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, 2001
                                         -------------

 [ ]     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, 2001:   904,167; 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, 2001 . . . . . . . . . .     3

            CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
              (LOSS) - THREE MONTHS ENDED JUNE 30, 2001 AND 2000
              AND SIX MONTHS ENDED JUNE 30, 2001 AND 2000. . . . . . . . .     4

            CONSOLIDATED  STATEMENTS OF CASH FLOWS - SIX
              MONTHS ENDED JUNE 30, 2001 AND 2000. . . . . . . . . . . . .     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 . . . . . . . . . . . . . . . . . . .    13

          ITEM 2 - CHANGE IN SECURITIES. . . . . . . . . . . . . . . . . .    13

          ITEM 3 - DEFAULTS UPON SENIOR SECURITIES . . . . . . . . . . . .    13

          ITEM 4 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS . .    13

          ITEM 5 - OTHER INFORMATION . . . . . . . . . . . . . . . . . . .    13

          ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K. . . . . . . . . . . . 13-14

          SIGNATURES . . . . . . . . . . . . . . . . . . . . . . . . . . .    15


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

                NORTH GEORGIA COMMUNITY FINANCIAL PARTNERS, INC.

                            CONSOLIDATED BALANCE SHEET
                                  JUNE 30, 2001
                                   (UNAUDITED)


                    ASSETS
                    ------
<S>                                                              <C>

Cash and due from banks                                          $ 2,055,081
Interest-bearing deposits in banks                                    10,738
Federal funds sold                                                 7,205,000
Securities available-for-sale, at fair value                      12,262,556

Loans                                                             35,394,753
Less allowance for loan losses                                       474,493
                                                                 ------------
          Loans, net                                              34,920,260
                                                                 ------------

Premises and equipment                                             2,049,832
Other assets                                                         475,242
                                                                 ------------

          TOTAL ASSETS                                           $58,978,709
                                                                 ============


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

DEPOSITS
    Noninterest-bearing                                          $ 5,169,290
    Interest-bearing                                              46,333,891
                                                                 ------------
          TOTAL DEPOSITS                                          51,503,181
Federal funds purchased                                              141,139
Other liabilities                                                    207,009
                                                                 ------------
          TOTAL LIABILITIES                                       51,851,329
                                                                 ============

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;
       904,167 shares issued and outstanding                       9,321,401
    Accumulated deficit                                           (2,274,478)
    Accumulated other comprehensive income                            80,457
                                                                 ------------
          TOTAL STOCKHOLDERS' EQUITY                               7,127,380
                                                                 ------------

          TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY             $58,978,709
                                                                 ============
</TABLE>

See Notes to Consolidated Financial Statements.


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

                                 CONSOLIDATED STATEMENTS OF OPERATIONS
                                  AND COMPREHENSIVE INCOME  (LOSS)
                              THREE MONTHS ENDED JUNE 30, 2001 AND 2000
                             AND SIX MONTHS ENDED JUNE 30, 2001 AND 2000
                                             (UNAUDITED)


                                                       THREE MONTHS ENDED      SIX MONTHS ENDED
                                                            JUNE 30,               JUNE 30,
                                                     ---------------------  -----------------------
                                                       2001        2000        2001         2000
                                                     ---------  ----------  -----------  ----------
<S>                                                  <C>        <C>         <C>          <C>
INTEREST INCOME
    Loans                                            $776,932   $ 516,706   $1,545,189   $  922,846
    Taxable securities                                140,287      63,263      268,350      103,896
    Federal funds sold                                 73,609       7,991      147,592       35,020
    Deposits in banks                                     118           -          197            -
                                                     ---------  ----------  -----------  ----------
              TOTAL INTEREST INCOME                   990,946     587,960    1,961,328    1,061,762
                                                     ---------  ----------  -----------  ----------

INTEREST EXPENSE
    Deposits                                          570,452     253,727    1,094,405      464,502
    Other borrowings                                    5,462      13,021       11,438       19,443
                                                     ---------  ----------  -----------  ----------
              TOTAL INTEREST EXPENSE                  575,914     266,748    1,105,843      483,945
                                                     ---------  ----------  -----------  ----------

              NET INTEREST INCOME                     415,032     321,212      855,485      577,817
PROVISION FOR LOAN LOSSES                              30,000      30,000       60,000       90,000
                                                     ---------  ----------  -----------  ----------
              NET INTEREST INCOME AFTER
                PROVISION FOR LOAN LOSSES             385,032     291,212      795,485      487,817
                                                     ---------  ----------  -----------  ----------

OTHER INCOME
    Service charges on deposit accounts                46,912      43,678      102,373       75,997
    Other operating income                             37,613       9,271       65,512       12,682
                                                     ---------  ----------  -----------  ----------
              TOTAL OTHER INCOME                       84,525      52,949      167,885       88,679
                                                     ---------  ----------  -----------  ----------

OTHER EXPENSES
    Salaries and employee benefits                    256,076     237,987      520,615      454,877
    Occupancy and equipment expenses                   65,763      62,395      134,024      122,386
    Other operating expenses                          168,930     204,315      328,087      380,779
                                                     ---------  ----------  -----------  ----------
              TOTAL OTHER EXPENSES                    490,769     504,697      982,726      958,042
                                                     ---------  ----------  -----------  ----------

              LOSS BEFORE INCOME TAXES                (21,212)   (160,536)     (19,356)    (381,546)

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

              NET LOSS                                (21,212)   (160,536)     (19,356)    (381,546)
                                                     ---------  ----------  -----------  ----------

OTHER COMPREHENSIVE INCOME (LOSS):
    Unrealized gains (losses) losses on securities
      available-for-sale arising during period         10,060     (14,119)      35,481      (17,365)
                                                     ---------  ----------  -----------  ----------

              COMPREHENSIVE INCOME (LOSS)            $(11,152)  $(174,655)  $   16,125   $ (398,911)
                                                     =========  ==========  ===========  ==========

BASIC AND DILUTED LOSSES PER SHARE                   $  (0.02)  $   (0.18)  $    (0.02)  $    (0.43)
                                                     =========  ==========  ===========  ==========

WEIGHTED AVERAGE SHARES OUTSTANDING (BASIC
    AND DILUTED)                                      904,167     902,917      904,167      896,366
                                                     =========  ==========  ===========  ==========

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
                            SIX MONTHS ENDED JUNE 30, 2001 AND 2000
                                          (UNAUDITED)


                                                                       2001           2000
                                                                   -------------  -------------
<S>                                                                <C>            <C>
OPERATING ACTIVITIES
    Net loss                                                       $    (19,356)  $   (381,546)
    Adjustments to reconcile net loss  to net cash
        provided by (used in) operating activities:
        Depreciation                                                     84,177         78,167
        Provision for loan losses                                        60,000         90,000
        Increase in other assets                                        (28,846)      (125,297)
        Increase in other liabilities                                    34,714         29,030
                                                                   -------------  -------------

              Net cash provided by (used in) operating activities       130,689       (309,646)
                                                                   -------------  -------------

INVESTING ACTIVITIES
    Net increase in interest-bearing deposits in banks                   (6,886)             -
    Purchases of securities available-for-sale                       (9,220,874)    (3,011,950)
    Proceeds from maturities of securities available-for-sale         3,038,759              -
    Net (increase) decrease in federal funds sold                    (2,490,000)     1,100,000
    Net increase in loans                                            (3,406,877)    (8,054,409)
    Purchase of premises and equipment                                   (9,267)       (59,926)
                                                                   -------------  -------------

              Net cash used in investing activities                 (12,095,145)   (10,026,285)
                                                                   -------------  -------------

FINANCING ACTIVITIES
    Net increase in deposits                                         12,854,191     10,193,960
    Net increase (decrease) in federal funds purchased                 (522,167)       508,383
    Net proceeds from sale of common stock                                    -        353,243
                                                                   -------------  -------------

              Net cash provided by financing activities              12,332,024     11,055,586
                                                                   -------------  -------------

Net increase in cash and due from banks                                 367,568        719,655

Cash and due from banks, beginning of period                          1,687,513      1,541,141
                                                                   -------------  -------------

Cash and due from banks, end of period                             $  2,055,081   $  2,260,796
                                                                   =============  =============

</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 six month periods ended
          June  30,  2001  are  not  necessarily indicative of the results to be
          expected  for  the  full  year.


NOTE 2.   CURRENT  ACCOUNTING  DEVELOPMENTS

          In June 1998, the Financial Accounting Standards Board issued SFAS No.
          133,  "Accounting  for Derivative Instruments and Hedging Activities".
          The  effective  date  of  this  statement was deferred by SFAS No. 137
          until  fiscal  years  beginning  after  June  15,  2000.  However, the
          statement  permitted  early adoption as of the beginning of any fiscal
          quarter  after  its  issuance.  The  Company  adopted  this  statement
          effective  January  1,  2001.  SFAS  No.  133  requires the Company to
          recognize  all  derivatives  as  either  assets  or liabilities in the
          balance  sheet  at fair value. For derivatives that are not designated
          as  hedges,  the  gain  or  loss must be recognized in earnings in the
          period  of  change.  For  derivatives  that  are designated as hedges,
          changes  in  the fair value of the hedged assets, liabilities, or firm
          commitments  must  be  recognized  in  earnings or recognized in other
          comprehensive  income until the hedged item is recognized in earnings,
          depending  on  the  nature  of the hedge. The ineffective portion of a
          derivative's  change  in  fair  value  must  be recognized in earnings
          immediately.  The  adoption  of SFAS No. 133 had no material effect on
          the  Company's  operations  or  financial  position.

          There  are no other 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.


                                        7
<PAGE>
          LIQUIDITY  AND  CAPITAL  RESOURCES

          As  of  June  30,  2001,  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 23%. As we grow, we will
          continue  to  monitor  liquidity  and  make  adjustments  as  deemed
          necessary.

          At June 30, 2001, 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:

                                                 ACTUAL          REGULATORY
                                          ---------------------    MINIMUM
                                          CONSOLIDATED    BANK   REQUIREMENT
                                          ------------  -------  -----------

              Leverage capital ratios         13.19%     13.19%      4.00%
              Risk-based capital ratios:
                Core capital                  17.82      17.81       4.00
                Total capital                 19.01      19.01       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.


                                        8
<PAGE>
FINANCIAL CONDITION

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

<TABLE>
<CAPTION>
                             JUNE 30,     DECEMBER 31,
                               2001          2000
                          -------------  -------------
                             (DOLLARS IN THOUSANDS)
                          ----------------------------
<S>                       <C>            <C>
Cash and due from banks   $       2,066  $       1,692
Securities                       12,263          6,045
Federal funds sold                7,205          4,715
Loans, net                       34,920         31,573
Premises and equipment            2,050          2,125
Other assets                        475            446
                          -------------  -------------
                          $      58,979  $      46,596
                          =============  =============

Deposits                  $      51,503  $      38,649
Federal funds purchased             141            664
Other liabilities                   208            172
Stockholders' equity              7,127          7,111
                          -------------  -------------
                          $      58,979  $      46,596
                          =============  =============
</TABLE>


Our  total  assets  grew  by  27%  for  the first six months of 2001.  Continued
deposit  growth,  net  of  decreased  federal  funds  purchased  positions,  of
$12,331,000  was  invested  in  securities,  loans  and  federal  funds sold. We
purposefully  slowed  our rate of loan growth as compared to 2000 to insure that
we  continue  to  adequately  service  and  monitor the loan portfolio.  Current
federal  funds  sold  and  securities  balances  should  provide  the  funds for
increased  loan  growth  rates  in  the  future.  Our  loan to deposit ratio has
decreased  to  69%  at  June  30, 2001 from 83% at December 31, 2000.  Our total
equity  has  increased  by  $16,000  as increased unrealized gains on securities
available-for-sale  of  $35,000  have  been  offset  by  year-to-date  losses of
$19,000.


                                        9
<PAGE>
RESULTS  OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2001 AND 2000 AND FOR
THE  SIX  MONTHS  ENDED  JUNE  30,  2001  AND  2000

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

<TABLE>
<CAPTION>
                             THREE MONTHS ENDED
                                  JUNE  30,
                               2001       2000
                           ----------  ----------
                           (DOLLARS IN THOUSANDS)
                           ----------------------
<S>                        <C>         <C>
Interest income            $     991   $     588
Interest expense                 576         267
Net interest income              415         321
                           ----------  ----------
Provision for loan losses         30          30
Other income                      85          53
Other expense                    491         505
                           ----------  ----------
Net loss                   $     (21)  $    (161)
                           ==========  ==========
</TABLE>
<TABLE>
<CAPTION>
                              SIX MONTHS ENDED
                                  JUNE  30,
                               2001       2000
                           ----------  ----------
                           (DOLLARS IN THOUSANDS)
                           ----------------------
<S>                        <C>         <C>
Interest income            $   1,961   $   1,062
Interest expense               1,106         484
Net interest income              855         578
                           ----------  ----------
Provision for loan losses         60          90
Other income                     168          88
Other expense                    982         958
                           ----------  ----------
Net loss                   $     (19)  $    (382)
                           ==========  ==========
</TABLE>

Our  net  interest  income  has increased by $94,000 and $277,000 for the second
quarter  and  first  six  months  of 2001, respectively, as compared to the same
periods  in  2000.  Our  net interest margin decreased to 3.64% during the first
six  months  of  2001 as compared to 4.65% for the same period in 2000 and 4.63%
for  the  entire  year  of  2000.  The  increase  in  net interest income is due
primarily  to  the  increased  volume of average loans.  The decrease in the net
interest margin is due to the repricing of variable rate loans as the prime rate
has  continued  to  drop.  The  repricing  of  these  loans  at  lower rates has
decreased  margins  because  not  all  of  our  interest-bearing deposits can be
repriced  as quickly.  As deposits mature and are repriced, we expect to see our
net  interest  margin  increase.

The  provision for loan losses was the same for the second quarter and decreased
by  $30,000  for  the  first six months of 2001, respectively as compared to the
same  periods  in 2000.  We have continued to provide for loan losses due to the
loan  growth  and our assessment of the inherent risk in the loan portfolio. The
allowance  for  loan  losses as a percentage of total loans amounted to 1.34% at
June 30, 2001 as compared to 1.33% at December 31, 2000.  The allowance for loan
losses  is  maintained  at  a  level that is deemed appropriate by management to
adequately  cover  all  known  and  inherent  risks  in the loan portfolio.  Our
evaluation  of  the  loan  portfolio  includes  a continuing review of loan loss
experience,  current economic conditions which may affect the borrower's ability
to  repay  and  the  underlying  collateral  value.


                                       10
<PAGE>
Information with respect to nonaccrual, past due and restructured loans is as
follows:

<TABLE>
<CAPTION>
                                                                               JUNE 30,
                                                                        ---------------------
                                                                           2001       2000
                                                                        ---------  -----------
                                                                        (DOLLARS IN THOUSANDS)
                                                                        ----------------------
<S>                                                                      <C>       <C>

Nonaccrual loans                                                         $     72  $      66
Loans contractually past due ninety days or more as to interest
  or principal payments and still accruing                                      0          0
Restructured loans                                                              0          0
Loans, now current about which there are serious doubts as to the
  ability of the borrower to comply with loan repayment terms                   0          0
Interest income that would have been recorded on nonaccrual
  and restructured loans under original terms                                   3          1
Interest income that was recorded on nonaccrual and restructured loans          0          0
</TABLE>


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,
                                                                    ---------------------
                                                                       2001      2000
                                                                    ---------  ----------
                                                                    (DOLLARS IN THOUSANDS)
                                                                    ---------------------
<S>                                                                 <C>        <C>
Average amount of loans outstanding                                 $ 33,354   $  20,312
                                                                    =========  ==========

Balance of allowance for loan losses at beginning of period         $    424   $     200
                                                                    ---------  ----------

Loans charged off
  Commercial and financial                                                11          10
  Real estate mortgage                                                     0           0
  Instalment                                                               2           7
                                                                    ---------  ----------
                                                                          13          17
                                                                    ---------  ----------

Loans recovered
  Commercial and financial                                                 1           0
  Real estate mortgage                                                     0           0
  Instalment                                                               2           0
                                                                    ---------  ----------
                                                                           3           0
                                                                    ---------  ----------

Net charge-offs                                                           10          17
                                                                    ---------  ----------

Additions to allowance charged to operating expense during period         60          90
                                                                    ---------  ----------

Balance of allowance for loan losses at end of period               $    474   $     273
                                                                    =========  ==========

Ratio of net loans charged off during the period to
  average loans outstanding                                              .03%        .08%
                                                                    =========  ==========
</TABLE>

Other  income  increased  by  $32,000  and $80,000 during the second quarter and
first  six months of 2001, respectively, as compared to the same periods in 2000
due  to  increased  service  charges  on  deposit  accounts  and  increased fees
associated  with  mortgage  loan  origination  activities.

Other  expenses  decreased during the second quarter by $14,000 and increased by
$24,000  during  the  first six months of 2001, respectively, as compared to the
same  periods in 2000.  Salaries and employee benefits have increased due to the
number  of  employees  increasing to 21 as of June 30, 2001 as compared to 19 at
June  30,  2000  and to other annual salary increases.  The increase in salaries
and employee benefits has been substantially offset by decreased other operating
expenses.

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
               April  26,  2001.

          (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 (709,631 shares or 78.49%)
               voted  as  follows:

                                                     ITEM (b)
                                                      #  OF
                                                     SHARES
                                                     -------

                         For                         709,631
                         Withheld  authority              --
                         Against                          --
                                                     -------

                         Total                       709,631
                                                     =======

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)

               13.1 North  Georgia  Community  Financial  Partners,  Inc.  and
                    Subsidiary Consolidated Financial Report, December 31, 2000.
                    (2)

               21.1 Subsidiaries  of North Georgia Community Financial Partners,
                    Inc.(1)

               99.1 2001  Proxy  Statement  sent  to securities holders of North
                    Georgia  Community  Financial  Partners,  Inc.(2)
               __________________________
               (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, File No.
                    333-34908,  filed  with  the  SEC  on  March  30,  2001.

          (b)  Reports  on  Form  8-K:  None


                                       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  National  Bank
                                           (Registrant)



DATE: August 10, 2001          BY: /s/ David J. Lance
      ---------------              ---------------------------------------------
                                    David J. Lance. President and C.E.O.
                                   (Principal  Executive  Officer)


DATE: August 10, 2001          BY: /s/ Rhonda C. Massengill
      ---------------              ---------------------------------------------
                                   Rhonda C. Massengill, Chief Financial Officer
                                   (Principal Financial and Accounting Officer)


                                       15
<PAGE>