FLORIDIAN FINANCIAL GROUP, INC.

FORM 8-K

CURRENT REPORT

On January 4, 2010, Floridian Financial Group, Inc. (the “Company”) appointed Michael V. Kearney, 49, Executive Vice President. Also on January 4, 2010, the Company’s current Chief Financial Officer, John D. Waters, 63, announced his retirement from the Company effective on April 30, 2010. A planned succession is intended to take place with Mr. Kearney assuming Mr. Waters’ Chief Financial Officer responsibilities and becoming the Company’s Chief Financial Officer upon Mr. Waters’ retirement. The Company’s Board of Directors (“Board”) expects to appoint Mr. Waters to the Board effective April 30, 2010.

Prior to his appointment as Executive Vice President of the Company, Mr. Kearney, a Certified Public Accountant, served as Chief Financial Officer of Heritage Bank of North Florida, based in Jacksonville, Florida since December 2006. From 1988 until November 2006, Mr. Kearney was employed by Sun Trust Banks, Inc. in various accounting and finance related positions, including Director of Financial Reporting from 1998 until May 2005 and Director of Accounting Control and Accounting Risk Management from May 2005 until November 2006. Mr. Kearney is an honors graduate of the Graduate School of Banking, University of Wisconsin as well as a graduate of Illinois State University with a Bachelor of Science in Accounting.

Mr. Kearney was not selected pursuant to any arrangement or understanding between him and any other person. Other than his employment relationship, Mr. Kearney does not have a direct or indirect material interest in any transaction to which the Company is a party. Mr. Kearney does not have any family relationship with any director, executive officer, or person nominated or chosen by the Company to become a director or executive officer.

In connection with the Company’s appointment of Mr. Kearney as Executive Vice President, the Company entered into an employment agreement with Mr. Kearney, dated December 18, 2009 (the “Employment Agreement”), a copy of which is attached as Exhibit 10.1. Pursuant to the Employment Agreement, Mr. Kearney will be employed for a three year term at a minimum base salary of $140,016 (subject to adjustment by the Board) plus additional compensation in the form of bonuses as authorized by the Board from time to time. Further, Mr. Kearney will be entitled to participate in the Company’s benefit programs generally made available to employees of the Company. Mr. Kearney will receive a temporary living allowance of $1,500 each calendar month for up to one year while he transitions his residence to Lake Mary, Florida as well as a one-time payment of $23,000 for relocation assistance. Finally, Mr. Kearney received a grant of 15,000 stock options, vesting in five equal annual installments beginning on December 31, 2010, at an exercise price of $12.50 per share.

Additionally, under the terms of the Employment Agreement, Mr. Kearney has agreed not to compete with the Company during the 12-month period following his termination of