Note 1 - Basis of Presentation

9 Months Ended

Sep. 30, 2013

Disclosure Text Block [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1. Basis of Presentation. The accompanying unaudited consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments necessary for fair presentation of the financial position and results of operations for the periods presented are included, none of which are other than normal recurring accruals. The financial statements of First South Bancorp, Inc. (the “Company”) and First South Bank (the “Bank”) are presented on a consolidated basis. The results of operations for the three and nine months ended September 30, 2013, are not necessarily indicative of the results of operations that may be expected for the year ended December 31, 2013. Certain amounts in the unaudited Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2012 have been reclassified to conform with the presentation as of and for the respective periods ended September 30, 2013. The reclassifications had no effect on previously reported net income or stockholders’ equity.