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<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Washington, D.C. &nbsp;20549</B></P>
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<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>FORM 8-K</B></P>
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<P style="margin:0pt; line-height:16pt; font-family:Times New Roman; font-size:14pt" align=center><B>CURRENT REPORT</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Securities Exchange Act of 1934</B></P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>Date of Report: &nbsp;September 11, 2003</P>
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<P style="margin:0pt; line-height:18pt; font-family:Times New Roman; font-size:16pt" align=center><B>MIDDLEBURG FINANCIAL CORPORATION</B></P>
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<TABLE cellspacing=0 align=center><TR><TD valign=top width=208><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Virginia</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(State or Other Jurisdiction</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>of Incorporation)</P>
</TD><TD valign=top width=208 colspan=2><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>0-24159</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Commission File Number)</P>
</TD><TD valign=top width=208><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>54-1696103</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Identification No.)</P>
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<TR><TD valign=top width=312 colspan=2><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>111 West Washington Street</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Middleburg, Virginia</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Address of Principal Executive Offices)</P>
</TD><TD valign=top width=312 colspan=2><P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>20117</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Zip Code)</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>Registrant&#146;s telephone number, including area code:</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>(703) 777-6327</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 5.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Other Events.</B></P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The press release issued by the Registrant on September 11, 2003 and attached hereto as Exhibit 99 is incorporated herein by reference.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 7.</B></P>
<B><P style="margin:0pt; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Financial Statements, <I>Pro Forma</I> Financial Information and Exhibits.</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>(c)</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:144pt; text-indent:-54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>99</P>
<P style="margin:0pt; padding-left:144pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Press Release issued by the Registrant dated September 11, 2003.</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center>2</P>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>SIGNATURES</B></P>
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<P style="margin:0pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
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<B><P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>MIDDLEBURG FINANCIAL CORPORATION </B></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Date: &nbsp;September 11, 2003</P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>By: &nbsp;<U>/s/ Alice P. Frazier &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P style="margin:0pt; text-indent:243pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Alice P. Frazier </P>
<P style="margin:0pt; text-indent:243pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Executive Vice President and</P>
<P style="margin:0pt; text-indent:243pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">&nbsp;&nbsp;&nbsp;Chief Financial Officer</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center>3</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:12.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Exhibit No.</U></P>
<P style="margin:0pt; text-indent:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Description</U></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-78pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>99</P>
<P style="margin:0pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Press release issued by the Registrant on September 11, 2003.</P>
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Middleburg Financial Corporation
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:  September 11, 2003
(Date of earliest event reported)
MIDDLEBURG FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Virginia
(State or Other Jurisdiction
of Incorporation)
0-24159
(Commission File Number)
54-1696103
(IRS Employer
Identification No.)
111 West Washington Street
Middleburg, Virginia
(Address of Principal Executive Offices)
20117
(Zip Code)
Registrant's telephone number, including area code:
(703) 777-6327
Item 5.
Other Events.
The press release issued by the Registrant on September 11, 2003 and attached hereto as Exhibit 99 is incorporated herein by reference.
Item 7.
Financial Statements,
Pro Forma
Financial Information and Exhibits.
(c)
Exhibits.
Exhibit No.
Description
99
Press Release issued by the Registrant dated September 11, 2003.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MIDDLEBURG FINANCIAL CORPORATION
(Registrant)
Date:  September 11, 2003
By:
/s/ Alice P. Frazier
Alice P. Frazier
Executive Vice President and
Chief Financial Officer
3
Exhibit Index
Exhibit No.
Description
99
Press release issued by the Registrant on September 11, 2003.