U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934
                                (Amendment No. 1)

                           Bancshares of Florida, Inc.
                ------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
                ------------------------------------------------
                         (Title of Class of Securities)

                                    05976U102
                ------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2005
           -----------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)




     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

        [X] Rule 13d-1(b)

        [ ] Rule 13d-1(c)

        [ ] Rule 13d-1(d)

     The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.

     The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that Section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).



CUSIP No. 05976U102
- --------------------------------------------------------------------------------

1)   Names of Reporting Persons
     I.R.S. Identification Nos. Of Above Persons (Entities Only)

         KEEFE MANAGERS, LLC    71-0885390
- --------------------------------------------------------------------------------
2)   Check The Appropriate Box If a Member of a Group (See Instructions)

        (A) [ ]
        (B) [ ]
- --------------------------------------------------------------------------------
3)   SEC Use Only
- --------------------------------------------------------------------------------
4)   Citizenship or Place of Organization

      DELAWARE LIMITED LIABILITY COMPANY
- --------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each Reporting Person With:

        5) Sole Voting Power

                           0
        -----------------------------------------------
        6) Shared Voting Power

                           0
        -----------------------------------------------
        7) Sole Dispositive Power

                           0
        -----------------------------------------------
        8) Shared Dispositive Power

                           0
- --------------------------------------------------------------------------------
9)    Aggregate Amount Beneficially Owned by Each Reporting Person

             0
- --------------------------------------------------------------------------------
10)   Check If the Aggregate Amount in Row (9) Excludes Certain Shares
      (See Instructions)

            [ ]
- --------------------------------------------------------------------------------
11)   Percent of Class Represented by Amount in Row (9)

            0.00%
- --------------------------------------------------------------------------------

12)   Type of Reporting Person (See Instructions)
            IA, CO

- --------------------------------------------------------------------------------

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Item 1. (a) Name of Issuer:

          Bancshares Of Florida, Inc.

        (b) Address of Issuer's Principal Executive Offices:

          1185 Immokalee Road
          Naples, Florida 34110
- --------------------------------------------------------------------------------
Item 2. (a) NAME OF PERSON FILING; ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF
NONE, RESIDENCE; CITIZENSHIP:

         This Schedule 13G/A is being filed jointly by Keefe Managers, LLC, a
Delaware limited liability company("KM, LLC"). The business address of KM, LLC
and Ventures is 375 Park Avenue (23rd Floor), New York, New York 10152.

        (d) Title of Class of Securities

            Common Stock

        (e) CUSIP Number:

            05976U102
- --------------------------------------------------------------------------------
Item 3. If this statement is being filed pursuant to Rule 13d-1(b) or (c),
        or 13d-2(b), check whether the person filing is:

     (a) [ ] Broker or dealer registered under Section 15 of the Act
     (b) [ ] Bank as defined in section 3(a)(6) of the Act
     (c) [ ] Insurance company as defined in section 3(a)(19) of the Act
     (d) [ ] Investment company registered under section 8 of the Investment
             Company Act of 1940
     (e) [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
     (f) [ ] An employee benefit plan or endowment fund in accordance with Rule
             13d-1(b)(1)(ii)(F)
     (g) [ ] A parent holding company or control person in accordance with Rule
             13d-1(b)(ii)(G)
     (h) [ ] A savings association as defined in Section 3(b) of the Federal
             Deposit Insurance Act
     (i) [ ] A church plan that is excluded from the definition of an investment
             company under Section 3(c)(14) of the Investment Company Act of
             1940
     (j) [ ] Group, in accordance with 13d-1(b)(1)(ii)(J)
- -----------------------------------------------------------------------------

                                       3


Item 4. Ownership:

(a)   Amount Beneficially Owned: 0

(b)   Percent of Class:  0

(c)   Number of Shares as to which such person has:

(i)   Sole power to vote or direct the vote: 0

(ii)  Shared power to vote or direct the vote: 0

(iii) Sole power to dispose or direct the disposition of: 0

(iv)  Shared power to dispose or direct the disposition of: 0

- --------------------------------------------------------------------------------
Item 5. Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof
the reporting persons have ceased to be the beneficial owners of more than five
percent of the class of securities check the following [X]

- --------------------------------------------------------------------------------
Item 6. Ownership of More than Five Percent on Behalf of Another Person:

Not applicable

- --------------------------------------------------------------------------------
Item 7. Identification and Classification of the Subsidiary which Acquired the
Security Being Reported on By the Parent Holding Company

Not applicable

- --------------------------------------------------------------------------------
Item 8. Identification and Classification of Members of the Group

Not applicable

- --------------------------------------------------------------------------------
Item 9. Notice of Dissolution of Group

Not applicable
- --------------------------------------------------------------------------------

                                       4



Item 10. Certification

     By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or
as a participant in any transaction having that purpose or effect.


     After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.

                                  KEEFE MANAGERS, LLC

                                  By: /s/ JOHN J. LYONS
                                      -------------------------------
                                      Name:  John J. Lyons
                                      Title: President, Co-CEO






Date: February 14, 2006

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