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): October 22, 2007


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


       North Carolina                  000-22787                56-2028446
(State or other jurisdiction      (Commission File            (I.R.S. Employer
      of 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 October 22, 2007, Four Oaks Fincorp, Inc. (OTC BB: FOFN) issued a press
release announcing reported financial results for the third quarter ended
September 30, 2007. 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, including the press release attached as Exhibit
99.1, 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,
including the press release attached as Exhibit 99.1, 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 October 22, 2007



                                    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.
                                                         Chairman, President and
                                                         Chief Executive Officer
Date: October 22, 2007



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


     Exhibit No.        Description
     -----------        -----------
     99.1               Press Release issued on October 22, 2007

EX-99.1

                                                                    Exhibit 99.1

          Four Oaks Fincorp, Inc. Announces 2007 Third Quarter Results

     FOUR OAKS, N.C.--(BUSINESS WIRE)--Oct. 22, 2007--Four Oaks Fincorp, Inc.
(OTCBB:FOFN), the holding company for Four Oaks Bank & Trust Company, today
announced results for the third quarter of fiscal 2007. The third quarter of
2007 net income represents the highest quarterly net income achieved since the
third quarter of 2006. Net income was $1.8 million and $4.3 million, or $0.29
and $0.70 per basic share, for the quarter and nine months ended September 30,
2007, compared to $2.1 million and $5.5 million, or $0.35 and $0.90 per basic
share, for the quarter and nine months ended September 30, 2006. Compared to the
same respective periods of 2006, net income decreased 15.5% and 21.9% for the
quarter and nine months ended September 30, 2007, respectively. Fiscal 2007
earnings have declined from fiscal 2006 primarily due to lower margins, declines
in noninterest income, and increased operating costs related to expansion.

     For the twelve months ended September 30, 2007, return on average equity
and return on average assets were 11.46% and 0.92%, respectively, compared to
15.56% and 1.28%, respectively, for the twelve months ended September 30, 2006.
We increased the level of dividends paid to our shareholders from the $0.058 per
share that was paid in the third quarter of 2006 to $0.07 per share paid in the
third quarter of fiscal year 2007, an increase of 25%. All per share figures are
adjusted for the effect of the 10% stock dividend which will be paid on November
9, 2007, to shareholders of record on October 30, 2007.

     Net interest margin year-to-date annualized as of September 30, 2007 of
3.86% fell 55 basis points compared to 4.41% as of September 30, 2006. The third
quarter net interest margin annualized for 2007 of 3.89% compared to 4.26% in
2006, fell only 37 basis points, which is the smallest quarter to quarter
variance achieved in 2007. Growth in average earning assets of 18.1% over the
past year produced a 16.7% and 18.9% increase in total interest income for the
quarter and nine months ended September 30, 2007 as compared to the same
respective periods of 2006. The cost of funding our assets grew 60 basis points
as our year-to-date annualized cost of paying liabilities went from 3.97% as of
September 30, 2006 to 4.57% as of September 30, 2007. Interest expense increased
29.3% and 39.9% for the quarter and nine months ended September 30, 2007,
respectively, as compared to the same respective periods of 2006. Our net
interest income after the provision for loan losses for the third quarter and
nine months ended September 30, 2007 increased 7.8% and 3.0%, respectively,
compared to the same periods of 2006. Salaries and benefits expenses for the
quarter and nine months ended September 30, 2007 were 18.4% and 23.0% higher,
respectively, than for the same respective periods of 2006 due to new hires for
our offices that opened during 2006, administrative positions filled due to our
growth, and normal increases in wages and benefits costs. Other operating
expenses increased 10.2% and 17.5%, respectively, for third quarter and nine
months ended September 30, 2007 as compared to the same periods of 2006.
Professional fees increased 12.3% from $747,340 at September 30, 2006, to
$839,548 at September 30, 2007, primarily related to ongoing compliance with
Section 404 of the Sarbanes-Oxley Act of 2002.

     Our balance sheet growth continued in the third quarter of 2007. Quarterly
average earning assets of $630.6 million in the third quarter of 2007 grew 16.8%
from $539.9 million in the third quarter of 2006. Net loans of $500.8 million at
September 30, 2007 increased 13.9% and 9.8%, respectively, compared to $439.8
million at September 30, 2006, and $456.2 million at December 31, 2006. Total
deposits of $514.3 million at September 30, 2007 increased 9.7% and 10.2%,
respectively, from $468.8 million at September 30, 2006, and $466.9 million at
December 31, 2006. Shareholders' equity was $53.8 million at September 30, 2007,
an increase of 13.7% and 9.1%, respectively, over September 30, 2006 and
December 31, 2006. Book value per share at September 30, 2007 was $8.70 as
compared to $7.76 at September 30, 2006 and $8.04 at December 31, 2006.
Shareholders' equity as a percentage of total assets was 7.88% at September 30,
2007 as compared to 7.91% at September 30, 2006 and 8.11% at December 31, 2006.

     With $683.1 million in total assets as of September 30, 2007, the Company,
through its wholly owned subsidiary, Four Oaks Bank & Trust Company, offers a
broad range of financial services through its thirteen offices in Four Oaks,
Clayton, Smithfield, Garner, Benson, Fuquay-Varina, Wallace, Holly Springs,
Harrells, Sanford, and Zebulon, North Carolina. The loan production office in
Dunn, North Carolina, is expected to open in October, 2007. Four Oaks Fincorp,
Inc. trades through its market makers under the symbol of FOFN.

     Information in this press release contains forward-looking statements.
These statements involve risks and uncertainties that could cause actual results
to differ materially, including without limitation , the effects of future
economic conditions, governmental fiscal and monetary policies, legislative and
regulatory changes, the risks of changes in interest rates, and the effects of
competition. Additional factors that could cause actual results to differ
materially are discussed in the Company's filings with the Securities and
Exchange Commission, including without limitation its Annual Report on Form
10-K, its Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.
The Company does not undertake a duty to update any forward-looking statements
in this press release.


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