content: <html>
  
  <head>
  
  
  
  
  
  </head>
  
  <body lang="EN-US">
  
  <div style="font-family:Times New Roman;">
  
  <div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b><font size="5" style="font-size:18.0pt;"><br>
  </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of<br>
  the Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest </font><font size="2" style="font-size:10.0pt;">event
  reported):&#160;&#160; <b>May&nbsp;20,
  2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">TEAM
  FINANCIAL, INC.</font></b><font size="5" style="font-size:18.0pt;"><br>
  </font><font size="2" style="font-size:10.0pt;">(Exact
  name of registrant as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">KANSAS</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-26335</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">48-1017164</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of incorporation</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">8 West Peoria, Suite&nbsp;200,</font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;"><br>
  </font></b><b><font size="2" style="font-size:10.0pt;font-weight:bold;">Paola, Kansas, 66071</font></b><font size="2" style="font-size:10.0pt;"><br>
  (Address of principal executive offices) (Zip Code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(913) 294-9667</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number,
  including area code</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not Applicable</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former Name or Former Address, if Changed Since Last Report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K
  filing is intended to simultaneously satisfy the filing obligation of the
  registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;Written communications
  pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;Soliciting material
  pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;Pre-commencement
  communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
  CFR 240.14d-2(b))</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp;&nbsp;Pre-commencement
  communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17
  CFR 240.13e-4(c)) </font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt .5in;padding:0in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\105589\08-15151-1\task2956209\15151-1-ba.htm',USER='105589',CD='May 23 07:07 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">TABLE OF CONTENTS</font></u></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Section5CorporateGovernanceAndMan_153324">Section&nbsp;5 -
  Corporate Governance and Management</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 81.0pt;text-indent:-.75in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Item5_02DepartureOfDirectorsOrCer_153327">Item 5.02&#160; Departure of Directors or Certain Officers;
  Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt 81.0pt;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Signature_153408">Signature</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Section9FinancialStatementsAndExh_153334">Section&nbsp;9 &#151;
  Financial Statements and Exhibits</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:27.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#Item9_01FinancialStatementsAndExh_153338">Item 9.01&#160; Financial Statements and Exhibits</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:27.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.75in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#dExhibits_153349">(d)&nbsp;
  Exhibits</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;"><a href="#LetterDatedMay202008FromKeithB_Ed_153402">Exhibit-17.1&#160; Letter from Resigning Director</a></font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\105589\08-15151-1\task2956209\15151-1-ba.htm',USER='105589',CD='May 23 07:07 2008' -->
  
  
  
  <br clear="all" style="page-break-before:always;">
  <div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section&nbsp;5 - Corporate Governance
  and Management</font></b><a name="Section5CorporateGovernanceAndMan_153324"></a></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 81.0pt;text-indent:-.75in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02&#160; Departure of Directors or
  Certain Officers; Election of Directors; Appointment of Certain Officers;
  Compensatory Arrangements of Certain Officers.</font></b><a name="Item5_02DepartureOfDirectorsOrCer_153327"></a></p>
  
  <p style="margin:0in 0in .0001pt 81.0pt;text-indent:-.75in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)(1)(2)&nbsp;
  On Tuesday May&nbsp;20, 2008, Keith B. Edquist resigned from the Board of
  Directors (the &#147;Board&#148;) of Team Financial,&nbsp;Inc. (the &#147;Company&#148;).</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Edquist
  had served as a director of the Company since 2002.&#160; During his six-year tenure, he served on
  various committees of the Board including the Audit Committee, the Compensation
  Committee, and the Nominating Committee.&#160;
  Mr.&nbsp;Edquist was a member of the Company&#146;s independent director&#146;s
  group, which meets quarterly and provides guidance and oversight to the Board
  and management.&#160; Mr.&nbsp;Edquist&#146;s term
  as a director was scheduled to expire at this year&#146;s annual shareholders&#146;
  meeting&#160; on&#160; June&nbsp;17, 2008, as on March&nbsp;5,
  2008,&#160; the&#160; Nominating Committee of the Board, which is
  comprised solely of independent directors, determined that Mr.&nbsp;Edquist
  would not be nominated for reelection as a director.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">According
  to Mr.&nbsp;Edquist&#146;s letter of resignation (attached as Exhibit&nbsp;17.1 to
  this Form&nbsp;8-K), he disagrees with the Company&#146;s corporate governance
  culture, believes that the Company&#146;s performance is inadequate, and has concerns
  over the Company&#146;s compensatory arrangements with some of its executive
  officers, particularly in light of the Company&#146;s performance.&#160; Additionally, because of his concerns
  regarding the management of the Company, Mr.&nbsp;Edquist expressed his present
  intention to nominate himself and two other individuals for election to the
  Board at the Company&#146;s annual shareholders&#146; meeting to be held on June&nbsp;17,
  2008 and believes that his resignation from the Board was necessary to avoid
  the appearance of a conflict of interest before he can engage in a proxy
  contest opposing the Board nominees selected by the Company.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
  Company, its Board, and the various committees of the Board adhere to the
  corporate governance practices established by the Board and they believe that
  all actions taken by the Board and the various committees of the Board have
  been in the best interest of shareholders. The Company disagrees with Mr.&nbsp;Edquist&#146;s
  conclusion that he was relieved of his Board committee responsibilites &#147;...when
  I objected to the Chairman of the Compensation Committee&#146;s procedures.&#148;&#160; The Compensation Committee, which is
  comprised solely of independent directors, diligently examines appropriate
  compensation levels for the Company&#146;s named executive officers.&#160; Compensation is reviewed annually and is tied
  to Company performance through numerous factors including asset growth, return
  on average equity, earnings growth compared to the prior year&#146;s performance,
  and strategic positioning of the Company for the future.&#160; The philosophies and practices relating to
  the compensation of named executive officers are described in more detail in
  proxy statements sent to shareholders.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)(1)&nbsp;
  On May&nbsp;24, 2008 the Company&#146;s Board of Directors convened and, among other
  things, appointed Robert M. Blachly to the Board of Directors, effective
  immediately, to succeed Keith Edquist in his position as a Director.&#160; Mr.&nbsp;Blachly is a graduate of the
  University of Kansas with a Bachelor of Science degree in Business
  Administration.&#160; He serves as an Executive
  Vice President of The Industrial Fumigant Company in Olathe, Kansas, where he
  has served in various progressive capacities since 1976.&#160; Mr.&nbsp;Blachly has served as a director of
  TeamBank, N.A. since August&nbsp;2006, and continues to serve in that capacity.&#160; As a member of the TeamBank, N.A. Board of
  Directors, Mr.&nbsp;Blachly has served as a member of the Board Loan
  Committee.&#160; As a member of the Board of
  Directors of the Company, Mr.&nbsp;Blachly will serve on the Company&#146;s
  Executive Committee.&#160; There have been no transactions
  of Mr.&nbsp;Blachly with management or others that would be reportable under
  Item 404(a)&nbsp;of Regulation S-K.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\Vmeane\08-15151-1\task2961053\15151-1-bc.htm',USER='vmeane',CD='May 27 14:45 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Section&nbsp;9 &#151; Financial Statements and Exhibits</font></b><a name="Section9FinancialStatementsAndExh_153334"></a></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:27.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01 Financial Statements and Exhibits.</font></b><a name="Item9_01FinancialStatementsAndExh_153338"></a></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Financial Statements of businesses
  acquired:</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not
  applicable.</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Pro Forma financial information:</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not
  applicable.</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Shell company transactions:</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Not
  applicable.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Exhibits:</font><a name="dExhibits_153349"></a></p>
  
  <p style="margin:0in 0in .0001pt 36.75pt;text-indent:-18.75pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.32%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;"><font style="text-decoration:none;">&nbsp;</font></font></u></b></p>
    </td>
    <td width="8%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:8.24%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;No.</font></b></p>
    </td>
    <td width="6%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="78%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:78.82%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="8%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:8.24%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="78%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:78.82%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.24%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">17.1</font></p>
    </td>
    <td width="6%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:6.64%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="78%" valign="top" style="padding:0in .7pt 0in .7pt;width:78.82%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Letter dated
    May&nbsp;20, 2008, from Keith B. Edquist to Robert J. Weatherbie resigning
    from the Board of Directors.<a name="LetterDatedMay202008FromKeithB_Ed_153402"></a></font></p>
    </td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt 2.0in;text-indent:-2.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\Vmeane\08-15151-1\task2961053\15151-1-bc.htm',USER='vmeane',CD='May 27 14:45 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b><a name="Signature_153408"></a></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TEAM FINANCIAL,
    INC</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="45%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:45.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Bruce R. Vance</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:45.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bruce R. Vance</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:45.68%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interim Chief Financial
    Officer</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="50%" valign="top" style="padding:0in .7pt 0in .7pt;width:50.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="29%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:29.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="20%" valign="top" style="padding:0in .7pt 0in .7pt;width:20.7%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr height="0">
    <td width="374" style="border:none;"></td>
    <td width="32" style="border:none;"></td>
    <td width="187" style="border:none;"></td>
    <td width="155" style="border:none;"></td>
   </tr>
  </table>
  
  <p style="margin:0in 0in .0001pt 3.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h4 align="left" style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: May&nbsp;27,
  2008</font></h4>
  
  <h4 align="left" style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h4>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\Vmeane\08-15151-1\task2961053\15151-1-bc.htm',USER='vmeane',CD='May 27 14:45 2008' -->
  
  
  </body>
  
  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-15151_18k.htm", "description": "8-K", "secsgml_size_bytes": 39456}]
metadata_filer: {"company-data": {"conformed-name": "TEAM FINANCIAL INC /KS", "cik": "0001082484", "assigned-sic": "6021", "irs-number": "481017164", "state-of-incorporation": "KS", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26335", "film-number": "08861327"}, "business-address": {"street1": "8 WEST PEORIA", "street2": "SUITE 200", "city": "PAOLA", "state": "KS", "zip": "66071", "phone": "9132949667"}, "mail-address": {"street1": "8 WEST PEORIA", "street2": "SUITE 200", "city": "PAOLA", "state": "KS", "zip": "66071"}}
text: 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):
  May 20,
  2008
  TEAM
  FINANCIAL, INC.
  (Exact
  name of registrant as specified in its charter)
  KANSAS
  000-26335
  48-1017164
  (State or other jurisdiction
  (Commission
  (IRS Employer
  of incorporation
  File Number)
  Identification No.)
  8 West Peoria, Suite 200,
  Paola, Kansas, 66071
  (Address of principal executive offices) (Zip Code)
  (913) 294-9667
  Registrant's telephone number,
  including area code
  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))
  TABLE OF CONTENTS
  Section 5 -
  Corporate Governance and Management
  Item 5.02  Departure of Directors or Certain Officers;
  Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.
  Signature
  Section 9 —
  Financial Statements and Exhibits
  Item 9.01  Financial Statements and Exhibits
  (d) 
  Exhibits
  Exhibit-17.1  Letter from Resigning Director
  2
  Section 5 - Corporate Governance
  and Management
  Item 5.02  Departure of Directors or
  Certain Officers; Election of Directors; Appointment of Certain Officers;
  Compensatory Arrangements of Certain Officers.
  (a)(1)(2) 
  On Tuesday May 20, 2008, Keith B. Edquist resigned from the Board of
  Directors (the "Board") of Team Financial, Inc. (the "Company").
  Mr. Edquist
  had served as a director of the Company since 2002.  During his six-year tenure, he served on
  various committees of the Board including the Audit Committee, the Compensation
  Committee, and the Nominating Committee. 
  Mr. Edquist was a member of the Company's independent director's
  group, which meets quarterly and provides guidance and oversight to the Board
  and management.  Mr. Edquist's term
  as a director was scheduled to expire at this year's annual shareholders'
  meeting  on  June 17, 2008, as on March 5,
  2008,  the  Nominating Committee of the Board, which is
  comprised solely of independent directors, determined that Mr. Edquist
  would not be nominated for reelection as a director.
  According
  to Mr. Edquist's letter of resignation (attached as Exhibit 17.1 to
  this Form 8-K), he disagrees with the Company's corporate governance
  culture, believes that the Company's performance is inadequate, and has concerns
  over the Company's compensatory arrangements with some of its executive
  officers, particularly in light of the Company's performance.  Additionally, because of his concerns
  regarding the management of the Company, Mr. Edquist expressed his present
  intention to nominate himself and two other individuals for election to the
  Board at the Company's annual shareholders' meeting to be held on June 17,
  2008 and believes that his resignation from the Board was necessary to avoid
  the appearance of a conflict of interest before he can engage in a proxy
  contest opposing the Board nominees selected by the Company.
  The
  Company, its Board, and the various committees of the Board adhere to the
  corporate governance practices established by the Board and they believe that
  all actions taken by the Board and the various committees of the Board have
  been in the best interest of shareholders. The Company disagrees with Mr. Edquist's
  conclusion that he was relieved of his Board committee responsibilites "...when
  I objected to the Chairman of the Compensation Committee's procedures."  The Compensation Committee, which is
  comprised solely of independent directors, diligently examines appropriate
  compensation levels for the Company's named executive officers.  Compensation is reviewed annually and is tied
  to Company performance through numerous factors including asset growth, return
  on average equity, earnings growth compared to the prior year's performance,
  and strategic positioning of the Company for the future.  The philosophies and practices relating to
  the compensation of named executive officers are described in more detail in
  proxy statements sent to shareholders.
  (d)(1) 
  On May 24, 2008 the Company's Board of Directors convened and, among other
  things, appointed Robert M. Blachly to the Board of Directors, effective
  immediately, to succeed Keith Edquist in his position as a Director.  Mr. Blachly is a graduate of the
  University of Kansas with a Bachelor of Science degree in Business
  Administration.  He serves as an Executive
  Vice President of The Industrial Fumigant Company in Olathe, Kansas, where he
  has served in various progressive capacities since 1976.  Mr. Blachly has served as a director of
  TeamBank, N.A. since August 2006, and continues to serve in that capacity.  As a member of the TeamBank, N.A. Board of
  Directors, Mr. Blachly has served as a member of the Board Loan
  Committee.  As a member of the Board of
  Directors of the Company, Mr. Blachly will serve on the Company's
  Executive Committee.  There have been no transactions
  of Mr. Blachly with management or others that would be reportable under
  Item 404(a) of Regulation S-K.
  3
  Section 9 — Financial Statements and Exhibits
  Item 9.01 Financial Statements and Exhibits.
  (a)
  Financial Statements of businesses
  acquired:
  Not
  applicable.
  (b)
  Pro Forma financial information:
  Not
  applicable.
  (c)
  Shell company transactions:
  Not
  applicable.
  (d)
  Exhibits:
  Exhibit No.
  Description
  17.1
  Letter dated
    May 20, 2008, from Keith B. Edquist to Robert J. Weatherbie resigning
    from the Board of Directors.
  4
  SIGNATURE
  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.
  TEAM FINANCIAL,
    INC
  By:
  /s/ Bruce R. Vance
  Bruce R. Vance
  Interim Chief Financial
    Officer
  Date: May 27,
  2008
  5