**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

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**FORM      10-QSB**

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**S**
**olera**
**      N**
**ational**
**      B**
**ancorp**
**,      I**
**nc**
**.**

| **Delaware**                                     | **02-0774841**                                   |
|--------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction      | (IRS                Employer Identification No.) |
| of                incorporation or organization) |                                             |

**5801      W. Alameda Ave., Suite B**

**Lakewood,      CO 80226**

**303-209-8600**

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**FORM      10-QSB**

**SOLERA      NATIONAL BANCORP, INC.**

**INDEX**

|                    |   |                                                                                                                                          | PAGES                                                                                                                                                                                                                                                 |
|-------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | INTRODUCTORY                NOTE                                                                                                              | 3                -                4                                                                                                                                                                                                                   |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
| PART                I.  |   | FINANCIAL                INFORMATION                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                1.   Financial Statements                                                                                       | 5                                                                                                                                                                                                                                                     |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   |                                                                                                                                          | Balance                Sheets as of March 31, 2007 (Unaudited) and December 31, 2006                (Unaudited)                                                                                                                                       | 5 |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   |                                                                                                                                          | Statements                of Operations for the Three Months Ended March 31, 2007 and 2006                (Unaudited), and Period from January 3, 2005 (Inception) through                March 31,                2007 (Unaudited)              | 6 |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |   |
|                    |   |                                                                                                                                          | Statements                of Changes in Stockholders’ deficit for Three                Months Ended March 31, 2007 (Unaudited), and Period from January                3, 2005                (Inception) through December 31, 2006 (Unaudited) | 7 |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |   |
|                    |   |                                                                                                                                          | Statements                of Cash Flows for the Three Months Ended March 31, 2007 and 2006                (Unaudited), and Period from Inception through March 31, 2007                (Unaudited)                                                    | 8 |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |   |
|                    |   |                                                                                                                                          | Condensed                Notes to Financial Statements (Unaudited)                                                                                                                                                                                    | 9                -                11 |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                2.   Management’s Discussion and Analysis of Financial Condition                and Results of Operations | 11                - 13                                                                                                                                                                                                                                |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                3.   Controls                and Procedures                                                                     | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
| PART                II. |   | OTHER                INFORMATION                                                                                                              | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                1. Legal Proceedings                                                                                                      | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                2. Changes in Securities and Use of Proceeds                                                                              | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                3. Defaults Upon Senior Securities                                                                                        | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                4. Submission of Matters to a Vote of Security Holders                                                                    | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                5. Other Information                                                                                                      | 13                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Item                6. Exhibit List                                                                                                           | 14                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Signatures                                                                                                                                    | 15                                                                                                                                                                                                                                                    |
|                    |   |                                                                                                                                          |                                                                                                                                                                                                                                                  |
|                    |   | Exhibits                                                                                                                                      | 16                - 19                                                                                                                                                                                                                                |

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**INTRODUCTORY      NOTE**

| ·                   | the                Company and Bank must receive regulatory approvals before the Bank                may                open for business; |
|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | the                Bank must satisfy certain conditions following regulatory approval                before                it may open for business; |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | any                delay in beginning banking operations will result in additional                losses; |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------|

| ·                   | any                delay in the receipt of regulatory approval or beginning of banking                operations will negatively impact the Company’s operating                capital; |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | the                Company has no operating history upon which to base an estimate of                its                future financial performance; |
|----------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | the                Company expects to incur losses during its initial years of                operations; |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------|

| ·                   | the                Bank’s failure to implement its business strategies may adversely affect                the Company’s financial                performance; |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | departures                of key personnel or Directors may impair the Bank’s                operations; |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------|

| ·                   | the                Bank will face intense competition from a variety of                competitors; |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------|

| ·                   | the                Bank’s legal lending limits may impair its ability to attract                borrowers; |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------|

| ·                   | an                economic downturn, especially one affecting the Bank’s primary service                areas, may have an adverse effect on its financial                performance; |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | the                Company could be negatively affected by changes in interest                rates; |
|----------------------------------------------|------------------------------------------------------------------------------------------------------|

| ·                   | the                Company does not intend to pay dividends in the foreseeable                future; |
|----------------------------------------------|-------------------------------------------------------------------------------------------------------|

| ·                   | the                Company may not be able to raise additional capital on terms favorable                to                it; |
|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|

| ·                   | the                liquidity of the Company common stock will be affected by its limited                trading market; |
|----------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|

| ·                   | monetary                policy and other economic factors could adversely affect the Company’s                profitability; |
|----------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | subscribers share                ownership may be diluted in the                future; |
|----------------------------------------------|----------------------------------------------------------------------------------------------|

| ·                   | the                Company’s certificate of incorporation and bylaws, and the employment                agreements of our Executive Officers, contain provisions that could                make a                takeover more difficult; |
|----------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | management                of the Bank may be unable to adequately measure and limit credit                risk                associated with the Bank’s loan portfolio, which would affect the                Company’s profitability; |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·                   | government                regulation may have an adverse effect on the Company’s profitability and                growth; |
|----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------|

| ·                   | our                Directors and Executive Officers could have the ability to influence                shareholder actions in a manner that may be adverse to the personal                investment objectives of subscribers;                and |
|----------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| ·                   | an                effective registration statement may not be in place when an investor                desires to exercise warrants, thus precluding such investor from                being                able to exercise his, her or its warrants and causing such warrants                to be                practically worthless. |
|----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**PART      I — FINANCIAL INFORMATION**

**ITEM        1. FINANCIAL STATEMENTS**

**Solera        National Bancorp, Inc.**

**(A        Development Stage Enterprise)**

**Balance        Sheets**

**March        31, 2007 and December 31, 2006**

|                                                                       |   | March                31, |       | December                31, |   |
|----------------------------------------------------------------------------|--------|--------------------------|------------|-----------------------------|--------|
|                                                                       |   | 2007                     |       | 2006                        |   |
|                                                                       |   | (Unaudited)              |       | (Unaudited)                 |   |
|                                                                       |   |                     |       |                        |   |
| **ASSETS**                                                                 |   |                     |       |                        |   |
|                                                                       |   |                     |       |                        |   |
| Cash                and cash equivalents                                   |   | $                        | 16,743     |                        | $      | 6,978 |   |
| Prepaid                expenses                                            |   |                     | 34,703     |                        |   | 50,195 |   |
| Deferred                offering costs                                     |   |                     | 188,397    |                        |   | 156,125 |   |
| Premises                and equipment, net                                 |   |                     | 315,553    |                        |   | 93,331 |   |
| Construction              in              process                          |   |                     | 269,802    |                        |   | - |   |
| Organizer                advances receivable                               |   |                     | 450,000    |                        |   | - |   |
| Other                assets                                                |   |                     | 36,425     |                        |   | 20,528 |   |
|                                                                       |   |                     |       |                        |   |   |   |
| **Total                assets**                                            |   | $                        | 1,311,623  |                        | $      | 327,157 |   |
|                                                                       |   |                     |       |                        |   |   |   |
| **LIABILITIES                AND STOCKHOLDER’S DEFICIT**             |   |                     |       |                        |   |   |   |
|                                                                       |   |                     |       |                        |   |   |   |
| Accounts                payable                                            |   | $                        | 176,585    |                        | $      | 9,374 |   |
| Refunds                to Organizers                                       |   |                     | 110,000    |                        |   | 110,000 |   |
| Accrued                expenses                                            |   |                     | 240,118    |                        |   | 215,209 |   |
| Accrued                interest payable                                    |   |                     | 1,882      |                        |   | 6,061 |   |
| Note                payable                                                |   |                     | 1,949,823  |                        |   | 1,343,726 |   |
| Advances                from Organizers                                    |   |                     | 1,180,001  |                        |   | 730,001 |   |
| Capital                Lease Liability                                     |   |                     | 176,940    |                        |   | - |   |
| Deferred                rent expense                                       |   |                     | 6,484      |                        |   | 4,603 |   |
|                                                                       |   |                     |       |                        |   |   |   |
| **Total                liabilities**                                       |   | $                        | 3,841,833  |                        | $      | 2,418,974 |   |
|                                                                       |   |                     |       |                        |   |   |   |
| COMMITMENTS                AND CONTINGENCIES                               |   |                     |       |                        |   |   |   |
|                                                                       |   |                     |       |                        |   |   |   |
| STOCKHOLDER’S                DEFICIT                                 |   |                     |       |                        |   |   |   |
| Common                stock, $0.01 par value; 4,000,000 shares authorized; |   |                     |       |                        |   |   |   |
| none                issued and outstanding                                 |   | $                        | -          |                        | $      | - |   |
| Deficit                accumulated during the development stage            |   |                     | (2,530,210 | )                           |   | (2,091,817 | ) |
| **Total                stockholder’s deficit**                       |   | $                        | (2,530,210 | )                           |   | (2,091,817 | ) |
|                                                                       |   |                     |       |                        |   |   |   |
| **Total                liabilities and stockholder’s deficit**       |   | $                        | 1,311,623  |                        | $      | 327,157 |   |

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**Solera        National Bancorp, Inc. **

**(A        Development Stage Enterprise)**

**Statements        of Operations**

**For        the Three Months Ended March 31, 2007 and 2006, and Period**

**from        January 3, 2005 (Inception) through March 31, 2007**

|                                           |   | For                  the Three Months Ended |     | Cumulative                    |   |
|------------------------------------------------|--------|---------------------------------------------|----------|-------------------------------|--------|
|                                           |   | March                  31,                  |     | Amounts                  from |   |
|                                           |   | 2007                                        |     | 2006                          |   | Inception |   |
|                                           |   | (Unaudited)                                 |     | (Unaudited)                   |   | (Unaudited) |   |
|                                           |   |                                        |     |                          |   |   |   |
| Revenue,                  interest income      |   | $                                           | -        |                          | $      | 66 |   | $ | 1,819 |   |
|                                           |   |                                        |     |                          |   |   |   |   |   |   |
| Operating                  expenses:           |   |                                        |     |                          |   |   |   |   |   |   |
| Professional                  fees             |   | $                                           | 39,098   |                          | $      | 110,623 |   | $ | 378,520 |   |
| Consulting                  fees               |   |                                        | 36,625   |                          |   | 72,375 |   |   | 641,925 |   |
| Management                  fees               |   |                                        | 201,916  |                          |   | 83,510 |   |   | 977,857 |   |
| Regulatory                  and filing fees    |   |                                        | -        |                          |   | - |   |   | 25,000 |   |
| Depreciation                  and amortization |   |                                        | 17,141   |                          |   | 239 |   |   | 20,813 |   |
| General                  and administrative    |   |                                        | 111,928  |                          |   | 18,773 |   |   | 400,482 |   |
| Interest                  expense              |   |                                        | 31,685   |                          |   | 692 |   |   | 87,432 |   |
| Total                  operating expenses      |   | $                                           | 438,393  |                          | $      | 286,212 |   | $ | 2,532,029 |   |
|                                           |   |                                        |     |                          |   |   |   |   |   |   |
| Net                  loss                      |   | $                                           | (438,393 | )                             | $      | (286,146 | ) | $ | (2,530,210 | ) |
|                                           |   |                                        |     |                          |   |   |   |   |   |   |
| Basic                  earnings per share      |   |                                        | NA       |                          |   | NA |   |   | NA |   |
|                                           |   |                                        |     |                          |   |   |   |   |   |   |
| Diluted                  earnings per share    |   |                                        | NA       |                          |   | NA |   |   | NA |   |

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**Solera        National Bancorp, Inc.**

**(A        Development Stage Enterprise)**

**Statements        of Changes in Stockholder’s Deficit**

**Three        Months Ended March 31, 2007, and Period from January 3, 2005 (Inception)        **

**through        December 31, 2006**

|                                        |   |   |         | Additional |   |         |   |   |       |
|---------------------------------------------|--------|--------|--------------|------------|--------|--------------|--------|--------|------------|
|                                        |   | Common |         | Paid-in    |   | Accumulated  |   |   |       |
|                                        |   | Stock  |         | Capital    |   | Deficit      |   | Total  |       |
|                                        |   |   |         |       |   |         |   |   |       |
| Balance,                  January 3, 2005   |   |   |         |       |   |         |   |   |       |
| (Inception)                                 |   | $      | -            |       | $      | -            |   | $      | -          |   | $ | - |   |
| Comprehensive                  income:      |   |   |         |       |   |         |   |   |       |   |   |   |   |
| Net                  loss                   |   |   | -            |       |   | -            |   |   | (2,091,817 | ) |   | (2,091,817 | ) |
| Balance,                  December 31, 2006 |   |   | -            |       |   | -            |   |   | (2,091,817 | ) |   | (2,091,817 | ) |
| Comprehensive                  income:      |   |   |         |       |   |         |   |   |       |   |   |   |   |
| Net                  loss                   |   |   |    |       |   |    |   |   | (438,393   | ) |   | (438,393 | ) |
| Balance,                  March 31, 2007    |   | $      | -            |       | $      | -            |   | $      | (2,530,210 | ) | $ | (2,530,210 | ) |

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**Solera        National Bancorp, Inc.**

**(A        Development Stage Enterprise)**

**Statements        of Cash Flows**

**For        the Three Months Ended March 31, 2007 and 2006, and Period**

**from        January 3, 2005 (Inception) through March 31, 2007**

|                                                             |   | For                  the Three Months Ended |     | Cumulative                    |   |
|------------------------------------------------------------------|--------|---------------------------------------------|----------|-------------------------------|--------|
|                                                             |   | March                  31,                  |     | Amounts                  from |   |
|                                                             |   | 2007                                        |     | 2006                          |   | Inception |   |
|                                                             |   | (Unaudited)                                 |     | (Unaudited)                   |   | (Unaudited) |   |
|                                                             |   |                                        |     |                          |   |   |   |
| CASH                  FLOWS FROM OPERATING ACTIVITIES            |   |                                        |     |                          |   |   |   |
| Net                  (loss)                                      |   | $                                           | (438,393 | )                             | $      | (286,146 | ) | $ | (2,530,210 | ) |
| Adjustments                  to reconcile net loss to net cash   |   |                                        |     |                          |   |   |   |   |   |   |
| used                  in operating activities:                   |   |                                        |     |                          |   |   |   |   |   |   |
| Depreciation                  and amortization                   |   |                                        | 17,141   |                          |   | 239 |   |   | 20,813 |   |
| Changes                  in operating assets and liabilities:    |   |                                        |     |                          |   |   |   |   |   |   |
| Prepaid                  expenses                                |   |                                        | 15,492   |                          |   | 23,405 |   |   | (34,703 | ) |
| Deferred                  offering costs                         |   |                                        | (32,272  | )                             |   | (36,746 | ) |   | (188,397 | ) |
| Other                  assets                                    |   |                                        | (15,897  | )                             |   | (53,328 | ) |   | (36,425 | ) |
| Accounts                  Payable                                |   |                                        | 167,211  |                          |   | (793 | ) |   | 176,585 |   |
| Refund                  to Organizers                            |   |                                        | -        |                          |   | - |   |   | 110,000 |   |
| Accrued                  expenses                                |   |                                        | 24,909   |                          |   | (90,824 | ) |   | 240,118 |   |
| Accrued                  interest payable                        |   |                                        | (4,179   | )                             |   | 692 |   |   | 1,882 |   |
| Deferred                  rent expense                           |   |                                        | 1,881    |                          |   | 251 |   |   | 6,484 |   |
| **Net                  cash used in operating activities**       |   | $                                           | (264,107 | )                             | $      | (443,250 | ) | $ | (2,233,853 | ) |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| CASH                  FLOWS FROM INVESTING ACTIVITIES, purchases |   |                                        |     |                          |   |   |   |   |   |   |
| of                  premises and equipment                       |   | $                                           | (332,225 | )                             | $      | - |   | $ | (429,228 | ) |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| CASH                  FLOWS FROM FINANCING ACTIVITIES            |   |                                        |     |                          |   |   |   |   |   |   |
| Advances                  from Organizers                        |   | $                                           | -        |                          | $      | 270,000 |   | $ | 870,001 |   |
| Repayment                  of Organizer advances                 |   |                                        | -        |                          |   | (140,000 | ) |   | (140,000 | ) |
| Proceeds                  from note payable                      |   |                                        | 606,097  |                          |   | 365,000 |   |   | 1,949,823 |   |
| **Net                  cash provided by financing activities**   |   | $                                           | 606,097  |                          | $      | 495,000 |   | $ | 2,679,824 |   |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| **Net                  increase in cash and cash equivalents**   |   | $                                           | 9,765    |                          | $      | 51,750 |   | $ | 16,743 |   |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| CASH                  AND CASH EQUIVALENTS                       |   |                                        |     |                          |   |   |   |   |   |   |
| Beginning                  of period                             |   |                                        | 6,978    |                          |   | 4,168 |   |   | - |   |
| End                  of period                                   |   | $                                           | 16,743   |                          | $      | 55,918 |   | $ | 16,743 |   |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| SUPPLEMENTAL                  DISCLOSURE OF CASH FLOW            |   |                                        |     |                          |   |   |   |   |   |   |
| INFORMATION,                  cash paid for interest             |   | $                                           | -        |                          | $      | - |   | $ | - |   |
|                                                             |   |                                        |     |                          |   |   |   |   |   |   |
| ASSETS                  ACQUIRED UNDER CAPITAL LEASES            |   | $                                           | 176,940  |                          | $      | - |   | $ | 176,940 |   |

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**SOLERA      NATIONAL BANCORP, INC.**

**UNAUDITED      CONDENSED NOTES TO FINANCIAL STATEMENTS**

**NOTE      1 - BASIS OF PRESENTATION**

At      March      31, 2007, the Company is considered to be in the development stage because      it      has devoted substantially all of its efforts since commencement of operations      to      primarily preparing applications with various bank regulatory authorities for      permission to organize a national bank and a bank holding company, and taking      all other actions necessary to organize and charter the Bank. The Bank received      approval as a bank in organization in the first quarter of 2007 and anticipates      commencing banking operations in the summer of 2007. Successful completion      of      the Company’s development program and, ultimately, the attainment of profitable      operations are dependent on future events, including the Bank’s ability to      commence operations, the receipt of various regulatory approvals, equity capital      of at least $20 million raised through the sale of the Company’s common stock,      the Bank’s receipt of deposit insurance from the Federal Deposit Insurance      Corporation, and achieving a level of revenue adequate to support the Company’s      cost structure. 

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**NOTE      2 - **
**SUMMARY      OF ORGANIZATION**

**NOTE      3 - **
**COMMON      STOCK OFFERING**

**NOTE      4 - **
**ADVANCES      FROM ORGANIZERS**

**NOTE      5 - INCOME TAXES**

**NOTE      6 - **
**RELATED-PARTY      TRANSACTIONS**

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**NOTE      **
**7      - LINE OF CREDIT**

**NOTE      8 - SUBSEQUENT EVENTS**

**ITEM      2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF      OPERATION**

**OVERVIEW**

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**FINANCIAL      RESULTS**

**Three      months ended March 31, 2007 and March 31, 2006**

**Cumulative      results since inception**

**PLAN      OF OPERATION**

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**LIQUIDITY**

**ITEM      3.****          CONTROLS AND PROCEDURES**

**PART      II — OTHER INFORMATION**

**ITEM      1. LEGAL PROCEEDINGS**

**ITEM      2. CHANGES IN SECURITIES AND USE OF PROCEEDS**

**ITEM      3. DEFAULTS UPON SENIOR SECURITIES**

**ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**

**ITEM      5. OTHER INFORMATION**

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**ITEM      6. EXHIBITS**

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***SOLERA      NATIONAL BANCORP, INC.***

***SIGNATURES***

***SOLERA      NATIONAL BANCORP, INC.***

***(Registrant)***

| Date:                  May 10, 2007 | /s/                  Paul M. Ferguson                                                |
|-------------------------------------|--------------------------------------------------------------------------------------|
|                                | Paul                  M. Ferguson                                                    |
|                                | President                                                                            |
|                                | (Principal                  Executive Officer)                                       |
|                                |                                                                                 |
|                                |                                                                                 |
|                                |                                                                                 |
|                                | /s/                  Robert J. Fenton                                                |
|                                | Robert                  J. Fenton                                                    |
|                                | Vice                  President, Secretary & Treasurer                           |
|                                | (Principal                  accounting and chief financial                  officer) |

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**EXHIBIT      INDEX**

| **Exhibit** | **Description                  of Exhibit**                                                                                                  |
|-------------|----------------------------------------------------------------------------------------------------------------------------------------------|
| **Number**  |                                                                                                                                         |
|        |                                                                                                                                         |
| **31.1**    | **Certification                  pursuant to Rule 15d−14(a) of the Securities Exchange                  Act**                          |
|        |                                                                                                                                         |
| **31.2**    | **Certification                  pursuant to Rule 15d−14(a) of the Securities Exchange                  Act**                          |
|        |                                                                                                                                         |
| **32**      | **Certification                  pursuant to Rule 15d−14(b) of the Securities Exchange Act and 18 U.S.C.                  §1350** |

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