search for deposits and other means of meeting its loan demand, including the offering of trust
preferred securities. The Bank adjusts its liquidity level as appropriate to meet its asset/liability management objectives. The primary sources of funds are deposits, amortization and prepayments of loans and mortgage-backed securities, maturity of
investments, and funds provided from operations. As an alternative to supplement liquidity needs, the Bank has the ability to borrow from the Federal Home Loan Bank of Atlanta and other correspondent banks. These commitments totaled $52.3 million at
September 30, 2005, with $10.0 million drawn. In addition, the Bank has identified $10.0 million of unpledged bonds that can be used as additional collateral for secured borrowings. Scheduled loan amortization and maturing investment securities
are a relatively predictable source of funds, however, deposit flow and loan prepayments are greatly influenced by, among other things, market interest rates, economic conditions, and competition. The Banks liquidity, represented by cash, cash
equivalents, and securities available-for-sale, is a product of its operating, investing, and financing activities.



Off Balance Sheet Risk Through its operations, the Bank has made contractual commitments to extend credit in the ordinary course of its business activities.
These commitments are legally binding agreements to lend money to the Banks customers at predetermined interest rates for a specified period of time. At September 30, 2005, the Bank had issued commitments to extend credit of $65.9 million
through various types of lending arrangements. The Bank evaluates each customers credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on its credit
evaluation of the borrower. Collateral varies but may include accounts receivable, inventory, property, plant and equipment, and commercial and residential real estate.



Capital Ratios - Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to
maintain minimum amounts and ratios of total and Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. As of September 30, 2005, the most recent notification from the Federal Deposit Insurance Corporation categorized
the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the Banks capital category.



As of September 30, 2005, total risk based capital ratios were 10.87% for the Bank and
11.56% for the consolidated Company. Tier 1 capital to risk weighted assets was 9.79% for the Bank and 9.56% for the consolidated Company. The Tier 1 capital to average asset ratio (leverage ratio) was 8.41% for the Bank and 8.23% for the
consolidated Company.



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##### Table of Contents

Other Important Subsequent Events On November 3, 2005, the Bank closed the sale of the Other Real
Estate asset discussed above in the Provision for Loan Loss section. Proceeds from the sale will be allocated to fully pay off the Banks portion, $430,000, of the asset. The remaining guaranteed balance of $382,500 as mentioned above will be
moved to a receivable pending final resolution and repayment from the USDA.



ITEM 3. CONTROLS AND PROCEDURES



During the
quarterly period covered by this report, the Company, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, carried out an evaluation of the effectiveness of the design
and operation of the Companys disclosure controls and procedures. Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective in ensuring that material
information relating to the Company, including our consolidated Subsidiary, is made known to them by others within those entities, particularly during the period in which this quarterly report was being prepared. There were no significant changes in
our internal controls or in other factors that could significantly affect these controls subsequent to the date of the evaluation.



12



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PART II. OTHER INFORMATION



ITEM 1. LEGAL PROCEEDINGS.



The Company is
a party to certain legal proceedings, however, it does not anticipate that any such proceedings will have any material adverse effects on its financial condition or results of operation.



ITEM 2. UNREGISTERED SALES OF EQUITY 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



The
following exhibits are filed with this report.



| | 31.1 | Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
| | ---- | ------------------------------------------------------------------------------------------------------



| | 31.2 | Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
| | ---- | ------------------------------------------------------------------------------------------------------



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



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



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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 14, 2005 |  | BY:                 |  | /s/ David B. Turner                           
|                        |  | Name:               |  | David B. Turner                               
|                        |  | Title:              |  | President and Chief Executive Officer         
|                        |  |                    
|Date: November 14, 2005 |  | BY:                 |  | /s/ Mary Jo Rogers                            
|                        |  | Name:               |  | Mary Jo Rogers                                
|                        |  | Title:              |  | Sr. Vice President and Chief Financial
Officer



14