UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                  FORM 10-QSB

              [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the Quarterly Period Ended June 30, 2003

                                       OR

              [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                    For the Transition Period from _____ to

                        Commission file number 333-34908
                                               ---------



                North Georgia Community Financial Partners, Inc.
                ------------------------------------------------
             (Exact name of registrant as specified in its charter)

            Georgia                                   58-2585603
        ----------------                              ----------
    (State of Incorporation)              (I.R.S. Employer Identification No.)

                              350 W. Belmont Drive
                             Calhoun, Georgia 30701
                            ------------------------
                    (Address of principal executive offices)


                                  706-629-6499
                                  ------------
                (Issuer's Telephone Number, Including Area Code)


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

                   Common stock, no par value; 912,167 shares
                        outstanding as of August 7, 2003.


<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                        INDEX

                                                                       Page  No.
                                                                       ---------

PART  I     FINANCIAL INFORMATION

   Item  1.   Financial Statements

              Consolidated Balance Sheet (Unaudited) at
               June 30, 2003                                                   3

              Consolidated Statements of Earnings (Unaudited)
               for the Three Months and the Six Months Ended
               June 30, 2003 and 2002                                          4

              Consolidated Statements of Comprehensive Income
               (Unaudited) for the Three Months and the Six Months Ended
               June 30, 2003 and 2002                                          5

              Consolidated Statements of Cash Flows (Unaudited)
               for the Six Months Ended June 30, 2003 and 2002                 6

              Notes to Consolidated Financial Statements (Unaudited)           7

   Item  2.   Management's Discussion and Analysis or Plan of Operation        9

   Item  3.   Controls and Procedures                                         11

PART  II.     OTHER INFORMATION

   Item  1.   Legal Proceedings                                               12

   Item  2.   Changes in Securities and Use of Proceeds                       12

   Item  3.   Defaults Upon Senior Securities                                 12

   Item  4.   Submission of Matters to a Vote of Security Holders             12

   Item  5.   Other Information                                               12

   Item  6.   Exhibits and Reports on Form 8-K                                12

SIGNATURES                                                                    13


                                      -2-
<PAGE>
                         PART I.  FINANCIAL INFORMATION

Item  1.  Financial  Statements

<TABLE>
<CAPTION>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                           Consolidated Balance Sheet

                                  June 30, 2003
                                   (Unaudited)
<S>                                                          <C>
Cash and due from banks                                      $ 2,548,509
Interest-bearing deposits in banks                               354,653
Federal funds sold                                             2,800,000
                                                             ------------
        Cash and cash equivalents                              5,703,162

Investment securities available for sale                      25,304,627
Other investments                                                812,025

Loans                                                         62,762,319
 Less:  Allowance for loan losses                                780,278
                                                             ------------
        Loans, net                                            61,982,041

Premises and equipment, net                                    2,286,592
Accrued interest receivable and other assets                   1,896,150
                                                             ------------
                                                             $97,984,597
                                                             ============
Liabilities and Stockholders' Equity
------------------------------------
Liabilities:
 Deposits:
  Noninterest-bearing                                        $ 5,120,076
  Interest-bearing                                            78,205,303
                                                             ------------
       Total deposits                                         83,325,379

Other borrowings                                               2,000,000
Securities sold under repurchase agreements                    3,316,137
Accrued interest payable and other liabilities                   334,282
                                                             ------------
       Total liabilities                                      88,975,798
                                                             ------------
Stockholders' equity:
 Preferred stock, no par value; authorized 2,000,000 shares;
  None issued and outstanding                                          -
 Common stock, no par value; authorized 10,000,000 shares;
  912,167 shares issued and outstanding                        9,417,401
Accumulated deficit                                             (584,660)
Accumulated other comprehensive income                           176,058
                                                             ------------
       Total stockholders' equity                              9,008,799
                                                             ------------
                                                             $97,984,597
                                                             ============
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -3-
<PAGE>
<TABLE>
<CAPTION>
                              NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                     Consolidated Statements of Earnings

                    For the Three Months and the Six Months Ended June 30, 2003 and 2002
                                                 (Unaudited)

                                                                   Three Months             Six Months
                                                                  Ended June 30           Ended June 30
                                                               2003          2002        2003        2002
                                                           -------------  ----------  ----------  ----------
<S>                                                        <C>            <C>         <C>         <C>
Interest income:
 Interest and fees on loans                                $    939,756     762,654   1,803,578   1,483,605
 Interest on investment securities                              199,422     364,151     407,087     704,167
 Interest on federal funds sold                                   2,194       7,680      13,471      12,121
 Interest on deposits with other banks                              684       1,010       1,620       1,070
                                                           -------------  ----------  ----------  ----------
       Total interest income                                  1,142,056   1,135,495   2,225,756   2,200,963
                                                           -------------  ----------  ----------  ----------
Interest expense:
 Deposits                                                       384,144     406,071     744,416     822,865
 Other borrowings                                                13,295      28,549      25,988      37,168
 Securities sold under repurchase agreements                     12,965           -      30,386           -
                                                           -------------  ----------  ----------  ----------
       Total interest expense                                   410,404     434,620     800,790     860,033
                                                           -------------  ----------  ----------  ----------
       Net interest income                                      731,652     700,875   1,424,966   1,340,930
Provision for loan losses                                       100,000      45,000     130,000      75,000
                                                           -------------  ----------  ----------  ----------
       Net interest income after provision for loan losses      631,652     655,875   1,294,966   1,265,930
                                                           -------------  ----------  ----------  ----------
Other operating income:
 Service charges on deposit accounts                             76,024      70,647     153,313     129,994
 Gain on sales of investment securities available for sale       69,458           -     229,194           -
 Other operating income                                          83,349      36,363     145,707      90,485
                                                           -------------  ----------  ----------  ----------
       Total other income                                       228,831     107,010     528,214     220,479
                                                           -------------  ----------  ----------  ----------
Other operating expense:
 Salaries and employee benefits                                 376,559     291,450     712,482     592,634
 Equipment and occupancy expense                                 92,024      85,809     180,519     167,274
 Capitalized loan origination costs                             (62,180)    (47,859)   (113,270)    (92,902)
 Other operating expense                                        252,659     231,897     495,078     438,807
                                                           -------------  ----------  ----------  ----------
       Total other operating expense                            659,062     561,297   1,274,809   1,105,813
                                                           -------------  ----------  ----------  ----------
       Earnings before income taxes                             201,421     201,588     548,371     380,596
Income tax benefit                                              355,029           -     355,029           -
                                                           -------------  ----------  ----------  ----------
       Net earnings                                        $    556,450     201,588     903,400     380,596
                                                           =============  ==========  ==========  ==========
Basic earnings per share                                   $        .61         .22         .99         .42
                                                           =============  ==========  ==========  ==========
Diluted earnings per share                                 $        .59         .22         .97         .41
                                                           =============  ==========  ==========  ==========
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -4-
<PAGE>
<TABLE>
<CAPTION>
                                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                 Consolidated Statements of Comprehensive Income

                         For the Three Months and the Six Months Ended June 30, 2003 and 2002
                                                     (Unaudited)

                                                                              Three Months        Six Months
                                                                             Ended June 30       Ended June 30
                                                                            2003      2002      2003      2002
                                                                         ----------  -------  ---------  -------
<S>                                                                      <C>         <C>      <C>        <C>
Net earnings                                                             $ 556,450   201,588   903,400   380,596
Other comprehensive income (loss), net of tax:
 Unrealized holding gains on investment securities available for sale      120,236   654,345    26,154   288,691
 Reclassification adjustment for gains on investment securities
   available for sale                                                      (69,458)        -  (229,194)        -
                                                                         ----------  -------  ---------  -------
       Total other comprehensive income (loss), before tax                  50,778   654,345  (203,040)  288,691
                                                                         ----------  -------  ---------  -------
Income taxes related to other comprehensive income:
 Unrealized holding gains on investment securities available for sale     (134,300)        -  (195,000)        -
 Reclassification adjustment for gains on investment securities
   available for sale                                                       26,394         -    87,094         -
                                                                         ----------  -------  ---------  -------
       Total income taxes related to other comprehensive income (loss)    (107,906)        -  (107,906)        -
                                                                         ----------  -------  ---------  -------
       Total other comprehensive income (loss), net of tax                 (57,128)  654,345  (310,946)  288,691
                                                                         ----------  -------  ---------  -------
       Comprehensive income                                              $ 499,322   855,933   592,454   669,287
                                                                         ==========  =======  =========  =======
</TABLE>

See accompanying notes to unaudited consolidated financial statements.


                                      -5-
<PAGE>
<TABLE>
<CAPTION>
                                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                     Consolidated Statements of Cash Flows

                                 For the Six Months Ended June 30, 2003 and 2002
                                                  (Unaudited)


                                                                                          Six Months Ended
                                                                                              June 30,
                                                                                         2003          2002
                                                                                     -------------  -----------
<S>                                                                                  <C>            <C>
Cash flows from operating activities:
 Net earnings                                                                        $    903,400      380,596
 Adjustments to reconcile net earnings to net cash provided by operating activities:
  Provision for loan losses                                                               130,000       75,000
  Deferred income tax benefit                                                            (355,029)           -
  Depreciation, amortization and accretion, net                                           167,108      106,766
  Gain on sale of investment securities                                                  (229,194)           -
Change in:
  Accrued interest receivable and other assets                                            (24,819)     (71,352)
  Accrued interest payable and other liabilities                                          117,402       (1,031)
                                                                                     -------------  -----------
     Net cash provided by operating activities                                            708,868      489,979
                                                                                     -------------  -----------
Cash flows from investing activities:
  Proceeds from sales of investment securities available for sale                       8,418,449            -
  Proceeds from maturities and paydowns of investment securities available for sale    11,344,555   12,898,723
  Purchases of investment securities available for sale                               (22,130,366)  (9,562,866)
  Purchases of other investments                                                         (190,600)     (41,500)
  Net change in loans                                                                 (11,951,743)  (5,209,526)
  Purchases of premises and equipment                                                    (483,378)     (30,216)
  Proceeds from sales of other real estate                                                 19,600            -
                                                                                     -------------  -----------
     Net cash used by investing activities                                            (14,973,483)  (1,945,385)
                                                                                     -------------  -----------
Cash flows from financing activities:
  Net change in deposits                                                               17,275,451    3,218,925
  Net change in securities sold under repurchase agreements                              (913,998)   5,096,109
  Net proceeds from sale of common stock                                                        -       12,000
                                                                                     -------------  -----------
     Net cash provided by financing activities                                         16,361,453    8,327,034
                                                                                     -------------  -----------
     Net change in cash and cash equivalents                                            2,096,838    6,871,628
Cash and cash equivalents at beginning of period                                        3,606,324    1,545,188
                                                                                     -------------  -----------
Cash and cash equivalents at end of period                                           $  5,703,162    8,416,816
                                                                                     =============  ===========
Supplemental disclosures of cash flow information:
  Change in unrealized (loss) gain on securities available for sale                  $   (203,040)     288,691
  Loans transferred to other real estate owned                                       $    240,704            -
  Financed sales of other real estate owned                                          $    176,991            -
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -6-
<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.
                   Notes to Consolidated Financial Statements
                                   (Unaudited)


(1)  Basis  of  Presentation
     -----------------------
     The consolidated financial statements include the accounts of North Georgia
     Community  Financial  Partners,  Inc.  (the "Company") and its wholly owned
     subsidiary,  North  Georgia  National  Bank  (the  "Bank").

     The  Bank,  is a community oriented commercial bank with emphasis on retail
     banking  and  offers  such  customary  banking  services  as  consumer  and
     commercial  checking  accounts,  savings accounts, certificates of deposit,
     commercial  and  consumer  loans,  money  transfers  and a variety of other
     banking  services.

     The  accounting  principles  followed  by  the Company and the Bank and the
     methods  of  applying  these  principles conform with accounting principles
     generally  accepted in the United States of America (GAAP) and with general
     practices within the banking industry. In preparing financial statements in
     conformity  with  GAAP,  management  is  required  to  make  estimates  and
     assumptions  that  affect the reported amounts in the financial statements.
     Actual  results  could  differ significantly from those estimates. Material
     estimates  common to the banking industry that are particularly susceptible
     to significant change in the near term include, but are not limited to, the
     determinations  of  the  allowance  for  loan losses, the valuation of real
     estate  acquired in connection with or in lieu of foreclosure on loans, and
     valuation  allowances  associated with deferred tax assets, the recognition
     of  which  are  based  on  future  taxable  income.

     The  unaudited  financial  information  furnished  herein  reflects  all
     adjustments, which in the opinion of management, are necessary to present a
     fair  statement of the results of operations and financial position for the
     periods  covered  herein.  All  such  adjustments are of a normal recurring
     nature.  The  results of operations for the six-month period ended June 30,
     2003, are not necessarily indicative of the results expected for the entire
     year.  For further information, readers should refer to Form 10-KSB for the
     year  ended  December  31,  2002.

(2)  Cash and Cash Equivalents
     -------------------------
     For purposes of reporting cash flows, the Company changed its definition of
     cash  and  cash  equivalents  to  include  cash  and  due  from  banks,
     interest-bearing  deposits  in  banks  and  federal  funds  sold.

(3)  Income  Taxes
     -------------
     The Company uses the liability method of accounting for income taxes, which
     requires  the  recognition  of  deferred tax assets and liabilities for the
     future  tax  consequences attributable to differences between the financial
     statement  carrying  amounts  of  existing assets and liabilities and their
     respective tax basis. Additionally, this method requires the recognition of
     future  tax  benefits,  such  as  net  operating loss carryforwards, to the
     extent  that realization of such benefits is more likely than not. Deferred
     tax assets and liabilities are measured using enacted tax rates expected to
     apply  to  taxable  income in the years in which the assets and liabilities
     are  expected to be recovered or settled. The effect on deferred tax assets
     and  liabilities  of  a  change  in  tax  rates is recognized in income tax
     expense  in  the  period  that  includes  the  enactment  date.

     In  the  event  the  future  tax  consequences  of  differences between the
     financial  reporting  bases  and  the tax bases of the Company's assets and
     liabilities  results  in  deferred  tax  assets,  an  evaluation  of  the
     probability  of being able to realize the future benefits indicated by such
     asset is required. A valuation allowance is provided for the portion of the
     deferred tax asset when it is more likely than not that some portion or all
     of  the  deferred  tax  asset  will  not  be  realized.  In  assessing  the
     realization  of the deferred tax assets, management considers the scheduled
     reversals of deferred tax liabilities, projected future taxable income, and
     tax  planning  strategies.

(4)  Earnings  Per  Share
     --------------------
     Earnings  per  common  share  are  based  on the weighted average number of
     common  shares  outstanding  during  the  period.  The effects of potential
     common  shares  outstanding  during  the  period  are  included  in diluted
     earnings  per  share. The average market price during the period is used to
     compute  equivalent  shares.  The reconciliation of the amounts used in the
     computation of both basic and diluted earnings per share for the six months
     ended  June  30,  2003  and  2002  are  as  follows:


                                      -7-
<PAGE>
<TABLE>
<CAPTION>
                       NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                     Notes to Consolidated Financial Statements, continued
                                          (Unaudited)

(4)  Earnings  Per  Share,  continued

                                        For the three months          For the six months
                                            Ended June 30,               Ended June 30,
                                    ----------------------------  ----------------------------
                                                          Per                           Per
                                       Net     Common    Share       Net     Common    Share
FOR THE PERIOD ENDED JUNE 30, 2003  Earnings   Shares    Amount   Earnings   Shares    Amount
----------------------------------  ---------  -------  --------  ---------  -------  --------
<S>                                 <C>        <C>      <C>       <C>        <C>      <C>

Earnings per common share           $ 556,450  912,167  $   .61   $ 903,400  912,167  $   .99
Effect of dilutive stock options            -   23,872     (.02)          -   23,872     (.02)
                                    ---------  -------  --------  ---------  -------  --------
Diluted earnings per common share   $ 556,450  936,039  $   .59   $ 903,400  936,039  $   .97
                                    =========  =======  ========  =========  =======  ========

FOR THE PERIOD ENDED JUNE 30, 2002
----------------------------------
Earnings per common share           $ 201,588  912,167  $   .22   $ 380,596  912,151  $   .42
Effect of dilutive stock options            -   12,505        -           -   12,505     (.01)
                                    ---------  -------  --------  ---------  -------  --------
Diluted earnings per common share   $ 201,588  924,672  $   .22   $ 380,596  924,656  $   .41
                                    =========  =======  ========  =========  =======  ========
</TABLE>

(5)  Stock  Based  Compensation
     --------------------------
     Statement of Financial Accounting Standards (SFAS) No. 123, "Accounting for
     Stock-Based  Compensation,"  encourages,  but does not require, entities to
     compute  the  fair  value  of options at the date of grant and to recognize
     such  costs  as  compensation  expense  immediately  if there is no vesting
     period  or  ratably over the vesting period of the options. The Company has
     chosen  not  to adopt the cost recognition principles of this statement and
     accounts for stock options under Accounting Principles Board Opinion No. 25
     and  its  related  interpretations.  Had compensation costs been determined
     based upon the fair value of the options at the grant dates consistent with
     the  method  of  SFAS  No. 123, the Company's net earnings and earnings per
     share  would  have  reflected  the  proforma  amounts  below:

<TABLE>
<CAPTION>
                                                      For the three months     For the six months
                                                         Ended June 30,          Ended June 30,
                                                    -----------------------  ------------------
                                                        2003         2002      2003      2002
                                                    -------------  --------  --------  --------
<S>                                                 <C>            <C>       <C>       <C>
Net earnings, as reported                           $    556,450   201,588   903,400   380,596
Proforma stock-based compensation cost adjustments
associated with previous grants vesting and
cancellations, net of tax                                (14,495)  (21,088)  (26,124)  (21,088)
                                                    -------------  --------  --------  --------
Proforma net earnings                               $    541,955   180,500   877,276   359,508
                                                    =============  ========  ========  ========
Basic earnings per share, as reported               $        .61       .22       .99       .42
Proforma stock-based compensation cost adjustments
associated with previous grants vesting and
cancellations, net of tax                                   (.02)     (.02)     (.03)     (.03)
                                                    -------------  --------  --------  --------
Basic proforma earnings, per share                  $        .59       .20       .96       .39
                                                    =============  ========  ========  ========
Diluted earnings per share, as reported             $        .59       .22       .97       .41
Proforma stock-based compensation cost adjustments
associated with previous grants vesting and
cancellations, net of tax                                   (.01)     (.02)     (.03)     (.02)
                                                    -------------  --------  --------  --------
Diluted proforma earnings, per share                $        .58       .20       .94       .39
                                                    =============  ========  ========  ========
</TABLE>


                                      -8-
<PAGE>
Item  2.
            MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

                       For the Six Months in the Periods Ended
                                June 30, 2003 and 2002

FORWARD-LOOKING  STATEMENT

This discussion may contain forward-looking statements that involve risks and
uncertainties. Although we believe the assumptions underlying the
forward-looking statements contained in the discussion are reasonable, any of
the assumptions could be inaccurate, and therefore no assurance can be made that
any of the forward-looking statements included in this discussion will be
accurate. Factors that could cause actual results to differ from results
discussed in forward-looking statements include, but are not limited to:
economic conditions (both generally and in the markets where the Company
operates); competition from other providers of the financial services offered by
the Company; government regulation and legislation; changes in interest rates;
and material unforeseen changes in the financial stability and liquidity of the
Company's credit customers; all of which are difficult to predict and which may
be beyond the control of the Company. We undertake no obligation to revise
forward-looking statements to reflect events or changes after the date of this
discussion or to reflect the occurrence of unanticipated events.

FINANCIAL  CONDITION

Total  assets  at  June  30, 2003, were $98 million representing a $17.2 million
(21.2%)  increase  from  December  31,  2002.  Deposits  increased $17.3 million
(26.2%) from December 31, 2002. Gross loans increased $11.9 million (23.3%). The
allowance  for loan losses at June 30, 2003, totaled $780 thousand, representing
1.2%  of  total  loans compared to the December 31, 2002, total of $675 thousand
1.3%  of  total  loans.  Cash  and  cash equivalents increased $2.1 million from
December  31,  2002.

The  Bank did not have any non-performing loans at June 30, 2003.  Nonperforming
loans  at  December 31, 2002 totaled $213,053.  The Bank transferred $192,704 of
these loans to other real estate and subsequently sold the properties.  No gains
or  losses  were  realized  on  the  sales.

During  the period ended June 30, 2003, the Company acquired land for future use
branch  expansion  at  a  cost  of  approximately  $400,000.

RESULTS  OF  OPERATIONS

Net  earnings  for the six months ended June 30, 2003, were $903,400 or $.97 per
diluted  share,  compared  to  $380,596, or $.41 per diluted share, for the same
period  in  2002.  Net  earnings  for  the  three  months  ended  June 30, 2003,
increased  $354,862  or  176%,  compared  to  the  same  period  in  2002.

For  the  six months ended June 30, 2003, the Bank's yield on earning assets was
5.64%  while  the  cost  of  interest  bearing liabilities was 2.20%.  While net
interest spread was 3.44%, net interest margin was 3.64%, a decrease of 39 basis
points  as  compared  to the same period in the prior year.  Net interest margin
decreased  slightly  resulting  from the reduced rate environment.  Net interest
income  in  the  aggregate  increased  $84,036 for the six months ended June 30,
2003,  over  the  same  period  for 2002 primarily due to the increase in loans.
Management  monitors the rate sensitivity of earning assets and interest-bearing
liabilities  over  the  entire  life of these instruments, but places particular
emphasis  on  the  first  year.

The  provision  for  loan  losses  at  June 30, 2003 was $130,000 as compared to
$75,000  in the same period in 2002, an increase of $55,000. The increase in the
provision  for  loan  losses is primarily due to the loan growth.  Based upon an
evaluation  of  the  loan portfolio, the Company believes the allowance for loan
losses  is  adequate  to  absorb  losses  on  existing  loans  that  may  become
uncollectible.

Other income increased $307,735 for the six months ended June 30, 2003, compared
to  the  same  period  for  2002.  The increase is primarily due to gains on the
sales  of  investment  securities  available  for  sale of $229,194.  Investment
securities  were  sold  to  fund  the  Bank's loan growth.  In addition, service
charges  on deposit accounts increased $23,319 as a result of an increase in the
number  of  deposit  accounts.


                                      -9-
<PAGE>
Other  expense  increased  $168,996  for  the  six  months  ended June 30, 2003,
compared to the same period for 2002.  The increase is primarily attributable to
an  increase  in  salaries  and  benefits  of  $119,848 and an increase in other
operating  expenses  of $56,271.  The increase in salaries and employee benefits
is  due  to  general  salary  increases  and the addition of a senior commercial
lender  and  a  consumer  lender.  The  increase  in other operating expenses is
primarily attributable to increases in legal fees of $31,000, accounting fees of
$13,000,  and  purchasing  of  printing  supplies  of  $13,000.

The  Bank  had  no  income  tax expense or benefit for the period ended June 30,
2002, as net operating losses were incurred and financial statement deferred tax
benefits  remained  unrecorded  as  their  realization  was heavily dependent on
future  taxable  income.  The Bank reversed the deferred tax valuation allowance
outstanding  at December 31, 2002 of $575,000 because it became more likely than
not  that  future  taxable income will be sufficient to realize the tax benefits
for deductible temporary differences including loss carry forwards.  For the six
months  ended  June  30,  2003,  the Company provided $220,000 for income taxes.

LIQUIDITY  AND  CAPITAL  RESOURCES
As  of  June  30,  2003,  the  liquidity  ratio,  as determined under guidelines
established  by  regulatory  authorities, was satisfactory to meet operating and
loan  funding  requirements.  The liquidity ratio (i.e. cash, short-term assets,
and  marketable  assets  divided  by  deposits  and  other  borrowings)  was
approximately  35%.  The  Company  will  continue  to monitor liquidity and make
adjustments  as  deemed  necessary.

Capital  ratios  at  June  30,  2003,  were adequate based on regulatory minimum
capital  requirements.  The  capital  ratios  of  the  consolidated  company
approximate  those  of  the  Bank.  The  following  tables  present  the  Bank's
regulatory  capital  position  at  June  30,  2003.
<TABLE>
<CAPTION>

RISK-BASED CAPITAL RATIOS
-------------------------
<S>                                                             <C>
  Tier 1 Capital, Actual                                        12.36%
  Tier 1 Capital minimum requirement                             4.00%
                                                                ------
    Excess                                                       8.36%
                                                                ======

  Total Capital, Actual                                         13.49%
  Total Capital minimum requirement                              8.00%
                                                                ------
    Excess                                                       5.49%
                                                                ======
LEVERAGE RATIO
--------------
  Tier 1 Capital to average total assets, ("Leverage Ratio")     9.70%
  Minimum leverage requirement                                   4.00%
                                                                ------
    Excess                                                       5.70%
                                                                ======
</TABLE>



These  ratios  may decline as asset growth continues, but are expected to exceed
the regulatory requirements.  Anticipated future earnings will assist in keeping
these  ratios  at  satisfactory  levels.

Management is not aware of any known trends, events or uncertainties, other than
the  effect  of events as described above, that will have or that are reasonably
likely  to  have  a  material  effect  on  the  liquidity,  capital resources or
operations.  Management  is also not aware of any current recommendations by the
regulatory authorities that would have such an effect, if they were implemented.


                                      -10-
<PAGE>
Item  3.  CONTROLS  AND  PROCEDURES

As  of  the end of the period covered by this report, the Company carried out an
evaluation,  under  the  supervision and with the participation of the Company's
management,  including the Company's Chief Executive Officer and Chief Financial
Officer,  of  the  effectiveness  of  the  design and operation of the Company's
disclosure  controls and procedures pursuant to Exchange Act Rule 13a-14.  Based
on  that  evaluation,  the Company's Chief Executive Officer and Chief Financial
Officer  concluded  that  the  Company's  disclosure controls and procedures are
effective  in  timely  alerting  them  to  material  information relating to the
Company  (including its consolidated subsidiary) that is required to be included
in  the  Company's periodic filings with the Securities and Exchange Commission.
There have been no significant changes in the Company's internal controls or, to
the  Company's knowledge, in other factors that could significantly affect those
internal controls subsequent to the date the Company carried out its evaluation,
and  there  have  been  no  corrective  actions  with  respect  to  significant
deficiencies  or  material  weaknesses.


                                      -11-
<PAGE>
PART  II.  OTHER  INFORMATION

                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.



Item  1.  Legal  Proceedings
          ------------------

          None

Item  2.  Changes  in  Securities  and  Use  of  Proceeds
          -----------------------------------------------

          None

Item  3.  Defaults  Upon  Senior  Securities
          ----------------------------------

          None

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

          (a)  The annual meeting of the stockholders of the Company was held on
               May 15, 2003.
          (b)  The following directors were elected at the meeting to serve for
               a one-year term:

               David J. Lance
               Thomas M. Kinnamon
               Ernest M. Acree
               Jim Griffin

          The shares represented at the meeting - 649,054 or 71% voted as
          follows:

                                                            Item  (b)
                                                        Number  of  Shares
                                                        ------------------
          For                                                 648,720
          Withheld  authority                                     334
          Against                                                  --
                                                              -------
                                                              649,054
                                                              =======
Item  5.  Other  Information
          ------------------

          None

Item  6.  Exhibits  and  Reports  on  Form  8-K
          -------------------------------------

          a)   Exhibits - The following exhibits are filed with this report.
               31.1 Certification of Chief Executive Officer pursuant to Section
                    302 of the Sarbanes-Oxley Act of 2002
               31.2 Certification of Chief Financial Officer pursuant to Section
                    302 of the Sarbanes-Oxley Act of 2002
               32.1 Certification Pursuant to 18 U.S.C. Section 1350 as Adopted
                    Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

          b)   None


                                      -12-
<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                   SIGNATURES


     Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the
Registrant  has  duly  caused  this  Report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.

                         NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.



                         By:  /s/David  J.  Lance
                              -------------------
                              David  J.  Lance
                              (Principal  Executive  Officer)


                         Date:  August  13,  2003
                                -----------------


                         By:  /s/Rhonda  C.  Massengill
                              -------------------------
                              Rhonda  C.  Massengill
                              (Principal  Financial  and  Accounting  Officer)


                         Date:  August  13,  2003
                                -----------------


                                      -13-
<PAGE>