~~U.S.~~UNITED STATES SECURITIES AND EXCHANGE COMMISSION ~~Washington, D.C. 20549~~

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

~~Pursuant~~PURSUANT toTO ~~Section~~ SECTION 13 orOR 15(d) ofOF ~~the~~THE SECURITIES ~~Securities~~EXCHANGE ~~Exchange~~ACT ~~Act~~OF of 1934

Date of Report (Date of earliest event reported): ~~October~~February 2223, ~~2004~~2005

~~Commission~~TARPON ~~file~~COAST ~~number~~BANCORP, ~~0-23619~~INC.

~~Tarpon Coast Bancorp, Inc.~~ (Exact name of ~~small~~registrant ~~business issuer~~ as specified in its charter)

Florida (State or other jurisdiction of incorporation or organization) 65-0772718 (I.R.S. Employer Identification No.)


Florida	NOT APPLICABLE	65-0772718

(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification No.)

1490 Tamiami Trail Port Charlotte, FL 33948-1004 (Address of principal executive offices)


1490 Tamiami Trail Port Charlotte, FL		33948-1004

(Address of principal executive offices)		(Zip Code)

~~941-629-8111 (~~Registrant’s telephone number), including area code: 941-629-8111

NOT APPLICABLE

(Former name of 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 (see General Instruction A.2. below):


o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 122.02. Results of Operations and Financial Condition. Signatures

Item 2.02. Results of Operations and Financial Condition.

Tarpon Coast Bancorp, Inc. Reports ~~Third Quarter~~ 2004 Operating Results

PORT CHARLOTTE, Fla., ~~October~~February 2223 /PRNewswire/ — Tarpon Coast Bancorp, Inc. (OTC Bulletin Board: TCBA) today announced its annual operating results ~~for the third quarter of 2004~~. For the ~~three-month~~years ~~period~~ended ~~ending September~~December 3031, 2004, ~~the~~and 2003, ~~Company~~pre-tax ~~reported net~~ income ofwas $~~129~~1,046,000 orand $~~.11 per share compared with $269~~749,000, respectively, or ~~$.23~~an ~~per~~increase ~~share~~of ~~for the same period in 2003~~40%. ~~While~~However, net ~~income~~ ~~between~~income for the ~~corresponding~~comparable ~~fiscal~~periods ~~quarters~~ decreased, ~~income~~disproportionately ~~before income taxes increased~~ from $~~204~~1,172,000 in 2003 to $~~214~~651,000 in 2004. Net income for ~~the third quarter of~~ 2003 was favorably and disproportionately impacted by the recognition of $65423,000 in previously unrecognized net operating loss carry-forward deferred tax benefits, while results for 2004 include a provision for income taxes consistent with that determined by the application of statutory income tax rates on pre-tax income. ~~For the nine month periods ending September 30, 2004 and 2003, pre~~Pre-tax income ~~was $728,000 and $437,000, respectively, or and increase of 67%. However, net income for the comparable nine month periods decreased disproportionately from $702,000~~ in ~~2003 to $439,000 in~~ 2004, ~~once~~was ~~again because of the recognition of previously unrecognized deferred tax benefits of $265,000 in 2003. Per-tax income for the three and nine-month periods ending September 30, 2004 were~~ also ~~negatively~~ negatively impacted by the charge-off of an overdraft for $~~125~~150,000 from a customer that fell ~~pray~~ victim to a foreign counterfeit check scheme. The Company is pursuing all remedies available to attempt to effect recovery.

Net interest margins for the ~~current~~comparable ~~quarter~~years improved from 4.2444% in 2003 to 4.8468% in 2004. This improvement in net interest margins contributed $~~182~~289,000 to net interest income for 2004 over that reported for 2003. Average earning assets between the comparable ~~three-month~~years ~~periods~~ increased ~~by 14~~17% contributing ~~another~~ another $~~157~~777,000 to net interest income over reported 2003 levels. ~~For the comparable~~ ~~nine month periods ending September 30, 2004 and 2003, net interest margins~~ ~~were 4.81% and 4.39%, respectively, improving earnings by $355,000, while~~ ~~volume increases of 16% contributed $502,000.~~

The 2004 hurricane season provided the Company a challenge as Hurricane Charley, a category 4 storm, made a direct hit on ~~our~~the Company’s primary market area and Hurricanes Frances and Jeanne further impacted the communities weit ~~serve~~serves. While the Company’s facilities experienced no appreciable damage, the conduct of business in the Company’s primary market area was substantially curtailed in the aftermath of the hurricanes as power and communication links were down and ~~the~~ the focus of the community moved from one of development and economic expansion to repair and reconstruction. Accordingly, results for the ~~third~~second ~~quarter~~half of 2004, including a softening in loan demand, but more particularly, the generation of fee and commission income, were negatively impacted. Management believes these conditions to be near-term issues and expects demand for these products to rebound by early in 2005 as the redevelopment process takes hold.

The storms also had the effect of deferring ~~our~~the Company’s ability to open ~~our~~its temporary ~~modular~~ modular banking facility in Punta Gorda that was planned for September, but ~~will~~ ~~now~~finally ~~open~~opened in November of this year.

A financial table follows:

	(Dollars in Thousands, Except Per Share Amounts)
	Third Quarter					Year to Date
	2004			2003		2004			2003
Balance Sheet Data:
Total Assets		—			—	$	138,950		$	123,142
Total Customer Deposits		—			—	$	128,234		$	113,475
Gross Loans		—			—	$	101,064		$	83,486
Operating Statement Data:
Net Interest Income	$	1,461		$	1,123	$	4,087		$	3,230
Provision for Loan Losses	$	33		$	22	$	97		$	191
Non-interest Income	$	278		$	418	$	959		$	1,346
Non-interest Expenses	$	1,492		$	1,315	$	4,221		$	3,948
Pre-tax Income	$	214		$	204	$	728		$	437
Income (Taxes) Benefit		($85	)	$	65		($289	)	$	265
Net Income	$	129		$	269	$	439		$	702
Basic Income Per Share	$	.11		$	.23	$	.37		$	.59
Diluted Income Per Share	$	.11		$	.22	$	.36		$	.59
Number of banking offices		—			—		3			3


	Year Ended December 31,
	(Dollars in Thousands,
	Except Per Share Amounts)
	2004			2003
Balance Sheet Data:
Total Assets	$	145,633		$	122,557
Total Customer Deposits	$	134,691		$	112,576
Gross Loans	$	104,157		$	83,708
Operating Statement Data:
Net Interest Income	$	5,535		$	4,443
Provision for Loan Losses	$	130		$	213
Non-interest Income	$	1,331		$	1,748
Non-interest Expenses	$	5,690		$	5,229
Pre-tax Income	$	1,046		$	749
Income (Taxes) Benefit		($395	)	$	423
Net Income	$	651		$	1,172
Basic Income Per Share	$	.55		$	.99
Diluted Earnings Per Share	$	.53		$	.97
Number of full-service banking centers		4			3

Except for historical information contained herein, this news release contains comments or information that constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involves significant risks and uncertainties. Actual results may differ materially from the results discussed in the forward-looking statements.

Signatures

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.

Tarpon Coast Bancorp, Inc. Date: October 22, 2004 /s/ Lewis S. Albert Lewis S. Albert Chief Executive Officer


		Tarpon Coast Bancorp, Inc.

Date: February 23, 2005		/s/ Lewis S. Albert

		Lewis S. Albert Chief Executive Officer

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