-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LjwcljjQvaPsp1qf2KzNEDk3wiJ+Kptjfs9mwcaAvB/pBXvzuS461L1UAXb9wVyh
 uJpsQbZhuiFawBn0n8qD9A==

<SEC-DOCUMENT>0000926044-10-000375.txt : 20101221
<SEC-HEADER>0000926044-10-000375.hdr.sgml : 20101221
<ACCEPTANCE-DATETIME>20101221130406
ACCESSION NUMBER:		0000926044-10-000375
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(6)
FILED AS OF DATE:		20101220
DATE AS OF CHANGE:		20101221
EFFECTIVENESS DATE:		20101220

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CLARKSTON FINANCIAL CORP
		CENTRAL INDEX KEY:			0001068366
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-138733
		FILM NUMBER:		101264962

	BUSINESS ADDRESS:	
		STREET 1:		6600 HIGHLAND ROAD SUITE 24
		CITY:			WATERFORD
		STATE:			MI
		ZIP:			48327
		BUSINESS PHONE:		248-625-8585

	MAIL ADDRESS:	
		STREET 1:		6600 HIGHLAND ROAD SUITE 24
		CITY:			WATERFORD
		STATE:			MI
		ZIP:			48327
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001068366</cik>
        <entityName>CLARKSTON FINANCIAL CORP</entityName>
        <issuerAddress>
            <street1>6600 HIGHLAND ROAD SUITE 24</street1>
            <city>WATERFORD</city>
            <stateOrCountry>MI</stateOrCountry>
            <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
            <zipCode>48327</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>248-625-8585</issuerPhoneNumber>
        <jurisdictionOfInc>MICHIGAN</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>J</firstName>
                <middleName>Grant</middleName>
                <lastName>Smith</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <lastName>Wayne</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Edwin</firstName>
                <middleName>L</middleName>
                <lastName>Adler</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>J</middleName>
                <lastName>Clark</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kenneth</firstName>
                <lastName>Rogers</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>E</middleName>
                <lastName>Kimble</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <lastName>Murvay</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>H</middleName>
                <lastName>Welker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Clarkston Financial Corporation</street1>
                <street2>6600 Highland Road Suite 24</street2>
                <city>Waterford</city>
                <stateOrCountry>MI</stateOrCountry>
                <stateOrCountryDescription>MICHIGAN</stateOrCountryDescription>
                <zipCode>48327</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$5,000,001 - $25,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.6</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000926044-10-000112</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-01-29</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>10218000</totalOfferingAmount>
            <totalAmountSold>1700000</totalAmountSold>
            <totalRemaining>8518000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>15</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>CLARKSTON FINANCIAL CORP</issuerName>
                <signatureName>/s/ J. Grant Smith</signatureName>
                <nameOfSigner>J. Grant Smith</nameOfSigner>
                <signatureTitle>President and CEO</signatureTitle>
                <signatureDate>2010-12-20</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----