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 September 30, 2003

                                       OR

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

                        For the Transition Period from to

                         Commision file number 000-24139

                         Decatur First Bank Group, Inc.
                         ------------------------------
             (Exact name of registrant as specified in its charter)


                  Georgia                              58-2254289
----------------------------------------  -------------------------------------
(State of Incorporation)                   (I.R.S. Employer Identification No.)

1120 Commerce Drive
Decatur, Georgia                                         30030
----------------------------------------  -------------------------------------
(Address of principal executive offices)               (Zip Code)


                                  404-373-1000
                               ------------------
                               (Telephone Number)


     Indicate  by  check  mark  whether the registrant (1) has filed all reports
required  to  be  filed by Section 13 or 15(d) of the Securities Exchange Act of
1934  during  the  preceding  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 XX   NO
                                      --      --

             Common stock, par value $5 per share:   924,430 shares
                       outstanding as of November 12, 2003

                  Transitional Small Business Disclosure Format
                                   (check one)

                                  YES      NO XX
                                      --      --


<PAGE>
<TABLE>
<CAPTION>
                                  DECATUR FIRST BANK GROUP, INC.

                                              INDEX

                                                                                         Page No.
                                                                                         --------
<S>           <C>                                                                        <C>
PART I        FINANCIAL INFORMATION

     Item 1.  Financial Statements

              Consolidated Balance Sheet (unaudited) at September 30, 2003                      3

              Consolidated Statements of Earnings (unaudited) for the Three Months
                and the Nine Months Ended September 30, 2003 and 2002                           4

              Consolidated Statements of Comprehensive Income (unaudited) for the Nine
                Months Ended September 30, 2003 and 2002                                        5

              Consolidated Statements of Cash Flows (unaudited) for the Nine Months
                Ended September 30, 2003 and 2002                                               6

              Notes to Consolidated Financial Statements (unaudited)                            7

     Item 2.  Management's Discussion and Analysis of Financial Condition and
                Results of Operations                                                           9

     Item 3.  Controls and Procedures                                                          14

PART II.      OTHER INFORMATION

     Item 1.  Legal Proceedings                                                                15

     Item 2.  Changes in Securities                                                            15

     Item 3.  Defaults Upon Senior Securities                                                  15

     Item 4.  Submission of Matters to a Vote of Security Holders                              15

     Item 5.  Other Information                                                                15

     Item 6.  Exhibits and Reports on Form 8-K                                                 15
</TABLE>




This  Report  contains  statements  which  constitute forward-looking statements
within  the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of  the  Securities Exchange Act of 1934. These statements appear in a number of
places in this Report and include all statements regarding the intent, belief or
current  expectations of the Company, its directors or its officers with respect
to, among other things: (i) the Company's financing plans; (ii) trends affecting
the  Company's financial condition or results of operations; (iii) the Company's
growth  strategy and operating strategy; and (iv) the declaration and payment of
dividends.  Investors  are  cautioned that any such forward-looking statement is
not  a guarantee of future performance and involves risks and uncertainties, and
that  actual  results  may  differ  materially  from  those  projected  in  the
forward-looking  statements  as a result of various factors discussed herein and
those  factors  discussed in detail in the Company's filings with the Securities
and  Exchange  Commission.


                                      -2-
<PAGE>
                         PART I.  FINANCIAL INFORMATION

Item  1.  Financial  Statements

<TABLE>
<CAPTION>
                         DECATUR FIRST BANK GROUP, INC.
                           Consolidated Balance Sheet
                               September 30, 2003
                                   (Unaudited)

                                     Assets
                                     ------


<S>                                                                <C>
Cash and due from banks                                            $  2,930,228
Federal funds sold                                                    5,032,000
                                                                   -------------

     Cash and cash equivalents                                        7,962,228

Interest-bearing deposits                                             2,852,745
Investment securities available-for-sale                             20,560,576
Loans, net                                                           66,096,586
Premises and equipment, net                                           2,409,677
Other assets                                                          2,612,591
                                                                   -------------
                                                                   $102,494,403
                                                                   =============

                      Liabilities and Stockholders' Equity
                      ------------------------------------

Liabilities:
     Deposits:
          Noninterest-bearing                                      $ 19,224,792
          Interest-bearing                                           64,468,426
                                                                   -------------

               Total deposits                                        83,693,218

     FHLB Advances                                                    7,980,000
     Accrued interest payable and other liabilities                     294,986
                                                                   -------------

               Total liabilities                                     91,968,204
                                                                   -------------

Commitments

Stockholders' equity
     Preferred stock, no par value; authorized
          2,000,000 shares; no issued shares                                  -
     Common stock, $5 par value; authorized
          10,000,000 shares; issued  945,030 shares                   4,725,150
     Additional paid-in capital                                       4,695,827
     Retained earnings                                                1,269,874
     Treasury stock (20,600 shares), at cost                           (259,950)
     Accumulated comprehensive income                                    95,298
                                                                   -------------

               Total stockholders' equity                            10,526,199
                                                                   -------------

                                                                   $102,494,403
                                                                   =============
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -3-
<PAGE>
<TABLE>
<CAPTION>
                                DECATUR FIRST BANK GROUP, INC.

                              Consolidated Statements of Earnings

          For the Three Months and the Nine Months Ended September 30, 2003 and 2002
                                          (Unaudited)


                                                Three Months Ended         Nine Months Ended
                                                   September 30,             September 30,
                                           ---------------------------  ----------------------
                                                2003           2002        2003        2002
                                           ---------------  ----------  ----------  ----------
<S>                                        <C>              <C>         <C>         <C>
Interest income:
     Interest and fees on loans            $     1,093,842     926,552   3,271,433   2,492,049
     Interest on investment securities             169,194     277,015     539,603     896,573
     Other interest income                          24,162      28,401      65,678     112,134
                                           ---------------  ----------  ----------  ----------

          Total interest income                  1,287,198   1,231,968   3,876,714   3,500,756
                                           ---------------  ----------  ----------  ----------

Interest expense on deposits                       300,407     271,559     903,149     743,264
Interest expense on borrowings                     101,222     103,508     309,974     304,727
                                           ---------------  ----------  ----------  ----------

          Total interest expense                   401,629     375,067   1,213,123   1,047,991
                                           ---------------  ----------  ----------  ----------

          Net interest income                      885,569     856,901   2,663,591   2,452,765

Provision for loan losses                                -     100,000     170,000     250,000
                                           ---------------  ----------  ----------  ----------

     Net interest income after provision
       for loan losses                             885,569     756,901   2,493,591   2,202,765
                                           ---------------  ----------  ----------  ----------

Other income:
     Service charges on deposit accounts            95,897     106,619     283,586     289,750
     Securities gains                                    -      55,108     102,459      81,079
     Other operating income                         94,431      61,324     251,819     130,451
                                           ---------------  ----------  ----------  ----------

          Total other income                       190,328     223,051     637,864     501,280
                                           ---------------  ----------  ----------  ----------

Other expense:
     Salaries and other personnel expense          446,024     378,883   1,217,686   1,081,905
     Net occupancy and equipment expense            83,554      64,571     213,948     208,774
     Other operating expense                       299,364     259,586     936,354     779,152
                                           ---------------  ----------  ----------  ----------

          Total other expense                      828,942     703,040   2,367,988   2,069,831
                                           ---------------  ----------  ----------  ----------

          Earnings before income taxes             246,955     276,912     763,467     634,214

Income tax expense                                  54,482     107,052     186,286     241,001
                                           ---------------  ----------  ----------  ----------

          Net earnings                     $       192,473     169,860     577,181     393,213
                                           ===============  ==========  ==========  ==========

Earnings per common share:
     Basic earnings per share              $           .21         .18         .62         .42
                                           ===============  ==========  ==========  ==========
     Diluted earnings per share            $           .20         .18         .61         .42
                                           ===============  ==========  ==========  ==========
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -4-
<PAGE>
<TABLE>
<CAPTION>
                                 DECATUR FIRST BANK GROUP, INC.

                        Consolidated Statements of Comprehensive Income

                     For the Nine Months Ended September 30, 2003 and 2002


                                                                              2003       2002
                                                                           ----------  --------
<S>                                                                        <C>         <C>
Net earnings                                                               $ 577,181   393,213
                                                                           ----------  --------

Other comprehensive income (loss), net of tax:
     Unrealized gains on investment
          securities available-for-sale:
               Unrealized gains arising during the period, net of income
                 taxes of $103,315 and $301,398                             (168,566)  491,755
               Reclassification adjustment for gains included in
                 net earnings, net of income tax of $38,935 and  $30,810    ( 63,525)  (50,269)
                                                                           ----------  --------

Other comprehensive income (loss)                                           (232,091)  441,486
                                                                           ----------  --------

Comprehensive income                                                       $ 345,090   834,699
                                                                           ==========  ========
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -5-
<PAGE>
<TABLE>
<CAPTION>
                                  DECATUR FIRST BANK GROUP, INC.

                               Consolidated Statements of Cash Flows

                       For the Nine Months Ended September 30, 2003 and 2002

                                            (Unaudited)


                                                                           2003           2002
                                                                       -------------  ------------
<S>                                                                    <C>            <C>
Cash flows from operating activities:
     Net earnings                                                      $    577,181       393,213
     Adjustments to reconcile net earnings to net
       cash provided by operating activities:
         Provision for loan losses                                          170,000       250,000
         Depreciation, amortization and accretion                           287,364       199,066
         Securities gains                                                  (102,459)      (81,079)
         Provision for stock awards                                           5,090         7,398
         Change in other                                                   (134,748)      (42,391)
                                                                       -------------  ------------

            Net cash provided by operating activities                       802,428       726,207
                                                                       -------------  ------------

Cash flows from investing activities:
     Net change in interest-bearing deposits in banks                    (1,102,427)      260,176
     Proceeds from maturities and paydowns
       of investment securities available-for-sale                        4,727,848    10,028,677
     Proceeds from sales of investment securities available-for-sale      6,351,478     9,816,138
     Purchases of investment securities available-for-sale              (11,457,779)  (16,486,473)
     Change in loans                                                     (3,871,140)  (13,111,782)
     Purchases of premises and equipment                                   (127,973)     (655,756)
                                                                       -------------  ------------

            Net cash used by investing activities                        (5,479,993)  (10,149,020)
                                                                       -------------  ------------

Cash flows from financing activities:
     Net change in deposits                                               9,247,900     5,611,874
     Proceeds from borrowings                                                     -     4,980,000
     Repayment of borrowings                                             (2,000,000)   (4,650,000)
     Purchase of treasury shares                                             (1,450)     (107,500)
                                                                       -------------  ------------

            Net cash provided by financing activities                     7,246,450     5,834,374
                                                                       -------------  ------------

Net change in cash and cash equivalents                                  (2,568,885)   (3,588,439)

Cash and cash equivalents at beginning of the period                      5,393,343     9,319,632
                                                                       -------------  ------------

Cash and cash equivalents at end of the period                         $  7,962,228     5,731,193
                                                                       =============  ============

Noncash investing activities:
     Change in unrealized gain/loss on securities available-for-sale,
       net of tax                                                      $   (232,091)      441,486
</TABLE>

See  accompanying  notes  to  unaudited  consolidated  financial  statements.


                                      -6-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

                   Notes to Consolidated Financial Statements
                                   (Unaudited)

(1)  ORGANIZATION  AND  BASIS  OF  PRESENTATION

Decatur  First Bank Group, Inc. (the Company), a bank holding company, owns 100%
of the outstanding common stock of Decatur First Bank (the Bank), which operates
in the Decatur, Georgia area.  The consolidated financial statements include the
accounts of the Company and the Bank. All intercompany accounts and transactions
have  been  eliminated  in  consolidation.

The  accompanying financial statements have been prepared in accordance with the
requirements  for  interim  financial  statements  and,  accordingly,  they omit
disclosures,  which  would  substantially  duplicate those contained in the most
recent  annual  report to shareholders on Form 10-KSB.  The financial statements
as  of  September  30, 2003 and for the interim periods ended September 30, 2003
and  2002  are  unaudited  and,  in  the  opinion  of  management,  include  all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair  presentation.  The  financial information as of December 31, 2002 has been
derived  from  the  audited  financial  statements as of that date.  For further
information,  refer  to  the  financial statements and the notes included in the
Company's  2002  Form  10-KSB.

(2)  CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The  Company  has  adopted  various  accounting  policies,  which  govern  the
application  of accounting principles generally accepted in the United States of
America  in  the  preparation  of  our  financial  statements.  The  Company's
significant  accounting  policies  are  described  in  the  footnotes  to  the
consolidated  financial  statements  at December 31, 2002 as filed on our annual
report  on  Form  10-KSB.

Certain accounting policies involve significant estimates and assumptions by the
Company,  which  have  a material impact on the carrying value of certain assets
and liabilities.  The Company considers these accounting policies to be critical
accounting policies.  The estimates and assumptions used are based on historical
experience  and  other  factors,  which  are believed to be reasonable under the
circumstances.  Because  of  the  nature  of the estimates and assumptions made,
actual  results  could  differ  from these estimates and assumptions which could
have  a material impact on carrying values of assets and liabilities and results
of  operations.

The Company believes that the allowance for loan losses is a critical accounting
policy  that  requires  the  most  significant  judgments  and estimates used in
preparation  of  its consolidated financial statements.  Refer to the portion of
management's  discussion  and  analysis  of  financial  condition and results of
operations that addresses the allowance for loan losses for a description of the
Company's  processes  and  methodology  for  determining  the allowance for loan
losses.

(3)  EARNINGS  PER  SHARE

Net earnings per common share are based on the weighted average number of common
shares  outstanding  during  each  period.  The calculation of basic and diluted
earnings  per  share  is  as  follows:

<TABLE>
<CAPTION>
                                                    Three Months            Nine months
                                                 Ended September 30,     Ended September 30,
                                               -----------------------  --------------------
                                                   2003        2002       2003       2002
                                               ------------  ---------  ---------  ---------
<S>                                            <C>           <C>        <C>        <C>
Basic earnings per share:
Net earnings                                   $    192,473    169,860    577,181    393,213
Weighted average common shares outstanding          924,002    923,952    924,254    925,348
Per share amount                               $        .21        .18        .62        .42
                                               ============  =========  =========  =========

Diluted earnings per share:
Net earnings                                   $    192,473    169,860    577,181    393,213
Effect of dilutive securities - stock options        26,777     20,749     26,777     20,749
Diluted earnings per share                     $        .20        .18        .61        .42
                                               ============  =========  =========  =========
</TABLE>


                                      -7-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

              Notes to Consolidated Financial Statements, continued
                                   (Unaudited)


(4)  STOCK-BASED  COMPENSATION
     -------------------------

     The  Company sponsors stock-based compensation plans.  The Company accounts
     for  these  plans  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 those plans had an exercise price
     equal  to  the  market  value of the underlying common stock on the date of
     grant.  The following table illustrates the effect on net loss and loss per
     share  if  the Company had applied the fair value recognition provisions of
     Statement  of  Financing Accounting Standards ("SFAS") No. 123, "Accounting
     for Stock-Based Compensation", to stock-based employee compensation for the
     three  and  nine  months  ended  September  30,  2003  and  2002.

<TABLE>
<CAPTION>
                                                         Three Months Ended       Nine Months Ended
                                                            September 30,           September 30,
                                                      ------------------------  ---------------------
                                                          2003         2002        2003       2002
                                                      -------------  ---------  ----------  ---------
<S>                                                   <C>            <C>        <C>         <C>
     Net earnings as reported                         $    192,473     169,860    577,181     393,213

     Deduct: Total stock-based employee compensation
          expense determined under fair-value based
          method for all awards                           (137,000)          -   (137,000)          -
                                                      -------------  ---------  ----------  ---------

     Pro forma net earnings                           $     55,473     169,860    440,181     393,213
                                                      =============  =========  ==========  =========
     Basic earnings per share:

          As reported                                 $        .21         .18        .62         .42
                                                      =============  =========  ==========  =========

          Pro forma                                   $        .06         .18        .48         .66
                                                      =============  =========  ==========  =========

     Diluted earnings per share:

          As reported                                 $        .20         .18        .61         .42
                                                      =============  =========  ==========  =========

          Pro forma                                   $        .06         .18        .46         .42
                                                      =============  =========  ==========  =========
</TABLE>


                                      -8-
<PAGE>
Item 2.

                         DECATUR FIRST BANK GROUP, INC.

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS


The  following  is  a  discussion of our financial condition as of September 30,
2003  compared to December 31, 2002, and the results of operations for the three
and  nine  months  ended  September 30, 2003 and 2002.  These comments should be
read  in conjunction with our consolidated financial statements and accompanying
footnotes  appearing  in  this  report.  This  report  contains "forward-looking
statements"  relating to, without limitation, future economic performance, plans
and  objectives of management for future operations, and projections of revenues
and  other  financial  items that are based on the beliefs of our management, as
well  as  assumptions  made  by  and  information  currently  available  to  our
management.  The  words  "expect",  "estimate",  "anticipate", and "believe", as
well  as  similar  expressions,  are  intended  to  identify  forward-looking
statements.  Our actual results may differ materially from the results discussed
in the forward-looking statements, and our operating performance each quarter is
subject  to  various risks and uncertainties that are discussed in detail in our
filings  with  the  Securities  and  Exchange  Commission.

RESULTS  OF  OPERATIONS
-----------------------

NET  INTEREST  INCOME
---------------------

For  the  nine  months  ended  September  30,  2003, net interest income totaled
$2,663,591  as  compared  to  $2,452,765  for  the same period in 2002. Interest
income  from  loans, including fees, increased $779,384 or 31% to $3,271,433 for
the  nine  months  ended  September  30,  2003,  while  income  from  investment
securities  decreased  by  $356,970 or 40% to $539,603. Interest expense totaled
$1,213,123  for the nine months ended September 30, 2003, compared to $1,047,991
in  2002. The increase in net interest income is due to the Bank having a higher
percentage of its earning assets in loans and a lesser percentage of its earning
assets  in  investment  securities  and  an increase in average interest earning
assets resulting in an overall increase in net interest income. The net interest
margin  realized  on  earning assets and the interest rate spread were 3.85% and
3.35%,  respectively, for the nine months ended September 30, 2003. For the nine
months  ended  September  30,  2002,  the  net interest margin was 4.14% and the
interest  rate  spread  was  3.57%.

For  the quarter ended September 30, 2003, interest income totaled $1,287,198 as
compared  to  $1,231,968  for the same period in 2002.  Interest expense totaled
$401,629  for  the quarter ended September 30, 2003 compared to $375,067 for the
same  period  in  2002.  The  increase in net interest income is due to the Bank
having  a  higher  percentage  of  its  earning  assets  in  loans  and a lesser
percentage  of  its  earning  assets in investment securities and an increase in
average interest earning assets resulting in an overall increase in net interest
income.


INTEREST  RATE  SENSITIVITY  AND  ASSET  LIABILITY  MANAGEMENT
--------------------------------------------------------------

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

Net  interest  income  is  the  primary  component  of  net income for financial
institutions.  Net  interest  income  is affected by the timing and magnitude of
repricing  of as well as the mix of interest sensitive and noninterest sensitive
assets and liabilities.  "Gap" is a static measurement of the difference between
the  contractual  maturities or repricing dates of interest sensitive assets and
interest  sensitive  liabilities  within the following twelve months.  Gap is an
attempt  to  predict  the  behavior of the Bank's net interest income in general
terms  during  periods  of  movement  in  interest  rates.  In  general,  if the


                                      -9-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF  FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF OPERATIONS, -- continued
-------------

INTEREST  RATE  SENSITIVITY  AND  ASSET  LIABILITY  MANAGEMENT,  CONTINUED
--------------------------------------------------------------------------

Bank  is  asset sensitive, more of its interest sensitive assets are expected to
reprice  within  twelve  months than its interest sensitive liabilities over the
same  period.  In  a  rising  interest  rate  environment, assets repricing more
quickly  are  expected to enhance net interest income. Alternatively, decreasing
interest  rates  would  be  expected to have the opposite effect on net interest
income  since  assets  would  theoretically be repricing at lower interest rates
more  quickly  than interest sensitive liabilities. Although it can be used as a
general  predictor,  Gap  as a predictor of movements in net interest income has
limitations  due  to the static nature of its definition and due to its inherent
assumption  that  all  assets  will  reprice  immediately  and  fully  at  the
contractually  designated  time. At September 30, 2003, the Bank, as measured by
Gap,  is  in an asset sensitive position. Management has several tools available
to  it  to  evaluate  and  affect  interest rate risk, including deposit pricing
policies  and changes in the mix of various types of assets and liabilities. For
more  information  on  asset-liability management, see the annual report of Form
10-KSB  filed  with  the  Securities  and  Exchange  Commission.

PROVISION  AND  ALLOWANCE  FOR  LOAN  LOSSES
--------------------------------------------

The  provision  for  loan  losses  is  the  charge  to  operating  earnings that
management  believes  is  necessary  to maintain the allowance for possible loan
losses  at an adequate level.  The provision charged to expense was $170,000 for
the  nine  months  ended September 30, 2003 as compared to $250,000 for the nine
months  ended  September  30, 2002.  We did not make a provision for loan losses
for  the  quarter  ended September 30, 2003 compared to a $100,000 provision for
the same period in 2002.  The decrease in the provision was due to the reduction
in  loan demand during the third quarter of 2003.  The allowance for loan losses
was  1.32%  of  gross  loans at September 30, 2003.  There are risks inherent in
making  all loans, including risks with respect to the period of time over which
loans  may  be  repaid,  risks  resulting  from changes in economic and industry
conditions,  risks  inherent  in  dealing with individual borrowers, and, in the
case  of  a  collateralized  loan,  risks resulting from uncertainties about the
future value of the collateral.  We anticipate maintaining an allowance for loan
losses  based  on,  among  other things, historical experience, an evaluation of
economic  conditions,  and  regular  reviews of delinquencies and loan portfolio
quality.  Our  judgment  about  the  adequacy  of  the allowance is based upon a
number  of  assumptions  about future events, which we believe to be reasonable,
but  which may not prove to be accurate.  Thus, there is a risk that charge-offs
in future periods could exceed the allowance for loan losses or that substantial
additional  increases  in  the  allowance  for  loan  losses  could be required.
Additions to the allowance for loan losses would result in a decrease of our net
income  and,  possibly,  our  capital.

NONINTEREST  INCOME
-------------------

Noninterest income for the nine months ended September 30, 2003 totaled $637,864
as  compared  to  $501,280  for  the  nine months ended September 30, 2002.  The
increase  in  noninterest  income  was  due to an increase in income earned from
mortgage  origination  and  an  increase  in  the  gain  on  sale  of investment
securities available-for-sale, partially offset by a decrease in service charges
on  deposit accounts during the nine months ended September 30, 2003 as compared
to  the  same  period  in  2002.  Service  charges  decreased  slightly due to a
decrease  in  charges  associated  with  insufficient  funds  charges.

Noninterest  income for the quarter ended September 30, 2003 totaled $190,328 as
compared  to $223,051 for the quarter ended September 30, 2002.  The increase in
noninterest  income  was  due  to  an  increase  in  income earned from mortgage
origination,  partially  offset  by  a  decrease  in  service charges on deposit
accounts  during  the  quarter  ended September 30, 2003 as compared to the same
period  in  2002.

NONINTEREST  EXPENSE
--------------------

Total  noninterest  expense  for  the  nine  months ended September 30, 2003 was
$2,367,988  as  compared  to  $2,069,831  for  the  same  period in 2002.  Total
noninterest  expense  for the three months ended September 30, 2003 was $828,942
as compared to $703,040 for the same period in 2002.  Salaries and benefits, the
largest component of noninterest expense, totaled $1,217,686 for the nine months
ended  September 30, 2003, compared to $1,081,905 for the same period a year ago
and  totaled  $446,024  for  the  quarter  ended September 30, 2003, compared to
$378,883 for the same period in 2002. These increases were due to an increase in
staff  to  handle the increased number of customers, normal salary increases and
the employment of three individuals to staff a new loan production office opened
in  the  third  quarter of 2003.  Other operating expenses were $936,354 for the
nine months ended September 30, 2003 as compared to $779,152 for the nine months
ended  September  30,  2002 and totaled $299,364 for the quarter ended September
30,  2003, compared to $259,586 for the same period in 2002.  These increases in
noninterest  expenses  are  due  to  the continued growth of the Bank as well as
expenses  associated  with  opening  the  new  loan  production  office.


                                      -10-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF  OPERATIONS  --  continued
--------------

INCOME  TAXES
-------------

Income  tax  expense  for the nine and three months ended September 30, 2003 was
$186,286  and $54,482, respectively.   Income tax expense for the nine and three
months  ended  September  30, 2002 was $241,001 and $107,052, respectively.  The
effective  tax  rate  for the nine and three months ended September 30, 2003 was
approximately 24% and 22%, respectively, and for the nine and three months ended
September  30,  2002 were 38% and 39%, respectively.  This decrease in effective
tax  rate  is due to an increased percentage of tax exempt investment securities
in  the  Bank's  investment  portfolio  during  2003  compared  to  2002.

NET  EARNINGS
-------------

The  combination  of  the above factors resulted in net earnings of $577,181 for
the  nine  months ended September 30, 2003 compared to net earnings for the nine
months  ended  September  30,  2002 of $393,213.   Net earnings for the quarters
ended  September  30,  2003  and  2002 were $192,473 and $169,860, respectively.
Basic  earnings per share were $.62 for the nine months ended September 30, 2003
compared to basic earnings per share of $.42 for the same period in 2002.  Basic
earnings per share was $.21 for the quarter ended September 30, 2003 compared to
basic  earnings  per  share  of  $.18  for the quarter ended September 30, 2002.

ASSETS  AND  LIABILITIES
------------------------

During  the  first nine months of 2003, total assets increased $7,210,715 or 8%,
when  compared  to December 31, 2002. The primary source of growth in assets was
net  loans,  which  increased  $3,701,140 or 6%, during the first nine months of
2003.    Total  deposits increased $9,247,900 or 12%, from the December 31, 2002
amount  of $74,445,318.  The Bank reduced its FHLB advances by $2,000,000 during
the  third  quarter  of  2003,  from  a  level  of  $9,980,000  to  $7,980,000.

INVESTMENT  SECURITIES
----------------------

Investment  securities  available-for-sale decreased $21,478 from $20,582,054 at
December  31,  2002  to  $20,560,576  at  September 30, 2003.  All of the Bank's
marketable  investment  securities  were  designated  as  available-for-sale  at
September  30,  2003.

PREMISES  AND  EQUIPMENT
------------------------

Premises and equipment, net of depreciation, totaled $2,409,677 at September 30,
2003.  This  amount of premises and equipment has remained stable during 2003 as
depreciation  expense  has  approximated  additions.

LOANS
-----

Gross loans totaled $66,980,849 at September 30, 2003, an increase of $3,772,896
or 6% since December 31, 2002.  The largest increase in loans was in Real estate
-  construction,  which  increased $4,390,641 or 50% to $13,137,490 at September
30,  2003.  During  the third quarter of 2003, we added two construction lenders
and  opened  a  loan  production  office  that  focuses on construction lending.
Balances  within  the major loans receivable categories as of September 30, 2003
and  December  31,  2002  are  as  follows:

<TABLE>
<CAPTION>
                                            SEPTEMBER 30, 2003   DECEMBER 31, 2002
<S>                                          <C>                  <C>
     Commercial, financial and agricultural  $     9,675,837      $   10,914,521
     Real estate - construction                   13,137,490           8,746,849
     Real estate - mortgage                       41,454,760          40,905,257
     Consumer                                      2,712,762           2,641,326
                                             ---------------  ------------------

                                              $    66,980,849      $   63,207,953
                                             ===============  ==================
</TABLE>


                                      -11-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF  OPERATIONS  -  continued
--------------

ALLOWANCE  FOR  LOAN  LOSSES
----------------------------

Activity  in  the  Allowance  for  Loan  Losses  is  as  follows:

<TABLE>
<CAPTION>
                                                             September 30,
                                                       --------------------------
                                                           2003          2002
                                                       ------------  ------------
<S>                                                    <C>           <C>
 Balance, January 1,                                   $   812,507   $   595,279
                                                       ------------  ------------
 Provision for loan losses for the period                  170,000       250,000
 Net loans (charged off) recovered for the period          (98,244)     (157,899)
                                                       ------------  ------------

 Balance, end of period                                $   884,263   $   687,380
                                                       ============  ============

 Gross loans outstanding, end of period                $66,980,849   $55,426,722
                                                       ============  ============

 Allowance for loan losses to gross loans outstanding         1.32%         1.24%
                                                       ============  ============
</TABLE>

DEPOSITS
--------

At  September  30,  2003,  total  deposits  increased by $9,247,900, or 12% from
December 31, 2002.   Noninterest-bearing demand deposits increased $2,778,370 or
17%  and  interest-bearing  deposits  increased  $6,469,530  or  11%.

Balances  within  the  major  deposit  categories  as  of September 30, 2003 and
December  31,  2002  as  follows:

<TABLE>
<CAPTION>
                                           September 30, 2003   December 31, 2002
                                           -------------------  ------------------
<S>                                        <C>                  <C>
Noninterest-bearing demand deposits        $        19,224,792  $       16,446,422
Interest-bearing demand deposits                    25,167,267          24,825,981
Savings deposits                                     2,491,601           1,888,421
Certificates of deposit $100,000 and over           14,817,744          13,429,247
Other time deposits                                 21,991,814          17,855,247
                                           -------------------  ------------------

                                           $        83,693,218  $       74,445,318
                                           ===================  ==================
</TABLE>

LIQUIDITY
---------

The  Company's  liquidity  needs  include  the  funding  of  loans, purchases of
operating  assets,  etc.  Liquidity  needs  are  met  by  us  through  scheduled
maturities  of  loans  and  investments  on  the  asset side and through pricing
policies on the liability side for interest-bearing deposit accounts.  The level
of liquidity is measured by the loan-to-total borrowed funds ratio, which was at
73.06%  at  September  30,  2003  and  74.86%  at  December  31,  2002.

The  Company  is a party to financial instruments with off-balance-sheet risk in
the  normal  course  of  business  to meet the financing needs of its customers.
These financial instruments consist of commitments to extend credit and standyby
letters  of  credit.  Commitments  to  extend credit are agreements to lend to a
customer  as  long  as there is no violation of any condition established in the
contract.  Commitments  generally  have  fixed  expiration  dates  or  other
termination clauses and may require payment of a fee.  A commitment involves, to
varying  degrees,  elements  of  credit  and interest rate risk in excess of the
amount  recognized in the balance sheets.  The Company's exposure to credit loss
in  the  event  of  non-performance  by  the  other  party  to the instrument is
represented  by  the  contractual  notional  amount  of  the  instrument.


                                      -12-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF  OPERATIONS--  continued
--------------

LIQUIDITY  -  continued
---------

Since  certain  commitments are expected to expire without being drawn upon, the
total  commitment amounts do not necessarily represent future cash requirements.
The Company uses the same credit policies in making commitments to extend credit
as  it  does  for  on-balance-sheet  instruments.

Collateral  held  for  commitments  to  extend  credit  varies  but  may include
certificates  of  deposit,  accounts  receivable,  inventory,  property,  plant,
equipment,  and  income-producing  commercial  properties.

The  following  table  summarizes  the  Company's  off-balance-sheet  financial
instruments  whose  contract  amounts  represent credit risk as of September 30,
2003:

     Commitments to extend credit                    $     17,330,000
     Standby letters of credit                       $         61,000


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

We  also  have  obtained  lines  of credit available with correspondent banks to
purchase  federal  funds  for  periods  from  one  to  fourteen  days.

CAPITAL  RESOURCES
------------------

Total  shareholders'  equity  increased from $10,177,469 at December 31, 2002 to
$10,526,199  at  September  30,  2003.  This  increase  was  attributable to net
earnings  for  the  period,  partially offset by a decrease in accumulated other
comprehensive  income,  and  an  increase  in  treasury  stock.

Bank  holding companies, such as us, and their banking subsidiaries are required
by  banking regulators to meet certain minimum levels of capital adequacy, which
are  expressed  in the form of certain ratios.  Capital is separated into Tier 1
capital  (essentially  common  shareholders'  equity less intangible assets) and
Tier  2  capital  (essentially the allowance for loan losses limited to 1.25% of
risk-weighted  assets).  The  first two ratios, which are based on the degree of
credit  risk  in  our  assets, provide the weighting of assets based on assigned
risk  factors  and  include off-balance sheet items such as loan commitments and
stand-by letters of credit.  The ratio of Tier 1 capital to risk-weighted assets
must be at least 4.0% and the ratio of total capital (Tier 1 capital plus Tier 2
capital)  to  risk-weighted  assets must be at least 8.0%.  The capital leverage
ratio  supplements  the  risk-based  capital  guidelines.

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

The  following table summarizes the Bank's capital ratios at September 30, 2003:

   Tier 1 capital (to total average assets)                            9.44%
   Tier 1 capital (to risk-weighted assets)                           11.53%
   Total capital (to risk-weighted assets)                            12.61%


                                      -13-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
--------------------------------------------------------------------------------
OF  OPERATIONS--continued
--------------

REGULATORY  MATTERS
-------------------

From  time  to  time, various bills are introduced in the United States Congress
with  respect  to  the  regulation  of financial institutions.  Certain of these
proposals,  if  adopted,  could significantly change the regulation of banks and
the  financial  services  industry.  We  cannot  predict  whether  any  of these
proposals  will  be adopted or, if adopted, how these proposals would affect us.

RECENT ACCOUNTING PRONOUNCEMENTS
--------------------------------

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


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

As  of  September  30,  2003,  the  Company carried out an evaluation, under the
supervision  and  with  the participation of the Company's management, including
the  Company's  Chief  Executive  Officer  and  Chief  Financial Officer, of the
effectiveness  of  the design and operation of the Company's disclosure controls
and  procedures  pursuant  to  Exchange  Act  Rule  13a-15.  Based  upon  that
evaluation,  the  Company's  Chief Executive Officer and Chief Financial Officer
concluded that the Company's disclosure controls and procedures are effective in
timely  alerting them to material information relating to the Company (including
its  consolidated subsidiaries) that is required to be included in the Company's
periodic  filings  with the Securities and Exchange Commission.  There have been
no  significant  changes in the Company's internal controls or, to the Company's
knowledge,  in  other  factors  that  could  significantly affect those internal
controls  subsequent  to  the  date  the Company carried out its evaluation, and
there  have  been no corrective actions with respect to significant deficiencies
or  material  weaknesses.


                                      -14-
<PAGE>
                           PART II.  OTHER INFORMATION

                         DECATUR FIRST BANK GROUP, INC.


Item  1.  LEGAL  PROCEEDINGS
          ------------------
          None

Item  2.  CHANGES  IN  SECURITIES
          -----------------------
          None

Item  3.  DEFAULTS  UPON  SENIOR  SECURITIES
          ----------------------------------
          None

Item  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS
          -----------------------------------------------------------
          There  were  no  matters  submitted  to  shareholders during the third
          quarter  of  2003.

Item  5.  OTHER  INFORMATION
          ------------------
          Shareholder  proposals  submitted for consideration at Decatur First's
          2004  Annual Meeting of Shareholders must be received by Decatur First
          no  later  than  December  1,  2003,  to be included in the 2004 proxy
          materials.  A shareholder must notify Decatur First before February 1,
          2004  if  the shareholder has a proposal to present at the 2004 Annual
          Meeting  which  the  shareholder  intends  to  present  other  than by
          inclusion in Decatur First's proxy material. If Decatur First does not
          receive  notice  prior  to  February 1, 2004, proxies solicited by the
          management  of  Decatur First will confer discretionary authority upon
          the  management  of  Decatur  First  to  vote  upon any such proposal.

Item  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K
          -------------------------------------

     (a)  Exhibits:

          31   Certification  Pursuant  to  18  U.S.C.  Section 1350, as Adopted
               Pursuant  to  Section  302  of  the  Sarbanes-Oxley  Act  of 2002

          32   Certification of the Chief Executive Officer and Chief Financial
               Officer pursuant to 18 U.S.C. Section 350, as adopted pursuant to
               Section  906  of  the  Sarbanes-Oxley  Act  of  2002.

     (b)  Reports  on  Form  8-K:
          None.


                                      -15-
<PAGE>
                         DECATUR FIRST BANK GROUP, INC.

                                   SIGNATURES


     In  accordance with the requirements of the Securitis Exchange Act of 1934,
the  registrant  has  caused  this  Report  to  be  signed  on its behalf by the
undersigned,  thereunto  duly  authorized.

                                    DECATUR FIRST BANK GROUP, INC.


                                    By:   /S/  JUDY  B.  TURNER
                                          --------------------------------------
                                          Judy B. Turner
                                          President, Chief Executive Officer and
                                            Principal Accounting Officer


                                    Date: November  12,  2003
                                          -------------------


                                      -16-
<PAGE>