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

FORM 10-QSB

|x                                                                                  | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
|---------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------
|                                                                                   |                                                                                         
|                                                                                   | For the quarterly period ended March 31, 2003                                           
|                                                                                   |                                                                                         
|o                                                                                  | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                                   |                                                                                         
|                                                                                   | For the transition period from __________ to __________                                 
|                                                                                   |                                                                                         
|Commission File Number:  0-24153                                                  
|                                                                                  
|First Georgia Community Corp.                                                     
|                                                                                  
|(Exact name of small business issuer as specified in its charter)                 
|                                                                                  
|Georgia                                                                            |                                                                                         
|                                                                                   |                                                                                         
|(State or other jurisdiction of incorporation or organization)                     |                                                                                         
|                                                                                   |                                                                                         
|150 Covington Street, Jackson, Georgia  30233                                     
|                                                                                  
|(Address of principal executive offices)                                          
|                                                                                  
|(770) 504-1090                                                                    
|                                                                                  
|(Issuers telephone number)                                                       
|                                                                                  
|N/A                                                                               
|                                                                                  
|(Former name, former address and former fiscal year, if changed since last report)
|                                                                                   |                                                                                         

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that
the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

|Yes x | No o
|----- | ----

State the number of shares outstanding of each
of the issuers classes of common equity, as of May 1, 2003:  927,408 shares of common stock; $5 par value

Transitional Small Business Disclosure Format

|Yes o | No x
|----- | ----

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FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

INDEX

|         |                                                                                               |                                                                                                         | Page
|-------- | --------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------- | ----
|         |                                                                                               |                                                                                                         |     
|PART I.  | FINANCIAL INFORMATION                                                                         |                                                                                                        
|         |                                                                                               |                                                                                                         |     
|         | Item 1.
Financial Statements                                                                  |                                                                                                        
|         |                                                                                               |                                                                                                         |     
|         |                                                                                               | Consolidated Balance Sheet - March 31, 2003                                                             | 3   
|         |                                                                                               |                                                                                                         |     
|         |                                                                                               | Consolidated Statements of Income and Comprehensive Income - Three Months Ended March 31, 2003 and 2002 | 4   
|         |                                                                                               |                                                                                                         |     
|         |                                                                                               | Consolidated Statements of Cash Flows - Three Months Ended March 31, 2003 and 2002                      | 5   
|         |                                                                                               |                                                                                                         |     
|         |                                                                                               | Notes to Consolidated Financial Statements                                                              | 6   
|         |                                                                                               |                                                                                                         |     
|         | Item 2.
Managements Discussion and Analysis of Financial Condition and Results of Operations | 7                                                                                                      
|         |                                                                                               |                                                                                                         |     
|         | Item 3.
Controls and Procedures                                                               | 13                                                                                                     
|         |                                                                                               |                                                                                                         |     
|PART II. | OTHER INFORMATION                                                                             |                                                                                                        
|         |                                                                                               |                                                                                                         |     
|         | Item 4 -
Submission of Matters to a Vote of Security Holders                                  | 14                                                                                                     
|         |                                                                                               |                                                                                                         |     
|         | Item 6 -
Exhibits and Reports on Form 8-K                                                     | 14                                                                                                     
|         |                                                                                               |                                                                                                         |     
|         | Signatures                                                                                    | 15                                                                                                     
|         |                                                                                               |                                                                                                         |     

2



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PART I - FINANCIAL INFORMATION

|ITEM I. | FINANCIAL STATEMENTS
|------- | --------------------

FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEET MARCH 31, 2003 (Unaudited)

|Assets                                                                                          |  |   |             | 
|----------------------------------------------------------------------------------------------- |  | - | ----------- | 
|Cash and due from banks                                                                         |  | $ | 5,295,779   | 
|Interest-bearing deposits in banks                                                              |  |   | 1,014,087   | 
|Federal funds sold                                                                              |  |   | 14,834,000  | 
|Securities available-for-sale, at fair value                                                    |  |   | 18,087,286  | 
|Restricted equity securities, at cost                                                           |  |   | 1,181,600   | 
|Loans held for sale                                                                             |  |   | 552,473     | 
|Loans                                                                                           |  |   | 105,538,376 | 
|Less allowance for loan losses                                                                  |  |   | 2,098,465   | 
|                                                                                                |  |   |             | 
|Loans, net                                                                                      |  |   | 103,439,911 | 
|                                                                                                |  |   |             | 
|Premises and equipment                                                                          |  |   | 2,611,732   | 
|Other assets                                                                                    |  |   | 8,527,980   | 
|                                                                                                |  |   |             | 
|Total assets                                                                                    |  | $ | 155,544,848 | 
|                                                                                                |  |   |             | 
|Liabilities and Stockholders' Equity                                                            |  |   |             | 
|Deposits                                                                                        |  |   |             | 
|Noninterest-bearing                                                                             |  | $ | 9,510,776   | 
|Interest-bearing                                                                                |  |   | 104,520,220 | 
|                                                                                                |  |   |             | 
|Total deposits                                                                                  |  |   | 114,030,996 | 
|Other borrowings                                                                                |  |   | 28,790,313  | 
|Other liabilities                                                                               |  |   | 924,075     | 
|                                                                                                |  |   |             | 
|Total liabilities                                                                               |  |   | 143,745,384 | 
|                                                                                                |  |   |             | 
|Commitments and contingencies                                                                   |  |   |             | 
|Stockholders equity                                                                            |  |   |             | 
|Common stock, par value $5; 10,000,000 shares authorized; 927,408 shares issued and outstanding |  |   | 4,637,040   | 
|Capital surplus                                                                                 |  |   | 5,102,988   | 
|Retained earnings                                                                               |  |   | 1,784,418   | 
|Accumulated other comprehensive income                                                          |  |   | 275,018     | 
|                                                                                                |  |   |             | 
|Total stockholders equity                                                                      |  |   | 11,799,464  | 
|                                                                                                |  |   |             | 
|Total liabilities and stockholders equity                                                      |  | $ | 155,544,848 | 
|                                                                                                |  |   |             | 

See Notes to Consolidated Financial Statements.

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FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME  THREE MONTHS ENDED MARCH 31, 2003 AND 2002 (Unaudited)

|                                                                                     |  | Three Months Ended March 31, |          
|------------------------------------------------------------------------------------ |  | ---------------------------- | ---------
|                                                                                     |  |                              |          
|                                                                                     |  | 2003                         |          
|                                                                                     |  |                              |          
|Interest income                                                                      |  |                              |          
|Loans                                                                                |  | $                            | 1,785,425
|Taxable securities                                                                   |  |                              | 175,419  
|Nontaxable securities                                                                |  |                              | 38,085   
|Deposits in banks                                                                    |  |                              | 3,078    
|Federal funds sold                                                                   |  |                              | 36,057   
|                                                                                     |  |                              |          
|Total interest income                                                                |  |                              | 2,038,064
|                                                                                     |  |                              |          
|Interest expense                                                                     |  |                              |          
|Deposits                                                                             |  |                              | 710,178  
|Other borrowings                                                                     |  |                              | 286,348  
|                                                                                     |  |                              |          
|Total interest expense                                                               |  |                              | 996,526  
|                                                                                     |  |                              |          
|Net interest income                                                                  |  |                              | 1,041,538
|Provision for loan losses                                                            |  |                              | 270,000  
|                                                                                     |  |                              |          
|Net interest income after provision for loan losses                                  |  |                              | 771,538  
|                                                                                     |  |                              |          
|Other income                                                                         |  |                              |          
|Service charges on deposit accounts                                                  |  |                              | 91,011   
|Other operating income                                                               |  |                              | 160,248  
|                                                                                     |  |                              |          
|Total other income                                                                   |  |                              | 251,259  
|                                                                                     |  |                              |          
|Other expenses                                                                       |  |                              |          
|Salaries and employee benefits                                                       |  |                              | 435,726  
|Occupancy and equipment expenses                                                     |  |                              | 96,261   
|Other operating expenses                                                             |  |                              | 385,199  
|                                                                                     |  |                              |          
|Total other expenses                                                                 |  |                              | 917,186  
|                                                                                     |  |                              |          
|Net income before income taxes                                                       |  |                              | 105,611  
|Income tax expense                                                                   |  |                              | 34,853   
|                                                                                     |  |                              |          
|Net income                                                                           |  |                              | 70,758   
|                                                                                     |  |                              |          
|Other comprehensive loss :                                                           |  |                              |          
|Unrealized losses on securities available-for-sale arising during period, net of tax |  |                              | (54,488  
|                                                                                     |  |                              |          
|Comprehensive income                                                                 |  | $                            | 16,270   
|                                                                                     |  |                              |          
|Basic earnings per share                                                             |  | $                            | 0.08     
|                                                                                     |  |                              |          
|Diluted earnings per share                                                           |  | $                            | 0.08     
|                                                                                     |  |                              |          
|Cash dividends per share                                                             |  | $                            |         
|                                                                                     |  |                              |          

See Notes to Consolidated Financial Statements.

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FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS THREE MONTHS ENDED MARCH 31, 2003 AND 2002 (Unaudited)

|                                                                                  |  | 2003 |            | 2002 |  
|--------------------------------------------------------------------------------- |  | ---- | ---------- | ---- | -
|                                                                                  |  |      |            |      |  
|OPERATING ACTIVITIES                                                              |  |      |            |      |  
|Net income                                                                        |  | $    | 70,758     |      | $
|Adjustments to reconcile net income to net cash provided by operating activities: |  |      |            |      |  
|Depreciation, amortization and accretion                                          |  |      | 81,297     |      |  
|Net decrease (Increase) in loans held for sale                                    |  |      | 26,399     |      |  
|Provision for loan losses                                                         |  |      | 270,000    |      |  
|Gain on sale of real estate                                                       |  |      | (92,083    | )    |  
|Decrease (increase) in interest receivable                                        |  |      | 116,510    |      |  
|Decrease in interest payable                                                      |  |      | (21,701    | )    |  
|Net other operating activities                                                    |  |      | 130,265    |      |  
|                                                                                  |  |      |            |      |  
|Net cash provided by operating activities                                         |  |      | 581,445    |      |  
|                                                                                  |  |      |            |      |  
|INVESTING ACTIVITIES                                                              |  |      |            |      |  
|Net decrease (increase) in interest-bearing deposits in banks                     |  |      | 353,609    |      |  
|Purchases of securities available-for-sale                                        |  |      | (3,271,139 | )    |  
|Proceeds from maturities of securities available-for-sale                         |  |      | 2,629,580  |      |  
|Net increase in federal funds sold                                                |  |      | (1,999,000 | )    |  
|Net increase in loans                                                             |  |      | (3,197,096 | )    |  
|Purchase of premises and equipment                                                |  |      | (329,851   | )    |  
|                                                                                  |  |      |            |      |  
|Net cash used in investing activities                                             |  |      | (5,813,897 | )    |  
|                                                                                  |  |      |            |      |  
|FINANCING ACTIVITIES                                                              |  |      |            |      |  
|Net increase in deposits                                                          |  |      | 7,382,745  |      |  
|Proceeds from other borrowings                                                    |  |      | 280,304    |      |  
|Proceeds from exercise of stock options                                           |  |      | 21,046     |      |  
|                                                                                  |  |      |            |      |  
|Net cash provided by financing activities                                         |  |      | 7,684,095  |      |  
|                                                                                  |  |      |            |      |  
|Net increase (decrease) in cash and due from banks                                |  |      | 2,451,643  |      |  
|Cash and due from banks, beginning of period                                      |  |      | 2,844,136  |      |  
|                                                                                  |  |      |            |      |  
|Cash and due from banks, end of period                                            |  | $    | 5,295,779  |      | $
|                                                                                  |  |      |            |      |  
|SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION                                 |  |      |            |      |  
|Cash paid during period for:                                                      |  |      |            |      |  
|Interest                                                                          |  | $    | 1,018,227  |      | $
|Income taxes                                                                      |  | $    | 2,955      |      | $
|NONCASH TRANSACTION                                                               |  |      |            |      |  
|Principal balance of loans transferred to other real estate                       |  | $    | 4,552,581  |      | $
|Financed sale of other real estate                                                |  | $    | 1,325,000  |      |  

See Notes to Consolidated Financial Statements.

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FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARYNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

|NOTE 1. | BASIS OF PRESENTATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|        | The consolidated financial information for First Georgia Community Corp. (the Company) included herein is unaudited; however, such information reflects all
adjustments (consisting solely of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim period.                                                                                                                                                                                                                                                                                                                                                                                               
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|        | The results of operations for the three month period ended March 31, 2003 are not necessarily indicative of the results to be expected for the full year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|NOTE 2. | STOCK COMPENSATION PLAN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|        | At March 31, 2003, the Company has a stock-based employee compensation plan.  The Company accounts for this plan under the recognition and measurement principles of APB
Opinion No. 25, Accounting for Stock Issued to Employees, and related Interpretations.  No stock-based employee compensation cost is reflected in net income, as all options granted under this plan had an exercise price equal to the
market value of the underlying stock on the date of grant.  The following table illustrates the effect on net income and earnings per share if the Company had applied the fair value recognition provisions of SFAS Statement No. 123,
Accounting for Stock-Based Compensation, to stock-based employee compensation.

|                                                                                                                                            |  | Three Months Ended March 31, |       
|------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------- | ------
|                                                                                                                                            |  |                              |       
|                                                                                                                                            |  | 2003                         |       
|                                                                                                                                            |  |                              |       
|Net income, as reported                                                                                                                     |  | $                            | 70,758
|Deduct: Total stock-based employee compensation expense determined under fair value based method for all awards, net of related tax
effects |  |                              | 4,902 
|                                                                                                                                            |  |                              |       
|Pro forma net income                                                                                                                        |  | $                            | 65,856
|                                                                                                                                            |  |                              |       
|Earnings per share:                                                                                                                         |  |                              |       
|Basic - as reported                                                                                                                         |  | $                            | 0.08  
|                                                                                                                                            |  |                              |       
|Basic - pro forma                                                                                                                           |  | $                            | 0.07  
|                                                                                                                                            |  |                              |       
|Diluted - as reported                                                                                                                       |  | $                            | 0.08  
|                                                                                                                                            |  |                              |       
|Diluted - pro forma                                                                                                                         |  | $                            | 0.07  
|                                                                                                                                            |  |                              |       

|NOTE 3. | CURRENT ACCOUNTING DEVELOPMENTS                                                                                                               
|------- | ----------------------------------------------------------------------------------------------------------------------------------------------
|        |                                                                                                                                               
|        | There are no recent accounting pronouncements that have had, or are expected to have, a material effect on the Companys financial statements.

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|ITEM 2. | Managements Discussion and Analysis of Financial Condition and Results of Operations
|------- | -------------------------------------------------------------------------------------

The following is
managements discussion and analysis of certain significant factors which have affected the financial position and operating results of the First Georgia Community Corp. and its bank subsidiary, First Georgia Community Bank, during the periods
included in the accompanying consolidated financial statements.

Special Cautionary Notice Regarding Forward Looking Statements

Certain of
the statements made herein under the caption Managements Discussion and Analysis of Financial Condition and Results of Operations (MD&A) are forward-looking statements for purposes of the Securities Act of 1933, as
amended (the Securities Act) and the Securities Exchange Act of 1934, as amended (the Exchange Act), and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results,
performance or achievements of First Georgia Community Corp. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.  Such forward looking statements include
statements using the words such as may, will, anticipate, should, would, believe, contemplate, expect, estimate, continue,
may, intend, or other similar words and expressions of the future.  Our actual results may differ significantly from the results we discuss in these forward-looking statements.

These forward-looking statements involve risks and uncertainties and may not be realized due to a variety of factors, including, without limitation:  the effects of future economic conditions; governmental monetary and
fiscal policies, as well as legislative and regulatory changes; the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and other interest-sensitive assets and
liabilities; interest rate risks; 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 the 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

In connection with our application of accounting principles generally
accepted in the United States, we make judgments and estimates that, in the case of determination of our allowance for loan losses, have been critical to the determination of our financial position, results of operations and cash flows.  Our
evaluation considers significant factors relative to the credit risk and loss exposure in the loan portfolio, including past due and classified loans, historical experience, underlying collateral values, and current economic conditions that may
affect the borrowers ability to repay.  The allowance for loan losses is evaluated by segmenting the loan portfolio into unclassified and classified loans.  An allowance percentage is applied to the unclassified loans to establish a
general allowance for loan losses.  The allowance percentage is determined based upon our experience specifically and the historical experience of the banking industry generally.  The classified loans, including impaired loans, are
analyzed individually in order to establish a specific allowance for loan losses.  The allowance for loan losses as a percentage of total loans was 1.99% at March 31, 2003 as compared to 2.63% at December 31, 2002.  See Results of
Operations for the Three Months Ended March 31, 2003 and 2002 for more information about the effect of the allowance and provision for loan losses.

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Liquidity and Capital Resources

As of March 31, 2003, our liquidity ratio, as determined under guidelines
established by regulatory authorities, was satisfactory.  We consider our liquidity to be adequate to meet operating and loan funding requirements.  The liquidity ratio (i.e. cash, short-term assets and marketable assets divided by
deposits and other borrowings) was approximately 23%.  As we grow, we will continue to monitor liquidity and make adjustments as deemed necessary.

As our loan demand has continued to
increase, we have used brokered deposits as a funding source.  Total brokered deposits amounted to $19 million, or approximately 17% of total deposits, as of March 31, 2003.  These deposits are readily obtainable at rates not significantly
different from rates that we pay on deposits in our local market.

At March 31, 2003, our capital ratios were adequate based on regulatory minimum capital requirements. The minimum capital
requirements and the actual capital ratios on a consolidated and bank-only basis are as follows:

|                           |  | Actual       |       | Minimum Regulatory Requirement | 
|-------------------------- |  | ------------ | ----- | ------------------------------ | 
|                           |  |              |       |                               
|                           |  | Consolidated |       | Bank                           | 
|                           |  |              |       |                                | 
|Leverage capital ratios    |  |              | 9.55  | %                              | 
|Risk-based capital ratios: |  |              |       |                                | 
|Core capital               |  |              | 11.41 |                                | 
|Total capital              |  |              | 14.36 |                                | 

Off-Balance Sheet Risk

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

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

|                             |  | March 31, 2003 |          
|---------------------------- |  | -------------- | ---------
|                             |  |                |          
|Commitments to extend credit |  | $              | 8,445,000
|Letters of credit            |  |                | 545,000  
|                             |  |                |          
|                             |  | $              | 8,990,000
|                             |  |                |          

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

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

Financial Condition

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

|                                   |  | March 31, 2003         |         | December 31, 2002 |  
|---------------------------------- |  | ---------------------- | ------- | ----------------- | -
|                                   |  |                        |         |                   |  
|                                   |  | (Dollars in Thousands) |        
|Cash and due from banks            |  | $                      | 5,296   |                   | $
|Interest-bearing deposits in banks |  |                        | 1,014   |                   |  
|Federal funds sold                 |  |                        | 14,834  |                   |  
|Securities                         |  |                        | 19,269  |                   |  
|Loans, net                         |  |                        | 103,440 |                   |  
|Loans held for sale                |  |                        | 552     |                   |  
|Premises and equipment             |  |                        | 2,612   |                   |  
|Other assets                       |  |                        | 8,528   |                   |  
|                                   |  |                        |         |                   |  
|                                   |  | $                      | 155,545 |                   | $
|                                   |  |                        |         |                   |  
|Deposits                           |  | $                      | 114,031 |                   | $
|Other borrowings                   |  |                        | 28,790  |                   |  
|Other liabilities                  |  |                        | 924     |                   |  
|Stockholders equity               |  |                        | 11,800  |                   |  
|                                   |  |                        |         |                   |  
|                                   |  | $                      | 155,545 |                   | $
|                                   |  |                        |         |                   |  

Our assets increased by 5% during the first quarter of 2003. Gross loans outstanding decreased
approximately $1 million during the first quarter of 2003, primarily as a result of transferring $4.5 million in loans to other real estate owned following foreclosure.  Deposit growth of $7 million was used to fund loan growth of $3.5 million
(exclusive of the loans transferred to other real estate owned), with the remainder invested primarily in federal funds sold. Our loans to available funds ratio has remained in the 75% to 85% range indicating continued strong loan demand in our
primary market area of Butts County and surrounding counties.  Our total equity has increased by year-to-date net income of $71,000 as well as proceeds from the exercise of stock options of $21,000.  These increases in equity were offset
by decreased gains on securities available-for-sale, net of tax, of $54,000.

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Results of Operations For The Three Months Ended March 31, 2003 and 2002

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

|                          |  | Three Months Ended March 31, |      
|------------------------- |  | ---------------------------- | -----
|                          |  |                              |      
|                          |  | 2003                         |      
|                          |  |                              |      
|                          |  | (Dollars in Thousands)       |      
|Interest income           |  | $                            | 2,038
|Interest expense          |  |                              | 996  
|                          |  |                              |      
|Net interest income       |  |                              | 1,042
|Provision for loan losses |  |                              | 270  
|Other income              |  |                              | 251  
|Other expense             |  |                              | 917  
|                          |  |                              |      
|Pretax income             |  |                              | 106  
|Income taxes              |  |                              | 35   
|                          |  |                              |      
|Net income                |  | $                            | 71   
|                          |  |                              |      

Our net interest income has increased by $28,000 in the first quarter of 2003 as compared to
the same period in 2002.  Our net interest margin decreased to 3.03% in the first quarter of 2003 as compared to 3.53% for the first quarter of 2002 and 3.69% for the entire year of 2002.  The increase in net interest income is due
primarily to the increased volume of average loans.  The decrease in net interest margin is due to the decrease in yields earned on loans that have decreased to 6.69% in the first quarter of 2003 as compared to 7.51% in the first quarter of
2002.  The decrease in the yield on loans during the first quarter of 2003 is primarily attributed to the reversal of approximately $60,000 of interest earned on loans secured by real estate that were foreclosed and transferred to other real
estate owned during the latter part of the first quarter.  Our cost of funds has decreased as well, as deposits continue to re-price at lower rates as they have matured.  Our cost of funds decreased to 2.90% in the first quarter of 2003 as
compared to 3.71% in the first quarter of 2002.

The provision for loan losses increased by $180,000 in the first quarter of 2003 when compared to the same period in 2002.  The amounts provided
were due in part to loan growth, but are due primarily to the increase in the amount of non-performing loans during the first quarter of 2003.  The allowance for loan losses as a percentage of total loans was 1.99% at March 31, 2003 as
compared to 2.63% at December 31, 2002.  Net charge offs for the first quarter of 2003 were $974,000 as compared to $2,000 in 2002.  As of March 31, 2003, we had nonperforming loans and assets of $4.3million as compared to $3.8million at
December 31, 2002.  The increase in nonperforming loans and assets during the first quarter of 2003 is attributed to the foreclosure of a residential construction relationship totaling approximately $1.8 million.  This increase in
nonperfroming loans and assets was offset by the sale of previously held other real estate of $1.1 million and the subsequent write down of other parcels of other real estate in the amount of $200,000.  Of the $974,000 charged off during the
first quarter of 2003, approximately $750,000 was

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attributed to the residential construction relationship, as the properties were written down to the lower of their book value or fair market value (less cost to sell), prior
to the foreclosure.  Based upon our evaluation of the loan portfolio, we believe the allowance for loan losses to be adequate to absorb losses on existing loans that may become uncollectible.  Our evaluation considers significant factors
relative to the credit risk and loss exposure in the loan portfolio, including past due and classified loans, historical experience, underlying collateral values, and current economic conditions that may affect the borrowers ability to
repay.  The allowance for loan losses is evaluated by segmenting the loan portfolio into unclassified and classified loans.  An allowance percentage is applied to the unclassified loans to establish a general allowance for loan
losses.  The allowance percentage is determined based upon our experience specifically and the historical experience of the banking industry generally.  The classified loans, including impaired loans, are analyzed individually in order to
establish a specific allowance for loan losses.

Information with respect to nonaccrual, past due and restructured loans at March 31, 2003 and 2002 is as follows:

|                                                                                                         |  | March 31,              |      
|-------------------------------------------------------------------------------------------------------- |  | ---------------------- | -----
|                                                                                                         |  |                        |      
|                                                                                                         |  | 2003                   |      
|                                                                                                         |  |                        |      
|                                                                                                         |  | (Dollars in Thousands) |      
|Nonaccrual loans                                                                                         |  | $                      | 87   
|Loans contractually past due ninety days or more as to interest or principal payments and still accruing |  |                        | 0    
|Restructured loans                                                                                       |  |                        | 0    
|Potential problem loans                                                                                  |  |                        | 1,475
|Interest income that would have been recorded on nonaccrual and restructured loans under original terms  |  |                        | 4    
|Interest income that was recorded on nonaccrual and restructured loans                                   |  |                        | 2    

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

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

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

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Information regarding certain loans and allowance for loan loss data through March 31, 2003 and 2002 is as follows:

|                                                                              |  | Three Months Ended March 31, |        
|----------------------------------------------------------------------------- |  | ---------------------------- | -------
|                                                                              |  |                              |        
|                                                                              |  | 2003                         |        
|                                                                              |  |                              |        
|                                                                              |  | (Dollars in Thousands)       |        
|Average amount of loans outstanding                                           |  | $                            | 106,758
|                                                                              |  |                              |        
|Balance of allowance for loan losses at beginning of period                   |  | $                            | 2,802  
|                                                                              |  |                              |        
|Loans charged off                                                             |  |                              |        
|Commercial and financial                                                      |  |                              |       
|Real estate mortgage                                                          |  |                              | 975    
|Installment                                                                   |  |                              |       
|                                                                              |  |                              |        
|                                                                              |  |                              | 975    
|                                                                              |  |                              |        
|Loans recovered                                                               |  |                              |        
|Commercial and financial                                                      |  |                              |       
|Real estate mortgage                                                          |  |                              |       
|Installment                                                                   |  |                              | 1      
|                                                                              |  |                              |        
|                                                                              |  |                              | 1      
|                                                                              |  |                              |        
|Net charge-offs                                                               |  |                              | 974    
|                                                                              |  |                              |        
|Additions to allowance charged to operating expense during period             |  |                              | 270    
|                                                                              |  |                              |        
|Balance of allowance for loan losses at end of period                         |  | $                            | 2,098  
|                                                                              |  |                              |        
|Ratio of net loans charged off during the period to average loans outstanding |  |                              | .91    
|                                                                              |  |                              |        

Other income has increased in the first quarter of 2003 as compared to the same period in 2002
by $108,000 due primarily to net gains on sale of real estate of $92,000.

Other expenses increased in the first quarter of 2003 as compared to the same period in 2002 by $172,000 due to increased
salaries and employee benefits of $49,000, occupancy and equipment expenses of $9,000, and other operating expenses of $114,000.  Salaries and employee benefits have increased due to an increase in the number of full time equivalent employees
to 40 at March 31, 2003 from 31 at March 31, 2002, primarily as a result of opening a new branch facility in February of 2003.  Occupancy and equipment expenses have also increased due to increases in depreciation expense and occupancy expense
attributed to the opening of the new branch facility. Other operating expenses have increased due to increases in legal and professional fees and other costs associated with maintaining foreclosed properties.

We have provided for income taxes at an effective tax rate of 33% and 35% including state income taxes for the first quarters of 2003 and 2002.

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We are not aware of any known trends, events or uncertainties, other than the effect of events as described above, that will have or that are reasonably likely to have a
material effect on its liquidity, capital resources or operations.  We are also not aware of any current recommendations by the regulatory authorities which, if they were implemented, would have such an effect.

|ITEM 3. | CONTROLS AND PROCEDURES
|------- | -----------------------

Within 90 days prior to the date of filing of this report, we carried out an evaluation, under the supervision and with the participation of our
Chief Executive Officer and the Chief Financial Officer, of the design and operation of our disclosure controls and procedures pursuant to Rule 13a-14 under the Securities Exchange Act of 1934, as amended (the Exchange Act).  Based
on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective for gathering, analyzing and disclosing the information that we are required to disclose in the reports
we file under the Exchange Act within the time periods specified in the SECs rules and forms.  Our Chief Executive Officer and Chief Financial Officer also concluded that our disclosure controls and procedures are effective in timely
alerting them to material information relating to our company required to be included in our periodic SEC filings. We are in the process of further reviewing and documenting our disclosure controls and procedures, including our internal controls and
procedures for financial reporting, and may from time to time make changes designed to enhance their effectiveness and to ensure that our systems evolve with our business.

There have been no
significant changes in our internal controls or, to our knowledge, other factors that could significantly affect our internal controls subsequent to the date of this evaluation, and there have been no corrective actions with respect to significant
deficiencies or material weaknesses.

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PART II - OTHER INFORMATION

|ITEM 4. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
|------- | ----------------------------------------------------
|        |                                                     
|        | None.                                               
|        |                                                     
|ITEM 6. | EXHIBITS AND REPORTS ON FORM 8-K.                   
|        |                                                     
|        | (a)                                                 
|        |                                                     
|        | 99.1                                                
|        |                                                     
|        | 99.2                                                
|        |                                                     
|        | (b)                                                 
|        |                                                     
|        |                                                     

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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.

|                    | FIRST GEORGIA COMMUNITY CORP.
|------------------- | -----------------------------
|                    |                              
|                    |                              
|DATE:  May 14, 2003 | BY:                          
|                    |                              
|                    |                              
|                    |                              
|DATE: May 14, 2003  | BY:                          
|                    |                              
|                    |                              
|                    |                              

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Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, John L. Coleman,
President and C.E.O. of First Georgia Community Corp, certify that:

|1. | I have reviewed this quarterly report on Form 10-QSB of First Georgia Community Corp.                                                                                                                                                                                                                                         
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                               
|2. | Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
|   |                                                                                                                                                                                                                                                                                                                               
|3. | Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;                   
|   |                                                                                                                                                                                                                                                                                                                               
|4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-14 and 15d-14) for the registrant and have:                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                               
|   | a.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | b.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | c.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation, to the registrants auditors and the audit committee
of registrants board of directors:                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                               
|   | a.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | b.                                                                                                                                                                                                                                                                                                                            

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|6. | The registrants other certifying officer and I have indicated in this quarterly report whether there were significant changes in internal controls or in other factors that
could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Date:  May 14, 2003

| | /s/ JOHN L. COLEMAN                   | 
| | ------------------------------------- | 
| |                                       | 
| | John L. Coleman, President and C.E.O. | 
| | (Principal Executive Officer)         | 

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Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Thomas L. Redding,
C.F.O., certify that:

|1. | I have reviewed this quarterly report on Form 10-QSB of First Georgia Community Corp.                                                                                                                                                                                                                                         
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                               
|2. | Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
|   |                                                                                                                                                                                                                                                                                                                               
|3. | Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;                   
|   |                                                                                                                                                                                                                                                                                                                               
|4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-14 and 15d-14) for the registrant and have:                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                               
|   | a.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | b.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | c.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|5. | The registrants other certifying officer and I have disclosed, based on our most recent evaluation, to the registrants auditors and the audit committee
of registrants board of directors:                                                                                                                                 
|   |                                                                                                                                                                                                                                                                                                                               
|   | a.                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                               
|   | b.                                                                                                                                                                                                                                                                                                                            

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|6. | The registrants other certifying officer and I have indicated in this quarterly report whether there were significant changes in internal controls or in other factors that
could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Date:  May 14, 2003

| | /s/ THOMAS L. REDDING                        | 
| | -------------------------------------------- | 
| |                                              | 
| | Thomas L. Redding, C.F.O.                    | 
| | (Principal Financial and Accounting Officer) | 

19