U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-KSB

(Mark One)

[X]       Annual report pursuant to Section 13 or 15(d) of the Securities
          Exchange Act of 1934

For fiscal year ended DECEMBER 31, 2003
                      -----------------

[ ]       Transition report under Section 13 or 15(d) of the Securities Exchange
          Act of 1934

          For the transition period from ______________to _______________

          Commission file number

                       WEST METRO FINANCIAL SERVICES, INC.
                       -----------------------------------
                 (Name of small business issuer in its charter)

               GEORGIA                                      58-2643181
-------------------------------------------       ------------------------------
     (State or other jurisdiction of                    (I.R.S. Employer
     incorporation or organization)                     Identification No.)

  1242 MARIETTA HIGHWAY, DALLAS, GEORGIA                      30157
-------------------------------------------       ------------------------------
 (Address of Principal Executive Offices)                   (Zip Code)

Securities registered pursuant to Section 12(b) of the Act:     NONE.

Securities registered pursuant to Section 12(g) of the Act:     NONE.

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  registrant  was  required  to file such reports), and (2) has been
subject  to  such  filing  requirements  for past 90 days.  Yes  X      No
                                                               -----      -----

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  is  not  contained  in  this  form,  and  no disclosure will be
contained,  to  the  best  of  registrant's  knowledge, in definitive proxy or a
information statements incorporated by reference in Part III of this Form 10-KSB
or  any  amendment  to  this  Form  10-KSB. [ ]

State  issuer's  revenues  for  its  most  recent  fiscal  year:  $4,173,050
                                                                  ----------

State the aggregate market value of the voting and non-voting common equity held
by  non-affiliates  computed  by  reference  to the price at which the stock was
sold,  or  the  average  bid  and  asked  prices  of such common equity, as of a
specified  date  within the past 60 days:  $7,219,828 BASED ON 650,435 SHARES AT
                                           -------------------------------------
$11.10  PER  SHARE  ON  MARCH  8,  2004.
---------------------------------------

                    APPLICABLE ONLY TO CORPORATE REGISTRANTS

     State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date. 1,200,000 AS OF MARCH 22,2004.
                                                  -----------------------------

                       DOCUMENTS INCORPORATED BY REFERENCE
NONE.

     Transitional Small Business Disclosure format (check one): Yes      No X
                                                                    ---    ---


<PAGE>
                                TABLE OF CONTENTS

                                                                       PAGE
                                                                      NUMBER

PART I . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   3

  ITEM 1.   DESCRIPTION OF BUSINESS. . . . . . . . . . . . . . . . . .   3

  ITEM 2.   DESCRIPTION OF PROPERTIES. . . . . . . . . . . . . . . . .  17

  ITEM 3.   LEGAL PROCEEDINGS. . . . . . . . . . . . . . . . . . . . .  17

  ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. . . .  18

PART II. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  18

  ITEM 5.   MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED
            STOCKHOLDER MATTERS AND SMALL BUSINESS ISSUER PURCHASES OF
            EQUITY SECURITIES. . . . . . . . . . . . . . . . . . . . .  18

  ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
            CONDITION AND RESULTS OF OPERATIONS. . . . . . . . . . . .  19

  ITEM 7.   CONSOLIDATED FINANCIAL STATEMENTS. . . . . . . . . . . . .  29

  ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
            ACCOUNTING AND FINANCIAL DISCLOSURE                         29

  ITEM 8A.  CONTROLS AND PROCEDURES. . . . . . . . . . . . . . . . . .  29

PART III . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  30

  ITEM 9.   DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT . . . .  30

  ITEM 10.  EXECUTIVE COMPENSATION . . . . . . . . . . . . . . . . . .  31

  ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
            MANAGEMENT AND RELATED STOCKHOLDER MATTERS . . . . . . . .  36

  ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS . . . . . .  38

  ITEM 13.  EXHIBITS, LISTS AND REPORTS ON FORM 8-K. . . . . . . . . .  38

  ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES . . . . . . . . . .  40


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                                     PART I


ITEM 1.     DESCRIPTION OF BUSINESS

             CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS

     Various matters discussed in this Annual Report on Form 10-KSB may
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act.  Forward-looking statements may involve known
and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of West Metro Financial Services, Inc. (the
"Company") or First National Bank West Metro ("FNB West Metro" or the "Bank") to
be materially different from the results described in such forward-looking
statements.

     Actual results may differ materially from the results anticipated in these
forward-looking statements due to a variety of factors, including, without
limitation:

     -    The inability of the Bank to achieve and maintain regulatory capital
          standards;

     -    Changes in the legislative and regulatory environment;

     -    The effects of changes in interest rates on the level and composition
          of deposits, loan demand, the value of loan collateral, and interest
          rate risks; and

     -    The effects of competition from commercial banks, thrifts, consumer
          finance companies, and other financial institutions operating in our
          market area and elsewhere.

     All forward-looking statements attributable to the Company or the Bank are
expressly qualified in their entirety by these cautionary statements.  Both the
Company and the Bank disclaim any intent or obligation to update these
forward-looking statements, whether as a result of new information, future
events or otherwise.

                       WEST METRO FINANCIAL SERVICES, INC.

     The Company is a Georgia corporation that was incorporated on May 9, 2001
to organize and serve as the holding company for FNB West Metro, a national
bank.  The Bank operates as a community bank emphasizing prompt, personalized
customer service to the individuals and businesses located in Paulding and
Douglas Counties in Georgia, including the cities of Dallas, Hiram and
Douglasville.

     The Company was organized because we believe it provides flexibility that
would otherwise not be available to the Bank. For example, the holding company
structure makes it easier to raise capital for the Bank because the Company is
able to issue securities without the need for prior banking regulatory approval,
and the proceeds of debt securities issued by the Company can be invested in the
Bank as primary capital.


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                                 FNB WEST METRO

GENERAL

     The Bank operates as a full-service commercial bank.  The Bank offers
personal and business checking accounts, money market accounts, savings accounts
and various certificates of deposit and individual retirement accounts.  The
Bank also offers commercial, real estate, installment and other consumer loans.
The Bank's real estate loans include commercial real estate, construction and
development and residential real estate loans.  In addition, the Bank provides
such services as cashier's checks, traveler's checks, banking by mail, direct
deposit and U.S. Savings Bonds.  The Bank also offers MasterCard(R) and Visa(R)
credit card services through a correspondent bank as an agent and offers debit
cards that feature ATM access.

PHILOSOPHY

     We emphasize prompt, personalized customer service.  Through our localized
management and ownership we believe we are uniquely situated to provide
responsive service and quality financial products that are tailored to meet the
needs of the individuals and small- to medium-sized businesses located
throughout Paulding and Douglas Counties, as well as the western part of Cobb
County.  We believe that local ownership and control allows the Bank to serve
its customers more efficiently, helping us to grow both our deposit base and
loan portfolio.  All of the Bank's strategies are based on the philosophy of
"The Customer Comes First."  We have adopted this philosophy in order to attract
customers and acquire market share now controlled by other financial
institutions operating in our market area.

     We believe that it is important for Paulding County to have a locally owned
and locally managed community bank that is sensitive and responsive to the needs
of the community.  Further, we believe that there is an opportunity for the Bank
to acquire significant market share by capitalizing on its position as the only
independent community bank in Paulding County and offering an alternative to the
impersonal service that we believe is offered by many larger banks.

MARKET OPPORTUNITIES

     PRIMARY SERVICE AREA.  The Bank's primary service area is Paulding and
Douglas Counties in Georgia, including the cities of Dallas, Hiram and
Douglasville.  The Bank draws most of its customer deposits and conducts most of
its lending transactions from and within its primary service area.  In addition,
we attract significant business from the western part of Cobb County.

The primary service area represents a diverse market with a growing population
and economy.  The attractive suburban neighborhoods of Dallas and Hiram have
evolved into classic "bedroom communities" for people who work in Cobb County
and the Atlanta metropolitan area.  In addition, Paulding and Douglas Counties'
tremendous population growth in recent years has lead to growth in the local
service economy and the organizers expect this trend to continue.

     The Bank competes with other commercial banks, savings and loan
associations, credit unions, money market mutual funds and other financial
institutions conducting business in the Paulding and Douglas County markets and
elsewhere.  Many of the Bank's competitors have equal or greater financial or
banking related resources than the Company and the Bank.  According to
information provided by the FDIC, as of June 30, 2003, the Paulding and Douglas
County area was served by 17 banking and savings institutions with 47 offices.
These competitors offer the same or similar products and services as the


                                        4
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Bank.  Currently, the Bank's three largest competitors in terms of market share
are Regions Bank, Douglas County Bank and Citizens & Merchants STB.

LENDING  SERVICES

     LENDING POLICY.  We place a primary emphasis on real estate related loans
in order to take advantage of the population growth in our primary service area.
We also offer a full range of lending products, including commercial loans to
small- to medium-sized businesses and professional concerns, and consumer loans
to individuals.  We compete for these loans with competitors who are well
established in the Paulding County area and have greater resources and lending
limits.

     The Bank's loan portfolio is comprised of the following:

          LOAN CATEGORY                     RATIO
          -------------                     -----

          Real estate related loans. . . .  90.5%

          Commercial loans . . . . . . . .   6.5%

          Consumer loans . . . . . . . . .   3.0%

     LOAN APPROVAL AND REVIEW.  The Bank's loan approval policies provide for
various levels of officer lending authority.  When the amount of total loans to
a single borrower exceeds that individual officer's lending authority, an
officer with a higher lending limit or the Bank's Loan Committee determines
whether to approve the loan request.  The Bank does not make any loans to any of
its directors or executive officers unless its board of directors, excluding the
interested party, first approves the loan, and the terms of the loan are no more
favorable than would be available to any comparable borrower.

     LENDING LIMITS.  The Bank's lending activities are subject to a variety of
lending limits imposed by federal law.  Differing limits apply based on the type
of loan or the nature of the borrower, including the borrower's relationship to
the bank.  In general, however, the Bank is able to loan any one borrower a
maximum amount equal to either:

     -    15% of the Bank's capital and surplus; or

     -    25% of its capital and surplus if the amount that exceeds 15% is fully
          secured by readily marketable collateral.

     Our management team has adopted an internal lending limit which will at all
times remain $50,000 lower than the applicable legal limit.  However, based on
either our internal lending limit or our legal lending limit, the Bank sells
participations in its loans to other financial institutions in order to meet all
of the lending needs of our clients requiring extensions of credit above these
limits.  In a participation transaction, the Bank sells the portion of the loan
that exceeds its internal or legal lending limit to an unrelated lender on a
non-recourse basis.  As a result, the participating lender bears all of the risk
of default for the portion of the loan it purchases.  The Bank retains all of
the servicing rights to the loan; therefore, the customer makes all payments to
the Bank, who in turn remits a pro-rata share of the payments to the
participating lender.

     CREDIT RISKS.  The principal economic risk associated with each category of
loans that the Bank makes is the creditworthiness of the borrower.  Borrower
creditworthiness is affected by general economic conditions and the strength of
the relevant business market segment.  General economic factors


                                        5
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affecting a borrower's ability to repay include interest, inflation and
employment rates, as well as other factors affecting a borrower's customers,
suppliers and employees.

     The well-established financial institutions in the Paulding and Douglas
County markets make proportionately more loans to medium- to large-sized
businesses than the Bank makes.  Many of the Bank's commercial loans are made to
small- to medium-sized businesses that may be less able to withstand
competitive, economic and financial pressures than larger borrowers.

     REAL ESTATE LOANS.  The Bank makes commercial real estate loans,
construction and development loans, and residential real estate loans.  These
loans include commercial loans where the Bank takes a security interest in real
estate out of an abundance of caution and not as the principal collateral for
the loan, but excludes home equity loans, which are classified as consumer
loans.

     -     COMMERCIAL REAL ESTATE.  The Bank's commercial real estate loan terms
are generally limited to five years or less, although payments may be structured
on a longer amortization basis.  Interest rates may be fixed or adjustable,
although rates are typically not fixed for a period exceeding 60 months.  The
Bank generally charges an origination fee of one percent.  We attempt to reduce
credit risk on our commercial real estate loans by emphasizing loans on
owner-occupied office and retail buildings where the ratio of the loan principal
to the value of the collateral as established by independent appraisal does not
exceed 80% and net projected cash flow available for debt service equals 120% of
the debt service requirement.  In addition, the Bank generally requires personal
guarantees from the principal owners of the property supported by a review by
the Bank's management of the principal owners' personal financial statements.
Risks associated with commercial real estate loans include fluctuations in the
value of real estate, new job creation trends, tenant vacancy rates and the
quality of the borrower's management.  The Bank limits its risk by analyzing
borrowers' cash flow and collateral value on an ongoing basis.

     -     CONSTRUCTION AND DEVELOPMENT LOANS.  The Bank makes construction and
development loans both on a pre-sold and speculative basis.  If the borrower has
entered into an agreement to sell the property prior to beginning construction,
then the loan is considered to be on a pre-sold basis.  If the borrower has not
entered into an agreement to sell the property prior to beginning construction,
then the loan is considered to be on a speculative basis.  Construction and
development loans are generally made with a term of six to twelve months and
interest is paid quarterly.  The ratio of the loan principal to the value of the
collateral as established by independent appraisal typically does not exceed
80%.  Speculative loans are based on the borrower's financial strength and cash
flow position.  Loan proceeds are disbursed based on the percentage of
completion and only after the project has been inspected by an experienced
construction lender or independent appraiser.  Risks associated with
construction loans include fluctuations in the value of real estate and new job
creation trends.

     -     RESIDENTIAL REAL ESTATE.  The Bank's residential real estate loans
consist of residential second mortgage loans, residential construction loans and
traditional mortgage lending for one to four family residences.  We originate
and maintain fixed rate mortgages with long-term maturity not exceeding 20 years
and a balloon payment or call feature of three or five years.  The amortization
of second mortgages generally do not exceed 15 years and the rates generally are
not fixed for over 60 months.  All loans are made in accordance with the Bank's
appraisal policy and with the ratio of the loan principal to the value of
collateral as established by independent appraisal not exceeding 95%.  We expect
that these loan-to-value ratios will be sufficient to compensate for
fluctuations in real estate market value and to minimize losses that could
result from a downturn in the residential real estate market.

     COMMERCIAL LOANS.  Loans for commercial purposes in various lines of
businesses are one of the primary components of the Bank's loan portfolio.  The
terms of these loans vary by purpose and by type of underlying collateral, if
any.  The Bank typically makes equipment loans for a term of five years or less


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at fixed or variable rates, with the loan fully amortized over the term.
Equipment loans are generally secured by the financed equipment, and the ratio
of the loan principal to the value of the financed equipment or other collateral
is generally 80% or less.  Loans to support working capital typically have terms
not exceeding one year and are usually secured by accounts receivable, inventory
or personal guarantees of the principals of the business.  For loans secured by
accounts receivable or inventory, principal is typically repaid as the assets
securing the loan are converted into cash, and for loans secured with other
types of collateral, principal is typically due at maturity.  The quality of the
commercial borrower's management and its ability both to properly evaluate
changes in the supply and demand characteristics affecting its markets for
products and services and to effectively respond to such changes are significant
factors in a commercial borrower's creditworthiness.

     CONSUMER LOANS.  The Bank makes a variety of loans to individuals for
personal, family and household purposes, including secured and unsecured
installment and term loans, home equity loans and home equity lines of credit.
Consumer loan repayments depend upon the borrower's financial stability and are
more likely to be adversely affected by divorce, job loss, illness and personal
hardships.  Because many consumer loans are secured by depreciable assets such
as boats, cars and trailers the loan should be amortized over the useful life of
the asset.  To minimize the risk that the borrower cannot afford the monthly
payments, all fixed monthly obligations should not exceed 40% of the borrower's
gross monthly income.  The borrower should also be continuously employed for at
least 12 months prior to obtaining the loan.  The loan officer reviews the
borrower's past credit history, past income level, debt history and, when
applicable, cash flow and determine the impact of all these factors on the
ability of the borrower to make future payments as agreed.  Our principal
competitors for consumer loans are the established banks in the Bank's market.

INVESTMENTS

     In addition to loans, the Bank makes other investments primarily in
obligations of the United States or obligations guaranteed as to principal and
interest by the United States and other taxable securities.  No investment in
any of those instruments exceeds any applicable limitation imposed by law or
regulation.  The Loan & Asset/Liability Committee reviews the investment
portfolio on an ongoing basis in order to ensure that the investments conform to
the Bank's policy as set by the board of directors.

ASSET AND LIABILITY MANAGEMENT

     The Loan & Asset/Liability Committee manages the Bank's assets and
liabilities and strives to provide a stable and optimized net interest margin,
adequate liquidity and a profitable after-tax return on assets and return on
equity.  The committee conducts these management functions within the framework
of the Bank's written loan and investment policies.  The committee attempts to
maintain a balanced position between rate sensitive assets and rate sensitive
liabilities. Specifically, it charts assets and liabilities on a matrix by
maturity, effective duration and interest adjustment period and attempt to
manage any gaps in maturity ranges.

DEPOSIT SERVICES

     The Bank seeks to establish a broad base of core deposits, including
savings accounts, checking accounts, money market accounts, a variety of
certificates of deposit and IRA accounts.   To attract deposits, the Bank
employs an aggressive marketing plan in its overall service area and features a
broad product line and competitive rates and services.  The primary sources of
deposits are residents of, and businesses and their employees located in, the
Bank's primary service area.  The Bank obtains these deposits through personal
solicitation by its officers and directors, direct mail solicitations and


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advertisements published in the local media.  In order to attract its initial
deposit base, the Bank offers higher interest rates on various deposit accounts.

OTHER BANKING SERVICES

     Other anticipated banking services include limited cash management
services, on-line banking services, discount brokerage services, travelers
checks, direct deposit of payroll and social security checks, courier service,
night depository and debit cards.  The Bank is associated with InterCept.  Our
clients are able to use InterCept's automated teller machines throughout Georgia
and other regions.  However, other financial institutions may charge our
customers for the use of their automated teller machines.  We also offer
MasterCard(R) and VISA(R) credit card services through a correspondent bank as
an agent for the Bank.  The Bank does not exercise trust powers.  In the future,
we may offer a full-service trust department, but cannot do so without the prior
approval of the Office of the Comptroller of the Currency.

                                    EMPLOYEES

     The Bank has 27 full-time equivalent employees.  When we occupy our
permanent facility, we expect that the Bank will have 32 full-time equivalent
employees.  The Company does not have any employees who are not also employees
of the Bank.

                           SUPERVISION AND REGULATION

     Both the Company and the Bank are subject to extensive state and federal
banking regulations that impose restrictions on and provide for general
regulatory oversight of their operations.  These laws generally are intended to
protect depositors and not shareholders.  The following discussion describes the
material elements of the regulatory framework that applies to us.

WEST METRO FINANCIAL SERVICES, INC.

     Since the Company owns all of the capital stock of the Bank, it is a bank
holding company under the federal Bank Holding Company Act of 1956.  As a
result, the Company is primarily subject to the supervision, examination, and
reporting requirements of the Bank Holding Company Act and the regulations of
the Federal Reserve.

     ACQUISITIONS OF BANKS.  The Bank Holding Company Act requires every bank
holding company to obtain the Federal Reserve's prior approval before:

     -    acquiring direct or indirect ownership or control of any voting shares
          of any bank if, after the acquisition, the bank holding company will
          directly or indirectly own or control more than 5% of the bank's
          voting shares;

     -    acquiring all or substantially all of the assets of any bank; or

     -    merging or consolidating with any other bank holding company.

     Additionally, the Bank Holding Company Act provides that the Federal
Reserve may not approve any of these transactions if it would result in or tend
to create a monopoly or, substantially lessen competition or otherwise function
as a restraint of trade, unless the anti-competitive effects of the proposed
transaction are clearly outweighed by the public interest in meeting the
convenience and needs of the community to be served.  The Federal Reserve is
also required to consider the financial and managerial resources and future
prospects of the bank holding companies and banks concerned and the


                                        8
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convenience and needs of the community to be served. The Federal Reserve's
consideration of financial resources generally focuses on capital adequacy,
which is discussed below.

     Under the Bank Holding Company Act, if adequately capitalized and
adequately managed, the Company or any other bank holding company located in
Georgia may purchase a bank located outside of Georgia. Conversely, an
adequately capitalized and adequately managed bank holding company located
outside of Georgia may purchase a bank located inside Georgia. In each case,
however, restrictions may be placed on the acquisition of a bank that has only
been in existence for a limited amount of time or will result in specified
concentrations of deposits. For example, Georgia law prohibits a bank holding
company from acquiring control of a financial institution until the target
financial institution has been incorporated for three years. As a result, no
bank holding company may acquire control of the Company until after the third
anniversary date of the Bank's incorporation.

     CHANGE IN BANK CONTROL.  Subject to various exceptions, the Bank Holding
Company Act and the Change in Bank Control Act, together with related
regulations, require Federal Reserve approval prior to any person or company
acquiring "control" of a bank holding company.  Control is conclusively presumed
to exist if an individual or company acquires 25% or more of any class of voting
securities of the bank holding company.  Control is refutably presumed to exist
if a person or company acquires 10% or more, but less than 25%, of any class of
voting securities and either:

     -    the bank holding company has registered securities under Section 12 of
          the Securities Act of 1934; or

     -    no other person owns a greater percentage of that class of voting
          securities immediately after the transaction.

Our common stock is registered under the Securities Exchange Act of 1934.  The
regulations provide a procedure for challenging any rebuttable presumption of
control.

     PERMITTED ACTIVITIES.  A bank holding company is generally permitted under
the Bank Holding Company Act, to engage in or acquire direct or indirect control
of more than 5% of the voting shares of any company engaged in the following
activities:

     -    Banking or managing or controlling banks; and

     -    Any activity that the Federal Reserve determines to be so closely
          related to banking as to be a proper incident to the business of
          banking.

     Activities that the Federal Reserve has found to be so closely related to
banking as to be a proper incident to the business of banking include:

     -    Factoring accounts receivable;

     -    Making, acquiring, brokering or servicing loans and usual related
          activities;

     -    Leasing personal or real property;

     -    Operating a non-bank depository institution, such as a savings
          association;

     -    Trust company functions;

     -    Financial and investment advisory activities;

     -    Conducting discount securities brokerage activities;


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     -    Underwriting and dealing in government obligations and money market
          instruments;

     -    Providing specified management consulting and counseling activities;

     -    Performing selected data processing services and support services;

     -    Acting as agent or broker in selling credit life insurance and other
          types of insurance in connection with credit transactions; and

     -    Performing selected insurance underwriting activities.

     Despite prior approval, the Federal Reserve may order a bank holding
company or its subsidiaries to terminate any of these activities or to terminate
its ownership or control of any subsidiary when it has reasonable cause to
believe that the bank holding company's continued ownership, activity or control
constitutes a serious risk to the financial safety, soundness, or stability of
it or any of its bank subsidiaries.

     In addition to the permissible bank holding company activities listed
above, a bank holding company may qualify and elect to become a financial
holding company, permitting the bank holding company to engage in additional
activities that are financial in nature or incidental or complementary to
financial activity.  The Bank Holding Company Act expressly lists the following
activities as financial in nature:

     -    Lending, trust and other banking activities;

     -    Insuring, guaranteeing, or indemnifying against loss or harm, or
          providing and issuing annuities, and acting as principal, agent, or
          broker for these purposes, in any state;

     -    Providing financial, investment, or advisory services;

     -    Issuing or selling instruments representing interests in pools of
          assets permissible for a bank to hold directly;

     -    Underwriting, dealing in or making a market in securities;

     -    Other activities that the Federal Reserve may determine to be so
          closely related to banking or managing or controlling banks as to be a
          proper incident to managing or controlling banks;

     -    Foreign activities permitted outside of the United States if the
          Federal Reserve has determined them to be usual in connection with
          banking operations abroad;

     -    Merchant banking through securities or insurance affiliates; and

     -    Insurance company portfolio investments.

     To qualify to become a financial holding company, the Bank and any other
depository institution subsidiary of the Company must be well capitalized and
well managed and must have a Community Reinvestment Act rating of at least
"satisfactory."  Additionally, the Company must file an election with the
Federal Reserve to become a financial holding company and must provide the
Federal Reserve with 30 days' written notice prior to engaging in a permitted
financial activity. While the Company meets the qualification standards
applicable to financial holding companies, the Company has not elected to become
a financial holding company at this time.

     SUPPORT OF SUBSIDIARY INSTITUTIONS.  Under Federal Reserve policy, the
Company is expected to act as a source of financial strength for the Bank and to
commit resources to support the Bank.  This support may be required at times
when, without this Federal Reserve policy, the Company might not be inclined to
provide it.  In addition, any capital loans made by the Company to the Bank will
be repaid


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only after its deposits and various other obligations are repaid in full. In the
unlikely event of the Company's bankruptcy, any commitment by it to a federal
bank regulatory agency to maintain the capital of the Bank will be assumed by
the bankruptcy trustee and entitled to a priority of payment.

FIRST NATIONAL BANK WEST METRO

     Since the Bank is chartered as a national bank, it is primarily subject to
the supervision, examination and reporting requirements of the National Bank Act
and the regulations of the Office of the Comptroller of the Currency.  The
Office of the Comptroller of the Currency regularly examines the Bank's
operations and has the authority to approve or disapprove mergers, the
establishment of branches and similar corporate actions.  The Office of the
Comptroller of the Currency also has the power to prevent the continuance or
development of unsafe or unsound banking practices or other violations of law.
Additionally, the Bank's deposits are insured by the FDIC to the maximum extent
provided by law.  The Bank is also subject to numerous state and federal
statutes and regulations that affect its business, activities and operations.

     BRANCHING.  National banks are required by the National Bank Act to adhere
to branching laws applicable to state banks in the states in which they are
located.  Under current Georgia law, the Bank may open branch offices throughout
Georgia with the prior approval of the Office of the Comptroller of the
Currency.  In addition, with prior regulatory approval, the Bank may acquire
branches of existing banks located in Georgia.  The Bank and any other national
or state-chartered bank generally may branch across state lines by merging with
banks in other states if allowed by the applicable states' laws.  Georgia law,
with limited exceptions, currently permits branching across state lines through
interstate mergers.

     Under the Federal Deposit Insurance Act, states may "opt-in" and allow
out-of-state banks to branch into their state by establishing a new start-up
branch in the state.  Currently, Georgia has not opted-in to this provision.
Therefore, interstate merger is the only method through which a bank located
outside of Georgia may branch into Georgia.  This provides a limited barrier of
entry into the Georgia banking market, which protects us from an important
segment of potential competition.  However, because Georgia has elected not to
opt-in, our ability to establish a new start-up branch in another state may be
limited.  Many states that have elected to opt-in have done so on a reciprocal
basis, meaning that an out-of-state bank may establish a new start-up branch
only if their home state has also elected to opt-in.  Consequently, until
Georgia changes its election, the only way we will be able to branch into states
that have elected to opt-in on a reciprocal basis will be through interstate
merger.

     PROMPT CORRECTIVE ACTION.  The Federal Deposit Insurance Corporation
Improvement Act of 1991 establishes a system of prompt corrective action to
resolve the problems of undercapitalized financial institutions.  Under this
system, the federal banking regulators have established five capital categories
(well capitalized, adequately capitalized, undercapitalized, significantly
undercapitalized and critically undercapitalized) in which all institutions are
placed.  Federal banking regulators are required to take various mandatory
supervisory actions and are authorized to take other discretionary actions with
respect to institutions in the three undercapitalized categories.  The severity
of the action depends upon the capital category in which the institution is
placed.  Generally, subject to a narrow exception, the banking regulator must
appoint a receiver or conservator for an institution that is critically
undercapitalized.  The federal banking agencies have specified by regulation the
relevant capital level for each category.

     An institution that is categorized as undercapitalized, significantly
undercapitalized, or critically undercapitalized is required to submit an
acceptable capital restoration plan to its appropriate federal banking agency. A
bank holding company must guarantee that a subsidiary depository institution
meets its capital restoration plan, subject to various limitations. The
controlling holding company's obligation


                                       11
<PAGE>
to fund a capital restoration plan is limited to the lesser of 5% of an
undercapitalized subsidiary's assets at the time it became undercapitalized or
the amount required to meet regulatory capital requirements. An undercapitalized
institution is also generally prohibited from increasing its average total
assets, making acquisitions, establishing any branches or engaging in any new
line of business, except under an accepted capital restoration plan or with FDIC
approval. The regulations also establish procedures for downgrading an
institution to a lower capital category based on supervisory factors other than
capital.

     FDIC INSURANCE ASSESSMENTS.  The FDIC has adopted a risk-based assessment
system for insured depository institutions that takes into account the risks
attributable to different categories and concentrations of assets and
liabilities.  The system assigns an institution to one of three capital
categories: (1) well capitalized; (2) adequately capitalized; and (3)
undercapitalized.  These three categories are substantially similar to the
prompt corrective action categories described above, with the "undercapitalized"
category including institutions that are undercapitalized, significantly
undercapitalized, and critically undercapitalized for prompt corrective action
purposes.  The FDIC also assigns an institution to one of three supervisory
subgroups based on a supervisory evaluation that the institution's primary
federal regulator provides to the FDIC and information that the FDIC determines
to be relevant to the institution's financial condition and the risk posed to
the deposit insurance funds.  Assessments range from 0 to 27 cents per $100 of
deposits, depending on the institution's capital group and supervisory subgroup.
In addition, the FDIC imposes assessments to help pay off the $780 million in
annual interest payments on the $8 billion Financing Corporation bonds issued in
the late 1980s as part of the government rescue of the thrift industry.  This
assessment rate is adjusted quarterly and is set at 1.54 cents per $100 of
deposits for the first quarter of 2004.

     The FDIC may terminate its insurance of deposits if it finds that the
institution has engaged in unsafe and unsound practices, is in an unsafe or
unsound condition to continue operations, or has violated any applicable law,
regulation, rule, order, or condition imposed by the FDIC.

     COMMUNITY REINVESTMENT ACT.  The Community Reinvestment Act requires that,
in connection with examinations of financial institutions within their
respective jurisdictions, the Federal Reserve, the FDIC, or the Office of the
Comptroller of the Currency, shall evaluate the record of each financial
institution in meeting the credit needs of its local community, including low
and moderate-income neighborhoods.  These facts are also considered in
evaluating mergers, acquisitions, and applications to open a branch or facility.
Failure to adequately meet these criteria could impose additional requirements
and limitations on the Bank.  Since our aggregate assets are not more than $250
million, under the Gramm-Leach-Bliley Act, we are generally subject to a
Community Reinvestment Act examination only once every 60 months if we receive
an "outstanding" rating, once every 48 months if we receive a "satisfactory"
rating and as needed if our rating is "less than satisfactory."  Additionally,
we must publicly disclose the terms of various Community Reinvestment
Act-related agreements.

     OTHER REGULATIONS. Interest and other charges collected or contracted for
by the Bank are subject to state usury laws and federal laws concerning interest
rates. For example, under the Soldiers' and Sailors' Civil Relief Act of 1940, a
lender is generally prohibited from charging an annual interest rate in excess
of 6% on any obligation for which the borrower is a person on active duty with
the United States military.

     The Bank's loan operations are also subject to federal laws applicable to
credit transactions, such as the:

     -    federal Truth-In-Lending Act, governing disclosures of credit terms to
          consumer borrowers;


                                       12
<PAGE>
     -    Home Mortgage Disclosure Act of 1975, requiring financial institutions
          to provide information to enable the public and public officials to
          determine whether a financial institution is fulfilling its obligation
          to help meet the housing needs of the community it serves;

     -    Equal Credit Opportunity Act, prohibiting discrimination on the basis
          of race, creed or other prohibited factors in extending credit;

     -    Fair Credit Reporting Act of 1978, governing the use and provision of
          information to credit reporting agencies;

     -    Fair Debt Collection Act, governing the manner in which consumer debts
          may be collected by collection agencies;

     -    Soldiers' and Sailors' Civil Relief Act of 1940, governing the
          repayment terms of, and property rights underlying, secured
          obligations of persons in military service; and

     -    the rules and regulations of the various federal agencies charged with
          the responsibility of implementing these federal laws.

     In addition to the federal and state laws noted above, the Georgia Fair
Lending Act ("GAFLA") imposes restrictions and procedural requirements on most
mortgage loans made in Georgia, including home equity loans and lines of credit.
On August 5, 2003, the Office of the Comptroller of the Currency issued a formal
opinion stating that the entirety of GAFLA is preempted by federal law for
national banks and their operating subsidiaries.  As a result, the Bank is
exempt from the requirements of GAFLA.

     The deposit operations of the Bank are subject to:

     -    The Right to Financial Privacy Act, which imposes a duty to maintain
          confidentiality of consumer financial records and prescribes
          procedures for complying with administrative subpoenas of financial
          records; and

     -    The Electronic Funds Transfer Act and Regulation E issued by the
          Federal Reserve to implement that act, which govern automatic deposits
          to and withdrawals from deposit accounts and customers' rights and
          liabilities arising from the use of automated teller machines and
          other electronic banking services.

CAPITAL ADEQUACY

     The Company and the Bank are required to comply with the capital adequacy
standards established by the Federal Reserve, in the case of the Company, and
the Office of the Comptroller of the Currency, in the case of the Bank.  The
Federal Reserve has established a risk-based and a leverage measure of capital
adequacy for bank holding companies.  Since the Company's consolidated total
assets are less than $150 million, under the Federal Reserve's capital
guidelines, our capital adequacy is measured on a bank-only basis, as opposed to
a consolidated basis.  The Bank is also subject to risk-based and leverage
capital requirements adopted by the Office of the Comptroller of the Currency,
which are substantially similar to those adopted by the Federal Reserve for bank
holding companies.

     The risk-based capital standards are designed to make regulatory capital
requirements more sensitive to differences in risk profiles among banks and bank
holding companies, to account for off-balance-sheet exposure, and to minimize
disincentives for holding liquid assets.  Assets and off-balance-sheet items,
such as letters of credit and unfunded loan commitments, are assigned to broad
risk


                                       13
<PAGE>
categories, each with appropriate risk weights. The resulting capital ratios
represent capital as a percentage of total risk-weighted assets and
off-balance-sheet items.

     The minimum guideline for the ratio of total capital to risk-weighted
assets is 8%.  Total capital consists of two components, Tier 1 Capital and Tier
2 Capital.  Tier 1 Capital generally consists of common stock, minority
interests in the equity accounts of consolidated subsidiaries, noncumulative
perpetual preferred stock, and a limited amount of qualifying cumulative
perpetual preferred stock, less goodwill and other specified intangible assets.
Tier 1 Capital must equal at least 4% of risk-weighted assets.  Tier 2 Capital
generally consists of subordinated debt, other preferred stock, and a limited
amount of loan loss reserves.  The total amount of Tier 2 Capital is limited to
100% of Tier 1 Capital.  At December 31, 2003 our ratio of total capital to
risk-weighted assets was 17.9% and our ratio of Tier 1 Capital to risk-weighted
assets was 16.7%.

     In addition, the Federal Reserve has established minimum leverage ratio
guidelines for bank holding companies.  These guidelines provide for a minimum
ratio of Tier 1 Capital to average assets, less goodwill and other specified
intangible assets, of 3% for bank holding companies that meet specified
criteria, including having the highest regulatory rating and implementing the
Federal Reserve's risk-based capital measure for market risk.  All other bank
holding companies generally are required to maintain a leverage ratio of at
least 4%.  At December 31, 2003, our leverage ratio was 15.7%.  The guidelines
also provide that bank holding companies experiencing internal growth or making
acquisitions will be expected to maintain strong capital positions substantially
above the minimum supervisory levels without reliance on intangible assets.  The
Federal Reserve considers the leverage ratio and other indicators of capital
strength in evaluating proposals for expansion or new activities.

     Failure to meet capital guidelines could subject a bank or bank holding
company to a variety of enforcement remedies, including issuance of a capital
directive, the termination of deposit insurance by the FDIC, a prohibition on
accepting brokered deposits, and certain other restrictions on its business. As
described above, significant additional restrictions can be imposed on
FDIC-insured depository institutions that fail to meet applicable capital
requirements. See "-First National Bank West Metro-Prompt Corrective Action."

PAYMENT OF DIVIDENDS

     The Company is a legal entity separate and distinct from the Bank.  The
principal sources of the Company's cash flow, including cash flow to pay
dividends to its shareholders, are dividends that the Bank pays to its sole
shareholder, the Company.  Statutory and regulatory limitations apply to the
Bank's payment of dividends to the Company as well as to the Company's payment
of dividends to its shareholders.

     The Bank is required by federal law to obtain prior approval of the Office
of the Comptroller of the Currency for payments of dividends if the total of all
dividends declared by our board of directors in any year will exceed (1) the
total of the Bank's net profits for that year, plus (2) the Bank's retained net
profits of the preceding two years, less any required transfers to surplus.

     The payment of dividends by the Company and the Bank may also be affected
by other factors, such as the requirement to maintain adequate capital above
regulatory guidelines. If, in the opinion of the Office of the Comptroller of
the Currency, the Bank were engaged in or about to engage in an unsafe or
unsound practice, the Office of the Comptroller of the Currency could require,
after notice and a hearing, that the Bank stop or refrain engaging in the
practice. The federal banking agencies have indicated that paying dividends that
deplete a depository institution's capital base to an inadequate level would be
an unsafe and unsound banking practice. Under the Federal Deposit Insurance
Corporation Improvement


                                       14
<PAGE>
Act of 1991, a depository institution may not pay any dividend if payment would
cause it to become undercapitalized or if it already is undercapitalized.
Moreover, the federal agencies have issued policy statements that provide that
bank holding companies and insured banks should generally only pay dividends out
of current operating earnings. See "- First National Bank West Metro-Prompt
Corrective Action" above.

RESTRICTIONS ON TRANSACTIONS WITH AFFILIATES

     The Company and the Bank are subject to the provisions of Section 23A of
the Federal Reserve Act.  Section 23A places limits on the amount of:

     -    a bank's loans or extensions of credit to affiliates;

     -    a bank's investment in affiliates;

     -    assets a bank may purchase from affiliates, except for real and
          personal property exempted by the Federal Reserve;

     -    loans or extensions of credit to third parties collateralized by the
          securities or obligations of affiliates; and

     -    a bank's guarantee, acceptance or letter of credit issued on behalf of
          an affiliate.

     The total amount of the above transactions is limited in amount, as to any
one affiliate, to 10% of a bank's capital and surplus and, as to all affiliates
combined, to 20% of a bank's capital and surplus.  In addition to the limitation
on the amount of these transactions, each of the above transactions must also
meet specified collateral requirements.  The Bank must also comply with other
provisions designed to avoid the taking of low-quality assets.

     The Company and the Bank are also subject to the provisions of Section 23B
of the Federal Reserve Act which, among other things, prohibit an institution
from engaging in the above transactions with affiliates unless the transactions
are on terms substantially the same, or at least as favorable to the institution
or its subsidiaries, as those prevailing at the time for comparable transactions
with nonaffiliated companies.

     The Bank is also subject to restrictions on extensions of credit to its
executive officers, directors, principal shareholders and their related
interests.  These extensions of credit (1) must be made on substantially the
same terms, including interest rates and collateral, as those prevailing at the
time for comparable transactions with third parties, and (2) must not involve
more than the normal risk of repayment or present other unfavorable features.

PRIVACY

     Financial institutions are required to disclose their policies for
collecting and protecting confidential information.  Customers generally may
prevent financial institutions from sharing nonpublic personal financial
information with nonaffiliated third parties except under narrow circumstances,
such as the processing of transactions requested by the consumer or when the
financial institution is jointly sponsoring a product or service with a
nonaffiliated third party.  Additionally, financial institutions generally may
not disclose consumer account numbers to any nonaffiliated third party for use
in telemarketing, direct mail marketing or other marketing to consumers.


                                       15
<PAGE>
CONSUMER CREDIT REPORTING

     On December 4, 2003, the President signed the Fair and Accurate Credit
Transactions Act (the FAIR Act), amending the federal Fair Credit Reporting Act
(the FCRA).  These amendments to the FCRA (the FCRA Amendments) will become
effective as early as February 2004, but more likely in the third or fourth
quarter of 2004, depending on implementing regulations to be issued by the
Federal Trade Commission and the federal bank regulatory agencies.

     The FCRA Amendments include, among other things:

     -    new requirements for financial institutions to develop policies and
          procedures to identify potential identity theft and, upon the request
          of a consumer, place a fraud alert in the consumer's credit file
          stating that the consumer may be the victim of identity theft or other
          fraud;

     -    for entities that furnish information to consumer reporting agencies
          (which would include the Bank [and certain of its affiliates], new
          requirements to implement procedures and policies regarding the
          accuracy and integrity of the furnished information, and regarding the
          correction of previously furnished information that is later
          determined to be inaccurate; and

     -    a new requirement for mortgage lenders to disclose credit scores to
          consumers.

     Prior to the effective date of the FCRA Amendments, the Company and its
affected subsidiaries will implement policies and procedures to comply with the
new rules.

     The FCRA Amendments also will prohibit a business that receives consumer
information from an affiliate from using that information for marketing purposes
unless the consumer is first provided a notice and an opportunity to direct the
business not to use the information for such marketing purposes (the "opt-out"),
subject to certain exceptions.  The Company and its subsidiaries also will
implement procedures to comply with these new rules prior to the effective date
of the rules.  We do not plan to share consumer information among our affiliated
companies for marketing purposes, except as may be allowed under exceptions to
the notice and opt-out requirements.  Because no affiliate of the Company is
currently sharing consumer information with any other affiliate of the Company
for marketing purposes, the new limitations on sharing of information for
marketing purposes will not have a significant impact on the Company.

ANTI-TERRORISM LEGISLATION

     The Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001, signed
by the President on October 26, 2001, imposed new requirements and limitations
on specified financial transactions and account relationships, intended to guard
against money laundering and terrorism.  Most of these requirements and
limitations took effect in 2002.  Additional "know your customer" rules became
effective in June 2003, requiring the Bank to establish a customer
identification program under Section 326 of the USA PATRIOT Act.  The Company
and its subsidiaries implemented procedures and policies to comply with those
rules prior to the effective date of each of the rules.


                                       16
<PAGE>
PROPOSED LEGISLATION AND REGULATORY ACTION

     New regulations and statutes are regularly proposed that contain
wide-ranging proposals for altering the structures, regulations and competitive
relationships of financial institutions operating and doing business in the
United States.  We cannot predict whether or in what form any proposed
regulation or statute will be adopted or the extent to which our business may be
affected by any new regulation or statute.

EFFECT OF GOVERNMENTAL MONETARY POLICES

     Our earnings are affected by domestic economic conditions and the monetary
and fiscal policies of the United States government and its agencies.  The
Federal Reserve Bank's monetary policies have had, and are likely to continue to
have, an important impact on the operating results of commercial banks through
its power to implement national monetary policy in order, among other things, to
curb inflation or combat a recession.  The monetary policies of the Federal
Reserve affect the levels of bank loans, investments and deposits through its
control over the issuance of United States government securities, its regulation
of the discount rate applicable to member banks and its influence over reserve
requirements to which member banks are subject.  We cannot predict the nature or
impact of future changes in monetary and fiscal policies.

ITEM 2.     DESCRIPTION OF PROPERTIES

     Our main office is presently a temporary modular facility located on a
3-acre site on the south side of Georgia Highway 120, just east of the
intersection of Macland Road.  This site is centrally located between Dallas and
Hiram, and we believe it is well suited to serve the Bank's target customers.
We will be able to offer a full array of banking services from the temporary
facility which is approximately 2,500 square feet and includes one drive-up
teller window and an ATM.  A permanent facility will be located on the same site
next to the temporary facility.  We plan to open the facility in the second
quarter of 2004.  The permanent facility will be approximately 12,000 square
feet and will include three drive-up windows and an automated teller machine.

     We opened a full-service branch on Bankhead Highway and Church Street in
downtown Douglasville, Georgia on January 6, 2003. We believe the branch will
allow us to provide more personal and convenient service to our many customers
in Douglas County. The branch is located at 6559 E. Church Street and consists
of 2,388 square feet of office space. The facility has a drive through station
consisting of three teller lanes and one with a drive through automated teller
service machine.

     In addition, we operate a mortgage branch in Douglasville, Georgia. The
mortgage branch opened on August 1, 2002 and is approximately 1,200 square feet.
It is located at 8601 Baldwin Parkway, Suite 101, Douglasville, Douglas County,
Georgia. The lease for the mortgage branch expires on June 30, 2004 and will not
be renewed.

ITEM 3.     LEGAL PROCEEDINGS

     There are no material pending legal proceedings to which the Company is a
party or of which any of its properties are subject, nor are there material
proceedings known to the Company to be contemplated by any governmental
authority.   Additionally, the Company is unaware of any material proceedings,
pending or contemplated, in which any existing or proposed director, officer or
affiliate, or any principal security holder of the Company or any associate of
any of the foregoing, is a party or has an interest adverse to the Company.


                                       17
<PAGE>
ITEM  4.     SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

     None.


                                     PART II

ITEM 5.     MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS
            AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES

     (a)     The Company closed its initial public offering of securities on
February 28, 2002.  All sales of securities by the Company in 2001 were
registered under the Securities Act.  There is currently no established market
for the Company's common stock, and an active trading market is not likely to
develop.  The Company does not have any plans to list its common stock on any
stock exchange or on the over-the-counter market.  As a result, investors who
need or wish to dispose of all or any part of their common stock may be unable
to do so except in private, directly negotiated sales.

(b)     On March 19, 2004, the Company had 438 shareholders of record who owned
an aggregate of 1,200,000 shares.

(c)     The Company has paid no dividends on its common stock since its
organization. The principal source of the Company's cash flow, including cash
flow to pay dividends to its shareholders, will be dividends that the Bank pays
to the Company as its sole shareholder.  Statutory and regulatory limitations
will apply to the Bank's payment of dividends to the Company, as well as to the
Company's payment of dividends to its shareholders.  For a complete discussion
of restrictions on dividends, see "Part I-Item 1. Description of
Business-Supervision and Regulation-Payment of Dividends."


                                       18
<PAGE>
ITEM 6.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
            RESULTS OF OPERATIONS

                                     GENERAL

West  Metro  Financial Services, Inc. is a bank holding company headquartered in
Dallas, Georgia organized to own all of the common stock of its bank subsidiary,
First  National  Bank  West  Metro.  The  principal  activity  of the bank is to
provide banking services to domestic markets, principally in Paulding County and
Douglas  County,  Georgia.  The bank is primarily regulated by the Office of the
Comptroller  of the Currency ("OCC") and undergoes periodic examinations by this
regulatory agency.  Our bank holding company is regulated by the Federal Reserve
Bank  and  also  is  subject  to  periodic  examinations.

In  2001,  we  commenced an initial public offering of up to 1,200,000 shares of
our  common  stock.  The stock sale resulted in the issuance of 1,200,000 shares
at  a  price  of  $10.00  per  share.  The  offering  resulted  in  capital  of
$11,866,858, net of offering expenses of $113,964.  The bank opened for business
on  March  25, 2002 at the Intersection of Macland Road and Highway 120, Dallas,
Georgia  30132.

The  following  discussion  describes  our  results  of  operations  for 2003 as
compared  to  2002  and also analyzes our financial condition as of December 31,
2003  as  compared  to  December 31, 2002.  Like most community banks, we derive
most  of  our income from interest we receive on our loans and investments.  Our
primary  source of funds for making these loans and investments is our deposits,
on  which we pay interest.  Consequently, one of the key measures of our success
is  our  amount  of net interest income, or the difference between the income on
our  interest-earning  assets, such as loans and investments, and the expense on
our  interest-bearing liabilities, such as deposits.  Another key measure is the
spread  between  the yield we earn on these interest-earning assets and the rate
we  pay  on  our  interest-bearing  liabilities.

We  have  included  a  number  of  tables  to assist in our description of these
measures.  For  example,  the "Average Balances" table shows the average balance
during  2003 and 2002 of each category of our assets and liabilities, as well as
the yield we earned or the rate we paid with respect to each category.  A review
of this table shows that our loans typically provide higher interest yields than
do  other  types of interest earning assets, which is why we intend to channel a
substantial  percentage  of  our  earning  assets  into  our  loan  portfolio.
Similarly,  the  "Rate/Volume  Analysis"  table  helps demonstrate the impact of
changing interest rates and changing volume of assets and liabilities during the
years  shown.  We also track the sensitivity of our various categories of assets
and  liabilities  to  changes  in  interest  rates,  and  we  have  included  a
"Sensitivity  Analysis Table" to help explain this.  Finally, we have included a
number of tables that provide detail about our investment securities, our loans,
and  our  deposits.

Of  course,  there  are risks inherent in all loans, so we maintain an allowance
for  loan  losses  to  absorb  possible losses on existing loans that may become
uncollectible.  We establish and maintain this allowance by charging a provision
for  loan  losses  against  our operating earnings.  In the following section we
have  included  a detailed discussion of this process, as well as several tables
describing  our  allowance  for  loan  losses.

In  addition  to  earning  interest on our loans and investments, we earn income
through  fees  and  other  expenses we charge to our customers.  We describe the
various  components  of  this  noninterest  income,  as  well as our noninterest
expense,  in  the  following  discussion.

The  following  discussion and analysis also identifies significant factors that
have  affected  our  financial position and operating results during the periods
included  in  the  accompanying  financial statements.  We encourage you to read
this  discussion  and  analysis in conjunction with the financial statements and
the  related  notes  and the other statistical information also included in this
report.
                           FORWARD-LOOKING STATEMENTS

This  report  contains  "forward-looking  statements"  relating  to,  without
limitation,  future economic performance, plans and objectives of management for
future  operations,  and  projections of revenues and other financial items that
are  based  on  the  beliefs  of  management, as well as assumptions made by and
information  currently  available  to  management.  The  words  "may,"  "will,"
"anticipate," "should," "would," "believe," "contemplate," "expect," "estimate,"
"continue,"  and "intend," as well as other similar words and expressions of the
future, are intended to identify forward-looking statements.  Our actual results
may  differ  materially  from  the  results  discussed  in  the  forward-looking
statements,  and  our  operating  performance each quarter is subject to various
risks  and  uncertainties  that  are discussed in detail in our filings with the
Securities  and  Exchange  Commission,  including,  without  limitation:

     -    the  effects  of  future  economic  conditions;
     -    governmental  monetary and fiscal policies, as well as legislative and
          regulatory  changes;


                                       19
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

     -    changes  in  interest  rates  and  their  effect  on  the  level  and
          composition  of  deposits,  loan  demand,  and  the  values  of  loan
          collateral,  securities  and  other  interest-sensitive  assets  and
          liabilities;
     -    our  ability  to  control costs, expenses, and loan delinquency rates;
          and
     -    the  effects  of  competition  from  other  commercial banks, thrifts,
          mortgage  banking  firms,  consumer  finance companies, credit unions,
          securities  brokerage  firms,  insurance  companies,  money market and
          other  mutual  funds and other financial institutions operating in our
          market  area  and  elsewhere,  including  institutions  operating
          regionally,  nationally,  and  internationally,  together  with  such
          competitors offering banking products and services by mail, telephone,
          computer  and  the  Internet.

                          CRITICAL ACCOUNTING POLICIES

We  have  adopted  various  accounting policies, which govern the application of
accounting  principles generally accepted in the United States of America in the
preparation  of  our  financial statements.  Our significant accounting policies
are  described  in  note  1  in  the  footnotes  to  the  consolidated financial
statements  at  December  31,  2003  included  elsewhere  in this annual report.

We  believe  that  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.  Please  refer  to  the portion of
management's  discussion  and  analysis  of  financial  condition and results of
operations that addresses the allowance for loan losses for a description of our
processes  and  methodology  for  determining  the  allowance  for  loan losses.

                              RESULTS OF OPERATIONS

OVERVIEW

Net  earnings  for  2003 was $370,474 or $.31 per common share compared to a net
loss  of  $524,910  or  $.44  per common share in 2002.  Our operational results
depend to a large degree on net interest income, which is the difference between
the  interest  income  received  from our investments (such as loans, investment
securities,  federal  funds sold) and interest expense, which is paid on deposit
liabilities  and  other  borrowings.  Net interest income was $2,383,680 for the
year  ended  December 31, 2003 compared to net interest income of $1,144,245 for
the  year  ended  December  31,  2002.

The provision for loan losses in 2003 was $402,626 compared to $500,000 in 2002.
The  provision  for  loan  losses continues to reflect our estimate of potential
losses  inherent in the loan portfolio and the creation of an allowance for loan
losses  adequate  to  absorb  such  losses.

Other  operating  income for the year ended December 31, 2003, totaled $526,739,
representing  a  $214,512  (69%) increase from December 31, 2002.  This increase
was primarily associated with the increase in mortgage loan origination fees due
to  the  increase  demand  for  mortgage loans resulting from the lower mortgage
rates  during  2003,  as  well as our increased focus on developing our mortgage
lending  business.  The increase associated with service charges and fees is due
to  the  increase  in  the number of our customers during 2003.  Other operating
expenses  in  2003  were $2,382,546, a $901,164 (61%) increase compared with the
2002 amount, primarily due to an increase in salaries and employee benefits paid
related  to  additional  employees  hired  in  2003.

In  2003,  we  recognized  a previously unrecognized net deferred tax benefit of
$245,227 as it became more likely than not that we would be able to realize this
benefit.  In  2002,  we  recognized  no  income tax benefit due to the fact that
realization of such a benefit was dependent upon future earnings of our company.

NET  INTEREST  INCOME

For  the year ended December 31, 2003, net interest income totaled $2,383,680 as
compared to $1,144,245 for the same period in 2002.  Interest income from loans,
including  fees,  increased  $2,111,112  or 150% for the year ended December 31,
2003.  This  increase  in  income  was  partially  offset  by increased interest
expense,  which totaled $1,262,631 for the year ended December 31, 2003 compared
to  $431,224 in 2002.  The increase in net interest income is due to the overall
growth  in  the volume of interest earning assets, partially offset by decreases
in overall weighted average interest rates.  The net interest margin realized on
earning  assets and the interest rate spread were 3.96% and 3.41%, respectively,
for the year ended December 31, 2003.  For the year ended December 31, 2002, the
net  interest  margin  was  5.25%  and  the  interest  rate  spread  was  4.18%.


                                       20
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED


AVERAGE BALANCES AND INTEREST RATES

The  table  below  shows  the  average  balance outstanding for each category of
interest  earning assets and interest-bearing liabilities for 2003 and 2002, and
the average rate of interest earned or paid thereon.  Average balances have been
derived  from  the  daily  balances throughout the period indicated.  Yields and
rates  for  2002  are  computed  using  annualized  income  and expense amounts.

<TABLE>
<CAPTION>
                                                               For the Years Ended December 31,
                                             -----------------------------------------------------------------
                                                            2003                             2002
                                             -------------------------------  --------------------------------
                                               Average               Yield/     Average                Yield/
                                               Balance    Interest    Rate      Balance     Interest    Rate
                                             -----------  ---------  -------  ------------  ---------  -------
<S>                                          <C>          <C>        <C>      <C>           <C>        <C>
Assets:
  Interest earning assets:
    Loans (including loan fees)              $53,574,769  3,522,574    6.58%  $ 22,710,122  1,411,462    8.04%
    Investment securities                      1,845,334     71,883    3.90%     2,270,340     92,095    5.25%
    Federal funds sold                         4,831,728     51,854    1.07%     2,474,547     51,672    2.70%
    Other                                              -          -       -        748,120     20,240    3.50%
                                             -----------  ---------           ------------  ---------

      Total interest earning assets           60,251,831  3,646,311    6.05%    28,203,129  1,575,469    7.23%

  Other non-interest earning assets            2,865,739                         3,582,583
                                             -----------                      ------------

        Total assets                         $63,117,570                      $ 31,785,712
                                             ===========                      ============

Liabilities and shareholders' equity:
  Interest-bearing liabilities:
    Deposits:
      Interest-bearing demand                $ 3,925,434     72,420    1.84%  $  1,872,653     39,420    2.72%
      Savings and money market                18,399,628    405,953    2.21%     5,464,598     98,325    2.33%
      Time                                    25,457,783    783,937    3.08%    10,749,368    286,612    3.45%
    Other                                         24,797        321    1.29%       242,402      6,867    3.77%
                                             -----------  ---------           ------------  ---------

        Total interest-bearing liabilities    47,807,642  1,262,631    2.64%    18,329,021    431,224    3.05%
                                                          ---------                         ---------

Other non-interest bearing liabilities         4,584,338                         2,749,801
Shareholders' equity                          10,725,590                        10,706,890
                                             -----------                      ------------

      Total liabilities and
          shareholders' equity               $63,117,570                      $ 31,785,712
                                             ===========                      ============

Excess of interest-earning assets
  over interest bearing liabilities          $12,444,189                      $  9,874,108
                                             ===========                      ============

Net interest income                                       2,383,680                         1,144,245
                                                          =========                         =========

Net interest spread                                                    3.41%                             4.18%
                                                                     =======                           =======

Net interest margin                                                    3.96%                             5.25%
                                                                     =======                           =======
</TABLE>

Non-accrual  loans and the interest income which was recorded on these loans, if
any,  are  included  in  the  yield  calculation  for  loan


                                       21
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

VOLUME/RATE ANALYSIS

Net  interest  income  can  also  be analyzed in terms of the impact of changing
rates  and  changing  volume.  The  following  table  describ

<TABLE>
<CAPTION>
                                                 2003 Compared to 2002
                                         Increase (decrease) due to changes in
                                         -------------------------------------
                                            Volume       Rate     Net Change
                                          -----------  ---------  -----------
<S>                                       <C>          <C>        <C>
Interest income on:
    Loans (including loan fees)           $2,438,888   (327,776)   2,111,112
    Investment securities                     (8,497)   (11,715)     (20,212)
    Federal funds sold                           499       (317)         182
    Other                                    (20,240)         -      (20,240)
                                          -----------  ---------  -----------
                                           2,410,650   (339,808)   2,070,842
                                          -----------  ---------  -----------
Interest expense on:
    Interest-bearing demand and savings       46,778    (13,778)      33,000
    Savings & Money Market                   314,624     (6,996)     307,628
    Time                                     539,819    (42,494)     497,325
    Other                                     (3,804)    (2,742)      (6,546)
                                          -----------  ---------  -----------
                                             897,417    (66,010)     831,407
                                          -----------  ---------  -----------
                                          $1,513,233   (273,798)   1,239,435
                                          ===========  =========  ===========
</TABLE>

INTEREST RATE SENSITIVITY AND ASSET LIABILITY MANAGEMENT

Interest  rate sensitivity measures the timing and magnitude of the repricing of
assets  compared  with  the repricing of liabilities and is an important part of
asset/liability  management  of  a  financial  institution.  The  objective  of
interest  rate  sensitivity  management  is  to  generate  stable  growth in net
interest  income,  and  to  control  the  risks  associated  with  interest rate
movements.  Management  constantly  reviews  interest rate risk exposure and the
expected  interest  rate  environment  so  that  adjustments  in  interest  rate
sensitivity  can be timely made.  Since the assets and liabilities of a bank are
primarily  monetary  in  nature  (payable  in  fixed, determinable amounts), the
performance  of  a  bank  is  affected more by changes in interest rates than by
inflation.  Interest  rates  generally  increase  as  the  rate  of  inflation
increases,  but  the  magnitude  of  the  change  in  rates may not be the same.

Net  interest  income  is  the  primary  component  of  net income for financial
institutions.  Net  interest  income  is affected by the timing and magnitude of
repricing  of as well as the mix of interest sensitive and noninterest sensitive
assets and liabilities.  "Gap" is a static measurement of the difference between
the  contractual  maturities or repricing dates of interest sensitive assets and
interest  sensitive  liabilities  within the following twelve months.  Gap is an
attempt  to  predict  the  behavior of the bank's net interest income in general
terms  during periods of movement in interest rates.  In general, if the bank is
asset  sensitive,  more of its interest sensitive assets are expected to reprice
within  twelve  months  than  its  interest  sensitive liabilities over the same
period.  In a rising interest rate environment, assets repricing more quickly is
expected  to  enhance  net  interest income.  Alternatively, decreasing interest
rates would be expected to have the opposite effect on net interest income since
assets  would  theoretically  be  repricing at lower interest rates more quickly
than  interest  sensitive  liabilities.  Although  it  can  be used as a general
predictor,  Gap  as  a  predictor  of  movements  in  net  interest  income  has
limitations  due  to the static nature of its definition and due to its inherent
assumption  that  all  assets  will  reprice  immediately  and  fully  at  the
contractually  designated  time.  At December 31, 2003, the bank, as measured by
Gap,  is  in  a  liability  sensitive  position.  Management  has  several tools
available  to  it  to  evaluate and affect interest rate risk, including deposit
pricing  policies  and  changes  in  the  mix  of  various  types  of assets and
liabilities.


                                       22
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

The  following  table  summarizes  the  amounts  of  interest-earning assets and
interest-bearing liabilities outstanding at December 31, 2003, that are expected
to  mature, prepay, or reprice in each of the future time periods shown.  Except
as  stated  below,  the  amount  of assets or liabilities that mature or reprice
during  a  particular  period  was determined in accordance with the contractual
terms  of  the  asset  or  liability.  Adjustable rate loans are included in the
period  in  which interest rates are next scheduled to adjust rather than in the
period  in  which  they  are  due,  and  fixed  rate  loans  and mortgage-backed
securities  are  included  in  the  periods  in which they are anticipated to be
repaid  based  on  scheduled  maturities.  The  bank's  savings  accounts  and
interest-bearing  demand accounts (NOW and money market deposit accounts), which
are generally subject to immediate withdrawal, are included in the "Three Months
or  Less"  category, although historical experience has proven these deposits to
be  more  stable  over  the  course  of  a  year.

<TABLE>
<CAPTION>
                                             At December 31, 2003
                                           Maturing or Repricing in
                                           ------------------------

                                              3 Months     4 Months to     1 to 5       Over 5
                                               or Less      12 Months       Years        Years       Total
                                            -------------  ------------  -----------  -----------  ----------
<S>                                         <C>            <C>           <C>          <C>          <C>
Interest-earning assets:
  Investment securities                     $          -             -    1,002,187    1,013,834    2,016,021
  Loans                                        9,333,000    27,039,000   28,612,355    1,636,000   66,620,355
                                            -------------  ------------  -----------  -----------  ----------

        Total interest-earning assets          9,333,000    27,039,000   29,614,542    2,649,834   68,636,376
                                            -------------  ------------  -----------  -----------  ----------

Interest-bearing liabilities:
  Deposits:
    Savings and demand                        27,071,450             -            -            -   27,071,450
    Time deposits                              3,264,000    16,440,455    7,160,000            -   26,864,455
    Federal funds purchased                    1,003,000             -            -            -    1,003,000
                                            -------------  ------------  -----------  -----------  ----------

        Total interest-bearing liabilities    31,338,450    16,440,455    7,160,000            -   59,938,905
                                            -------------  ------------  -----------  -----------  ----------

Interest sensitive difference per period    $(22,005,450)   10,598,545   22,454,542    2,649,834   13,697,462
                                            -------------  ------------  -----------  -----------  ==========
Cumulative interest sensitivity difference  $(22,005,450)  (11,406,905)  11,047,637   13,697,471
                                            =============  ============  ===========  ===========
Cumulative difference to total assets            (30.66)%      (15.89)%       15.39%       19.08%
                                            =============  ============  ===========  ===========
</TABLE>

At  December  31, 2003, the difference between the bank's liabilities and assets
repricing  or  maturing  within  one  year was $11,406,905.  Due to an excess of
liabilities  repricing  or  maturing  within  one year, a rise in interest rates
would  cause  the  bank's  net interest income to decrease, whereas a decline in
interest  rates  would  cause  the  bank's  net  interest  income  to  increase.

Certain  shortcomings  are  inherent  in the method of analysis presented in the
foregoing  table.  For example, although certain assets and liabilities may have
similar  maturities  or periods of repricing, they may reflect changes in market
interest  rates  differently.  Additionally,  certain  assets,  such  as
adjustable-rate  mortgages,  have  features  that  restrict  changes in interest
rates, both on a short-term basis and over the life of the asset.  Other factors
which  may  affect the assumptions made in the table include changes in interest
rates,  pre-payment rates, early withdrawal levels, and the ability of borrowers
to  service  their  debt.

PROVISION  AND  ALLOWANCE  FOR  LOAN  LOSSES

The  provision  for  loan  losses  is  the  charge  to  operating  earnings that
management believes is necessary to maintain the allowance for loan losses at an
adequate  level.  The  provision  charged  to  expense was $402,626 for the year
ended  December 31, 2003 as compared to $500,000 for the year ended December 31,
2002.  The  change  in  the  provision was the result of loans growing faster in
2002  than  in  2003.  The  loan portfolio increased $26,907,385 during the year
ended  December  31,  2003  as  compared  to growth of $39,712,970 in 2002.  The
allowance  for loan losses was 1.35% of gross loans at December 31, 2003.  There
are  risks  inherent  in  making  all loans, including risks with respect to the
period  of  time over which loans may be repaid, risks resulting from changes in
economic  and  industry  conditions,  risks  inherent in dealing with individual
borrowers,  and,  in  the  case  of  a  collateralized


                                       23
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

loan,  risks  resulting  from  uncertainties  about  the  future  value  of  the
collateral.  We  anticipate  maintaining  an allowance for loan losses based on,
among other things, historical experience, an evaluation of economic conditions,
and  regular  reviews of delinquencies and loan portfolio quality.  Our judgment
about  the adequacy of the allowance is based upon a number of assumptions about
future  events, which we believe to be reasonable, but which may not prove to be
accurate.  Thus, there is a risk that charge-offs in future periods could exceed
the  allowance  for  loan losses or that substantial additional increases in the
allowance  for  loan  losses  could be required.  Additions to the allowance for
loan  losses  would  result  in  a decrease of our net income and, possibly, our
capital.

The following table summarizes information concerning the allowance for loan
losses:

<TABLE>
<CAPTION>
                                                         December 31,
                                                 ---------------------------
                                                      2003          2002
                                                 --------------  -----------
<S>                                              <C>             <C>
Total loans outstanding, end of year             $  66,620,355   39,712,970
                                                 --------------  -----------
Average loans outstanding                        $  63,645,095   38,884,909
                                                 --------------  -----------
Balance at beginning of year                     $     500,000            -
Charge-offs:
  Commercial                                                 -            -
  Real estate - construction                                 -            -
  Real estate - mortgage                                     -            -
  Consumer                                               4,941            -
                                                 --------------  -----------

    Total charge-offs                                    4,941            -
                                                 --------------  -----------

Recoveries:
  Commercial                                                 -            -
  Real estate - construction                                 -            -
  Real estate - mortgage                                     -            -
  Consumer                                               1,682            -
                                                 --------------  -----------

    Total recoveries                                     1,682            -
                                                 --------------  -----------

Net charge-offs                                          3,259            -

Additions charged to operations                        402,626      500,000
                                                 --------------  -----------

Balance at end of year                           $     899,367      500,000
                                                 ==============  ===========
Ratio of net charge-offs during the period to
  average loans outstanding during the period             0.01%         -  %
Allowance for loan losses to loans, end of year           1.35%        1.26%
</TABLE>

The following table summarizes past due and non-accrual loans, other real estate
and repossessions, and income that would have been reported on non-accrual loans
as  of  December  31,  2003  and  2002:

<TABLE>
<CAPTION>
                                          December 31,
                                         -------------
                                          2003    2002
                                         -------  ----
<S>                                      <C>      <C>
Other real estate and repossessions      $     -     -
Accruing loans 90 days or more past due   10,000     -
Non-accrual loans                              -     -
Interest on non-accrual loans which
  would have been reported                     -     -
</TABLE>


                                       24
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

NONINTEREST  INCOME  AND  EXPENSE

Noninterest  income  for  the  year  ended December 31, 2003 totaled $526,739 as
compared  to  $312,227  for the year ended December 31, 2002.  This increase was
primarily  associated with the increase in mortgage loan origination fees due to
the  increase  demand for mortgage loans resulting from the lower mortgage rates
during  2003  as  well as our increased focus on developing our mortgage lending
business.  The  increase  of  $37,984  in service charges and fees is due to the
increase  in  the  number  of  our  customers  during  2003.

Total noninterest expense for the year ended December 31, 2003 was $2,382,546 as
compared  to $1,481,382 for the same period in 2002.  Salaries and benefits, the
largest  component of noninterest expense, totaled $1,531,592 for the year ended
December  31, 2003, compared to $996,040 for the same period a year ago.  Salary
and  benefits  expense  primarily  increased due to an increase in the number of
employees  and  to other annual salary increases.  The increase in equipment and
occupancy  expenses  of  $146,199  is  due  to  costs  associated  with  the new
Douglasville Office that opened in January, 2003.  Other operating expenses were
$589,231  for  the  year ended December 31, 2003 as compared to $369,818 for the
year  ended December 31, 2002.  This increase in noninterest expense is directly
related  to  the  overall  growth  of  the  bank.

                               FINANCIAL CONDITION

Total  assets  increased  $25,792,293, or 56% from December 31, 2002 to December
31, 2003.  The primary source of growth in assets was net loans, which increased
$26,508,000  or  68%  during  the  year  ended  December  31,  2003.  Investment
securities  available-for-sale  increased  $220,701  from  December  31, 2002 to
$2,016,021  at  December 31, 2003.  Total deposits increased $24,454,825 or 70%,
from  the  December  31,  2002  amount  of  $34,719,753.

INTEREST-EARNING  ASSETS

LOANS

Gross loans totaled $66,620,355 at December 31, 2003, an increase of $26,907,385
or  67.75%  since  December 31, 2002.  The largest increase in loans was in Real
Estate  -  Mortgage loans, which increased $21,786,429 or 275% to $29,695,904 at
December 31, 2003.  Real Estate - Construction loans increased $2,353,277 during
2003.  Balances  within the major loans receivable categories as of December 31,
2003  and  December  31,  2002  are  as  follows  (amounts  in  thousands):

<TABLE>
<CAPTION>
                                   2003             2002
                            ----------------  ----------------
<S>                         <C>      <C>      <C>      <C>
Real estate - construction  $34,249   51.41%  $29,441   74.13%
Real estate - mortgage       26,047   39.10%    7,909   19.92%
Commercial and industrial     4,359    6.54%    1,649    4.15%
Consumer and other            1,965    2.95%      714    1.80%
                            -------  -------  -------  -------

                            $66,620  100.00%  $39,713  100.00%
                            =======  =======  =======  =======
</TABLE>

As  of  December  31, 2003, maturities of loans in the indicated classifications
were  as  follows  (amounts  are  presented  in  thousands):

<TABLE>
<CAPTION>
               Commercial and   Real Estate
                 Industrial     Construction  Total
               ---------------  ------------  ------
<S>            <C>              <C>           <C>
Maturity
-------------

Within 1 year  $         3,197        32,248  35,445
1 to 5 years             1,162         2,001   3,163
               ---------------  ------------  ------

  Totals       $         4,359        34,249  38,608
               ===============  ============  ======
</TABLE>


                                       25
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED


As  of  December  31,  2003,  the  interest  terms  of  loans  in  the indicated
classification  for  the  indicated  maturity ranges are as follows (amounts are
presented  in  thousands):

<TABLE>
<CAPTION>
                            Fixed Interest   Variable Interest
                                 Rates             Rates        Total
                            ---------------  -----------------  -----
<S>                         <C>              <C>                <C>
Commercial and industrial
    1 to 5 years            $           280                882  1,162

Real estate - construction
    1 to 5 years                        495              1,506  2,001
                            ---------------  -----------------  -----

                            $           775              2,388  3,163
                            ===============  =================  =====
</TABLE>

INVESTMENT  SECURITIES

Investment securities available-for-sale increased to $2,016,021 at December 31,
2003  from  $1,795,320  at December 31, 2002. This increase was the result of an
increase in deposits being invested in securities.  All of the bank's marketable
investment  securities  were  designated  as  available-for-sale at December 31,
2003.

The  following  table  presents the investments by category at December 31, 2003
and  2002:

<TABLE>
<CAPTION>

                                               2003                        2002
                                   ---------------------------  --------------------------

                                                    Estimated                   Estimated
                                   Amortized Cost   Fair Value  Amortized Cost  Fair Value
                                   ---------------  ----------  --------------  ----------
<S>                                <C>              <C>         <C>             <C>
United States government agencies  $       999,386   1,002,188               -           -
Mortgage-backed securities               1,015,200   1,013,833       1,772,515   1,795,320
                                   ---------------  ----------  --------------  ----------

                                   $     2,014,586   2,016,021       1,772,515   1,795,320
                                   ===============  ==========  ==============  ==========
</TABLE>

The following table presents the maturities of investment securities at carrying
value  and  the  weighted average yields for each range of maturities presented.
Yields  are  based  on  amortized cost of securities.

<TABLE>
<CAPTION>
                                   U S Government    Weighted
                                 and State, County    Average   Mortgage-backed   Weighted Average
                                   and Municipals     Yields       Securities          Yields
                                 ------------------  ---------  ----------------  -----------------
<S>                              <C>                 <C>        <C>               <C>
Maturities at December 31, 2003
-------------------------------

After 1 through 5 years          $          999,386      3.32%  $              -                - %
After 10 years                                    -         -%         1,015,200              3.98%
                                 ------------------  ---------  ----------------  -----------------

Totals                           $          999,386      3.32%  $      1,015,200              3.98%
                                 ==================  =========  ================  =================
</TABLE>

Mortgage  backed  securities  are included in the maturities categories in which
they  are  anticipated  to  be  repaid  based  on  scheduled  maturities.


                                       26
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

DEPOSITS

At  December  31,  2003,  total  deposits  increased  by $24,454,825 or 70% from
December  31, 2002.  Noninterest-bearing demand deposits increased $3,289,003 or
169%  and  interest-bearing  deposits  increased  $1,816,351  or  16%.

Balances  within  the  major  deposit  categories  as  of  December 31, 2003 and
December  31,  2002  as  follows  (amounts  in  thousands):

<TABLE>
<CAPTION>
                                                 2003              2002
                                           ----------------  ----------------
<S>                                        <C>      <C>      <C>      <C>
Noninterest-bearing demand deposits        $ 5,239    8.85%  $ 1,950    5.62%
Interest-bearing demand deposits            13,481   22.78%   11,665   33.60%
Savings deposits                            13,590   22.97%      996    2.87%
Certificates of deposit $100,000 and over   13,703   23.16%   11,259   32.43%
Other time deposits                         13,162   22.24%    8,850   25.48%
                                           -------  -------  -------  -------

                                           $59,175  100.00%  $34,720  100.00%
                                           =======  =======  =======  =======
</TABLE>

The average balance of deposits and the average rates paid on such deposits are
summarized for the periods indicated in the following table.

<TABLE>
<CAPTION>
                                        December 31,
                             ----------------------------------
                                   2003              2002
                             ---------------  -----------------
                            (Amounts are presented in thousands)

                             Amount    Rate    Amount    Rate
                            --------  ------  --------  -------
<S>                         <C>       <C>     <C>       <C>
Noninterest-bearing demand  $  4,390      -   $  2,157       -
Interest-bearing demand        3,925   1.84%     1,873    2.72%
Savings and money market      18,400   2.21%     5,465    2.33%
Time deposits                 25,458   3.08%    10,749    3.45%
                            --------          --------

    Totals                  $ 52,172          $ 20,244
                            ========          ========
</TABLE>

Maturities of time certificates of deposit of $100,000 or more outstanding at
December 31, 2003, are summarized as follows (amounts are presented in
thousands):

<TABLE>
<CAPTION>
<S>                        <C>
Within 3 months            $ 1,319
After 3 through 6 months     2,065
After 6 through 12 months    6,272
After 12 months              4,047
                           -------

Total                      $13,703
                           =======
</TABLE>

CAPITAL  RESOURCES

Total  shareholders'  equity  increased from $11,123,082 at December 31, 2002 to
$11,480,306  at  December  31,  2003.  This  increase  was  attributable  to net
earnings  for  the  period.

Bank  holding companies, such as us, and their banking subsidiaries are required
by  banking regulators to meet certain minimum levels of capital adequacy, which
are  expressed  in the form of certain ratios.  Capital is separated into Tier 1
capital  (essentially  common  shareholders'  equity less intangible assets) and
Tier  2  capital  (essentially the allowance for loan losses limited to 1.25% of
risk-weighted  assets).  The  first two ratios, which are based on the degree of
credit  risk  in  our  assets,  provide  the  weighting  of


                                       27
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

assets  based  on assigned risk factors and include off-balance sheet items such
as  loan  commitments  and  stand-by  letters  of  credit.
The  ratio  of  Tier 1 capital to risk-weighted assets must be at least 4.0% and
the ratio of total capital (Tier 1 capital plus Tier 2 capital) to risk-weighted
assets  must  be  at  least  8.0%.  The  capital  leverage ratio supplements the
risk-based  capital  guidelines.

Banks  and  bank  holding  companies are required to maintain a minimum ratio of
Tier  1  capital  to  adjusted  quarterly  average  total  assets  of  3.0%.

The  following table summarizes the bank's risk-based capital ratios at December
31,  2003:

Tier 1 capital (to risk-weighted assets)     16.70%
Total capital (to risk-weighted assets)      17.95%
Tier 1 capital (to total average assets)     15.66%

LIQUIDITY

The  bank  must  maintain,  on  a  daily  basis,  sufficient  funds to cover the
withdrawals  from  depositors'  accounts and to supply new borrowers with funds.
To  meet  these  obligations,  the  bank  keeps  cash on hand, maintains account
balances with its correspondent banks, and purchases and sells federal funds and
other  short-term  investments.  Asset and liability maturities are monitored in
an  attempt to match the maturities to meet liquidity needs. It is the policy of
the  bank  to  monitor  its  liquidity to meet regulatory requirements and their
local  funding  requirements.

The bank maintains relationships with correspondent banks that can provide funds
to  it  on short notice, if needed.  Presently, the bank has arrangements with a
commercial  bank  for  short  term  unsecured  advances  up  to  $2,700,000.

Cash  and  cash  equivalents  as  of December 31, 2003 decreased $1,484,289 from
December  31,  2002.  Cash  provided by operating activities totaled $611,102 in
2003,  while inflows provided by financing activities totaled $25,457,825, which
was  attributable  to  an  increase  in  deposits.

During  2003,  investing  activities  used  $27,553,216.  Investing  activities
included  net loans made to customers of approximately $26,907,000 and purchases
of  investment  securities  available-for-sale  of $999,375, partially offset by
sales  and  maturities  of  investment  securities  available-for-sale  of
approximately  $750,000.

OFF BALANCE SHEET ARRANGEMENTS

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  consist  of  commitments  to  extend  credit and standby
letters  of  credit.  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.  Standby  letters of credit are written conditional commitments issued
by  the  bank  to  guarantee  the  performance  of  a customer to a third party.
Commitments  generally  have fixed expiration dates or other termination clauses
and  may  require  payment of a fee.  A commitment involves, to varying degrees,
elements  of credit and interest rate risk in excess of the amount recognized in
the balance sheets.  Our exposure to credit loss in the event of non-performance
by  the other party to the instrument is represented by the contractual notional
amount  of  the  instrument.

Since certain commitments are expected to expire without being drawn upon, the
total commitment amounts do not necessarily represent future cash requirements.
We use the same credit policies in making commitments to extend credit as we do
for on-balance-sheet instruments.  Collateral held for commitments to extend
credit varies but may include accounts receivable, inventory, property, plant,
equipment, and income-producing commercial properties.

The following table summarizes our off-balance-sheet financial instruments whose
contract  amounts  represent  credit  risk  as  of  December  31,  2003:

Commitments to extend credit     $  16,454,000
Standby letters of credit        $     627,000


                                       28
<PAGE>
           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                      AND RESULTS OF OPERATIONS, CONTINUED

Management is not aware of any significant concentrations of loans to classes of
borrowers or industries that would be affected similarly by economic conditions.
Although the bank's loan portfolio is diversified, a substantial portion of its
borrowers' ability to honor the terms of their loans is dependent on the
economic conditions in Paulding and Douglas Counties and surrounding areas.

INFLATION

Inflation  impacts the growth in total assets in the banking industry and causes
a  need  to  increase equity capital at higher than normal rates to meet capital
adequacy  requirements.  We  cope  with  the  effects  of  inflation through the
management  of interest rate sensitivity gap position, by periodically reviewing
and  adjusting  its  pricing  of  services to consider current costs and through
managing  our  level  of  net  income  relative  to  our dividend payout policy.

SELECTED RATIOS

The following table sets out certain ratios for the years indicated.

<TABLE>
<CAPTION>
                                    2003    2002
                                   ------  -------
<S>                                <C>     <C>
 Net income to:
   Average shareholders' equity     3.45%  (6.43)%
   Average assets                   0.59%  (2.22)%
 Dividends to net earnings             -        -
 Average equity to average assets  16.99%   33.68%
</TABLE>

RECENT ACCOUNTING PRONOUNCEMENTS

Accounting  standards  that  have  been  issued  or  proposed  by  the Financial
Accounting  Standards  Board  and  other  standard  setting entities that do not
require  adoption until a future date are not expected to have a material impact
on  our  consolidated  financial  statements  upon  adoption.

ITEM 7.     CONSOLIDATED FINANCIAL STATEMENTS

     The Consolidated Financial Statements of the Company are incorporated
herein by reference to Exhibit 13.1 of this Annual Report on Form 10-KSB for the
year ended December 31, 2003.

ITEM 8.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
            FINANCIAL DISCLOSURE

     None.

ITEM 8A.    CONTROLS AND PROCEDURES

     At the end of the period covered by this report, the Company carried out an
evaluation,  under  the  supervision and with the participation of the Company's
management,  including the Company's Chief Executive Officer and Chief Financial
Officer,  of  the  effectiveness  of  the  design and operation of the Company's
disclosure  controls and procedures pursuant to Exchange Act Rule 13a-14.  Based
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


                                       29
<PAGE>
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 changes in the Company's
internal controls over financial reporting during the quarter ended December 31,
2003 that have materially affected, or are reasonably likely to material affect,
the Company's internal control over financial reporting.


                                    PART III

ITEM 9.     DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     Set forth below is information regarding the directors and executive
officers of the Company.  Each of the directors of the Company also serves as a
director of the Bank.  The Company, as the sole shareholder of the Bank, will
nominate each of the following individuals to serve as a director of the Bank at
the Bank's shareholders' meeting.  Directors of the Bank serve for a term of one
year and are elected by the Company each year at the Bank's annual meeting of
shareholders.  The Bank's officers are appointed by and hold office at the will
of its board of directors.

     The following table sets forth for each director and executive officer of
the Company (1) the person's name; (2) his or her age at December 31, 2003; (3)
the year he or she was first elected as a director of the Company; and (4) his
or her positions with the Company other than as a director and his or her other
business experience for the past five years.

<TABLE>
<CAPTION>
                              DIRECTOR  POSITION WITH THE COMPANY
NAME (AGE)                    SINCE     AND BUSINESS EXPERIENCE
----------------------------  --------  -------------------------------------------------------
<S>                           <C>       <C>
J. Michael Womble (51)            2001  President, Chief Executive Officer and Chairman of
                                        the Company; Working Chairman of the Bank;
                                        previously Chief Executive Officer of First National
                                        Bank of Paulding County and Chairman of the Board
                                        of Directors; Organizer/Owner of Southlife Homes,
                                        Inc. (residential building and development)

Johnny L. Blankenship (45)        2001  President and Owner of Blankenship Homes
                                        (residential building and development)

William A. Carruth, Jr. (45)      2001  Vice Chairman of the Board of Directors of the
                                        Company and the Bank; President and Owner of
                                        Carruth Wood Products (engineer and survey
                                        supplies) and Aiken Grading Company (construction
                                        contractors)

Harold T. Echols (53)             2001  Project Manager for AT&T Communications

John F. Hall (39)                 2004  President and Chief Executive Officer of the Bank;
                                        previously Senior Vice President, Chief Credit Officer
                                        and Senior Lending Officer of Cornerstone Bank in
                                        Atlanta; previously Senior Vice President of Bank of
                                        America in Atlanta


                                       30
<PAGE>
                              DIRECTOR  POSITION WITH THE COMPANY
NAME (AGE)                    SINCE     AND BUSINESS EXPERIENCE
----------------------------  --------  -------------------------------------------------------

Kathy Hulsey (50)                       Chief Financial Officer and Senior Vice President of
                                        the Company and the Bank; previously Chief
                                        Financial Officer and Senior Vice President of
                                        Premier National Bank of Dalton and Vice President
                                        and Controller of First National Bank of Paulding
                                        County

G. Wayne Kirby (65)               2001  President, Chief Executive Officer and  Owner of
                                        PKW Supply Company, Inc. (building supplies)

Claude K. Rainwater (65)          2001  Owner of Rainwater Motor Company (used car
                                        company), Style Financial Acceptance (automobile
                                        financing) and Independent Car Rental, Inc.

James C. Scott, Jr. (58)          2001  Executive Vice President of MATSCO, Inc., parent
                                        company of C.W. Matthews Contracting Company
                                        (construction company)

Joey Tidwell (46)                 2002  President and Owner of JMC Development, Tidwell
                                        Properties and Homeplace Communities, Inc.
</TABLE>

     The Company is filing this Annual Report on Form 10-KSB pursuant to Section
15(d) of the Securities and Exchange Act and is not subject to filings required
by Section 16 of the Securities and Exchange Act.

MEETINGS AND COMMITTEES OF THE BOARD

     During the year ended December 31, 2003, the Board of Directors of the
Company held 6 meetings and the Board of Directors of the Bank held 12 meetings.
All incumbent directors attended at least 75% of the total number of meetings of
the Company's Board of Directors and committees of the board on which they
serve.

     AUDIT AND COMPLIANCE COMMITTEE.  The Board of Directors has established an
Audit and Compliance Committee, which recommends to the Board of Directors the
independent public accountants to be selected to audit the Company's annual
financial statements, evaluates internal accounting controls, reviews the
adequacy of the internal audit budget, personnel and plan, and determines that
all audits and exams required by law are performed fully, properly, and in a
timely fashion.  The Audit and Compliance Committee is also responsible for
overseeing compliance with the Community Reinvestment Act.  The Board of
Directors has not adopted a written charter for the Audit Committee.  During the
fiscal year ended December 31, 2003, the Audit and Compliance Committee held 2
meetings.

     The Audit and Compliance Committee members are Claude Rainwater, James
Scott, Harold Echols and William A. Carruth, Jr.  Although none of the Audit and
Compliance Committee members meets the criteria specified under applicable
Securities and Exchange Commission ("SEC") regulations for an "audit committee
financial expert," the Board believes that each has the financial knowledge,
business experience and independent judgment necessary for service on the Audit
and Compliance Committee.


                                       31
<PAGE>
CODE OF ETHICS

     The Company has adopted a code of ethics that applies to its principal
executive, financial and accounting officers.  A copy of the code of ethics may
be obtained, without charge, upon written request addressed to First National
Bank West Metro, 1242 Marietta Highway, Dallas, Georgia, 30157, Attention:
Chief Financial Officer.  The request may be delivered by letter to the address
set forth above or by fax to the attention of the Company's Chief Financial
Officer at (678) 363-8212.

ITEM  10.     EXECUTIVE  COMPENSATION

COMPENSATION OF EXECUTIVE OFFICERS

     SUMMARY COMPENSATION TABLE. The following table presents the total
compensation of the Company paid during fiscal years 2003, 2002 and 2001 to its
chief executive officer and to the Bank's chief executive officer in 2003.  No
other executive officer of the Company earned over $100,000 in salary and bonus
during fiscal years 2003, 2002 and 2001.
<TABLE>
<CAPTION>

                                    Annual Compensation              Long Term Compensation
                             -----------------------------------  ----------------------------
                                                      Other       Number of
                                                      Annual      Securities     All Other
                              Salary     Bonus     Compensation   Underlying  Compensation(1)
Name and Position      Year     ($)       ($)          ($)         Options          ($)
----------------------------------------------------------------------------------------------
<S>                    <C>   <C>        <C>       <C>             <C>         <C>
James M. Womble,       2003  $ 144,230  $ 10,000  $            0      24,000  $              0
President and Chief    2002  $ 150,000  $ 10,000  $            0      21,000  $              0
Executive Officer of   2001  $  77,575  $      0  $            0           0  $              0
the Company


John F. Hall,          2003  $  96,000  $      0  $            0      15,000  $              0
President and Chief
Executive Officer of
the Bank


Steve Chatham,         2003  $ 124,616  $ 10,000  $            0      15,000  $              0
Executive Vice
President of the Bank
<FN>
     (1)  We have omitted information on "perks" and other personal benefits
          because the aggregate value of these items does not meet the minimum
          amount required for disclosure under the Securities and Exchange
          Commission's regulations.
</TABLE>

     EMPLOYMENT AGREEMENTS.

     J. MICHAEL WOMBLE. The Company entered into an employment agreement with J.
Michael Womble on May 1, 2001. Pursuant to an amended employment agreement, Mr.
Womble serves as President and Chief Executive Officer of the Company and
Chairman of the Board of the Bank. At the end of the initial three-year term of
Mr. Womble's employment agreement, and at the end of each


                                       32
<PAGE>
succeeding day, the agreement will be extended for an additional day so that the
unexpired term is always three years, unless either of the parties gives notice
of intent not to extend the agreement.

     Mr. Womble's annual base salary under the amended agreement is $100,000.
Mr. Womble also receives health insurance, membership fees to a country club,
and a monthly automobile allowance in the amount of $500.

     Pursuant to Mr. Womble's employment agreement, the Company granted him a
non-qualified option to purchase 21,000 shares of the Company's common stock at
$10.00 per share on March 25, 2002, the date the Bank opened for business.  Mr.
Womble's option was issued under our stock incentive plan and constitutes
approximately 18.6% of the shares reserved for issuance under the plan.  Mr.
Womble's option generally becomes exercisable in equal one-third annual
increments over a three-year period beginning on the one-year anniversary of the
Bank opening for business.  In addition, the Company will grant Mr. Womble an
annual option to purchase 3,000 shares of our common stock if the Bank
successfully reaches its designated performance targets for the fiscal year.
The annual option will be granted at an exercise price per share no greater than
fair market value as determined on the grant date.

     We will be obligated to pay Mr. Womble his base salary for 12 months if one
of the following terminating events occurs:

     -    Mr. Womble becomes permanently disabled;

     -    the Bank terminates Mr. Womble's employment without cause; or

     -    Mr. Womble terminates his employment for cause.

     Additionally, upon a change of control of the Company, Mr. Womble will be
entitled to severance compensation in an amount equal to three times his then
effective base salary if the Company or its successor terminates his employment
other than for cause.  Cause for terminating employment is defined in the
agreement.

     The agreement also generally provides that, for a period of 12 months
following the termination of Mr. Womble's employment, he will not compete with
the Bank in the banking business nor solicit our customers nor our employees.
The non-competition and non-solicitation provisions of the agreement only apply
if Mr. Womble terminates his employment without cause or in connection with a
change of control, or if we terminate his employment with cause.

     JOHN F. HALL.  The Company entered into an employment agreement with John
F. Hall on February 10, 2003 pursuant to which Mr. Hall serves as President and
Chief Executive Officer of the Bank.  At the end of the initial three-year term
of Mr. Hall's employment agreement, and at the end of each succeeding day, the
agreement will be extended for an additional day so that the unexpired term is
always three years, unless either of the parties gives notice of intent not to
extend the agreement.

     Mr. Hall's annual base salary under the agreement is $130,800.  Beginning
with the year ending December 31, 2003, he may be entitled to receive a bonus
equal to 25% of his base salary if the Bank meets or exceeds the board of
directors' performance targets for the Bank.  Mr. Hall also receives health
insurance, membership fees to a country club, and a monthly automobile allowance
in the amount of $500.

     Pursuant to Mr. Hall's employment agreement, the Company granted him an
incentive stock option to purchase 15,000 shares of the Company's common stock
at $10.00 per share on May 22, 2003.  Mr. Hall's option was issued under our
stock incentive plan and constitutes approximately 13.3% of the


                                       33
<PAGE>
shares reserved for issuance under the plan. Mr. Hall's option generally becomes
exercisable in equal one-third annual increments over a three-year period
beginning on May 22, 2004. In addition, the Company will grant Mr. Hall an
annual option to purchase 2,000 shares of our common stock if the Bank
successfully reaches its designated performance targets for the fiscal year. The
annual option will be granted at an exercise price per share no greater than
fair market value as determined on the grant date.

     We will be obligated to pay Mr. Hall his base salary for 12 months if one
of the following terminating events occurs:

     -    Mr. Hall becomes permanently disabled;

     -    the Bank terminates Mr. Hall's employment without cause; or

     -    Mr. Hall terminates his employment for cause.

     Additionally, upon a change of control of the Company, Mr. Hall will be
entitled to severance compensation in an amount equal to three times his then
effective base salary if the Company or its successor terminates his employment
other than for cause.  Cause for terminating employment is defined in the
agreement.

     The agreement also generally provides that, for a period of 12 months
following the termination of Mr. Hall's employment, he will not compete with the
Bank in the banking business nor solicit our customers nor our employees.  The
non-competition and non-solicitation provisions of the agreement only apply if
Mr. Hall terminates his employment without cause or in connection with a change
of control, or if we terminate his employment with cause.

     STEVE CHATHAM.  The Company entered into an employment agreement with Steve
Chatham on March 4, 2003 pursuant to which Mr. Chatham serves as Executive Vice
President and Senior Credit Officer of the Bank.  At the end of the initial
three-year term of Mr. Chatham's employment agreement, and at the end of each
succeeding day, the agreement will be extended for an additional day so that the
unexpired term is always three years, unless either of the parties gives notice
of intent not to extend the agreement.

     Mr. Chatham's annual base salary under the agreement is $120,000.
Beginning with the year ending December 31, 2003, he may be entitled to receive
a bonus of $20,000 if the Bank meets or exceeds the board of directors'
performance targets for the Bank.  Mr. Chatham also receives health insurance,
membership fees to a country club, and a monthly automobile allowance in the
amount of $500.

     Pursuant to Mr. Chatham's employment agreement, the Company granted him an
incentive stock option to purchase 15,000 shares of the Company's common stock
at $10.00 per share on May 22, 2003.  Mr. Chatham's option was issued under our
stock incentive plan and constitutes approximately 13.3% of the shares reserved
for issuance under the plan.  Mr. Chatham's option generally becomes exercisable
in equal one-third annual increments over a three-year period beginning on May
22, 2004.

     We will be obligated to pay Mr. Chatham his base salary for 12 months if
one of the following terminating events occurs:

     -    Mr. Chatham becomes permanently disabled;

     -    the Bank terminates Mr. Chatham's employment without cause; or

     -    Mr. Chatham terminates his employment for cause.


                                       34
<PAGE>
     Additionally, upon a change of control of the Company, Mr. Chatham will be
entitled to severance compensation in an amount equal to three times his then
effective base salary if the Company or its successor terminates his employment
other than for cause.  Cause for terminating employment is defined in the
agreement.

     The agreement also generally provides that, for a period of 12 months
following the termination of Mr. Chatham's employment, he will not compete with
the Bank in the banking business nor solicit our customers nor our employees.
The non-competition and non-solicitation provisions of the agreement only apply
if Mr. Chatham terminates his employment without cause or in connection with a
change of control, or if we terminate his employment with cause.

DIRECTOR COMPENSATION

     Neither the Company nor the Bank will separately compensate its directors
for their service as directors until the Bank earns a cumulative profit.
Thereafter, the Bank will adopt compensatory policies for its directors that
conform to applicable law.

OPTION GRANTS IN FISCAL YEAR 2003

     The following table sets forth information at December 31, 2003, and for
the fiscal year then ended, concerning stock options granted to the executive
officer listed below.  The listed executive officer did not exercise any options
to purchase common stock of the Company during 2003.  We have not granted any
stock appreciation rights, restricted stock or stock incentives other than stock
options.

<TABLE>
<CAPTION>
                                      Percent of
                      Number of     Total Options
                     Securities       Granted to
                     Underlying      Employees in   Exercise Price
NAME               Options Granted   Fiscal Year       Per Share     Expiration Date
-----------------  ---------------  --------------  ---------------  ---------------
<S>                <C>              <C>             <C>              <C>
J. Michael Womble           24,000           44.4%  $         10.00  March 25, 2008
John F. Hall                15,000           27.8%  $         10.00  May 22, 2013
Steve Chatham               15,000           27.8%  $         10.00  May 22, 2013
</TABLE>

OPTIONS EXERCISED IN FISCAL YEAR 2003

     No options were exercised by our named executive officers in fiscal year
2003.

AGGREGATED OPTION EXERCISES IN LAST FISCAL YEAR AND FISCAL YEAR-END OPTION
VALUES

     The following table shows the number of shares underlying stock options
held by the executive officers named in the summary compensation table.  Also
reported are the values for "in-the-money" options which represent the positive
spread between the exercise price of any such existing stock options and the
year-end price of the Bank's common stock.  No stock options were exercised in
2002 by the executive officers named in the summary compensation table.


                                       35
<PAGE>
<TABLE>
<CAPTION>
                                                   Number of Securities     Value of Unexercised In-the-
                                                  Underlying Unexercised          Money Options at
                                               Options at December 31, 2003      December 31, 2003
                      Shares
                   Acquired on       Value
Name               Exercise (#)  Realized ($)   Exercisable  Unexercisable  Exercisable   Unexercisable
<S>                <C>           <C>            <C>          <C>            <C>           <C>
J. Michael Womble             0  $           0        7,000         38,000  $      7,700  $       41,800
John F. Hall                  0  $           0            0         15,000  $          0  $       16,500
Steve Chatham                 0  $           0            0         15,000  $          0  $       16,500
</TABLE>

ITEM 11.    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
            RELATED STOCKHOLDER MATTERS

     The following table sets forth the number of shares of the Company's common
stock beneficially owned as of March 1, 2004 by (a) each executive officer and
director of the Company; (b) all executive officers and directors, as a group;
and (c) the shareholders owning more than 5% of the Company's outstanding common
stock.  The information shown below is based upon information furnished to the
Company by the named persons.  Unless otherwise indicated, each person is the
record owner and has sole voting and investment power with respect to his or her
shares.  The Company is unaware of any other shareholder owning more than 5% of
the Company's outstanding common stock.  Additionally, the address of each
person is 1242 Marietta Highway, Dallas, Georgia 30157.

     Information relating to beneficial ownership of the Company is based upon
"beneficial ownership" concepts set forth in the rules promulgated under the
Securities Exchange Act. Under these rules a person is deemed to be a
"beneficial owner" of a security if that person has or shares "voting power,"
which includes the power to vote or to direct the voting of a security, or
"investment power," which includes the power to dispose or to direct the
disposition of a security. Under the rules, more than one person may be deemed
to be a beneficial owner of the same securities. A person is also deemed to be a
beneficial owner of any security as to which that person has the right to
acquire beneficial ownership within sixty (60) days of the date of this Annual
Report on Form 10-KSB.

<TABLE>
<CAPTION>



                              NUMBER     PERCENT
NAME                          OF SHARES  OF CLASS  NATURE OF BENEFICIAL OWNERSHIP
----------------------------  ---------  --------  ---------------------------------------------------
<S>                           <C>        <C>       <C>
DIRECTORS:
----------

J. Michael Womble (51)          226,765      18.7  Includes 200 shares owned by Mr. Womble's
                                                   spouse as a joint tenant with his spouse's parent.
                                                   Also includes 14,000 shares that Mr. Womble has
                                                   the right to acquire by exercising options that are
                                                   exercisable within 60 days after the record date.

Johnny L. Blankenship (45)       40,000       3.3

William A. Carruth, Jr. (45)     80,200       6.7  Includes 900 shares owned by Mr. Carruth's spouse.

Harold T. Echols (53)            20,000       1.7


                                       36
<PAGE>
John F. Hall (39)                10,400        __  Includes (a) 1,400 shares owned by the George H.
                                                   Hall family and (b) 5,000 shares that Mr. Hall has
                                                   the right to acquire by exercising options that are
                                                   exercisable within 60 days after the record date.

Kathy Hulsey (50)                 3,200         *  Includes 200 shares owned by Ms. Hulsey's spouse.

G. Wayne Kirby (65)              21,500       1.8  Includes 1,500 shares owned by Mr. Mr. Kirby's
                                                   spouse.

Claude K. Rainwater (65)         20,000       1.7

James C. Scott, Jr. (58)         42,500       3.4  Includes 10,000 shares owned by MATSCO, Inc.,
                                                   of which Mr. Scott is Executive Vice President.

Joey Tidwell (46)                90,000       7.5

ALL DIRECTORS AND EXECUTIVE     554,565      45.7
OFFICERS AS A GROUP (10
PERSONS)

ADDITIONAL 5% SHAREHOLDERS:
---------------------------

Wayne Tibbits                    62,500       5.2  Includes 10,000 shares owned by Mr. Tibbits'
                                                   spouse.

The Crestwood Suites Trust       60,000       5.0
<FN>
_______________________
*    Less than 1% of class
</TABLE>

     The following table sets forth information regarding the Company's equity
compensation plans under which shares of the Company's common stock are
authorized for issuance.  The only equity compensation plan maintained by the
Company is the West Metro Financial Services, Inc. 2001 Stock Incentive Plan.

<TABLE>
<CAPTION>
                                                                                       Number of shares
                                                                                    remaining available for
                           Number of securities to be   Weighted-average exercise  future issuance under the
                             issued upon exercise of            price of                Plan (excludes
                               outstanding options         outstanding options       outstanding options)
                           ---------------------------  -------------------------  --------------------
<S>                        <C>                          <C>                        <C>
Equity compensation plans
approved by security
holders
                                     80,000                       10.00                   33,000
Equity compensation plans
not approved by security
holders
                                    300,000 (1)                   10.00                        0

Total                               380,000                       10.00                   33,000
<FN>
______________________
(1) Each of our organizing directors devoted substantial time and effort to the
activities necessary to organize the Company and the Bank. Additionally, each of
them agreed to guarantee indebtedness of the Company. In consideration of these
efforts and in


                                       37
<PAGE>
recognition of their financial risks, each of our organizing directors received
a warrant to purchase a number of shares of common stock equal to the number of
shares he or she purchased in the offering, up to an aggregate maximum of
300,000. Since our organizing directors purchased an aggregate of more than
300,000 shares in the initial public offering, the aggregate maximum number of
shares subject to the warrants was allocated among our organizing directors on a
pro rata basis based on the number of shares the director purchased in the
initial public.
</TABLE>

ITEM 12.     CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     Our directors, officers and their affiliates, including members of their
families or businesses and other organizations with which they are associated,
make banking and other transactions in the ordinary course of business with the
Bank.  It is the policy of the Bank that any loans or other transactions with
those persons or entities (a) are made in accordance with applicable law and the
Bank's lending policies, (b) are made on substantially the same terms, including
price, interest rates and collateral, as those prevailing at the time for
comparable transactions with other unrelated parties of similar standing, and
(c) are not expected to involve more than the normal risk of collectability or
present other unfavorable features to the Company and the Bank.  In addition,
all transactions with our directors, officers and their affiliates are on terms
no less favorable than could be obtained from an unaffiliated third party, and
must be approved by a majority of our directors, including a majority of the
directors who do not have an interest in the transaction.

In addition to the transactions in the ordinary course of business, we have
entered into the following transactions with the directors indicated:

     -    GRADING OF MAIN OFFICE SITE. We employed Aiken Grading Company to
          provide grading services for our main office site. William A. Carruth,
          Jr., our Vice Chairman of the Board of Directors, is president and
          owner of Aiken Grading. We paid Aiken Grading $146,521 for these
          services. We believe that the price of the grading services provided
          by Aiken Grading was no more expensive than what we could have
          obtained from an unrelated third party.

     -    PAVING OF MAIN OFFICE SITE. We employed C.W. Mathews Contracting
          Company to pave our main office site. James C. Scott, one of our
          directors serves as executive vice president of MATSCO, Inc., the
          parent company of C.W. Mathews. We paid C.W. Mathews $62,589 to pave
          our main office site. We do not believe that we could have received a
          better price from an unrelated third party.

ITEM 13.     EXHIBITS, LISTS AND REPORTS ON FORM 8-K

(A)     EXHIBITS

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

3.1       Articles of Incorporation(1)

3.2       Bylaws(1)

4.1       Specimen Common Stock Certificate(1)

4.2       See Exhibits 3.1, 3.2 and 3.3 for provisions of the Articles of
          Incorporation and Bylaws defining rights of holders of the Common
          Stock


                                       38
<PAGE>
Exhibit
Number    Exhibit
-------   -------

10.1      Purchase Agreement by and between West Metro Financial Services, Inc.
          and J. Michael Womble and Thomas Aiken dated May 30, 2001 (permanent
          facility)(1)

10.2      Purchase Agreement by and between West Metro Financial Services, Inc.
          and Southern Bank Supplies, Inc. dated August 21, 2001 (temporary
          facility)(3)

10.3      Form of West Metro Financial Services, Inc. Organizers' Warrant
          Agreement (1)

10.4      West Metro Financial Services, Inc. 2001 Stock Incentive Plan(1) (2)

10.5      Form of Non-Qualified Option and form of an Incentive Stock Option(1)
          (2)

10.6      Employment Agreement dated as of June 1, 2001 by and among First
          National Bank West Metro (In Organization), West Metro Financial
          Services, Inc. and J. Michael Womble(1) (2)

10.7      Employment Agreement dated as of June 29, 2001 by and among First
          National Bank West Metro (In Organization), West Metro Financial
          Services, Inc. and Kathy Hulsey(1) (2)

10.8      Amended Employment Agreement dated as of January 1, 2004 by and among
          First National Bank West Metro, West Metro Financial Services, Inc.
          and J. Michael Womble (2)

10.9      Employment Agreement dated as of March 4, 2004 by and among First
          National Bank West Metro, West Metro Financial Services, Inc. and
          Steve Chatham (2)

10.10     Employment Agreement dated as of February 10, 2004 by and among First
          National Bank West Metro, West Metro Financial Services, Inc. and John
          F. Hall (2)

13.1      West Metro Financial Services Inc. Consolidated Financial Statements
          as of December 31, 2003

22.1      Subsidiaries of Registrant.

24.1      Power of Attorney (appears on the signature pages to this Annual
          Report on Form 10-KSB)

31.1      Certification of Chief Executive Officer pursuant to Rule 15d-14(a) of
          the Exchange Act


                                       39
<PAGE>
Exhibit
Number    Exhibit
-------   -------

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

32.1      Certification of Chief Executive Officer pursuant to 18 U.S.C. Section
          1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
          2002

32.2      Certification of Chief Financial Officer pursuant to 18 U.S.C. Section
          1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
          2002

99.1      Proxy Statement for 2004 Annual Meeting to be held on June 3, 2004
_________________________
(1)  Previously filed as an exhibit of the same number to the Registration
     Statement on Form SB-2 (Registration No. 333-67494), as filed with the SEC
     on August 14, 2001.

(2)  Indicates a compensatory plan or contract.

(3)  Previously filed as an exhibit of the same number to Amendment No. 1 to the
     Registration Statement on Form SB-2 (Registration No. 333-67494), as filed
     with the SEC on September 26, 2001.

(B)     REPORTS ON FORM 8-K FILED IN THE FOURTH QUARTER OF 2003:  None.


           SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED
     PURSUANT TO SECTION 15(D) OF THE EXCHANGE ACT BY NON-REPORTING ISSUERS.
     The Company plans to provide its audited financial statements to
shareholders.  The Company's financial statements are included in this Annual
Report on Form 10-KSB.  See "Part II-Item 7.  Financial Statements."

ITEM 14.     PRINCIPAL ACCOUNTANT FEES AND SERVICES


     The following table sets forth the fees billed to the Company for the years
ended December 31, 2003 and 2002 by Porter Keadle Moore, LLP:

<TABLE>
<CAPTION>
                     2002     2003
                    -------  ------
<S>                 <C>      <C>

Audit fees          $36,565  31,296
Audit-related fees       --      --
Tax fees              6,100   5,250
All other fees       18,000  12,000
                    -------  ------
     Total Fees     $60,665  48,546
                    =======  ======
</TABLE>


                                       40
<PAGE>
AUDIT FEES

     Audit fees represent fees billed by PKM for professional services rendered
in connection with the (1) audit of the Company's annual financial statements
for 2003 and 2002, and (2) review of the financial statements included in the
Company's quarterly filings on Form 10-QSB and annual filings on Form 10-KSB.

AUDIT-RELATED FEES

     PKM billed no fees for audit-related services during 2003 or 2002.

TAX FEES

     Tax fees represent the aggregate fees billed in each of the last two fiscal
years for professional services rendered by PKM for tax compliance, tax advice
and tax planning.

ALL OTHER FEES

     Other fees during 2003 or 2002 were billed for outsourced internal audit
procedures as pre-approved by the Audit and Compliance Committee.

     The fees billed by PKM are pre-approved by the Audit and Compliance
Committee of the Company in accordance with the policies and procedures for the
Audit and Compliance Committee.  The Audit and Compliance Committee pre-approves
all audit and non-audit services provided by the Company's independent auditors
and may not engage the independent auditors to perform any prohibited non-audit
services.  For 2003, 100% of the fees incurred were pre-approved.


                                       41
<PAGE>
                                   SIGNATURES

     Pursuant  to  the  requirements  of  Section  13 or 15(d) of the Securities
Exchange  Act  of  1934, the Company has duly caused this Report to be signed on
its  behalf  by  the  undersigned,  thereunto  duly  authorized.


WEST METRO FINANCIAL SERVICES, INC.



                                    By:  /s/ J. Michael Womble
                                         -------------------------------------
                                         J. Michael Womble
                                         President and Chief Executive Officer

Date:     March 26, 2004



                                POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears on
the signature page to this Report constitutes and appoints J. Michael Womble and
William A. Carruth, Jr., his or her true and lawful attorneys-in-fact and
agents, with full power of substitution and resubstitution, for him or her and
in his or her name, place, and stead, in any and all capacities, to sign any and
all amendments to this Report, and to file the same, with all exhibits hereto,
and other documents in connection herewith with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, full power and
authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully to all intents and purposes as
they might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents or their substitute or substitutes, may lawfully do
or cause to be done by virtue hereof.

     Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report has been signed below by the following persons on behalf of the Company
and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
        SIGNATURE                         TITLE                  DATE
-----------------------------  ---------------------------  --------------

<S>                            <C>                          <C>
                               President, Chief Executive
                               Officer and Chairman of the
 /s/ J. Michael Womble         Board of Directors           March 26, 2004
-----------------------------
J. Michael Womble*


 /s/ Johnny L. Blankenship     Director                     March 26, 2004
-----------------------------
Johnny L. Blankenship


                                       42
<PAGE>
 /s/ William A. Carruth, Jr.   Director                     March 26, 2004
-----------------------------
William A. Carruth, Jr.


 /s/ Harold T. Echols          Director                     March 26, 2004
-----------------------------
Harold T. Echols


 /s/ John F. Hall              Director                     March 26, 2004
-----------------------------
John F. Hall


 /s/ Kathy Hulsey              Chief Financial Officer      March 26, 2004
-----------------------------
Kathy Hulsey**


 /s/ G. Wayne Kirby            Director                     March 26, 2004
-----------------------------
G. Wayne Kirby


 /s/ Claude K. Rainwater, Jr.  Director                     March 26, 2004
-----------------------------
Claude K. Rainwater, Jr.


 /s/ James C. Scott, Jr.       Director                     March 26, 2004
-----------------------------
James C. Scott, Jr.



 /s/ Joey Tidwell              Director                     March 26, 2004
-----------------------------
Joey Tidwell

<FN>
_____________________________
*   Principal executive officer.
** Principal financial and accounting officer.
</TABLE>


                                       43
<PAGE>
                                  EXHIBIT INDEX
                                  -------------

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

3.1       Articles of Incorporation(1)

3.2       Bylaws(1)

4.1       Specimen Common Stock Certificate(1)

4.2       See Exhibits 3.1, 3.2 and 3.3 for provisions of the Articles of
          Incorporation and Bylaws defining rights of holders of the Common
          Stock

10.1      Purchase Agreement by and between West Metro Financial Services, Inc.
          and J. Michael Womble and Thomas Aiken dated May 30, 2001 (permanent
          facility)(1)

10.2      Purchase Agreement by and between West Metro Financial Services, Inc.
          and Southern Bank Supplies, Inc. dated August 21, 2001 (temporary
          facility)(3)

10.3      Form of West Metro Financial Services, Inc. Organizers' Warrant
          Agreement (1)

10.4      West Metro Financial Services, Inc. 2001 Stock Incentive Plan(1) (2)

10.5      Form of Non-Qualified Option and form of an Incentive Stock Option(1)
          (2)

10.6      Employment Agreement dated as of June 1, 2001 by and among First
          National Bank West Metro (In Organization), West Metro Financial
          Services, Inc. and J. Michael Womble(1) (2)

10.7      Employment Agreement dated as of June 29, 2001 by and among First
          National Bank West Metro (In Organization), West Metro Financial
          Services, Inc. and Kathy Hulsey(1) (2)

10.8      Amended Employment Agreement dated as of January 1, 2004 by and among
          First National Bank West Metro, West Metro Financial Services, Inc.
          and J. Michael Womble (2)

10.9      Employment Agreement dated as of March 4, 2004 by and among First
          National Bank West Metro, West Metro Financial Services, Inc. and
          Steve Chatham (2)

10.10     Employment Agreement dated as of February 10, 2004 by and among First
          National Bank West Metro, West Metro Financial Services, Inc. and John
          F. Hall (2)


                                       44
<PAGE>
Exhibit
Number    Exhibit
-------   -------

13.1      West Metro Financial Services Inc. Consolidated Financial Statements
          as of December 31, 2003

22.1      Subsidiaries of Registrant.

24.1      Power of Attorney (appears on the signature pages to this Annual
          Report on Form 10-KSB)

31.1      Certification of Chief Executive Officer pursuant to Rule 15d-14(a) of
          the Exchange Act

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

32.1      Certification of Chief Executive Officer pursuant to 18 U.S.C. Section
          1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
          2002

32.2      Certification of Chief Financial Officer pursuant to 18 U.S.C. Section
          1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
          2002

99.1      Proxy Statement for 2004 Annual Meeting to be held on June 3, 2004
_________________________
(1)  Previously filed as an exhibit of the same number to the Registration
     Statement on Form SB-2 (Registration No. 333-67494), as filed with the SEC
     on August 14, 2001.

(2)  Indicates a compensatory plan or contract.

(3)  Previously filed as an exhibit of the same number to Amendment No. 1 to the
     Registration Statement on Form SB-2 (Registration No. 333-67494), as filed
     with the SEC on September 26, 2001.


                                       45
<PAGE>