UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~WASHINGTON~~Washington, DC 20549

FORM 8-K

CURRENT REPORT ~~PURSUANT~~

TOPursuant ~~SECTION~~to Section 13 ORor 15(Dd) OFof ~~THE~~The

~~SECURITIES~~Securities ~~EXCHANGE~~Exchange ~~ACT~~Act OFof 1934

Date of report (Date of earliest event reported): December 4 31, 2009

~~Buckhead~~BUCKHEAD ~~Community~~COMMUNITY ~~Bancorp~~BANCORP, ~~Inc~~INC.

(Exact ~~Name~~name of ~~Registrant~~registrant as ~~Specified~~specified in ~~Its~~its ~~Charter~~charter)

Georgia

Georgia

000-53197

58-2265980

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

(State or Other Jurisdiction of Incorporation)

000-53197		58-2265980
(Commission File Number)		(IRS Employer Identification No.)

415 East Paces Ferry Road, Atlanta, Georgia 30305

(Address of ~~Principal~~principal ~~Executive~~executive ~~Offices~~offices)~~(Zip~~ ~~Code)~~

(404) 504-2557

(Registrant’s ~~Telephone~~telephone ~~Number~~number, including ~~Including~~area ~~Area Code~~code)

Not Applicable

(Former ~~Name~~name or ~~Former Address~~address, if ~~Changed~~changed ~~Since~~since ~~Last~~last ~~Report~~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)~~:

¨	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 1.03. Bankruptcy or Receivership

On December 431, 2009, ~~the Georgia Department of Banking and Finance (the “Georgia Department”) closed The~~ Buckhead Community ~~Bank (the “Bank”), the wholly owned commercial banking subsidiary of Buckhead Community~~ Bancorp, Inc. ~~(the “Company”)~~, ~~and~~a ~~the~~Georgia ~~Federal~~corporation ~~Deposit Insurance Corporation~~ (~~“FDIC”) was named as~~ the ~~receiver of the Bank. The~~ “Company~~’s principal asset is the common stock that it owns in the Bank~~”), ~~and,~~filed as a ~~result~~voluntary ofpetition ~~the closure~~for ofrelief ~~the~~pursuant ~~Bank,~~to ~~the~~Chapter 7 ~~Company has very limited remaining tangible assets. As the owner~~ of ~~all~~Title 11 of the ~~capital~~United ~~stock~~States ofCode ~~the~~in ~~Bank,~~ the ~~Company~~United ~~would~~States Bankruptcy beCourt ~~entitled~~for to the ~~net~~Northern ~~recoveries,~~District ~~if any, following the liquidation or sale~~ of ~~the Bank or its assets by the FDIC. However~~Georgia, atBankruptcy ~~this~~Case ~~time, the Company is unable to provide any assurance that any recovery will be realized by the Company or the timing of any such recovery~~No. 09-94427.

InThe ~~connection~~bankruptcy ~~with~~trustee ~~the~~is ~~closure~~William J. Layng, Jr., of ~~the~~Pendergast ~~Bank~~and Jones, ~~the~~PC, ~~FDIC~~South ~~issued~~Terraces, aSuite ~~press~~1000, ~~release~~115 Perimeter Center Place, ~~dated~~Atlanta, Georgia 30346. The trustee was appointed on December 431, 2009, ~~announcing~~and will be responsible for the ~~following:~~wind-up of the Company’s business.

• The FDIC entered into a purchase and assumption agreement with State Bank and Trust Company (“State Bank”) of Macon, Georgia, pursuant to which State Bank assumed the deposits of the Bank. Accordingly, depositors of the Bank, including those with deposits in excess of the FDIC’s insurance limits, will automatically become depositors of State Bank for the full amount of their deposits, and they will continue to have uninterrupted access to their deposits. Depositors will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance.

• The Bank’s seven offices will reopen on Monday, December 7, 2009, as branches of State Bank. However, for a period of time, customers of both banks should continue to use their existing locations until State Bank can fully integrate the deposit records of the Bank.

• State Bank purchased essentially all of the Bank’s assets, which totalled approximately $874.0 million as of November 6, 2009, and entered into a loss-share transaction with the FDIC with respect to approximately $692 million of the Bank’s assets.

• Customers who have questions about the foregoing matters, or who would like more information about the closure of the Bank, can visit the FDIC’s web site located at http://www.fdic.gov/bank/individual/failed/buckheadcommunity.html, or call the FDIC toll-free at (800) 823-3215.

A complete copy of the FDIC’s press release can be found on the Internet at http://www.fdic.gov/news/news/press/2009/pr09219.html. To date, except as described above, no other entity or newly chartered bank has been involved in the process of closing and unwinding the Bank. The management teams of the Company and the Bank have been working closely with the Georgia Department, the FDIC and State Bank to make the transition as smooth as possible for the Bank’s customers.

In connection with the receivership of the Bank, both the Company and the Bank expect to receive notices, from substantially all of the counterparties (including, without limitation, lenders) to the Company’s and/or Bank’s material agreements, of alleged events of default under those agreements, and of those counterparties’ intentions to terminate those agreements or accelerate the Company’s and/or the Bank’s performance of those agreements. The Company and/or the Bank may dispute certain of those notices. However, in the event of a default by the Company and/or Bank under one or more of those material agreements, or in the event of the termination of one or more of the material agreements, the Company’s and/or Bank’s financial and other obligations under such agreements may be accelerated. The Company and/or Bank may be subject to penalties under those agreements and also may suffer cross-default claims from counterparties under the Company’s and/or Bank’s other agreements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant has duly caused this ~~report~~Report to be signed on its behalf by the undersigned ~~thereunto~~hereunto duly authorized.

	~~BUCKHEAD COMMUNITY BANCORP, INC.~~	BUCKHEAD COMMUNITY BANCORP, INC.
Dated: December 8, 2009
Dated: February 22, 2010		By:	/s/ William J. Layng, Jr.
	By:	/S/ DAWN KINARD
		Name:	William J. Layng, Jr.
	Name:	Dawn Kinard
		Title:	As Chapter 7 Trustee for
	Title:	Chief Financial Officer
			Buckhead Community Bancorp, Inc.
			Case No. 09-94227.JEM
			Northern District of Georgia

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