|      |
|-----------|
| FORM 10-Q |

| TIB FINANCIAL CORP.                                    |
|--------------------------------------------------------|
| (Exact name of registrant as specified in its charter) |

| 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 90 days.  T Yes   £ 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 was required 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 (Check one):                                                                                  |
| £ Large accelerated filer                                                                                                                                                                                                                                                                                                                                                                                                               | £ Accelerated filer |
| £ Non-accelerated filer                                                                                                                                                                                                                                                                                                                                                                                                                 | T 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    T No                                                                                                                                                                                                                                                                           |
|                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 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                                                                                                                                                                                                                                                                                                                                                                                                                |   | 12,349,935 |
| Class                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Outstanding as of July 31, 2011 |

----

| PART I.  FINANCIAL INFORMATION                                                                       |   |   | 3      |   |
|----------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|
| Item 1.  Financial Statements                                                                        |   |   | 3      |   |
| Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations |   |   | 17     |   |
| Item 3.  Quantitative and Qualitative Disclosures About Market Risk                                  |   |   | 27     |   |
| Item 4.  Controls and Procedures                                                                     |   |   | 28     |   |
|                                                                                                           |   |   |   |   |
| PART II.  OTHER INFORMATION                                                                          |   |   | 28     |   |
| Item 1a. Risk Factors                                                                                          |   |   | 28     |   |
| Item 4.  Other Information                                                                           |   |   | 28     |   |
| Item 5.  Exhibits                                                                                    |   |   | 28     |   |

----

PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

| TIB FINANCIAL CORP.CONSOLIDATED BALANCE SHEETS(Dollars and shares in thousands, except per share data)                           |   |
|----------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                             |   | (Unaudited) |   |   |   |   |
|                                                                                                                             |   | June 30, 2011 |   |   | December 31, 2010 |   |
|                                                                                                                             |   |   |   |   |   |   |
| Assets                                                                                                                           |   |   |   |   |   |   |
| Cash and due from banks                                                                                                          |   | $ | 6,145 |   |   | $ | 153,794 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Investment securities available for sale                                                                                         |   |   | - |   |   |   | 418,092 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Loans, net of deferred loan costs and fees                                                                                       |   |   | - |   |   |   | 1,004,630 |   |
| Less: Allowance for loan losses                                                                                                  |   |   | - |   |   |   | 402 |   |
| Loans, net                                                                                                                       |   |   | - |   |   |   | 1,004,228 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                                                                      |   |   | - |   |   |   | 43,153 |   |
| Goodwill                                                                                                                         |   |   | - |   |   |   | 29,999 |   |
| Intangible assets, net                                                                                                           |   |   | 3,288 |   |   |   | 11,406 |   |
| Other real estate owned                                                                                                          |   |   | - |   |   |   | 25,673 |   |
| Deferred income tax asset                                                                                                        |   |   | - |   |   |   | 19,973 |   |
| Accrued interest receivable and other assets                                                                                     |   |   | 743 |   |   |   | 50,548 |   |
| Equity method investment in Capital Bank, NA                                                                                     |   |   | 199,927 |   |   |   | - |   |
| Total Assets                                                                                                                     |   | $ | 210,103 |   |   | $ | 1,756,866 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ Equity                                                                                       |   |   |   |   |   |   |   |   |
| Liabilities                                                                                                                      |   |   |   |   |   |   |   |   |
| Deposits:                                                                                                                        |   |   |   |   |   |   |   |   |
| Noninterest-bearing demand                                                                                                       |   | $ | - |   |   | $ | 198,092 |   |
| Interest-bearing                                                                                                                 |   |   | - |   |   |   | 1,168,933 |   |
| Total deposits                                                                                                                   |   |   | - |   |   |   | 1,367,025 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Federal Home Loan Bank (FHLB) advances                                                                                           |   |   | - |   |   |   | 131,116 |   |
| Short-term borrowings                                                                                                            |   |   | - |   |   |   | 47,158 |   |
| Long-term borrowings                                                                                                             |   |   | 23,031 |   |   |   | 22,887 |   |
| Accrued interest payable and other liabilities                                                                                   |   |   | 7,036 |   |   |   | 11,930 |   |
| Total liabilities                                                                                                                |   |   | 30,067 |   |   |   | 1,580,116 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                                                                       |   |   |   |   |   |   |   |   |
| Common stock - $.10 par value per share: 50,000 shares authorized, 12,350 and 11,817 shares issued and outstanding, respectively |   |   | 1,235 |   |   |   | 1,182 |   |
| Additional paid in capital                                                                                                       |   |   | 174,903 |   |   |   | 177,316 |   |
| Retained earnings                                                                                                                |   |   | 2,588 |   |   |   | 560 |   |
| Accumulated other comprehensive income (loss)                                                                                    |   |   | 1,310 |   |   |   | (2,308 | ) |
| Total shareholders’ equity                                                                                                 |   |   | 180,036 |   |   |   | 176,750 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| Total Liabilities and Shareholders’ Equity                                                                                 |   | $ | 210,103 |   |   | $ | 1,756,866 |   |
|                                                                                                                             |   |   |   |   |   |   |   |   |
| See accompanying notes to consolidated financial statements                                                                      |   |

----

|                                                                        |   | Successor Company                |   |   | Predecessor Company              |   |    | Successor Company              |   |   | Predecessor Company            |   |
|-----------------------------------------------------------------------------|--------|----------------------------------|--------|--------|----------------------------------|--------|---------|--------------------------------|--------|--------|--------------------------------|--------|
|                                                                        |   | Three Months Ended June 30, 2011 |   |   | Three Months Ended June 30, 2010 |   |    | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30, 2010 |   |
| Interest and dividend income                                                |   |                             |   |   |                             |   |    |                           |   |   |                           |   |
| Loans, including fees                                                       |   | $                                | 4,347  |   |                             | $      | 14,636  |                           |   | $      | 17,745                         |   |   | $ | 30,635 |   |
| Investment securities:                                                      |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Taxable                                                                     |   |                             | 902    |   |                             |   | 2,229   |                           |   |   | 3,238                          |   |   |   | 4,373 |   |
| Tax-exempt                                                                  |   |                             | 4      |   |                             |   | 41      |                           |   |   | 19                             |   |   |   | 108 |   |
| Interest-bearing deposits in other banks                                    |   |                             | 31     |   |                             |   | 75      |                           |   |   | 101                            |   |   |   | 149 |   |
| Federal Home Loan Bank stock                                                |   |                             | 6      |   |                             |   | 7       |                           |   |   | 31                             |   |   |   | 10 |   |
| Total interest and dividend income                                          |   |                             | 5,290  |   |                             |   | 16,988  |                           |   |   | 21,134                         |   |   |   | 35,275 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Interest expense                                                            |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Deposits                                                                    |   |                             | 822    |   |                             |   | 4,509   |                           |   |   | 3,276                          |   |   |   | 9,411 |   |
| Federal Home Loan Bank advances                                             |   |                             | 64     |   |                             |   | 1,181   |                           |   |   | 301                            |   |   |   | 2,395 |   |
| Short-term borrowings                                                       |   |                             | 4      |   |                             |   | 25      |                           |   |   | 19                             |   |   |   | 48 |   |
| Long-term borrowings                                                        |   |                             | 466    |   |                             |   | 671     |                           |   |   | 922                            |   |   |   | 1,325 |   |
| Total interest expense                                                      |   |                             | 1,356  |   |                             |   | 6,386   |                           |   |   | 4,518                          |   |   |   | 13,179 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Net interest income                                                         |   |                             | 3,934  |   |                             |   | 10,602  |                           |   |   | 16,616                         |   |   |   | 22,096 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Provision for loan losses                                                   |   |                             | 136    |   |                             |   | 7,700   |                           |   |   | 621                            |   |   |   | 12,625 |   |
| Net interest income after provision for loan losses                         |   |                             | 3,798  |   |                             |   | 2,902   |                           |   |   | 15,995                         |   |   |   | 9,471 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Non-interest income                                                         |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Service charges on deposit accounts                                         |   |                             | 257    |   |                             |   | 839     |                           |   |   | 1,070                          |   |   |   | 1,754 |   |
| Fees on mortgage loans originated and sold                                  |   |                             | 144    |   |                             |   | 481     |                           |   |   | 498                            |   |   |   | 764 |   |
| Investment advisory and trust fees                                          |   |                             | 379    |   |                             |   | 313     |                           |   |   | 766                            |   |   |   | 620 |   |
| Loss on sale of indirect auto loans                                         |   |                             | -      |   |                             |   | -       |                           |   |   | -                              |   |   |   | (346 | ) |
| Equity in income from investment in Capital Bank, NA                        |   |                             | 658    |   |                             |   | -       |                           |   |   | 658                            |   |   |   | - |   |
| Other income                                                                |   |                             | 464    |   |                             |   | 868     |                           |   |   | 1,669                          |   |   |   | 1,481 |   |
| Investment securities gains (losses), net                                   |   |                             | -      |   |                             |   | 993     |                           |   |   | 12                             |   |   |   | 2,635 |   |
| Other-than-temporary impairment losses on investments                       |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Gross impairment losses                                                     |   |                             | -      |   |                             |   | -       |                           |   |   | -                              |   |   |   | - |   |
| Less: Impairments recognized in other comprehensive income                  |   |                             | -      |   |                             |   | -       |                           |   |   | -                              |   |   |   | - |   |
| Net impairment losses recognized in earnings                                |   |                             | -      |   |                             |   | -       |                           |   |   | -                              |   |   |   | - |   |
| Total non-interest income                                                   |   |                             | 1,902  |   |                             |   | 3,494   |                           |   |   | 4,673                          |   |   |   | 6,908 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Non-interest expense                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Salaries and employee benefits                                              |   |                             | 2,250  |   |                             |   | 6,413   |                           |   |   | 8,751                          |   |   |   | 13,249 |   |
| Net occupancy and equipment expense                                         |   |                             | 692    |   |                             |   | 2,273   |                           |   |   | 2,740                          |   |   |   | 4,557 |   |
| Foreclosed asset related expense                                            |   |                             | 43     |   |                             |   | 5,149   |                           |   |   | 565                            |   |   |   | 6,249 |   |
| Other expense                                                               |   |                             | 1,614  |   |                             |   | 6,660   |                           |   |   | 5,868                          |   |   |   | 11,474 |   |
| Total non-interest expense                                                  |   |                             | 4,599  |   |                             |   | 20,495  |                           |   |   | 17,924                         |   |   |   | 35,529 |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Income (loss) before income taxes                                           |   |                             | 1,101  |   |                             |   | (14,099 | )                              |   |   | 2,744                          |   |   |   | (19,150 | ) |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Income tax expense                                                          |   |                             | 141    |   |                             |   | -       |                           |   |   | 716                            |   |   |   | - |   |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Net income (loss)                                                           |   | $                                | 960    |   |                             | $      | (14,099 | )                              |   | $      | 2,028                          |   |   | $ | (19,150 | ) |
| Preferred dividends earned by preferred shareholders and discount accretion |   |                             | -      |   |                             |   | 669     |                           |   |   | -                              |   |   |   | 1,329 |   |
| Net loss allocated to common shareholders                                   |   | $                                | 960    |   |                             | $      | (14,768 | )                              |   | $      | 2,028                          |   |   | $ | (20,479 | ) |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Basic income (loss) per common share                                        |   | $                                | 0.08   |   |                             | $      | (99.45  | )                              |   | $      | 0.17                           |   |   | $ | (137.96 | ) |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |
| Diluted income (loss) per common share                                      |   | $                                | 0.07   |   |                             | $      | (99.45  | )                              |   | $      | 0.14                           |   |   | $ | (137.96 | ) |
|                                                                        |   |                             |   |   |                             |   |    |                           |   |   |                           |   |   |   |   |   |

----

| Successor Company                                                |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|----------------------------------------------------|--------|--------|----------------------------------|--------|
| Balance April 1, 2011                                            |   |          | 12,350 |   |         | $      | 1,235  |                       |   | $      | 185,039           |   |   | $                                                  | 1,628  |   |                             | $      | (921 | ) |   | $ | 186,981 |   |
| Comprehensive income:                                            |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   |   |   |
| Net income                                                       |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               | 960    |   |                             |   |   |   |   |   | 960 |   |
| Net market valuation adjustment on securities available for sale |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   | 2,721 |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   | - |   |   |   |   |   |
| Other comprehensive income, net of tax expense of $1,642         |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   | 2,721 |   |
| Comprehensive income                                             |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   | 3,681 |   |
| Effects of merger of TIB Bank into Capital Bank, NA              |   |          |   |   |         |   |   |                       |   |   | (10,123           | )      |   |                                               |   |   |                             |   | (490 | )  |   |   | (10,613 | ) |
| Common stock issued in Rights Offering                           |   |          |   |   |         |   |   |                       |   |   | (13               | )      |   |                                               |   |   |                             |   |   |   |   |   | (13 | ) |
| Balance, June 30, 2011                                           |   |          | 12,350 |   |         | $      | 1,235  |                       |   | $      | 174,903           |   |   | $                                                  | 2,588  |   |                             | $      | 1,310 |   |   | $ | 180,036 |   |

| Predecessor Company                                              |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings (Accumulated Deficit) |   |   | Accumulated Other Comprehensive (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, April 1, 2010                                           |   |                  | 37     |   |                 | $      | 33,919 |          |   |   | 149          |   |   | $                          | 15     |   |                                    | $      | 76,304 |                                   |   | $      | (55,234       | )      |   | $                                | (3,649 | ) |   | $ | (569 | ) |   | $ | 50,786 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   | (14,099       | )      |   |                             |   |   |   |   |   |   |   |   | (14,099 | ) |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             | 3,236  |   |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             | (993   | ) |   |   |   |   |   |   |   |   |
| Other comprehensive income                                       |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 2,243 |   |
| Comprehensive loss                                               |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (11,856 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 191    |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   | (191          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   | 106    |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 106 |   |
| Balance, June 30, 2010                                           |   |                  | 37     |   |                 | $      | 34,110 |          |   |   | 149          |   |   | $                          | 15     |   |                                    | $      | 76,410 |                                   |   | $      | (69,524       | )      |   | $                                | (1,406 | ) |   | $ | (569 | ) |   | $ | 39,036 |   |

----

| Successor Company                                                |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings |   |   | Accumulated Other Comprehensive Income (Loss) |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-------------------|--------|--------|----------------------------------------------------|--------|--------|----------------------------------|--------|
| Balance January 1, 2011                                          |   |          | 11,817 |   |         | $      | 1,182  |                       |   | $      | 177,316           |   |   | $                                                  | 560    |   |                             | $      | (2,308 | ) |   | $ | 176,750 |   |
| Comprehensive income:                                            |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   |   |   |
| Net income                                                       |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               | 2,028  |   |                             |   |   |   |   |   | 2,028 |   |
| Net market valuation adjustment on securities available for sale |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   | 4,115 |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   | (7 | ) |   |   |   |   |
| Other comprehensive income, net of tax expense of $2,479         |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   | 4,108 |   |
| Comprehensive income                                             |   |          |   |   |         |   |   |                       |   |   |              |   |   |                                               |   |   |                             |   |   |   |   |   | 6,136 |   |
| Common stock issued in Rights Offering                           |   |          | 533    |   |         |   | 53     |                       |   |   | 7,710             |   |   |                                               |   |   |                             |   |   |   |   |   | 7,763 |   |
| Effects of merger of TIB Bank into Capital Bank, NA              |   |          |   |   |         |   |   |                       |   |   | (10,123           | )      |   |                                               |   |   |                             |   | (490 | )  |   |   | (10,613 | ) |
| Balance, June 30, 2011                                           |   |          | 12,350 |   |         | $      | 1,235  |                       |   | $      | 174,903           |   |   | $                                                  | 2,588  |   |                             | $      | 1,310 |   |   | $ | 180,036 |   |

| Predecessor Company                                              |   |  PreferredShares |   |   |  PreferredStock |   |   | Common Shares |   |   | Common Stock |   |   | Additional Paid in Capital |   |   | Retained Earnings (Accumulated Deficit) |   |   | Accumulated Other Comprehensive (Loss) |   |   | TreasuryStock |   |   | Total Shareholders’ Equity |   |
|------------------------------------------------------------------|--------|-----------------------|--------|--------|----------------------|--------|--------|---------------|--------|--------|--------------|--------|--------|----------------------------|--------|--------|-----------------------------------------|--------|--------|----------------------------------------|--------|--------|---------------|--------|--------|----------------------------------|--------|
| Balance, January 1, 2010                                         |   |                  | 37     |   |                 | $      | 33,730 |          |   |   | 149          |   |   | $                          | 15     |   |                                    | $      | 76,154 |                                   |   | $      | (49,994       | )      |   | $                                | (3,818 | ) |   | $ | (569 | ) |   | $ | 55,518 |   |
| Comprehensive loss:                                              |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                         |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   | (19,150       | )      |   |                             |   |   |   |   |   |   |   |   | (19,150 | ) |
| Net market valuation adjustment on securities available for sale |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             | 5,047  |   |   |   |   |   |   |   |   |   |
| Less: reclassification adjustment for gains                      |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             | (2,635 | ) |   |   |   |   |   |   |   |   |
| Other comprehensive income                                       |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 2,412 |   |
| Comprehensive loss                                               |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | (16,738 | ) |
| Preferred stock discount accretion                               |   |                  |   |   |                 |   | 380    |          |   |   |         |   |   |                       |   |   |                                    |   |   |                                   |   |   | (380          | )      |   |                             |   |   |   |   |   |   |   |   | - |   |
| Stock-based compensation and related tax effect                  |   |                  |   |   |                 |   |   |          |   |   |         |   |   |                       |   |   |                                    |   | 256    |                                   |   |   |          |   |   |                             |   |   |   |   |   |   |   |   | 256 |   |
| Balance, June 30, 2010                                           |   |                  | 37     |   |                 | $      | 34,110 |          |   |   | 149          |   |   | $                          | 15     |   |                                    | $      | 76,410 |                                   |   | $      | (69,524       | )      |   | $                                | (1,406 | ) |   | $ | (569 | ) |   | $ | 39,036 |   |

----

| TIB FINANCIAL CORP.CONSOLIDATED STATEMENTS OF CASH FLOWSINCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(Unaudited)(Dollars in thousands) |
|-------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                               |   | Successor Company              |     |    | Predecessor Company            |   |
|----------------------------------------------------------------------------------------------------|--------|--------------------------------|----------|---------|--------------------------------|--------|
|                                                                                               |   | Six Months Ended June 30, 2011 |     |    | Six Months Ended June 30, 2010 |   |
| Cash flows from operating activities:                                                              |   |                           |     |    |                           |   |
| Net income (loss)                                                                                  |   | $                              | 2,028    |    |                           | $      | (19,150 | ) |
| Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |   |                           |     |    |                           |   |   |   |
| Accretion of acquired loans                                                                        |   |                           | (17,059  | )       |                           |   | - |   |
| Equity in income from investment in Capital Bank, NA                                               |   |                           | (658     | )  |                           |   | - |   |
| Depreciation and amortization                                                                      |   |                           | 337      |    |                           |   | 2,267 |   |
| Provision for loan losses                                                                          |   |                           | 621      |    |                           |   | 12,625 |   |
| Deferred income tax expense                                                                        |   |                           | 287      |    |                           |   | - |   |
| Investment securities net realized gains                                                           |   |                           | (12      | )       |                           |   | (2,635 | ) |
| Net amortization of investment premium/discount                                                    |   |                           | 1,967    |    |                           |   | 1,588 |   |
| Stock-based compensation                                                                           |   |                           | -        |    |                           |   | 256 |   |
| (Gain)/Loss on sales of OREO                                                                       |   |                           | (121     | )       |                           |   | 111 |   |
| OREO valuation adjustments                                                                         |   |                           | -        |    |                           |   | 4,776 |   |
| Loss on the sale of indirect auto loans                                                            |   |                           | -        |    |                           |   | 346 |   |
| Other                                                                                              |   |                           | (656     | )       |                           |   | 264 |   |
| Mortgage loans originated for sale                                                                 |   |                           | (17,154  | )       |                           |   | (37,650 | ) |
| Proceeds from sales of mortgage loans originated for sale                                          |   |                           | 24,854   |    |                           |   | 36,264 |   |
| Fees on mortgage loans sold                                                                        |   |                           | (498     | )       |                           |   | (764 | ) |
| Change in accrued interest receivable and other assets                                             |   |                           | (2,641   | )       |                           |   | 3,819 |   |
| Change in accrued interest payable and other liabilities                                           |   |                           | 5,063    |    |                           |   | 4,834 |   |
| Net cash (used in) provided by operating activities                                                |   |                           | (3,642   | )       |                           |   | 6,951 |   |
|                                                                                               |   |                           |     |    |                           |   |   |   |
| Cash flows from investing activities:                                                              |   |                           |     |    |                           |   |   |   |
| Net change in cash due to merger of TIB Bank with and into Capital Bank, NA                        |   |                           | (103,654 | )       |                           |   | - |   |
| Investment in Capital Bank, NA                                                                     |   |                           | (5,241   | )       |                           |   | - |   |
| Purchases of investment securities available for sale                                              |   |                           | (15,474  | )       |                           |   | (265,628 | ) |
| Sales of investment securities available for sale                                                  |   |                           | 2,319    |    |                           |   | 188,601 |   |
| Repayments of principal and maturities of investment securities available for sale                 |   |                           | 43,101   |    |                           |   | 48,202 |   |
| Sales of FHLB Stock                                                                                |   |                           | 244      |    |                           |   | - |   |
| Principal repayments on loans, net of loans originated or acquired                                 |   |                           | (7,069   | )       |                           |   | 29,752 |   |
| Purchases of premises and equipment                                                                |   |                           | (405     | )       |                           |   | (12,350 | ) |
| Proceeds from sales of loans                                                                       |   |                           | -        |    |                           |   | 25,767 |   |
| Proceeds from sale of OREO                                                                         |   |                           | 8,844    |    |                           |   | 3,604 |   |
| Proceeds from disposal of equipment                                                                |   |                           | -        |    |                           |   | 41 |   |
| Net cash (used in) provided by investing activities                                                |   |                           | (77,335  | )       |                           |   | 17,989 |   |
|                                                                                               |   |                           |     |    |                           |   |   |   |
| Cash flows from financing activities:                                                              |   |                           |     |    |                           |   |   |   |
| Net increase (decrease) in demand, money market and savings accounts                               |   |                           | 78,957   |    |                           |   | (87,461 | ) |
| Net increase (decrease) in time deposits                                                           |   |                           | (138,414 | )       |                           |   | 59,576 |   |
| Net change in federal funds purchased and securities sold under agreements to repurchase           |   |                           | (4,979   | )  |                           |   | (6,581 | )  |
| Repayment of long term FHLB advances                                                               |   |                           | (10,000  | )       |                           |   | - |   |
| Net proceeds from common stock rights offering                                                     |   |                           | 7,764    |    |                           |   | - |   |
| Net cash used in financing activities                                                              |   |                           | (66,672  | )       |                           |   | (34,466 | ) |
|                                                                                               |   |                           |     |    |                           |   |   |   |
| Net decrease in cash and cash equivalents                                                          |   |                           | (147,649 | )       |                           |   | (9,526 | ) |
| Cash and cash equivalents at beginning of period                                                   |   |                           | 153,794  |    |                           |   | 167,402 |   |
| Cash and cash equivalents at end of period                                                         |   | $                              | 6,145    |    |                           | $      | 157,876 |   |
|                                                                                               |   |                           |     |    |                           |   |   |   |
| Supplemental disclosures of cash paid:                                                             |   |                           |     |    |                           |   |   |   |
| Interest                                                                                           |   | $                              | 5,304    |    |                           | $      | 10,999 |   |
| Supplemental information:                                                                          |   |                           |     |    |                           |   |   |   |
| Transfer of loans to OREO                                                                          |   |                           | 4,752    |    |                           |   | 25,702 |   |
| See accompanying notes to consolidated financial statements                                        |   |

----

----

|                                                  |   | Successor Company                |   |   | Predecessor Company             |   |   | Successor Company              |   |   | Predecessor Company            |   |
|-------------------------------------------------------|--------|----------------------------------|--------|--------|---------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|
|                                                  |   | Three Months Ended June 30, 2011 |   |   | Three Months EndedJune 30, 2010 |   |   | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30, 2010 |   |
| Weighted average number of common shares outstanding: |   |                             |   |   |                            |   |   |                           |   |   |                           |   |
| Basic                                                 |   |                             | 12,350 |   |                            |   | 148    |                           |   |   | 12,055                         |   |   |   | 148 |   |
| Dilutive effect of options outstanding                |   |                             | -      |   |                            |   | -      |                           |   |   | -                              |   |   |   | - |   |
| Dilutive effect of restricted shares                  |   |                             | -      |   |                            |   | -      |                           |   |   | -                              |   |   |   | - |   |
| Dilutive effect of warrants outstanding               |   |                             | 1,080  |   |                            |   | -      |                           |   |   | 1,993                          |   |   |   | - |   |
| Diluted                                               |   |                             | 13,430 |   |                            |   | 148    |                           |   |   | 14,048                         |   |   |   | 148 |   |

|                                  |   | Successor Company                |   |   | Predecessor Company             |   |   | Successor Company              |   |   | Predecessor Company            |   |
|---------------------------------------|--------|----------------------------------|--------|--------|---------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|
|                                  |   | Three Months Ended June 30, 2011 |   |   | Three Months EndedJune 30, 2010 |   |   | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30, 2010 |   |
| Anti-dilutive stock options           |   |                             | 6      |   |                            |   | 8      |                           |   |   | 7                              |   |   |   | 8 |   |
| Anti-dilutive restricted stock awards |   |                             | -      |   |                            |   | 0      |                           |   |   | -                              |   |   |   | 0 |   |
| Anti-dilutive warrants                |   |                             | -      |   |                            |   | 24     |                           |   |   | 5                              |   |   |   | 24 |   |

----

----

| (Successor Company)       |   | Period From April 29, 2011 Through June 30, 2011 |   |
|---------------------------|--------|--------------------------------------------------|--------|
| Interest income           |   | $                                                | 20,710 |   |
| Interest expense          |   |                                             | 3,280  |   |
| Net interest income       |   |                                             | 17,430 |   |
| Provision for loan losses |   |                                             | 6,496  |   |
| Non-interest income       |   |                                             | 4,465  |   |
| Non-interest expense      |   |                                             | 13,388 |   |
| Net income                |   | $                                                | 1,248  |   |

| (Successor Company)                                |   | December 31, 2010 |    |
|----------------------------------------------------|--------|-------------------|---------|
|                                               |   | Amortized Cost    |    |   | Unrealized Gains |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |
| U.S. Government agencies and corporations          |   | $                 | 40,980  |   |   | $ | 15 |   |   | $ | 296 |   |   | $ | 40,699 |   |
| States and political subdivisions—tax exempt |   |              | 3,082   |   |   |   | 2 |   |   |   | 25 |   |   |   | 3,059 |   |
| States and political subdivisions—taxable    |   |              | 2,308   |   |   |   | - |   |   |   | 151 |   |   |   | 2,157 |   |
| Marketable equity securities                       |   |              | 102     |   |   |   | - |   |   |   | 28 |   |   |   | 74 |   |
| Mortgage-backed securities—residential       |   |              | 372,409 |   |   |   | 946 |   |   |   | 4,152 |   |   |   | 369,203 |   |
| Corporate bonds                                    |   |              | 2,104   |   |   |   | 1 |   |   |   | - |   |   |   | 2,105 |   |
| Collateralized debt obligation                     |   |              | 807     |   |   |   | - |   |   |   | 12 |   |   |   | 795 |   |
|                                               |   | $                 | 421,792 |   |   | $ | 964 |   |   | $ | 4,664 |   |   | $ | 418,092 |   |

| (Successor Company)                                |   | Less than 12 Months  |    |   | 12 Months or Longer |   |   | Total                |   |
|----------------------------------------------------|--------|----------------------|---------|--------|---------------------|--------|--------|----------------------|--------|
| December 31, 2010                                  |   | Estimated Fair Value |    |   | Unrealized Losses   |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |   | Estimated Fair Value |   |   | Unrealized Losses |   |
| U.S. Government agencies and corporations          |   | $                    | 14,304  |   |                | $      | 296    |                 |   |   | - |   |   |   | - |   |   | $ | 14,304 |   |   | $ | 296 |   |
| States and political subdivisions—tax exempt |   |                 | 2,458   |   |                |   | 25     |                 |   |   | - |   |   |   | - |   |   |   | 2,458 |   |   |   | 25 |   |
| States and political subdivisions-taxable          |   |                 | 2,157   |   |                |   | 151    |                 |   |   | - |   |   |   | - |   |   |   | 2,157 |   |   |   | 151 |   |
| Marketable equity securities                       |   |                 | 74      |   |                |   | 28     |                 |   |   | - |   |   |   | - |   |   |   | 74 |   |   |   | 28 |   |
| Mortgage-backed securities - residential           |   |                 | 213,153 |   |                |   | 4,152  |                 |   |   | - |   |   |   | - |   |   |   | 213,153 |   |   |   | 4,152 |   |
| Corporate bonds                                    |   |                 | -       |   |                |   | -      |                 |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Collateralized debt obligation                     |   |                 | 795     |   |                |   | 12     |                 |   |   | - |   |   |   | - |   |   |   | 795 |   |   |   | 12 |   |
| Total temporarily impaired                         |   | $                    | 232,941 |   |                | $      | 4,664  |                 |   | $ | - |   |   | $ | - |   |   | $ | 232,941 |   |   | $ | 4,664 |   |

----

| (Successor Company)               |   | December 31, 2010 |      |
|-----------------------------------|--------|-------------------|-----------|
| Real estate mortgage loans:       |   |              |      |
| Commercial                        |   | $                 | 612,455   |   |
| Residential                       |   |              | 225,850   |   |
| Construction and vacant land      |   |              | 38,956    |   |
| Commercial and agricultural loans |   |              | 60,642    |   |
| Indirect auto loans               |   |              | 28,038    |   |
| Home equity loans                 |   |              | 29,658    |   |
| Other consumer loans              |   |              | 8,730     |   |
| Total loans                       |   |              | 1,004,329 |   |
|                              |   |              |      |   |
| Net deferred loan costs           |   |              | 301       |   |
| Loans, net of deferred loan costs |   | $                 | 1,004,630 |   |

|   (Successor Company)                      |   | Three Months Ended June 30, 2011 |     |   | Six Months Ended June 30, 2011 |   |
|-------------------------------------------------|--------|----------------------------------|----------|--------|--------------------------------|--------|
| Balance, beginning of period                    |   | $                                | 250,840  |   |                           | $      | 263,381 |   |
| New loans purchased                             |   |                             | -        |   |                           |   | - |   |
| Accretion of income                             |   |                             | (4,518   | )      |                           |   | (17,059 | ) |
| Reclassifications from nonaccretable difference |   |                             | -        |   |                           |   | - |   |
| Reduction due to deconsolidation of the Bank    |   |                             | (246,322 | )      |                           |   | (246,322 | ) |
| Balance, end of period                          |   | $                                | -        |   |                           | $      | - |   |

|   | ● | the estimate of the remaining life of PCI loans which may change the amount of future interest income, and possibly principal, expected to be collected; |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | the estimate of the amount of contractually required principal and interest payments over the estimated life that will not be collected (the nonaccretable difference); and |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ● | indices for PCI loans with variable rates of interest. |
|--------|---------|--------------------------------------------------------|

----

|                                         |   | Successor Company                |   |   | Predecessor Company              |   |   | Successor Company              |   |   | Predecessor Company            |   |
|----------------------------------------------|--------|----------------------------------|--------|--------|----------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|
|                                         |   | Three Months Ended June 30, 2011 |   |   | Three Months Ended June 30, 2010 |   |   | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30, 2010 |   |
| Balance, beginning of period                 |   | $                                | 877    |   |                             | $      | 27,829 |                           |   | $      | 402                            |   |   | $ | 29,083 |   |
| Provision for loan losses charged to expense |   |                             | 136    |   |                             |   | 7,700  |                           |   |   | 621                            |   |   |   | 12,625 |   |
| Loans charged off                            |   |                             | (14    | )      |                             |   | (8,634 | )                              |   |   | (24                            | )      |   |   | (14,987 | ) |
| Recoveries of loans previously charged off   |   |                             | -      |   |                             |   | 815    |                           |   |   | -                              |   |   |   | 989 |   |
| Reduction due to deconsolidation of the Bank |   |                             | (999   | )      |                             |   | -      |                           |   |   | (999                           | )      |   |   | - |   |
| Balance, end of period                       |   | $                                | -      |   |                             | $      | 27,710 |                           |   | $      | -                              |   |   | $ | 27,710 |   |

|  (Successor Company)         |   | March 31, 2011 |   |   | Provision |   |   | Net Charge-offs |   |   | Reduction Due to Deconsolidation of the Bank |   |   | June 30, 2011 |   |
|-----------------------------------|--------|----------------|--------|--------|-----------|--------|--------|-----------------|--------|--------|----------------------------------------------|--------|--------|---------------|--------|
| Real estate mortgage loans:       |   |           |   |   |      |   |   |            |   |   |                                         |   |   |          |   |
| Commercial                        |   | $              | 158    |   |      | $      | 50     |            |   | $      | -                                            |   |   | $             | (208   | ) |   | $ | - |   |
| Residential                       |   |           | 341    |   |      |   | 29     |            |   |   | -                                            |   |   |          | (370   | ) |   |   | - |   |
| Construction and vacant land      |   |           | 61     |   |      |   | 14     |            |   |   | -                                            |   |   |          | (75    | ) |   |   | - |   |
| Commercial and agricultural loans |   |           | 55     |   |      |   | (18    | )               |   |   | -                                            |   |   |          | (37    | ) |   |   | - |   |
| Indirect auto loans               |   |           | 217    |   |      |   | 65     |            |   |   | (14                                          | )      |   |          | (268   | ) |   |   | - |   |
| Home equity loans                 |   |           | 30     |   |      |   | (5     | )               |   |   | -                                            |   |   |          | (25    | ) |   |   | - |   |
| Other consumer loans              |   |           | 15     |   |      |   | 1      |            |   |   | -                                            |   |   |          | (16    | ) |   |   | - |   |
| Total loans                       |   | $              | 877    |   |      | $      | 136    |            |   | $      | (14                                          | )      |   | $             | (999   | ) |   | $ | - |   |

|  (Successor Company)         |   | December 31, 2010 |   |   | Provision |   |   | Net Charge-offs |   |   | Reduction Due to Deconsolidation of the Bank |   |   | June 30, 2011 |   |
|-----------------------------------|--------|-------------------|--------|--------|-----------|--------|--------|-----------------|--------|--------|----------------------------------------------|--------|--------|---------------|--------|
| Real estate mortgage loans:       |   |              |   |   |      |   |   |            |   |   |                                         |   |   |          |   |
| Commercial                        |   | $                 | 7      |   |      | $      | 201    |            |   | $      | -                                            |   |   | $             | (208   | ) |   | $ | - |   |
| Residential                       |   |              | 164    |   |      |   | 206    |            |   |   | -                                            |   |   |          | (370   | ) |   |   | - |   |
| Construction and vacant land      |   |              | -      |   |      |   | 75     |            |   |   | -                                            |   |   |          | (75    | ) |   |   | - |   |
| Commercial and agricultural loans |   |              | 24     |   |      |   | 13     |            |   |   | -                                            |   |   |          | (37    | ) |   |   | - |   |
| Indirect auto loans               |   |              | 184    |   |      |   | 108    |            |   |   | (24                                          | )      |   |          | (268   | ) |   |   | - |   |
| Home equity loans                 |   |              | 14     |   |      |   | 11     |            |   |   | -                                            |   |   |          | (25    | ) |   |   | - |   |
| Other consumer loans              |   |              | 9      |   |      |   | 7      |            |   |   | -                                            |   |   |          | (16    | ) |   |   | - |   |
| Total loans                       |   | $                 | 402    |   |      | $      | 621    |            |   | $      | (24                                          | )      |   | $             | (999   | ) |   | $ | - |   |

----

| (Successor Company)          |   |                                  |   |   |                                  |   |
|------------------------------|--------|---------------------------------------|--------|--------|---------------------------------------|--------|
|   December 31, 2010     |   | Allowance for Loan Losses             |   |   | Loans                                 |   |
|                         |   | Individually Evaluated for Impairment |   |   | Collectively Evaluated for Impairment |   |   | Purchased Credit-Impaired |   |   | Individually Evaluated for Impairment |   |   | Collectively Evaluated for Impairment |   |   | Purchased Credit-Impaired |   |
| Real estate mortgage loans:  |   |                                  |   |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial                   |   | $                                     | -      |   |                                  | $      | 7 |   |   | $ | - |   |   | $ | - |   |   | $ | 552 |   |   | $ | 599,820 |   |
| Residential                  |   |                                  | -      |   |                                  |   | 164 |   |   |   | - |   |   |   | - |   |   |   | 11,868 |   |   |   | 213,983 |   |
| Farmland                     |   |                                  | -      |   |                                  |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 12,083 |   |
| Construction and vacant land |   |                                  | -      |   |                                  |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 38,956 |   |
| Commercial and agricultural  |   |                                  | -      |   |                                  |   | 24 |   |   |   | - |   |   |   | - |   |   |   | 4,901 |   |   |   | 55,740 |   |
| Indirect auto loans          |   |                                  | -      |   |                                  |   | 184 |   |   |   | - |   |   |   | - |   |   |   | 6,295 |   |   |   | 21,744 |   |
| Home equity loans            |   |                                  | -      |   |                                  |   | 14 |   |   |   | - |   |   |   | - |   |   |   | 25,305 |   |   |   | 4,353 |   |
| Other consumer loans         |   |                                  | -      |   |                                  |   | 9 |   |   |   | - |   |   |   | - |   |   |   | 5,546 |   |   |   | 3,183 |   |
| Total loans                  |   | $                                     | -      |   |                                  | $      | 402 |   |   | $ | - |   |   | $ | - |   |   | $ | 54,467 |   |   | $ | 949,862 |   |

| (Successor Company)                      | Adequately Capitalized Requirement | June 30, 2011 Actual | December 31, 2010 Actual |
|------------------------------------------|------------------------------------|----------------------|--------------------------|
|                                     |                               |                 |                     |
| Tier 1 Capital (to Average Assets)       | 3 4.0%                        | 28.5 %               | 8.2%                     |
|                                     |                               |                 |                     |
| Tier 1 Capital (to Risk Weighted Assets) | 3 4.0%                        | 98.4 %               | 13.3%                    |
|                                     |                               |                 |                     |
| Total Capital (to Risk Weighted Assets)  | 3 8.0%                        | 98.4 %               | 13.4%                    |
|                                     |                               |                 |                     |

----

| (Successor Company)                                |   |              |    |   | Fair Value Measurements at December 31, 2010 Using            |   |
|----------------------------------------------------|--------|-------------------|---------|--------|---------------------------------------------------------------|--------|
|                                               |   | December 31, 2010 |    |   | 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          |   | $                 | 40,699  |   |                                                          | $      | - |   |   | $ | 40,699 |   |   | $ | - |   |
| States and political subdivisions—tax exempt |   |              | 3,059   |   |                                                          |   | - |   |   |   | 3,059 |   |   |   | - |   |
| States and political subdivisions—taxable    |   |              | 2,157   |   |                                                          |   | - |   |   |   | 2,157 |   |   |   | - |   |
| Marketable equity securities                       |   |              | 74      |   |                                                          |   | 74 |   |   |   | - |   |   |   | - |   |
| Mortgage-backed securities—residential       |   |              | 369,203 |   |                                                          |   | - |   |   |   | 369,203 |   |   |   | - |   |
| Corporate bonds                                    |   |              | 2,105   |   |                                                          |   | - |   |   |   | 2,105 |   |   |   | - |   |
| Collateralized debt obligations                    |   |              | 795     |   |                                                          |   | - |   |   |   | - |   |   |   | 795 |   |
| Available for sale securities                      |   | $                 | 418,092 |   |                                                          | $      | 74 |   |   | $ | 417,223 |   |   | $ | 795 |   |

| (Predecessor Company)                                        |   | Fair Value Measurements Using Significant Unobservable Inputs (Level 3)Collateralized Debt Obligations |
|--------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------|
|                                                         |   |                                                                                                   |   |
|                                                         |   | Three months Ended June 30, 2010                                                                       |   | Six months Ended June 30, 2010 |
| Balance, beginning of period                                 |   | $                                                                                                      | 769 |   |   | $ | 759 |   |
| Included in earnings – other than temporary impairment |   |                                                                                                   | - |   |   |   | - |   |
| Included in other comprehensive income                       |   |                                                                                                   | (11 | ) |   |   | (1 | ) |
| Transfer in to Level 3                                       |   |                                                                                                   | - |   |   |   | - |   |
| Balance, end of period                                       |   | $                                                                                                      | 758 |   |   | $ | 758 |   |

| (Successor Company)      |   |              |   |   | Fair Value Measurements at December 31, 2010 Using            |   |
|--------------------------|--------|-------------------|--------|--------|---------------------------------------------------------------|--------|
|                     |   | December 31, 2010 |   |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Assets:                  |   |              |   |   |                                                          |   |   |   |   |   |   |   |
| Other real estate owned  |   |              | 25,673 |   |                                                          |   | - |   |   |   | - |   |   |   | 25,673 |   |
| Other repossessed assets |   |              | 104    |   |                                                          |   | - |   |   |   | 104 |   |   |   | - |   |

----

|                                                             |   | June 30, 2011  |   |   | December 31, 2010    |   |
|------------------------------------------------------------------|--------|----------------|--------|--------|----------------------|--------|
| (Successor Company)                                              |   | Carrying Value |   |   | Estimated Fair Value |   |   | Carrying Value |   |   | Estimated Fair Value |   |
| Financial assets:                                                |   |           |   |   |                 |   |   |   |   |   |   |   |
| Cash and cash equivalents                                        |   | $              | 6,145  |   |                 | $      | 6,145 |   |   | $ | 153,794 |   |   | $ | 153,794 |   |
| Investment securities available for sale                         |   |           | -      |   |                 |   | - |   |   |   | 418,092 |   |   |   | 418,092 |   |
| Loans, net                                                       |   |           | -      |   |                 |   | - |   |   |   | 1,004,228 |   |   |   | 995,744 |   |
| Federal Home Loan Bank and Independent Bankers’ Bank stock |   |           | -      |   |                 |   | - |   |   |   | 9,621 |   |   | NM |   |
| Accrued interest receivable                                      |   |           | -      |   |                 |   | - |   |   |   | 4,917 |   |   |   | 4,917 |   |
|                                                             |   |           |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities:                                           |   |           |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |
| Non-contractual deposits                                         |   | $              | -      |   |                 | $      | - |   |   | $ | 648,019 |   |   | $ | 648,019 |   |
| Contractual deposits                                             |   |           | -      |   |                 |   | - |   |   |   | 719,006 |   |   |   | 719,328 |   |
| Federal Home Loan Bank Advances                                  |   |           | -      |   |                 |   | - |   |   |   | 131,116 |   |   |   | 130,906 |   |
| Short-term borrowings                                            |   |           | -      |   |                 |   | - |   |   |   | 47,158 |   |   |   | 47,156 |   |
| Subordinated debentures                                          |   |           | 23,031 |   |                 |   | 23,240 |   |   |   | 22,887 |   |   |   | 25,267 |   |
| Accrued interest payable                                         |   |           | 2,904  |   |                 |   | 2,904 |   |   |   | 7,260 |   |   |   | 7,260 |   |
|                                                             |   |           |   |   |                 |   |   |   |   |   |   |   |   |   |   |   |

----

Item 2.

----

|   |  ● | TIB Bank, which was the wholly-owned banking subsidiary of TIB Financial Corp., was merged with and into NAFH National Bank;                                                                                                |
|--------|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |          |                                                                                                                                                                                                                        |
|   |  ● | Capital Bank, which was the wholly-owned banking subsidiary of Capital Bank Corporation (“Capital Bank Corp.”), an affiliate and majority owned subsidiary of NAFH was merged with and into NAFH National Bank; |

----

|   |          |                                                                                                                                                                                                                                                  |
|--------|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |  ● | NAFH National Bank changed its name to and was rebranded as Capital Bank, NA,                                                                                                                                                                         |
|   |          |                                                                                                                                                                                                                                                  |
|   |  ● | As a result of the mergers, the Company held a 33% ownership interest in Capital Bank, NA at June 30, 2011; and                                                                                                                                       |
|   |          |                                                                                                                                                                                                                                                  |
|   |  ● | Naples Capital Advisors, Inc and Capital Bank, NA’s trust department continued to establish new investment management and trust relationships, increasing the market value of assets under management to $225 million as of June 30, 2011. |

----

----

|                                                                  |   | Successor Company |    |   |           | Predecessor Company |   |
|-----------------------------------------------------------------------|--------|-------------------|---------|--------|----------------|---------------------|--------|
|                                                                  |   | 2011              |    |   |           | 2010                |   |
|  (Dollars in thousands)                                          |   | AverageBalances   |    |   | Income/Expense |                |   | Yields/Rates |   |   |   | AverageBalances |   |   | Income/Expense |   |   | Yields/Rates |   |
| Interest-earning assets:                                              |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)                                                          |   | $                 | 339,036 |   |           | $                   | 4,355  |   |   |   | 5.15 | % |   |   | $ | 1,116,406 |   |   | $ | 14,656 |   |   |   | 5.27 | % |
| Investment securities (2)                                             |   |              | 133,543 |   |           |                | 908    |   |   |   | 2.73 | % |   |   |   | 310,715 |   |   |   | 2,292 |   |   |   | 2.96 | % |
| Interest-bearing deposits in other banks                              |   |              | 37,091  |   |           |                | 31     |   |   |   | 0.34 | % |   |   |   | 119,817 |   |   |   | 75 |   |   |   | 0.25 | % |
| Federal Home Loan Bank stock                                          |   |              | 3,110   |   |           |                | 6      |   |   |   | 0.77 | % |   |   |   | 10,447 |   |   |   | 7 |   |   |   | 0.27 | % |
| Total interest-earning assets                                         |   |              | 512,780 |   |           |                | 5,300  |   |   |   | 4.15 | % |   |   |   | 1,557,385 |   |   |   | 17,030 |   |   |   | 4.39 | % |
|                                                                  |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-earning assets:                                          |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                               |   |              | 8,423   |   |           |                |   |   |   |   |   |   |   |   |   | 21,036 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                           |   |              | 14,118  |   |           |                |   |   |   |   |   |   |   |   |   | 50,972 |   |   |   |   |   |   |   |   |   |
|      Equity method investment in Capital Bank, NA |   |              | 127,987 |   |           |                |   |   |   |   |   |   |   |   |   | - |   |   |   |   |   |   |   |   |   |
| Other assets                                                          |   |              | 36,162  |   |           |                |   |   |   |   |   |   |   |   |   | 57,093 |   |   |   |   |   |   |   |   |   |
| Total non-interest-earning assets                                     |   |              | 186,690 |   |           |                |   |   |   |   |   |   |   |   |   | 129,101 |   |   |   |   |   |   |   |   |   |
| Total assets                                                          |   | $                 | 699,470 |   |           |                |   |   |   |   |   |   |   |   | $ | 1,686,486 |   |   |   |   |   |   |   |   |   |
|                                                                  |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                         |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing deposits:                                            |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Time deposits                                                         |   | $                 | 196,358 |   |           | $                   | 580    |   |   |   | 1.18 | % |   |   | $ | 714,003 |   |   | $ | 3,710 |   |   |   | 2.08 | % |
| Money market                                                          |   |              | 70,570  |   |           |                | 129    |   |   |   | 0.73 | % |   |   |   | 178,889 |   |   |   | 470 |   |   |   | 1.05 | % |
| NOW accounts                                                          |   |              | 60,135  |   |           |                | 50     |   |   |   | 0.33 | % |   |   |   | 210,200 |   |   |   | 192 |   |   |   | 0.37 | % |
| Savings deposits                                                      |   |              | 37,353  |   |           |                | 63     |   |   |   | 0.68 | % |   |   |   | 75,833 |   |   |   | 137 |   |   |   | 0.72 | % |
| Total interest-bearing deposits                                       |   |              | 364,416 |   |           |                | 822    |   |   |   | 0.90 | % |   |   |   | 1,178,925 |   |   |   | 4,509 |   |   |   | 1.53 | % |
|                                                                  |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other interest-bearing liabilities:                                   |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Short-term borrowings and FHLB advances                               |   |              | 54,076  |   |           |                | 69     |   |   |   | 0.51 | % |   |   |   | 193,268 |   |   |   | 1,206 |   |   |   | 2.50 | % |
| Long-term borrowings                                                  |   |              | 22,984  |   |           |                | 466    |   |   |   | 8.13 | % |   |   |   | 63,000 |   |   |   | 671 |   |   |   | 4.27 | % |
| Total interest-bearing liabilities                                    |   |              | 441,476 |   |           |                | 1,357  |   |   |   | 1.23 | % |   |   |   | 1,435,193 |   |   |   | 6,386 |   |   |   | 1.78 | % |
|                                                                  |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing liabilities and shareholders’ equity:      |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                       |   |              | 72,545  |   |           |                |   |   |   |   |   |   |   |   |   | 187,898 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                                     |   |              | 5,513   |   |           |                |   |   |   |   |   |   |   |   |   | 12,503 |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                            |   |              | 179,936 |   |           |                |   |   |   |   |   |   |   |   |   | 50,892 |   |   |   |   |   |   |   |   |   |
| Total non-interest-bearing liabilities and shareholders’ equity |   |              | 257,994 |   |           |                |   |   |   |   |   |   |   |   |   | 251,293 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                      |   | $                 | 699,470 |   |           |                |   |   |   |   |   |   |   |   | $ | 1,686,486 |   |   |   |   |   |   |   |   |   |
|                                                                  |   |              |    |   |           |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread  (tax equivalent basis)                |   |              |    |   |           |                |   |   |   |   | 2.92 | % |   |   |   |   |   |   |   |   |   |   |   | 2.61 | % |
| Net interest income  (tax equivalent basis)                 |   |              |    |   |           | $                   | 3,943  |   |   |   |   |   |   |   |   |   |   |   | $ | 10,644 |   |   |   |   |   |
| Net interest margin (3) (tax equivalent basis)                        |   |              |    |   |           |                |   |   |   |   | 3.08 | % |   |   |   |   |   |   |   |   |   |   |   | 2.74 | % |

----

| (1) | Average loans include non-performing loans.                                                                                                                                                                                |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates in adjusting tax exempt interest on tax exempt investment securities and loans to a fully taxable basis. |
| (3) | Net interest margin is net interest income divided by average total interest-earning assets.                                                                                                                               |

----

----

|                                                                             |   | Successor Company |      |   | Predecessor Company |   |
|----------------------------------------------------------------------------------|--------|-------------------|-----------|--------|---------------------|--------|
|                                                                             |   | 2011              |      |   | 2010                |   |
|  (Dollars in thousands)                                                     |   | AverageBalances   |      |   | Income/Expense      |   |   | Yields/Rates |   |   | AverageBalances |   |   | Income/Expense |   |   | Yields/Rates |   |
| Interest-earning assets:                                                         |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans (1)(2)                                                                     |   | $                 | 674,231   |   |                | $      | 17,776 |   |   |   | 5.32 | % |   | $ | 1,147,456 |   |   | $ | 30,674 |   |   |   | 5.39 | % |
| Investment securities (2)                                                        |   |              | 270,081   |   |                |   | 3,266 |   |   |   | 2.44 | % |   |   | 297,279 |   |   |   | 4,537 |   |   |   | 3.08 | % |
| Interest-bearing deposits in other banks                                         |   |              | 74,638    |   |                |   | 101 |   |   |   | 0.27 | % |   |   | 120,013 |   |   |   | 149 |   |   |   | 0.25 | % |
| Federal Home Loan Bank stock                                                     |   |              | 6,205     |   |                |   | 31 |   |   |   | 1.01 | % |   |   | 10,447 |   |   |   | 10 |   |   |   | 0.19 | % |
| Total interest-earning assets                                                    |   |              | 1,025,155 |   |                |   | 21,174 |   |   |   | 4.17 | % |   |   | 1,575,195 |   |   |   | 35,370 |   |   |   | 4.53 | % |
|                                                                             |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-earning assets:                                                     |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and due from banks                                                          |   |              | 15,768    |   |                |   |   |   |   |   |   |   |   |   | 22,821 |   |   |   |   |   |   |   |   |   |
| Premises and equipment, net                                                      |   |              | 28,476    |   |                |   |   |   |   |   |   |   |   |   | 45,918 |   |   |   |   |   |   |   |   |   |
| Equity method investment in Capital Bank, NA       |   |              | 64,347    |   |                |   |   |   |   |   |   |   |   |   | - |   |   |   |   |   |   |   |   |   |
| Other assets                                                                     |   |              | 75,516    |   |                |   |   |   |   |   |   |   |   |   | 49,436 |   |   |   |   |   |   |   |   |   |
| Total non-interest-earning assets                                                |   |              | 184,107   |   |                |   |   |   |   |   |   |   |   |   | 118,175 |   |   |   |   |   |   |   |   |   |
| Total assets                                                                     |   | $                 | 1,209,262 |   |                |   |   |   |   |   |   |   |   | $ | 1,693,370 |   |   |   |   |   |   |   |   |   |
|                                                                             |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                                    |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing deposits:                                                       |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Time deposits                                                                    |   | $                 | 418,892   |   |                | $      | 2,368 |   |   |   | 1.14 | % |   | $ | 701,993 |   |   | $ | 7,738 |   |   |   | 2.22 | % |
| Money market                                                                     |   |              | 136,504   |   |                |   | 497 |   |   |   | 0.73 | % |   |   | 191,023 |   |   |   | 998 |   |   |   | 1.05 | % |
| NOW accounts                                                                     |   |              | 117,528   |   |                |   | 180 |   |   |   | 0.31 | % |   |   | 210,356 |   |   |   | 384 |   |   |   | 0.37 | % |
| Savings deposits                                                                 |   |              | 70,128    |   |                |   | 231 |   |   |   | 0.66 | % |   |   | 81,490 |   |   |   | 291 |   |   |   | 0.72 | % |
| Total interest-bearing deposits                                                  |   |              | 743,052   |   |                |   | 3,276 |   |   |   | 0.89 | % |   |   | 1,184,862 |   |   |   | 9,411 |   |   |   | 1.60 | % |
|                                                                             |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other interest-bearing liabilities:                                              |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Short-term borrowings and FHLB advances                                          |   |              | 112,544   |   |                |   | 320 |   |   |   | 0.57 | % |   |   | 193,679 |   |   |   | 2,443 |   |   |   | 2.54 | % |
| Long-term borrowings                                                             |   |              | 22,948    |   |                |   | 922 |   |   |   | 8.10 | % |   |   | 63,000 |   |   |   | 1,325 |   |   |   | 4.24 | % |
| Total interest-bearing liabilities                                               |   |              | 878,544   |   |                |   | 4,518 |   |   |   | 1.04 | % |   |   | 1,441,541 |   |   |   | 13,179 |   |   |   | 1.84 | % |
|                                                                             |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing liabilities and shareholders’ equity:                 |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                                  |   |              | 140,187   |   |                |   |   |   |   |   |   |   |   |   | 186,535 |   |   |   |   |   |   |   |   |   |
| Other liabilities                                                                |   |              | 8,265     |   |                |   |   |   |   |   |   |   |   |   | 12,058 |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                                       |   |              | 182,266   |   |                |   |   |   |   |   |   |   |   |   | 53,236 |   |   |   |   |   |   |   |   |   |
| Total non-interest-bearing liabilities and shareholders’ equity            |   |              | 330,718   |   |                |   |   |   |   |   |   |   |   |   | 251,829 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                                 |   | $                 | 1,209,262 |   |                |   |   |   |   |   |   |   |   | $ | 1,693,370 |   |   |   |   |   |   |   |   |   |
|                                                                             |   |              |      |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest rate spread  (tax equivalent basis)                           |   |              |      |   |                |   |   |   |   |   | 3.13 | % |   |   |   |   |   |   |   |   |   |   | 2.69 | % |
| Net interest income  (tax equivalent basis)                            |   |              |      |   |                | $      | 16,656 |   |   |   |   |   |   |   |   |   |   | $ | 22,191 |   |   |   |   |   |
| Net interest margin (3) (tax equivalent basis)                                   |   |              |      |   |                |   |   |   |   |   | 3.28 | % |   |   |   |   |   |   |   |   |   |   | 2.84 | % |

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| (1)    | Average loans include non-performing loans.                                                                                                                                                                                |
|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2)                   | Interest income and rates include the effects of a tax equivalent adjustment using applicable statutory tax rates in adjusting tax exempt interest on tax exempt investment securities and loans to a fully taxable basis. |
| (3)                   | Net interest margin is net interest income divided by average total interest-earning assets.                                                                                                                               |

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| (Dollars in thousands)                               |   | Successor Company                |   |   | Predecessor Company              |   |   | Successor Company              |   |   | Predecessor Company            |   |
|------------------------------------------------------|--------|----------------------------------|--------|--------|----------------------------------|--------|--------|--------------------------------|--------|--------|--------------------------------|--------|
|                                                 |   | Three Months Ended June 30, 2011 |   |   | Three Months Ended June 30, 2010 |   |   | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30, 2010 |   |
| Equity in income from investment in Capital Bank, NA |   | $                                | 658    |   |                             | $      | -      |                           |   | $      | 658                            |   |   | $ | - |   |
| Investment advisory fees                             |   |                             | 379    |   |                             |   | 313    |                           |   |   | 766                            |   |   |   | 620 |   |
| Service charges on deposit accounts                  |   |                             | 257    |   |                             |   | 839    |                           |   |   | 1,070                          |   |   |   | 1,754 |   |
| Management fee income                                |   |                             | 196    |   |                             |   | -      |                           |   |   | 721                            |   |   |   | - |   |
| Debit card income                                    |   |                             | 146    |   |                             |   | 389    |                           |   |   | 559                            |   |   |   | 733 |   |
| Fees on mortgage loans sold                          |   |                             | 144    |   |                             |   | 481    |                           |   |   | 498                            |   |   |   | 764 |   |
| Other                                                |   |                             | 64     |   |                             |   | 214    |                           |   |   | 230                            |   |   |   | 383 |   |
| Earnings on bank owned life insurance policies       |   |                             | 58     |   |                             |   | 265    |                           |   |   | 159                            |   |   |   | 365 |   |
| Investment securities gains, net                     |   |                             | -      |   |                             |   | 993    |                           |   |   | 12                             |   |   |   | 2,635 |   |
| Loss on sale of indirect loans                       |   |                             | -      |   |                             |   | -      |                           |   |   | -                              |   |   |   | (346 | ) |
| Total non-interest income                            |   | $                                | 1,902  |   |                             | $      | 3,494  |                           |   | $      | 4,673                          |   |   | $ | 6,908 |   |
|                                                 |   |                             |   |   |                             |   |   |                           |   |   |                           |   |   |   |   |   |

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| (Dollars in thousands)            |   | Successor Company               |   |   | Predecessor Company              |   |   | Successor Company              |   |   | Predecessor Company           |   |
|-----------------------------------|--------|---------------------------------|--------|--------|----------------------------------|--------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                              |   | Three Months Ended June 30,2011 |   |   | Three Months Ended June 30, 2010 |   |   | Six Months Ended June 30, 2011 |   |   | Six Months Ended June 30,2010 |   |
| Salary and employee benefits      |   | $                               | 2,250  |   |                             | $      | 6,413  |                           |   | $      | 8,751                         |   |   | $ | 13,249 |   |
| Net occupancy expense             |   |                            | 692    |   |                             |   | 2,273  |                           |   |   | 2,740                         |   |   |   | 4,557 |   |
| Legal, and other professional     |   |                            | 476    |   |                             |   | 777    |                           |   |   | 1,359                         |   |   |   | 1,640 |   |
| Computer services                 |   |                            | 214    |   |                             |   | 647    |                           |   |   | 628                           |   |   |   | 1,369 |   |
| Other operating expense           |   |                            | 191    |   |                             |   | 483    |                           |   |   | 595                           |   |   |   | 1,062 |   |
| Amortization of intangibles       |   |                            | 189    |   |                             |   | 389    |                           |   |   | 552                           |   |   |   | 779 |   |
| FDIC and state assessments        |   |                            | 157    |   |                             |   | 1,453  |                           |   |   | 1,278                         |   |   |   | 2,315 |   |
| Insurance, non-building           |   |                            | 144    |   |                             |   | 340    |                           |   |   | 527                           |   |   |   | 652 |   |
| Postage, courier and armored car  |   |                            | 109    |   |                             |   | 270    |                           |   |   | 377                           |   |   |   | 552 |   |
| Marketing and community relations |   |                            | 58     |   |                             |   | 276    |                           |   |   | 264                           |   |   |   | 658 |   |
| Foreclosed asset related expense  |   |                            | 43     |   |                             |   | 5,149  |                           |   |   | 565                           |   |   |   | 6,249 |   |
| Travel expenses                   |   |                            | 34     |   |                             |   | 84     |                           |   |   | 73                            |   |   |   | 166 |   |
| Operating supplies                |   |                            | 33     |   |                             |   | 130    |                           |   |   | 175                           |   |   |   | 275 |   |
| Directors’ fees             |   |                            | 9      |   |                             |   | 214    |                           |   |   | 40                            |   |   |   | 409 |   |
| Capital raise expenses            |   |                            | -      |   |                             |   | 1,597  |                           |   |   | -                             |   |   |   | 1,597 |   |
| Total non-interest expense        |   | $                               | 4,599  |   |                             | $      | 20,495 |                           |   | $      | 17,924                        |   |   | $ | 35,529 |   |

|   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|

----

----

Item 3

Item 4

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PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

Item 1a. Risk Factors

Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds

Item 3.  Defaults upon Senior Securities

Item 5.  Other Information

Item 6.  Exhibits

|   | Exhibit 2.1  | - | Agreement of Merger of TIB Bank with and into NAFH National Bank, by and between NAFH National Bank and TIB Bank, dated as of April 27, 2011 (incorporated by reference to Exhibit 2.1 of the Company’s Current Report on Form 8-K filed with the SEC on May 3, 2011)  (Exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted exhibit will be furnished supplementally to the Securities and Exchange Commission upon request)         |
|--------|--------------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | Exhibit 2.2  | - | Agreement of Merger of Capital Bank with and into NAFH National Bank, by and between NAFH National Bank and Capital Bank, dated as of June 30, 2011 (incorporated by reference to Exhibit 2.1 of the Company’s Current Report on Form 8-K filed with the SEC on July 7, 2011)  (Exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted exhibit will be furnished supplementally to the Securities and Exchange Commission upon request) |
|   | 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                                                                                                                                                                                                                                                                                                                                                                                                            |

|                                         |   | TIB FINANCIAL CORP.                                                          |
|----------------------------------------------|--------|------------------------------------------------------------------------------|
|   Date:  August 15, 2011 |   |     /s/ R. Eugene Taylor                                 |
|                                         |   | R. Eugene TaylorChairman and Chief Executive Officer                         |
|                                         |   |                                                                         |
|   Date:  August 15, 2011 |   |     /s/ Christopher G. Marshall                          |
|                                    |   | Christopher G. MarshallChief Financial Officer(Principal Accounting Officer) |