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  JUNE 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 August 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 - JUNE 30, 2002. . . . . . . . . . .      3

          CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
            (LOSS) - THREE MONTHS ENDED JUNE 30, 2002 AND 2001
            AND SIX MONTHS ENDED JUNE 30, 2002 AND 2001 . . . . . . . . .      4

          CONSOLIDATED STATEMENTS OF CASH FLOWS - SIX
            MONTHS ENDED JUNE 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


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. . . . . . . . . . . . . . . . . . . . . . . . . . .     16


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

                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                            CONSOLIDATED BALANCE SHEET
                                  JUNE 30, 2002
                                   (UNAUDITED)

<S>                                                              <C>
                              ASSETS
                              ------
Cash and due from banks                                          $ 2,210,616
Interest-bearing deposits in banks                                     6,200
Federal funds sold                                                 6,200,000
Securities available-for-sale, at fair value                      22,179,733
Restricted equity securities, at cost                                332,200

Loans                                                             45,830,692
Less allowance for loan losses                                       609,313
                                                                 ------------
          Loans, net                                              45,221,379
                                                                 ------------

Premises and equipment                                             1,965,238
Other assets                                                       1,611,042
                                                                 ------------

          TOTAL ASSETS                                           $79,726,408
                                                                 ============

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

DEPOSITS
    Noninterest-bearing                                          $ 4,258,877
    Interest-bearing                                              62,206,335
                                                                 ------------
          TOTAL DEPOSITS                                          66,465,212
Securities sold under repurchase agreements                        5,252,031
Other liabilities                                                    187,318
                                                                 ------------
          TOTAL LIABILITIES                                       71,904,561
                                                                 ------------

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                                           (1,832,526)
    Accumulated other comprehensive income                           236,972
                                                                 ------------
          TOTAL STOCKHOLDERS' EQUITY                               7,821,847
                                                                 ------------

          TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $79,726,408
                                                                 ============

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
</TABLE>


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

                                CONSOLIDATED STATEMENTS OF OPERATIONS
                                 AND COMPREHENSIVE INCOME  (LOSS)
                             THREE MONTHS ENDED JUNE 30, 2002 AND 2001
                            AND SIX MONTHS ENDED JUNE 30, 2002 AND 2001
                                            (UNAUDITED)

                                                    THREE MONTHS ENDED        SIX MONTHS ENDED
                                                          JUNE 30,                JUNE 30,
                                                  ----------------------  ------------------------
                                                     2002        2001        2002         2001
                                                  -----------  ---------  -----------  -----------
<S>                                               <C>          <C>        <C>          <C>
INTEREST INCOME
    Loans                                         $  762,654   $734,298   $1,483,605   $1,469,986
    Taxable securities                               364,151    140,287      704,167      268,350
    Federal funds sold                                 7,680     73,609       12,121      147,592
    Deposits in banks                                  1,010        118        1,070          197
                                                  -----------  ---------  -----------  -----------
              TOTAL INTEREST INCOME                1,135,495    948,312    2,200,963    1,886,125
                                                  -----------  ---------  -----------  -----------

INTEREST EXPENSE
    Deposits                                         406,071    570,452      822,865    1,094,405
    Other borrowings                                  28,549      5,462       37,168       11,438
                                                  -----------  ---------  -----------  -----------
              TOTAL INTEREST EXPENSE                 434,620    575,914      860,033    1,105,843
                                                  -----------  ---------  -----------  -----------

              NET INTEREST INCOME                    700,875    372,398    1,340,930      780,282
PROVISION FOR LOAN LOSSES                             45,000     30,000       75,000       60,000
                                                  -----------  ---------  -----------  -----------
              NET INTEREST INCOME AFTER
                PROVISION FOR LOAN LOSSES            655,875    342,398    1,265,930      720,282
                                                  -----------  ---------  -----------  -----------

OTHER INCOME
    Service charges on deposit accounts               70,647     46,912      129,994      102,373
    Other operating income                            36,363     37,613       90,485       65,512
                                                  -----------  ---------  -----------  -----------
              TOTAL OTHER INCOME                     107,010     84,525      220,479      167,885
                                                  -----------  ---------  -----------  -----------

OTHER EXPENSES
    Salaries and employee benefits                   291,450    256,076      592,634      520,615
    Occupancy and equipment expenses                  85,809     65,763      167,274      134,024
    Capitalized loan origination costs               (47,859)   (42,634)     (92,902)     (75,203)
    Other operating expenses                         231,897    168,930      438,807      328,087
                                                  -----------  ---------  -----------  -----------
              TOTAL OTHER EXPENSES                   561,297    448,135    1,105,813      907,523
                                                  -----------  ---------  -----------  -----------

              INCOME (LOSS) BEFORE INCOME TAXES      201,588    (21,212)     380,596      (19,356)

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

              NET INCOME (LOSS)                      201,588    (21,212)     380,596      (19,356)
                                                  -----------  ---------  -----------  -----------

OTHER COMPREHENSIVE INCOME:
    Unrealized gains on securities
      available-for-sale arising during period       654,345     10,060      288,691       35,481
                                                  -----------  ---------  -----------  -----------

              COMPREHENSIVE INCOME (LOSS)         $  855,933   $(11,152)  $  669,287   $   16,125
                                                  ===========  =========  ===========  ===========

BASIC EARNINGS (LOSSES) PER SHARE                 $     0.22   $  (0.02)  $     0.42   $    (0.02)
                                                  ===========  =========  ===========  ===========

DILUTED EARNINGS (LOSSES) PER SHARE               $     0.22   $  (0.02)  $     0.41   $    (0.02)
                                                  ===========  =========  ===========  ===========

CASH DIVIDENDS PER SHARE                          $        -   $      -   $        -   $        -
                                                  ===========  =========  ===========  ===========

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
</TABLE>


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

                            CONSOLIDATED STATEMENTS OF CASH FLOWS
                          SIX MONTHS ENDED JUNE 30, 2002 AND 2001
                                        (UNAUDITED)


                                                                    2002          2001
                                                                ------------  -------------
<S>                                                             <C>           <C>
OPERATING ACTIVITIES
    Net income (loss)                                           $   380,596   $    (19,356)
    Adjustments to reconcile net income (loss)  to net cash
        provided by operating activities:
        Depreciation                                                106,766         84,177
        Provision for loan losses                                    75,000         60,000
        Increase in other assets                                    (71,352)       (28,846)
        Increase (decrease) in other liabilities                     (1,031)        34,714
                                                                ------------  -------------

              Net cash provided by operating activities             489,979        130,689
                                                                ------------  -------------

INVESTING ACTIVITIES
    Net increase in interest-bearing deposits in banks               (4,000)        (6,886)
    Purchases of securities available-for-sale                   (9,562,866)    (9,190,524)
    Proceeds from maturities of securities available-for-sale    12,898,723      3,038,759
    Purchases of restricted equity securities                       (41,500)       (30,350)
    Net increase in federal funds sold                           (6,200,000)    (2,490,000)
    Net increase in loans                                        (5,209,526)    (3,406,877)
    Purchase of premises and equipment                              (30,216)        (9,267)
                                                                ------------  -------------

              Net cash used in investing activities              (8,149,385)   (12,095,145)
                                                                ------------  -------------

FINANCING ACTIVITIES
    Net increase in deposits                                      3,218,925     12,854,191
    Net increase (decrease) in securities sold under
          repurchase agreements                                   5,096,109       (522,167)
    Net proceeds from sale of common stock                           12,000              -
                                                                ------------  -------------

              Net cash provided by financing activities           8,327,034     12,332,024
                                                                ------------  -------------

Net increase in cash and due from banks                             667,628        367,568

Cash and due from banks, beginning of period                      1,542,988      1,687,513
                                                                ------------  -------------

Cash and due from banks, end of period                          $ 2,210,616   $  2,055,081
                                                                ============  =============

SEE NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
</TABLE>


                                        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 six month periods ended
          June  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  June  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 25%.  As we grow,
we  will continue to monitor liquidity and make adjustments as deemed necessary.

At  June  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           9.74%     9.61%         4.00%
        Risk-based capital ratios:
          Core capital                   14.54     14.35          4.00
          Total capital                  15.71     15.52          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:

                                                 JUNE 30,
                                                   2002
                                                ----------
        Commitments to extend credit            $9,317,000
        Letters of credit                          355,000
                                                ----------
                                                $9,672,000
                                                ==========

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


                                        8
<PAGE>
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.

FINANCIAL  CONDITION

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

                                              JUNE 30,   DECEMBER 31,
                                                2002         2001
                                              ---------  -------------
                                               (DOLLARS IN THOUSANDS)
                                              ------------------------

Cash and due from banks                       $   2,217  $       1,545
Securities                                       22,512         25,518
Federal funds sold                                6,200              0
Loans, net                                       45,221         40,086
Premises and equipment                            1,965          2,042
Other assets                                      1,611          1,540
                                              ---------  -------------
                                              $  79,726  $      70,731
                                              =========  =============

Deposits                                      $  66,465  $      63,246
Securities sold under repurchase agreements       5,252            156
Other liabilities                                   187            188
Stockholders' equity                              7,822          7,141
                                              ---------  -------------
                                              $  79,726  $      70,731
                                              =========  =============

Our  total  assets grew by 13% for the first six months of 2002.  Deposit growth
of  $3.2  million,  increased  borrowings  under  repurchase  agreements of $5.1
million  and  net  maturities of securities of $3 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 69% at June 30, 2002 from 64% at December 31, 2001.  Our
total  equity has increased by $681,000 consisting of year-to-date net income of
$381,000,  proceeds  from the issuance of common stock of $12,000, and increased
unrealized  gains  on  securities  available-for-sale  of  $288,000.


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

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

                                     THREE MONTHS ENDED
                                            JUNE 30,
                                      2002         2001
                                   -----------  ----------
                                    (DOLLARS IN THOUSANDS)
                                   -----------------------

       Interest income             $     1,136  $     948
       Interest expense                    435        576
       Net interest income                 701        372
                                   -----------  ----------
       Provision for loan losses            45         30
       Other income                        107         85
       Other expense                       561        448
                                   -----------  ----------
       Net income (loss)           $       202  $     (21)
                                   ===========  ==========

                                       SIX MONTHS ENDED
                                           JUNE 30,
                                      2002         2001
                                   -----------  ----------
                                    (DOLLARS IN THOUSANDS)
                                   -----------------------
       Interest income             $     2,201  $   1,886
       Interest expense                    860      1,106
       Net interest income               1,341        780
                                   -----------  ----------
       Provision for loan losses            75         60
       Other income                        220        168
       Other expense                     1,105        907
                                   -----------  ----------
       Net income (loss)           $       381  $     (19)
                                   ===========  ==========

Our  net  interest  income has increased by $329,000 and $561,000 for the second
quarter  and  first  six  months  of 2002, respectively, as compared to the same
periods in 2001. Our net interest margin increased to 3.78% during the first six
months  of  2002  as compared to 3.32% 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  six  months of 2002 decreased significantly to 2.69% as compared to 5.51%
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 for both the second
quarter  and  first  six months of 2002 as compared to the same periods in 2001.
We provided $45,000 and $75,000 for loan losses for the second quarter and first
six  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.


                                       10
<PAGE>
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  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 1.33% at June 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>
                                                                                  JUNE 30,
                                                                         ------------------------
                                                                            2002         2001
                                                                         -----------  -----------
                                                                           (DOLLARS IN THOUSANDS)
                                                                         ------------------------
<S>                                                                      <C>          <C>

Nonaccrual loans                                                         $        39  $        72
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                                                           25            0
Interest income that would have been recorded on nonaccrual
  and restructured loans under original terms                                      1            3
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>
                                                                        SIX MONTHS ENDED
                                                                            JUNE 30,
                                                                    --------------------------
                                                                        2002          2001
                                                                    ------------  ------------
                                                                       (DOLLARS IN THOUSANDS)
                                                                    --------------------------
<S>                                                                 <C>           <C>

Average amount of loans outstanding                                 $    43,314   $    33,354
                                                                    ============  ============

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
  Installment                                                                 6             2
                                                                    ------------  ------------
                                                                             18            13
                                                                    ------------  ------------

Loans recovered
  Commercial and financial                                                   16             1
  Real estate mortgage                                                        0             0
  Installment                                                                 9             2
                                                                    ------------  ------------
                                                                             25             3
                                                                    ------------  ------------

Net charge-offs (recoveries)                                                 (7)           10
                                                                    ------------  ------------

Additions to allowance charged to operating expense during period            75            60
                                                                    ------------  ------------

Balance of allowance for loan losses at end of period               $       609   $       474
                                                                    ============  ============

Ratio of net loans charged off (recovered) during the period to
  average loans outstanding                                               (.02)%          .03%
                                                                    ============  ============
</TABLE>

Other  income  increased  by  $22,000  and $52,000 during the second quarter and
first six months of 2002, respectively, as compared to the same periods in 2001.
Year-to-date,  service  charges  on  deposit  accounts  increased by $28,000 and
income  recognized  on  bank owned life insurance policies increased by $27,000.

Other  expenses increased by $113,000 and $198,000 during the second quarter and
first six months of 2002, respectively, as compared to the same periods in 2001.
Salaries  and  employee  benefits  have increased due to the number of employees
increasing  to  24 as of June 30, 2002 as compared to 21 at June 30, 2001 and to
other  annual  salary  increases.  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>
                           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

          (a)  The annual meeting of the stockholders of the Company was held on
               May  16,  2002.

          (b)  The  following directors were elected at the meeting to serve for
               a  one-year  term:

               David J. Lance
               Thomas M. Kinnamon

          The shares represented at the meeting (754,460 shares or 82.71%) voted
          as  follows:

                                                         ITEM (B)
                                                           # OF
                                                          SHARES
                                                         ---------

                         For                               754,260
                         Withheld authority                    200
                         Against                                --
                                                         ---------

                         Total                             754,460
                                                         =========

ITEM 5.     OTHER INFORMATION

            None

                                       13
<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  18 U.S.C. Section 1350, as
                         Adopted  Pursuant  to Section 906 of the Sarbanes-Oxley
                         Act  of  2002

               99.2      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.

          (b)     Reports on Form 8-K:     None

* Indicates a management contract or compensatory plan or arrangement.


                                       14
<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:  August 12, 2002         BY: /s/ David J. Lance
       ---------------             ---------------------------------------------
                                   David J. Lance. President and C.E.O.
                                   (Principal Executive Officer)


DATE:  August 12, 2002         BY: /s/ Rhonda C. Massengill
       ---------------             ---------------------------------------------
                                   Rhonda C. Massengill, Chief Financial Officer
                                   (Principal Financial and Accounting Officer)


                                       15
<PAGE>