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

                               FORM 10-QSB

             Quarterly Report Pursuant to Section 13 or 15(d) of
                   the Securities Exchange Act of 1934

For the quarterly period                    Commission file number
ended June 30, 1997                                333-13583

                      FIRST GEORGIA COMMUNITY CORP.
              (Name of small business issuer in its charter)

       Georgia                                        58-2261088
(State of Incorporation)                           (I.R.S. Employer
                                                Identification No.)
155-B Lyons Street
P. O. Box 1534
Jackson, Georgia                                            30233
(Address of principal executive offices)                 (Zip Code)

                              (770) 504-1090
                       (Issuer's telephone number)

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

The number of shares outstanding of Registrant's class of common stock at
August 12, 1997 was 758,458 shares of common stock.


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

                               Page 1 of 12
                         Exhibit Index on Page 9
<PAGE>
                        TABLE OF CONTENTS

                              PART I                        Page


ITEM 1.   FINANCIAL STATEMENTS.............................  3

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS
          OR PLAN OF OPERATION.............................  8 




                             PART II

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K ................  9

SIGNATURES ................................................  10

<PAGE>
                  PART I -- FINANCIAL INFORMATION


Item 1.  FINANCIAL STATEMENTS


                 Index to Financial Statements
      of First Georgia Community Corp. (a Development Stage Corporation)
                                                                   


Financial Statements:

  Balance Sheet                                          4

  Statements of Operations                               5

  Statements of Cash Flows                               6

  Notes to Financial Statements                          7

<PAGE>

                  PART I - FINANCIAL INFORMATION
                       FINANCIAL STATEMENTS

                  FIRST GEORGIA COMMUNITY CORP.

                  (A Development Stage Company)

                          BALANCE SHEET
                          JUNE 30, 1997
                           (Unaudited)


                              Assets
<TABLE>
<S>                                              <C>
Cash                                             $     9,235
Interest-bearing deposits in banks                 6,070,000
Deferred stock issue and organization
  costs                                              101,708
Premises and equipment                             1,258,973
Other assets                                          31,919

          Total Assets                           $ 7,471,835


          Liabilities and Stockholder's Equity (Deficit)

Stock subscription deposits                      $ 7,541,930
Advances from organizers                              50,000
Other liabilities                                      6,973

          Total liabilities                        7,598,903

Commitments and contingent liabilities

Stockholder's Equity (deficit)

          Common stock, par value $5;
          10,000,000 shares authorized;

            1 share issued and outstanding                 5

          Capital surplus                                  5

          Deficit accumulated during the
          development stage                         (127,078)

             Total stockholder's equity
             (deficit)                               127,068)

             Total liabilities and stockholder's
             equity (deficit)                    $ 7,471,835
</TABLE>
The accompanying notes are an integral part of these financial statements.

<PAGE>

                  FIRST GEORGIA COMMUNITY CORP.

                  (A Development Stage Company)

                     STATEMENTS OF OPERATIONS
                           (Unaudited)


                                              Period from
                                               Inception
                         Three      Six        (March 15
                        Months     Months        1996)
                         Ended      Ended       Though
                        June 30,   June 30,     June 30,
                         1997       1997         1997

<TABLE>
<S>                     <C>        <C>        <C>
Interest Income         $ 64,911   $ 99,696   $ 100,157


Expenses

Interest expense           1,425      6,991      11,514
Salaries and other
  employee benefits       44,042     89,119     170,478
Occupancy and
  equipment expenses       6,524      6,524       6,524
Other operating
  expenses                23,418     29,351      38,719

  Total expenses          75,409    131,985     227,235

  Net loss              $(10,498)  $(32,289)  $(127,078)
</TABLE>

The accompanying notes are an integral part of these financial statements.

<PAGE>
                  FIRST GEORGIA COMMUNITY CORP.

                  (A Development Stage Company)

                     STATEMENT OF CASH FLOWS
                           (Unaudited)
                                                   Period from
                                                    Inception
                                                    (March 15,
                                   Six Months        1996)
                                     Ended           Through
                                    June 30,         June 30,
                                      1997             1997
<TABLE>
<S>                                <C>             <C>
OPERATING ACTIVITIES
  Net loss                         $    (32,289)   $   (127,078)
  Adjustments to reconcile
    net loss to net cash
    used in operating activities:
    Other operating activities          (15,049)        (24,946)

    Net cash used in
    operating activities                (47,338)       (152,024)

INVESTING ACTIVITIES
  Net increase in interest-
    bearing deposits in banks        (6,070,000)     (6,070,000)
  Purchase of premises and
    equipment                        (1,092,852)     (1,258,973)

    Net cash used in investing
    activities                       (7,162,852)     (7,328,973)

FINANCING ACTIVITIES
  Proceeds from sale of 
    organizational shares                    -               10
  Proceeds from (repayment
    of) advances from organizers       (315,800)         50,000
  Net proceeds from common stock
    subscriptions                     7,069,128       7,440,222

    Net cash provided by financing
    activities                        6,753,328       7,490,232

Net increase (decrease) in cash        (456,862)          9,235

Cash, beginning of period               466,097               - 

Cash, end of period                $      9,235    $      9,235

SUPPLEMENTAL DISCLOSURE OF CASH
FLOW INFORMATION
Cash paid for interest             $      6,991    $     11,514
</TABLE>
The accompanying notes are an integral part of these financial statements.

<PAGE>

                  FIRST GEORGIA COMMUNITY CORP.

                  (A Development Stage Company)

                  NOTES TO FINANCIAL STATEMENTS
                           (Unaudited)


NOTE 1.   NATURE OF BUSINESS AND BASIS OF PRESENTATION

          First Georgia Community Corp. (the "Company") was incorporated on
August 7, 1996, for the purpose of becoming a bank holding company for First
Georgia Community Bank (the "Bank").  At June 30, 1997, the Company was in 
the development stage and had no earnings from operations except for interest 
earned on subscription funds held in escrow.  The Company filed applications 
to the Board of Governors for the Federal Reserve System (the "Board") and 
the Georgia Department of Banking and Finance (the "DBF") for prior approval
to become a bank holding company.  The Company received Board approval on
December 24, 1996, and DBF approval on December 3, 1996.  The Company will
become a bank holding company within the meaning of the Federal Bank
Holding Company Act and the Georgia bank holding company law upon the
acquisition of all of the common stock of the Bank, which is projected to
occur in September of 1997, which is when the Company expects the Bank to
open for business.  The Company's plan of operations for 1997 consists 
primarily of gaining market share in the Bank's primary service area.

          The financial information included herein is unaudited; however,
such information reflects all adjustments (consisting solely of normal
recurring adjustments) which are, in the opinion of management, necessary
for a fair presentation.

          The results of operations for the six month period ended June 30,
1997 are not necessarily indicative of the results to be expected for the
full year.


NOTE 2.   COMMON STOCK OFFERING

          The Company filed a Registration Statement on Form SB-2 with the
Securities and Exchange Commission to register  an offering for sale of a
minimum of 610,000 and a maximum of 800,000 shares of the Company's $5.00
par value common stock at $10 per share.  The Company has completed its stock
offering, raising $7,584,580 by selling 758,458 shares.  The Company broke
escrow and began issuing its stock as of July 7, 1997.  All conditions to 
break escrow were met by June 30, 1997.

<PAGE>

                  FIRST GEORGIA COMMUNITY CORP.

                  (A Development Stage Company)


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR
         PLAN OF OPERATION


The Company, through its subsidiary Bank, will offer a full range of 
commercial banking services to individual, professional and business
customers in its primary service area.  These services will include personal
and business checking accounts and savings and other time certificates of
deposit.  The transaction accounts and time certificates will be at rates
competitive with those offered in the Bank's primary service area.  Customer
deposits with the Bank will be insured to the maximum extent provided by
the law through the FDIC.  The Bank plans to issue credit cards to act as 
a merchant depository for cardholder drafts under both Visa and Mastercard.
The Bank intends to offer night depository and bank-by-mail services and to 
sell travelers checks (issued by an independent entity) and cashier's checks.
The Bank does not anticipate offering trust and fiduciary services initially 
and will rely on trust and fiduciary services offered by correspondent banks
until the Bank determines that it is profitable to offer such services
directly.

Initially, the Bank anticipates deriving its income principally from interest
charged on loans and, to a lesser extent, from interest earned on
investments, from fees received in connection with the origination of loans
and from other services.  The Bank's principal expenses are anticipated to be
interest expense on deposits and operating expenses.

Management believes the Company and the Bank can satisfy future cash 
requirements indefinitely, and will not have to raise additional capital 
during the first twelve months of operations.  The Bank intends to accept 
deposits and make loans and investments in accordance with an asset and 
liability management framework that emphasizes appropriate levels of 
liquidity and interest rate risk.

Management expects to complete construction of its banking facility during
the third quarter of 1997.  Land and construction costs are currently
estimated at $1,805,000.  In addition, furnishings and equipment are expected
to cost approximately $260,000.

Management expects the Bank to employ approximately 14 employees by the end
of 1997.  Significant increases in the number of employees above this level
are not expected in the foreseeable future.

<PAGE>
                     PART II -- OTHER INFORMATION

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits

     Exhibit                                             Sequential
     Numbers                                            Page Number

     3.1*       Articles of Incorporation                       --
     3.2*       Bylaws                                          --
     10.1*      Employment Contract between John L.
                Coleman and the Company                         --
     27.1       Financial Data Schedule:  As of
                June 30, 1997, neither the
                Company nor First Georgia Community
                Bank had commenced their respective
                operations as a bank holding company
                or as a commercial bank, and neither
                will do so unless final regulatory
                approvals are obtained and the required
                capitalization of the Bank by the
                Company is obtained from proceeds of
                the Company's stock offering, which 
                has been completed as of July 7, 1997.         11
     ____________________

              *Items 3.1 through 10.1, as listed above, were previously
              filed by the Company as Exhibits (with the same respective
              Exhibit Numbers as indicated herein) to the Company's '33 Act
              Registration Statement (Registration  No. 333-13583) and such
              documents are incorporated herein by reference.

     (b)      Reports on Form 8-K

              A report on Form 8-K, dated as of July 28, 1997, was filed
              on August 1, 1997, reporting the change of principal accountant 
              for the Registrant.  Subsequently, an amended report on Form 
              8-K, dated as of July 28, 1997, was filed on August 12, 1997,
              adding the letter from the former principal accountant required
              by Item 304 of Regulation S-K to said report as an exhibit.

<PAGE>

                          SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant
caused this Report to be signed on its behalf by the undersigned, thereunto
duly authorized on August 15, 1997.


                                   GEORGIA COMMUNITY CORP.
                                   (Registrant)


Date: August 15, 1997              s/John L. Coleman
                                   John L. Coleman, President and
                                   C.E.O.


Date: August 15, 1997              s/Harry Lewis
                                   Harry Lewis, Corporate Secretary
                                   and C.A.O./C.F.O.
<PAGE>