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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001179055-09-000004.txt : 20091230
<SEC-HEADER>0001179055-09-000004.hdr.sgml : 20091230
<ACCEPTANCE-DATETIME>20091229191148
ACCESSION NUMBER:		0001179055-09-000004
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20091230
DATE AS OF CHANGE:		20091229
EFFECTIVENESS DATE:		20091230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIDCOUNTRY FINANCIAL CORP
		CENTRAL INDEX KEY:			0001179055
		IRS NUMBER:				020601695
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-46744
		FILM NUMBER:		091264804

	BUSINESS ADDRESS:	
		STREET 1:		201 SECOND STREET, SUITE 950
		CITY:			MACON
		STATE:			GA
		ZIP:			31201
		BUSINESS PHONE:		478-750-2084

	MAIL ADDRESS:	
		STREET 1:		201 SECOND STREET, SUITE 950
		CITY:			MACON
		STATE:			GA
		ZIP:			31201
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<edgarSubmission>

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    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001179055</cik>
        <entityName>MIDCOUNTRY FINANCIAL CORP</entityName>
        <issuerAddress>
            <street1>201 SECOND STREET, SUITE 950</street1>
            <city>MACON</city>
            <stateOrCountry>GA</stateOrCountry>
            <zipCode>31201</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>478-750-2084</issuerPhoneNumber>
        <jurisdictionOfInc>GEORGIA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
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        <edgarPreviousNameList>
            <value>None</value>
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        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>F.</middleName>
                <lastName>Hatcher</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <middleName>G.</middleName>
                <lastName>Davis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>L.</middleName>
                <lastName>Hall</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alison</firstName>
                <middleName>N.</middleName>
                <lastName>LaBruyere</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Senior Vice President, General Counsel and Corporate Secretary</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Marian</firstName>
                <middleName>M.</middleName>
                <lastName>Mackle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>C.</firstName>
                <middleName>Lee</middleName>
                <lastName>Ellis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>W.</middleName>
                <lastName>Carpenter</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>L.</middleName>
                <lastName>Clayton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>F.</middleName>
                <lastName>Hatcher, Jr.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Carol</firstName>
                <middleName>A.</middleName>
                <lastName>Jackson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sherry</firstName>
                <middleName>A.</middleName>
                <lastName>Kellett</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jerry</firstName>
                <middleName>A.</middleName>
                <lastName>Newby</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>G.</middleName>
                <lastName>Rutledge</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>D.</middleName>
                <lastName>Underwood</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Timothy</firstName>
                <middleName>W.</middleName>
                <lastName>Williams</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>201 Second Street</street1>
                <street2>Suite 950</street2>
                <city>Macon</city>
                <stateOrCountry>GA</stateOrCountry>
                <zipCode>31201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Banking and Financial Services</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Over $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001179055-09-000003</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-09-29</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Sandler O'Neill &amp; Partners, L.P.</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>Sandler O'Neill &amp; Partners, L.P.</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>919 Third Avenue</street1>
                    <street2>6th Avenue</street2>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10022</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>AL</state>
                    <state>GA</state>
                    <state>IL</state>
                    <state>MD</state>
                    <state>MO</state>
                    <state>NY</state>
                    <state>NC</state>
                    <state>SC</state>
                    <state>TN</state>
                    <state>TX</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>40000000</totalOfferingAmount>
            <totalAmountSold>13000000</totalAmountSold>
            <totalRemaining>27000000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>7</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>750000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>MIDCOUNTRY FINANCIAL CORP</issuerName>
                <signatureName>Alison N. LaBruyere</signatureName>
                <nameOfSigner>Alison N. LaBruyere</nameOfSigner>
                <signatureTitle>Senior Vice President, General Counsel &amp; Corporate Secretary</signatureTitle>
                <signatureDate>2009-12-29</signatureDate>
            </signature>
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