UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q





[ X ] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT

For the Transition Period from to____________________________________

Commission File Number ____33-80076_______________________________

________________SNB BANCSHARES, INC

(Name of Small Business Issuer in its Charter)

GEORGIA 58-2107916_____________________

State or Other Jurisdiction of (I.R.S. Employer

Incorporation or Organization Identification No.)

2918 RIVERSIDE DRIVE, MACON, GEORGIA 31204________________

(Address of Principal Executive Offices) (Zip Code)

Issuer's Telephone Number

SAME AS ABOVE_________________________________________________

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)



Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or 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. XYes No



APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a
court. Yes No



APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:

3,372,969 Shares of $1.00 par value common stock as of March 31, 2001_____________



Transitional Small Business Disclosure Format (Check One): Yes No





|SNB BANCSHARES, INC. AND SUBSIDIARIES
|-------------------------------------
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|INDEX                                
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|PART I                               
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|PART II                              
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PART I, ITEM 1

Financial Information



|SNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(IN THOUSANDS EXCEPT SHARE AND PER SHARE AMOUNTS)
|-----------------------------------------------------------------------------------------------------------------------------
|                                                                                                                             
|ASSETS                                                                                                                       
|                                                                                                                             
|                                                                                                                             
|                                                                                                                             
|Cash and Due from Banks                                                                                                      
|                                                                                                                             
|Federal Funds Sold                                                                                                           
|                                                                                                                             
|Investments Securities                                                                                                       
|                                                                                                                             
|Loans                                                                                                                        
|                                                                                                                             
|Premises and Equipment                                                                                                       
|                                                                                                                             
|Other Real Estate                                                                                                            
|                                                                                                                             
|Other Assets                                                                                                                 
|                                                                                                                             
|Total Assets                                                                                                                 
|                                                                                                                             
|                                                                                                                             
|LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                         
|                                                                                                                             
|Deposits                                                                                                                     
|                                                                                                                             
|Demand Notes to U.S. Treasury                                                                                                
|                                                                                                                             
|Other Borrowed Money                                                                                                         
|                                                                                                                             
|Other Liabilities                                                                                                            
|                                                                                                                             
|Stockholders' Equity                                                                                                         
|Common Stock, Par Value $1 Per Share; Authorized
10,000,000 Shares, Issued 3,372,969 Shares                                  
|Paid-In Capital                                                                                                              
|Retained Earnings                                                                                                            
|Accumulated Other Comprehensive Income, Net of Tax                                                                           
|                                                                                                                             
|                                                                                                                             
|                                                                                                                             
|Total Liabilities and Stockholders' Equity                                                                                   

The accompanying notes are an integral part of these condensed consolidated balance sheets.



1

PART I, ITEM 1 (CONTINUED)

Financial Information



|SNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS ENDED MARCH 31
(UNAUDITED)
(IN THOUSANDS, EXCEPT PER SHARE AND SHARE AMOUNTS)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|Interest Income                                                                                                                                                                     
|Loans, Including Fees                                                                                                                                                               
|Federal Funds Sold                                                                                                                                                                  
|Investment Securities                                                                                                                                                               
|Other                                                                                                                                                                               
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|Interest Expense                                                                                                                                                                    
|Deposits                                                                                                                                                                            
|Federal Funds Purchased                                                                                                                                                             
|Demand Notes Issued to the U.S. Treasury                                                                                                                                            
|FHLB Loans                                                                                                                                                                          
|Repurchase Agreements                                                                                                                                                               
|Other                                                                                                                                                                               
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|Net Interest Income                                                                                                                                                                 
|                                                                                                                                                                                    
|Provision for Loan Losses                                                                                                                                                           
|                                                                                                                                                                                    
|Net Interest Income After Provision for Loan Losses                                                                                                                                 
|                                                                                                                                                                                    
|Noninterest Income                                                                                                                                                                  
|Service Charges on Deposits                                                                                                                                                         
|Other Service Charges, Commissions and Fees                                                                                                                                         
|Securities Gains (Losses)                                                                                                                                                           
|Mortgage Origination Fees                                                                                                                                                           
|Other                                                                                                                                                                               
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|Noninterest Expense                                                                                                                                                                 
|Salaries and Employee Benefits                                                                                                                                                      
|Occupancy and Equipment                                                                                                                                                             
|Office Supplies and Printing                                                                                                                                                        
|Other                                                                                                                                                                               
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|                                                                                                                                                                                    
|Income Before Income Taxes                                                                                                                                                          
|                                                                                                                                                                                    
|Income Taxes                                                                                                                                                                        
|                                                                                                                                                                                    
|Net Income                                                                                                                                                                          
|                                                                                                                                                                                    
|Basic Earnings Per Share                                                                                                                                                            
|                                                                                                                                                                                    
|Diluted Earnings Per Share                                                                                                                                                          
|                                                                                                                                                                                    
|Weighted Average Common Shares Outstanding                                                                                                                                          

The accompanying notes are an integral part of these condensed consolidated financial statements.

2

PART I, ITEM 1 (CONTINUED)

Financial Information



|SNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31
(UNAUDITED)
($ IN THOUSANDS)
|----------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                
|                                                                                                                                                                
|                                                                                                                                                                
|                                                                                                                                                                
|Net Income                                                                                                                                                      
|                                                                                                                                                                
|Other Comprehensive Income, Net of Income Tax                                                                                                                   
|Unrealized Holding Gains (Losses)                                                                                                                               
|                                                                                                                                                                
|Comprehensive Income                                                                                                                                            





The accompanying notes are an integral part of these condensed consolidated financial statements.





3

PART I, ITEM 1 (CONTINUED)

Financial Information



|SNB BANCSHARES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31
(UNAUDITED)
($ IN THOUSANDS)
|------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                      
|                                                                                                                                                      
|                                                                                                                                                      
|                                                                                                                                                      
|Cash Provided by Operations                                                                                                                           
|                                                                                                                                                      
|Cash Flows from Investing Activities                                                                                                                  
|Purchases of Securities Available for Sale                                                                                                            
|Sale of Securities Available for Sale                                                                                                                 
|Maturities of Securities Available for Sale                                                                                                           
|Maturities of Securities Held to Maturity                                                                                                             
|Net Loans Made to Customers                                                                                                                           
|Purchase of Premises and Equipment, Net                                                                                                               
|Proceeds from Sale of Other Real Estate                                                                                                               
|                                                                                                                                                      
|                                                                                                                                                      
|                                                                                                                                                      
|Cash Flows from Financing Activities                                                                                                                  
|Net Decrease in Noninterest-Bearing Deposits                                                                                                          
|Net Increase in Interest-Bearing Deposits                                                                                                             
|Repayment of Federal Funds Purchased                                                                                                                  
|Repayment of Demand Note to the U.S. Treasury                                                                                                         
|Proceeds From (Principal Payments on) Other Borrowed Money                                                                                            
|Dividends Paid                                                                                                                                        
|                                                                                                                                                      
|                                                                                                                                                      
|                                                                                                                                                      
|Net Decrease in Cash and Cash Equivalents                                                                                                             
|                                                                                                                                                      
|Cash and Cash Equivalents, Beginning                                                                                                                  
|                                                                                                                                                      
|Cash and Cash Equivalents, Ending                                                                                                                     

The accompanying notes are an integral part of these condensed consolidated financial statements.





4

PART I, ITEM 1 (CONTINUED)

Financial Information

SNB BANCSHARES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

(1) Basis of Presentation

The consolidated financial statements include SNB Bancshares, Inc. (the Company) and its wholly-owned subsidiaries, Security Bank of Bibb County (formerly Security National Bank), located in Macon, Georgia and Security Bank of
Houston County (formerly Crossroads Bank of Georgia), located in Perry, Georgia (the Banks). The financial statements of Security Bank of Bibb County include its wholly-owned subsidiary, Fairfield Financial Services, Inc. since its formation on August 1,
2000. All intercompany accounts have been eliminated in consolidation.

In June 1998, the Financial Accounting Standards Board ("FASB") issued SFAS No. 133, Accounting for Derivative Instruments and Hedging Activities. SFAS No. 133 is effective for financial statements for all fiscal quarters of all
fiscal years beginning after June 15, 1999. In June 1999, the FASB issued SFAS No. 137, Accounting for Derivative Instruments and Hedging Activities  Deferral of the Effective Date of FASB Statement No. 133, an amendment of FASB Statement No. 133. SFAS No. 133, as amended, is now effective for all fiscal quarters of all fiscal
years beginning after June 15, 2000. Management does not anticipate that the derivative statements will have a material effect, if any, on the financial position and results of operations of the Bank.

The financial information included herein is unaudited; however, such information reflects all adjustments which are, in the opinion of management, necessary to fairly state the financial position and results of operations for the
interim periods presented.

(2) Loans

Loans as of March 31, 2001 are comprised of the following:



|                                                           | ($ in Thousands)
|---------------------------------------------------------- | ----------------
|                                                           |                 
|Commercial                                                 | $ 40,840        
|Real Estate-Construction                                   | 76,734          
|Real Estate-Other                                          | 213,581         
|Installment Loans to Individuals for Personal Expenditures | 21,080          
|All Other                                                  | 2,315           
|                                                           |                 
|                                                           | 354,550         
|Allowance for Loan Losses                                  | (3,275)         
|Unearned Interest and Fees                                 | (195)           
|                                                           |                 
|                                                           | $351,080        









5

PART I, ITEM 1 (CONTINUED)

Financial Information

(2) Loans (Continued)

Loans are generally reported at principal amount less unearned interest and fees. Impaired loans are recorded under Statement of Financial Accounting Standards (SFAS) No. 114, Accounting by Creditors for Impairment of a Loan
and SFAS No. 118, Accounting by Creditors for Impairment of a Loan-Income Recognition and Disclosures. Impaired loans are loans for which principal and interest are unlikely to be collected in accordance with the original loan terms and, generally, represent loans
delinquent in excess of 90 days which have been placed on nonaccrual status and for which collateral values are less than outstanding principal and interest. Small balance, homogeneous loans are excluded from impaired loans. Generally, interest payments
received on impaired loans are applied to principal. Upon receipt of all loan principal, additional interest payments are recognized as interest income on the cash basis.

Other nonaccrual loans are loans for which payments of principal and interest are considered doubtful of collection under original terms but collateral values equal or exceed outstanding principal and interest.

(3) Earnings Per Share

Statement of Financial Accounting Standards No. 128 establishes standards for computing and presenting basic and diluted earnings per share. Basic earnings per share is calculated and presented based on income available to common
stockholders divided by the weighted average number of shares outstanding during the reporting periods. Diluted earnings per share reflects the potential dilution that would occur if warrants and options were exercised and converted into common stock. The
following presents earnings per share for the three months ended March 31, 2001 under the requirements of SFAS 128:

|                               |  | Three Months Ended
March 31, 2001
|------------------------------ |  | ---------------------------------
|                               |  |                                  
|Basic Earnings Per Share       |  |                                  
|Net Income Per Common Share    |  | $0.27                            
|Weighted Average Common Shares |  | 3,372,969                        
|                               |  |                                  
|Diluted Earnings Per Share     |  |                                  
|Net Income Per Common Share    |  | $0.27                            
|Weighted Average Common Shares |  | 3,374,338                        

The assumed exercise of stock options is included in the diluted earnings per share computation using the treasury stock method and assuming an average market price for SNB Bancshares, Inc. stock of $14.3015 for
the three-month period. SNB's stock is quoted on the NASDAQ market under the symbol SNBJ.













6

PART I, ITEM 1 (CONTINUED)

Financial Information

(4) Allowance for Loan Losses

The allowance method is used in providing for losses on loans. Accordingly, all loan losses decrease the allowance and all recoveries increase it. The provision for loan losses is based on factors which, in management's judgment,
deserve current recognition in estimating possible loan losses. Such factors considered by management include growth and composition of the loan portfolio, economic conditions and the relationship of the allowance for loan losses to outstanding loans.

An allowance for loan losses is maintained for all impaired loans. Provisions are made for impaired loans upon changes in expected future cash flows or estimated net realizable value of collateral. When determination is made that
impaired loans are wholly or partially uncollectible, the uncollectible portion is charged off.

The following table presents the Company



|                                          | ($ in Thousands)
|----------------------------------------- | ----------------
|                                          |                 
|                                          | 2001            
|                                          |                 
|Allowance for Loan Losses, January 1      | $3,003          
|                                          |                 
|Charge-Offs                               |                 
|Commercial, Financial and Agricultural    | 91              
|Real Estate - Mortgage                    | -               
|Consumer                                  | 85              
|                                          |                 
|                                          | 176             
|                                          |                 
|Recoveries                                |                 
|Commercial, Financial and Agricultural    | -               
|Real Estate - Mortgage                    | -               
|Consumer                                  | 18              
|                                          |                 
|                                          | 18              
|                                          |                 
|Net Charge-Offs                           | (158)           
|                                          |                 
|Provision for Loan Losses                 | 429             
|                                          |                 
|Allowance for Loan Losses, March 31       | $3,274          
|                                          |                 
|Ratio of Net Charge-Offs to Average Loans | (0.05)%         









7

PART I, ITEM 1 (CONTINUED)

Financial Information

(5) Investment Securities

The Bank records investment securities under Statement of Financial Accounting Standards (SFAS) No. 115, Accounting for Certain Investments in Debt and Equity Securities. In accordance with the provisions of SFAS 115, the
Bank elected to classify securities individually as either available for sale or held to maturity. Securities classified as held to maturity are recorded at amortized cost. Those classified as available for sale are adjusted to market value through a
tax-effected increase or reduction in stockholders' equity.

Investment securities as of March 31, 2001 are summarized as follows:



|Securities Available for Sale | Amortized
Cost   |  | Gross
Unrealized
Gains |  | Gross
Unrealized
Losses |  | Fair
Value
|----------------------------- | ---------------- |  | ---------------------- |  | ----------------------- |  | ----------
|                              | ($ in Thousands)
|                              |                  |  |                        |  |                         |  |           
|U.S. Treasuries               | $ 1,773          |  | $ 58                   |  |                         |  | $ 1,831   
|U.S. Government Agencies      |                  |  |                        |  |                         |  |           
|Mortgage Backed               | 16,855           |  | 136                    |  | $(10)                   |  | 16,981    
|Other                         | 14,084           |  | 454                    |  |                         |  | 14,538    
|State, County and Municipal   | 5,838            |  | 175                    |  | (4)                     |  | 6,009     
|Other                         | 3,880            |  | 2                      |  |                         |  | 3,882     
|                              |                  |  |                        |  |                         |  |           
|                              | $42,430          |  | $825                   |  | $(14)                   |  | $43,241   
|Securities Held to Maturity   |                  |  |                        |  |                         |  |           
|                              |                  |  |                        |  |                         |  |           
|State, County and Municipal   | $ 1,984          |  | $ 76                   |  | $ -                     |  | $ 2,060   

Unrealized holding gains, net of tax, on securities available for sale in the amount of $533,000 have been charged to stockholders' equity as of March 31, 2001.

(6) Other Borrowed Money

Other borrowed money is comprised of the following as of March 31, 2001:



|                                                                                                                                                                                                                                                                                                                                                                                       |  | ($ in Thousands)
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------
|Advances from the Federal Home Loan Bank (FHLB) with Maturities in Varying Amounts Through March 23, 2011 and Interest Rates Ranging from 4.45 Percent to 5.88 Percent. Under the Blanket Agreement for Advances and
Security Agreement with the FHLB, Residential First Mortgage Loans and Certain Investment Securities Are Pledged as Collateral for the FHLB Advances Outstanding. |  | $50,105         
|                                                                                                                                                                                                                                                                                                                                                                                       |  |                 
|$10,000,000 Line-of-Credit with The Bankers Bank, Maturing on December 31, 2010. Interest Payable Quarterly at Prime Minus 50 Basis Points. Secured by All Stock Owned by SNB Bancshares, Inc. in Security Bank of
Bibb County.                                                                                                                                                        |  | 4,000           
|                                                                                                                                                                                                                                                                                                                                                                                       |  |                 
|Securities Sold Under Agreement to Repurchase                                                                                                                                                                                                                                                                                                                                          |  | 5,335           
|                                                                                                                                                                                                                                                                                                                                                                                       |  |                 
|Obligations Under Capital Lease                                                                                                                                                                                                                                                                                                                                                        |  | 59              
|                                                                                                                                                                                                                                                                                                                                                                                       |  |                 
|Total Other Borrowed Money                                                                                                                                                                                                                                                                                                                                                             |  | $59,499         

8

PART I, ITEM 1 (CONTINUED)

Financial Information

(6) Other Borrowed Money (Continued)

Maturities of line-of-credit and all FHLB advances for each of the ensuing years are as follows:



|Year       |  | Amount 
|---------- |  | -------
|           |  |        
|2001       |  | $32,105
|2002       |  | 5,000  
|2003       |  | 3,750  
|2004       |  | 800    
|Thereafter |  | 12,450 
|           |  |        
|Total      |  | $54,105

(7) Stockholders

During 1996, the board of directors of SNB Bancshares, Inc. adopted the 1996 incentive stock option plan which granted key officers the right to purchase 62,500 shares of common stock at the price of $9.00, as adjusted for stock
splits, representing the market value of the stock at the date of the option grant. Option holders may exercise in accordance with a vesting schedule beginning with 20 percent the first year and increasing 20 percent for each year thereafter such that 100
percent of granted options may be exercised by the end of the fifth year. Unexercised options expire at the end of the tenth year.

In 2000, the board of directors of SNB Bancshares, Inc. adopted an additional incentive stock option plan which authorized the granting to certain officers and key employees rights to purchase 125,000 shares of common stock at a price
representing the market value of the stock at the date of the option grant. In May 2000, 73,500 options were granted at the price of $18.50 per share and 10,000 options were granted at $17.94 per share in September 2000. An additional 25,500 options were
granted at $13.00 per share in August 2000 under this same plan. The terms of the 2000 incentive stock option plan are essentially the same as the 1996 incentive stock option plan.

A summary of option transactions for the three months ended March 31, 2001 follows:

|                                         |  | Incentive Stock Options
|---------------------------------------- |  | -----------------------
|                                         |  |                        
|Granted                                  |  | 171,500                
|Canceled                                 |  | -                      
|Exercised                                |  | -                      
|                                         |  |                        
|Outstanding, March 31, 2001              |  | 171,500                
|                                         |  |                        
|Eligible to be Exercised, March 31, 2001 |  | 101,000                

The Company is required to maintain minimum amounts of capital to total



9

PART I, ITEM 1 (CONTINUED)

Financial Information

(7) Stockholders

|                     | Actual |  | Minimum
|-------------------- | ------ |  | -------
|                     |        |  |        
|Tier 1 Capital Ratio | 9.33%  |  | 4.00%  
|Total Capital Ratio  | 10.30% |  | 8.00%  
|Leverage Ratio       | 7.76%  |  | 4.00%  



(8) Noncash Financing Activities

Noncash investing activities for the three months ended March 31 are as follows:



|                                                    | 2001 |  | 2000    
|--------------------------------------------------- | ---- |  | --------
|                                                    |      |  |         
|Acquisition of Real Estate through Loan Foreclosure | $ -  |  | $224,000



(9) Other Comprehensive Income

For the three months ended March 31, 2001, other comprehensive income is comprised of the following:

|                              |  | Before Tax       |  | Tax Effect |  | Net of Tax
|----------------------------- |  | ---------------- |  | ---------- |  | ----------
|                              |  | ($ in Thousands)
|Unrealized Gain on Securities |  |                  |  |            |  |           
|Gain Arising During Year      |  | $511             |  | $173       |  | $338      
|Reclassification Adjustment   |  | (1)              |  | -          |  | (1)       
|                              |  |                  |  |            |  |           
|Net Unrealized Gain           |  | $510             |  | $173       |  | $337      



(10) Acquisition of Assets

On July 31, 2000, Security Bank of Bibb County purchased the assets of Group Financial Southeast (dba Fairfield Financial) in a business combination accounted for as a purchase. The assets were placed in a newly formed subsidiary
of Security Bank of Bibb County incorporated as Fairfield Financial Services, Inc. Fairfield Financial is primarily engaged in residential real estate mortgage lending in the state of Georgia. The results of operations of Fairfield Financial are included
in the accompanying financial statements since the date of acquisition. The initial purchase price approximated $1.4 million, which consists of approximately $1.0 millionin cash and 32,345 shares of SNB Bancshares stock valued at $388,140 at closing. The initial cost of the acquisition exceeded the fair value of the assets of Fairfield Financial by $988,000. The excess is recorded as goodwill and is being
amortized on the straight-line method over 10 years.



10

PART I, ITEM 1 (CONTINUED)

Financial Information

(10) Acquisition of Assets (Continued)

The Asset Purchase Agreement provides for additional contingent payments of purchase price for years ended 2001-2005 based on the earnings of Fairfield Financial Services, Inc. The additional payments, if any, areto be
payable in cash and stock. Cash payments for 2001 will equate to 60 percent of Fairfield Financial Services, Inc.'s earnings for the year. Stock payments for 2001 will be based on 40 percent of 2001 earnings utilizing a specific formula for determining
number of shares. The number of shares issued during any year cannot exceed 75,000. The maximum number of shares under the agreement cannot exceed 300,000 for years 2001-2005. All additional payments of cash and stock will be charged to goodwill and
amortized over the remaining years of the original 10-year amortization period. If Fairfield Financial sustains losses, no additional purchase price payments are due.







11

PART I, ITEM 2

Financial Information



SNB BANCSHARES, INC. AND SUBSIDIARIES

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

CONDITION AND RESULTS OF OPERATIONS

The following narrative presents management's discussion and analysis of SNB Bancshares, Inc. and Subsidiaries (SNB's) financial condition and results of operations as of and for the three-month periods ended March 31, 2001 and
2000. The historical financial statements of SNB are set forth elsewhere herein. This discussion should be read in conjunction with those financial statements and the other financial information included in this report. SNB owns and operates Security Bank
of Bibb County (Bibb) and Security Bank of Houston County (Houston). Security Bank of Bibb County owns and operates Fairfied Financial Services, Inc. (Fairfield). Fairfield was incorporated with acquired assets and began operation on August 1, 2000. SNB
and its wholly-owned subsidiaries are collectively known as Athe Company.@



Overview

The Company

The Company recorded an annualized return on average assets 0.90 percent for the three-month period ended March 31, 2001 compared to 1.16 percent for the same period in 2000. Return on average equity of 11.46 percent was recorded for
the three-month period ended March 31, 2001, compared to 11.62 percent for the same period in 2000.

At March 31, 2001, the Company had total assets of $432 million compared to $410 million at December 31, 2000. Management, again, attributes the majority of this increase to the above average growth of the Company

Financial Condition

Cash and Cash Equivalents

Cash and due from banks decreased approximately $6.1 million or 26.25 percent to $17.1 million at March 31, 2001 from $23.1 million at December 31, 2000. Federal funds sold decreased by $1.2 million or 28.39 percent to $3.2
million at March 31, 2001 from $4.4 million at December 31, 2000. The uses of these decreases are most evident in the analysis of the Company







12

PART I, ITEM 2 (CONTINUED)

Financial Information

Financial Condition (Continued)

Investment Securities

Investment securities have decreased $6.3 million or 12.18 percent since December 31, 2000 when investment securities totaled $51.5 million. As of March 31, 2001, investment securities were $45.2 million. While continuing to
strategically manage the Company

Loans Receivable, Net

Aggregate loans receivable were $330.1 million at March 31, 2001, an increase of $27.8 million or 9.26 percent from $302.3 million at December 31, 2000. As a result of the purchase of Group Financial Southeast (Fairfield
Financial), a residential real estate mortgage company based in Macon, Georgia, the Company has experienced above average growth in the loan portfolio. The majority of new loans being funded are construction and other real estate loans. Real estate
construction loans have increased 23.11 percent from $62.3 million as of December 31, 2000 to $76.7 million as of March 31, 2001. Other real estate secured loans have increased as well, from $189.7 million as of December 31, 2000 to $213.6 million as of
March 31, 2001, an increase of 12.60 percent. As of March 31, 2001, real estate secured loans comprised 81.9 percent of the Company

Nonperforming Assets

The Company









13

PART I, ITEM 2 (CONTINUED)

Financial Information

Financial Condition (Continued)

Nonperforming Assets (Continued)

The following table presents the Company



|                                                           |  | ($ in
Thousands)
|---------------------------------------------------------- |  | ----------------
|                                                           |  |                 
|Impaired and Other Nonaccrual Loans                        |  | $2,435          
|Loans Past Due 90 Days or More and Still Accruing Interest |  | 381             
|Restructured Loans not Included in the Above               |  | -               
|                                                           |  |                 
|Total Nonperforming Loans                                  |  | 2,816           
|                                                           |  |                 
|Other Real Estate Owned                                    |  | 202             
|                                                           |  |                 
|Total Nonperforming Assets                                 |  | $3,018          

Deposits

Deposits increased $23.9 million or 7.69 percent from $311.6 million at December 31, 2000 to $335.5 million at March 31, 2001. Interest-bearing deposits increased $27.5 million or 10.92 percent over the same time period. The
majority of this deposit is considered to be a direct result of the Fairfield Financial acquisition.

Other Borrowed Money

Other borrowed money amounted to $59.5 million as of March 31, 2001, a decrease of 5.74 percent since December 31, 2000 when other borrowed money totaled $63.1 million. Borrowings from the Federal Home Loan Bank (FHLB) amounted
to $54.1 million or 90.93 percent of total other borrowed money as of March 31, 2001. Management utilized the majority of these borrowings to fund the additional loan requests.

Equity

At March 31, 2001, total equity was $32.1 million or 7.42 percent of total assets compared to $31.1 million or 7.57 percent of total assets as of December 31, 2000. Total equity increased primarily due to the retention of net
income during the period, net of dividends paid. However, the growth in equity was outpaced by the growth in assets during this period, resulting in a decrease in equity ratios.











14

PART I, ITEM 2 (CONTINUED)

Financial Information

Results of Operations

Net Income

The Company's net income increased 11.14 percent to $898,000 for the three months ended March 31, 2001, compared to $808,000 recorded in the
comparable prior period. The increase in net income is primarily a result of the acquisition of Fairfield Financial which has generated above average loan growth for the Company. Fairfield also benefited from the surge in home refinancing resulting from
recent drops in interest rates.

Net Interest Income

The net interest margin of the Company, net interest income divided by average earning assets, was 3.99 percent for the first three months of 2001 compared to 5.07 for the first three months of 2000. The decrease in the net
interest margin resulted primarily from the increase in interest paid on deposits and increase in the average balances in borrowings.

Total interest income increased to $8.4 million for the three-month period ended March 31, 2001 from $5.6 million during the comparable prior year period. Again, the increase is largely due to an increase in loans of 65.13 percent as
of March 31, 2001 compared to March 31, 2000.

Total interest expense increased 88.46 percent for the three months ended March 31, 2001 compared to the prior period ended March 31, 2000. This increase was primarily the result of additional borrowings needed to fund loan growth
along with an increase in deposits during the period.















































15

PART I, ITEM 2 (CONTINUED)

Financial Information

Results of Operations (Continued)

The following table presents the effective yields and costs of funds for the three-month periods ended March 31:

Average Balance Sheets

|                                   |  | Average Balance
Three Months Ended
March 31 |  | Rate/Yield
Three Months Ended
March 31
|---------------------------------- |  | ------------------------------------------- |  | --------------------------------------
|                                   |  | 2001                                        |  | 2000                                  
|                                   |  | ($ in Thousands)                            |  |                                       
|Interest-Earning Assets            |  |                                             |  |                                       
|Loans                              |  | $327,471                                    |  | $209,667                              
|Securities                         |  | 45,016                                      |  | 40,026                                
|Federal Funds Sold                 |  | 6,179                                       |  | 6,699                                 
|Interest-Bearing Due From Banks    |  | 1,668                                       |  | 462                                   
|                                   |  |                                             |  |                                       
|Total Interest-Earning Assets      |  | $380,334                                    |  | $256,854                              
|                                   |  |                                             |  |                                       
|Interest-Bearing Liabilities       |  |                                             |  |                                       
|Deposits                           |  | $268,114                                    |  | $193,264                              
|Borrowings                         |  | 51,298                                      |  | 13,396                                
|                                   |  |                                             |  |                                       
|Total Interest-Bearing Liabilities |  | $319,412                                    |  | $206,660                              
|                                   |  |                                             |  |                                       
|Interest Rate Spread               |  |                                             |  |                                       
|                                   |  |                                             |  |                                       
|Net Interest Margin                |  |                                             |  |                                       

The following table provides a detailed analysis of the changes in interest income and interest expense due to changes in rate and volume for the three months ended March 31, 2001 compared to the three months
ended March 31, 2000.



























16

PART I, ITEM 2 (CONTINUED)

Financial Information

Results of Operations (Continued)

|Rate/Volume Analysis            |  | Changes From 2000 to 2001 (1)
|------------------------------- |  | -----------------------------
|                                |  | Volume                       
|                                |  | ($ in Thousands)             
|Interest Income                 |  |                              
|Loans                           |  | $11,050                      
|Securities                      |  | 332                          
|Federal Funds Sold              |  | (33)                         
|Interest-Bearing Due From Banks |  | -                            
|                                |  |                              
|Total Interest Income           |  | 11,349                       
|                                |  |                              
|Interest Expense                |  |                              
|Deposits                        |  | 3,488                        
|Borrowings                      |  | 2,108                        
|                                |  |                              
|Total Interest Expense          |  | 5,596                        
|                                |  |                              
|Net Interest Income             |  | $ 5,753                      



(1)	Changes in net interest income for the periods, based on either changes in average balances or changes in average rates for interest-earning assets and interest-bearing liabilities, are shown on this table. During each year
there are numerous and simultaneous balance and rate changes; therefore, it is not possible to precisely allocate the changes between balances and rates. For the purpose of this table, changes that are not exclusively due to balance changes or rate
changes have been attributed to rates.

Provision for Loan Losses

The Company establishes a provision for loan losses, which is charged to operations, in order to maintain the allowance for loan losses at a level which is deemed to be appropriate by management. The amount of this provision is
based upon an assessment of prior loss experience, the volume and type of lending presently being conducted by the Company, industry standards, past due loans, economic conditions of the Company

Although management utilizes its best judgment in providing for inherent losses, there can be no assurance that the Company will not have to increase its provisions for loan losses in the future as a result of future increases in
nonperforming loans or for other reasons which could adversely affect the Company

17

PART I, ITEM 2 (CONTINUED)

Financial Information

Results of Operations (Continued)

Noninterest Income and Expense

Noninterest income for the three months ended March 31, 2001 totaled $2.5 million compared to $698,000 for the comparable prior period. Mortgage origination fees for the three months ended March 31, 2001 totaled $1.7 million
compared to $92,000 for the comparable prior period. This increase was a direct result of the acquisition of Fairfield Financial.

Noninterest expenses increased $2.1 million or 86.25 percent for the first quarter of 2001 over the same period in 2000. Salaries and employee benefits and other expenses increased due to the acquisition of Fairfield during the third
quarter of 2000.

Income Taxes

Income tax expense totaled $518,000 for the three-month period ended March 31, 2001, compared to $435,000 for the comparable prior period. These amounts resulted in the effective tax rates of 34 percent for 2001 and 2000.

Liquidity and Capital Adequacy

Stockholders

The Federal Reserve Board measures capital adequacy for bank holding companies by using a risk-based capital frame-work and by monitoring compliance with minimum leverage ratio guidelines. The minimum ratio of total risk-based capital
to risk-adjusted assets is 8 percent at March 31, 2001, of which 4 percent must be Tier 1 capital. The Company

In addition, the Federal Reserve Board has established minimum leverage ratio guidelines for bank holding companies. Those guidelines provide for a minimum leverage ratio of 3 percent for financial institutions that meet certain
criteria, including that they maintain the highest regulatory rating. All other financial institutions are required to maintain a leverage ratio of 4 percent. The Company





















18

PART I, ITEM 2 (CONTINUED)

Financial Information

Results of Operations (Continued)

Liquidity and Capital Adequacy (Continued)

The Federal Deposit Insurance Corporation Improvement Act (FDICIA) establishes minimum capital requirements for all depository institutions and established five capital tiers:

At March 31, 2001, both of the Company

Market Risk and Interest Rate Risk

Market risk is the risk of loss from adverse changes in market prices and rates. The Company

Forward Looking Statements

Within these financial statements we have included certain

ITEM 3

Quantitative and Qualitative Disclosures About Market Risk

Not Applicable.











19

PART II

Other Information

SNB BANCSHARES, INC. AND SUBSIDIARIES

ITEM 1

Legal Proceedings

Not Applicable.

ITEM 2

Changes in Securities (Limitations Upon Payment of Dividends)

The information required for limitations upon payment of dividends is incorporated herein by reference to the Company's annual report of 10-KSB, Exhibit 99(a) footnote 23, filed with the Securities and Exchange Commission for the
year ended December 31, 2000 (File No. 000-23261).

ITEM 3

Defaults Upon Senior Securities

Not Applicable.

ITEM 4

Submission of Matters to a Vote of Security Holders

There were no matters submitted to a vote of securities holders during the quarter ended March 31, 2001.

ITEM 5

Other Information

Not Applicable.





























20

PART II

Other Information

ITEM 6

Exhibits and Reports on Form 8-K



|    |  |                                                                                                                                                                                                      |  | Page      
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------
|    |  |                                                                                                                                                                                                      |  |           
|(a) |  | Exhibits Included Herein and Incorporated by Reference:                                                                                                                                              |  |           
|    |  |                                                                                                                                                                                                      |  |           
|    |  | 3(a) -Articles of Incorporation-Filed as Exhibit 3.2 to the Registrant's Registration Statement on
Form S-4 (File No. 333-49977) Filed with the Commission on
April 13, 1999 and Incorporated Herein |  | N/A       
|    |  |                                                                                                                                                                                                      |  |           
|    |  | 3(b)	-Bylaws-Filed as Exhibit 3.2 to the Registrant's Registration Statement on Form S-4 (File No. 333-49977), Filed with the Commission on
April 13, 1999 and Incorporated Herein                   |  | N/A       
|    |  |                                                                                                                                                                                                      |  |           
|    |  | 11	-Statement Re Computation of Per Share Earnings                                                                                                                                                   |  | Attachment
|    |  |                                                                                                                                                                                                      |  |           
|    |  | 27	-Financial Data Schedule                                                                                                                                                                          |  | Attachment
|    |  |                                                                                                                                                                                                      |  |           
|(b) |  | Reports on Form 8-K                                                                                                                                                                                  |  |           
|    |  |                                                                                                                                                                                                      |  |           
|    |  | No reports on Form 8-K have been filed by the registrant during the quarter ended March 31, 2001.                                                                                                   







































21

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, SNB Bancshares, Inc. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized:



SNB BANCSHARES, INC.





|______________________________________________
H. Averett Walker
President/Chief Executive Officer                       
|-------------------------------------------------------------------------------------------------------------------------
|                                                                                                                         
|Date:__________________________________________                                                                          
|                                                                                                                         
|                                                                                                                         
|                                                                                                                         
|                                                                                                                         
|______________________________________________Michael T. O'Dillon
Senior Vice-President/Treasurer/Chief Financial Officer
|                                                                                                                         
|Date:__________________________________________                                                                          













































22



EXHIBIT NO. 11



STATEMENT OF COMPUTATION OF EARNINGS PER SHARE



|                                          |  | Three Months Ended
March 31, 2001 |  | Three Months Ended
March 31, 2000
|----------------------------------------- |  | --------------------------------- |  | ---------------------------------
|                                          |  | Shares                            |  | Earnings
Per Share               
|                                          |  | (in Thousands)                    |  | (in Thousands)                   
|                                          |  |                                   |  |                                  
|Basic Weighted Average
Shares Outstanding |  | 3,373                             |  | $0.27                            
|                                          |  |                                   |  |                                  
|Diluted                                   |  |                                   |  |                                  
|Average Shares Outstanding                |  | 3,373                             |  |                                  
|Common Stock Equivalents                  |  | 1                                 |  |                                  
|                                          |  |                                   |  |                                  
|                                          |  | 3,374                             |  | $0.27                            
|                                          |  |                                   |  |                                  
|                                          |  |                                   |  |