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<TITLE>Millennium Bankshares Corporation</TITLE>

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<P style="margin:0pt; padding-bottom:3pt; text-indent:252pt; border-bottom:3pt double #000000" align=center><B>&nbsp;</b></p>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>UNITED STATES</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Washington, D.C. 20549</B></P>
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<P style="line-height:16pt; margin:0pt; font-size:14pt" align=center><B>FORM 8-K</B></P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>CURRENT REPORT</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Date of Report (Date of earliest event reported): &nbsp;<B>October 23, 2006</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>___________</B></P>
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<P style="line-height:16pt; margin:0pt; font-size:14pt" align=center><B>MILLENNIUM BANKSHARES CORPORATION</B></P>
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<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=166.8></TD><TD width=83.4></TD><TD width=83.4></TD><TD width=166.8></TD></TR>
<TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4><P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Virginia</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(State or other jurisdiction</P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>of incorporation)</P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4 colspan=2><P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>0-49611</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(Commission File Number)</P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><B>54-1920520</B> </P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(IRS Employer</P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>Identification No.)</P>
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<TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4><P style="font-size:2pt">&nbsp;</P></TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4 colspan=2><P style="font-size:2pt">&nbsp;</P></TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=222.4><P style="font-size:2pt">&nbsp;</P></TD></TR>
<TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=333.6 colspan=2><P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>1601 Washington Plaza</B></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Reston, Virginia</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(Address of principal executive offices)</P>
</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" valign=top width=333.6 colspan=2><P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>20190</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(Zip Code)</P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center>Registrant&#146;s telephone number, including area code: <B>(703) 464-0100</B></P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>Not Applicable</B></P>
<P style="line-height:13pt; margin:0pt; font-size:11pt" align=center>(Former name or former address, if changed since last report)</P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=justify>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:</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:18pt; font-size:12pt" align=justify><FONT FACE="Wingdings">o</FONT></P>
<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:18pt; font-size:12pt" align=justify><FONT FACE="Wingdings">o</FONT></P>
<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:18pt; font-size:12pt" align=justify><FONT FACE="Wingdings">o</FONT></P>
<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:18pt; font-size:12pt" align=justify><FONT FACE="Wingdings">o</FONT></P>
<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="margin:0pt; padding-bottom:3pt; text-indent:252pt; border-bottom:3pt double #000000" align=center><B>&nbsp;</b></p>

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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; font-size:12pt"><B>Item&nbsp;2.02 </B></P>
<P style="line-height:14pt; margin:0pt; text-indent:72pt; font-size:12pt"><B>Results of Operations and Financial Condition.</B></P>
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<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>On October 23, 2006, Millennium Bankshares Corporation issued a press release reporting its financial results for the period ended September 30, 2006. &nbsp;A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 2.02.</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; font-size:12pt"><B>Item&nbsp;9.01</B></P>
<P style="line-height:14pt; margin:0pt; text-indent:72pt; font-size:12pt"><B>Financial Statements and Exhibits.</B></P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; font-size:12pt">(c)</P>
<P style="line-height:14pt; margin:0pt; text-indent:58.5pt; font-size:12pt">Exhibits. &nbsp;The following exhibit is being furnished pursuant to Item 2.02 above.</P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:72pt; font-size:12pt"><B><U>Exhibit No.</U></B></P>
<P style="line-height:14pt; margin:0pt; padding-left:72pt; text-indent:90pt; font-size:12pt"><B><U>Description</U></B></P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:162pt; text-indent:-72pt; font-size:12pt">99.1 </P>
<P style="line-height:14pt; margin:0pt; padding-left:162pt; font-size:12pt">Press Release dated October 23, 2006, reporting earnings for the period ended September 30, 2006.</P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>SIGNATURES</B></P>
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<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>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.</P>
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<P style="line-height:14pt; margin:0pt; padding-left:216pt; font-size:12pt" align=justify><B>MILLENNIUM BANKSHARES CORPORATION</B></P>
<P style="line-height:14pt; margin:0pt; padding-left:288pt; font-size:12pt" align=justify>(Registrant) </P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; font-size:12pt" align=justify>Dated: &nbsp;October 25, 2006</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; text-indent:216pt; font-size:12pt" align=justify>By:</P>
<P style="line-height:14pt; margin:0pt; text-indent:252pt; font-size:12pt" align=justify><U>/s/ Dale G. Phelps</U></P>
<P style="line-height:14pt; margin:0pt; padding-left:234pt; font-size:12pt" align=justify>Dale G. Phelps</P>
<P style="line-height:14pt; margin:0pt; padding-left:234pt; font-size:12pt" align=justify>Executive Vice President and</P>
<P style="line-height:14pt; margin:0pt; padding-left:234pt; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;Chief Financial Officer</P>
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<P style="line-height:14pt; margin:0pt; font-size:12pt; page-break-before:always" align=center><B>EXHIBIT INDEX</B></P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:72pt; font-size:12pt"><B><U>Exhibit No.</U></B></P>
<P style="line-height:14pt; margin:0pt; padding-left:72pt; text-indent:90pt; font-size:12pt"><B><U>Description</U></B></P>
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<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:162pt; text-indent:-72pt; font-size:12pt">99.1 </P>
<P style="line-height:14pt; margin:0pt; padding-left:162pt; font-size:12pt">Press Release dated October 23, 2006, reporting earnings for the period ended September 30, 2006.</P>
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Millennium Bankshares Corporation
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):
October 23, 2006
___________
MILLENNIUM BANKSHARES CORPORATION
(Exact name of registrant as specified in its charter)
Virginia
(State or other jurisdiction
of incorporation)
0-49611
(Commission File Number)
54-1920520
(IRS Employer
Identification No.)
1601 Washington Plaza
Reston, Virginia
(Address of principal executive offices)
20190
(Zip Code)
Registrant's telephone number, including area code:
(703) 464-0100
Not Applicable
(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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02
Results of Operations and Financial Condition.
On October 23, 2006, Millennium Bankshares Corporation issued a press release reporting its financial results for the period ended September 30, 2006.  A copy of the press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 2.02.
Item 9.01
Financial Statements and Exhibits.
(c)
Exhibits.  The following exhibit is being furnished pursuant to Item 2.02 above.
Exhibit No.
Description
99.1
Press Release dated October 23, 2006, reporting earnings for the period ended September 30, 2006.
SIGNATURES
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.
MILLENNIUM BANKSHARES CORPORATION
(Registrant)
Dated:  October 25, 2006
By:
/s/ Dale G. Phelps
Dale G. Phelps
Executive Vice President and
Chief Financial Officer
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release dated October 23, 2006, reporting earnings for the period ended September 30, 2006.