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| FLORIDA                                                                                                                                                                                                                                                                                                                                                                                                                                   |                                                                                                                                         | 65-0655973                           |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization)                                                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                         | (I.R.S. Employer Identification No.) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| 599 9th STREET NORTH, SUITE 101, NAPLES, FLORIDA 34102-5624                                                                                                                                                                                                                                                                                                                                                                               |
| (Address of principal executive offices) (Zip Code)                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      | (239) 263-3344                                                                                                                               |                                 |
| (Registrant’s telephone number, including area code)                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      | Not Applicable                                                                                                                               |                                 |
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 90days.  TYes   £No                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit and post such files).  £Yes   £No |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “accelerated filer”, “ large accelerated filer” and  “smaller reporting company” in Rule 12b-2 of the Exchange Act (Checkone):                                                                                |
| £ Large accelerated filer                                                                                                                                                                                                                                                                                                                                                                                                            | £ Accelerated filer                                                                                                                     |                                 |
|                     T Non-accelerated filer                                                                                                                                                                                                                                                                                           |                   £ Smaller reporting company |                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  £Yes    TNo                                                                                                                                                                                                                                                                          |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                      |                                                                                                                                         |                                 |
| Common Stock, $0.10 Par Value                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                         | 14,747,870                           |
| Class                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                                                                                                                         | Outstanding as of July 31, 2009      |

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INDEX

| PART I.  FINANCIAL INFORMATION           |          |
|---------------------------------------------------------|---------------|
|                                                    | ITEM 1.  | FINANCIAL STATEMENTS  | 3 |
|                                                    |          |   |   |
|  PART II.  OTHER INFORMATION   |          |
|                                                    | ITEM 6.       | EXHIBITS | 20 |
|                                                    |          |   |   |

Table of Contents

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Item 1.  Financial Statements

| TIB FINANCIAL CORP.CONSOLIDATED BALANCE SHEETS(Dollars in thousands, except per share data)                                                  |   |
|----------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                         |   | June 30, 2009 |   |   | December 31, 2008 |   |
|                                                                                                                                         |   | (Unaudited) |   |   |   |   |
| Assets                                                                                                                                       |   |   |   |   |   |   |
| Cash and due from banks                                                                                                                      |   | $ | 82,178 |   |   | $ | 69,607 |   |
| Federal funds sold and securities purchased under agreements to resell                                                                       |   |   | 14,684 |   |   |   | 4,127 |   |
| Cash and cash equivalents                                                                                                                    |   |   | 96,862 |   |   |   | 73,734 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Investment securities available for sale                                                                                                     |   |   | 358,452 |   |   |   | 225,770 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Loans, net of deferred loan costs and fees                                                                                                   |   |   | 1,239,711 |   |   |   | 1,224,975 |   |
| Less: Allowance for loan losses                                                                                                              |   |   | 25,446 |   |   |   | 23,783 |   |
| Loans, net                                                                                                                                   |   |   | 1,214,265 |   |   |   | 1,201,192 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                                  |   |   | 40,999 |   |   |   | 38,326 |   |
| Goodwill                                                                                                                                     |   |   | 6,361 |   |   |   | 5,160 |   |
| Intangible assets, net                                                                                                                       |   |   | 7,445 |   |   |   | 3,010 |   |
| Accrued interest receivable and other assets                                                                                                 |   |   | 72,697 |   |   |   | 62,922 |   |
| Total Assets                                                                                                                                 |   | $ | 1,797,081 |   |   | $ | 1,610,114 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ Equity                                                                                                   |   |   |   |   |   |   |   |   |
| Liabilities                                                                                                                                  |   |   |   |   |   |   |   |   |
| Deposits:                                                                                                                                    |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand                                                                                                                   |   | $ | 182,236 |   |   | $ | 128,384 |   |
| Interest-bearing                                                                                                                             |   |   | 1,212,582 |   |   |   | 1,007,284 |   |
| Total deposits                                                                                                                               |   |   | 1,394,818 |   |   |   | 1,135,668 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Federal Home Loan Bank (FHLB) advances                                                                                                       |   |   | 125,000 |   |   |   | 202,900 |   |
| Short-term borrowings                                                                                                                        |   |   | 84,114 |   |   |   | 71,423 |   |
| Long-term borrowings                                                                                                                         |   |   | 63,000 |   |   |   | 63,000 |   |
| Accrued interest payable and other liabilities                                                                                               |   |   | 18,181 |   |   |   | 16,009 |   |
| Total liabilities                                                                                                                            |   |   | 1,685,113 |   |   |   | 1,489,000 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                                   |   |   |   |   |   |   |   |   |
| Preferred stock – $.10 par value: 5,000,000 shares authorized, 37,000 shares issued and outstanding, liquidation preference of $37,000 |   |   | 33,354 |   |   |   | 32,920 |   |
| Common stock - $.10 par value: 40,000,000 shares authorized, 14,820,597 shares issued,  14,747,870 shares outstanding              |   |   | 1,482 |   |   |   | 1,482 |   |
| Additional paid in capital                                                                                                                   |   |   | 74,323 |   |   |   | 73,163 |   |
| Retained earnings                                                                                                                            |   |   | 4,259 |   |   |   | 14,737 |   |
| Accumulated other comprehensive loss                                                                                                         |   |   | (881 | ) |   |   | (619 | ) |
| Treasury stock, at cost, 72,727 shares                                                                                                       |   |   | (569 | ) |   |   | (569 | ) |
| Total shareholders’ equity                                                                                                             |   |   | 111,968 |   |   |   | 121,114 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| Total Liabilities and Shareholders’ Equity                                                                                             |   | $ | 1,797,081 |   |   | $ | 1,610,114 |   |
|                                                                                                                                         |   |   |   |   |   |   |   |   |
| See accompanying notes to consolidated financial statements                                                                                  |   |

Table of Contents

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|                                                                   |   | Three months endedJune 30, |   |   | Six months endedJune 30, |   |
|------------------------------------------------------------------------|--------|----------------------------|--------|--------|--------------------------|--------|
|                                                                   |   | 2009                       |   |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
| Interest and dividend income                                           |   |                       |   |   |                     |   |   |   |   |   |   |   |
| Loans, including fees                                                  |   | $                          | 17,352 |   |                     | $      | 19,278 |   |   | $ | 35,191 |   |   | $ | 39,428 |   |
| Investment securities:                                                 |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Taxable                                                                |   |                       | 3,410  |   |                     |   | 1,928 |   |   |   | 6,314 |   |   |   | 3,706 |   |
| Tax-exempt                                                             |   |                       | 74     |   |                     |   | 101 |   |   |   | 149 |   |   |   | 213 |   |
| Interest-bearing deposits in other banks                               |   |                       | 20     |   |                     |   | 33 |   |   |   | 40 |   |   |   | 44 |   |
| Federal Home Loan Bank stock                                           |   |                       | -      |   |                     |   | 125 |   |   |   | (19 | ) |   |   | 252 |   |
| Federal funds sold and securities purchased under agreements to resell |   |                       | 2      |   |                     |   | 312 |   |   |   | 5 |   |   |   | 1,056 |   |
| Total interest and dividend income                                     |   |                       | 20,858 |   |                     |   | 21,777 |   |   |   | 41,680 |   |   |   | 44,699 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                       |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                               |   |                       | 7,151  |   |                     |   | 7,882 |   |   |   | 15,050 |   |   |   | 17,008 |   |
| Federal Home Loan Bank advances                                        |   |                       | 1,279  |   |                     |   | 1,315 |   |   |   | 2,685 |   |   |   | 2,798 |   |
| Short-term borrowings                                                  |   |                       | 26     |   |                     |   | 352 |   |   |   | 50 |   |   |   | 904 |   |
| Long-term borrowings                                                   |   |                       | 708    |   |                     |   | 819 |   |   |   | 1,444 |   |   |   | 1,724 |   |
| Total interest expense                                                 |   |                       | 9,164  |   |                     |   | 10,368 |   |   |   | 19,229 |   |   |   | 22,434 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                                    |   |                       | 11,694 |   |                     |   | 11,409 |   |   |   | 22,451 |   |   |   | 22,265 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Provision for loan losses                                              |   |                       | 5,763  |   |                     |   | 5,716 |   |   |   | 11,072 |   |   |   | 8,370 |   |
| Net interest income after provision for loan losses                    |   |                       | 5,931  |   |                     |   | 5,693 |   |   |   | 11,379 |   |   |   | 13,895 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest income                                                    |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Service charges on deposit accounts                                    |   |                       | 1,202  |   |                     |   | 719 |   |   |   | 2,168 |   |   |   | 1,441 |   |
| Investment securities gains (losses), net                              |   |                       | 95     |   |                     |   | (1,912 | ) |   |   | 691 |   |   |   | (1,002 | ) |
| Fees on mortgage loans originated and sold                             |   |                       | 318    |   |                     |   | 213 |   |   |   | 433 |   |   |   | 445 |   |
| Investment advisory and trust fees                                     |   |                       | 228    |   |                     |   | 136 |   |   |   | 421 |   |   |   | 261 |   |
| Other income                                                           |   |                       | 489    |   |                     |   | 475 |   |   |   | 998 |   |   |   | 947 |   |
| Total non-interest income                                              |   |                       | 2,332  |   |                     |   | (369 | ) |   |   | 4,711 |   |   |   | 2,092 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest expense                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee benefits                                         |   |                       | 7,068  |   |                     |   | 6,358 |   |   |   | 14,448 |   |   |   | 12,411 |   |
| Net occupancy and equipment expense                                    |   |                       | 2,438  |   |                     |   | 2,186 |   |   |   | 4,590 |   |   |   | 4,200 |   |
| Other expense                                                          |   |                       | 6,652  |   |                     |   | 3,320 |   |   |   | 10,487 |   |   |   | 8,279 |   |
| Total non-interest expense                                             |   |                       | 16,158 |   |                     |   | 11,864 |   |   |   | 29,525 |   |   |   | 24,890 |   |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Loss before income taxes                                               |   |                       | (7,895 | )      |                     |   | (6,540 | ) |   |   | (13,435 | ) |   |   | (8,903 | ) |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Income tax benefit                                                     |   |                       | (3,008 | )      |                     |   | (2,506 | ) |   |   | (5,090 | ) |   |   | (3,424 | ) |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Net Loss                                                               |   | $                          | (4,887 | )      |                     | $      | (4,034 | ) |   | $ | (8,345 | ) |   | $ | (5,479 | ) |
| Income earned by preferred shareholders                                |   |                       | 650    |   |                     |   | - |   |   |   | 1,358 |   |   |   | - |   |
| Net loss allocated to common shareholders                              |   | $                          | (5,537 | )      |                     | $      | (4,034 | ) |   | $ | (9,703 | ) |   | $ | (5,479 | ) |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted loss per common share                                |   | $                          | (0.38  | )      |                     | $      | (0.28 | ) |   | $ | (0.66 | ) |   | $ | (0.39 | ) |
|                                                                   |   |                       |   |   |                     |   |   |   |   |   |   |   |   |   |   |   |

Table of Contents

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|                                                             |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, April 1, 2009                                           |   |                  | 37,000 |   |                 | $      | 33,166 |          |   |   | 14,747,870   |   |   | $                          | 1,482  |   |              | $      | 73,783 |                                          |   | $      | 10,204        |   |   | $                                | (214   | ) |   | $ | (569 | ) |   | $ | 117,852 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (4,887        | )      |   |                             |   |   |   |   |   |   |   |   | (4,887 | ) |
| Other comprehensive loss, net of tax                             |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (608   | ) |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains, net of tax of $36   |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (59    | ) |   |   |   |   |   |   |   |   |
| Other comprehensive loss, net of tax benefit of $403:            |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (667 | ) |
| Comprehensive loss                                               |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (5,554 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 188    |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (188          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 133    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 133 |   |
| Common stock dividend declared                                   |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 407    |                                          |   |   | (407          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Cash dividends declared, preferred stock                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (463          | )      |   |                             |   |   |   |   |   |   |   |   | (463 | ) |
| Balance, June 30, 2009                                           |   |                  | 37,000 |   |                 | $      | 33,354 |          |   |   | 14,747,870   |   |   | $                          | 1,482  |   |              | $      | 74,323 |                                          |   | $      | 4,259         |   |   | $                                | (881   | ) |   | $ | (569 | ) |   | $ | 111,968 |   |
|                                                             |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

|                                                             |   |  PreferredShares |   |  PreferredStock |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|----------------------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, April 1, 2008                                           |   |                  | -      |                 | $      | -             |   |   | 14,716,250   |   |   | $                          | 1,479  |   |              | $      | 66,154 |                                          |   | $      | 36,690        |   |   | $                                | (311   | ) |   | $ | (569 | ) |   | $ | 103,443 |   |
| Comprehensive loss:                                              |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (4,034        | )      |   |                             |   |   |   |   |   |   |   |   | (4,034 | ) |
| Other comprehensive loss, net of tax                             |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (1,595 | ) |   |   |   |   |   |   |   |   |
| Add: reclassification adjustment for losses, net of tax of $719  |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | 1,193  |   |   |   |   |   |   |   |   |   |
| Other comprehensive loss, net of tax benefit of $248:            |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (402 | ) |
| Comprehensive loss                                               |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (4,436 | ) |
| Restricted stock grants, net of 1,133 cancellations              |   |                  |   |                 |   |          |   |   | 27,242       |   |   |                       | 3      |   |              |   | (3     | )                                             |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | - |   |
| Private placement of common shares                               |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   | (11    | )                                             |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (11 | ) |
| Stock-based compensation and related tax effect                  |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   | 153    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 153 |   |
| Common stock dividend declared                                   |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   | 834    |                                          |   |   | (834          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Balance, June 30, 2008                                           |   |                  | -      |                 | $      | -             |   |   | 14,743,492   |   |   | $                          | 1,482  |   |              | $      | 67,127 |                                          |   | $      | 31,822        |   |   | $                                | (713   | ) |   | $ | (569 | ) |   | $ | 99,149 |   |
|                                                             |   |                  |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

Table of Contents

----

|                                                             |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2009                                         |   |                  | 37,000 |   |                 | $      | 32,920 |          |   |   | 14,747,870   |   |   | $                          | 1,482  |   |              | $      | 73,163 |                                          |   | $      | 14,737        |   |   | $                                | (619   | ) |   | $ | (569 | ) |   | $ | 121,114 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (8,345        | )      |   |                             |   |   |   |   |   |   |   |   | (8,345 | ) |
| Other comprehensive loss, net of tax                             |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | 169    |   |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains, net of tax of $260  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (431   | ) |   |   |   |   |   |   |   |   |
| Other comprehensive loss, net of tax benefit of $158:            |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (262 | ) |
| Comprehensive loss                                               |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (8,607 | ) |
| Issuance costs associated with preferred stock issued            |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | (48    | )                                             |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (48 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 434    |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (434          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 332    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 332 |   |
| Common stock dividends declared                                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   | 876    |                                          |   |   | (876          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Cash dividends declared, preferred stock                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (823          | )      |   |                             |   |   |   |   |   |   |   |   | (823 | ) |
| Balance, June 30, 2009                                           |   |                  | 37,000 |   |                 | $      | 33,354 |          |   |   | 14,747,870   |   |   | $                          | 1,482  |   |              | $      | 74,323 |                                          |   | $      | 4,259         |   |   | $                                | (881   | ) |   | $ | (569 | ) |   | $ | 111,968 |   |
|                                                             |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

|                                                                                |   |  PreferredShares |   |   |  PreferredStock |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|-------------------------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|-----------------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2008                                                            |   |                  | -      |   |                 | $      | -             |   |   | 13,434,240   |   |   | $                          | 1,351  |   |              | $      | 56,067 |                                          |   | $      | 39,151        |   |   | $                                | 240    |   |   | $ | (569 | ) |   | $ | 96,240 |   |
| Cumulative-effect adjustment for split-dollar life insurance postretirement benefit |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (141          | )      |   |                             |   |   |   |   |   |   |   |   | (141 | ) |
| Comprehensive loss:                                                                 |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                            |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (5,479        | )      |   |                             |   |   |   |   |   |   |   |   | (5,479 | ) |
| Other comprehensive loss, net of tax                                                |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net market valuation adjustment on securities available for sale                    |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | (1,578 | ) |   |   |   |   |   |   |   |   |
| Add: reclassification adjustment for losses, net of tax of $377                     |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             | 625    |   |   |   |   |   |   |   |   |   |
| Other comprehensive loss, net of tax benefit of $597:                               |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (953 | ) |
| Comprehensive loss                                                                  |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (6,432 | ) |
| Restricted stock grants, net of 1,461 cancellations                                 |   |                  |   |   |                 |   |          |   |   | 32,486       |   |   |                       | 3      |   |              |   | (3     | )                                             |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | - |   |
| Private placement of common shares                                                  |   |                  |   |   |                 |   |          |   |   | 1,261,212    |   |   |                       | 126    |   |              |   | 9,810  |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 9,936 |   |
| Exercise of stock options                                                           |   |                  |   |   |                 |   |          |   |   | 15,554       |   |   |                       | 2      |   |              |   | 96     |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 98 |   |
| Stock-based compensation and related tax effect                                     |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   | 323    |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 323 |   |
| Common stock dividends declared                                                     |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   | 834    |                                          |   |   | (834          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Cash dividends declared, $.0595 per share                                           |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   | (875          | )      |   |                             |   |   |   |   |   |   |   |   | (875 | ) |
| Balance, June 30, 2008                                                              |   |                  | -      |   |                 | $      | -             |   |   | 14,743,492   |   |   | $                          | 1,482  |   |              | $      | 67,127 |                                          |   | $      | 31,822        |   |   | $                                | (713   | ) |   | $ | (569 | ) |   | $ | 99,149 |   |
|                                                                                |   |                  |   |   |                 |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                          |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |

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| TIB FINANCIAL CORP.CONSOLIDATED STATEMENTS OF CASH FLOWSINCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(Unaudited)(Dollars in thousands) |   |
|-------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                      |   | Six Months Ended June 30, |   |
|                                                                                                                                      |   | 2009 |   |   | 2008 |   |
| Cash flows from operating activities:                                                                                                     |   |   |   |   |   |   |
| Net loss                                                                                                                                  |   | $ | (8,345 | ) |   | $ | (5,479 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities:                                                           |   |   |   |   |   |   |   |   |
| Depreciation and amortization                                                                                                             |   |   | 2,216 |   |   |   | 1,982 |   |
| Provision for loan losses                                                                                                                 |   |   | 11,072 |   |   |   | 8,370 |   |
| Deferred income tax benefit                                                                                                               |   |   | (6,461 | ) |   |   | (2,870 | ) |
| Investment securities net realized gains                                                                                                  |   |   | (1,454 | ) |   |   | (910 | ) |
| Net amortization of investment premium/discount                                                                                           |   |   | 847 |   |   |   | (36 | ) |
| Write-down of investment securities                                                                                                       |   |   | 763 |   |   |   | 1,912 |   |
| Stock-based compensation                                                                                                                  |   |   | 370 |   |   |   | 345 |   |
| Loss on sales of OREO                                                                                                                     |   |   | 178 |   |   |   | - |   |
| Other                                                                                                                                     |   |   | 260 |   |   |   | (147 | ) |
| Mortgage loans originated for sale                                                                                                        |   |   | (23,297 | ) |   |   | (26,267 | ) |
| Proceeds from sales of mortgage loans                                                                                                     |   |   | 21,706 |   |   |   | 29,850 |   |
| Fees on mortgage loans sold                                                                                                               |   |   | (395 | ) |   |   | (441 | ) |
| Change in accrued interest receivable and other assets                                                                                    |   |   | 1,452 |   |   |   | (3,025 | ) |
| Change in accrued interest payable and other liabilities                                                                                  |   |   | 1,772 |   |   |   | 3,216 |   |
| Net cash provided by operating activities                                                                                                 |   |   | 684 |   |   |   | 6,500 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Purchases of investment securities available for sale                                                                                     |   |   | (497,814 | ) |   |   | (70,451 | ) |
| Sales of investment securities available for sale                                                                                         |   |   | 290,916 |   |   |   | 25,016 |   |
| Repayments of principal and maturities of investment securities available for sale                                                        |   |   | 105,489 |   |   |   | 25,405 |   |
| Acquisition of Naples Capital Advisors business                                                                                           |   |   | - |   |   |   | (1,365 | ) |
| Net cash received in assumption of operations - Riverside Bank of the Gulf Coast                                                          |   |   | 271,398 |   |   |   | - |   |
| Net (purchase) sale of FHLB stock                                                                                                         |   |   | 1,277 |   |   |   | (1,269 | ) |
| Loans originated or acquired, net of principal repayments                                                                                 |   |   | (22,490 | ) |   |   | (75,935 | ) |
| Purchases of premises and equipment                                                                                                       |   |   | (1,252 | ) |   |   | (661 | ) |
| Proceeds from sale of OREO                                                                                                                |   |   | 2,038 |   |   |   | - |   |
| Proceeds from disposal of premises, equipment and intangible assets                                                                       |   |   | 18 |   |   |   | 14 |   |
| Net cash provided by (used in) investing activities                                                                                       |   |   | 149,580 |   |   |   | (99,246 | ) |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                                                                     |   |   |   |   |   |   |   |   |
| Net increase in demand, money market and savings accounts                                                                                 |   |   | 85,803 |   |   |   | 21,583 |   |
| Net increase (decrease) in time deposits                                                                                                  |   |   | (52,486 | ) |   |   | 17,373 |   |
| Net change in Brokered time deposits                                                                                                      |   |   | (93,399 | ) |   |   | 49,276 |   |
| Net increase (decrease) in federal funds purchased and securities sold under agreements to repurchase                                     |   |   | 11,755 |   |   |   | 2,454 |   |
| Increase in long term FHLB advances                                                                                                       |   |   | - |   |   |   | 57,900 |   |
| Repayment of long term FHLB advances                                                                                                      |   |   | (7,900 | ) |   |   | (75,000 | ) |
| Net change in short term FHLB advances                                                                                                    |   |   | (70,000 | ) |   |   | 45,000 |   |
| Proceeds from exercise of stock options                                                                                                   |   |   | - |   |   |   | 98 |   |
| Income tax effect related to stock-based compensation                                                                                     |   |   | (38 | ) |   |   | (22 | ) |
| Proceeds from private stock offering                                                                                                      |   |   | - |   |   |   | 9,936 |   |
| Net issuance costs of preferred stock and common warrants                                                                                 |   |   | (48 | ) |   |   | - |   |
| Cash dividends paid to common shareholders                                                                                                |   |   | - |   |   |   | (1,674 | ) |
| Cash dividends paid to preferred shareholders                                                                                             |   |   | (823 | ) |   |   | - |   |
| Net cash provided by (used in) financing activities                                                                                       |   |   | (127,136 | ) |   |   | 126,924 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Net increase in cash and cash equivalents                                                                                                 |   |   | 23,128 |   |   |   | 34,178 |   |
| Cash and cash equivalents at beginning of period                                                                                          |   |   | 73,734 |   |   |   | 71,059 |   |
| Cash and cash equivalents at end of period                                                                                                |   | $ | 96,862 |   |   | $ | 105,237 |   |
|                                                                                                                                      |   |   |   |   |   |   |   |   |
| Supplemental disclosures of cash paid:                                                                                                    |   |   |   |   |   |   |   |   |
| Interest                                                                                                                                  |   | $ | 18,857 |   |   | $ | 22,176 |   |
| Income taxes                                                                                                                              |   |   | - |   |   |   | 125 |   |
| Supplemental information:                                                                                                                 |   |   |   |   |   |   |   |   |
| Fair value of noncash assets acquired                                                                                                     |   | $ | 49,193 |   |   | $ | - |   |
| Fair value of liabilities assumed                                                                                                         |   |   | 320,594 |   |   |   | - |   |
|     Transfer of loans to OREO                                                                                              |   |   | 8,780  |   |   |   | - |   |
| Transfer of OREO to Premises and Equipment                                                                                                |   |   |  2,942 |   |   |   | - |   |
| See accompanying notes to consolidated financial statements                                                                               |   |

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|                                                |   | June 30, 2009  |    |
|-----------------------------------------------------|--------|----------------|---------|
|                                                |   | Amortized Cost |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations           |   | $              | 61,016  |   |   | $ | 96 |   |   | $ | 79 |   |   | $ | 61,033 |   |
| States and political subdivisions—tax exempt  |   |           | 7,753   |   |   |   | 168 |   |   |   | 1 |   |   |   | 7,920 |   |
| States and political subdivisions—taxable     |   |           | 2,360   |   |   |   | - |   |   |   | 91 |   |   |   | 2,269 |   |
| Marketable equity securities                        |   |           | 12      |   |   |   | 7 |   |   |   | - |   |   |   | 19 |   |
| Mortgage-backed securities -  residential |   |           | 275,266 |   |   |   | 3,418 |   |   |   | 474 |   |   |   | 278,210 |   |
| Money market mutual funds                           |   |           | 5,582   |   |   |   | - |   |   |   | - |   |   |   | 5,582 |   |
| Corporate bonds                                     |   |           | 2,874   |   |   |   | - |   |   |   | 1,559 |   |   |   | 1,315 |   |
| Collateralized debt obligations                     |   |           | 5,000   |   |   |   | - |   |   |   | 2,896 |   |   |   | 2,104 |   |
|                                                |   | $              | 359,863 |   |   | $ | 3,689 |   |   | $ | 5,100 |   |   | $ | 358,452 |   |
|                                                |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                |   | December 31, 2008 |    |
|-----------------------------------------------------|--------|-------------------|---------|
|                                                |   | Amortized Cost    |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations           |   | $                 | 50,892  |   |   | $ | 776 |   |   | $ | - |   |   | $ | 51,668 |   |
| States and political subdivisions—tax exempt  |   |              | 7,751   |   |   |   | 59 |   |   |   | 21 |   |   |   | 7,789 |   |
| States and political subdivisions—taxable     |   |              | 2,407   |   |   |   | - |   |   |   | 70 |   |   |   | 2,337 |   |
| Marketable equity securities                        |   |              | 12      |   |   |   | - |   |   |   | - |   |   |   | 12 |   |
| Mortgage-backed securities -  residential |   |              | 157,066 |   |   |   | 1,332 |   |   |   | 421 |   |   |   | 157,977 |   |
| Corporate bonds                                     |   |              | 2,870   |   |   |   | - |   |   |   | 1,158 |   |   |   | 1,712 |   |
| Collateralized debt obligations                     |   |              | 5,763   |   |   |   | - |   |   |   | 1,488 |   |   |   | 4,275 |   |
|                                                |   | $                 | 226,761 |   |   | $ | 2,167 |   |   | $ | 3,158 |   |   | $ | 225,770 |   |
|                                                |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|                                     |             June 30, 2009 |
|------------------------------------------|----------------------------------------------------------------------------------|
|                                     |                                                                             | Fair Value |   |   | Amortized Cost |   |
| Due in one year or less                  |                                                                             | $ | 5,729 |   |   | $ | 5,727 |   |
| Due after one year through five years    |                                                                             |   | 64,786 |   |   |   | 64,655 |   |
| Due after five years through ten years   |                                                                             |   | 4,066 |   |   |   | 4,014 |   |
| Due after ten years                      |                                                                             |   | 5,643 |   |   |   | 10,189 |   |
| Marketable equity securities             |                                                                             |   | 18 |   |   |   | 12 |   |
| Mortgage-backed securities - residential |                                                                             |   | 278,210 |   |   |   | 275,266 |   |
|                                     |                                                                             | $ | 358,452 |   |   |   | 359,863 |   |
|                                     |                                                                             |   |   |   |   |   |   |   |

|                                               |   | Less than 12 Months  |   |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|--------|--------|---------------------|--------|--------|----------------------|--------|
| June 30, 2009                                      |   | Estimated Fair Value |   |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 6,931  |   |                | $      | 79     |                 |   | $ | - |   |   | $ | - |   |   | $ | 6,931 |   |   | $ | 79 |   |
| States and political subdivisions—tax exempt |   |                 | -      |   |                |   | -      |                 |   |   | 274 |   |   |   | 1 |   |   |   | 274 |   |   |   | 1 |   |
| States and political subdivisions—taxable    |   |                 | 2,224  |   |                |   | 91     |                 |   |   | - |   |   |   | - |   |   |   | 2,224 |   |   |   | 91 |   |
| Mortgage-backed securities - residential           |   |                 | 41,109 |   |                |   | 223    |                 |   |   | 13,645 |   |   |   | 251 |   |   |   | 54,754 |   |   |   | 474 |   |
| Corporate bonds                                    |   |                 | -      |   |                |   | -      |                 |   |   | 1,315 |   |   |   | 1,559 |   |   |   | 1,315 |   |   |   | 1,559 |   |
| Collateralized debt obligation                     |   |                 | -      |   |                |   | -      |                 |   |   | 2,104 |   |   |   | 2,896 |   |   |   | 2,104 |   |   |   | 2,896 |   |
| Total temporarily impaired                         |   | $                    | 50,264 |   |                | $      | 393    |                 |   | $ | 17,338 |   |   | $ | 4,707 |   |   | $ | 67,602 |   |   | $ | 5,100 |   |
|                                               |   |                 |   |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                               |   | Less than 12 Months  |   |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|--------|--------|---------------------|--------|--------|----------------------|--------|
| December 31, 2008                                  |   | Estimated Fair Value |   |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | -      |   |                | $      | -      |                 |   | $ | - |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |                 | 2,413  |   |                |   | 20     |                 |   |   | 274 |   |   |   | 1 |   |   |   | 2,687 |   |   |   | 21 |   |
| States and political subdivisions-taxable          |   |                 | 2,247  |   |                |   | 70     |                 |   |   | - |   |   |   | - |   |   |   | 2,247 |   |   |   | 70 |   |
| Mortgage-backed securities - residential           |   |                 | 14,045 |   |                |   | 83     |                 |   |   | 17,015 |   |   |   | 338 |   |   |   | 31,060 |   |   |   | 421 |   |
| Corporate bonds                                    |   |                 | -      |   |                |   | -      |                 |   |   | 1,712 |   |   |   | 1,158 |   |   |   | 1,712 |   |   |   | 1,158 |   |
| Collateralized debt obligations                    |   |                 | -      |   |                |   | -      |                 |   |   | 3,512 |   |   |   | 1,488 |   |   |   | 3,512 |   |   |   | 1,488 |   |
| Total temporarily impaired                         |   | $                    | 18,705 |   |                | $      | 173    |                 |   | $ | 22,513 |   |   | $ | 2,985 |   |   | $ | 41,218 |   |   | $ | 3,158 |   |
|                                               |   |                 |   |   |                |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|                                        |   | Three Months Ended June 30, 2009 |
|---------------------------------------------|--------|----------------------------------|
| Beginning balance, April 1, 2009            |   | $                                | 9,256 |
| Additions/Subtractions                      |   |                             |   |
| Credit losses recognized during the quarter |   |                             | 740 |
| Ending balance, June 30, 2009               |   | $                                | 9,996 |
|                                        |   |                             |   |

|                              |   | June 30, 2009 |      |   | December 31,2008 |   |
|-----------------------------------|--------|--------------------|-----------|--------|------------------|--------|
| Real estate mortgage loans:       |   |               |      |   |             |   |
| Commercial                        |   | $                  | 683,763   |   |             | $      | 658,516 |   |
| Residential                       |   |               | 222,260   |   |             |   | 205,062 |   |
| Farmland                          |   |               | 13,497    |   |             |   | 13,441 |   |
| Construction and vacant land      |   |               | 139,425   |   |             |   | 147,309 |   |
| Commercial and agricultural loans |   |               | 67,214    |   |             |   | 71,352 |   |
| Indirect auto loans               |   |               | 63,243    |   |             |   | 82,028 |   |
| Home equity loans                 |   |               | 38,100    |   |             |   | 34,062 |   |
| Other consumer loans              |   |               | 10,854    |   |             |   | 11,549 |   |
| Total loans                       |   |               | 1,238,356 |   |             |   | 1,223,319 |   |
|                              |   |               |      |   |             |   |   |   |
| Net deferred loan costs           |   |               | 1,355     |   |             |   | 1,656 |   |
| Loans, net of deferred loan costs |   | $                  | 1,239,711 |   |             | $      | 1,224,975 |   |

|                                         |   | Six Months EndedJune 30, |   |
|----------------------------------------------|--------|--------------------------|--------|
|                                         |   | 2009                     |   |   | 2008 |   |
| Balance, January 1                           |   | $                        | 23,783 |   |   | $ | 14,973 |   |
| Provision for loan losses charged to expense |   |                     | 11,072 |   |   |   | 8,370 |   |
| Loans charged off                            |   |                     | (9,533 | ) |   |   | (6,751 | ) |
| Recoveries of loans previously charged off   |   |                     | 124    |   |   |   | 35 |   |
| Balance, June 30                             |   | $                        | 25,446 |   |   | $ | 16,627 |   |
|                                         |   |                     |   |   |   |   |   |   |

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|   | Nonaccrual loans were as follows: |
|--------|-----------------------------------|

|                                   |   | As of June 30, 2009 |   |   | As of March 31, 2009 |   |   | As of December 31, 2008 |   |
|----------------------------------------|--------|---------------------|--------|--------|----------------------|--------|--------|-------------------------|--------|
| Loan Type                              |   | Number ofLoans      |   |   | Outstanding Balance  |   |   | Number ofLoans          |   |   | Outstanding Balance |   |   | Number ofLoans |   |   | Outstanding Balance |   |
| Residential 1-4 family                 |   |                | 24     |   |                 | $      | 5,138  |                    |   |   | 15 |   |   | $ | 3,815 |   |   |   | 18 |   |   | $ | 4,014 |   |
| Commercial 1-4 family investment       |   |                | 9      |   |                 |   | 8,705  |                    |   |   | 10 |   |   |   | 7,892 |   |   |   | 9 |   |   |   | 7,943 |   |
| Commercial and agricultural            |   |                | 6      |   |                 |   | 596    |                    |   |   | 8 |   |   |   | 659 |   |   |   | 2 |   |   |   | 64 |   |
| Commercial real estate                 |   |                | 21     |   |                 |   | 11,322 |                    |   |   | 20 |   |   |   | 13,719 |   |   |   | 18 |   |   |   | 13,133 |   |
| Land development                       |   |                | 11     |   |                 |   | 34,583 |                    |   |   | 6 |   |   |   | 17,707 |   |   |   | 4 |   |   |   | 12,584 |   |
| Government guaranteed loans            |   |                | 3      |   |                 |   | 145    |                    |   |   | 3 |   |   |   | 143 |   |   |   | 3 |   |   |   | 143 |   |
| Indirect auto, auto and consumer loans |   |                | 121    |   |                 |   | 1,320  |                    |   |   | 162 |   |   |   | 1,712 |   |   |   | 155 |   |   |   | 1,895 |   |
|                                   |   |                |   |   |                 | $      | 61,809 |                    |   |   |   |   |   | $ | 45,647 |   |   |   |   |   |   | $ | 39,776 |   |
|                                   |   |                |   |   |                 |   |   |                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                              |             June 30, 2009 |   |    |       March 31, 2009 |   |   | December 31, 2008 |   |
|---------------------------------------------------|---------------------------------------------------------------------------------------|--------|---------|-----------------------------------------------|--------|--------|-------------------|--------|
| Loans with no allocated allowance for loan losses |                                                                                  | $      | 37,112  |                                          |   | $      | 27,289            |   |   | $ | 8,344 |   |
| Loans with allocated allowance for loan losses    |                                                                                  |   | 66,493  |                                          |   |   | 60,783            |   |   |   | 53,765 |   |
| Total                                             |                                                                                  | $      | 103,605 |                                          |   | $      | 88,072            |   |   | $ | 62,109 |   |
|                                              |                                                                                  |   |    |                                          |   |   |              |   |   |   |   |   |
| Amount of the allowance for loan losses allocated |                                                                                  | $      | 8,484   |                                          |   | $      | 7,947             |   |   | $ | 6,116 |   |
|                                              |                                                                                  |   |    |                                          |   |   |              |   |   |   |   |   |

|                                                |   | Three Months EndedJune 30, |       |   | Six Months EndedJune 30, |   |
|-----------------------------------------------------|--------|----------------------------|------------|--------|--------------------------|--------|
|                                                |   | 2009                       |       |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
| Basic                                               |   |                       | 14,669,107 |   |                     |   | 14,631,184 |   |   |   | 14,661,879 |   |   |   | 14,157,535 |   |
| Dilutive effect of options outstanding              |   |                       | -          |   |                     |   | - |   |   |   | - |   |   |   | - |   |
| Dilutive effect of unvested restricted stock awards |   |                       | -          |   |                     |   | - |   |   |   | - |   |   |   | - |   |
| Dilutive effect of warrants                         |   |                       | -          |   |                     |   | - |   |   |   | - |   |   |   | - |   |
| Diluted                                             |   |                       | 14,669,107 |   |                     |   | 14,631,184 |   |   |   | 14,661,879 |   |   |   | 14,157,535 |   |

|                                           |   | Three Months EndedJune 30, |      |   | Six Months EndedJune 30, |   |
|------------------------------------------------|--------|----------------------------|-----------|--------|--------------------------|--------|
|                                           |   | 2009                       |      |   | 2008                     |   |   | 2009 |   |   | 2008 |   |
| Anti-dilutive stock options                    |   |                       | 675,155   |   |                     |   | 619,152 |   |   |   | 684,044 |   |   |   | 579,771 |   |
| Anti-dilutive unvested restricted stock awards |   |                       | 76,066    |   |                     |   | 84,584 |   |   |   | 85,893 |   |   |   | 80,263 |   |
| Anti-dilutive warrants                         |   |                       | 2,356,647 |   |                     |   | 1,261,212 |   |   |   | 2,356,647 |   |   |   | 796,920 |   |

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|                                     |   | Well Capitalized Requirement  |              | Adequately Capitalized Requirement  |   | June 30,2009Actual  |             | December 31, 2008Actual  |
|------------------------------------------|--------|------------------------------------|-------------------|------------------------------------------|--------|--------------------------|------------------|-------------------------------|
| Tier 1 Capital (to Average Assets)       |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |
| Consolidated                             |   |                               | N/A               |                                     |   |                     | ≥ 4.0 | %                             |   |   | 6.4 | % |   |   | 8.9 | % |
| TIB Bank                                 |   |                               | ≥ 5.0  | %                                        |   |                     | ≥ 4.0 | %                             |   |   | 6.5 | % |   |   | 7.3 | % |
| The Bank of Venice                       |   |                               | ≥ 5.0  | %                                        |   |                     | ≥ 4.0 | %                             |   |   | 6.5 | % |   |   | 8.1 | % |
|                                     |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |   |   |   |   |
| Tier 1 Capital (to Risk Weighted Assets) |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |   |   |   |   |
| Consolidated                             |   |                               | N/A               |                                     |   |                     | ≥ 4.0 | %                             |   |   | 8.9 | % |   |   | 11.3 | % |
| TIB Bank                                 |   |                               | ≥ 6.0       | %                                        |   |                     | ≥ 4.0 | %                             |   |   | 8.8 | % |   |   | 9.3 | % |
| The Bank of Venice                       |   |                               | ≥ 6.0  | %                                        |   |                     | ≥ 4.0 | %                             |   |   | 10.5 | % |   |   | 11.2 | % |
|                                     |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |   |   |   |   |
| Total Capital (to Risk Weighted Assets)  |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |   |   |   |   |
| Consolidated                             |   |                               | N/A               |                                     |   |                     | ≥ 8.0 | %                             |   |   | 10.1 | % |   |   | 12.6 | % |
| TIB Bank                                 |   |                               | ≥ 10.0 | %                                        |   |                     | ≥ 8.0 | %                             |   |   | 10.0 | % |   |   | 10.5 | % |
| The Bank of Venice                       |   |                               | ≥ 10.0 | %                                        |   |                     | ≥ 8.0 | %                             |   |   | 11.7 | % |   |   | 12.4 | % |
|                                     |   |                               |              |                                     |   |                     |             |                          |   |   |   |   |   |   |   |   |

| Cash and cash equivalents                                       |   | $      | 271,398 |   |
|-----------------------------------------------------------------|--------|--------|---------|--------|
| Securities available for sale                                   |   |   | 31,850  |   |
| Loans                                                           |   |   | 10,737  |   |
| Intangible assets                                               |   |   | 5,087   |   |
| Goodwill                                                        |   |   | 1,201   |   |
| Other                                                           |   |   | 321     |   |
| Total assets acquired                                           |   | $      | 320,594 |   |
|                                                            |   |   |    |   |
| Deposits (including deposit premium on certificates of deposit) |   |   | 319,232 |   |
| Other liabilities                                               |   |   | 1,362   |   |
| Total liabilities assumed                                       |   | $      | 320,594 |   |
|                                                            |   |   |    |   |

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|                                               |   | Fair Value Measurements at June 30, 2009 Using |    |
|----------------------------------------------------|--------|------------------------------------------------|---------|
|                                               |   | June 30, 2009                                  |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                            |   |                                           |    |   |   |   |   |   |   |   |   |   |
| U.S. Government agencies and corporations          |   | $                                              | 61,033  |   |   | $ | - |   |   | $ | 61,033 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |                                           | 7,920   |   |   |   | - |   |   |   | 7,920 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |                                           | 2,269   |   |   |   | - |   |   |   | 2,269 |   |   |   | - |   |
| Marketable equity securities                       |   |                                           | 19      |   |   |   | - |   |   |   | 19 |   |   |   | - |   |
| Mortgage-backed securities - residential           |   |                                           | 278,210 |   |   |   | - |   |   |   | 278,210 |   |   |   | - |   |
| Money Market Mutual Funds                          |   |                                           | 5,582   |   |   |   | 5,582 |   |   |   | - |   |   |   | - |   |
| Corporate bonds                                    |   |                                           | 1,315   |   |   |   | - |   |   |   | 1,315 |   |   |   | - |   |
| Collateralized debt obligations                    |   |                                           | 2,104   |   |   |   | - |   |   |   | - |   |   | $ | 2,104 |   |
| Available for sale securities                      |   | $                                              | 358,452 |   |   | $ | 5,582 |   |   | $ | 350,766 |   |   | $ | 2,104 |   |
|                                               |   |                                           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

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|                                               |   | Fair Value Measurements at December 31, 2008 Using |    |
|----------------------------------------------------|--------|----------------------------------------------------|---------|
|                                               |   | December 31, 2008                                  |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                            |   |                                               |    |   |   |   |   |   |   |   |   |   |
| U.S. Government agencies and corporations          |   | $                                                  | 51,668  |   |   | $ | - |   |   | $ | 51,668 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |                                               | 7,789   |   |   |   | - |   |   |   | 7,789 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |                                               | 2,337   |   |   |   | - |   |   |   | 2,337 |   |   |   | - |   |
| Marketable equity securities                       |   |                                               | 12      |   |   |   | - |   |   |   | 12 |   |   |   | - |   |
| Mortgage-backed securities - residential           |   |                                               | 157,977 |   |   |   | - |   |   |   | 157,977 |   |   |   | - |   |
| Corporate bonds                                    |   |                                               | 1,712   |   |   |   | - |   |   |   | 1,712 |   |   |   | - |   |
| Collateralized debt obligations                    |   |                                               | 4,275   |   |   |   | - |   |   |   | - |   |   |   | 4,275 |   |
| Available for sale securities                      |   | $                                                  | 225,770 |   |   | $ | - |   |   | $ | 221,495 |   |   | $ | 4,275 |   |
|                                               |   |                                               |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                         |   | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Collateralized Debt Obligations |   |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|
|                                                         |   | 2009                                                                                                   |   |   | 2008 |   |
| Beginning balance, April 1,                                  |   | $                                                                                                      | 3,958  |   |   | $ | 5,657 |   |
| Included in earnings – other than temporary impairment |   |                                                                                                   | (740   | ) |   |   | (956 | ) |
| Included in other comprehensive income                       |   |                                                                                                   | (1,114 | ) |   |   | 454 |   |
| Transfer in to Level 3                                       |   |                                                                                                   | -      |   |   |   | 4,718 |   |
| Ending balance June 30,                                      |   | $                                                                                                      | 2,104  |   |   | $ | 9,873 |   |
|                                                         |   |                                                                                                   |   |   |   |   |   |   |

|                                                         |   | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Collateralized Debt Obligations |   |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|--------|
|                                                         |   | 2009                                                                                                   |   |   | 2008 |   |
| Beginning balance, January 1,                                |   | $                                                                                                      | 4,275  |   |   | $ | 6,111 |   |
| Included in earnings – other than temporary impairment |   |                                                                                                   | (763   | ) |   |   | (956 | ) |
| Included in other comprehensive income                       |   |                                                                                                   | (1,408 | ) |   |   | - |   |
| Transfer in to Level 3                                       |   |                                                                                                   | -      |   |   |   | 4,718 |   |
| Ending balance June 30,                                      |   | $                                                                                                      | 2,104  |   |   | $ | 9,873 |   |
|                                                         |   |                                                                                                   |   |   |   |   |   |   |

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|                                                                      |   | Fair Value Measurements at June 30, 2009 Using |   |
|---------------------------------------------------------------------------|--------|------------------------------------------------|--------|
|                                                                      |   | June 30, 2009                                  |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                                                   |   |                                           |   |   |   |   |   |   |   |   |   |   |
| Impaired loans with specific allocations of the allowance for loan losses |   | $                                              | 58,009 |   |   | $ | - |   |   | $ | - |   |   | $ | 58,009 |   |
| Other real estate owned                                                   |   |                                           | 7,142  |   |   |   | - |   |   |   | - |   |   |   | 7,142 |   |
| Other repossessed assets                                                  |   |                                           | 431    |   |   |   | - |   |   |   | 431 |   |   |   | - |   |
|                                                                      |   |                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                                      |   | Fair Value Measurements at December 31, 2008 Using |   |
|---------------------------------------------------------------------------|--------|----------------------------------------------------|--------|
|                                                                      |   | December 31, 2008                                  |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                                                                   |   |                                               |   |   |   |   |   |   |   |   |   |   |
| Impaired loans with specific allocations of the allowance for loan losses |   | $                                                  | 47,649 |   |   | $ | - |   |   | $ | - |   |   | $ | 47,649 |   |
|                                                                      |   |                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                                                             |   | June 30, 2009  |      |
|------------------------------------------------------------------|--------|----------------|-----------|
|                                                             |   | Carrying Value |      |   | Estimated Fair Value |   |
| Financial assets:                                                |   |           |      |   |   |   |
| Cash and cash equivalents                                        |   | $              | 96,862    |   |   | $ | 96,862 |   |
| Investment securities available for sale                         |   |           | 358,452   |   |   |   | 358,452 |   |
| Loans, net                                                       |   |           | 1,214,265 |   |   |   | 1,088,245 |   |
| Federal Home Loan Bank and Independent Bankers’ Bank stock |   |           | 10,735    |   |   | NM |   |
| Accrued interest receivable                                      |   |           | 6,668     |   |   |   | 6,668 |   |
|                                                             |   |           |      |   |   |   |   |   |
| Financial liabilities:                                           |   |           |      |   |   |   |   |   |
| Non-contractual deposits                                         |   |           | 708,224   |   |   |   | 708,224 |   |
| Contractual deposits                                             |   |           | 686,594   |   |   |   | 693,157 |   |
| Federal Home Loan Bank Advances                                  |   |           | 125,000   |   |   |   | 132,527 |   |
| Short-term borrowings                                            |   |           | 84,114    |   |   |   | 84,108 |   |
| Long-term repurchase agreements                                  |   |           | 30,000    |   |   |   | 30,887 |   |
| Subordinated debentures                                          |   |           | 33,000    |   |   |   | 14,138 |   |
| Accrued interest payable                                         |   |           | 8,383     |   |   |   | 8,383 |   |
|                                                             |   |           |      |   |   |   |   |   |

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Item 6.  Exhibits

|   | Exhibit 31.1 | -      | Chief Executive Officer’s certification required under Section 302 of Sarbanes-Oxley Act of 2002 |
|--------|--------------|--------|--------------------------------------------------------------------------------------------------------|
|   | Exhibit 31.2 | -      | Chief Financial Officer’s certification required under Section 302 of Sarbanes-Oxley Act of 2002 |
|   | Exhibit 32.1 | -      | Chief Executive Officer’s certification required under Section 906 of Sarbanes-Oxley Act of 2002 |
|   | Exhibit 32.2 | -      | Chief Financial Officer’s certification required under Section 906 of Sarbanes-Oxley Act of 2002 |
|   |         |   |                                                                                                   |

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|                                         |   | TIB FINANCIAL CORP.                                                                |
|----------------------------------------------|--------|------------------------------------------------------------------------------------|
|   Date:  August 18, 2009 |   |     /s/ Thomas J. Longe                                        |
|                                         |   | Thomas J. LongeChief Executive Officer and President                               |
|                                         |   |                                                                               |
|   Date:  August 18, 2009 |   |     /s/ Stephen J. Gilhooly                                    |
|                                         |   | Stephen J. GilhoolyExecutive Vice President, Chief Financial Officer and Treasurer |