----

| x | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|---------------------------------------------------------------------------------------------------|

|   | For      the quarterly period ended September 30,2008 |
|--------|-------------------------------------------------------|

|   | OR |
|--------|----|

| o | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|----------------------------------------------------------------------------------------------------|

|   | For      the transition period from _____ to_____ |
|--------|---------------------------------------------------|

| Florida                                                             |   | 35-2164765                                |
|---------------------------------------------------------------------|--------|-------------------------------------------|
| (State      or other jurisdiction of Incorporation or organization) |   | (I.R.S.      Employer Identification No.) |
|                                                                |   |                                      |
| 1400      North 15th      Street, Immokalee, Florida                |   | 34142-2202                                |
| (Address      of principal executive offices)                       |   | (Including      zip code)                 |

|   | (239)  657-3171                             |   |
|--------|-------------------------------------------------------|--------|
|   | (Issuer's      Telephone Number, Including Area Code) |   |

| No Change                                                                                    |
|----------------------------------------------------------------------------------------------|
| (Former      name, former address and former fiscal year, if changed since last      report) |

| Yes        x | No        o |
|------------------------|-----------------------------------------------------|

| Large accelerated      filer o | Accelerated filer       x | Non-accelerated filer o |
|-------------------------------------|--------------------------------|------------------------------|

|   | Indicate      by check mark whether the registrant is a shell company (as defined in      Rule 12b of the Exchange Act). |
|--------|--------------------------------------------------------------------------------------------------------------------------|

| Yes       o | No        x |
|------------------|-----------------------------------------------------|

| Common      Stock, $0.01 par |   | Outstanding      at November 9, 2008: 7,918,217 |
|------------------------------|--------|-------------------------------------------------|

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Page No. |                 |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------|----------------------|
| Part      I - Financial Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |     |                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |
| Item 1      -                    Consolidated      Financial Statements (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |     |                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |
| Consolidated Statements of      Financial Condition as of September 30, 2008and December 31,      2007                                                                                                                                                                                         |   |     | 3                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Consolidated Statements of      Income for the Three Months and Nine MonthsEnded September 30, 2008 and      2007                                                                                                                                                                              |   |     | 4                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Consolidated Statement of      Shareholders' Equity for the Nine MonthsEnded September 30,      2008                                                                                                                                                                                           |   |     | 5                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Consolidated Statements of Cash      Flows for the Nine MonthsEnded September 30, 2008 and      2007                                                                                                                                                                                           |   |     | 6                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Notes to Consolidated Financial      Statements                                                                                                                                                                                                                                 |   |     | 7                    |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 2 - Management's      Discussion and Analysis ofFinancial Condition and Results      of      Operations                                                                                                                                                               |   |     | 16                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 3 - Quantitative and      Qualitative Disclosures about Market      Risk                                                                                                                             |   |     | 20                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 4 - Controls and      Procedures                                                                                                                                                                     |   |     | 20                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Part      II - Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |     |                 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 1 - Legal      Proceedings                                                                                                                                                                           |   |     | 21                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 1A - Risk      Factors                                                                                                                                                                               |   |     | 21                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 5 - Other      Information                                                                                                                                                                           |   |     | 21                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Item 6 -      Exhibits                                                                                                                                                                                    |   |     | 22                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     |                 |   |
| Signatures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |     |        23  |   |

----

|                                                                                                                                                                                     |   |           September 30,          2008           (Unaudited) |        December      31,  2007 |   |    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------|--------|--------------|
| Assets                                                                                                                                                                                   |   |                                                                                                                         |                                          |   |         |
| Cash      and due from banks                                                                                                                                                             |   | $                                                                                                                            | 7,273,762                                     |   |         | $ | 10,526,924 |   |
| Interest-bearing      demand deposits with banks                                                                                                                                         |   |                                                                                                                         | 1,964,483                                     |   |         |   | 1,868,391 |   |
| Federal      funds sold                                                                                                                                                                  |   |                                                                                                                         | 104,000                                       |   |         |   | 2,334,000 |   |
| Cash and Cash      Equivalents                                                                                                                                                           |   |                                                                                                                         | 9,342,245                                     |   |         |   | 14,729,315 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Securities      held-to-maturity, fair value of $207,588,909 in 2008 and $136,499,998 in      2007                                                                                       |   |                                                                                                                         | 207,337,088                                   |   |         |   | 135,810,057 |   |
| Other      investments-securities                                                                                                                                                        |   |                                                                                                                         | 7,104,601                                     |   |         |   | 5,599,965 |   |
| Other      investments-partnerships                                                                                                                                                      |   |                                                                                                                         | 1,219,950                                     |   |         |   | 1,215,875 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Loans,      net of unearned income                                                                                                                                                       |   |                                                                                                                         | 655,800,651                                   |   |         |   | 761,430,961 |   |
| Allowance      for loan losses                                                                                                                                                           |   |                                                                                                                         | (39,606,567                                   | )      |         |   | (18,309,279 | ) |
| Net Loans                                                                                                                                                                                |   |                                                                                                                         | 616,194,084                                   |   |         |   | 743,121,682 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Premises      and equipment, net                                                                                                                                                         |   |                                                                                                                         | 24,882,880                                    |   |         |   | 21,095,408 |   |
| Accrued      interest                                                                                                                                                                    |   |                                                                                                                         | 4,375,646                                     |   |         |   | 4,585,201 |   |
| Foreclosed      real estate                                                                                                                                                              |   |                                                                                                                         | 54,299,512                                    |   |         |   | 1,065,289 |   |
| Deferred      taxes, net                                                                                                                                                                 |   |                                                                                                                         | 24,189,912                                    |   |         |   | 13,671,041 |   |
| Income      tax receivable                                                                                                                                                               |   |                                                                                                                         | 12,520,235                                    |   |         |   | 218,872 |   |
| Other      assets                                                                                                                                                                        |   |                                                                                                                         | 2,334,256                                     |   |         |   | 1,561,057 |   |
| Total Assets                                                                                                                                                                             |   | $                                                                                                                            | 963,800,409                                   |   |         | $ | 942,673,762 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Liabilities      and Shareholders’ Equity                                                                                                                                          |   |                                                                                                                         |                                          |   |         |   |   |   |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Liabilities                                                                                                                                                                              |   |                                                                                                                         |                                          |   |         |   |   |   |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Deposits                                                                                                                                                                                 |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Noninterest-bearing                                                                                                                                                                      |   | $                                                                                                                            | 59,145,287                                    |   |         | $ | 72,635,074 |   |
| Interest-bearing                                                                                                                                                                         |   |                                                                                                                         | 742,524,073                                   |   |         |   | 681,023,280 |   |
| Total Deposits                                                                                                                                                                           |   |                                                                                                                         | 801,669,360                                   |   |         |   | 753,658,354 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Short-term      borrowings                                                                                                                                                               |   |                                                                                                                         | 1,189,000                                     |   |         |   | — |   |
| Accrued      interest                                                                                                                                                                    |   |                                                                                                                         | 3,226,613                                     |   |         |   | 3,509,061 |   |
| Deferred      compensation                                                                                                                                                               |   |                                                                                                                         | 176,958                                       |   |         |   | 208,358 |   |
| FHLB      advances                                                                                                                                                                       |   |                                                                                                                         | 50,000,000                                    |   |         |   | 55,000,000 |   |
| Subordinated      debentures                                                                                                                                                             |   |                                                                                                                         | 30,929,000                                    |   |         |   | 30,929,000 |   |
| Other      liabilities                                                                                                                                                                   |   |                                                                                                                         | 2,987,319                                     |   |         |   | 1,163,952 |   |
| Total    Liabilities                                                                                                                                                                     |   |                                                                                                                         | 890,178,250                                   |   |         |   | 844,468,725 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Shareholders’      Equity                                                                                                                                                          |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Preferred      stock - par value $0.01 per share, 5,000,000 shares authorized, none      issued and outstanding at September 30, 2008 and December 31,      2007                         |   |                                                                                                                         |   —                                |   |         |   |   — |   |
| Common      stock - par value $0.01 per share, 25,000,000 shares authorized, 7,918,217      and 7,909,664 shares issued and outstanding at September 30, 2008 and      December 31, 2007 |   |                                                                                                                         |   79,182                                 |   |         |   |   79,093 |   |
| Paid-in      capital                                                                                                                                                                     |   |                                                                                                                         | 18,524,974                                    |   |         |   | 18,456,882 |   |
| Retained      earnings                                                                                                                                                                   |   |                                                                                                                         | 55,018,003                                    |   |         |   | 79,669,062 |   |
| Total Shareholders’      Equity                                                                                                                                                    |   |                                                                                                                         | 73,622,159                                    |   |         |   | 98,205,037 |   |
|                                                                                                                                                                                     |   |                                                                                                                         |                                          |   |         |   |   |   |   |
| Total Liabilities and      Shareholders’ Equity                                                                                                                                    |   | $                                                                                                                            | 963,800,409                                   |   |         | $ | 942,673,762 |   |

----

|                                                                         |   |                Three Months                                |        |   |              Nine Months                                             |   |
|------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|-------------|--------|---------------------------------------------------------------------------------------------------------|--------|
|                                                                         |   |                    Ended September 30, |        |   |                    Ended September 30, |   |
|                                                                         |   | 2008                                                                                                    |        |   | 2007                                                                                                    |   |   | 2008 |   |   | 2007 |   |
| Interest      Income                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |
| Interest and fees on      loans                                              |   | $                                                                                                       | 9,755,353   |   |                                                                                                    | $      | 17,815,768 |   |   | $ | 32,991,324 |   |   | $ | 55,840,058 |   |
| Interest and dividends on      taxable   securitiessecurities |   |                                                                                                    | 2,452,334   |   |                                                                                                    |   | 1,385,261 |   |   |   | 5,630,456 |   |   |   | 3,580,787 |   |
| Interest on tax-exempt      securities                                       |   |                                                                                                    | 208,894     |   |                                                                                                    |   | 206,823 |   |   |   | 626,541 |   |   |   | 605,014 |   |
| Interest on federal funds      soldand other interest      income            |   |                                                                                                    | 98,317      |   |                                                                                                    |   | 205,033 |   |   |   | 233,150 |   |   |   | 588,688 |   |
| Total Interest    Income                                                     |   |                                                                                                    | 12,514,898  |   |                                                                                                    |   | 19,612,885 |   |   |   | 39,481,471 |   |   |   | 60,614,547 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Interest      Expense                                                        |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Interest on    deposits                                                      |   |                                                                                                    | 7,313,039   |   |                                                                                                    |   | 8,714,215 |   |   |   | 21,188,483 |   |   |   | 25,482,911 |   |
| Interest on borrowed      funds                                              |   |                                                                                                    | 909,014     |   |                                                                                                    |   | 1,151,589 |   |   |   | 3,018,425 |   |   |   | 3,627,834 |   |
| Total Interest      Expense                                                  |   |                                                                                                    | 8,222,053   |   |                                                                                                    |   | 9,865,804 |   |   |   | 24,206,908 |   |   |   | 29,110,745 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Net      Interest Income                                                     |   |                                                                                                    | 4,292,845   |   |                                                                                                    |   | 9,747,081 |   |   |   | 15,274,563 |   |   |   | 31,503,802 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Provision      for loan losses                                               |   |                                                                                                    | 29,290,400  |   |                                                                                                    |   | 550,000 |   |   |   | 39,802,400 |   |   |   | 849,100 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Net      Interest Income (Loss) AfterProvision for Loan      Losses          |   |                                                                                                    | (24,997,555 | )      |                                                                                                    |   | 9,197,081 |   |   |   | (24,527,837 | ) |   |   | 30,654,702 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest      Income                                                      |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Customer service    fees                                                     |   |                                                                                                    | 411,141     |   |                                                                                                    |   | 365,962 |   |   |   | 1,140,200 |   |   |   | 1,066,127 |   |
| Secondary market loan      fees                                              |   |                                                                                                    | 41,729      |   |                                                                                                    |   | 85,304 |   |   |   | 112,989 |   |   |   | 334,148 |   |
| Gain on sale of other real      estate                                       |   |                                                                                                    | 8,056       |   |                                                                                                    |   | — |   |   |   | 62,552 |   |   |   | 404,921 |   |
| Other operating    income                                                    |   |                                                                                                    | 44,989      |   |                                                                                                    |   | 128,178 |   |   |   | 398,704 |   |   |   | 411,667 |   |
| Total Noninterest      Income                                                |   |                                                                                                    | 505,915     |   |                                                                                                    |   | 579,444 |   |   |   | 1,714,445 |   |   |   | 2,216,863 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest      Expenses                                                    |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Salaries and employee      benefits                                          |   |                                                                                                    | 2,739,474   |   |                                                                                                    |   | 2,680,307 |   |   |   | 8,253,267 |   |   |   | 8,089,199 |   |
| Occupancy and equipment      expense                                         |   |                                                                                                    | 954,949     |   |                                                                                                    |   | 641,986 |   |   |   | 2,774,742 |   |   |   | 1,855,593 |   |
| Other operating      expenses                                                |   |                                                                                                    | 2,810,388   |   |                                                                                                    |   | 1,174,226 |   |   |   | 6,629,892 |   |   |   | 2,890,973 |   |
| Total Noninterest      Expenses                                              |   |                                                                                                    | 6,504,811   |   |                                                                                                    |   | 4,496,519 |   |   |   | 17,657,901 |   |   |   | 12,835,765 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Income      (loss) before income taxes                                       |   |                                                                                                    | (30,996,451 | )      |                                                                                                    |   | 5,280,006 |   |   |   | (40,471,293 | ) |   |   | 20,035,800 |   |
| Income      tax (benefit) expense                                            |   |                                                                                                    | (12,023,003 | )      |                                                                                                    |   | 1,983,063 |   |   |   | (15,820,234 | ) |   |   | 7,542,492 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Net      Income (Loss)                                                       |   |                                                                                                    | (18,973,448 | )      |                                                                                                    | $      | 3,296,943 |   |   |   | (24,651,059 | ) |   | $ | 12,493,308 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Basic      earnings per common share                                         |   | $                                                                                                       | (2.40       | )      |                                                                                                    | $      | 0.42 |   |   | $ | (3.11 | ) |   | $ | 1.58 |   |
| Diluted      earnings per common share                                       |   |                                                                                                    | (2.40       | )      |                                                                                                    |   | 0.41 |   |   |   | (3.10 | ) |   |   | 1.55 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Cash      dividends declaredper common share                                 |   |                                                                                                    |  0.00  |   |                                                                                                    |   | 0.00 |   |   |   | 0.00 |   |   |   | 0.21 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |
| Weighted      average commonshares outstanding –      basic            |   |                                                                                                    | 7,918,217   |   |                                                                                                    |   | 7,909,664 |   |   |   | 7,918,119 |   |   |   | 7,909,664 |   |
| Weighted      average commonshares outstanding -      diluted                |   |                                                                                                    | 7,918,217   |   |                                                                                                    |   | 8,045,938 |   |   |   | 7,949,943 |   |   |   | 8,041,134 |   |
|                                                                         |   |                                                                                                    |        |   |                                                                                                    |   |   |   |   |   |   |   |   |   |   |   |

----

|                                                |   |               Preferred              Stock |    |   |             Common           Stock |   |    |             Paid-in            Capital |   |   |            Retained           Earnings |   |   | Total  |        |
|-----------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------|---------|--------|-------------------------------------------------------------------------------------------|--------|---------|----------------------------------------------------------------------------------------------------|--------|--------|------------------------------------------------------------------------------------------|--------|--------|--------|-------------|
|                                                |   |                                                                                                                  |    |   |                                                                                      |   |    |                                                                                               |   |   |                                                                                     |   |   |   |        |
| Balance      at December 31, 2007                   |   | $                                                                                                                     | — |   |                                                                                      | $      | 79,093  |                                                                                               |   | $      | 18,456,882                                                                               |   |   | $      | 79,669,062  |   |   | $ | 98,205,037 |   |
|                                                |   |                                                                                                                  |    |   |                                                                                      |   |    |                                                                                               |   |   |                                                                                     |   |   |   |        |   |   |   |   |   |
| Net      loss - nine months endedSeptember 30, 2008 |   |                                                                                                                  | — |   |                                                                                      |   | — |                                                                                               |   |   | —                                                                                  |   |   |   | (24,651,059 | ) |   |   | (24,651,059 | ) |
|                                                |   |                                                                                                                  |    |   |                                                                                      |   |    |                                                                                               |   |   |                                                                                     |   |   |   |        |   |   |   |   |   |
| Sale      of common stock                           |   |                                                                                                                  | — |   |                                                                                      |   | 89      |                                                                                               |   |   | 53,911                                                                                   |   |   |   | —     |   |   |   | 54,000 |   |
|                                                |   |                                                                                                                  |    |   |                                                                                      |   |    |                                                                                               |   |   |                                                                                     |   |   |   |        |   |   |   |   |   |
| Stock-based      compensation expense               |   |                                                                                                                  | — |   |                                                                                      |   | — |                                                                                               |   |   | 14,181                                                                                   |   |   |   | —     |   |   |   | 14,181 |   |
|                                                |   |                                                                                                                  |    |   |                                                                                      |   |    |                                                                                               |   |   |                                                                                     |   |   |   |        |   |   |   |   |   |
| Balance      at September 30, 2008                  |   | $                                                                                                                     | — |   |                                                                                      | $      | 79,182  |                                                                                               |   | $      | 18,524,974                                                                               |   |   | $      | 55,018,003  |   |   | $ | 73,622,159 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |     Nine      Months                                       |             |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               Ended September 30, |             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | 2008                                                                      |             |   | 2007 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |
| Operating      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                      |             |   |   |   |
| Net Income      (Loss)                                                                                                                           |   | $                                                                         | (24,651,059      | ) |   | $ | 12,493,308 |   |
| Adjustments to reconcile net      income to net cash  provided by      operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                                      |             |   |   |   |   |   |
| Provision for loan      losses                                                                                                                                            |   |                                                                      | 39,802,400       |   |   |   | 849,100 |   |
| Compensation associated with the      issuanceof options, net of      tax                                                                                                           |   |                                                                      |  14,181     |   |   |   | 29,055 |   |
| Gain on sale of other real estate      owned property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                      | (62,552          | ) |   |   | (404,921 | ) |
|           Gain      on disposal of premises and equipment................                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                                      | —          |   |   |   | (2,780 | ) |
| Writedown on other real estate      owned property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                                                                      | 463,969          |   |   |   | — |   |
| Depreciation, amortization, and      accretion, net                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                      | 789,174          |   |   |   | 772,053 |   |
| Decrease in accrued interest      receivable                                                                                                     |   |                                                                      | 209,555          |   |   |   | 1,501,558 |   |
|    Increase      in accrued income taxes receivable........................                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                                      | (12,301,362      | ) |   |   |   |   |
| Increase in accrued interest      payable                                                                                                        |   |                                                                      | (282,448         | ) |   |   | 1,104,926 |   |
| (Increase) decrease in deferred      tax asset,      net                                                                                         |   |                                                                      | (10,518,871      | ) |   |   | (3,637,978 | ) |
| Other,      net                                                                                                                                  |   |                                                                      | (3,293,615       | ) |   |   | 2,487,170 |   |
| Net Cash (Used In ) Provided By      Operating Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                      | (9,830,627       | ) |   |   | 15,191,491 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |   |   |
| Investing      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                      |             |   |   |   |   |   |
| Purchase of investment securities      held-to-maturity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                      | (85,718,391      | ) |   |   | (42,803,676 | ) |
| Proceeds from pay-downs of      investmentsecurities      held-to-maturity                                                                                 |   |                                                                      |  14,221,140 |   |   |   | 5,813,206 |   |
| Net (purchase)/sale of other      investment securities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                      | (1,504,636       | ) |   |   | 445,500 |   |
| Net decrease in loans to      customers                                                                                                          |   |                                                                      | 35,228,276       |   |   |   | 93,846,712 |   |
| Proceeds from other      investments                                                                                                             |   |                                                                      | —          |   |   |   | 48,000 |   |
| Proceeds from the sale of premises      and equipment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                      | —          |   |   |   | 12,536 |   |
| Purchase of premises and      equipment                                                                                                          |   |                                                                      | (5,314,849       | ) |   |   | (4,894,873 | ) |
| Proceeds from the sale of other      real estate owned                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                                                                      | 3,332,011        |   |   |   | 2,203,435 |   |
| Net Cash (Used In) Provided By      Investing Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                      | (39,756,449      | ) |   |   | 54,670,840 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |   |   |
| Financing      Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |                                                                      |             |   |   |   |   |   |
| Net decrease in demand deposits,      NOW accountsand savings      accounts                                                                                |   |                                                                      | (88,104,670      | ) |   |   | (33,395,056 | ) |
| Net increase (decrease) in      certificates of deposits                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                      | 136,115,676      |   |   |   | (44,787,374 | ) |
| Issuance of short-term borrowings,      net                                                                                                      |   |                                                                      | 1,189,000        |   |   |   | 12,474,000 |   |
| Net decrease in FHLB      advances                                                                                                               |   |                                                                      | (5,000,000       | ) |   |   | (10,000,000 | ) |
| Dividends      paid                                                                                                                              |   |                                                                      | —          |   |   |   | (1,647,847 | ) |
| Net Cash Provided By (Used In)      Financing Activities                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                                                                      | 44,200,006       |   |   |   | (77,356,277 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |   |   |
| Net      Decrease in Cash and Cash Equivalents                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                      | (5,387,070       | ) |   |   | (7,493,946 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |   |   |
| Cash      and Cash Equivalents at Beginning of Period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                      | 14,729,315       |   |   |   | 20,612,342 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |                                                                      |             |   |   |   |   |   |
| Cash      and Cash Equivalents at End of Period                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                                                                         | 9,342,245        |   |   | $ | 13,118,396 |   |

----

----

----

|                            |   |           Amortized   Cost |        |   |           Gross           Unrealized           Gains |   |      |   Gross          Unrealized        Losses |   |   | Estimated Fair        Value |   |
|---------------------------------|--------|----------------------------------------------------------|-------------|--------|----------------------------------------------------------------------------------------------------------------------------|--------|-----------|-----------------------------------------------------------------------------------|--------|--------|------------------------------------------------------|--------|
| Securities Held-to-Maturity     |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |
| September      30, 2008:        |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |
| FHLB      and FHLMC             |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |
| agency notes                    |   | $                                                        | 21,487,567  |   |                                                                                                                       | $      | 341,508   |                                                                              |   | $      | 108,415                                              |   |   | $ | 21,720,660 |   |
| Municipal      securities       |   |                                                     | 20,794,780  |   |                                                                                                                       |   | —   |                                                                              |   |   | 1,150,609                                            |   |   |   | 19,644,171 |   |
| Mortgage-backed      securities |   |                                                     | 165,054,741 |   |                                                                                                                       |   | 1,552,975 |                                                                              |   |   | 383,638                                              |   |   |   | 166,224,078 |   |
|                            |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |   |   |   |   |
|                            |   | $                                                        | 207,337,088 |   |                                                                                                                       | $      | 1,894,483 |                                                                              |   | $      | 1,642,662                                            |   |   | $ | 207,588,909 |   |
|                            |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |   |   |   |   |
| December      31, 2007:         |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |   |   |   |   |
| FHLB      and FHLMC             |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |   |   |   |   |
| agency notes                    |   | $                                                        | 18,491,643  |   |                                                                                                                       | $      | 570,623   |                                                                              |   | $      | 9,166                                                |   |   | $ | 19,053,100 |   |
| Municipal      securities       |   |                                                     | 20,786,520  |   |                                                                                                                       |   | 63,186    |                                                                              |   |   | 88,627                                               |   |   |   | 20,761,079 |   |
| Mortgage-backed      securities |   |                                                     | 96,531,894  |   |                                                                                                                       |   | 663,977   |                                                                              |   |   | 510,052                                              |   |   |   | 96,685,819 |   |
|                            |   |                                                     |        |   |                                                                                                                       |   |      |                                                                              |   |   |                                                 |   |   |   |   |   |
|                            |   | $                                                        | 135,810,057 |   |                                                                                                                       | $      | 1,297,786 |                                                                              |   | $      | 607,845                                              |   |   | $ | 136,499,998 |   |

|                            |                              Less Than 12 Months   |                              12 Months or More         |                    Total                                                                                  |
|---------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Description of Securities       | Fair                 Value               | Unrealized               Losses                                                                                              | Fair                Value                          | Unrealized             Losses                | Fair             Value | Unrealized             Losses              |
|                            |                                                                                                                                                                  |                                                                                                                                                                      |                                                                                                                                                                       |   |   |   |
| FHLB      and FHLMCagency notes |                             $4,891,585                  | $108,415                                                                                                                                                                  | $          —                                                                                                       | $         — | $4,891,585 | $108,415 |
| Municipal      securities       |                                18,831,530     | 1,088,385                                                                                                                                                                 | 812,641                                                                                                                                                                    | 62,224 | 19,644,171 | 1,150,609 |
| Mortgage-backedsecurities       |                              38,933,549            |                                 383,638 |  —                                                                                                                                                              |  — |                         38,933,549 |                          383,638 |
|                            |                                                                                                                                                                  |                                                                                                                                                                      |                                                                                                                                                                       |   |   |   |
|                            |                           $62,656,664                             |                           $1,580,438                                  |                                 $812,641 |                                $62,224 |                   $      63,469,305 |                    $1,642,662 |
|                            |                                                                                                                                                                  |                                                                                                                                                                      |                                                                                                                                                                       |   |   |   |

----

|                                                                   |   | September      30, 2008 |    |   | December      31, 2007 |   |
|------------------------------------------------------------------------|--------|-------------------------|---------|--------|------------------------|--------|
|                                                                   |   |                    |    |   |                   |   |
|                                                                   |   |                    |    |   |                   |   |
| Allowance      for loan losses at beginning of year                    |   | $                       | 18,309  |   |                   | $      | 13,590 |   |
| Loans      charged off:                                                |   |                    |    |   |                   |   |   |   |
| Commercial,      financial and agricultural                            |   |                    | 136     |   |                   |   | 734 |   |
| Real      estate - mortgage                                            |   |                    | 18,373  |   |                   |   | 1,485 |   |
| Consumer                                                               |   |                    | 156     |   |                   |   | 122 |   |
| Total      loans charged off                                           |   |                    | 18,665  |   |                   |   | 2,341 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Recoveries      on loans previously charged off:                       |   |                    |    |   |                   |   |   |   |
| Commercial,      financial and agricultural                            |   |                    | 122     |   |                   |   | 9 |   |
| Real      estate - mortgage                                            |   |                    | 23      |   |                   |   | 139 |   |
| Consumer                                                               |   |                    | 15      |   |                   |   | 44 |   |
| Total      recoveries                                                  |   |                    | 160     |   |                   |   | 192 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Net      loans charged off (recovered)                                 |   |                    | 18,505  |   |                   |   | 2,149 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Provision      for loan losses                                         |   |                    | 39,803  |   |                   |   | 6,868 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Allowance      for loan losses at end of period                        |   | $                       | 39,607  |   |                   | $      | 18,309 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Loans,      net of unearned income, at end of period                   |   | $                       | 655,801 |   |                   | $      | 761,431 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Average      loans, net of unearned income, outstanding for the period |   |                    | 718,712 |   |                   |   | 812,603 |   |
|                                                                   |   |                    |    |   |                   |   |   |   |
| Ratio      of net charge-offs to net average loans                     |   |                    | 2.57    | %      |                   |   | 0.26 | % |

----

|                                         |   | As      of September 30, 2008 |   |   | As      of December 31, 2007                               |   |
|----------------------------------------------|--------|-------------------------------|--------|--------|------------------------------------------------------------|--------|
|                                         |   | Amount                        |   |   | Percentof      Loansin      EachCategoryto      TotalLoans |   |   | Amount |   |   | Percentof      Loansin      EachCategoryto      TotalLoans |   |
|                                         |   |                          |   |   |                                                       |   |   |   |   |   |   |   |
| Domestic      loans:                         |   |                          |   |   |                                                       |   |   |   |   |   |   |   |
| Commercial,      financial and agricultural  |   | $                             | 2,331  |   |                                                       |   | 5.89 | % |   | $ | 455 |   |   |   | 5.60 | % |
| Real      estate - mortgage and construction |   |                          | 36,883 |   |                                                       |   | 93.12 |   |   |   | 17,783 |   |   |   | 93.60 |   |
| Consumer                                     |   |                          | 393    |   |                                                       |   | 0.99 |   |   |   | 71 |   |   |   | 0.80 |   |
|                                         |   | $                             | 39,607 |   |                                                       |   | 100.00 | % |   | $ | 18,309 |   |   |   | 100.00 | % |

|                                                                        |   | September30,2008 |    |   | December      31, 2007 |   |
|-----------------------------------------------------------------------------|--------|------------------|---------|--------|------------------------|--------|
|                                                                        |   |             |    |   |                   |   |
|                                                                        |   |             |    |   |                   |   |
| Nonaccruing      loans                                                      |   | $                | 106,753 |   |                   | $      | 111,147 |   |
| Accruing      loans 90 days or more past due                                |   |             | 4,197   |   |                   |   | 6,513 |   |
| Restructured      loans                                                     |   |             | 3,886   |   |                   |   | 257 |   |
| Total      nonperforming loans                                              |   |             | 114,836 |   |                   |   | 117,917 |   |
| Nonaccruing      securities                                                 |   |             | — |   |                   |   | — |   |
| Other      real estate                                                      |   |             | 54,300  |   |                   |   | 1,065 |   |
|                                                                        |   |             |    |   |                   |   |   |   |
| Total                                                                       |   | $                | 169,136 |   |                   | $      | 118,982 |   |
|                                                                        |   |             |    |   |                   |   |   |   |
| Ratios:                                                                     |   |             |    |   |                   |   |   |   |
| Loan      loss allowance to total nonperforming assets                      |   |             | 0.234   |   |                   |   | 0.154 |   |
|                                                                        |   |             |    |   |                   |   |   |   |
| Total      nonperforming loans to total loans (net of unearned    interest) |   |             | 0.175   |   |                   |   | 0.155 |   |
|                                                                        |   |             |    |   |                   |   |   |   |
| Total      nonperforming assets to total assets                             |   |             | 0.195   |   |                   |   | 0.126 |   |

----

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |          September 30,    2008 |       |   | December      31,2007 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------|------------|--------|-----------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                         |       |   |                  |   |
| Commitments      to extend      credit                                                                                                 |   | $                                                            | 57,670,000 |   |                  | $      | 105,465,000 |   |
| Standby      and commercial letters of      credit                                                                                     |   |                                                         | 2,349,000  |   |                  |   | 1,879,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                         |       |   |                  |   |   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $                                                            | 60,019,000 |   |                  | $      | 107,344,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                                                         |       |   |                  |   |   |   |

----

----

|   | Level 2 - Observable      inputs including quoted prices (other than level 1) in active markets for      similar assets or liabilities, quoted prices for identical or similar      assets or liabilities in markets that are not active, inputs other than      quoted prices that are observable for the asset or liability such as      interest rates, yield curves, volatilities and default rates, and inputs      that are derived principally from or corroborated by observable market      data. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Level 3 - Unobservable      inputs reflect the reporting entity’s own assumptions about the      assumptions market participants would use in pricing the asset or      liability based on the best information  available. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                       |   |                          |    | Fair      Value Measurements at Reporting Date Using |   |
|------------------------------------------------------------|--------|-------------------------------|---------|------------------------------------------------------|--------|
|                                                       |   |                          |    | (Dollars      in Thousands)                          |   |
|   Asset      or Liability Measured at Fair Value |   |  September      30, 2008 |    | Quoted      Prices in Active Markets Level 1         |   |   |   | Significant      Other Observable InputsLevel      2 |   |   |   |   | Significant      Unobservable InputsLevel      3 |   |
|                                                       |   |                          |    |                                                 |   |   |   |   |   |   |   |   |   |   |
| Measured      on a Nonrecurring Basis                      |   |                          |    |                                                 |   |   |   |   |   |   |   |   |   |   |
|                                                       |   |                          |    |                                                 |   |   |   |   |   |   |   |   |   |   |
| Assets                                                     |   |                          |    |                                                 |   |   |   |   |   |   |   |   |   |   |
|                                                       |   |                          |    |                                                 |   |   |   |   |   |   |   |   |   |   |
| Collateral      dependent impaired loans                   |   | $                             | 148,126 |                                                 |   |   | $ |   |   |   |   | $ |   |   |   | $ | 148,126 |   |
| Foreclosed      real estate                                |   |                          | 54,300  |                                                 |   |   |   |   |   |   |   |   |   |   |   |   | 54,300 |   |
| Total      assets at fair value                            |   | $                             | 202,426 |                                                 |   |   | $ |   |   |   |   | $ |   |   |   | $ | 202,426 |   |

----

----

----

----

----

|                                                                                                                                                                                                                                                                                                                                                                                         |   |                                        Estimated Fair Value of Financial Instruments |    |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                         |   | Down1      Percent                                                                                                                                                                                                                                        |    |   | Up1      Percent |   |   | Down2      Percent |   |   | Up2      Percent |   |
|                                                                                                                                                                                                                                                                                                                                                                                         |   | Dollars      in Thousands                                                                                                                                                                                                                                 |    |
| Interest-earning      Assets                                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                      |    |   |   |   |   |   |   |   |   |   |
| Loans                                                                                                                                                                                                                                                                                                                                                                                        |   | $                                                                                                                                                                                                                                                         | 661,745 |   |   | $ | 653,572 |   |   | $ | 667,968 |   |   | $ | 650,538 |   |
| Federal      funds sold and cash equivalents                                                                                                                                                                                                                                                                                                                                                 |   |                                                                                                                                                                                                                                                      | 104     |   |   |   | 104 |   |   |   | 104 |   |   |   | 104 |   |
| Securities                                                                                                                                                                                                                                                                                                                                                                                   |   |                                                                                                                                                                                                                                                      | 223,063 |   |   |   | 203,084 |   |   |   | 234,116 |   |   |   | 194,156 |   |
| Total Interest-earning      Assets                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                      | 884,912 |   |   |   | 856,760 |   |   |   | 902,188 |   |   |   | 844,798 |   |
|                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing      Liabilities                                                                                                                                                                                                                                                                                                                                                            |   |                                                                                                                                                                                                                                                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Deposits      - Savings and demand                                                                                                                                                                                                                                                                                                                                                           |   |                                                                                                                                                                                                                                                      | 181,488 |   |   |   | 176,192 |   |   |   | 184,812 |   |   |   | 173,639 |   |
| Deposits      - Time                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                      | 588,889 |   |   |   | 580,646 |   |   |   | 592,762 |   |   |   | 574,121 |   |
| Other      borrowings                                                                                                                                                                                                                                                                                                                                                                        |   |                                                                                                                                                                                                                                                      | 84,100  |   |   |   | 81,914 |   |   |   | 86,635 |   |   |   | 81,207 |   |
| Total Interest-bearing      Liabilities                                                                                                                                                                                                                                                                                                                                                      |   |                                                                                                                                                                                                                                                      | 854,477 |   |   |   | 838,752 |   |   |   | 864,209 |   |   |   | 828,967 |   |
|                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net      Difference in Fair      Value                                                          |   | $                                                                                                                                                                                                                                                         | 30,435  |   |   | $ | 18,008 |   |   | $ | 37,979 |   |   | $ | 15,831 |   |
|                                                                                                                                                                                                                                                                                                                                                                                         |   |                                                                                                                                                                                                                                                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Change      in Net Interest Income                                                                                                                                                                                                                                                                                                                                                           |   | $                                                                                                                                                                                                                                                         | (1,081  | ) |   | $ | 236 |   |   | $ | (2,463 | ) |   | $ | 1,242 |   |

----

----

| Exhibit No. |   | Exhibit                                                                                                                                         |   | Page   |
|-------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 3.1         |   | Articles      of Incorporation of FCBI (included as Exhibit 3.1 to FCBI's Registration      Statement on Form 8-A filed with the SEC on April 15, 2002, and      incorporated herein by reference).                                                                                                                                                                                                                                          |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 3.2         |   | By-laws      of FCBI (included as Exhibit 3.2 to FCBI's Registration Statement on Form      8-A filed with the SEC on April 15, 2002, and incorporated herein by      reference).                                                                                                                                                                                                                                                            |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 4.1         |   | Subordinated      Promissory Note dated December 24, 2001, between Florida Community Bank      and Independent Bankers Bank of Florida (included as Exhibit 4.1 to the      Bank's Form 10-KSB for the year ended December 31, 2001, and incorporated      herein by reference).                                                                                                                                                             |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 4.2         |   | Specimen      Common Stock Certificate of FCBI (included as Exhibit 4.1 to FCBI's      Registration Statement on Form 8-A filed with the SEC on April 15, 2002,      and incorporated herein by reference).                                                                                                                                                                                                                                  |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 10.1        |   | 2002      Key Employee Stock Compensation Program of FCBI (included as Appendix D to      the Bank's Definitive Schedule 14-A filed with the FDIC on March 22, 2002,      and incorporated herein by reference).                                                                                                                                                                                                                             |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 10.2        |   | Amended      and Restated Trust Agreement among Florida Community Banks, Inc. as      depositor, Wilmington Trust Company as property trustee, Wilmington Trust      Company, as Delaware trustee, and Stephen L. Price, and Thomas V. Ogletree      as administrators, dated as of June 21, 2002 (included as Exhibit 10.3 to      the Company's Form 10-Q for the quarter ended June 30, 2002, and      incorporated herein by reference). |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 10.3        |   | Guarantee      Agreement between Florida Community Banks, Inc. as guarantor, and      Wilmington Trust Company as guarantee trustee, dated as of June 21, 2002      (included as Exhibit 10.4 to the Company's Form 10-Q for the quarter ended      June 30, 2002, and incorporated herein by reference).                                                                                                                                    |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 10.4        |   | Junior      Subordinated Indenture between Florida Community Banks, Inc. (as Company)      and Wilmington Trust Company (as trustee), dated as of June 21, 2002      (included as Exhibit 10.5 to the Company's Form 10-Q for the quarter ended      June 30, 2002, and incorporated herein by reference).                                                                                                                                   |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
| 10.5        |   | Employee      Stock Ownership Plan (included as Exhibit 10.5 to the Company's Form S-8      filed May 6, 2004, and incorporated herein by reference).                                                                                                                                                                                                                                                                                        |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |

| Exhibit No. |   | Exhibit                                                                                                                                                                                                                                                                                                                                                                                                |   | Page         |
|-------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 10.6        |   | Amended      and Restated Declaration of Trust, dated as of May 12, 2006, by and among      the Company, as Depositor, Wells Fargo Bank, National Association, as      Institutional Trustee and Delaware Trustee, and the Administrators named      therein (included as Exhibit 10.3 to the Company's Form 8-K filed with the      SEC on May 12, 2006, and incorporated herein by reference).  |   |         |
| 10.7        |   | Guarantee      Agreement, dated as of May 12, 2006, by and between the Company, as      Guarantor, and Wells Fargo Bank, National Association, as Guarantee      Trustee (included as Exhibit 10.2 to the Company's Form 8-K filed with the      SEC on May 12, 2006, and incorporated herein byreference).                                                                                            |   |         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 10.8        |   | Indenture,      dated as of May 12, 2006, by and between the Company and Wells Fargo Bank,      National Association, as Trustee (included as Exhibit 10.1 to the      Company's Form 8-K filed with the SEC on May 12, 2006, and incorporated      herein by reference).                                                                                                                              |   |         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 10.9        |   | Stipulation      and Consent of Entry of Order to Cease and Desist. Dated October 17,      2008.                                                                                                                                                                                                                                                                                                       |   |         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 11          |   | Statement      re: computation of earnings per common share                                                                                                                                                                                                                                                                                                                                            |   |         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 14          |   | Code      of Ethics (included as Exhibit 99.1 to the Company's Form 8-K filed on      March 3, 2003, and incorporated herein by reference.)                                                                                                                                                                                                                                                            |   |         |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 31.1        |   | Chief      Executive Officer - Certification of principal executive officer pursuant      to the Exchange Act Rule 13(a)-14(a) or 15(d)-14(a).                                                                                                                                                                                                                                                         |   |    |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 31.2        |   | Chief      Financial Officer - Certification of principal financial officer pursuant      to the Exchange Act Rule 13(a)-14(a) or 15(d)-14(a).                                                                                                                                                                                                                                                         |   |    |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 32.1        |   | Chief      Executive Officer - Certification pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                                                                                       |   |    |
|        |   |                                                                                                                                                                                                                                                                                                                                                                                                   |   |         |
| 32.2        |   | Chief      Financial Officer - Certification pursuant to 18 U.S.C. Section 1350, as      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                                                                                       |   |    |

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|                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| By:  /s/ Stephen L.      Price                                                  | November 9,      2008                                              |
| Stephen      L. Price                                                                                                                                                                                                                                                                                                                          | Date                                                                                                                                                                                                                                                                                                |
| President,      Chief Executive Officer                                                                                                                                                                                                                                                                                                        |                                                                                                                                                                                                                                                                                                |
| And      Chairman of the Board of Directors                                                                                                                                                                                                                                                                                                    |                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                |
| /s/ Guy W.      Harris                                                                    | November 9,      2008                                              |
| Guy      W. Harris                                                                                                                                                                                                                                                                                                                             | Date                                                                                                                                                                                                                                                                                                |
| Chief      Financial Officer                                                                                                                                                                                                                                                                                                                   |                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                           |                                                                                                                                                                                                                                                                                                |

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