SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PRICE KIM STUART (Last) (First) (Middle) 519 SOUTH NEW HOPE ROAD (Street) GASTONIA NC 28054 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CITIZENS SOUTH BANKING CORP [ CSBC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) President and CEO
	3. Date of Earliest Transaction (Month/Day/Year) 06/29/2011
	4. If Amendment, Date of 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

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	06/29/2011		F		562(1)	D	$4.14	134,436(1)(2)(3)(4)	D
Common Stock								14,153(2)	I	By his IRA
Common Stock								11,730(2)	I	By his 401(k) Plan
Common Stock								23,744(2)	I	By his ESOP
Common Stock								1,249(2)	I	Wife as cust for their son
Common Stock								1,348(2)	I	By wife's IRA
Common Stock								2,787(2)	I	Wife joint with her mother
Common Stock								3,133(2)	I	Wife as a Co-Trustee of a Family Trust

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 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: 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 (Right to Buy)(5)	$7.619(2)							(5)	06/16/2018	Common Stock	36,750(2)		36,750(2)	D
Stock Option (Right to Buy)(6)	$14.324(2)							11/03/2003	11/03/2013	Common Stock	105,000(2)		105,000(2)	D

Explanation of Responses:

1. Reflects shares withheld to pay tax obligations on vesting of restricted stock.

2. Reflects adjustment for stock split distributed on November 15, 2010.

3. Includes 108,872 Restricted Stock Awards, composed of 6,825 Restricted Stock Awards granted on February 18, 2011, and 2,362 Restricted Stock Awards granted on February 19, 2010, and 15,265 Restricted Stock Awards granted on April 15, 2009, that will cliff vest on the first business day following the period that the Issuer repays the outstanding financial obligation to the United States Department of Treasury arising from the TARP Capital Purchase Program, or, if earlier, will cliff vest or become partially vested up to the maximum amount permissible on the first business day following the earliest date permitted under guidance that may be issued by the United States Department of Treasury or other government agency; and includes 67,095 Restricted Stock Awards granted on April 19, 1999, and November 3, 2003, that have fully vested, and includes 17,325 Restricted Stock Awards that will vest over a five-year period, commencing on June 16, 2008, the date of the award, at the rate of 10%

4. on each of June 16, 2009, June 16, 2010, and June 16, 2011, and 35% on each of June 16, 2012, and June 16, 2013. Accordingly, 72,292 shares from these Awards have vested and 36,580 shares have not vested.

5. This incentive stock option vests in five equal annual installments, with the first installment vesting one year from the date of grant, or on June 16, 2009, and continuing each anniversary thereafter through June 16, 2013.

6. This incentive stock option has vested. Accordingly, 127,050, incentive stock options have vested and 14,700 incentive stock options have not vested.

Remarks:

	/s/ Kim Stuart Price	06/29/2011
	** 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).
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