-----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,
 MVLQdZ3eo4gjBBAMQoy6M43xCf4Yc3Z8yTBiDS0I25I+vA+DAWCRIWWYKkf2PJZF
 a6BgDDRslxRe4smMX345Og==

<SEC-DOCUMENT>0001214143-09-000003.txt : 20090817
<SEC-HEADER>0001214143-09-000003.hdr.sgml : 20090817
<ACCEPTANCE-DATETIME>20090817161857
ACCESSION NUMBER:		0001214143-09-000003
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090817
DATE AS OF CHANGE:		20090817
EFFECTIVENESS DATE:		20090817

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAND BANKSHARES INC
		CENTRAL INDEX KEY:			0001214143
		IRS NUMBER:				651133652
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-51798
		FILM NUMBER:		091019363

	BUSINESS ADDRESS:	
		STREET 1:		2055 PALM BEACH LAKES BLVD
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33409
		BUSINESS PHONE:		5616155000

	MAIL ADDRESS:	
		STREET 1:		2055 PALM BEACH LAKES BOULEVARD
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33409
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0502</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001214143</cik>
        <entityName>GRAND BANKSHARES INC</entityName>
        <issuerAddress>
            <street1>2055 PALM BEACH LAKES BLVD</street1>
            <street2></street2>
            <city>WEST PALM BEACH</city>
            <stateOrCountry>FL</stateOrCountry>
            <zipCode>33409</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>5616155000</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>FLORIDA</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>Russell</middleName>
                <lastName>Greene</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>207 Via Emilia</street1>
                <street2></street2>
                <city>Palm Beach Gardens</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33418</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gerard</firstName>
                <middleName>A</middleName>
                <lastName>Arsenault</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>109 South Anchorage Drive</street1>
                <street2></street2>
                <city>North Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33408</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>H</middleName>
                <lastName>Baker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>250 Miramar Way</street1>
                <street2></street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33405</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>W</middleName>
                <lastName>Bubis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2366 Inland Cove Road</street1>
                <street2></street2>
                <city>Palm Beach Gardens</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33410</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alfred</firstName>
                <middleName>J</middleName>
                <lastName>Cinque</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3 Golfview Road</street1>
                <street2></street2>
                <city>Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33480</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Sandy</firstName>
                <middleName>L</middleName>
                <lastName>Costello</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>476 Glenbrook Drive</street1>
                <street2></street2>
                <city>Atlantis</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33462</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Leighan</firstName>
                <middleName>R</middleName>
                <lastName>Rinker</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>556 Muirfield Drive</street1>
                <street2></street2>
                <city>Atlantis</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33462</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Daniel</firstName>
                <middleName>J</middleName>
                <lastName>Shepherd</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>782 Lakeside Drive</street1>
                <street2></street2>
                <city>North Plam Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33408</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>A</middleName>
                <lastName>Vander Woude</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1281 Georgia Road</street1>
                <street2></street2>
                <city>Franklin</city>
                <stateOrCountry>NC</stateOrCountry>
                <zipCode>28743</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Larry</firstName>
                <middleName>E</middleName>
                <lastName>Wright</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>11 DeWitt Place</street1>
                <street2></street2>
                <city>Tequesta</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33469</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gerald</firstName>
                <middleName>F</middleName>
                <lastName>Martens</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2261 Gabriel Lane</street1>
                <street2></street2>
                <city>West Palm Beach</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33406</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <middleName>R</middleName>
                <lastName>Odza</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>5602 NW 61st Avenue</street1>
                <street2></street2>
                <city>Coral Springs</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>33067</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-07-24</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isOptionToAcquireType>true</isOptionToAcquireType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>25000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>10000000</totalOfferingAmount>
            <totalAmountSold>226000</totalAmountSold>
            <totalRemaining>9774000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>0</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>3</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>GRAND BANKSHARES INC</issuerName>
                <signatureName>James R. Odza</signatureName>
                <nameOfSigner>James R. Odza</nameOfSigner>
                <signatureTitle>Secretary/Treasurer</signatureTitle>
                <signatureDate>2009-08-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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