U.S. 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, 2002
                                         ------------------

[ ]  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 small business issuer as specified in its charter)

           Georgia                                        58-2585603
-------------------------------                       -------------------
(State or other jurisdiction of                          (IRS Employer
incorporation or organization)                        Identification No.)


                  350 W. BELMONT DRIVE, CALHOUN, GEORGIA 30701
         -----------------------------------------------------------------
                    (Address of principal executive offices)

                                 (706) 629-6499
                          ---------------------------
                          (Issuer's telephone number)

                                      N/A
      ---------------------------------------------------------------------
      (Former name, former address and former fiscal year, if changed since
                                  last report)

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that  the registrant was required to file such reports) and (2) has been
subject  to  such  filing  requirements  for  the  past  90  days.
Yes   X     No
     ---       ---


State the number of shares outstanding of each of the issuer's classes of common
equity,  as of November 1, 2002:  912,167; no par value.

Transitional  Small  Business  Disclosure  Format      Yes       No  X
                                                           ---      ---


<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.



================================================================================

                                      INDEX
                                      -----


                                                                          PAGE
                                                                          ----

PART I.  FINANCIAL INFORMATION

         ITEM 1.  FINANCIAL STATEMENTS

          CONSOLIDATED BALANCE SHEET - SEPTEMBER 30, 2002 . . . . . . . .    3

          CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
          - THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
          AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001 . . . . . . .    4

          CONSOLIDATED STATEMENTS OF CASH FLOWS - NINE
          MONTHS ENDED SEPTEMBER 30, 2002 AND 2001. . . . . . . . . . . .    5

          NOTES TO  CONSOLIDATED FINANCIAL STATEMENTS . . . . . . . . . .    6

         ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
         FINANCIAL CONDITION AND RESULTS OF OPERATIONS. . . . . . . . . .    7

         ITEM 3. CONTROLS AND PROCEDURES  . . . . . . . . . . . . . . . .   13


PART II. OTHER INFORMATION

         ITEM 1 - LEGAL PROCEEDINGS. . . . . . . . . . . . . . . . . . .    14

         ITEM 2 - CHANGE IN SECURITIES . . . . . . . . . . . . . . . . .    14

         ITEM 3 - DEFAULTS UPON SENIOR SECURITIES. . . . . . . . . . . .    14

         ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. .    14

         ITEM 5 - OTHER INFORMATION. . . . . . . . . . . . . . . . . . .    14

         ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K . . . . . . . . . . .    15

         SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . . . .    17


<PAGE>
<TABLE>
<CAPTION>
                         PART I - FINANCIAL INFORMATION
ITEM I.                       FINANCIAL  STATEMENTS

                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                            CONSOLIDATED BALANCE SHEET
                               SEPTEMBER 30, 2002
                                   (UNAUDITED)


                           ASSETS
                           ------
<S>                                                              <C>
Cash and due from banks                                          $ 1,685,882
Interest-bearing deposits in banks                                     7,758
Federal funds sold                                                 1,500,000
Securities available-for-sale, at fair value                      20,700,481
Restricted equity securities                                         332,200

Loans                                                             48,167,750
Less allowance for loan losses                                       645,600
                                                                 ------------
          Loans, net                                              47,522,150
                                                                 ------------
Premises and equipment                                             1,935,852
Other assets                                                       1,623,776
                                                                 ------------
          TOTAL ASSETS                                           $75,308,099
                                                                 ============

              LIABILITIES AND STOCKHOLDERS' EQUITY
              ------------------------------------

DEPOSITS
    Noninterest-bearing                                          $ 3,783,241
    Interest-bearing                                              58,858,502
                                                                 ------------
          TOTAL DEPOSITS                                          62,641,743
Securities sold under repurchase agreements                        4,146,019
Other liabilities                                                    231,011
                                                                 ------------
          TOTAL LIABILITIES                                       67,018,773
                                                                 ------------
COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY
    Preferred stock, no par value; 2,000,000 shares authorized;
       none issued or outstanding                                          -
    Common stock, no par value; 10,000,000 shares authorized;
       912,167 shares issued and outstanding                       9,417,401
    Accumulated deficit                                           (1,653,121)
    Accumulated other comprehensive income                           525,046
                                                                 ------------
          TOTAL STOCKHOLDERS' EQUITY                               8,289,326
                                                                 ------------
          TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $75,308,099
                                                                 ============
</TABLE>

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.


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

                                CONSOLIDATED STATEMENTS OF OPERATIONS
                                      AND COMPREHENSIVE INCOME
                           THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                          AND NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                             (UNAUDITED)

                                                     THREE MONTHS ENDED         NINE MONTHS ENDED
                                                        SEPTEMBER 30,             SEPTEMBER 30,
                                                  ------------------------  ------------------------
                                                     2002         2001         2002         2001
                                                  -----------  -----------  -----------  -----------
<S>                                               <C>          <C>          <C>          <C>
INTEREST INCOME
     Loans                                        $  796,347   $  755,981   $2,279,952   $2,225,968
    Taxable securities                               268,785      204,751      972,952      473,100
    Federal funds sold                                14,605       48,669       26,726      196,261
    Interest-bearing deposits in banks                    64           87          184          284
                                                  -----------  -----------  -----------  -----------
              TOTAL INTEREST INCOME                1,079,801    1,009,488    3,279,814    2,895,613
                                                  -----------  -----------  -----------  -----------

INTEREST EXPENSE
    Deposits                                         403,562      612,979    1,225,477    1,707,384
    Other borrowings                                  25,819        1,840       62,987       13,278
                                                  -----------  -----------  -----------  -----------
              TOTAL INTEREST EXPENSE                 429,381      614,819    1,288,464    1,720,662
                                                  -----------  -----------  -----------  -----------

              NET INTEREST INCOME                    650,420      394,669    1,991,350    1,174,951
PROVISION FOR LOAN LOSSES                             30,000       15,000      105,000       75,000
                                                  -----------  -----------  -----------  -----------
              NET INTEREST INCOME AFTER
                PROVISION FOR LOAN LOSSES            620,420      379,669    1,886,350    1,099,951
                                                  -----------  -----------  -----------  -----------

OTHER INCOME
    Service charges on deposit accounts               68,878       48,981      198,872      151,354
    Other operating income                            66,101       31,148      156,586       96,660
                                                  -----------  -----------  -----------  -----------
             TOTAL OTHER INCOME                      134,979       80,129      355,458      248,014
                                                  -----------  -----------  -----------  -----------


OTHER EXPENSES
    Salaries and employee benefits                   295,714      263,040      888,348      783,655
    Occupancy and equipment expenses                  86,316       68,229      253,590      202,253
    Capitalized loan origination costs               (36,652)     (42,309)    (129,554)    (117,512)
    Other operating expenses                         230,617      181,553      669,424      509,640
                                                  -----------  -----------  -----------  -----------
             TOTAL OTHER EXPENSES                    575,995      470,513    1,681,808    1,378,036
                                                  -----------  -----------  -----------  -----------

             INCOME (LOSS) BEFORE INCOME TAXES       179,404      (10,715)     560,000      (30,071)

INCOME TAX EXPENSE                                         -            -            -            -
                                                  -----------  -----------  -----------  -----------

             NET INCOME (LOSS)                       179,404      (10,715)     560,000      (30,071)
                                                  -----------  -----------  -----------  -----------
OTHER COMPREHENSIVE INCOME :
    Unrealized gains  on securities
      available-for-sale arising during period       288,075      145,303      576,766      180,785
                                                  -----------  -----------  -----------  -----------
             COMPREHENSIVE INCOME                 $  467,479   $  134,588   $1,136,766   $  150,714
                                                  ===========  ===========  ===========  ===========
BASIC EARNINGS (LOSSES) PER SHARE                 $     0.20   $    (0.01)  $     0.61   $    (0.03)
                                                  ===========  ===========  ===========  ===========
DILUTED EARNINGS (LOSESS) PER SHARE               $     0.19   $    (0.01)  $     0.60   $    (0.03)
                                                  ===========  ===========  ===========  ===========
CASH DIVIDENDS PER SHARE                          $        -   $        -   $        -   $        -
                                                  ===========  ===========  ===========  ===========
</TABLE>

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.


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

                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                       NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001
                                        (UNAUDITED)

                                                                    2002          2001
                                                                ------------  -------------
<S>                                                             <C>           <C>
OPERATING ACTIVITIES
    Net income (loss)                                           $   560,000   $    (30,071)
    Adjustments to reconcile net income (loss)  to net cash
        provided by operating activities:
        Depreciation                                                161,977        126,894
        Provision for loan losses                                   105,000         75,000
        Increase in other assets                                    (84,086)       (74,088)
        Increase in other liabilities                                42,662         54,247
                                                                ------------  -------------
              Net cash provided by operating activities             785,553        151,982
                                                                ------------  -------------

INVESTING ACTIVITIES
    Net increase in interest-bearing deposits in banks               (5,558)        (6,916)
    Purchases of securities available-for-sale                   (9,562,865)   (16,312,163)
    Proceeds from maturities of securities available-for-sale    14,666,049      4,876,880
    Purchases of restricted equity securities                       (41,500)       (26,200)
    Net increase in federal funds sold                           (1,500,000)    (3,010,000)
    Net increase in loans                                        (7,540,297)    (4,425,692)
    Purchase of premises and equipment                              (56,041)       (20,648)
    Purchase of life insurance policies                                   -       (950,000)
                                                                ------------  -------------
              Net cash used in investing activities              (4,040,212)   (19,874,739)
                                                                ------------  -------------

FINANCING ACTIVITIES
    Net increase (decrease)  in deposits                           (604,544)    22,284,462
    Net increase (decrease) in  repurchase agreements             3,990,097       (515,592)
    Net proceeds from sale of common stock                           12,000         72,000
                                                                ------------  -------------
              Net cash provided by financing activities           3,397,553     21,840,870
                                                                ------------  -------------

Net increase  in cash and due from banks                            142,894      2,118,113

Cash and due from banks, beginning of period                      1,542,988      1,687,513
                                                                ------------  -------------
Cash and due from banks, end of period                          $ 1,685,882   $  3,805,626
                                                                ============  =============
</TABLE>

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.


                                        5
<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.
                   NOTES TO CONSOLIDATED  FINANCIAL STATEMENTS
                                   (UNAUDITED)



NOTE 1.   BASIS  OF  PRESENTATION

          The  financial  information  for  North  Georgia  Community  Financial
          Partners  Inc.  (the "Company") included herein is unaudited; however,
          such information reflects all adjustments (consisting solely of normal
          recurring  adjustments)  which  are,  in  the  opinion  of management,
          necessary  for  a  fair  statement  of results for the interim period.

          The  results  of operations for the three and nine month periods ended
          September 30, 2002 are not necessarily indicative of the results to be
          expected  for  the  full  year.


NOTE 2.   CURRENT  ACCOUNTING  DEVELOPMENTS

          There  are  no  recent accounting pronouncements that have had, or are
          expected  to  have,  a  material  effect  on  the  Company's financial
          statements.


                                        6
<PAGE>
                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.


ITEM 2.   MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OF FINANCIAL CONDITION AND
          RESULTS  OF  OPERATIONS

The  following  is  management's  discussion and analysis of certain significant
factors  which  have  affected  the  financial position and operating results of
North  Georgia Community Financial Partners, Inc. and its bank subsidiary, North
Georgia National Bank, during the periods included in the accompanying financial
statements.

SPECIAL CAUTIONARY NOTICE REGARDING FORWARD LOOKING STATEMENTS

The  management's discussion and analysis which follows contains forward-looking
statements  in addition to historical information including, but not limited to,
statements  regarding  management's beliefs, current expectations, estimates and
projections  about  the  financial services industry, the economy, and about the
Company  in  general.  Such  forward-looking  statements  are subject to various
factors  that  could  cause  actual results to differ materially from historical
results  or  anticipated events, trends, or results.  These factors include, but
are  not  limited  to:

-    Increased competition with other financial institutions,
-    Lack of sustained growth in the economy of Gordon County,
-    Rapid fluctuations in interest rates,
-    The inability of the Company to maintain regulatory capital standards, and
-    Changes in the legislative and regulatory environment.

The  purpose  of  the following discussion is to address information relating to
our  financial  condition  and  results  of  operations  that may not be readily
apparent  from  a  review  of  the  financial  statements  and  the notes to the
financial  statements,  which  are  included  in  the  Form  10-QSB.

CRITICAL  ACCOUNTING  POLICIES

We  have  adopted  various  accounting  policies which govern the application of
accounting principles generally accepted in the United States in the preparation
of  our financial statements.  Our significant accounting policies are described
in  the  footnotes to the consolidated financial statements at December 31, 2001
as  filed  on  our  annual  report  on  Form  10-KSB.

Certain  accounting policies involve significant judgments and assumptions by us
which  have  a  material  impact  on  the  carrying  value of certain assets and
liabilities.  We  consider  these  accounting policies to be critical accounting
policies.  The  judgments  and  assumptions  we  use  are  based  on  historical
experience  and  other  factors,  which  we  believe  to be reasonable under the
circumstances.  Because  of the nature of the judgments and assumptions we make,
actual  results could differ from these judgments and estimates which could have
a  material  impact  on  our  carrying  values of assets and liabilities and our
results  of  operations.

We  believe  the  allowance for loan losses is a critical accounting policy that
requires the most significant judgments and estimates used in preparation of our
consolidated financial statements.  Refer to the portion of this discussion that
addresses  our  allowance for loan losses for a description of our processes and
methodology  for  determining  our  allowance  for  loan  losses.


                                        7
<PAGE>
LIQUIDITY  AND  CAPITAL  RESOURCES

As  of  September  30, 2002, our liquidity ratio, as determined under guidelines
established  by  regulatory  authorities,  was  satisfactory.  We  consider  our
liquidity  to  be adequate 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)  for the Bank was approximately 15.69%.  As we
grow,  we  will  continue  to  monitor  liquidity and make adjustments as deemed
necessary.

At  September  30,  2002,  our  capital ratios were adequate based on regulatory
minimum  capital  requirements.  The minimum capital requirements and the actual
capital ratios on a consolidated and bank-only basis are as follows:

                                                        REGULATORY
                                                         MINIMUM
                                       ACTUAL           REQUIREMENT
                            --------------------------  -----------
                            CONSOLIDATED      BANK
                            -------------  -----------  -----------
Leverage capital ratios            10.11%       10.01%        4.00%
Risk-based capital ratios:
  Core capital                     14.11        13.97         4.00
  Total capital                    15.28        15.14         8.00

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.

OFF-BALANCE  SHEET  RISK

We  are  a  party  to  financial  instruments with off-balance sheet risk in the
normal  course  of business to meet the financing needs of our customers.  These
financial  instruments  include commitments to extend credit and standby letters
of  credit.  Such  commitments  involve,  to varying degrees, elements of credit
risk  and  interest  rate risk in excess of the amount recognized in the balance
sheets.

Our exposure to credit loss in the event of nonperformance by the other party to
the financial instrument for commitments to extend credit and standby letters of
credit  is  represented  by the contractual amount of those instruments.  We use
the same credit policies in making commitments and conditional obligations as we
do  for  on-balance  sheet  instruments.  A  summary  of  our  commitments is as
follows:

                                                     SEPTEMBER 30,
                                                         2002
                                                     -------------

         Commitments to extend credit                $   8,610,000
         Letters of credit                                 369,000
                                                     -------------
                                                     $   8,979,000
                                                     =============

Commitments  to  extend  credit  are agreements to lend to a customer as long as
there  is no violation of any condition established in the contract.  Since many
of  the  commitments  are expected to expire without being drawn upon, the total
commitment  amounts  do not necessarily represent future cash requirements.  The
amount  of  collateral  obtained,  if  deemed  necessary by us upon extension of
credit,  is  based  on  our  credit  evaluation  of  the  customer.

Standby  letters of credit are conditional commitments issued by us to guarantee
the  performance  of  a  customer to a third party.  Those letters of credit are
primarily  issued  to  support  public  and private borrowing arrangements.  The
credit  risk  involved  in  issuing letters of credit is essentially the same as
that  involved  in  extending  loans  to  customers.  Collateral  is required in
instances  which  we  deem  necessary.


                                        8
<PAGE>
FINANCIAL CONDITION

Following is a summary of our balance sheets for the periods indicated:

<TABLE>
<CAPTION>
                                              SEPTEMBER 30,  DECEMBER 31,
                                                  2002          2001
                                             --------------  -------------
                                                (DOLLARS IN THOUSANDS)
                                             -----------------------------

<S>                                          <C>             <C>
Cash and due from banks                      $        1,694  $       1,545
Securities                                           21,032         25,518
Federal funds sold                                    1,500              0
Loans, net                                           47,522         40,086
Premises and equipment                                1,936          2,042
Other assets                                          1,624          1,540
                                             --------------  -------------
                                             $       75,308  $      70,731
                                             ==============  =============

Deposits                                     $       62,642  $      63,246
Securities sold under repurchase agreements           4,146            156
Other liabilities                                       231            188
Stockholders' equity                                  8,289          7,141
                                             --------------  -------------
                                             $       75,308  $      70,731
                                             ==============  =============
</TABLE>


Our  total  assets  grew  by 6.47% for the first nine months of 2002.  Increased
borrowings  under  repurchase  agreements of $3.99 million and net maturities of
securities  of  $5.1 million were invested in loans and federal funds sold.  The
amount  temporarily  invested  in  federal  funds  sold  provides  a  source for
anticipated  increased  loan volume.  Our loan to deposit ratio has increased to
76.89%  at  September  30, 2002 from 64% at December 31, 2001.  Our total equity
has  increased  by $1,148,000 consisting of year-to-date net income of $560,000,
proceeds  from the issuance of common stock of $12,000, and increased unrealized
gains  on  securities  available-for-sale  of  $576,000.


                                        9
<PAGE>
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001 AND
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2002 AND 2001

Following is a summary of our operations for the periods indicated.

<TABLE>
<CAPTION>
                                             THREE MONTHS ENDED
                                               SEPTEMMBER 30,
                                              2002        2001
                                           ----------  -----------
                                            (DOLLARS IN THOUSANDS)
                                           -----------------------

<S>                                        <C>         <C>
         Interest income                   $    1,079  $    1,009
         Interest expense                         429         615
                                           ----------  -----------
         Net interest income                      650         394
         Provision for loan losses                 30          15
         Other income                             135          80
         Other expense                            576         470
                                           ----------  -----------
         Net income (loss)                 $      179  $      (11)
                                           ==========  ===========
</TABLE>

<TABLE>
<CAPTION>
                                              NINE MONTHS ENDED
                                                SEPTEMBER 30,
                                              2002        2001
                                           ----------  -----------
                                           (DOLLARS IN THOUSANDS)
                                           -----------------------
<S>                                        <C>         <C>
         Interest income                   $    3,280  $    2,896
         Interest expense                       1,288       1,721
                                           ----------  -----------
         Net interest income                    1,992       1,175

         Provision for loan losses                105          75
         Other income                             355         248
         Other expense                          1,682       1,378
                                           ----------  -----------
         Net income (loss)                 $      560  $      (30)
                                           ==========  ===========
</TABLE>

Our  net  interest  income  has increased by $256,000 and $817,000 for the third
quarter  and  first  nine  months of 2002, respectively, as compared to the same
periods  in  2001.  Our  net interest margin increased to 3.73% during the first
nine  months  of 2002 as compared to 3.12% for the same period in 2001 and 3.14%
for  the  entire  year  of  2001.  The  increase  in  net interest income is due
primarily  to  the  increased  volume of average loans.  The increase in the net
interest margin is due primarily to the repricing of our deposits as the cost of
funds  for  the  first  nine  months of 2002 decreased significantly to 2.72% as
compared  to  5.28% for the same period in 2001 and 4.72% for the entire year of
2001.

The  provision  for  loan  losses  has increased by $15,000 and $30,000 for  the
third  quarter  and first nine months of 2002, respectively,  as compared to the
same  periods in 2001.  We provided $30,000 and $105,000 for loan losses for the
third  quarter and first nine months of 2002, respectively, due primarily to the
loan  growth  and  our  assessment  of  the inherent risk in the loan portfolio.
Based  upon  our  evaluation of the loan portfolio, we believe the allowance for
loan  losses  to  be adequate to absorb losses on existing loans that may become
uncollectible. Our methodology used in determining the adequacy of the allowance
for  loan  losses  is  based  upon  a  risk rating system in which all loans are
assigned  a  loan  grade.  Each  loan  grade is assigned an allowance percentage
determined  based upon our experience specifically and the historical experience
of  the  banking  industry  generally.  Loan classifications are then subject to
periodic  review  by  the  responsible  lending officer and by senior management
based upon their judgment, our loan loss experience, current economic conditions


                                       10
<PAGE>
that  may  affect  the  borrower's  ability  to  repay, lender requirements, the
underlying  collateral value of the loans and other appropriate information.  We
rely  predominantly  on  this ongoing review of the loan portfolio to assess the
risk  characteristics  of  the  portfolio  in  the  aggregate  and  to determine
adjustments,  if  any,  to  our  allowance  for  losses.  Based upon our ongoing
review,  we  may  identify  impaired  loans.  When  we  identify a loan as being
impaired,  the  allowance  for loan losses is increased if we determine that the
amount  of  impairment is in excess of the allowance amount determined under our
loan  grading  system.  The  allowance  for loan losses as a percentage of total
loans was 1.34% at September 30, 2002 as compared to 1.30% at December 31, 2001.

Information  with  respect  to nonaccrual, past due and restructured loans is as
follows:

<TABLE>
<CAPTION>
                                                                           SEPTEMBER 30,
                                                                       ----------------------
                                                                          2002       2001
                                                                       ----------  ----------
                                                                       (DOLLARS IN THOUSANDS)
<S>                                                                     <C>        <C>
Nonaccrual loans                                                        $      46  $      57
Loans contractually past due ninety days or more as to interest
   or principal payments and still accruing                                     0          0
Restructured loans                                                              0          0
Potential problem loans                                                         0          0
Interest income that would have been recorded on nonaccrual
   and restructured loans under original terms                                  2          5
Interest income that was recorded on nonaccrual and restructured loans          0          0
</TABLE>


Potential  problem loans are defined as loans about which we have serious doubts
as  to  the  ability  of  the borrower to comply with the present loan repayment
terms  and which may cause the loan to be placed on nonaccrual status, to become
past  due  more  than  ninety  days,  or  to  be  restructured.

It  is  our  policy  to  discontinue the accrual of interest income when, in the
opinion  of  management, collection of interest becomes doubtful. We discontinue
the  accrual  of  interest  when (1) there is a significant deterioration in the
financial condition of the borrower and full repayment of principal and interest
is  not expected and (2) the principal or interest is more than ninety days past
due,  unless  the  loan  is  both well-secured and in the process of collection.

Loans  classified  for  regulatory  purposes  as loss, doubtful, substandard, or
special  mention that have not been included in the table above do not represent
or  result from trends or uncertainties which management reasonably expects will
materially  impact  future  operating  results,  liquidity or capital resources.
These  classified loans do not represent material credits about which management
is aware of any information which causes management to have serious doubts as to
the  ability  of  such  borrowers  to  comply  with  the  loan  repayment terms.


                                       11
<PAGE>
Information  regarding  certain  loans  and  allowance  for loan loss data is as
follows:

<TABLE>
<CAPTION>
                                                                       NINE MONTHS ENDED
                                                                          SEPTEMBER 30,
                                                                    -----------------------
                                                                       2002        2001
                                                                    ----------  -----------
                                                                     (DOLLARS IN THOUSANDS)
                                                                    -----------------------
<S>                                                                 <C>         <C>
Average amount of loans outstanding                                 $  47,051   $   34,602
                                                                    ==========  ===========
Balance of allowance for loan losses at beginning of period         $     527   $      424
                                                                    ----------  -----------
Loans charged off
  Commercial and financial                                                  6           11
  Real estate mortgage                                                      6            0
                                                                            7           36
                                                                    ----------  -----------
                                                                           19           47
                                                                    ----------  -----------
Loans recovered
  Commercial and financial                                                 18            2
  Real estate mortgage                                                      0            0
  Installment                                                              15           10
                                                                    ----------  -----------
                                                                           33           12
                                                                    ----------  -----------

Net charge-offs (recoveries)                                              (14)          35
                                                                    ----------  -----------
Additions to allowance charged to operating expense during period         105           75
                                                                    ----------  -----------
Balance of allowance for loan losses at end of period               $     646   $      464
                                                                    ==========  ===========
Ratio of net loans charged off (recovered) during the period to
  average loans outstanding                                             (.03%)         .10%
                                                                    ==========  ===========
</TABLE>

Other  income  increased  by  $55,000  and $107,000 during the third quarter and
first  nine  months  of  2002,  respectively, as compared to the same periods in
2001.  Year-to-date,  service  charges  on deposit accounts increased by $48,000
and  income  recognized  on  bank  owned  life  insurance  policies increased by
$27,000.

Other  expenses  increased by $106,000 and $304,000 during the third quarter and
first  nine  months  of  2002,  respectively, as compared to the same periods in
2001.  Salaries  and  employee  benefits  have  increased  due  to annual salary
increases  and  related  payroll  costs.  Occupancy  and  equipment  and  other
operating  expenses  have  increased  due  to  our  overall  growth of the bank.

We  have  recorded  no  income  tax  provisions  due to cumulative net operating
losses.

We  are  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  our  liquidity,  capital resources or
operations.  We  are  also  not  aware  of  any  current  recommendations by the
regulatory  authorities  which,  if  they  were  implemented, would have such an
effect.


                                       12
<PAGE>

ITEM 3. CONTROLS AND PROCEDURES

Within  90  days  prior  to  the date of 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
upon  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  subsidiaries)  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.


                                       13
<PAGE>
                           PART II - OTHER INFORMATION


ITEM 1.   LEGAL PROCEEDINGS

          There are no material pending legal proceedings to which the Company
          is a party or of which any of its property is the subject.

ITEM 2.   CHANGE IN SECURITIES AND USE OF PROCEEDS

          (a)  not applicable
          (b)  not applicable
          (c)  not applicable
          (d)  not applicable

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES

          Not applicable

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

          None

ITEM 5.   OTHER INFORMATION

          None


                                       14
<PAGE>
ITEM 6.   EXHIBITS  AND  REPORTS  ON  FORM  8-K.

          (a)  Exhibits

               Exhibit Number          Exhibit
               --------------          -------

               2.1       Agreement and Plan of Share Exchange(1)

               3.1       Articles of Incorporation(1)

               3.2       Bylaws(1)

               4.1       Instruments Defining the Rights of Security Holders.
                         See Articles of Incorporation at Exhibit 3.1 hereto and
                         Bylaws at Exhibit 3.2 hereto.

               10.1      Reserved

               10.2*     Employment Agreement, dated as of September 22, 1999,
                         between North Georgia National Bank and David J.
                         Lance.(2)

               10.3*     Addendum to Employment Agreement, dated November 16,
                         1999, between North Georgia National Bank and David J.
                         Lance.(2)

               10.4*     Stock Purchase Agreement, dated September 22, 1999,
                         between North Georgia National Bank and David J.
                         Lance.(2)

               10.5*     North Georgia Community Financial Partners, Inc. 2000
                         Stock Incentive Plan; form of Incentive Stock Award;
                         form of Non-Qualified Stock Option Award. (2)

               10.6*     Executive Supplemental Retirement Agreement, dated as
                         of September 25, 2001 by and between North Georgia
                         National Bank and David J. Lance. (3)

               99.1      Certification Pursuant to Section 302 of the
                         Sarbanes-Oxley Act of 2002

               99.2      Certification Pursuant to Section 302 of the
                         Sarbanes-Oxley Act of 2002

               99.3      Certification Pursuant to 18 U.S.C. Section 1350, as
                         Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                         Act of 2002

               99.4      Certification Pursuant to 18 U.S.C. Section 1350, as
                         Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                         Act of 2002

               ------------------------
               (1)  Incorporated herein by reference to exhibit of same number
                    in the Company's Registration Statement on Form S-4, File
                    No. 333-34908, declared effective by the SEC on June 9,
                    2000.
               (2)  Incorporated  herein  by reference to exhibit of same number
                    in  the  Company's Annual Report on Form 10-KSB for the year
                    ended  December 31, 2001, File No. 333-34908, filed with the
                    SEC  on  March  30,  2001.
               (3)  Incorporated  here by reference to exhibit of same number in
                    the  Company's  Quarterly  Report  on  Form  10-QSB  for the
                    quarter  ended September 30, 2001, File No. 333-34908, filed
                    with  the  SEC  on  November  13,  2001.


                                       15
<PAGE>
               (b)  Reports on Form 8-K: None

*    Indicates a management contract or compensatory plan or arrangement.


                                       16
<PAGE>
                                   SIGNATURES



          In  accordance  with  the  requirements  of  the  Exchange  Act,  the
registrant  caused  this  report  to be signed on its behalf by the undersigned,
thereunto  duly  authorized.


                               North Georgia Community Financial Partners, Inc.
                                   (Registrant)



Date:  November 12, 2002       By: \s\ David J. Lance
       -------------------         ------------------
                                   David J. Lance. President and C.E.O.
                                   (Principal Executive Officer)


Date:  November 12, 2002       By: \s\  Rhonda C. Massengill
       -------------------         -------------------------
                                   Rhonda C. Massengill, Chief Financial Officer
                                   (Principal  Financial and Accounting Officer)


                                       17
<PAGE>