SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

TAYLOR R EUGENE

(Last)

(First)

(Middle)

4725 PIEDMONT ROW DRIVE

(Street)

CHARLOTTE

28210

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/30/2010

3. Issuer Name and Ticker or Trading Symbol
TIB FINANCIAL CORP. [ TIBB ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	700,000,000	I⁽¹⁾	By North American Financial Holdings, Inc.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Warrants	09/30/2010	03/30/2012	Common Stock $.10 par value	1,166,666,667⁽²⁾⁽³⁾	$0.15	I⁽¹⁾	By North American Financial Holdings, Inc.
Series B Preferred Stock	09/30/2010	⁽²⁾	Common Stock $.10 par value	466,666,667⁽²⁾	$0⁽²⁾	I⁽¹⁾	By North American Financial Holdings, Inc.

Explanation of Responses:

1. The reporting person is Chief Executive Officer of North American Financial Holdings, Inc., a multi-bank holding company headquartered in Charlotte, North Carolina and Jacksonville, Florida. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

2. Each share of the Series B Preferred Stock will mandatorily convert to 6,666 shares of Common Stock (subject to certain anti-dilution adjustments and plus cash in lieu of fractional shares) following shareholder approval of an amendment to TIB Financial Corp.'s Articles of Incorporation to increase the number of authorized shares of Common Stock to permit the issuance of all of the Common Stock into which the Series B Preferred Stock is convertible. There is no expiration date associated with the Series B Preferred Stock.

3. On September 20, 2010, TIB Financial Corp. (the "Company") issued to North American Financial Holdings, Inc. a warrant (the "Warrant") to purchase up to 1,166,666,667 shares of Common Stock of the Company (the "Warrant Shares"). Until shareholder approval of an amendment to the Articles of Incorporaton to increase the number of authorized shares of Common Stock to permit the exercise of Warrant in full, the Warrant shall be exercisable for that number of shares of Series B Preferred Stock that would be convertible into the number of Warrant Shares subject to such exercise.

Remarks:

	/s/ Vicki L. Walker-Attorney In Fact for R Eugene Taylor	11/02/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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