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 (Date of Earliest Event Reported): April 15, 2005



                             FOUR OAKS FINCORP, INC.
             (Exact name of registrant as specified in its charter)


       North Carolina                  000-22787               56-2028446
(State or other jurisdiction of     (Commission File        (I.R.S. Employer
        incorporation)                 Number)            Identification Number)



                6114 U.S. 301 South
             Four Oaks, North Carolina                    27524
     (Address of principal executive offices)          (Zip Code)



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

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

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act
    (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
    (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))







Item 2.02         Results of Operations and Financial Condition.

On April 15, 2005, Four Oaks Fincorp, Inc. (OTC BB: FOFN) issued a press release
announcing  reported  financial  results for the first  quarter  ended March 31,
2005. The full text of the press release is set forth in Exhibit 99.1 hereto and
is incorporated herein by reference.

Pursuant  to  General  Instruction  B.2 of  Current  Report  on  Form  8-K,  the
information in this Item 2.02 is furnished and shall not be deemed to be "filed"
for purposes of Section 18 of the  Securities  Exchange Act of 1934, as amended,
or  otherwise  subject  to the  liability  of  that  section.  Furthermore,  the
information  in this  Item  2.02  shall  not be  deemed  to be  incorporated  by
reference into the filings of the  registrant  under the Securities Act of 1933,
as amended.


Item 9.01         Financial Statements and Exhibits.

(c)    Exhibits.


         Exhibit No.       Description
         -----------       -----------
         99.1              Press Release issued on April 15, 2005







                                    SIGNATURE

         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.


                                           FOUR OAKS FINCORP, INC.


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



Date:  April 15, 2005






                                 EXHIBIT INDEX
                                 -------------


             Exhibit No.         Description
             -----------         -----------
             99.1                Press Release issued on April 15, 2005

EX-99.1

                                                                    Exhibit 99.1


Four Oaks Fincorp, Inc. Announces 2005 First Quarter Results

    FOUR OAKS, N.C.--(BUSINESS WIRE)--April 15, 2005--Four Oaks
Fincorp, Inc., (OTCBB:FOFN) the holding company for Four Oaks Bank &
Trust Company, today announced first quarter results for fiscal year
2005. Net income increased 47% in the first quarter of 2005 as
compared to the same period of 2004. Net income was $1,176,000 or
$0.34 per share for the quarter ended March 31, 2005, compared to
$799,000 or $0.24 per share for the quarter ended March 31, 2004. A
net one time charge to earnings of $158,000 was made during the first
quarter of 2004 to recognize an expected loss related to a
discontinued product. Annualized return on average equity and return
on average assets at March 31, 2005 increased to 12.32% and 1.15%,
respectively, compared to 9.42% and 0.91%, respectively, at March 31,
2004. The Company increased the level of dividends paid to its
shareholders from the $0.08 per share that was paid in the first
quarter of 2004 to $0.09 per share paid in the first quarter of 2005.
    Improved earnings trends continued in the first quarter of 2005,
when compared to the same period of 2004, as evidenced by a 34%
increase in net interest income after the provision for loan losses,
from $3,162,000 to $4,231,000. Operating expenses increased 15% in the
first quarter 2005 to $3,195,000, as compared to the same period of
2004, primarily due to increased salaries and benefits associated with
expansion of our locations. The Company believes pricing strategies
implemented during prior periods continue to enhance its ability to
compete effectively for loans and deposits in its local markets.
    The Company's balance sheet growth continued in the first quarter
of 2005. Total deposits of $340,703,000 at March 31, 2005, grew 8%
from December 31, 2004. Net loans increased 3% to $317,929,000.
Shareholders' equity grew to $37,993,000, resulting in a 2% increase
over December 31, 2004. Book value per share at March 31, 2005 was
$10.97 as compared to $10.85 at December 31, 2004. Shareholders'
equity as a percentage of total assets remained high at 8.9% as of
March 31, 2005.
    With $424,978,000 in total assets, the Company, through its wholly
owned subsidiary, Four Oaks Bank & Trust Company, offers a broad range
of financial services through its twelve offices in Four Oaks,
Clayton, Smithfield, Garner, Benson, Fuquay-Varina, Wallace, Holly
Springs, Harrells, and Sanford, North Carolina. The Harrells branch
office and the Sanford loan production office both opened on January
10, 2005.


    CONTACT: Four Oaks Fincorp, Inc.
             Ayden R. Lee, Jr., President and Chief Executive Officer
             Nancy S. Wise, Executive Vice President and Chief Financial Officer
             (919) 963-2177