----

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**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

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**FORM      10-Q**

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| For                the quarterly period ended |   | Commission                File Number |
|-----------------------------------------------|--------|---------------------------------------|
| MARCH                31, 2007                 |   | 000-21329                             |

**TIB      FINANCIAL CORP.**

| 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. TYes                £No |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                               |                                                |
| Indicate                by check mark whether the registrant is a large accelerated filer,                an                accelerated filer, or a non-accelerated filer. See definition of                “accelerated filer and large accelerated filer” in Rule 12b-2 of the                Exchange Act (Check one):                                                                                                                                                                         |
| £                Large accelerated filer                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | T                Accelerated filer | £                Non-accelerated filer         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                               |                                                |
| Indicate                by check mark whether the registrant is a shell company (as defined                in                Rule 12b-2 of the Exchange Act). £Yes                TNo                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                               |                                                |
| Indicate                the number of shares outstanding of each of the issuer’s classes of common                stock, as of the latest practicable date:                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                               |                                                |
| Common                Stock, $0.10 Par Value                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |                               | 12,812,616                                          |
| Class                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                               | Outstanding                as of April 30, 2007     |

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**TIB      FINANCIAL CORP.**

**INDEX**

**PART      I. FINANCIAL INFORMATION**

|   |  Item 1. |  Financial Statements                                                                                     | 3  |
|--------|---------------|----------------------------------------------------------------------------------------------------------------|----|
|   |  Item 2. |  Management’s Discussion and Analysis of              Financial Condition and Results of Operations | 12 |
|   |  Item 3. |  Quantitative and Qualitative              Disclosures About Market Risk                                  | 21 |
|   |  Item 4. |  Controls and Procedures                                                                                  | 22 |

**PART      II. OTHER INFORMATION**

|   |  Item 1a. |  Risk Factors                                                     | 23 |
|--------|----------------|------------------------------------------------------------------------|----|
|   |  Item 4.  |  Submission of Matters to a Vote of              Security Holders | 23 |
|   |  Item 5.  |  Other Information                                                | 23 |
|   |  Item 6.  |  Exhibits                                                         | 23 |

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**PART      I. FINANCIAL INFORMATION**

**Item      1. Financial Statements**

| **TIB                FINANCIAL CORP.****CONSOLIDATED                BALANCE SHEETS***(Dollars                in thousands, except per share amounts)* |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                  |   |   | **March                31, 2007**  |   |   | **December                31, 2006** |   |
|                                                                                                                                                  |   |   | (Unaudited)  |   |   |   |   |
| **Asset**s                                                                                                                                            |   |   |   |   |   |   |   |
| Cash                and due from banks                                                                                                                |   | $ | 20,124 |   | $ | 25,223 |   |
| Federal                funds sold and securities purchased under agreements to                resell                                                  |   |   | 76,532 |   |   | 30,329 |   |
| Cash                and cash equivalents                                                                                                              |   |   | 96,656 |   |   | 55,552 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| Investment                securities available for sale                                                                                               |   |   | 142,227 |   |   | 131,199 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| Loans,                net of deferred loan costs and fees                                                                                             |   |   | 1,042,991 |   |   | 1,065,468 |   |
| Less:                Allowance for loan losses                                                                                                        |   |   | 9,044 |   |   | 9,581 |   |
| Loans,                net                                                                                                                             |   |   | 1,033,947 |   |   | 1,055,887 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| Premises                and equipment, net                                                                                                            |   |   | 34,268 |   |   | 34,102 |   |
| Intangible                assets, net                                                                                                                 |   |   | 741 |   |   | 813 |   |
| Accrued                interest receivable and other assets                                                                                           |   |   | 43,575 |   |   | 41,540 |   |
| Total                Assets                                                                                                                           |   | $ | 1,351,414 |   | $ | 1,319,093 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| **Liabilities                and Shareholders’ Equity**                                                                                         |   |   |   |   |   |   |   |
| **Liabilities**                                                                                                                                       |   |   |   |   |   |   |   |
| Deposits:                                                                                                                                             |   |   |   |   |   |   |   |
| Noninterest-bearing                demand                                                                                                             |   | $ | 183,846 |   | $ | 159,380 |   |
| Interest-bearing                                                                                                                                      |   |   | 873,717 |   |   | 870,077 |   |
| Total                deposits                                                                                                                         |   |   | 1,057,563 |   |   | 1,029,457 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| Federal                Home Loan Bank (FHLB) advances                                                                                                 |   |   | 125,000 |   |   | 125,000 |   |
| Short-term                borrowings                                                                                                                  |   |   | 29,505 |   |   | 22,250 |   |
| Long-term                borrowings                                                                                                                   |   |   | 33,000 |   |   | 37,000 |   |
| Accrued                interest payable and other liabilities                                                                                         |   |   | 18,221 |   |   | 19,524 |   |
| Total                liabilities                                                                                                                      |   |   | 1,263,289 |   |   | 1,233,231 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| **Shareholders’                equity**                                                                                                         |   |   |   |   |   |   |   |
| Preferred                stock - no par value: 5,000,000 shares authorized, 0 shares                issued                                            |   |   | - |   |   | - |   |
| Common                stock - $.10 par value: 40,000,000 shares authorized, 11,836,027                and                11,720,527 shares issued     |   |   | 1,184 |   |   | 1,172 |   |
| Additional                paid in capital                                                                                                             |   |   | 41,534 |   |   | 40,514 |   |
| Retained                earnings                                                                                                                      |   |   | 45,781 |   |   | 44,620 |   |
| Accumulated                other comprehensive loss                                                                                                   |   |   | (374 | ) |   | (444 | ) |
| Total                shareholders’ equity                                                                                                       |   |   | 88,125 |   |   | 85,862 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| Total                Liabilities and Shareholders’ Equity                                                                                       |   | $ | 1,351,414 |   | $ | 1,319,093 |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
|                                                                                                                                                  |   |   |   |   |   |   |   |
| *See                accompanying notes to consolidated financial                statements*                                                           |

----

| **TIB                FINANCIAL CORP.****CONSOLIDATED                STATEMENTS OF INCOME****(Unaudited)** |   |
|-----------------------------------------------------------------------------------------------------------|--------|
|                                                                                                      |   | **Three                months ended March 31,**  |
| *(Dollars                in thousands, except per share amounts)*                                         |   |   | **2007** |   |   | **2006** |   |
| **Interest                and dividend income**                                                           |   |   |   |   |   |   |   |
| Loans,                including fees                                                                      |   | $ | 20,958 |   | $ | 17,328 |   |
| Investment                securities:                                                                     |   |   |   |   |   |   |   |
| Taxable                                                                                                   |   |   | 1,434 |   |   | 1,050 |   |
| Tax-exempt                                                                                                |   |   | 171 |   |   | 165 |   |
| Interest-bearing                deposits in other banks                                                   |   |   | 8 |   |   | 4 |   |
| Federal                Home Loan Bank stock                                                               |   |   | 112 |   |   | 36 |   |
| Federal                funds sold and securities purchased under agreements to                resell      |   |   | 696 |   |   | 296 |   |
| Total                interest and dividend income                                                         |   |   | 23,379 |   |   | 18,879 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Interest                expense**                                                                       |   |   |   |   |   |   |   |
| Deposits                                                                                                  |   |   | 9,529 |   |   | 6,624 |   |
| Federal                Home Loan Bank advances                                                            |   |   | 1,470 |   |   | 241 |   |
| Short-term                borrowings                                                                      |   |   | 198 |   |   | 125 |   |
| Long-term                borrowings                                                                       |   |   | 680 |   |   | 407 |   |
| Total                interest expense                                                                     |   |   | 11,877 |   |   | 7,397 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Net                interest income                                                                        |   |   | 11,502 |   |   | 11,482 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Provision                for loan losses                                                                  |   |   | 472 |   |   | 554 |   |
| Net                interest income after provision for loan losses                                        |   |   | 11,030 |   |   | 10,928 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Non-interest                income**                                                                    |   |   |   |   |   |   |   |
| Service                charges on deposit accounts                                                        |   |   | 643 |   |   | 556 |   |
| Fees                on mortgage loans sold                                                                |   |   | 533 |   |   | 425 |   |
| Other                income                                                                               |   |   | 703 |   |   | 469 |   |
| Total                non-interest income                                                                  |   |   | 1,879 |   |   | 1,450 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Non-interest                expense**                                                                   |   |   |   |   |   |   |   |
| Salaries                and employee benefits                                                             |   |   | 5,504 |   |   | 4,948 |   |
| Net                occupancy and equipment expense                                                        |   |   | 1,909 |   |   | 1,482 |   |
| Other                expense                                                                              |   |   | 2,563 |   |   | 2,143 |   |
| Total                non-interest expense                                                                 |   |   | 9,976 |   |   | 8,573 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Income                before income tax expense                                                           |   |   | 2,933 |   |   | 3,805 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| Income                tax expense                                                                         |   |   | 1,062 |   |   | 1,442 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Net                income**                                                                             |   | $ | 1,871 |   | $ | 2,363 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Basic                earnings per common share**                                                        |   | $ | 0.16 |   | $ | 0.20 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| **Diluted                earnings per common share**                                                      |   | $ | 0.16 |   | $ | 0.20 |   |
|                                                                                                      |   |   |   |   |   |   |   |
| *See                accompanying notes to consolidated financial                statements*               |

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**TIB      FINANCIAL CORP.**

**Consolidated      Statements of Changes in Shareholders’ Equity**

**(Unaudited)**

*(Dollars      in thousands, except per share amounts)*

|                                                                                           |   |   | **Shares**  |   |   | **Common                Stock** |   |   | **Additional                Paid in Capital** |   |   | **Retained                Earnings** |   |   | **Accumulated                Other Comprehensive Income (Loss)** |   |   | **Total                Shareholders’ Equity** |   |
|------------------------------------------------------------------------------------------------|--------|--------|------------------|--------|--------|---------------------------------|--------|--------|-----------------------------------------------|--------|--------|--------------------------------------|--------|--------|------------------------------------------------------------------|--------|--------|-----------------------------------------------------|--------|
| **Balance,                January 1, 2007**                                                    |   |   | 11,720,527       |   | $      | 1,172                           |   | $      | 40,514                                        |   | $      | 44,620                               |   | $      | (                444                                             | )      | $      | 85,862                                              |   |
| Comprehensive                income:                                                           |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
| Net                income                                                                      |   |   |             |   |   |                            |   |   |                                          |   |   | 1,871                                |   |   |                                                             |   |   | 1,871                                               |   |
| Other                comprehensive income, net of tax expense of $43:                          |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
| Net                market valuation adjustment on securities available for                sale |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   | 70                                                               |   |   |                                                |   |
| Other                comprehensive income, net of tax                                          |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   | 70                                                  |   |
| Comprehensive                income                                                            |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   | $      | 1,941                                               |   |
| Stock-based                compensation                                                        |   |   |             |   |   |                            |   |   | 143                                           |   |   |                                 |   |   |                                                             |   |   | 143                                                 |   |
| Exercise                of stock options                                                       |   |   | 115,500          |   |   | 12                              |   |   | 872                                           |   |   |                                 |   |   |                                                             |   |   | 884                                                 |   |
| Income                tax benefit related to stock based compensation                          |   |   |             |   |   |                            |   |   | 5                                             |   |   |                                 |   |   |                                                             |   |   | 5                                                   |   |
| Cash                dividends declared, $.06 per share                                         |   |   |             |   |   |                            |   |   |                                          |   |   | (710                                 | )      |   |                                                             |   |   | (710                                                | )      |
| **Balance,                March 31, 2007**                                                     |   |   | 11,836,027       |   | $      | 1,184                           |   | $      | 41,534                                        |   | $      | 45,781                               |   | $      | (                374                                             | )      | $      | 88,125                                              |   |
|                                                                                           |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
|                                                                                           |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |

|                                                                                           |   |   | **Shares**  |   |   | **Common                Stock** |   |   | **Additional                Paid in Capital** |   |   | **Retained                Earnings** |   |   | **Accumulated                Other Comprehensive Income (Loss)** |   |   | **Total                Shareholders’ Equity** |   |
|------------------------------------------------------------------------------------------------|--------|--------|------------------|--------|--------|---------------------------------|--------|--------|-----------------------------------------------|--------|--------|--------------------------------------|--------|--------|------------------------------------------------------------------|--------|--------|-----------------------------------------------------|--------|
| **Balance,                January 1, 2006**                                                    |   |   | 11,585,196       |   | $      | 1,158                           |   | $      | 38,973                                        |   | $      | 38,136                               |   | $      | (743                                                             | )      | $      | 77,524                                              |   |
| Comprehensive                income:                                                           |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
| Net                income                                                                      |   |   |             |   |   |                            |   |   |                                          |   |   | 2,363                                |   |   |                                                             |   |   | 2,363                                               |   |
| Other                comprehensive loss, net of tax benefit of $80:                            |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
| Net                market valuation adjustment on securities available for                sale |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   | (133                                                             | )      |   |                                                |   |
| Other                comprehensive loss, net of tax                                            |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   | (133                                                | )      |
| Comprehensive                income                                                            |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   | $      | 2,230                                               |   |
| Restricted                stock grants                                                         |   |   | 8,680            |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   | -                                                   |   |
| Stock-based                compensation                                                        |   |   |             |   |   |                            |   |   | 116                                           |   |   |                                 |   |   |                                                             |   |   | 116                                                 |   |
| Exercise                of stock options                                                       |   |   | 74,200           |   |   | 8                               |   |   | 453                                           |   |   |                                 |   |   |                                                             |   |   | 461                                                 |   |
| Income                tax benefit related to stock based compensation                          |   |   |             |   |   |                            |   |   | 32                                            |   |   |                                 |   |   |                                                             |   |   | 32                                                  |   |
| Cash                dividends declared, $.05875 per share                                      |   |   |             |   |   |                            |   |   |                                          |   |   | (686                                 | )      |   |                                                             |   |   | (686                                                | )      |
| **Balance,                March 31, 2006**                                                     |   |   | 11,668,076       |   | $      | 1,166                           |   | $      | 39,574                                        |   | $      | 39,813                               |   | $      | (876                                                             | )      | $      | 79,677                                              |   |
|                                                                                           |   |   |             |   |   |                            |   |   |                                          |   |   |                                 |   |   |                                                             |   |   |                                                |   |
| *See                accompanying notes to consolidated financial                statements*    |

----

| **TIB                FINANCIAL CORP.****CONSOLIDATED                STATEMENTS OF CASH FLOWS****INCREASE                (DECREASE) IN CASH AND CASH EQUIVALENTS****(Unaudited)***(Dollars                in thousands)*** ** |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                              |   | **Three                Months Ended March 31,**  |
|                                                                                                                                                                                                                              |   |   | **2007** |   |   | **2006** |   |
| **Cash                flows from operating activities:**                                                                                                                                                                          |   |   |   |   |   |   |   |
| Net                income                                                                                                                                                                                                         |   | $ | 1,871 |   | $ | 2,363 |   |
| Adjustments                to reconcile net income to net cash provided by operating                activities:                                                                                                                   |   |   |   |   |   |   |   |
| Depreciation                and amortization                                                                                                                                                                                      |   |   | 751 |   |   | 659 |   |
| Provision                for loan losses                                                                                                                                                                                          |   |   | 472 |   |   | 554 |   |
| Deferred                income tax expense (benefit)                                                                                                                                                                              |   |   | 33 |   |   | (21 | ) |
| Stock                based compensation                                                                                                                                                                                           |   |   | 143 |   |   | 116 |   |
| Other                                                                                                                                                                                                                             |   |   | (221 | ) |   | 1 |   |
| Mortgage                loans originated for sale                                                                                                                                                                                 |   |   | (33,721 | ) |   | (25,851 | ) |
| Proceeds                from sales of mortgage loans                                                                                                                                                                              |   |   | 33,641 |   |   | 24,843 |   |
| Fees                on mortgage loans sold                                                                                                                                                                                        |   |   | (533 | ) |   | (425 | ) |
| (Increase)                decrease in accrued interest receivable and other assets                                                                                                                                                |   |   | (1,201 | ) |   | 288 |   |
| Increase                (decrease) in accrued interest payable and other                liabilities                                                                                                                               |   |   | 58 |   |   | (6,287 | ) |
| Net                cash provided by (used in) operating activities                                                                                                                                                                |   |   | 1,293 |   |   | (3,760 | ) |
|                                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| **Cash                flows from investing activities:**                                                                                                                                                                          |   |   |   |   |   |   |   |
| Purchases                of investment securities available for sale                                                                                                                                                              |   |   | (12,648 | ) |   | (37,459 | ) |
| Repayments                of principal and maturities of investment securities available for                sale                                                                                                                  |   |   | 1,752 |   |   | 933 |   |
| Net                purchase of FHLB stock                                                                                                                                                                                         |   |   | (223 | ) |   | (493 | ) |
| Net                (increase) decrease in loans                                                                                                                                                                                   |   |   | 19,977 |   |   | (53,326 | ) |
| Purchases                of premises and equipment                                                                                                                                                                                |   |   | (1,085 | ) |   | (3,747 | ) |
| Proceeds                from sale of premises, equipment and intangible assets                                                                                                                                                    |   |   | 491 |   |   | 130 |   |
| Net                cash provided by (used in) investing activities                                                                                                                                                                |   |   | 8,264 |   |   | (93,962 | ) |
|                                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| **Cash                flows from financing activities:**                                                                                                                                                                          |   |   |   |   |   |   |   |
| Net                increase in demand, money market and savings accounts                                                                                                                                                          |   |   | 72,216 |   |   | 92,689 |   |
| Net                (decrease) increase in time deposits                                                                                                                                                                           |   |   | (44,110 | ) |   | 19,914 |   |
| Net                increase in federal funds purchased and securities sold under agreements                to repurchase                                                                                                          |   |   | 7,255 |   |   | 2,286 |   |
| Increase                in long term FHLB advances                                                                                                                                                                                |   |   | 50,000 |   |   | 25,000 |   |
| Repayment                of long term FHLB advances                                                                                                                                                                               |   |   | (50,000 | ) |   | (25,000 | ) |
| Repayment                of notes payable                                                                                                                                                                                         |   |   | (4,000 | ) |   | - |   |
| Proceeds                from exercise of stock options                                                                                                                                                                            |   |   | 884 |   |   | 461 |   |
| Income                tax benefit related to stock-based compensation                                                                                                                                                             |   |   | 5 |   |   | 32 |   |
| Cash                dividends paid                                                                                                                                                                                                |   |   | (703 | ) |   | (681 | ) |
| Net                cash provided by financing activities                                                                                                                                                                          |   |   | 31,547 |   |   | 114,701 |   |
|                                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| **Net                increase (decrease) in cash and cash equivalents**                                                                                                                                                           |   |   | 41,104 |   |   | 16,979 |   |
| Cash                and cash equivalents at beginning of period                                                                                                                                                                   |   |   | 55,552 |   |   | 41,510 |   |
| **Cash                and cash equivalents at end of period**                                                                                                                                                                     |   | $ | 96,656 |   | $ | 58,489 |   |
|                                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| **Supplemental                disclosures of cash paid:**                                                                                                                                                                         |   |   |   |   |   |   |   |
| Interest                                                                                                                                                                                                                          |   | $ | 13,173 |   | $ | 8,401 |   |
| Income                taxes                                                                                                                                                                                                       |   |   | 913 |   |   | 3,925 |   |
|                                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| *See                accompanying notes to consolidated financial                statements*                                                                                                                                       |

----

**TIB            FINANCIAL CORP.**

**Unaudited            Condensed Notes to Consolidated Financial Statements**

**March            31, 2007**

***(Dollars            in thousands except for share and per share            amounts)***

**Note      1 - Basis of Presentation & Accounting Policies**

**Critical      Accounting Policies**

***Allowance      for Loan Losses***

----

**TIB                FINANCIAL CORP.**

**Unaudited                Condensed Notes to Consolidated Financial Statements**

**March                31, 2007**

***(Dollars                in thousands except for share and per share                amounts)***

***Earnings        Per Common Share***

**Recent      Accounting Pronouncements**

----

**TIB              FINANCIAL CORP.**

**Unaudited              Condensed Notes to Consolidated Financial Statements**

**March              31, 2007**

***(Dollars              in thousands except for share and per share              amounts)***

**Note      2 - Investment Securities**

|                                                              |   | **March                31, 2007**  |
|-------------------------------------------------------------------|--------|-----------------------------------------|
|                                                              |   |                                    | **Amortized****Cost**  |   |   | **Unrealized****Gains** |   |   | **Unrealized****Losses** |   |   | **Estimated****Fair                Value** |   |
| U.S.                Treasury securities                           |   | $                                       | 5,089 |   | $ | - |   | $ | 106 |   | $ | 4,983 |   |
| U.S.                Government agencies and corporations          |   |                                    | 91,678 |   |   | 455 |   |   | 1,062 |   |   | 91,071 |   |
| States                and political subdivisions—tax exempt |   |                                    | 10,484 |   |   | 17 |   |   | 81 |   |   | 10,420 |   |
| States                and political subdivisions—taxable    |   |                                    | 2,537 |   |   | 9 |   |   | - |   |   | 2,546 |   |
| Mortgage-backed                securities                         |   |                                    | 15,052 |   |   | 87 |   |   | 6 |   |   | 15,133 |   |
| Collateralized                debt obligations                    |   |                                    | 14,996 |   |   | 4 |   |   | 55 |   |   | 14,945 |   |
| Marketable                equity securities                       |   |                                    | 3,000 |   |   | 129 |   |   | - |   |   | 3,129 |   |
|                                                              |   | $                                       | 142,836 |   | $ | 701 |   | $ | 1,310 |   | $ | 142,227 |   |

|                                                              |   | **December                31, 2006**  |                              |
|-------------------------------------------------------------------|--------|--------------------------------------------|-----------------------------------|
|                                                              |   |                                       | **Amortized****Cost**   |   |   | **Unrealized****Gains** |   |   | **Unrealized****Losses** |   |   | **Estimated****Fair                Value** |   |
| U.S.                Treasury securities                           |   | $                                          | 5,087                             |   | $ | - |   | $ | 125 |   | $ | 4,962 |   |
| U.S.                Government agencies and corporations          |   |                                       | 84,014                            |   |   | 278 |   |   | 1,294 |   |   | 82,998 |   |
| States                and political subdivisions—tax exempt |   |                                       | 10,818                            |   |   | 22 |   |   | 98 |   |   | 10,742 |   |
| States                and political subdivisions—taxable    |   |                                       | 2,578                             |   |   | 12 |   |   | - |   |   | 2,590 |   |
| Mortgage-backed                securities                         |   |                                       | 16,428                            |   |   | 94 |   |   | 8 |   |   | 16,514 |   |
| Collateralized                debt obligations                    |   |                                       | 9,996                             |   |   | - |   |   | 87 |   |   | 9,909 |   |
| Marketable                equity securities                       |   |                                       | 3,000                             |   |   | 484 |   |   | - |   |   | 3,484 |   |
|                                                              |   | $                                          | 131,921                           |   | $ | 890 |   | $ | 1,612 |   | $ | 131,199 |   |

**Note      3 - Loans**

|                                             |   | **March                31,****2007** |      | **December                31,****2006** |   |
|--------------------------------------------------|--------|--------------------------------------|-----------|-----------------------------------------|--------|
| Real                estate mortgage loans:       |   |                                 |      |                                    |   |   |   |
| Commercial                                       |   | $                                    | 561,267   |                                    | $      | 546,276 |   |
| Residential                                      |   |                                 | 80,188    |                                    |   | 82,243 |   |
| Farmland                                         |   |                                 | 9,197     |                                    |   | 24,210 |   |
| Construction                and vacant land      |   |                                 | 155,421   |                                    |   | 157,672 |   |
| Commercial                and agricultural loans |   |                                 | 71,382    |                                    |   | 84,905 |   |
| Indirect                auto dealer loans        |   |                                 | 136,892   |                                    |   | 141,552 |   |
| Home                equity loans                 |   |                                 | 17,694    |                                    |   | 17,199 |   |
| Other                consumer loans              |   |                                 | 9,375     |                                    |   | 9,795 |   |
| Total                loans                       |   |                                 | 1,041,416 |                                    |   | 1,063,852 |   |
|                                             |   |                                 |      |                                    |   |   |   |
| Net                deferred loan costs           |   |                                 | 1,575     |                                    |   | 1,616 |   |
| Loans,                net of deferred loan costs |   | $                                    | 1,042,991 |                                    | $      | 1,065,468 |   |

----

**TIB              FINANCIAL CORP.**

**Unaudited              Condensed Notes to Consolidated Financial Statements**

**March              31, 2007**

***(Dollars              in thousands except for share and per share              amounts)***

**Note      4 - Allowance for Loan Losses**

|                                                             |   | **Three                Months Ended****March                31,**  |
|-------------------------------------------------------------|--------|-------------------------------------------------------------------------|
|                                                        |   |                                                                    | **2007** |   |   | **2006** |   |
| Balance,                January 1                           |   | $                                                                       | 9,581 |   | $ | 7,546 |   |
| Provision                for loan losses charged to expense |   |                                                                    | 472 |   |   | 554 |   |
| Loans                charged off                            |   |                                                                    | (1,058 | ) |   | (297 | ) |
| Recoveries                of loans previously charged off   |   |                                                                    | 49 |   |   | 40 |   |
| Balance,                March 31                            |   | $                                                                       | 9,044 |   | $ | 7,843 |   |

**Note      5 - Earnings Per Share and Common Stock**

|                                                           |   | **Three                Months Ended****March                31,**  |
|-----------------------------------------------------------|--------|-------------------------------------------------------------------------|
|                                                      |   |                                                                    | **2007** |   |   | **2006** |   |
| Basic                                                     |   |                                                                    | 11,702,150 |   |   | 11,559,394 |   |
| Dilutive                effect of options outstanding     |   |                                                                    | 231,408 |   |   | 271,732 |   |
| Dilutive                effect of restricted stock awards |   |                                                                    | 10,882 |   |   | 7,908 |   |
| Diluted                                                   |   |                                                                    | 11,944,440 |   |   | 11,839,034 |   |

**Note      6 - Capital Adequacy**

----

**TIB                FINANCIAL CORP.**

**Unaudited                Condensed Notes to Consolidated Financial Statements**

**March                31, 2007**

***(Dollars                in thousands except for share and per share                amounts)***

|                                                    |   | **Well                Capitalized Requirement** |       | **Adequately                Capitalized Requirement** |   | **March                31,****2007****Actual** |   | **December                31, 2006****Actual** |   |
|---------------------------------------------------------|--------|-------------------------------------------------|------------|-------------------------------------------------------|--------|------------------------------------------------|--------|------------------------------------------------|--------|
| Tier                1 Capital (to Average Assets)       |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |
| Consolidated                                            |   |                                            | N/A        |                                                  |   | 34.0                                      | %      |                                           | 8.6    | % |   | 8.8 | % |
| Bank                                                    |   |                                            | 35.0  | %                                                     |   | 34.0                                      | %      |                                           | 8.8    | % |   | 9.0 | % |
|                                                    |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |
| Tier                1 Capital (to Risk Weighted Assets) |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |
| Consolidated                                            |   |                                            | N/A        |                                                  |   | 34.0                                      | %      |                                           | 10.5   | % |   | 10.1 | % |
| Bank                                                    |   |                                            | 36.0  | %                                                     |   | 34.0                                      | %      |                                           | 10.7   | % |   | 10.4 | % |
|                                                    |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |
| Total                Capital (to Risk Weighted Assets)  |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |
| Consolidated                                            |   |                                            | N/A        |                                                  |   | 38.0                                      | %      |                                           | 11.7   | % |   | 11.8 | % |
| Bank                                                    |   |                                            | 310.0 | %                                                     |   | 38.0                                      | %      |                                           | 11.6   | % |   | 11.3 | % |
|                                                    |   |                                            |       |                                                  |   |                                           |   |                                           |   |   |   |   |   |

**Note      7 -Subsequent Event**

----

**Item      2. Management’s Discussion and Analysis of Financial Condition and Results of      Operations**

**Forward-looking      Statements**

**Quarterly      Summary**

**Three      Months Ended March 31, 2007 and 2006:**

***Results      of Operations***

----

***Net      Interest Income***

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **2007** |                    | **2006** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|-------------------------|----------|--------|
|  *(Dollars                in thousands)*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |     | **Average****Balances** |     |   | **Income/****Expense** |   |   | **Yields/****Rates** |   |   | **Average****Balances** |   |   | **Income/****Expense** |   |   | **Yields/****Rates** |   |
| Interest-earning                assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                (1)(2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $        | 1,060,523               |     | $      | 20,959 |   |   | 8.01 | % | $ | 913,725 |   | $ | 17,329 |   |   | 7.69 | % |
| Investment                securities (2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     | 134,666                 |     |   | 1,690 |   |   | 5.09 | % |   | 109,310 |   |   | 1,299 |   |   | 4.82 | % |
| Interest-bearing                deposits in other banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |     | 591                     |     |   | 8 |   |   | 5.49 | % |   | 396 |   |   | 4 |   |   | 4.10 | % |
| Federal                Home Loan Bank stock                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     | 7,711                   |     |   | 112 |   |   | 5.89 | % |   | 2,640 |   |   | 36 |   |   | 5.53 | % |
|                    Federal funds sold and securities purchased under agreements to                resell                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |     | 54,291                  |     |   | 696 |   |   | 5.20 | % |   | 27,128 |   |   | 296 |   |   | 4.43 | % |
| Total                interest-earning assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |     | 1,257,782               |     |   | 23,465 |   |   | 7.57 | % |   | 1,053,199 |   |   | 18,964 |   |   | 7.30 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-earning                assets:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                and due from banks                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |     | 23,027                  |     |   |   |   |   |   |   |   | 25,215 |   |   |   |   |   |   |   |
| Premises                and equipment, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |     | 34,398                  |     |   |   |   |   |   |   |   | 29,279 |   |   |   |   |   |   |   |
| Allowance                for loan losses                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |     | (9,336                  | )        |   |   |   |   |   |   |   | (7,895 | ) |   |   |   |   |   |   |
| Other                assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     | 35,593                  |     |   |   |   |   |   |   |   | 30,165 |   |   |   |   |   |   |   |
| Total                non-interest-earning assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |     | 83,682                  |     |   |   |   |   |   |   |   | 76,764 |   |   |   |   |   |   |   |
| Total                assets                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $        | 1,341,464               |     |   |   |   |   |   |   | $ | 1,129,963 |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing                deposits:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| NOW                accounts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | $        | 149,865                 |     | $      | 1,255 |   |   | 3.40 | % | $ | 134,403 |   | $ | 735 |   |   | 2.22 | % |
| Money                market                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     | 176,777                 |     |   | 1,814 |   |   | 4.16 | % |   | 167,499 |   |   | 1,262 |   |   | 3.06 | % |
| Savings                deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |     | 48,860                  |     |   | 139 |   |   | 1.15 | % |   | 49,282 |   |   | 75 |   |   | 0.62 | % |
| Time                deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |     | 513,335                 |     |   | 6,321 |   |   | 4.99 | % |   | 443,195 |   |   | 4,552 |   |   | 4.17 | % |
| Total                interest-bearing deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |     | 888,837                 |     |   | 9,529 |   |   | 4.35 | % |   | 794,379 |   |   | 6,624 |   |   | 3.38 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other                interest-bearing liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Short-term                borrowings and FHLB advances                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |     | 148,371                 |     |   | 1,668 |   |   | 4.56 | % |   | 38,421 |   |   | 366 |   |   | 3.86 | % |
| Long-term                borrowings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |     | 33,043                  |     |   | 680 |   |   | 8.35 | % |   | 17,000 |   |   | 407 |   |   | 9.71 | % |
| Total                interest-bearing liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |     | 1,070,251               |     |   | 11,877 |   |   | 4.50 | % |   | 849,800 |   |   | 7,397 |   |   | 3.53 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest-bearing                liabilities and shareholders’ equity:                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand                deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |     | 165,187                 |     |   |   |   |   |   |   |   | 182,878 |   |   |   |   |   |   |   |
| Other                liabilities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |     | 19,317                  |     |   |   |   |   |   |   |   | 18,590 |   |   |   |   |   |   |   |
| Shareholders’                equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |     | 86,709                  |     |   |   |   |   |   |   |   | 78,695 |   |   |   |   |   |   |   |
| Total                non-interest-bearing liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     | 271,213                 |     |   |   |   |   |   |   |   | 280,163 |   |   |   |   |   |   |   |
| Total                liabilities and shareholders’ equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | $        | 1,341,464               |     |   |   |   |   |   |   | $ | 1,129,963 |   |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                rate spread (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |     |                    |     |   |   |   |   | 3.07 | % |   |   |   |   |   |   |   | 3.77 | % |
| Net                interest income (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |     |                    |     | $      | 11,588 |   |   |   |   |   |   |   | $ | 11,567 |   |   |   |   |
| Net                interest margin (3) (tax equivalent basis)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |     |                    |     |   |   |   |   | 3.74 | % |   |   |   |   |   |   |   | 4.45 | % |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |     |                    |     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| _______(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. |

----

***Changes      in Net Interest Income***

|                                                                                                                                                                                                                                                                                                                 |   | **2007                Compared to 2006 (1)****Due                to Changes in**  |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------|
| *(Dollars                in thousands)*                                                                                                                                                                                                                                                                         |   |                                                                                   | **Average****Volume** |   |   | **Average****Rate** |   |   | **Net                Increase** |   |
| Interest                income                                                                                                                                                                                                                                                                                  |   |                                                                                   |   |   |   |   |   |   |   |   |
| Loans                (2)                                                                                                                                                                                                                                                                                        |   | $                                                                                      | 2,877 |   | $ | 753 |   | $ | 3,630 |   |
| Investment                securities (2)                                                                                                                                                                                                                                                                        |   |                                                                                   | 315 |   |   | 76 |   |   | 391 |   |
| Interest-bearing                deposits in other banks                                                                                                                                                                                                                                                         |   |                                                                                   | 2 |   |   | 2 |   |   | 4 |   |
| Federal                Home Loan Bank stock                                                                                                                                                                                                                                                                     |   |                                                                                   | 74 |   |   | 2 |   |   | 76 |   |
| Federal                funds sold and securities purchased under agreements to                resell                                                                                                                                                                                                            |   |                                                                                   | 341 |   |   | 59 |   |   | 400 |   |
| Total                interest income                                                                                                                                                                                                                                                                            |   |                                                                                   | 3,609 |   |   | 892 |   |   | 4,501 |   |
|                                                                                                                                                                                                                                                                                                            |   |                                                                                   |   |   |   |   |   |   |   |   |
| Interest                expense                                                                                                                                                                                                                                                                                 |   |                                                                                   |   |   |   |   |   |   |   |   |
| NOW                accounts                                                                                                                                                                                                                                                                                     |   |                                                                                   | 93 |   |   | 427 |   |   | 520 |   |
| Money                market                                                                                                                                                                                                                                                                                     |   |                                                                                   | 73 |   |   | 479 |   |   | 552 |   |
| Savings                deposits                                                                                                                                                                                                                                                                                 |   |                                                                                   | (1 | ) |   | 65 |   |   | 64 |   |
| Time                deposits                                                                                                                                                                                                                                                                                    |   |                                                                                   | 784 |   |   | 985 |   |   | 1,769 |   |
| Short-term                borrowings and FHLB advances                                                                                                                                                                                                                                                          |   |                                                                                   | 1,225 |   |   | 77 |   |   | 1,302 |   |
| Long-term                borrowings                                                                                                                                                                                                                                                                             |   |                                                                                   | 337 |   |   | (64 | ) |   | 273 |   |
| Total                interest expense                                                                                                                                                                                                                                                                           |   |                                                                                   | 2,511 |   |   | 1,969 |   |   | 4,480 |   |
|                                                                                                                                                                                                                                                                                                            |   |                                                                                   |   |   |   |   |   |   |   |   |
| Change                in net interest income                                                                                                                                                                                                                                                                    |   | $                                                                                      | 1,098 |   | $ | (1,077 | ) | $ | 21 |   |
|                                                                                                                                                                                                                                                                                                            |   |                                                                                   |   |   |   |   |   |   |   |   |
| ________(1)                The change in interest due to both rate and volume has been allocated                to                the volume and rate components in proportion to the relationship                of the                dollar amounts of the absolute change in each.                          |
| (2)                Interest income includes 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. |

***Provision      for Loan Losses***

----

***Non-interest      Income***

***Non-interest      Expense***

***Balance      Sheet***

----

***Loan      Portfolio Composition***

| *(Dollars                in thousands)*         |   |   | **Commercial****Real                Estate** |   |   | **Percentage                Composition** |   |
|-------------------------------------------------|--------|--------|----------------------------------------------|--------|--------|-------------------------------------------|--------|
|                                            |   |   |                                         |   |   |                                      |   |
| Mixed                Use Commercial/Residential |   | $      | 94,307                                       |   |   | 17                                        | %      |
| 1-4                Family and Multi Family      |   |   | 78,789                                       |   |   | 14                                        | %      |
| Hotels/Motels                                   |   |   | 78,443                                       |   |   | 14                                        | %      |
| Guesthouses                                     |   |   | 77,931                                       |   |   | 14                                        | %      |
| Office                Buildings                 |   |   | 72,329                                       |   |   | 13                                        | %      |
| Retail                Buildings                 |   |   | 60,251                                       |   |   | 11                                        | %      |
| Restaurants                                     |   |   | 32,961                                       |   |   | 6                                         | %      |
| Marinas/Docks                                   |   |   | 26,271                                       |   |   | 4                                         | %      |
| Warehouse                and Industrial         |   |   | 21,465                                       |   |   | 4                                         | %      |
| Other                                           |   |   | 18,520                                       |   |   | 3                                         | %      |
|                                            |   |   |                                         |   |   |                                      |   |
| Total                                           |   | $      | 561,267                                      |   |   | 100                                       | %      |
|                                            |   |   |                                         |   |   |                                      |   |
|                                            |   |   |                                         |   |   |                                      |   |

|                                              |   |   | **Construction                and Vacant Land ** |   |   | **Percentage****Composition** |   |
|---------------------------------------------------|--------|--------|-------------------------------------------------------|--------|--------|-------------------------------|--------|
|                                              |   |   |                                                  |   |   |                          |   |
| Construction:                                     |   |   |                                                  |   |   |                          |   |
| Residential                - owner occupied       |   | $      | 22,114                                                |   |   | 14                            | %      |
| Residential                - commercial developer |   |   | 40,496                                                |   |   | 26                            | %      |
| Commercial                structure               |   |   | 27,144                                                |   |   | 18                            | %      |
|                                              |   |   | 89,754                                                |   |   | 58                            | %      |
| Land:                                             |   |   |                                                  |   |   |                          |   |
| Raw                land                           |   |   | 7,290                                                 |   |   | 5                             | %      |
| Residential                lots                   |   |   | 17,803                                                |   |   | 11                            | %      |
| Land                development                   |   |   | 9,448                                                 |   |   | 6                             | %      |
| Commercial                lots                    |   |   | 31,126                                                |   |   | 20                            | %      |
| Total                land                         |   |   | 65,667                                                |   |   | 42                            | %      |
|                                              |   |   |                                                  |   |   |                          |   |
| Total                                             |   | $      | 155,421                                               |   |   | 100                           | %      |
|                                              |   |   |                                                  |   |   |                          |   |
|                                              |   |   |                                                  |   |   |                          |   |

***Non-performing      Assets***

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| *(Dollars                in thousands)*                                       |   |   | **March                31,****2007** |   |   | **December                31,****2006** |   |
|-------------------------------------------------------------------------------|--------|--------|--------------------------------------|--------|--------|-----------------------------------------|--------|
| Total                nonaccrual loans (a)                                     |   | $      | 3,046                                |   | $      | 4,223                                   |   |
| Accruing                loans delinquent 90 days or more                      |   |   | -                                    |   |   | -                                       |   |
| Total                non-performing loans                                     |   |   | 3,046                                |   |   | 4,223                                   |   |
|                                                                          |   |   |                                 |   |   |                                    |   |
| Repossessed                personal property (indirect auto dealer loans)     |   |   | 2,341                                |   |   | 1,958                                   |   |
| Other                real estate owned                                        |   |   | -                                    |   |   | -                                       |   |
| Other                assets (b)                                               |   |   | 2,900                                |   |   | 2,861                                   |   |
| Total                non-performing assets                                    |   | $      | 8,287                                |   | $      | 9,042                                   |   |
|                                                                          |   |   |                                 |   |   |                                    |   |
| Allowance                for loan losses                                      |   | $      | 9,044                                |   | $      | 9,581                                   |   |
|                                                                          |   |   |                                 |   |   |                                    |   |
| Non-performing                loans as a percent of gross loans               |   |   | 0.29                                 | %      |   | 0.40                                    | %      |
| Non-performing                assets as a percent of total assets             |   |   | 0.61                                 | %      |   | 0.69                                    | %      |
| Allowance                for loan losses as a percent of non-performing loans |   |   | 297                                  | %      |   | 227                                     | %      |
| Net                charge-offs as a percent of average loans (c)              |   |   | 0.39                                 | %      |   | 0.15                                    | %      |
|                                                                          |   |   |                                 |   |   |                                    |   |

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**Capital      and Liquidity**

----

**Asset      and Liability Management**

| *(Dollars                in thousands)*                                                              |   | **3                Months****or                Less** |     | **4                to 6****Months** |   | **7                to 12****Months** |   | **1                to 5****Years** |     | **Over                5****Years** |   | **Total** |   |
|------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------|----------|-------------------------------------|--------|--------------------------------------|--------|------------------------------------|----------|------------------------------------|--------|-----------|--------|
| **Interest-earning                assets:**                                                          |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| Loans                                                                                                |   | $                                                     | 362,588  |                                | $      | 39,520                               |   | $                                  | 73,828   |                               | $      | 447,005   |   | $ | 118,475 |   | $ | 1,041,416 |   |
| Investment                securities-taxable                                                         |   |                                                  | 21,706   |                                |   | 8,186                                |   |                               | 13,509   |                               |   | 34,498    |   |   | 50,779 |   |   | 128,678 |   |
| Investment                securities-tax exempt                                                      |   |                                                  | 636      |                                |   | 325                                  |   |                               | 1,979    |                               |   | 1,153     |   |   | 6,327 |   |   | 10,420 |   |
| Marketable                equity securities                                                          |   |                                                  | 3,129    |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 3,129 |   |
| FHLB                stock                                                                            |   |                                                  | 7,996    |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 7,996 |   |
| Federal                funds sold and securities purchased under agreements to                resell |   |                                                  | 76,532   |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 76,532 |   |
| Interest-bearing                deposit in other banks                                               |   |                                                  | 352      |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 352 |   |
| Total                interest-earning assets                                                         |   |                                                  | 472,939  |                                |   | 48,031                               |   |                               | 89,316   |                               |   | 482,656   |   |   | 175,581 |   |   | 1,268,523 |   |
|                                                                                                 |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| **Interest-bearing                liabilities:**                                                     |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| NOW                accounts                                                                          |   |                                                  | 145,216  |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 145,216 |   |
| Money                market                                                                          |   |                                                  | 188,220  |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 188,220 |   |
| Savings                deposits                                                                      |   |                                                  | 56,392   |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | - |   |   | 56,392 |   |
| Time                deposits                                                                         |   |                                                  | 173,841  |                                |   | 127,605                              |   |                               | 112,219  |                               |   | 70,221    |   |   | 3 |   |   | 483,889 |   |
| Subordinated                debentures                                                               |   |                                                  | 25,000   |                                |   | -                                    |   |                               | -        |                               |   | -         |   |   | 8,000 |   |   | 33,000 |   |
| Other                borrowings                                                                      |   |                                                  | 54,505   |                                |   | 50,000                               |   |                               | 50,000   |                               |   | -         |   |   | - |   |   | 154,505 |   |
| Total                interest-bearing liabilities                                                    |   |                                                  | 643,174  |                                |   | 177,605                              |   |                               | 162,219  |                               |   | 70,221    |   |   | 8,003 |   |   | 1,061,222 |   |
|                                                                                                 |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| Interest                sensitivity gap                                                              |   | $                                                     | (170,235 | )                                   | $      | (129,574                             | )      | $                                  | (72,903  | )                                  | $      | 412,435   |   | $ | 167,578 |   | $ | 207,301 |   |
|                                                                                                 |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| Cumulative                interest sensitivity gap                                                   |   | $                                                     | (170,235 | )                                   | $      | (299,809                             | )      | $                                  | (372,712 | )                                  | $      | 39,723    |   | $ | 207,301 |   | $ | 207,301 |   |
|                                                                                                 |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |
| Cumulative                sensitivity ratio                                                          |   |                                                  | (13.4    | %)                                  |   | (23.6                                | %)     |                               | (29.4    | %)                                 |   | 3.1       | %      |   | 16.3 | % |   | 16.3 | % |
|                                                                                                 |   |                                                  |     |                                |   |                                 |   |                               |     |                               |   |      |   |   |   |   |   |   |   |

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**Commitments**

**Item      3. Quantitative and Qualitative Disclosures About Market      Risk**

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**Item      4. Controls and Procedures**

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**PART      II. OTHER INFORMATION**

**Item      1a. Risk Factors**

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

**Item      5. Other Information**

**Item      6. Exhibits**

|   | Exhibit                10.1 | -      | Employment                Agreement between David F. Voigt, TIB Financial Corp., and The Bank                of                Venice effective May 1, 2007 *                                                                                          |
|--------|-----------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 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                                                                                                                   |
|   |  __________            |   |                                                                                                                                                                                                                                                   |
|   | *                           |   | Previously                filed by the Company as an Exhibit (with the same respective Exhibit                Number as indicated herein) to the Company’s May 2, 2007 8-K and such                document is incorporated herein by reference. |
|   |                        |   |                                                                                                                                                                                                                                                   |
|   |                        |   |                                                                                                                                                                                                                                                   |

----

**SIGNATURES**

|                                         |   | TIB                FINANCIAL CORP.                                                                                   |
|----------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------|
|   Date:                May 9, 2007 |   |   /s/                Edward V. Lett                                                                        |
|                                         |   | Edward                V. LettPresident                and Chief Executive Officer                                    |
|                                         |   |                                                                                                                 |
|   Date:                May 9, 2007 |   |   /s/                Stephen J. Gilhooly                                                                   |
|                                         |   | Stephen                J. GilhoolyExecutive                Vice President and Chief Financial                Officer |

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