8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 4, 2004

TIB FINANCIAL CORP.

  (Exact name of registrant as specified in its charter)

Florida	0000-21329	65-0655973
(State or other jurisdiction of incorporation)	(Commission file number)	(IRS employer identification number)

599 9th Street North, Suite 101, Naples, Florida 34102-5624

  (Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (239) 263-3344

Not Applicable

(Former name or former address, if changed since last report)

TABLE OF CONTENTS

Ex-99.1: Press Release dated November 4, 2004

ITEM 2.02    Results of Operations and Financial Condition

     On November 4, 2004, TIB Financial Corp. issued a press release announcing certain financial results and additional information. A copy of the press release is attached to this Form 8-K.

ITEM 9.01    Financial Statements, Pro Forma Financial Information and Exhibits

(a)	Financial Statements of Business Acquired: None
(b)	Pro Forma Financial Information: None
(c)	Exhibits

99.1 Press Release dated November 4, 2004

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TIB FINANCIAL CORP.

By:	/s/ Edward V. Lett
Edward V. Lett, President and Chief Executive Officer

Date: November 4, 2004

EX-99.1

Exhibit 99.1

TIB Financial Corp. reports third quarter results;
CITES STRONG QUARTERLY AND YEAR TO DATE REVENUE GROWTH

NAPLES, Fla., November 4, 2004 — TIB Financial Corp., (Nasdaq: TIBB) holding company for TIB Bank of the Keys, today reported net income of $1,337,000 for the quarter ended September 30, 2004, an increase of 15.0%, over $1,163,000 for the comparable period of last year. Net income amounted to $3,867,000 for the first nine months of 2004 up 6.3% compared to $3,638,000 for the same period last year.

Basic earnings per share for the third quarter was $0.24 compared to $0.26, and fully diluted earnings per share was $0.23 for the third quarter compared to $0.25 for the same period of 2003.

Basic weighted average common shares outstanding for the nine months ended September 30, 2004, were 5,187,456 compared to 4,204,840 for the comparable 2003 period. This 23.4% increase in shares outstanding resulted from the addition of 1,150,000 new shares issued in the second quarter of 2004 in connection with a public offering of TIBB common stock that raised $23.2 million in new capital, the issuance of 280,653 shares in June 2003 in connection with a private placement of TIBB stock that raised $4.3 million in new capital, and the exercise of stock options. Basic and diluted earnings per share for the first nine months of 2004 were $0.75 and $0.72, respectively, as compared to $0.87 and $0.83 per share in the previous year’s period.

“Despite numerous hurricane evacuations and the related business disruption in South Florida, TIB suffered no physical damage from the storms. In fact, total revenue increased 13.1% in the third quarter of 2004 over the third quarter of 2003,” said Edward V. Lett, President and CEO of TIB Financial Corp. “On a year to date basis, total revenue was $38,812,000 or 12.3% higher than the first nine months of 2003.”

“Considerable market disruption centering around the consolidation of major Southwest Florida competitors presents unprecedented opportunities for our bank. The acquisition of talented, experienced senior officers in revenue generating departments, customer shifts following consolidation and additional branch locations all represent good and unexpected opportunities for TIB to accelerate market share growth. The recent addition of four experienced lenders and a corporate service officer will better position TIB for future growth in our Southwest Florida markets,” according to Lett.

Comparing September 30, 2004 balances to September 30, 2003, total assets increased 18.5% to $765.7 million. Total loans grew 21.1% to $618.3 million and total deposits increased 17.6% to $638.3 million. At quarter end, stockholders’ equity was $67.5 million.

About TIBB

TIB Financial Corp. is a growth-oriented financial holding company with over $765 million in total assets, operating 16 branches in the Florida Keys, Homestead, Naples, Bonita Springs and Fort Myers.

TIB Financial Corp., through TIB Bank of the Keys, a wholly owned subsidiary, serves the personal and commercial banking needs of local residents and businesses in their market areas. The Bank’s experienced bankers are community leaders who focus on a relationship-based approach that is built around anticipating specific customer needs, providing sound advice and making timely local decisions. Visit http://www.tibbank.com for more information.

Except for historical information contained herein, this news release contains comments or information that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve significant risks and uncertainties. Actual results may differ materially from the results discussed in the forward-looking statements.

SUPPLEMENTAL FINANCIAL DATA FOLLOWS

TIB Financial Corp. and Subsidiaries
Unaudited
Consolidated Statements of Income

	For the Quarter Ended				For the Nine Months Ended
	September 30,				September 30,
(in thousands, except per share data)	2004		2003		2004		2003
Interest and dividend income	$	10,528	$	8,750	$	29,565	$	25,491
Interest expense		2,747		2,403		7,595		7,425
Net interest income		7,781		6,347		21,970		18,066
Provision for loan losses		471		447		1,489		1,035
Non-interest income:
Service charges on deposit accounts		619		632		1,900		1,790
Investment securities gains, net		7		3		103		8
Merchant bankcard processing income		1,221		1,213		4,515		3,812
Gain on sale of government guaranteed loans		—		—		—		87
Fees on mortgage loans sold		363		589		1,406		1,800
Retail investment services		89		112		290		299
Gain on sale of investment in ERAS Joint Venture		—		—		—		202
Other income		344		347		1,033		1,065
Total non-interest income		2,643		2,896		9,247		9,063
Non-interest expense:
Salaries & employee benefits		3,699		3,271		10,755		9,512
Net occupancy expense		1,212		1,088		3,525		3,197
Other expense		3,013		2,681		9,591		7,983
Total non-interest expense		7,924		7,040		23,871		20,692
Income before income tax expense		2,029		1,756		5,857		5,402
Income tax expense		692		615		1,990		1,890
Income from continuing operations		1,337		1,141		3,867		3,512
Discontinued operations – Keys Insurance Agency, Inc.		—		22		—		126
NET INCOME	$	1,337	$	1,163	$	3,867	$	3,638
BASIC EARNINGS PER SHARE:
Continuing operations	$	0.24	$	0.26	$	0.75	$	0.84
Discontinued operations		—		—		—		0.03
Basic earnings per share	$	0.24	$	0.26	$	0.75	$	0.87
DILUTED EARNINGS PER SHARE:
Continuing operations	$	0.23	$	0.25	$	0.72	$	0.80
Discontinued operations		—		—		—		0.03
Diluted earnings per share	$	0.23	$	0.25	$	0.72	$	0.83

5

Selected Financial Data (Dollars in thousands)

	Quarter Ended September 30,						Nine Months Ended September 30,
	2004			2003			2004			2003
Average loans outstanding	$	597,832		$	491,289		$	574,003		$	469,225
Average earning assets		687,034			569,620			659,620			552,240
Net loan charge-offs		188			147			616			453
Return on average equity		8.06	%		11.64	%		9.15	%		13.21	%
Net interest margin		4.58	%		4.49	%		4.50	%		4.40	%
Average diluted shares		5,806,733			4,581,559			5,356,286			4,376,413
End of period shares outstanding		5,672,202			4,408,078			5,672,202			4,408,078

	2004		2003
Non-performing loans as of September 30,	$	1,174	$	587