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

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 08 )*

Habersham Bancorp(Name of Issuer)

Common Stock(Title of Class of Securities)

404459109 (CUSIP Number)

December 31, 2003(Date of Event which Requires Filing of this Statement)

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

[		]  Rule 13d-1(b)
[		]  Rule 13d-1(c)
[	X	]  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 the 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).

SCHEDULE 13G
CUSIP No. 404459109
	1.	Names of Reporting Persons. David D. Stovall I.R.S. Identification Nos. of above persons (entities only).
	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 United States of America
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power 72,492*
		6.	Shared Voting Power 106,129*
		7.	Sole Dispositive Power 72,492*
		8.	Shared Dispositive Power 106,129*
	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 178,621*
	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  [ X ]
	11.	Percent of Class Represented by Amount in Row (9) 6.07%
	12.	Type of Reporting Person IN
* Mr. Stovall has sole voting and dispositive power with respect to 72,492 shares, of which 71,053 shares are subject to exercisable options. He shares voting and dispositive power with respect to 8,334 shares held jointly with his daughter and 97,795 shares held jointly with his wife. Does not include 9,511 shares held in the Habersham Savings Investment Plan as of December 31, 2003, the date with respect to which the most recent plan statement is available.
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Item 1.
	(a)	Name of Issuer          Habersham Bancorp
	(b)	Address of Issuer's Principal Executive Offices P. O. Box 1980 Highway 441 North Cornelia, Georgia 30531
Item 2.
	(a)	Name of Person Filing David D. Stovall
	(b)	Address of Principal Business Office or, if none, Residence P. O. Box 1980 Highway 441 North Cornelia, Georgia 30531
	(c)	Citizenship United States of America
	(d)	Title of Class of Securities Common Stock, $1.00 par value
	(e)	CUSIP Number 404459109
Item 3.		If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
	(a)	[    ]	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
	(b)	[    ]	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
	(c)	[    ]	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
	(d)	[    ]	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
	(e)	[    ]	An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
	(f)	[    ]	An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
	(g)	[    ]	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)	[    ]	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(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 (15 U.S.C. 80a-3);
	(j)	[    ]	Group, in accordance with §240.13d-1(b)(1)(ii)(J).
Item 4.		Ownership.
	(a)	Amount beneficially owned:          178,621*
	(b)	Percent of class:          6.07%
	(c)	Number of shares as to which the person has:
		(i)	Sole power to vote or to direct the vote          72,492*
		(ii)	Shared power to vote or to direct the vote          106,129*
		(iii)	Sole power to dispose or to direct the disposition of          72,492*
		(iv)	Shared power to dispose or to direct the disposition of          106,129*

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 person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [    ].
Instruction: Dissolution of a group requires a response to this item.          N/A
Item 6.	Ownership of More than Five Percent on Behalf of Another Person
N/A
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
N/A
Item 8.	Identification and Classification of Members of the Group
N/A
Item 9.	Notice of Dissolution of Group
N/A
Item 10.	Certification
Not Applicable
SIGNATURE

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.
Date:   February 17, 2004
	David D. Stovall
	By:	/s/ Edward D. Ariail      Edward D. Ariail
	Title:		Attorney-in-Fact

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