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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 jmnRGxlXuIlUxgoLukVx0g==

<SEC-DOCUMENT>0001002105-05-000079.txt : 20050502
<SEC-HEADER>0001002105-05-000079.hdr.sgml : 20050502
<ACCEPTANCE-DATETIME>20050502174910
ACCESSION NUMBER:		0001002105-05-000079
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050420
FILED AS OF DATE:		20050502
DATE AS OF CHANGE:		20050502

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIDDLEBURG FINANCIAL CORP
		CENTRAL INDEX KEY:			0000914138
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				541696103
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		111 W WASHINGTON ST
		STREET 2:		C/O MIDDLEBURG BANK
		CITY:			MIDDLEBURG
		STATE:			VA
		ZIP:			22117
		BUSINESS PHONE:		5406876377

	MAIL ADDRESS:	
		STREET 1:		111 WEST WASHINGTON STREET
		STREET 2:		C/O MIDDLEBURG BANK
		CITY:			MIDDLEBURG
		STATE:			VA
		ZIP:			22117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDEPENDENT COMMUNITY BANKSHARES INC
		DATE OF NAME CHANGE:	19931027

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Chappell Kathleen J
		CENTRAL INDEX KEY:			0001325314

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24159
		FILM NUMBER:		05792178

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		540-687-6377

	MAIL ADDRESS:	
		STREET 1:		111 WEST WASHINGTON STREET
		CITY:			MIDDLEBURG
		STATE:			VA
		ZIP:			22117
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>f3kchappell_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2005-04-20</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000914138</issuerCik>
        <issuerName>MIDDLEBURG FINANCIAL CORP</issuerName>
        <issuerTradingSymbol>MBRG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001325314</rptOwnerCik>
            <rptOwnerName>Chappell Kathleen J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>111 WEST WASHINGTON STREET</rptOwnerStreet1>
            <rptOwnerStreet2>C/O MIDDLEBURG BANK</rptOwnerStreet2>
            <rptOwnerCity>MIDDLEBURG</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>22117</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Sr. Vice President and CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>97.843</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21.822</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By son</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>12.25</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>1999-10-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2009-09-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>150</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>37.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-10-15</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-10-14</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Of these shares, 69.843 shares were automatic purchases under the Issuer's Dividend Reinvestment and Stock Purchase Plan.</footnote>
        <footnote id="F2">Of these shares, 1.822 shares were automatic purchases under the Issuer's Dividend Reinvestment and Stock Purchase Plan..</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Kathleen J. Chappell</signatureName>
        <signatureDate>2005-05-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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