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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>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center>___________</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;May 4, 2004</P>
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<P style="margin:0pt; line-height:18pt; font-family:Times New Roman; font-size:16pt" align=center><B>MILLENNIUM BANKSHARES 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>0-49611</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>54-1920520</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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</TD><TD valign=top width=208 colspan=2>&nbsp;</TD><TD valign=top width=208>&nbsp;</TD></TR>
<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>1601 Washington Plaza</B></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>Reston, 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>
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<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><B>20190</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) 464-0100</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:72pt; text-indent:-72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Item 5.</B></P>
<P style="margin:0pt; padding-left:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Other Events and Required FD Disclosure.</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>On May 4, 2004, the Registrant issued a press release announcing that its wholly-owned subsidiary, Millennium Bank, N.A., has received official notification that it has completed all requirements of a Memorandum of Understanding with the Office of Comptroller of the Currency of the United States Treasury Department, signed on November 21, 2002.
A copy of the press release is being filed as an exhibit to this report.</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Item 7.</B></P>
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<P style="margin-top:0pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">(c)</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:85.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>99.1</P>
<P style="margin:0pt; text-indent:144pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Press Release dated May 4, 2004. &nbsp;</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:180pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>MILLENNIUM BANKSHARES 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;May 4, 2004</P>
<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:180pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>By: &nbsp;<U>&nbsp;/s/ Carroll C. Markley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<U><P style="margin:0pt; text-indent:360pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></U></P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Carroll C. Markley </P>
<P style="margin:0pt; text-indent:216pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Chairman and Chief Executive Officer</P>
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<P style="margin-top:0pt; margin-bottom:-14pt; text-indent:54pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Exhibit No.</U></P>
<P style="margin:0pt; text-indent:144pt; 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; text-indent:72pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>99.1</P>
<P style="margin:0pt; text-indent:144pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Press release dated May 4, 2004.</P>
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Millennium Bankshares 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:  May 4, 2004
(Date of earliest event reported)
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
Item 5.
Other Events and Required FD Disclosure.
On May 4, 2004, the Registrant issued a press release announcing that its wholly-owned subsidiary, Millennium Bank, N.A., has received official notification that it has completed all requirements of a Memorandum of Understanding with the Office of Comptroller of the Currency of the United States Treasury Department, signed on November 21, 2002.
A copy of the press release is being filed as an exhibit to this report.
Item 7.
Financial Statements,
Pro Forma
Financial Information and Exhibits.
(c)
Exhibits.
Exhibit No.
Description
99.1
Press Release dated May 4, 2004.
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.
MILLENNIUM BANKSHARES CORPORATION
(Registrant)
Date:  May 4, 2004
By:
/s/ Carroll C. Markley
Carroll C. Markley
Chairman and Chief Executive Officer
Exhibit Index
Exhibit No.
Description
99.1
Press release dated May 4, 2004.