FORM 8-K

SECURITIES AND EXCHANGE COMMISSION

~~Washington~~WASHINGTON, D.C. 20549

____________

FORM 8-K

CURRENT REPORT

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

~~Date~~SECURITIES ofEXCHANGE ~~Report~~ACT ~~(Date~~OF ~~of earliest event reported): October 18, 2004~~1934

Flag Financial Corporation (Exact name of registrant as specified in its charter)

Date of report (Date of earliest event reported)	January 24, 2005

Flag Financial Corporation.
(Exact Name of Registrant as Specified in its Charter)

Georgia	000-24532	58-209417
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

3475 Piedmont Road
Atlanta, GA 30305
(Address of Principal Executive Offices)

Registrant’s telephone number, including area code	(404) 760-7700

N/A
(Former Name or Former Address, if Changed Since Last Report)

Georgia	000-24532	58-209417
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

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:

3475 Piedmont Road, Suite 550, Atlanta, Georgia	30305
(Address of principal executive offices)	(Zip Code)
Registrant’s telephone number, including area code:	(404) 760-7700

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

~~(Former~~o ~~name~~Soliciting ormaterial ~~former~~pursuant ~~address,~~to ifRule ~~changed~~14a-12 ~~since~~under ~~last~~the ~~report~~Exchange Act (17 CFR 240.14a-12)

~~Item~~o Pre-commencement communications pursuant to Rule 14d-2~~.02. Results~~(b) ofunder ~~Operation~~the ~~and~~Exchange ~~Financial~~Act ~~Condition~~(17 CFR 240.14d-2(b))

Ono ~~October~~Pre-commencement ~~18,~~communications ~~2004,~~pursuant ~~Flag~~to ~~Financial~~Rule ~~Corporation~~13e-4(c) ~~issued~~under ~~a press release reporting its third quarter 2004 results of operations. A copy of~~ the ~~press~~Exchange ~~release~~Act is(17 ~~attached~~CFR ~~as an exhibit to this report~~240.13e-4(c))

Item 92.~~01.~~02 ~~Financial~~Results ~~Statements~~of Operations and ~~Exhibits~~Financial Condition

On January 24, 2005, Flag Financial Corporation issued a press release reporting its fourth quarter 2004 results of operations. A copy of the press release is attached as an exhibit to this report.

Item 9.01

Financial Statements and Exhibits

(c)

Exhibits

No.

Description

99.1 Press Release dated ~~October~~January 1824, ~~2004~~2005.

The information furnished in the attached press release shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section.

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.

October 18, 2004	FLAG FINANCIAL CORPORATION
January 24, 2005	FLAG FINANCIAL CORPORATION
By:	/s/ J. Daniel Speight
	J. Daniel Speight
	Vice Chairman, Chief Financial Officer and Secretary

EXHIBIT INDEX

No.	~~Description~~	Description
99.1	~~Press Release dated October 18, 2004.~~	Press Release dated January 24, 2005.

Filing Compare · FLAG FINANCIAL CORP