EXHIBIT 5.1 MALIZIA, SPIDI, SLOANE & FISCH, P.C. ATTORNEYS AT LAW 1301 K STREET, N.W. SUITE 700 EAST WASHINGTON, D.C. 20005 (202) 434-4660 FACSIMILE: (202) 434-4661 WRITER'S DIRECT DIAL NUMBER December 22, 1997 Board of Directors Quitman Bancorp, Inc. 100 West Screven Street Quitman, Georgia 31643 Re: Registration Statement Under the Securities Act of 1933 ------------------------------------------------------- Ladies and Gentlemen: This opinion is rendered in connection with the Registration Statement on Form SB-2 to be filed with the Securities and Exchange Commission under the Securities Act of 1933 relating to the offer and sale of up to 661,250 shares of common stock, par value $0.10 per share (the "Common Stock"), of Quitman Bancorp, Inc. (the "Company"), including shares to be issued to certain employee benefit plans of the Company and its subsidiary. The Common Stock is proposed to be issued pursuant to the Plan of Conversion (the "Plan") of Quitman Federal Savings Bank (the "Savings Bank") in connection with the Savings Bank's conversion from a mutual savings bank form of organization to a stock savings bank form of organization and reorganization into a wholly-owned subsidiary of the Company (the "Conversion"). As special counsel to the Savings Bank and the Company, we have reviewed the corporate proceedings relating to the Plan and the Conversion and such other legal matters as we have deemed appropriate for the purpose of rendering this opinion. Based on the foregoing, we are of the opinion that the shares of Common Stock of the Company covered by the aforesaid Registration Statement will, when issued in accordance with the terms of the Plan against full payment therefor, be validly issued, fully paid, and non-assessable shares of Common Stock of the Company. We assume no obligation to advise you of changes that may hereafter be brought to our attention. Board of Directors December 22, 1997 Page Two We hereby consent to the use of this opinion and to the reference to our firm appearing in the Company's Prospectus under the headings "The Conversion - Effects of Conversion to Stock Form on Depositors and Borrowers of Quitman Federal Savings Bank--Tax Effects" and "Legal and Tax Matters." We also consent to any references to our legal opinion referred to under the aforementioned headings in the Prospectus. Very truly yours, /s/Malizia, Spidi, Sloane & Fisch, P.C. MALIZIA, SPIDI, SLOANE & FISCH, P.C.