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* HOSKINS GARY FOSTER (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) Director 10% Owner X Officer (give title below) Other (specify below) EVP, Treasurer and CFO
	3. Date of Earliest Transaction (Month/Day/Year) 12/13/2010
	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	12/13/2010		F		650(2)	D	$4.69	57,987(1)(3)(4)	D
Common Stock								27,045(1)	I	By his 401(k) Plan
Common Stock								14,609(1)	I	By his ESOP
Common Stock								26(1)	I	Custodian for son
Common Stock								26(1)	I	Custodian for daughter
Common Stock								520(1)	I	By his IRAs
Common Stock								520(1)	I	By wife's IRAs

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)	$4.762(1)							(5)	03/16/2019	Common Stock	215(1)		215(1)	D
Stock Option (Right to Buy)(6)	$7.619(1)							(6)	06/16/2018	Common Stock	15,750(1)		15,750(1)	D
Stock Option (Right to Buy)(7)	$14.324(1)							11/03/2003	11/03/2013	Common Stock	42,000(1)		42,000(1)	D

Explanation of Responses:

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

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

3. Includes 31,500 Restricted Stock Awards, composed of 9,450 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% on June 16, 2009, 10% on June 16, 2010, 10% on June 16, 2011, 35% on June 16, 2012, and 35% on June 16, 2013.

4. Includes 1,050 Recognition and Retention awards that will cliff vest on January 22, 2012, five years after the date of the award; and includes 21,000 Recognition and Retention shares awarded on November 3, 2003, that vested over a seven-year period, commencing on the date of the award, at the rate of 30% immediately, 10% on January 2, 2004, 10% on November 3, 2005, and 10% per year on November 3 of each year thereafter and have fully vested on November 3, 2010. Accordingly, 22,890 shares from these Awards have vested and 8,610 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 March 16, 2010, and continuing each anniversary thereafter through March 16, 2014.

6. 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.

7. This incentive stock option has vested. Accordingly, 48,343 incentive stock options have vested and 9,622 incentive stock options have not vested.

Remarks:

	/s/ Gary Foster Hoskins	12/13/2010
	** 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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