8-K

                                  UNITED STATES
                       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: April 25, 2003

                             FOUR OAKS FINCORP, INC.

             (Exact name of registrant as specified in its charter)




    North Carolina                    000-22787                 56-2028446
(State of incorporation)         (Commission File No.)       (I.R.S. Employer
                                                          Identification Number)


                              6114 U.S. 301 SOUTH,
                         FOUR OAKS, NORTH CAROLINA 27524
                    (Address of principal executive offices)

                                 (919) 963-2177
              (Registrant's telephone number, including area code)

               This document contains 2 pages, excluding exhibits.





       Item 9. Disclosure of Results of Operations and Financial Condition

On April 25, 2003, Four Oaks Fincorp, Inc. (OTC BB: FOFN) reported financial
results for the three months ended March 31, 2003.

Item 7(c):  Exhibits

                                          Exhibit 99:   Press Release


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, Four Oaks
Fincorp, Inc. has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Four Oaks Fincorp, Inc.

By:   /s/  Ayden R. Lee, Jr.,
      -------------------------
       Ayden R. Lee, Jr.
       President and Chief Executive Officer


Date:  April 25, 2003

EX-99

                                                                Exhibit 99


     Four Oaks Fincorp, Inc. Announces 2003 First Quarter Results


    FOUR OAKS, N.C.--(BUSINESS WIRE)--April 25, 2003--Four Oaks
Fincorp, Inc.(OTCBB: FOFN), holding company for Four Oaks Bank & Trust
Company, today announced net income for the first quarter ended March
31, 2003 of $628,000 a decrease of 18% from the earnings level for the
first quarter of 2002.
    The decrease in net income is the result of declining net interest
margins and increasing operating costs related to new facilities and
staff. Net income per share for the first quarter of 2003 was $0.29
compared to $0.36 in 2002. Return on average equity and average assets
for the twelve months ending March 31, 2003 of 9.07% and .89%
decreased from 9.76% and .96% for the twelve months ending March 31,
2002. Dividends paid in March 2003 were $0.11 per common share
compared to $0.10 per share paid in March 2002.
    Total deposits grew 2% and net loans grew 3% from December 31,
2002 to March 31, 2003. Shareholders' equity grew to $31,941,000 for a
3% increase over December 31, 2002. Book value per share at March 31,
2003 was $14.84 compared to $14.52 at December 31, 2002. Shareholders'
equity as a percentage of total assets remains high at 9.9%.
    With $324,077,000 in total assets, Four Oaks Fincorp, Inc. through
its wholly owned subsidiary, Four Oaks Bank, offers a broad range of
financial services through its nine offices in Four Oaks, Clayton,
Smithfield, Garner, Benson, Fuquay-Varina, and Wallace, North
Carolina.


    CONTACT: Four Oaks Fincorp, Inc.
             Ayden R. Lee, Jr. or Nancy S. Wise, 919/963-2177