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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-KSB/A

|           |  |                                                                                         
|---------- |  | ----------------------------------------------------------------------------------------
|(Mark One) |  |                                                                                         
|x          |  | Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934    
|           |  |                                                                                         
|           |  | For the fiscal year ended December 31, 2002.                                            
|           |  |                                                                                         
|o          |  | Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|           |  |                                                                                         
|           |  | For the transition period from
 to                                                      

Commission File Number: 333-89952

KENSINGTON BANKSHARES, INC.

(Exact Name of Registrant as Specified in Its Charter)


|                         |  |                                  
|------------------------ |  | ---------------------------------
|Florida                  |  | 59-3709535                       
|                         |  |                                  
|(State of Incorporation) |  | (IRS Employer Identification No.)

13246 North Dale Mabry Hwy., Tampa, FL 33624

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(Address of Principal Executive Offices, Zip Code)


(813) 961-6200

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(Registrants Telephone Number, Including Area Code)


Securities registered under Section 12(b) of the Exchange Act: None

Securities registered under Section 12(g) of the Exchange Act: None

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  x    No  o

Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to
the best of registrants knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-KSB or any
amendment to this Form 10-KSB.  x

As of December 31, 2002, there were approximately 3,710,000 shares
outstanding of the registrants Common Stock, par value $.01 per share, its
only class of common stock, and the aggregate market value of the Common Stock
held by non-affiliates of the registrant (approximately 923,841 shares) was
approximately $6,928,807 as computed by reference to the most recent trade
price of the Companys shares (March 17, 2003).

DOCUMENTS INCORPORATED BY REFERENCE

None.





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|SIGNATURES



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The purpose of this amendment is to reflect on the cover page of the Form
that the Form being used for the filing is Form 10-KSB and not Form 10-K.





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SIGNATURES

In accordance with the Section 13 or 15(d) of the Exchange Act, the
registrant has caused this report to be signed on behalf by the undersigned,
thereunto duly authorized.

|                   |  |                             |  |                                                                          
|------------------ |  | --------------------------- |  | -------------------------------------------------------------------------
|Date: May 30, 2003 |  |                             |  |                                                                          
|                  
|                   |  | KENSINGTON BANKSHARES, INC.
|                  
|                   |  | By:                         |  | /s/  Gerald K. ArchibaldGerald K. Archibald
President                    
|                  
|                   |  | By:                         |  | /s/  William R. Bender, Jr.William R. Bender, Jr.
Chief Financial Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this
report has been signed below by the following persons on behalf of the
registrant and in the capacities on May 30, 2003:

| |  |                                                   |  |                                       
| |  | ------------------------------------------------- |  | --------------------------------------
| |  | Signatures                                        |  | Title                                 
| |  |                                                   |  |                                       
|
| |  | /s/  Gerald K. ArchibaldGerald K. Archibald       |  | Chief Executive Officer and Director  
|
| |  |                                                   |  |                                       
|
| |  | /s/  William R. Bender, Jr.William R. Bender, Jr. |  | Chief Financial and Accounting Officer
|
| |  |                                                   |  |                                       
|
| |  | /s/  Gary L. BlackwellGary L. Blackwell           |  | Director                              
|
| |  |                                                   |  |                                       
|
| |  | /s/  D. Dewey MitchellD. Dewey Mitchell           |  | Director                              
|
| |  |                                                   |  |                                       
|
| |  | /s/ Ronald S. HockmanRonald S. Hockman            |  | Director