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: October 27, 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 October 27, 2003, Four Oaks Fincorp, Inc. (OTC BB: FOFN) reported financial
results for the three and nine months ended September 30, 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:  October 27, 2003

EX-99

                                                                      Exhibit 99

     Four Oaks Fincorp, Inc. Announces 2003 Third Quarter Results

    FOUR OAKS, N.C.--(BUSINESS WIRE)--Oct. 27, 2003--Four Oaks
Fincorp, Inc.(OTC BB: FOFN), holding company for Four Oaks Bank &
Trust Company, today announced net income for the third quarter and
nine months ended September 30, 2003 of $762,000 and $2.0 million,
respectively, an increase of 5% from the earnings level for the third
quarter of 2002 and a 14% decrease from the earnings level of the
first nine months of 2002. The decrease in net income is the result of
declining net interest margins, increasing operating costs related to
new facilities and staff, and increased additions to the provision for
loan losses. The increase in the third quarter net income for 2003
over 2002 is primarily due to new pricing strategies and income
producing initiatives implemented during 2003. Net income per share
for the third quarter and first nine months of 2003 was $0.28 and
$0.74, respectively, compared to $0.27 and $0.88, respectively in
2002. Dividends paid in September 2003 were $0.09 per common share
compared to $0.08 per share paid in September 2002. 2003 year to date
dividends per share of $0.26 increased 10% over the level for 2002.
All per share amounts have been adjusted to reflect the 25% stock
split approved on October 20, 2003.
    Total deposits grew 4% and net loans grew 14% from December 31,
2002 to September 30, 2003. Shareholders' equity grew to $32.2 million
for a 3% increase over December 31, 2002. Book value per share at
September 30, 2003 was $12.06 compared to $11.62 at December 31, 2002.
Shareholders' equity as a percentage of total assets remains high at
9.8%.
    With $328.7 million in total assets, Four Oaks Fincorp, Inc.
through its wholly owned subsidiary, Four Oaks Bank, offers a broad
range of financial services through its ten offices in Four Oaks,
Clayton, Smithfield, Garner, Benson, Fuquay-Varina, Wallace, and Holly
Springs, North Carolina.


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