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 September 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 November 14, 2003.


<PAGE>
<TABLE>
<CAPTION>

                         NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                                              INDEX


                                                   Page No.
                  ---------------------------------------------------------------------------
<S>      <C>      <C>                                                                          <C>
PART I            FINANCIAL INFORMATION

         Item 1.  Financial Statements

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

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

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

                  Consolidated Statements of Cash Flows (Unaudited) for the Nine
                  Months Ended September 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
</TABLE>


                                      -2-
<PAGE>
                         PART I.  FINANCIAL INFORMATION

Item  1.  Financial  Statements

<TABLE>
<CAPTION>
               NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.
                           Consolidated Balance Sheet
                               September 30, 2003
                                   (Unaudited)


<S>                                                           <C>
Cash and due from banks                                       $  2,543,827
Interest-bearing deposits in banks                                  13,558
Federal funds sold                                               1,500,000
                                                              -------------
     Cash and cash equivalents                                   4,057,385
Investment securities available for sale                        26,515,439
Other investments                                                  812,025
Loans                                                           67,838,384
  Less:   Allowance for loan losses                                896,072
                                                              -------------
     Loans, net                                                 66,942,312
Premises and equipment, net                                      2,337,806
Accrued interest receivable and other assets                     2,104,746
                                                              -------------
                                                              $102,769,713
                                                              =============
             Liabilities and Stockholders' Equity
------------------------------------------------------------
Liabilities:
  Deposits:
    Noninterest-bearing                                       $  5,318,610
    Interest-bearing                                            81,103,283
                                                              -------------
      Total deposits                                            86,421,893
                                                              -------------
Other borrowings                                                 5,000,000
Securities sold under repurchase agreements                      2,119,923
Accrued interest payable and other liabilities                     334,322
                                                              -------------
      Total liabilities                                         93,876,138
                                                              -------------
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                                               (502,824)
Accumulated other comprehensive income (loss)                      (21,002)
                                                              -------------
      Total stockholders' equity                                 8,893,575
                                                              -------------
                                                              $102,769,713
                                                              =============
</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 Nine Months Ended September 30, 2003 and 2002
                                                   (Unaudited)

                                                                     Three Months              Nine Months
                                                                        Ended                     Ended
                                                                  2003            2002        2003        2002
                                                            -----------------  ----------  ----------  ----------
<S>                                                         <C>                <C>         <C>         <C>
Interest income:
  Interest and fees on loans                                $      1,009,386     796,347   2,812,964   2,279,952
  Interest on investment securities                                  152,804     268,785     559,890     972,952
  Interest on federal funds sold                                       3,200      14,605      16,671      26,726
  Interest on deposits with other banks                                1,537          64       3,158         184
                                                            -----------------  ----------  ----------  ----------
    Total interest income                                          1,166,927   1,079,801   3,392,683   3,279,814
                                                            -----------------  ----------  ----------  ----------
Interest expense:
  Deposits                                                           412,210     403,562   1,156,626   1,225,477
  Other borrowings                                                    14,400      25,819      40,388      62,987
  Securities sold under repurchase agreements                          7,595           -      37,981           -
                                                            -----------------  ----------  ----------  ----------
    Total interest expense                                           434,205     429,381   1,234,995   1,288,464
                                                            -----------------  ----------  ----------  ----------
    Net interest income                                              732,722     650,420   2,157,688   1,991,350
Provision for loan losses                                            125,000      30,000     255,000     105,000
                                                            -----------------  ----------  ----------  ----------
    Net interest income after provision for loan losses              607,722     620,420   1,902,688   1,886,350
                                                            -----------------  ----------  ----------  ----------
Other operating income:
  Service charges on deposit accounts                                102,247      68,878     255,560     198,872
  Gain on sales of investment securities available for sale           26,760           -     255,954           -
  Other operating income                                              91,410      66,101     237,117     156,586
                                                            -----------------  ----------  ----------  ----------
    Total other income                                               220,417     134,979     748,631     355,458
                                                            -----------------  ----------  ----------  ----------
Other operating expense:
  Salaries and employee benefits                                     384,939     295,714   1,097,421     888,348
  Equipment and occupancy expense                                     91,507      86,316     272,026     253,590
  Capitalized loan origination costs                                 (45,279)    (36,652)   (158,549)   (129,554)
  Other operating expense                                            265,558     230,617     760,636     669,424
                                                            -----------------  ----------  ----------  ----------
    Total other operating expense                                    696,725     575,995   1,971,534   1,681,808
                                                            -----------------  ----------  ----------  ----------
    Earnings before income taxes                                     131,414     179,404     679,785     560,000
Income tax expense (benefit)                                          49,578           -    (305,451)          -
                                                            -----------------  ----------  ----------  ----------
    Net earnings                                            $         81,836     179,404     985,236     560,000
                                                            =================  ==========  ==========  ==========
Basic earnings per share                                    $            .09         .20        1.08         .61
                                                            =================  ==========  ==========  ==========
Diluted earnings per share                                  $            .09         .19        1.05         .61
                                                            =================  ==========  ==========  ==========
Dividends per share                                         $              -           -           -           -
                                                            =================  ==========  ==========  ==========
</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 Nine Months Ended September 30, 2003 and 2002
                                                           (Unaudited)




                                                                                       Three Months             Nine Months
                                                                                           Ended                   Ended
                                                                                     2003          2002        2003       2002
                                                                                --------------  -----------  ---------  ---------
<S>                                                                             <C>             <C>          <C>        <C>
Net earnings                                                                    $      81,836       179,404   985,236     560,000
Other comprehensive income (loss), net of tax:

  Unrealized holding (losses) gains on investment securities                         (291,078)      288,075  (264,924)    576,766
   available for sale
  Reclassification adjustment for gains on investment securities
   available for sale                                                                 (26,760)            -  (255,954)          -
                                                                                --------------  -----------  ---------  ---------
    Total other comprehensive (loss) income, before tax                              (317,838)      288,075  (520,878)    576,766
                                                                                --------------  -----------  ---------  ---------
Income taxes related to other comprehensive income (loss):

  Unrealized holding gains on investment securities available for sale                110,609             -   (84,390)          -
  Reclassification adjustment for gains on investment securities
   available for sale                                                                  10,169             -    97,262           -
                                                                                --------------  -----------  ---------  ---------

    Total income taxes related to other comprehensive income (loss)                   120,778             -    12,872           -
                                                                                --------------  -----------  ---------  ---------
    Total other comprehensive (loss) income, net of tax                              (197,060)      288,075  (508,006)    576,766
                                                                                --------------  -----------  ---------  ---------
    Comprehensive (loss) income                                                 $    (115,224)      467,479   477,230   1,136,766
                                                                                ==============  ===========  =========  =========
</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 Nine Months Ended September 30, 2003 and 2002
                                                    (Unaudited)



                                                                                           Nine Months Ended
                                                                                             September 30,
                                                                                            2003          2002
                                                                                       --------------  -----------
<S>                                                                                    <C>             <C>
Cash flows from operating activities:
  Net earnings                                                                         $     985,236      560,000
  Adjustments to reconcile net earnings to net cash provided by operating activities:
    Provision for loan losses                                                                255,000      105,000
    Deferred income tax benefit                                                             (305,451)           -
    Depreciation, amortization and accretion, net                                            317,011      161,977
    Gain on sale of investment securities                                                   (255,954)           -
  Change in:
    Accrued interest receivable and other assets                                             (82,593)     (84,086)
    Accrued interest payable and other liabilities                                           117,442       42,662
                                                                                       --------------  -----------
      Net cash provided by operating activities                                            1,030,691      785,553
                                                                                       --------------  -----------
Cash flows from investing activities:
  Proceeds from sales of investment securities available for sale                          8,445,208            -
  Proceeds from maturities and paydowns of investment securities available for sale       14,744,816   14,666,049
  Purchases of investment securities available for sale                                  (27,153,960)  (9,562,865)
  Purchases of other investments                                                            (190,600)     (41,500)
  Net change in loans                                                                    (17,113,005)  (7,540,297)
  Purchases of premises and equipment                                                       (593,442)     (56,041)
  Proceeds from sales of other real estate                                                    19,600            -
                                                                                       --------------  -----------
      Net cash used by investing activities                                              (21,841,383)  (2,534,654)
                                                                                       --------------  -----------
Cash flows from financing activities:
  Net change in deposits                                                                  20,371,965     (604,544)
  Net change in securities sold under repurchase agreements                               (2,110,212)   3,990,097
  Proceeds from Federal Home Loan Bank advances                                            3,000,000            -
  Net proceeds from sale of common stock                                                           -       12,000
                                                                                       --------------  -----------
      Net cash provided by financing activities                                           21,261,753    3,397,553
                                                                                       --------------  -----------
      Net change in cash and cash equivalents                                                451,061    1,648,452
Cash and cash equivalents at beginning of period                                           3,606,324    1,545,188
                                                                                       --------------  -----------
Cash and cash equivalents at end of period                                             $   4,057,385    3,193,640
                                                                                       ==============  ===========
Supplemental disclosures of cash flow information:
  Change in unrealized (loss) gain on securities available for sale                    $    (520,878)     576,766
  Loans transferred to other real estate owned                                         $     316,695            -
  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 nine-month period ended September
     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 result 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 nine
     months  ended  September  30,  2003  and  2002  are  as  follows:


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

              Notes to Consolidated Financial Statements, continued
                                   (Unaudited)

(4)     Earnings  Per  Share,  continued

<TABLE>
<CAPTION>
                                      For the three months          For the nine months
                                       Ended September 30,          Ended September 30,
                                   ----------------------------  ----------------------------
                                                         Per                           Per
                                      Net     Common    Share       Net     Common    Share
2003                               Earnings   Shares    Amount   Earnings   Shares    Amount
---------------------------------  ---------  -------  --------  ---------  -------  --------
<S>                                <C>        <C>      <C>       <C>        <C>      <C>
Earnings per common share          $  81,836  912,167  $   .09   $ 985,236  912,167  $  1.08
Effect of dilutive stock options           -   21,717        -           -   21,717     (.03)
                                   ---------  -------  --------  ---------  -------  --------
Diluted earnings per common share  $  81,836  933,884  $   .09   $ 985,236  933,884  $  1.05
                                   =========  =======  ========  =========  =======  ========
2002
---------------------------------
Earnings per common share          $ 179,404  912,167  $   .20   $ 560,000  912,156  $   .61
Effect of dilutive stock options           -   12,222     (.01)          -   12,222        -
                                   ---------  -------  --------  ---------  -------  --------
Diluted earnings per common share  $ 179,404  924,389  $   .19   $ 560,000  924,378  $   .61
                                   =========  =======  ========  =========  =======  ========
</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 nine months
                                                     Ended September 30,    Ended September 30,
                                                    ----------------------  -------------------
                                                        2003        2002      2003       2002
                                                    -------------  -------  ---------  --------
<S>                                                 <C>            <C>      <C>        <C>
Net earnings, as reported                           $      81,836  179,404  9985,236   560,000
Proforma stock-based compensation cost adjustments
  associated with previous grants vesting and
  cancellations, net of tax                                     -        -   (26,124)  (21,088)
                                                    -------------  -------  ---------  --------
Proforma net earnings                               $      81,836  179,404   959,112   538,912
                                                    =============  =======  =========  ========
Basic earnings per share, as reported               $         .09      .20      1.08       .61
Proforma stock-based compensation cost adjustments
  associated with previous grants vesting and
  cancellations, net of tax                                     -        -      (.03)     (.02)
                                                    -------------  -------  ---------  --------
Basic proforma earnings, per share                  $         .09      .20      1.05       .59
                                                    =============  =======  =========  ========
Diluted earnings per share, as reported             $         .09      .19      1.05       .61
Proforma stock-based compensation cost adjustments
  associated with previous grants vesting and
  cancellations, net of tax                                     -        -      (.02)     (.03)
                                                    -------------  -------  ---------  --------
Diluted proforma earnings, per share                $         .09      .19      1.03       .58
                                                    =============  =======  =========  ========
</TABLE>


                                      -8-
<PAGE>
Item  2.

            MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

                       For the Nine Months in the Periods Ended
                             September 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 September 30, 2003, were approximately $103 million representing
a  $21.9  million  (27.0%)  increase  from December 31, 2002. Deposits increased
$20.4  million  (30.8%)  from  December  31,  2002.  Gross loans increased $16.9
million  (33.3%).  The  allowance for loan losses at September 30, 2003, totaled
$896  thousand,  representing  1.32% of total loans compared to the December 31,
2002,  total  of  $675  thousand  1.3% of total loans. Cash and cash equivalents
increased  $451  thousand  from  December  31,  2002.

The  Bank  had  $335,138  in  non-performing  loans  at  September  30,  2003.
Nonperforming  loans  at  December  31, 2002 totaled $213,053.  During 2003, the
Bank  transferred $316,695 from loans to other real estate and subsequently sold
two  properties  for  $196,591.  No  gains or losses were realized on the sales.
The  Bank has $123,991 in other real estate at September 30, 2003.  The Bank did
not  have  any  other  real  estate  at  September  30,  2002.

During  the  second  quarter  of  2003, the Company acquired land for future use
branch  expansion  at  a  cost  of  approximately  $400,000.

During  the  period  ended  September  30, 2003, the Bank obtained $3 million in
Federal  Home  Loan  Bank  advances  to  fund  loan  growth.

RESULTS  OF  OPERATIONS

Net  earnings  for  the  nine  months ended September 30, 2002, were $985,236 or
$1.05  per  diluted  share, compared to $560,000, or $.61 per diluted share, for
the  same period in 2002.  Net earnings for the three months ended September 30,
2003,  decreased  $97,568  or  54.4%,  compared  to  the  same  period  in 2002.

For the nine months ended September 30, 2003, the Bank's yield on earning assets
was  5.69%  while the cost of interest bearing liabilities was 2.22%.  While net
interest spread was 3.47%, net interest margin was 3.71%, a decrease of 14 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 $166,338 for the nine months ended September
30,  2003,  over  the same period for the 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 September 30, 2003 was $255,000 as compared to
$105,000  in  the  same period in 2002, an increase of $150,000. The increase in
the  provision  for  loan losses is primarily due to 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,  but  there  can  be  no  assurance  that  this will be the case.


                                      -9-
<PAGE>
Other  income  increased  $393,173 for the nine months ended September 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 $255,954.  Investment
securities  were  sold  to  fund  the  Bank's loan growth.  In addition, service
charges  on deposit accounts increased $56,688 as a result of an increase in the
number of deposit accounts. The remaining increase is primarily due to increased
volume  of  mortgage  origination  fees.

Other  expense  increased $289,726 for the nine months ended September 30, 2003,
compared to the same period for 2002.  The increase is primarily attributable to
an  increase in salaries and benefits of $209,073.  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 remainder of the increase
is due to increases in other operating expenses including legal fees of $36,000,
accounting fees of $20,000, printing supplies of $13,000, and software licensing
fees  of  approximately  $20,000.

The Bank had no income tax expense or benefit for the period ended September 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
nine  months  ended September 30, 2003, the Company provided $270,000 for income
taxes.

LIQUIDITY  AND  CAPITAL  RESOURCES

As  of  September  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  33%.  The  Company  will  continue  to monitor liquidity and make
adjustments  as  deemed  necessary.

Capital  ratios at September 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  September  30,  2003.

<TABLE>
<CAPTION>
<S>                                                                   <C>
     RISK-BASED CAPITAL RATIOS
     -------------------------
          Tier 1 Capital, Actual                                      11.51%
          Tier 1 Capital minimum requirement                           4.00%
                                                                      ------
               Excess                                                  7.51%
                                                                      ======

          Total Capital, Actual                                       12.72%
          Total Capital minimum requirement                            8.00%
                                                                      ------
               Excess                                                  4.72%
                                                                      ======
     LEVERAGE RATIO
     --------------
          Tier 1 Capital to average total assets, ("Leverage Ratio")   8.66%
          Minimum leverage requirement                                 4.00%
                                                                      ------
               Excess                                                  4.66%
                                                                      ======
</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 15a-15.  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  changes in the Company's internal controls over financial
reporting  during  the  quarter  ended  September  30, 2003 that have materially
affected,  or  are  likely  to materially affect, the Company's internal control
over  financial  reporting.


                                      -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
          -----------------------------------------------------------

          None

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 Rule
                    15d-14(a)  of  the  Securities  and  Exchange  Act.

               31.2 Certification  of  Chief  Financial Officer pursuant to Rule
                    15d-14(a)  of  the  Securities  and  Exchange  Act.

                 32 Certification  pursuant  to Rule 15d-14(b) of the Securities
                    and  Exchange  Act.

          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:  November  14,  2003
                                      -------------------



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


                               Date:  November  14,  2003
                                      -------------------


                                      -13-
<PAGE>