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 *

WEATHERBIE ROBERT J 		2. Issuer Name and Ticker or Trading Symbol

TEAM FINANCIAL INC /KS [ TFIN ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chairman of the Board, CEO
(Last)          (First)          (Middle)

PO BOX 402 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/27/2008
(Street)

PAOLA, KS 66071
(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, No Par Value                  58999   I   Spouse  
Common Stock, No Par Value                  340   I   Minor Children  
Common Stock, No Par Value                  24663   I   Self Directed IRA  
Common Stock, No Par Value   5/27/2008     A    65   A $16.00   (2) 111679   I   ESOP  
Common Stock, No Par Value   5/27/2008     A    824   A $15.33   (3) 112503   I   ESOP  

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
Option   $8.94                   12/31/2000   12/31/2009   Common Stock   20000     20000   D    
Option   $8.94                     (1) 1/1/2010   Common Stock   15000     35000   D    
Option   $6.625                   12/31/2001   12/31/2010   Common Stock   15000     50000   D    
Option   $6.625                     (1) 1/1/2011   Common Stock   15000     65000   D    
Option   $8.32                     (1) 1/1/2012   Common Stock   15000     80000   D    
Option   $10.10                   12/31/2003   12/31/2012   Common Stock   4000     84000   D    
Option   $10.10                     (1) 1/1/2013   Common Stock   15000     99000   D    
Option   $12.41                     (1) 1/1/2014   Common Stock   15000     114000   D    
Option   $12.194                     (1) 1/1/2015   Common Stock   15000     129000   D    
Option   $14.30                     (1) 1/1/2016   Common Stock   15000     144000   D    
Option   $15.97                     (1) 1/1/2017   Common Stock   15000     159000   D    
Option   $14.81                     (1) 1/1/2018   Common Stock   15000     174000   D    

Explanation of Responses:
( 1)  Shares vest under these options in specified increments upon the reporting person and the company meeting specified financial and/or qualitative objectives and goals. To date, 105,000 shares have vested under these options.
( 2)  Annual 2007 TFI ESOP Forfeiture Allocation
( 3)  Annual 2007 TFI ESOP Contribution Allocation

Remarks:
EXHIBIT 24.1 Power of Attorney

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
WEATHERBIE ROBERT J
PO BOX 402
PAOLA, KS 66071 		X
Chairman of the Board, CEO

Signatures
/s/ Lois Rausch, by power of attorney 5/27/2008
** 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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