First Security (FSGI) 8-K/A Financial Statements and Exhibits

Pro Forma Statement of Income for the Period Ended December 31, 2003								Exhibit 99.5
(in thousands, except per share data)
	First Security Group Consolidated		Kenesaw Leasing & J&S Leasing		Adjustments			Pro Forma
INTEREST INCOME
Loans, including fees	$	28,690	$	8,175	$	-		$	36,865
Debt securities - taxable		1,904		-		-			1,904
Debt securities - nontaxable		522		-		-			522
Other		438		-		-			438
Total interest income		31,554		8,175		-			39,729
INTEREST EXPENSE
Interest bearing demand deposits		121		-		-			121
Savings and money market deposits		1,305		-		-			1,305
Certificates of deposit of $100 thousand or more		2,748		-		-			2,748
Certificates of deposit of less than $100 thousand		4,136		-		-			4,136
Brokered certificates of deposit		114		-		-			114
Other		473		1,124		354	1		1,951
Total interest expense		8,897		1,124		354			10,375
NET INTEREST INCOME		22,657		7,051		(354	)		29,354
Provision for loan losses		2,122		694		-			2,816
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		20,535		6,357		(354	)		26,538
NONINTEREST INCOME
Service charges on deposit accounts		2,382		-		-			2,382
Other		2,912		251		-			3,163
Gain on sales of available-for-sale securities, net		24		-		-			24
Total noninterest income		5,318		251		-			5,569
NONINTEREST EXPENSE
Salaries and employee benefits		12,014		1,291		-			13,305
Expense on premises and fixed assets, net of rental income		4,701		-		-			4,701
Other noninterest expense		5,563		521		-			6,084
Total noninterest expense		22,278		1,812		-			24,090
INCOME BEFORE INCOMETAX PROVISION		3,575		4,796		(354	)		8,017
Income tax provision		1,119		1,823		(135	)2		2,807
INCOME BEFORE EXTRAORDINARY GAIN		2,456		2,973		(219	)		5,210
Extraordinary gain business combination, net of income tax		-		-		785	3		785
NET INCOME	$	2,456	$	2,973	$	566		$	5,995
NET INCOME PER SHARE 4
Net Income Per Share Before Extraordinary Item - Basic	$	0.20			$	(0.02	)	$	0.43
Extraordinary Item - Basic	$	-			$	0.06		$	0.06
Net Income Per Share - Basic	$	0.20			$	0.04		$	0.49
Net Income Per Share Before Extraordinary Item - Diluted	$	0.20			$	(0.02	)	$	0.43
Extraordinary Item - Diluted	$	-			$	0.06		$	0.06
Net Income Per Share - Diluted	$	0.20			$	0.04		$	0.49

¹ Estimate of the funding cost of the purchase price of $13.0 million. The proforma adjustment of $354 thousandrelated to the funding cost represents our estimate of the interest cost on a line of credit based on anaverage 90 day LIBOR rate plus 150 basis points, or 2.72%, which is similar to the funding arrangement between the leasing companies and the predecessor institution.

² Represents the tax benefit associated with the interest expense referred to in footnote 1, using a tax rate of38.0%.

³ Represents the extraordinary gain recognized by the Company in conjunction with the business combination. The recognition of this extraordinary gain is in accordance with the provisions of Statement of Financial Accounting Standard No. 141. The extraordinary gain is reflected net of income tax of $481 thousand based on a 38.0% tax rate.

⁴ Reflects the 12-for-10 stock split distributed on December 22, 2004, to shareholders of record on December 10,2004.