ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Effective September 1, 2008, Robert J. Weatherbie resigned as Chief Executive Officer and Director of Team Financial, Inc. (the "Registrant") and as President of TeamBank, N.A. and as Director of TeamBank, N.A. and Colorado National Bank and their affiliates. Mr. Weatherbie's decision to resign as Chief Executive Officer and from the Registrant's Board of Directors is not the result of any known disagreement with the Registrant, known to an executive officer of the Registrant, on any matter relating to the Registrant's operations, policies or practices.

ITEM 8.01 OTHER EVENTS.

On September 2, 2008 the Registrant issued a press release which is attached as Exhibit 99.2 hereto. The press release shall be deemed to be furnished rather than filed.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(a) Financial statements of businesses acquired:

(b) Pro forma financial information:

Not applicable.

(c) Shell company transactions:

Not applicable.

(d) Exhibits:

Exhibit 99.2 Team Financial, Inc. Press Release dated September 2, 2008, which shall be deemed to be furnished rather than filed.

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