Document:

PGFM Draft
                                                                 August 15, 2002

                              EMPLOYMENT AGREEMENT

     THIS  AGREEMENT is made as of the ___ day of __________, 2002, by and among
NEIGHBORS  BANCSHARES,  INC., a bank holding company incorporated under the laws
of  the  State of Georgia (the "Company"); NEIGHBORS BANK, a proposed state bank
being  organized  under  the  laws  of  the  State  of  Georgia  (the  "Bank")
(collectively,  the  Company  and  the  Bank  are referred to hereinafter as the
"Employer");  and  RICHARD  EASON,  SR., a resident of the State of Georgia (the
"Executive").

                                    RECITALS:

     The  Employer  desires to employ the Executive as Senior Vice President and
Chief Financial Officer of the Company and the Bank and the Executive desires to
accept  such  employment.

     In  consideration  of  the  above  premises  and  the  mutual  agreements
hereinafter  set  forth,  the  parties  hereby  agree  as  follows:

1.     DEFINITIONS.  Whenever  used  in  this Agreement, the following terms and
       -----------
their  variant  forms  shall  have  the  meaning  set  forth  below:

     1.1     "AGREEMENT" shall mean this Agreement and any exhibits incorporated
              ---------
herein  together with any amendments hereto made in the manner described in this
Agreement.

     1.2     "AREA"  shall  mean  the  geographic  area within the boundaries of
              ----
Interstate  75  to  the  west,  Interstate 85 to the east, Interstate 285 to the
south and a line running horizontally from Interstate 75 to Interstate 85, which
line  intersects  with  the  northernmost  city limit of Jasper, Georgia, to the
north.  It  is the express intent of the parties that the Area as defined herein
is  the  area  where  the  Executive performs services on behalf of the Employer
under  this  Agreement  as  of  the  Effective  Date.

     1.3     "BUSINESS OF THE EMPLOYER" shall mean the business conducted by the
              ------------------------
Employer,  which  is  the  business  of  commercial  banking.

     1.4     "CAUSE"  shall  mean:
              -----

          1.4.1     With  respect  to  termination  by  the  Employer:

               (a)     A  material  breach of the terms of this Agreement by the
          Executive,  including, without limitation, failure by the Executive to
          perform  his  duties  and  responsibilities  in  the manner and to the
          extent  required under this Agreement, which remains uncured after the
          expiration  of  fifteen  (15)  days  following the delivery of written
          notice  of  such  breach to the Executive by the Employer. Such notice
          shall  (i)  specifically  identify  the  duties that the President and
          Chief  Executive  Officer  of  the  Company  or  the Bank believes the
          Executive  has  failed  to perform and (ii) state the facts upon which
          such  determination  is  made;

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               (b)     Conduct  by  the  Executive  that  amounts  to  fraud,
          dishonesty, disloyalty or willful misconduct in the performance of his
          duties  and  responsibilities  hereunder;

               (c)     Arrest  for,  charged  in  relation  to  (by  criminal
          information,  indictment or otherwise), or conviction of the Executive
          during  the  Term  of  a  crime  involving  breach  of  trust or moral
          turpitude  or  any  felony;

               (d)     Conduct  by  the  Executive  that  amounts  to  gross and
          willful  insubordination  or  inattention  to  his  duties  and
          responsibilities  hereunder;  or

               (e)     Conduct by the Executive that results in removal from his
          position  as  an  officer  or  executive of the Employer pursuant to a
          written  order by any regulatory agency with authority or jurisdiction
          over  the  Employer.

          1.4.2     With  respect  to  termination  by the Executive, a material
     diminution  in  the  powers,  responsibilities  or  duties of the Executive
     hereunder  or  a  material  breach  of  the  terms of this Agreement by the
     Employer,  which  remains  uncured after the expiration of thirty (30) days
     following  the delivery of written notice of such breach to the Employer by
     the  Executive.

     1.5     "CHANGE  OF  CONTROL"  means  any  one  of  the  following  events:
              -------------------

               (a)     the  acquisition  by  any  person  or  persons  acting in
          concert  of  the  then  outstanding  voting  securities  of either the
          Company or the Bank if, after the transaction, the acquiring person or
          persons  owns  controls or holds the power to vote fifty percent (50%)
          or  more of any class of voting securities of the Company or the Bank;

               (b)     within any twelve-month period (beginning on or after the
          Effective  Date), the persons who were directors of either the Company
          or  the  Bank  immediately  before  the beginning of such twelve-month
          period  (the "Incumbent Directors") shall cease to constitute at least
          a  majority of such Board of Directors; provided that any director who
          was  not  a  director  as of the beginning of such twelve-month period
          shall  be  deemed  to  be  an Incumbent Director if that director were
          elected  to such Board of Directors by, or on the recommendation of or
          with  the  approval  of, at least two-thirds of the directors who then
          qualified  as  Incumbent  Directors;  and  provided  further  that  no
          director  whose  initial assumption of office is in connection with an
          actual  or  threatened  election  contest  relating to the election of
          directors  shall  be  deemed  to  be  an  Incumbent  Director;

               (c)     a  reorganization,  merger or consolidation, with respect
          to  which  persons  who were the stockholders of either the Company or
          the  Bank  immediately  prior  to  such  reorganization,  merger  or
          consolidation  do  not,  immediately  thereafter,  own more than fifty
          percent  (50%)  of  the  combined voting power entitled to vote in the
          election  of  directors  of  the  reorganized,  merged or consolidated
          company's  then

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<PAGE>
          outstanding  voting  securities;  or

               (d)     the  sale, transfer or assignment of all or substantially
          all  of  the  assets  of  the  Company or the Bank to any third party.

     1.6     "CONFIDENTIAL  INFORMATION"  means data and information relating to
              -------------------------
the  business  of  the  Employer  (which  does not rise to the status of a Trade
Secret)  which  is  or  has  been  disclosed  to  the  Executive or of which the
Executive  became  aware  as  a  consequence  of  or  through  the  Executive's
relationship  to  the  Employer  and  which has value to the Employer and is not
generally  known to its competitors.  Confidential Information shall not include
any data or information that has been voluntarily disclosed to the public by the
Employer  (except  where  such  public disclosure has been made by the Executive
without authorization) or that has been independently developed and disclosed by
others,  or  that  otherwise  enters  the  public  domain  through lawful means.

     1.7     "DISABILITY"  shall  mean the inability of the Executive to perform
              ----------
each  of  his  material  duties  under  this  Agreement  for a period of six (6)
consecutive  months  as  certified  by  a  physician  chosen by the Employer and
reasonably  acceptable  to  the  Executive.

     1.8     "EFFECTIVE  DATE"  shall mean the date the Bank opens for business.
              ---------------

     1.9     "EMPLOYER  INFORMATION"  means  Confidential  Information and Trade
              ---------------------
Secrets.

     1.10     "INITIAL  TERM"  shall  mean that period of time commencing on the
               -------------
Effective  Date  and  running  until the earlier of the close of business on the
last  business  day immediately preceding the third anniversary of the Effective
Date  or  any  earlier  termination  of  employment  of the Executive under this
Agreement  as  provided  for  in  Section  3.

     1.11     "TERM"  shall  mean  the  Initial  Term and all subsequent renewal
               ----
periods.

     1.12     "TRADE  SECRETS"  means  Employer  information  including, but not
               --------------
limited  to,  technical  or nontechnical data, formulas, patterns, compilations,
programs,  devices,  methods,  techniques,  drawings, processes, financial data,
financial  plans,  product  plans  or  lists of actual or potential customers or
suppliers  which:

               (a)     derives  economic  value,  actual  or potential, from not
          being  generally  known  to,  and  not  being readily ascertainable by
          proper  means by, other persons who can obtain economic value from its
          disclosure  or  use;  and

               (b)     is  the  subject of efforts that are reasonable under the
          circumstances  to  maintain  its  secrecy.

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<PAGE>
2.     DUTIES.
       ------

     2.1     POSITION.  The  Executive  is employed as Senior Vice President and
             --------
Chief  Financial  Officer  of  the  Company  and  the  Bank  and, subject to the
direction  of  the  President and Chief Executive Officer of the Company and the
Bank,  shall  perform  and  discharge  well  and  faithfully  the  duties  and
responsibilities  of  the Executive as set forth on Exhibit "A" attached hereto.
                                                    -----------
The  Executive shall also perform such additional duties that may be assigned to
him  from  time  to  time  by  the  President and Chief Executive Officer of the
Company  and  the  Bank only after the Chief Executive Officer has solicited the
reasonable  opinion  of  the  Executive with respect to those additional duties.
The  Executive  shall  perform  the  duties  required under the Agreement at the
principal  offices  of  the  Bank.

     2.2     FULL-TIME  STATUS.  In  addition to the duties and responsibilities
             -----------------
specifically  assigned  to  the  Executive  pursuant  to Section 2.1 hereof, the
Executive  shall:

               (a)     devote  substantially  all  of his time, energy and skill
          during  regular business hours to the performance of the duties of his
          employment  (reasonable  vacations  and  reasonable  absences  due  to
          illness  excepted)  and  faithfully  and  industriously  perform  such
          duties;

               (b)     diligently follow and implement all reasonable and lawful
          financial  policies and decisions communicated to him by the President
          and  Chief  Executive  Officer  of  the  Company  and  the  Bank;  and

               (c)     timely  prepare  and  forward  to the President and Chief
          Executive  Officer  of  the  Company  and  the  Bank  all  reports and
          accountings  as  may  be  requested  of  the  Executive.

     2.3     PERMITTED  ACTIVITIES.  The  Executive  shall  devote  his  entire
             ---------------------
business  time, attention and energies to the Business of the Employer and shall
not  during the Term be engaged (whether or not during normal business hours) in
any  other  business  or  professional activity, whether or not such activity is
pursued  for  gain,  profit  or other pecuniary advantage; but this shall not be
construed  as  preventing  the  Executive  from:

               (a)     investing  his  personal  assets  in  businesses  which
          (subject to clause (b) below) are not in competition with the Business
          of the Employer and which will not require any services on the part of
          the  Executive  in  their  operation  or  affairs  and  in  which  his
          participation  is  solely  that  of  an  investor;

               (b)     purchasing  securities in any corporation, the securities
          of  which  are  regularly traded provided that such purchase shall not
          result  in  him  collectively  owning  beneficially  at  any time five
          percent  (5%)  or  more  of  the  equity securities of any business in
          competition  with  the  Business  of  the  Employer;  and

               (c)     participating  in  civic  and  professional  affairs  and
          organizations and conferences, preparing or publishing papers or books
          or  teaching  so  long as the

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<PAGE>
          President  and  Chief  Executive  Officer  of the Company and the Bank
          approves  in  writing  of  such  activities  prior  to the Executive's
          engaging  in  them.

3.     TERM  AND  TERMINATION.
       ----------------------

     3.1     TERM.     This  Agreement  shall  remain  in  effect  for the Term.
             ----
Commencing with the first day of the Initial Term, the Term shall renew each day
such  that  the Term remains a three-year term from day-to-day thereafter unless
any  party  gives  written  notice  to  the others of its or his intent that the
automatic  renewals  shall  cease.  In  the  event such notice of non-renewal is
properly  given,  this  Agreement  and  the Term shall expire on the third (3rd)
anniversary  of  the thirtieth (30th) day following the date such written notice
is  received.

     3.2     TERMINATION.  During  the  Term,  the  employment  of the Executive
             -----------
under  this  Agreement  may  be  terminated  only  as  follows:

          3.2.1     By  the  Employer:

               (a)     For  Cause, upon written notice to the Executive pursuant
          to  Section  1.4.1  hereof,  in which event the Employer shall have no
          further  obligation  to  the  Executive  except for the payment of any
          amounts  due  and  owing  under  Section  4  on  the effective date of
          termination;

               (b)     Without  Cause  at  any  time, provided that the Employer
          shall give the Executive thirty (30) days' prior written notice of its
          intent  to terminate, in which event the Employer shall be required to
          continue  to  meet  its obligations to the Executive under Section 4.1
          for  six  (6)  months  following  the  termination;  or

               (c)     Upon  the  Disability  of  the  Executive  at  any  time,
          provided  that the Employer shall give the Executive thirty (30) days'
          prior  written  notice of its intent to terminate, in which event, for
          six  (6)  months  following  the  date  of  termination  or  until the
          Executive  begins  receiving  payments  under  the Company's long-term
          disability  policy,  whichever  occurs  first,  the  Employer shall be
          required  to  continue  to  meet  its  obligations under Sections 4.1.

          3.2.2     By  the  Executive:

               (a)     For  Cause,  upon written notice to the Employer pursuant
          to Section 1.4.2 hereof, in which event the Employer shall be required
          to  continue  to  meet  its  obligations under Section 4.1 for six (6)
          months;  or

               (b)     Without Cause, provided that the Executive shall give the
          Employer  sixty  (60)  days'  prior  written  notice  of his intent to
          terminate,  in  which  event  the  Employer  shall  have  no  further
          obligation  to the Executive except for payment of any amounts due and
          owing  under  Section  4  on  the  effective  date of the termination.

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<PAGE>
          3.2.3     At  any  time upon mutual, written agreement of the parties.

          3.2.4     Notwithstanding  anything in this Agreement to the contrary,
     the  Term  shall  end  automatically  upon  the  Executive's  death.

     3.3     CHANGE OF CONTROL.  If the Executive terminates his employment with
             -----------------
the  Employer  under  this  Agreement  for  Cause  or  the  Employer  terminates
Executive's employment without Cause within six (6) months following a Change in
Control,  the Executive, or in the event of his subsequent death, his designated
beneficiaries  or  his  estate, as the case may be, shall receive, as liquidated
damages, in lieu of all other claims, a severance payment equal to one (1) times
the  Executive's then current Base Salary, to be paid in full on the last day of
the  month  following  the date of termination. In no event shall the payment(s)
described in this Section 3.3 exceed the amount permitted by Section 280G of the
Internal  Revenue  Code,  as  amended (the "Code").  Therefore, if the aggregate
present  value (determined as of the date of the Change of Control in accordance
with  the  provisions of Section 280G of the Code) of both the severance payment
and  all other payments to the Executive in the nature of compensation which are
contingent  on  a change in ownership or effective control of the Company or the
Bank  or  in the ownership of a substantial portion of the assets of the Company
or  the  Bank (the "Aggregate Severance") would result in a "parachute payment,"
as  defined  under  Section 280G of the Code, then the Aggregate Severance shall
not  be  greater  than  an  amount equal to 2.99 multiplied by Executive's "base
amount" for the "base period, " as those terms are defined under Section 280G of
the  Code.  In  the  event  the  Aggregate  Severance  is required to be reduced
pursuant to this Section 3.3, the Executive shall be entitled to determine which
portions  of  the  Aggregate  Severance  are to be reduced so that the Aggregate
Severance  satisfies  the  limit  set  forth  in  the  preceding  sentence.
Notwithstanding  any  provision in this Agreement, if the Executive may exercise
his  right  to  terminate  employment  under  this  Section 3.3 or under Section
3.2.2(a),  the  Executive  may  choose  which  provision  shall  be  applicable.

     3.4     EFFECT  OF  TERMINATION.  Upon  termination  of  the  Executive's
             -----------------------
employment  hereunder  for  any  reason,  the  Employer  shall  have  no further
obligations  to  the  Executive  or  the Executive's estate with respect to this
Agreement,  except  for  the payment of any amounts accrued or otherwise due and
owing  under  Section  4  hereof  and  unpaid  as  of  the effective date of the
termination  of  employment and payments set forth in Sections 3.2.1(b) and (c),
Section  3.2.2(a),  or  Section  3.3  as  applicable.

4.     COMPENSATION.  The  Executive  shall  receive  the  following  salary and
       ------------
benefits  during  the  Term,  except  as  otherwise  provided  below:

     4.1     BASE  SALARY.  The Executive shall be compensated at an annual base
             ------------
rate of $100,000 (the "Base Salary").  The obligation for payment of Base Salary
shall  be  apportioned  between  the Company and the Bank as they may agree from
time  to  time  in  their sole discretion.  The Executive's Base Salary shall be
reviewed  by  the  Board  of  Directors  of  the  Company  and the Bank at least
annually, and the Executive shall be entitled to receive annually an increase in
such  amount,  if  any,  as  may  be determined by the Board of Directors of the
Company  or  the  Bank  based  on their respective evaluation of the Executive's
performance.  Base  Salary  shall  be  payable in accordance with the Employer's
normal  payroll  practices.

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<PAGE>
     4.2     INCENTIVE COMPENSATION.  The Executive shall be eligible to receive
             ----------------------
annual  bonus  compensation,  if  any,  as  may  be  determined  by the Board of
Directors  of  the  Company  or  the Bank pursuant to any incentive compensation
program  as  may  be  adopted  from  time  to  time  by  the  Employer.

     4.3     STOCK  AWARDS.  The  Executive  shall be granted a restricted stock
             -------------
award  for  a  number  of  shares of the Company's common stock equal to two and
one-half  percent  (2  %)  of  the shares of stock sold in the Company's initial
public  offering.  The  award  will  become  vested and exercisable in one-third
(1/3)  increments, commencing on the first anniversary of the Effective Date and
continuing  for  the  next two successive anniversaries; provided, however, that
the number of shares subject to such award shall vest, in whole or in part, only
upon  the  Executive's satisfaction of performance goals determined by the Board
of  Directors  of  the  Company.

     4.4     BUSINESS  EXPENSES;  MEMBERSHIPS.  The Employer specifically agrees
             --------------------------------
to  reimburse  the  Executive  for:

          (a)      reasonable and necessary business expenses (including travel)
     incurred  by  him  in  the  performance  of  his  duties as approved by the
     President  and  Chief  Executive  Officer  of the Company and the Bank; and

          (b)     reasonable  dues  and business related expenditures associated
     with  membership  in  trade  and professional associations, as are mutually
     agreed  upon by the Executive and the Employer, which are commensurate with
     the  Executive's  position;

provided,  however,  that  the  Executive  shall,  as  a  condition  of  any
reimbursement,  submit verification of the nature and amount of such expenses in
accordance with reimbursement policies from time to time adopted by the Employer
and in sufficient detail to comply with rules and regulations promulgated by the
Internal  Revenue  Service.

     4.5     VACATION.  On  a  non-cumulative  basis,  the  Executive  shall  be
             --------
entitled  to  three (3) weeks of vacation in each successive twelve-month period
during  the  Term,  during  which  his  compensation  shall  be  paid  in  full.

     4.6     BENEFITS.  In  addition  to  the benefits specifically described in
             --------
this  Agreement,  the  Executive  shall  be  entitled to such benefits as may be
available  from time to time to executives of the Employer similarly situated to
the  Executive.  All  such  benefits  shall  be  awarded  and  administered  in
accordance  with  the Employer's standard policies and practices.  Such benefits
may  include,  by  way  of  example  only,  profit-sharing  plans, retirement or
investment  funds,  dental, health, life and disability insurance benefits, sick
leave  and  such  other  benefits  as  the  Employer  deems  appropriate.

     4.7     WITHHOLDING.  The  Employer  may  deduct  from  each  payment  of
             -----------
compensation  hereunder  all  amounts  required  to  be deducted and withheld in
accordance  with applicable federal and state income, FICA and other withholding
requirements.

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<PAGE>
5.     BANK  INFORMATION.
       -----------------

     5.1     OWNERSHIP  OF BANK INFORMATION.   All Employer Information received
             ------------------------------
or  developed  by  the  Executive while employed by the Employer will remain the
sole  and  exclusive  property  of  the  Employer.

     5.2     OBLIGATIONS  OF  THE  EXECUTIVE.  The  Executive  agrees:
             -------------------------------

          (a)     to  hold  Employer  Information  in  strictest  confidence;

          (b)     not  to  use,  duplicate,  reproduce,  distribute, disclose or
     otherwise  disseminate  Employer Information or any physical embodiments of
     Employer  Information;  and

          (c)     in  any  event, not to take any action causing or fail to take
any  action  necessary  in order to prevent any Employer Information from losing
its  character  or  ceasing  to  qualify  as Confidential Information or a Trade
Secret.

In  the  event  that  the  Executive is required by law to disclose any Employer
Information,  the  Executive will not make such disclosure unless (and then only
to  the extent that) the Executive has been advised by independent legal counsel
that such disclosure is required by law and then only after prior written notice
is  given  to the Employer when the Executive becomes aware that such disclosure
has  been  requested and is required by law.  This Section 5 shall survive for a
period  of  two (2) years following termination of this Agreement for any reason
with  respect to Confidential Information, and shall survive termination of this
Agreement  for  any  reason  for so long as is permitted by applicable law, with
respect  to  Trade  Secrets.

     5.3     DELIVERY  UPON  REQUEST  OR  TERMINATION.  Upon  request  by  the
             ----------------------------------------
Employer, and in any event upon termination of his employment with the Employer,
the  Executive  will  promptly deliver to the Employer all property belonging to
the  Employer,  including,  without limitation, all Employer Information then in
his  possession  or  control.

6.     NON-COMPETITION.  The  Executive agrees that during his employment by the
       ---------------
Employer  hereunder  and,  in  the  event  of  his  termination:

     -    by the Employer for Cause pursuant to Section 3.2.1(a),
     -    by the Executive without Cause pursuant to Section 3.2.2(b), or
     -    by the Executive in connection with a Change of Control pursuant to
          Section 3.3,

for  a  period  of  twenty-four  (24)  months thereafter, or in the event of the
Executive's  termination  by  the  Employer  without  Cause  pursuant to Section
3.2.1(b),  for  six  (6)  months thereafter, he will not (except on behalf of or
with  the  prior  written  consent  of  the  Employer),  within the Area, either
directly  or  indirectly,  on  his  own behalf or in the service or on behalf of
others,  as an executive employee or in any other capacity which involves duties
and  responsibilities similar to those undertaken for the Employer (including as
an  organizer  or  proposed  executive  officer of a new

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<PAGE>
financial  institution),  engage  in  any  business  which  is  the  same  as or
essentially  the  same  as  the  Business  of  the  Employer.

7.     NON-SOLICITATION  OF  CUSTOMERS.  The  Executive  agrees  that during his
       -------------------------------
employment  by  the  Employer  hereunder  and,  in the event of his termination:

     -    by the Employer for Cause pursuant to Section 3.2.1(a),
     -    by the Executive without Cause pursuant to Section 3.2.2(b), or
     -    by the Executive in connection with a Change of Control pursuant to
          Section 3.3,

for  a  period  of  twenty-four  (24)  months thereafter, or in the event of the
Executive's  termination  by  the  Employer  without  Cause  pursuant to Section
3.2.1(b),  for  six  (6)  months thereafter, he will not (except on behalf of or
with  the  prior  written  consent of the Employer), within the Area, on his own
behalf  or in the service or on behalf of others, solicit, divert or appropriate
or  attempt  to  solicit,  divert  or  appropriate, any business from any of the
Employer's  customers,  including  prospective  customers actively sought by the
Employer,  with  whom  the Executive has or had material contact during the last
two  (2) years of his employment, for purposes of providing products or services
that  are  competitive  with  those  provided  by  the  Employer.

8.     NON-SOLICITATION  OF  EMPLOYEES.  The  Executive  agrees  that during his
       -------------------------------
employment by the Employer hereunder and, in the event of his termination:

     -    by the Employer for Cause pursuant to Section 3.2.1(a),
     -    by the Executive without Cause pursuant to Section 3.2.2(b), or
     -    by the Executive in connection with a Change of Control pursuant to
          Section 3.3,

for  a  period  of  twenty-four  (24)  months thereafter, or in the event of the
Executive's  termination  by  the  Employer  without  Cause  pursuant to Section
3.2.1(b),  for  six  (6) months thereafter, he will not, within the Area, on his
own  behalf  or  in the service or on behalf of others, solicit, recruit or hire
away  or attempt to solicit, recruit or hire away, any employee of the Employer,
whether  or  not:

     -    such employee is a full-time employee or a temporary employee of the
          Employer,
     -    such employment is pursuant to written agreement, or
     -    such employment is for a determined period or is at will.

9.     REMEDIES.  The  Executive agrees that the covenants contained in Sections
       --------
5 through 8 of this Agreement are of the essence of this Agreement; that each of
the covenants is reasonable and necessary to protect the business, interests and
properties  of  the  Employer,  and  that  irreparable  loss  and damage will be
suffered  by the Employer should he breach any of the covenants.  Therefore, the
Executive  agrees and consents that, in addition to all the remedies provided by
law  or  in  equity,  the  Employer shall be entitled to a temporary restraining
order  and  temporary  and  permanent  injunctions  to  prevent  a  breach  or
contemplated  breach  of  any  of the covenants.  The Employer and the Executive
agree  that  all  remedies  available  to  the  Employer  or  the  Executive, as
applicable,  shall  be  cumulative.

                                        9
<PAGE>
10.     SEVERABILITY.  The parties agree that each of the provisions included in
        ------------
this  Agreement is separate, distinct and severable from the other provisions of
this  Agreement  and  that  the  invalidity or unenforceability of any Agreement
provision shall not affect the validity or enforceability of any other provision
of this Agreement.  Further, if any provision of this Agreement is ruled invalid
or  unenforceable  by  a  court  of competent jurisdiction because of a conflict
between  the  provision  and  any applicable law or public policy, the provision
shall  be  redrawn  to  make  the  provision  consistent  with,  and  valid  and
enforceable  under,  the  law  or  public  policy.

11.     NO SET-OFF BY THE EXECUTIVE.  The existence of any claim, demand, action
        ---------------------------
or cause of action by the Executive against the Employer whether predicated upon
this  Agreement  or otherwise, shall not constitute a defense to the enforcement
by  the  Employer  of  any  of  its  rights  hereunder.

12.     NOTICE.  All  notices  and  other  communications  required or permitted
        ------
under  this  Agreement shall be in writing and shall be delivered by hand or, if
mailed,  shall  be  sent  via  the United States Postal Service, certified mail,
return  receipt requested or by overnight courier.  All notices hereunder may be
delivered  by  hand  or  overnight  courier,  in which event the notice shall be
deemed effective when delivered. All notices and other communications under this
Agreement  shall  be  given  to  the  parties hereto at the following addresses:

          (i)  If  to  the  Company,  to  it  at:

               Neighbors  Bancshares,  Inc.
               11285  Elkins  Road
               Building  E
               Roswell,  GA  30076

        (ii)  If  to  the  Bank,  to  it  at:

               Neighbors  Bank
               2320  Old  Milton  Parkway
               Alpharetta,  GA  30004

        (iii)  If  to  the  Executive,  to  him  at:
               _____________________
               _____________________

Any  party  hereto  may  change  his  or  its address by advising the others, in
writing,  of  such  change  of  address.

13.     ASSIGNMENT.  Neither  party hereto may assign or delegate this Agreement
        ----------
or  any  of  its rights and obligations hereunder without the written consent of
the  other  party  to  this  Agreement.

14.     WAIVER.  A  waiver  by one party to this Agreement of any breach of this
        ------
Agreement  by the other party to this Agreement shall not be effective unless in
writing,  and no waiver shall operate or be construed as a waiver of the same or
another  breach  on  a  subsequent  occasion.

                                       10
<PAGE>
15.     ARBITRATION.  Any  controversy  or  claim  arising out of or relating to
        -----------
this contract, or the breach thereof, shall be settled by binding arbitration in
accordance  with  the  Commercial  Arbitration Rules of the American Arbitration
Association.  Judgment  upon the award rendered by the arbitrator may be entered
only  in  a  state  court of Fulton County or the federal court for the Northern
District  of Georgia.  The Employer and the Executive agree to share equally the
fees  and  expenses  associated  with  the  arbitration  proceedings.
EXECUTIVE  MUST  INITIAL  HERE:_______.

16.     ATTORNEYS'  FEES.  In the event that the parties have complied with this
        ----------------
Agreement  with respect to arbitration of disputes and litigation ensues between
the  parties  concerning  the  enforcement  of  an  arbitration award, the party
prevailing  in such litigation shall be entitled to receive from the other party
all reasonable costs and expenses, including without limitation attorneys' fees,
incurred  by  the  prevailing  party in connection with such litigation, and the
other  party  shall pay such costs and expenses to the prevailing party promptly
upon  demand  by  the  prevailing  party.

17.     APPLICABLE  LAW.  This  Agreement  shall be construed and enforced under
        ---------------
and  in  accordance  with  the  laws  of  the  State  of  Georgia.

18.     INTERPRETATION.  Words  importing any gender include all genders.  Words
        --------------
importing  the singular form shall include the plural and vice versa.  The terms
"herein",  "hereunder", "hereby", "hereto", "hereof" and any similar terms refer
to  this  Agreement.  Any captions, titles or headings preceding the text of any
article,  section  or  subsection herein are solely for convenience of reference
and  shall  not  constitute  part  of  this  Agreement  or  affect  its meaning,
construction  or  effect.

19.     ENTIRE  AGREEMENT.  This  Agreement  embodies  the  entire  and  final
        -----------------
agreement  of  the  parties  on the subject matter stated in this Agreement.  No
amendment  or  modification of this Agreement shall be valid or binding upon the
Employer  or  the  Executive  unless made in writing and signed by both parties.
All  prior  understandings and agreements relating to the subject matter of this
Agreement  are  hereby  expressly  terminated.

20.     RIGHTS  OF  THIRD  PARTIES.  Nothing  herein expressed is intended to or
        --------------------------
shall  be  construed to confer upon or give to any person, firm or other entity,
other  than  the  parties  hereto  and  their  permitted  assigns, any rights or
remedies  under  or  by  reason  of  this  Agreement.

21.     SURVIVAL.  The  obligations  of the Executive pursuant to Sections 5, 6,
        --------
7,  8  and  9  shall  survive the termination of the employment of the Executive
hereunder  for  the  period  designated under each of those respective sections.

22.     JOINT  AND  SEVERAL.  The obligations of the Company and the Bank to the
        -------------------
Executive hereunder shall be joint and several.

                                       11
<PAGE>
     IN  WITNESS  WHEREOF,  the  Employer  and  the  Executive have executed and
delivered  this  Agreement  as  of  the  date  first  shown  above.

                              NEIGHBORS  BANCSHARES,  INC.

                              By:  _____________________________________
                                   Signature

                                   _____________________________________
                                   Print  Name

                                   _____________________________________
                                   Title

                              NEIGHBORS  BANK

                              By:  _____________________________________
                                   Signature

                                   _____________________________________
                                   Print  Name

                                   _____________________________________
                                   Title

                              _____________________________________
                              RICHARD  EASON,  SR.

                              Date:________________________________

                                       12
<PAGE>
                                   EXHIBIT "A"
                                   -----------

                             DUTIES OF THE EXECUTIVE
                             -----------------------

                SENIOR VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

Function:
---------

The Senior Vice President and Chief Financial Officer has overall responsibility
for the financial matters of the Employer.

Required  Qualifications:
------------------------

[PLEASE  COMPLETE]

Principal  Accountabilities:
---------------------------

[PLEASE  COMPLETE]

                                      A-1
<PAGE>NEIGHBORS BANCSHARES, INC.
                           RESTRICTED STOCK AGREEMENT
                           (PERFORMANCE-BASED VESTING)

     THIS  RESTRICTED STOCK AGREEMENT (the "Agreement") is made and entered into
as  of  ________________,  2002  (the  "Award  Date"),  by and between NEIGHBORS
BANCSHARES,  INC.  (the  "Company"),  a bank holding company organized under the
laws  of  the  State  of  Georgia,  and  PHILLIP  L.  BALDWIN  (the "Employee").

                                   BACKGROUND

     A.     The  Company  desires  to  grant  to the Employee a restricted stock
award to purchase shares of the Company's common stock, $.50 par value per share
(the  "Common  Stock") for the purpose of securing and retaining the services of
the  Employee  and promoting and increasing the Employee's personal interests in
the  welfare  of  the  Company.

     B.     The Board of Directors has authorized the grant to the Employee of a
restricted  stock  award  to  purchase  Common  Stock.

     C.     The  Company  and  the  Employee  wish  to confirm herein the terms,
conditions,  and  restrictions  of  the  restricted  stock  award.

     For  and  in  consideration of the premises, the mutual covenants contained
herein,  and  other  good  and valuable consideration, the parties hereto agree:

                                    SECTION 1
                                 AWARD OF SHARES

     1.1     Award  of Shares.  Subject to the terms, restrictions, limitations,
             ----------------
and  conditions  stated  herein,  the  Company  hereby  awards  to  the Employee
_______________  [2%  OF  SHARES  OF  COMMON  STOCK  SOLD  IN THE INITIAL PUBLIC
OFFERING]  shares  of  the  Common  Stock  (the  "Restricted  Shares").

     1.2     Vesting  of Restricted Shares.  The Restricted Shares shall vest or
             -----------------------------
be  forfeited  according  to the Vesting Schedule attached hereto as Schedule 1.
The  Restricted Shares which have become vested pursuant to the Vesting Schedule
are herein referred to as the "Vested Shares."  The date on which the Restricted
Shares  become  vested  shall  be  referred to herein individually as a "Vesting
Date"  and,  collectively,  as  "Vesting  Dates."

     1.3     Condition  to  Delivery  of  Restricted  Shares.
             -----------------------------------------------

                                        1
<PAGE>
          (a)     In  order  to  not forfeit the Restricted Shares, the Employee
     must  deliver  to the Company, within thirty (30) days after the earlier of
     (a)  the  date  on which any Restricted Shares become Vested Shares, or (b)
     the  making of an election pursuant to Code Section 83(b), as to all or any
     portion  of the Restricted Shares, either cash or a certified check payable
     to  the  Company  in the amount of all withholding tax obligations (whether
     federal,  state  or local), imposed on the Company by reason of the vesting
     of  the  Restricted  Shares  or  the making of an election pursuant to Code
     Section  83(b),  as  applicable,  except  as  provided  in  Section 1.3(b).

          (b)     If  the  Employee  does  not make an election pursuant to Code
     Section  83(b), in lieu of paying the withholding tax obligation in cash or
     by  certified  check,  as  described in Subsection 1.3(a), the Employee may
     elect  to  have  the actual number of Vested Shares reduced by the smallest
     number  of  whole shares of Common Stock which, when multiplied by the Fair
     Market  Value  of the Common Stock on the Vesting Date as determined by the
     Board  of Directors, is sufficient to satisfy the amount of the withholding
     tax  obligations  imposed  on  the  Company by reason of the vesting of the
     Restricted  Shares  (the  "Withholding  Election"). The Employee may make a
     Withholding  Election  only  if  both  of the following conditions are met:

          (1)     the  Withholding Election must be made on or prior to the date
     on  which the amount of tax required to be withheld is determined (the "Tax
     Date")  by  executing  and  delivering  to the Company a properly completed
     Notice  of  Withholding  Election,  in  substantially the form of Exhibit A
                                                                       ---------
     attached  hereto;  and

          (2)     any  Withholding  Election  made will be irrevocable; however,
     the  Board of Directors may, in its sole discretion, disapprove and give no
     effect  to  any  Withholding  Election.

     1.4     Restricted Shares Held by the Share Custodian.  The Employee hereby
             ---------------------------------------------
authorizes and directs the Company to deliver to the Secretary of the Company or
such other officer of the Company as may be designated by the Board of Directors
(the  "Share Custodian") any stock certificate issued by the Company to evidence
Restricted Shares, as well as any stock certificate issuable to the Employee due
to  an  event described in Section 3.1 below. The Share Custodian shall hold any
such  stock  certificates  and  shall  deliver  a  stock  certificate  for  the
appropriate  number  of (i) Vested Shares to the Employee upon the occurrence of
each  Vesting  Date  provided  the  Company  has  satisfied  his withholding tax
obligation;  or  (ii)  Restricted  Shares  to the Company to the extent they are
forfeited  by  the  Employee.

     The  Employee  hereby  irrevocably  appoints  the  Share Custodian, and any
successor  thereto, as the true and lawful attorney-in-fact of the Employee with
full power and authority to execute any stock transfer power or other instrument
necessary  to  transfer  the  Restricted Shares and any other stock certificates
held  by  the Share Custodian to the Company in the name, place and stead of the
Employee.  The  term  of  such  appointment shall commence on the Award Date and
shall  continue  until  all  shares  of  Common Stock have been delivered to the
Employee  and

                                        2
<PAGE>
the  Company  in accordance with the terms of this Agreement. The Employee shall
complete  an  irrevocable  stock  power  in  favor  of  the  Share  Custodian in
substantially  the form of Exhibit B attached hereto to effect the provisions of
                           ---------
this  Section  1.4.

     1.5     Rights  as  Stockholder.  The  Employee  shall  have no rights as a
             -----------------------
stockholder  with respect to any Restricted Shares until a stock certificate for
the shares is issued in the Employee's name.  Once any such stock certificate is
issued  and  delivered  to the Share Custodian, during the period that the Share
Custodian  holds  the  Restricted  Shares, the Employee shall be entitled to all
rights  associated  with  ownership of the Restricted Shares, except as follows:
(a)  if additional shares of Common Stock become issuable to the Employee due to
an event described in Section 3.1 below, any stock certificate representing such
shares  shall  be  delivered  to  the Share Custodian and those shares of Common
Stock  shall  be  subject  to  forfeiture  to  the  same extent as the shares of
Restricted  Shares  to  which they relate; (b) the Employee shall have no rights
inconsistent  with  the  terms  of  this  Agreement, such as the restrictions on
transfer  described  in  Section  2.2  below;  and (c) any cash dividends on the
Restricted Shares will be paid to the Employee only to the extent the Restricted
Shares  subsequently  become  Vested  Shares.

     1.6     Investment  Representations.  The  Employee  hereby  represents,
             ---------------------------
warrants,  covenants,  and  agrees  with  the  Company  as  follows:

          (a)     The  Restricted  Shares being acquired by the Employee will be
     acquired  for  the  Employee's own account without the participation of any
     other  person,  with  the  intent  of  holding  the  Restricted  Shares for
     investment and without the intent of participating, directly or indirectly,
     in  a  distribution of the Restricted Shares and not with a view to, or for
     resale  in  connection with, any distribution of the Restricted Shares, nor
     is  the  Employee  aware  of  the  existence  of  any  distribution  of the
     Restricted  Shares;

          (b)     The Employee is not acquiring the Restricted Shares based upon
     any  representation,  oral  or  written,  by any person with respect to the
     future  value  of, or income from, the Restricted Shares but rather upon an
     independent  examination  and  judgment as to the prospects of the Company;

          (c)     The  Restricted  Shares  were  not  offered to the Employee by
     means  of  publicly disseminated advertisements or sales literature, nor is
     the  Employee  aware  of  any  offers  made to other persons by such means;

          (d)     The  Employee  is  able  to  bear  the  economic  risks of the
     investment  in the Restricted Shares, including the risk of a complete loss
     of  the  Employee's  investment  therein;

          (e)     The Employee understands and agrees that the Restricted Shares
     will  be  issued  and  sold  to the Employee without registration under any
     state  law relating to the registration of securities for sale, and will be
     issued  and  sold in reliance on the exemptions from registration under the
     Securities  Act  of 1933 (the "1933 Act"), provided

                                        3
<PAGE>
     by  Sections  3(b)  and/or  4(2)  thereof  and  the  rules  and regulations
     promulgated  thereunder;

          (f)     The  Restricted  Shares  cannot  be  offered for sale, sold or
     transferred  by  the  Employee  other  than  pursuant  to: (i) an effective
     registration under the 1933 Act or in a transaction otherwise in compliance
     with  the  1933  Act;  and  (ii)  evidence  satisfactory  to the Company of
     compliance  with the applicable securities laws of other jurisdictions. The
     Company  shall  be entitled to rely upon an opinion of counsel satisfactory
     to  it  with  respect  to  compliance  with  the  above  laws;

          (g)     The  Company  will  be  under  no  obligation  to register the
     Restricted Shares or to comply with any exemption available for sale of the
     Restricted  Shares  without  registration or filing, and the information or
     conditions  necessary  to permit routine sales of securities of the Company
     under  Rule  144 of the 1933 Act are not now available and no assurance has
     been  given  that it or they will become available. The Company is under no
     obligation  to  act  in  any  manner  so as to make Rule 144 available with
     respect  to  the  Restricted  Shares;

          (h)     The  Employee  has  and  has  had  complete  access to and the
     opportunity  to review and make copies of all material documents related to
     the  business  of  the  Company,  including, but not limited to, contracts,
     financial  statements,  tax  returns,  leases,  deeds,  and other books and
     records.  The Employee has examined such of these documents as the Employee
     has  wished  and  is familiar with the business and affairs of the Company.
     The  Employee  realizes  that  the  purchase  of the Restricted Shares is a
     speculative investment and that any possible profit therefrom is uncertain;

          (i)     The  Employee  has had the opportunity to ask questions of and
     receive answers from the Company and any person acting on its behalf and to
     obtain  all  material  information reasonably available with respect to the
     Company and its affairs. The Employee has received all information and data
     with  respect to the Company which the Employee has requested and which the
     Employee  has  deemed  relevant  in  connection  with the evaluation of the
     merits  and  risks  of  the  Employee's  investment  in  the  Company;

          (j)     The  Employee  has  such knowledge and experience in financial
     and  business matters that the Employee is capable of evaluating the merits
     and  risks  of  the  purchase  of  the  Restricted Shares hereunder and the
     Employee  is  able  to  bear  the  economic  risk  of  such  purchase;  and

          (k)     The  agreements,  representations,  warranties,  and covenants
     made  by  the  Employee herein extend to and apply to all of the Restricted
     Shares  of  the  Company issued to the Employee pursuant to this Agreement.
     Acceptance  by the Employee of the certificate representing such Restricted
     Shares  shall  constitute  a  confirmation  by  the  Employee that all such
     agreements, representations, warranties, and covenants made herein shall be
     true  and  correct  at  that  time.

                                        4
<PAGE>
                                    SECTION 2
               FORFEITURE AND RESTRICTIONS UPON RESTRICTED SHARES

     2.1     Forfeiture  Upon  Termination of Employment.  Upon a Termination of
             -------------------------------------------
Employment  with  the  Company  and/or  its affiliates for any reason prior to a
Vesting  Date, all Restricted Shares that have not become Vested Shares prior to
such  Termination  of  Employment shall be forfeited as of the effective date of
such  Termination  of  Employment.

     2.2     Restrictions  on Transfer of Restricted Shares.  The Employee shall
             ----------------------------------------------
effect  no  Disposition  of  Restricted  Shares prior to the date the shares are
delivered  to him by the Share Custodian; provided, however, that this provision
shall not preclude a transfer by will or the laws of descent and distribution in
the  event  of  the  death  of  the  Employee.

     2.3     Legends.  Any  stock certificate representing the Restricted Shares
             -------
issued  to  the  Share Custodian shall be endorsed with the following legend and
the  Employee  shall  not  effect  any transfer of the Restricted Shares without
first  complying  with  the  restrictions  on transfer described in such legend:

                             TRANSFER IS RESTRICTED

     THE  SECURITIES  EVIDENCED  BY  THIS  CERTIFICATE  ARE  SUBJECT  TO
     RESTRICTIONS  ON  TRANSFER  SET  FORTH IN A RESTRICTED STOCK AGREEMENT
     DATED  __________________,  A  COPY  OF  WHICH  IS  AVAILABLE FROM THE
     COMPANY.

     THE  SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
     UNDER  THE  SECURITIES  ACT  OF 1933, AS AMENDED, AND MAY NOT BE SOLD,
     TRANSFERRED,  ASSIGNED,  OR  HYPOTHECATED  UNLESS  (1)  THERE  IS  AN
     EFFECTIVE  REGISTRATION  UNDER  SUCH ACT COVERING SUCH SECURITIES, (2)
     THE  TRANSFER  IS  MADE  IN COMPLIANCE WITH RULE 144 PROMULGATED UNDER
     SUCH ACT, OR (3) THE ISSUER RECEIVES AN OPINION OF COUNSEL, REASONABLY
     SATISFACTORY  TO  THE  COMPANY,  STATING  THAT  SUCH  SALE,  TRANSFER,
     ASSIGNMENT  OR  HYPOTHECATION  IS  EXEMPT  FROM  THE  REGISTRATION
     REQUIREMENTS  OF  SUCH  ACT.

     The  Employee  agrees  that  the Company may also endorse any other legends
required  by  applicable  federal  or  state  securities  laws.

     The  Company need not register a transfer of the Restricted Shares, and may
also  instruct  its  transfer agent, if any, not to register the transfer of the
Restricted  Shares  unless the conditions specified in the foregoing legends are
satisfied.

     2.4     Removal  of  Legend  and  Transfer  Restrictions.
             ------------------------------------------------

                                        5
<PAGE>
          (a)     The restrictions described in the first sentence of the legend
     set  forth  in Section 2.3 above and any related stop transfer instructions
     may  be  removed  and  the  Company  shall  issue  necessary  replacement
     certificates  without  that portion of the legend to the Employee as of the
     date  that  the  Share  Custodian  may deliver any such certificates to the
     Employee  pursuant  to  Section  1.4  above.

          (b)     The  restrictions  described  in  the  second  sentence of the
     legend  set  forth  in  Section  2.3  above  and  any related stop transfer
     instructions  may  be  removed  and  the  Company  shall  issue  necessary
     replacement certificates without that portion of the legend to the Employee
     if  the  shares  of  Common  Stock represented by the certificates: (i) are
     registered  under the 1933 Act and a prospectus meeting the requirements of
     Section  10 of the 1933 Act is available; (ii) at such time as permitted by
     Rule  144(k)  promulgated  under  the 1933 Act; or (iii) upon receipt of an
     opinion  of  counsel,  reasonably  satisfactory to the Company stating that
     such  sale,  transfer,  assignment  or  hypothecation  is  exempt  from the
     requirements  of  the  1933  Act.

                                    SECTION 3
                               GENERAL PROVISIONS

     3.1     Change  in  Capitalization.
             --------------------------

          (a)     If  the number of outstanding shares of the Common Stock shall
     be  increased  or  decreased as a result of a subdivision or combination of
     shares  or  the  payment  of  a stock dividend in shares of Common Stock to
     holders  of  outstanding  shares  of  Common Stock or any other increase or
     decrease  in  the  number of shares of Common Stock outstanding is effected
     without  receipt of consideration by the Company, an appropriate adjustment
     shall  be  made  by  the  Board  of  Directors  in  the  number and kind of
     Restricted  Shares such that the Employee's proportionate interest shall be
     maintained  as  before  the  occurrence  of the event. No fractional shares
     shall  be  issued  in  making  such adjustment. All adjustments made by the
     Board  of  Directors  under  this  Section  shall  be  final,  binding, and
     conclusive.

          (b)     In  the  event  of  a  merger  or consolidation, extraordinary
     dividend  (including  a  spin-off),  reorganization  or other change in the
     corporate  structure  of  the Company or the Common Stock or a tender offer
     for  shares  of  Common  Stock,  an appropriate adjustment may be made with
     respect  to the Restricted Shares such that other securities, cash or other
     property  may  be  substituted  for  the  Common Stock held by the Employee
     pursuant  to  this  Agreement.

          (c)     The  existence of this Agreement shall not affect the right or
     power of the Company to make or authorize any adjustment, reclassification,
     reorganization  or  other  change in its capital or business structure, any
     merger  or  consolidation  of  the  Company,  any  issue  of debt or equity
     securities  having  preferences or priorities as to the Common

                                        6
<PAGE>
     Stock or the rights thereof, the dissolution or liquidation of the Company,
     any sale or transfer of all or part of its business or assets, or any other
     corporate  act  or  proceeding.

     3.2     Governing  Laws.  This  Agreement  shall be construed, administered
             ---------------
and  enforced  according to the laws of the State of Georgia; provided, however,
that  no Restricted Shares shall be issued except, in the reasonable judgment of
the  Board  of  Directors,  in compliance with exemptions under applicable state
securities  laws  of  the  state in which the Employee resides, and/or any other
applicable  securities  laws.

     3.3     Successors.  This  Agreement shall be binding upon and inure to the
             ----------
benefit  of  the heirs, legal representatives, successors, and permitted assigns
of  the  parties.

     3.4     Notice.  All notices and other communications required or permitted
             ------
under  this  Agreement shall be in writing and shall be delivered by hand or, if
mailed,  shall  be  sent  via  the United States Postal Service, certified mail,
return  receipt requested or by overnight courier.  All notices hereunder may be
delivered  by  hand  or  overnight  courier,  in which event the notice shall be
deemed  effective  when  delivered.  All  notices and other communications under
this  Agreement shall be given to the parties hereto at the following addresses:

          (i)  If to the Company, to it at:

               Neighbors  Bancshares,  Inc.
               11285  Elkins  Road
               Building  E
               Roswell,  GA  30076

         (ii)  If to the Employee, to him at:
               _____________________
               _____________________

Any  party  hereto  may  change  his  or  its address by advising the others, in
writing,  of  such  change  of  address.

     3.5     Severability.  In  the event that any one or more of the provisions
             ------------
or  portion  thereof contained in this Agreement shall for any reason be held to
be  invalid,  illegal,  or  unenforceable  in  any  respect,  the same shall not
invalidate  or otherwise affect any other provisions of this Agreement, and this
Agreement  shall  be  construed  as  if  the  invalid,  illegal or unenforceable
provision  or  portion  thereof  had  never  been  contained  herein.

     3.6     Entire  Agreement.  This  Agreement  expresses  the  entire
             -----------------
understanding  and  agreement of the parties with respect to the subject matter.
This  Agreement may be executed in two or more counterparts, each of which shall
be  deemed  an  original  but  all  of  which  shall constitute one and the same
instrument.

                                        7
<PAGE>
     3.7     Violation.  Any Disposition of the Restricted Shares or any portion
             ---------
thereof  shall  be  a violation of the terms of this Agreement and shall be void
and  without  effect.

     3.8     Headings.  Paragraph  headings  used  herein are for convenience of
             --------
reference  only  and  shall  not  be  considered  in  construing this Agreement.

     3.9     Specific  Performance.  In  the  event  of any actual or threatened
             ---------------------
default  in,  or  breach of, any of the terms, conditions and provisions of this
Agreement,  the  party or parties who are thereby aggrieved shall have the right
to  specific  performance and injunction in addition to any and all other rights
and  remedies  at  law  or  in equity, and all such rights and remedies shall be
cumulative.

     3.10     No  Rights to Continued Retension.  The award of Restricted Shares
              ---------------------------------
hereunder shall not be construed as giving the Employee the right to a continued
service  relationship  with  the  Company.

                                    SECTION 4
                                   DEFINITIONS

     As  used  in  this  Agreement,  the capitalized words and phrases set forth
below  shall  have  the  meanings  thereafter  ascribed:

     4.1     "Bank"  means Neighbors Bank, a proposed state bank being organized
              ----
under  the  laws  of  the  State  of  Georgia.

     4.2     "Board  of  Directors" means the board of directors of the Company.
              --------------------

     4.3     "Change  in  Control"  means  any  one  of  the  following  events:
              -------------------

          (a)     the  acquisition  by  any  person  or  persons  acting in
     concert  of the then outstanding voting securities of either the Company or
     the  Bank  if,  after the transaction, the acquiring person or persons owns
     controls  or  holds  the  power  to vote fifty percent (50%) or more of any
     class  of  voting  securities  of  the  Company  or  the  Bank;

          (b)     within  any  twelve-month  period  (beginning  on or after the
     Effective  Date),  the  persons who were directors of either the Company or
     the  Bank immediately before the beginning of such twelve-month period (the
     "Incumbent  Directors")  shall  cease  to constitute at least a majority of
     such  Board of Directors; provided that any director who was not a director
     as  of  the  beginning of such twelve-month period shall be deemed to be an
     Incumbent Director if that director were elected to such Board of Directors
     by,  or  on  the  recommendation  of  or  with  the  approval  of, at least
     two-thirds  of the directors who then qualified as Incumbent Directors; and
     provided  further that no director whose initial assumption of office is in
     connection  with  an  actual or threatened election contest relating to the
     election  of  directors  shall  be  deemed  to  be  an  Incumbent Director;

                                        8
<PAGE>
          (c)     a  reorganization,  merger  or  consolidation, with respect to
     which  persons  who were the stockholders of either the Company or the Bank
     immediately  prior  to such reorganization, merger or consolidation do not,
     immediately  thereafter,  own more than fifty percent (50%) of the combined
     voting  power  entitled  to  vote  in  the  election  of  directors  of the
     reorganized,  merged  or  consolidated  company's  then  outstanding voting
     securities;  or

          (d)     the  sale,  transfer or assignment of all or substantially all
     of  the  assets  of  the  Company  or  the  Bank  to  any  third  party.

     4.4     "Code" means the Internal Revenue Code of 1986, as amended, and the
              ----
rules  and  regulations  promulgated  thereunder.

     4.5     "Disability"  shall  mean  the inability of the Employee to perform
              ----------
the  material  duties  of his employment with the Company or, if applicable, any
affiliate  of  the  Company,  for  a  period  of three (3) consecutive months as
certified  by a physician chosen by the Company and reasonably acceptable to the
Employee.

     4.6     "Disposition"  means  any  conveyance,  sale, transfer, assignment,
              -----------
pledge  or  hypothecation,  whether  outright  or  as  security,  inter vivos or
testamentary,  with  or  without  consideration,  voluntary  or  involuntary.

     4.7     "Fair  Market  Value"  with  regard  to  a  date  means:
              -------------------

          (a)     the  price  at  which the Common Stock shall have been sold on
     that  date  or  the last trading date prior to that date as reported by the
     national  securities  exchange  selected by the Board of Directors on which
     the  shares  of Common Stock are then actively traded or, if applicable, as
     reported  by the National Association of Securities Dealers, Inc. Automated
     Quotation  System  (NASDAQ);

          (b)     if  such  market  information  is  not  published on a regular
     basis, the price of the Common Stock in the over-the-counter market on that
     date  or  the  last business day prior to that date as reported by (NASDAQ)
     or,  if  not  so  reported,  by  a generally accepted reporting service; or

          (c)     if  the  Common Stock is not publicly traded, as determined in
     good  faith by the Board of Directors with due consideration being given to
     (i) the most recent independent appraisal of the Company, if such appraisal
     is  not more than twelve months old and (ii) the valuation methodology used
     in  any  such  appraisal.

     For  purposes  of Paragraphs (a), (b), or (c) above, the Board of Directors
may use the closing price as of the applicable date, the average of the high and
low  prices  as  of  the  applicable date or for a period certain ending on such
date,  the price determined at the time the transaction

                                        9
<PAGE>
is  processed,  the  tender offer price for shares of Common Stock, or any other
method  which  the Board of Directors determines is reasonably indicative of the
fair  market  value.

     4.8     "Termination  of  Employment"  means  the  termination  of  the
              ---------------------------
employee-employer  relationship  between  the  Employee  and the Company and its
affiliates,  regardless  of the fact that severance or similar payments are made
to  the  Employee  for  any  reason,  including, but not by way of limitation, a
termination  by  resignation,  discharge,  death, Disability or retirement.  The
Board  of  Directors  shall, in its absolute discretion, determine the effect of
all  matters  and  questions relating to a Termination of Employment, including,
but  not  by  way  of  limitation,  the  question  of whether a leave of absence
constitutes  a  Termination  of  Employment.

                                       10
<PAGE>
     IN  WITNESS WHEREOF, the parties have executed and sealed this Agreement on
the  day  and  year  first  set  forth  above.

                                     NEIGHBORS  BANCSHARES,  INC.

                                     By: _______________________________________

                                     Title: ____________________________________
ATTEST:

____________________________

Title: _____________________

         [CORPORATE SEAL]

                                     EMPLOYEE

                                     _____________________________________(SEAL)

                                       11
<PAGE>
                                    EXHIBIT A
                                    ---------

                         NOTICE OF WITHHOLDING ELECTION
                           NEIGHBORS BANCSHARES, INC.
                           RESTRICTED STOCK AGREEMENT

TO:          Neighbors  Bancshares,  Inc.

FROM:

RE:          Withholding  Election

     This election relates to the restricted stock award identified in Paragraph
3  below.  I  hereby  certify  that:

     (1)     My  correct  name and social security number and my current address
are  set  forth  at  the  end  of  this  document.

     (2)     I  am  (check  one,  whichever  is  applicable).

          [ ]  the original recipient of the restricted stock award.

          [ ]  the legal representative of the estate of the original recipient
               of the restricted stock award.

          [ ]  a legatee of the original recipient of the restricted stock
               award.

          [ ]  the legal guardian of the original recipient of the restricted
               stock award.

     (3)     The  restricted stock award pursuant to which this election relates
is  dated as of ___________, 2002 (the "Restricted Stock Agreement") in the name
of_________________  for  a  total  of  __________ shares of Common Stock.  This
election  relates  to ______ shares of Common Stock issuable upon the vesting of
the Restricted Shares, provided that the numbers set forth above shall be deemed
changed  as  appropriate  to  reflect  stock  splits  and  other  adjustments
contemplated  in  Section  3.1  of  the  Restricted  Stock  Agreement.

     (4)     I  hereby  elect  to  have  certain  of  the shares withheld by the
Company  for  the  purpose  of  having  the  value  of the shares applied to pay
federal,  state  and  local,  if  any,  taxes  arising  from  the  exercise.

          The  fair  market  value  of  the shares to be withheld in addition to
$_________  in  cash  to  be  tendered  to  the  Company by the recipient of the
restricted  stock  award shall be equal to the minimum statutory tax withholding
requirement  under federal, state and local law in connection with the exercise.

                             Exhibit A - Page 1 of 2
<PAGE>
     (5)     This Withholding Election is made no later than the Tax Date and is
otherwise timely made pursuant to Section 1.3 of the Restricted Stock Agreement.

     (6)     I  understand  that  this  Withholding Election may not be revised,
amended  or  revoked  by  me  but  is subject to the disapproval of the Board of
Directors.

     (7)     I  further  understand  that,  if  this Withholding Election is not
disapproved  by  the  Board  of  Directors,  the Company shall withhold from the
Vested  Shares  a  whole  number  of  shares  of  Common  Stock having the value
determined  in  accordance  with  Paragraph  4  above.

     (8)     Capitalized  terms  used  in  this  Notice  of Withholding Election
without definition shall have the meanings given to them in the Restricted Stock
Agreement.

Dated:________________________________

Signature: ___________________________

______________________________________
Name  (Printed)

______________________________________
Street  Address

______________________________________
City,  State,  Zip  Code

                             Exhibit A - Page 2 of 2
<PAGE>
                                    EXHIBIT B
                                    ---------

                             IRREVOCABLE STOCK POWER

     FOR  VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to
Neighbors Bancshares, Inc., a Georgia corporation (the "Company"), ___ shares of
the  Common  Stock, $.50 par value, of the Company registered in the name of the
undersigned  on  the  stock  transfer  records of the Company and represented by
Stock  Certificate  No. ____________________ of the Company; and the undersigned
does  hereby  irrevocably  constitute and appoint__________________________, his
attorney-in-fact,  to transfer the aforesaid shares on the books of the Company,
with  full  power  of  substitution;  and the undersigned does hereby ratify and
confirm  all  that  said  attorney-in-fact  lawfully  shall do by virtue hereof.

Date:________________________            _______________________________________
                                               [NAME]

IN  THE  PRESENCE  OF:

_____________________________
     (Print  Name)

_____________________________
     (Signature)

                             Exhibit B - Page 1 of 1
<PAGE>

                                   SCHEDULE I
                          TO NEIGHBORS BANCSHARES, INC.
                             RESTRICTED STOCK AWARD

Vesting  Schedule
-----------------

A.     The  Restricted  Shares  shall  become  Vested  Shares  upon  the  Bank's
attainment  of  the  following  performance  goals  as indicated in the schedule
below.

                      [PERFORMANCE GOALS TO BE DETERMINED]

B.     Notwithstanding  Part  A,  in  the  event  of  a  Change  in Control, the
Restricted  Shares  will be fully vested as of a date determined by the Board of
Directors  which is no less than thirty (30) days prior to the effective date of
a  Change  in  Control  if the Employee is employed by the Company or any of its
affiliates on the effective date of a Change in Control; provided, however, that
the accelerated vesting contemplated by this provision shall not be given effect
on  account  of  any Change in Control which becomes effective prior to the date
which  is  three  years  following  the  date  the  Bank  opens  for  business

C.     For purposes of the Vesting Schedule, the Employee shall continue to vest
in  the  Restricted  Shares during such period as the Employee continues, at all
times,  as an employee of the Company or any of its affiliates.  At such time as
the  Employee  is no longer an employee of the Company or any of its affiliates,
the  Employee  will  cease  to continue vesting in the Restricted Shares and any
remaining  Restricted  Shares  which  are  not Vested Shares shall be forfeited.

D.     In  the  event  the  performance goals set forth in Part A above have not
been satisfied by the tenth anniversary of the Award Date, the Restricted Shares
which are not Vested Shares shall not become vested and shall be forfeited as of
such  date.

                            Schedule 1 - Page 1 of 1
<PAGE>

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