<PAGE>

               UNITED STATES 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, 2000
                                                 -------------------

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

             For the transition period from __________  to __________

                        Commission File Number: 333-13583

                          First Georgia Community Corp.
    -------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

           Georgia                                       58-2261088
-------------------------------               ----------------------------------
(State or other jurisdiction of                        (IRS Employer
incorporation or organization)                       Identification No.)

                  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
     -----          -----

State the number of shares outstanding of each of the issuer's classes of common
equity, as of May 1, 2000: 758,458; $5 par value

Transitional Small Business Disclosure Format       Yes           No    X
                                                        -----         -----
<PAGE>

                  FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY



--------------------------------------------------------------------------------

                                      INDEX
                                      -----

<TABLE>
<CAPTION>
                                                                                                              Page
                                                                                                              ----
<S>                                                                                                           <C>
PART I.           FINANCIAL INFORMATION

                  Item 1.  Financial Statements

                     Consolidated Balance Sheet - March 31, 2000............................................... 3

                     Consolidated Statements of Income and
                      Comprehensive Income - Three Months Ended
                      March 31, 2000 and 1999.................................................................. 4

                     Consolidated Statements of Cash Flows - Three
                      Months Ended March 31, 2000 and 1999..................................................... 5

                     Notes to Consolidated Financial Statements................................................ 6

                  Item 2.  Management's Discussion and Analysis of
                                Financial Condition and Results of Operations.................................. 7


PART II.          OTHER INFORMATION

                  Item 4 - Submission of Matters to a Vote of Security Holders................................ 12

                  Item 6 - Exhibits and Reports on Form 8-K................................................... 12

                  Signatures.................................................................................. 13
</TABLE>

                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION
                              FINANCIAL STATEMENTS

                  FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

                           CONSOLIDATED BALANCE SHEET
                                 MARCH 31, 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                  Assets
                                  ------
<S>                                                                                                    <C>
Cash and due from banks                                                                                $          1,953,526
Federal funds sold                                                                                                3,520,000
Securities available-for-sale, at fair value                                                                      7,913,650
Loans held for sale                                                                                                 372,472

Loans                                                                                                            46,409,222
Less allowance for loan losses                                                                                      693,938
                                                                                                       ---------------------
          Loans, net                                                                                             45,715,284

Premises and equipment                                                                                            2,195,260
Other assets                                                                                                      2,581,064
                                                                                                       ---------------------

          Total assets                                                                                 $         64,251,256
                                                                                                       =====================

<CAPTION>
                   Liabilities and Stockholders' Equity
                   ------------------------------------
<S>                                                                                                    <C>
Deposits
    Noninterest-bearing demand                                                                         $          5,857,728
    Interest-bearing demand                                                                                      15,689,416
    Savings                                                                                                         947,346
    Time                                                                                                         29,799,745
                                                                                                       ---------------------
          Total deposits                                                                                         52,294,235
Other borrowings                                                                                                  4,312,773
Other liabilities                                                                                                   390,920
                                                                                                       ---------------------
          Total liabilities                                                                                      56,997,928
                                                                                                       ---------------------

Commitments and contingent liabilities

Stockholders' equity
    Common stock, par value $5; 10,000,000 shares authorized;
      758,458 shares issued and outstanding                                                                       3,792,290
    Capital surplus                                                                                               3,754,816
    Accumulated deficit                                                                                             (89,698)
    Accumulated other comprehensive loss                                                                           (204,080)
                                                                                                       ---------------------
          Total stockholders' equity                                                                              7,253,328
                                                                                                       ---------------------

          Total liabilities and stockholders' equity                                                   $         64,251,256
                                                                                                       =====================
</TABLE>

See Notes to Consolidated Financial Statements.

                                       3
<PAGE>

                  FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

           CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                       2000                    1999
                                                                                --------------------    --------------------
<S>                                                                             <C>                      <C>
Interest income
    Loans                                                                       $         1,091,558      $          610,220
    Taxable securities                                                                      119,872                  85,415
    Federal funds sold                                                                       35,924                  45,157
                                                                                --------------------    --------------------
              Total interest income                                                       1,247,354                 740,792
                                                                                --------------------    --------------------

Interest expense
    Deposits                                                                                561,917                 326,207
    Other borrowings                                                                         34,535                       -
                                                                                --------------------    --------------------
              Total interest expense                                                        596,452                 326,207
                                                                                --------------------    --------------------


              Net interest income                                                           650,902                 414,585
Provision for loan losses                                                                    68,000                  46,000
                                                                                --------------------    --------------------
              Net interest income after provision for loan losses                           582,902                 368,585
                                                                                --------------------    --------------------

Other operating income                                                                       95,595                  55,534
                                                                                --------------------    --------------------

Other expenses
    Salaries and other employee benefits                                                    233,188                 178,074
    Occupancy and equipment expenses                                                         59,145                  59,692
    Other operating expenses                                                                200,453                 116,333
                                                                                --------------------    --------------------
              Total other expenses                                                          492,786                 354,099
                                                                                --------------------    --------------------

              Income before income taxes                                                    185,711                  70,020

Income tax expense                                                                           38,500                       -
                                                                                --------------------    --------------------

              Net income                                                                    147,211                  70,020
                                                                                --------------------    --------------------

Other comprehensive income (loss), net of tax:
    Unrealized gains (losses) on securities available-for-sale
       arising during period, net of tax                                                      9,380                 (62,077)
                                                                                --------------------    --------------------

    Comprehensive income                                                        $           156,591     $             7,943
                                                                                ====================    ====================

Basic and diluted earnings per common share                                     $              0.19     $              0.09
                                                                                ====================    ====================

Cash dividends per share of common stock                                        $                 -     $                 -
                                                                                ====================    ====================
</TABLE>

See Notes to Consolidated Financial Statements.

                                       4
<PAGE>

                  FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                   THREE MONTHS ENDED MARCH 31, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                       2000                     1999
                                                                            ----------------------     -----------------------
<S>                                                                         <C>                        <C>
OPERATING ACTIVITIES
    Net income                                                              $             147,211      $               70,020
    Adjustments to reconcile net income to net cash
        provided by (used in) operating activities:
        Depreciation                                                                       32,401                      31,429
        Net increase in loans held for sale                                              (288,583)                          0
        Provision for loan losses                                                          68,000                      46,000
        Increase in interest receivable                                                  (119,655)                    (46,012)
        Increase in interest payable                                                       45,316                      32,392
        Other operating activities                                                         (4,128)                     63,753
                                                                            ----------------------     -----------------------

              Net cash provided by (used in) operating activities                        (119,438)                    197,582
                                                                            ----------------------     -----------------------

INVESTING ACTIVITIES
    Purchases of securities available-for-sale                                           (103,478)                 (2,004,016)
    Proceeds from maturities of securities available-for-sale                                   -                     443,812
    Net increase in Federal funds sold                                                 (1,130,000)                   (260,000)
    Net increase in loans                                                              (6,057,519)                 (3,585,397)
    Purchase of premises and equipment                                                    (31,277)                    (21,565)
                                                                            ----------------------     -----------------------

              Net cash used in investing activities                                    (7,322,274)                 (5,427,166)
                                                                            ----------------------     -----------------------

FINANCING ACTIVITIES
    Net increase in deposits                                                            4,108,214                   5,656,947
    Repayment of other borrowings                                                          (1,941)
    Proceeds from other borrowings                                                      2,550,000                           -
                                                                            ----------------------     -----------------------

              Net cash provided by financing activities                                 6,656,273                   5,656,947
                                                                            ----------------------     -----------------------

Net increase (decrease) in cash and due from banks                                       (785,439)                    427,363

Cash and due from banks, beginning of period                                            2,738,965                     675,969
                                                                            ----------------------     -----------------------

Cash and due from banks, end of period                                      $           1,953,526      $            1,103,332
                                                                            ======================     =======================

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
    Cash paid for:
        Interest                                                            $             551,136      $              293,815

        Income taxes                                                        $                   -      $                    -

NONCASH TRANSACTIONS
    Unrealized (gains) losses on securities available-for-sale              $             (14,212)     $               62,077
</TABLE>

See Notes to Consolidated Financial Statements.

                                       5
<PAGE>

                 FIRST GEORGIA COMMUNITY CORP. AND SUBSIDIARY
                   NOTES 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, 2000
     are not necessarily indicative of the results to be expected for the full
     year.


NOTE 2. CURRENT ACCOUNTING DEVELOPMENTS

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

     There are no other accounting pronouncements that have had, or are expected
     to have, a material effect on the Company's financial statements.

                                       6
<PAGE>

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 Company and its bank subsidiary, First Georgia
     Community Bank (the "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 the Company 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 Company's 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.

     Liquidity and Capital Resources

     As of March 31, 2000, the liquidity ratio of the Bank, as determined under
     guidelines established by regulatory authorities, was satisfactory.

                                       7
<PAGE>

     At March 31, 2000, the capital ratios of the Company and the Bank were
     adequate based on regulatory minimum capital requirements. The minimum
     capital requirements and the actual capital ratios for the Company and the
     Bank are as follows:

<TABLE>
<CAPTION>
                                                                              Actual
                                                                  --------------------------------
                                                                        First           First
                                                                       Georgia         Georgia
                                                                      Community       Community       Regulatory
                                                                        Corp.            Bank        Requirement
                                                                    --------------  --------------  ---------------
                         <S>                                        <C>             <C>             <C>
                         Leverage capital ratios                         12.68 %         11.18 %           4.00 %
                         Risk-based capital ratios:
                            Core capital                                 14.19           12.51             4.00
                            Total capital                                15.44           13.76             8.00
</TABLE>

Financial Condition

Following is a summary of the Company's balance sheets for the periods
indicated:

<TABLE>
<CAPTION>
                                                       March 31,          December 31,
                                                         2000                1999                  Increase (Decrease)
                                                     --------------     ----------------     --------------------------------
                                                           (Dollars in Thousands)                Amount           Percent
                                                     -----------------------------------     --------------    --------------
<S>                                                  <C>                <C>                  <C>               <C>
Cash and due from banks                              $       1,954      $         2,739      $        (785)       (28.66)%
Federal funds sold                                           3,520                2,390              1,130         47.28
Securities                                                   7,914                7,796                118          1.51
Loans                                                       45,715               39,726              5,989         15.08
Loans held for sale                                            372                   84                288        342.86
Premises and equipment                                       2,195                2,196                 (1)        (0.05)
Other assets                                                 2,581                2,403                178          7.41
                                                     --------------     ----------------     --------------
                                                     $      64,251      $        57,334      $       6,917         12.06
                                                     ==============     ================     ==============

Deposits                                             $      52,294      $        48,186      $       4,108          8.53 %
Other borrowings                                             4,313                1,765              2,548        144.36
Other liabilities                                              391                  286                105         36.71
Stockholders' equity                                         7,253                7,097                156          2.20
                                                     --------------     ----------------     --------------
                                                     $      64,251      $        57,334      $       6,917         12.06
                                                     ==============     ================     ==============
</TABLE>

As indicated in the above table, the Company's total assets grew at a rate of
12.06%. This continued high rate of growth is not uncommon for a de novo bank.
Deposit growth of $4,108,000 and increased other borrowings of $2,548,000 were
used to fund loan growth with the remainder invested primarily in Federal funds
sold. The Company's loan to deposit ratio has increased from 83.73% at December
31, 1999 to 88.75% at March 31, 2000 indicating continued strong loan demand in
the Company's primary market area of Butts County.

                                       8
<PAGE>

Results of Operations For The Three Months Ended March 31, 2000 and 1999

Following is a summary of the Company's operations for the periods indicated.

<TABLE>
<CAPTION>
                                                     Three Months Ended
                                                          March 31,
                                               -------------------------------
                                                     2000             1999              Increase (Decrease)
                                               ---------------   -------------   -----------------------------------
                                                   (Dollars in Thousands)            Amount          Percent
                                               -------------------------------   ---------------   -----------------
<S>                                            <C>               <C>             <C>               <C>
Interest income                                $        1,247    $        741    $          506           68.29 %

Interest expense                                          596             326               270           82.82
                                               ---------------   -------------   ---------------

Net interest income                                       651             415               236           56.87

Provision for loan losses                                  68              46                22           47.83

Other income                                               96              55                41           74.55

Other expense                                             493             354               139           39.27
                                               ---------------   -------------   ---------------

Pretax income                                             186              70               116          165.71

Income taxes                                               39               -                39               -
                                               ---------------   -------------   ---------------

Net income                                                147              70                77          110.00
                                               ===============   =============   ===============
</TABLE>

As indicated in the above table, the Company's net interest income has increased
by $236,000 during the first quarter of 2000 as compared to the same period in
1999. The Company's net interest margin increased to 4.91% during the first
quarter of 2000 as compared to 4.60% during the first quarter of 1999 and 4.60%
for the entire year of 1999. The increase in net interest income and net
interest margin are due primarily to the increased volume of average loans
outstanding.

The provision for loan losses increased by $22,000 during the first quarter of
2000 as compared to the same period in 1999. The amounts provided are due
primarily to loan growth and inherent risk in the loan portfolio. The Company's
reserve for loan losses amounted to 1.50% at March 31, 2000 as compared to 1.54%
at December 31, 1999. The allowance for loan losses is maintained at a level
that is deemed appropriate by management to adequately cover all known and
inherent risks in the loan portfolio. Management's evaluation of the loan
portfolio includes a continuing review of loan loss experience, current economic
conditions which may affect the borrower's ability to repay and the underlying
collateral value.

                                       9
<PAGE>

Information with respect to nonaccrual, past due and restructured loans at March
31, 2000 and 1999 is as follows:

<TABLE>
<CAPTION>
                                                                                                    March 31,
                                                                                        ----------------------------------
                                                                                            2000                 1999
                                                                                        ----------------------------------
                                                                                             (Dollars in Thousands)
                                                                                        ----------------------------------
<S>                                                                                     <C>               <C>
Nonaccrual loans                                                                        $           0     $             0
Loans contractually past due ninety days or more as to interest
   or principal payments and still accruing                                                         0                   0
Restructured loans                                                                                  0                   0
Loans, now current about which there are serious doubts as to the
   ability of the borrower to comply with loan repayment terms                                      0                   0
Interest income that would have been recorded on nonaccrual
   and restructured loans under original terms                                                      0                   0
Interest income that was recorded on nonaccrual and restructured loans                              0                   0
</TABLE>

It is the policy of the Bank to discontinue the accrual of interest income when,
in the opinion of management, collection of such interest becomes doubtful. This
status is accorded such 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.

                                      10
<PAGE>

Information regarding certain loans and allowance for loan loss data through
March 31, 2000 and 1999 is as follows:

<TABLE>
<CAPTION>
                                                                                           Three Months Ended
                                                                                                March 31,
                                                                                    ----------------------------------
                                                                                         2000                1999
                                                                                    ---------------   ----------------
                                                                                         (Dollars in Thousands)
                                                                                    ----------------------------------
<S>                                                                                 <C>               <C>
Average amount of loans outstanding                                                 $       42,795    $        26,010
                                                                                    ===============   ================

Balance of allowance for loan losses at beginning of period                         $          620    $           434
                                                                                    ---------------   ----------------

Loans charged off
   Commercial and financial                                                         $            -    $             -
   Real estate mortgage                                                                          -                  -
   Instalment                                                                                    -                  -
                                                                                    ---------------   ----------------
                                                                                                 -                  -
                                                                                    ---------------   ----------------

Loans recovered
   Commercial and financial                                                                      -                  -
   Real estate mortgage                                                                          -                  -
   Installment                                                                                   6                  -
                                                                                    ---------------   ----------------
                                                                                                 6                  -
                                                                                    ---------------   ----------------

Net charge-offs                                                                                 (6)                 -
                                                                                    ---------------   ----------------

Additions to allowance charged to operating expense during period                               68                 46
                                                                                    ---------------   ----------------

Balance of allowance for loan losses at end of period                               $          694    $           480
                                                                                    ===============   ================

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

Other income has increased during the first quarter of 2000 as compared to the
same period in 1999 by $41,000 due primarily to increased service charges on
deposit accounts of $6,000 and income of $24,000 associated with the increase in
cash surrender value of life insurance policies on directors and executive
officers.

Other expenses increased during the first quarter of 2000 as compared to the
same period in 1999 by $139,000 due primarily to increased salaries and employee
benefits of $55,000, ATM processing expense of $11,000, and deferred
compensation expense of $16,000. Salaries and employee benefits have increased
due to an increase in the number of full time equivalent employees to 22 at
March 31, 2000 from 16 at March 31, 1999 and to normal salary increases.

The Company recorded its initial income tax provision of $39,000 during the
first quarter of 2000 due to the anticipated utilization of the net operating
loss carryover during 2000.

Overall net income has increased by $77,000 during the first quarter of 2000 as
compared to the same period in 2000 due primarily to increased net interest
income of $236,000 and increased operating expenses of $139,000.

                                      11
<PAGE>

                           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) Exhibits.

            27. Financial Data Schedule (for SEC use only).

        (b) Reports on Form 8-K.

            None.

                                      12
<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.


                               FIRST GEORGIA COMMUNITY CORP.
                                      (Registrant)



DATE:  May 12, 2000            BY:  /s/ John L. Coleman
       ------------                 --------------------------------------------
                                    John L. Coleman, President and C.E.O.
                                    (Principal Executive Officer)


DATE:    May 12, 2000          BY:  /s/ Elaine S. Kendrick
         ------------               --------------------------------------------
                                    Elaine S. Kendrick, Secretary and Treasurer
                                    (Principal Financial and Accounting Officer)

                                      13