UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): November 24, 2009 FOUR OAKS FINCORP, INC. (Exact name of registrant as specified in its charter) North Carolina 000-22787 56-2028446 (State or other jurisdiction (Commission File (I.R.S. Employer of incorporation) Number) Identification Number) 6114 U.S. 301 South Four Oaks, North Carolina 27524 (Address of principal executive offices) (Zip Code) (919) 963-2177 Registrant's telephone number, including area code N/A (Former name or 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: [ ] 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 1.01 Entry into a Material Definitive Agreement. On November 24, 2009, Four Oaks Fincorp, Inc. (the "Company"), its wholly-owned subsidiary, Four Oaks Bank & Trust Company (the "Bank"), and Nuestro Banco ("Nuestro") entered into an amendment (the "Second Amendment") to the definitive merger agreement, dated as of April 29, 2009 by and among the Company, the Bank, and Nuestro (the "Merger Agreement"), pursuant to which Nuestro will merge with and into the Bank. The Second Amendment amends Section 9.1(c) of the Merger Agreement in order to change the date upon which the Company and the Bank, on the one hand, or Nuestro, on the other hand, may terminate the Merger Agreement from November 30, 2009 to December 31, 2009. This description of the Second Amendment is qualified in its entirety by reference to the Second Amendment, which is attached hereto as Exhibit 2.1 and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description of Exhibit 2.1 Second Amendment to Merger Agreement, dated as of November 24, 2009, by and among Four Oaks Fincorp, Inc., Four Oaks Bank & Trust Company and Nuestro Banco 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. FOUR OAKS FINCORP, INC. By: /s/ Nancy S. Wise -------------------------------- Nancy S. Wise Executive Vice President, Chief Financial Officer Date: November 30, 2009 EXHIBIT INDEX Exhibit No. Description of Exhibit 2.1 Second Amendment to Merger Agreement, dated as of November 24, 2009, by and among Four Oaks Fincorp, Inc., Four Oaks Bank & Trust Company and Nuestro Banco