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 *

PRICE KIM STUART 		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
(Last)          (First)          (Middle)

519 SOUTH NEW HOPE ROAD 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/23/2012
(Street)

GASTONIA, NC 28054
(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   5/23/2012     P    3000   A $6.06   17153   (1) I   By his IRA  
Common Stock                  134436   (1) (2) (3) D    
Common Stock                  11548   (1) I   By his 401(k) Plan  
Commn Stock                  24366   (1) I   By his ESOP  
Common Stock                  1249   (1) I   Wife as cust for their son  
Common Stock                  1348   (1) I   By wife's IRA  
Common Stock                  2813   (1) I   Wife joint with her mother  
Common Stock                  3133   (1) I   Wife as a Co-Trustee of a Family Trust  

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
Stock Option (Right to Buy)   (4) $7.619   (1)                    (4) 6/16/2018   Common Stock   36750   (1)   36750   (1) D    
Stock Option (Right to Buy)   (5) $14.324   (1)                  11/3/2003   (5) 11/3/2013   Common Stock   105000   (1)   105000   (1) D    

Explanation of Responses:
( 1)  Reflects adjustment for stock split distributed on November 15, 2010.
( 2)  Includes 108,872 Restricted Stock Awards, composed of 6,825 Restricted Stock Awards granted on February 18, 2011, that will cliff vest on February 18, 2013, and 84,722 Restricted Stock Awards granted on April 19, 1999, November 3, 2003, April 15, 2009, and February 19, 2010,
( 3)  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% 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, 89,919 shares from these Awards have vested and 18,953 shares have not vested.
( 4)  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.
( 5)  This incentive stock option has vested. Accordingly, 127,050 incentive stock options have vested and 14,700 incentive stock options have not vested.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
PRICE KIM STUART
519 SOUTH NEW HOPE ROAD
GASTONIA, NC 28054 		X
President and CEO

Signatures
/s/ Kim Stuart Price 5/24/2012
** 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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