Ownership Submission
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

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
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 (Month/Day/Year)
05/29/2007
(Street)

PAOLA, KS 66071		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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               58,999 I Spouse
Common Stock, No Par Value               340 I Minor Children
Common Stock, No Par Value               24,663 I Self Directed IRA
Common Stock, No Par Value 05/29/2007   A   100 A $ 14.35 (2) 110,077 I ESOP
Common Stock, No Par Value 05/29/2007   A   1,537 A $ 14.55 (3) 111,614 I ESOP

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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 20,000   20,000 D  
Option $ 8.94               (1) 01/01/2010 Common Stock 15,000   35,000 D  
Option $ 6.625             12/31/2001 12/31/2010 Common Stock 15,000   50,000 D  
Option $ 6.625               (1) 01/01/2011 Common Stock 15,000   65,000 D  
Option $ 8.32               (1) 01/01/2012 Common Stock 15,000   80,000 D  
Option $ 10.106             12/31/2003 12/31/2012 Common Stock 4,000   84,000 D  
Option $ 10.106               (1) 01/01/2013 Common Stock 15,000   99,000 D  
Option $ 12.41               (1) 01/01/2014 Common Stock 15,000   114,000 D  
Option $ 12.194               (1) 01/01/2015 Common Stock 15,000   129,000 D  
Option $ 14.3               (1) 01/01/2016 Common Stock 15,000   144,000 D  
Option $ 15.97               (1) 01/01/2017 Common Stock 15,000   159,000 D  

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   05/29/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(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, 90,000 shares have vested under these options.
(2) Annual 2006 TFI ESOP Forfeiture Allocation
(3) Annual 2006 TFI ESOP Contribution Allocation
 
Remarks:
EXHIBIT 24.1 Power of Attorney

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