FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Keegan Tracy L 		2. Issuer Name and Ticker or Trading Symbol

BANK OF FLORIDA CORP [ BOFL ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Financial Officer
(Last)          (First)          (Middle)

1185 IMMOKALEE ROAD 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/17/2010
(Street)

NAPLES, FL 34110
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   3/17/2010     S    2599   D $1.02   4311   D    
Restricted Common Stock   (3)                10000   D    
Restricted Common Stock   (4)                12000   D    
Common Stock                  2609   I   401(k)  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option   $22.70                    1/1/2007   (1) 1/1/2016   Common Stock   10000     10000   D    
Stock Option   $20.50                    1/3/2008   (2) 1/3/2017   Common Stock   2800     2800   D    
Series B Preferred Stock   $25000   (5)                  6/29/2009   1/1/2011   Newly issued securities   $25000     1   D    
Warrants   $3.47                    6/29/2009   6/29/2019   Common Stock   720     1   D    

Explanation of Responses:
( 1)  Vests in three annual installments beginning on this date.
( 2)  Vests in five annual installments beginning on this date.
( 3)  Becomes non-forfeitable on the third anniversary of the date of grant, provided there have been at least four consecutive quarters of profitability over the three year period.
( 4)  Becomes non-forfeitable over a five year vesting period beginning on the first anniversary of the date of grant.
( 5)  If BOFL conducts any offering for the sale of newly issued securities the Series B Preferred Stock is convertible into the newly offered securities at an exchange rate of $25,000 worth of new securities for each share of Series B Preferred Stock.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Keegan Tracy L
1185 IMMOKALEE ROAD
NAPLES, FL 34110

Chief Financial Officer

Signatures
/s/ Tracy L Keegan 3/19/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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