Citizens South Banking Corp. expected to Report Fiscal Year 2009 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 20, 2009).

Citizens South Banking Corp. has declared a cash dividend of $0.04 per share of common stock. The company has paid cash dividends in each of the 46 quarters since the Company's conversion to public ownership. The dividend will be payable to shareholders of record as of November 1, 2009, and will be paid on November 15, 2009.

Citizens South Banking Corp. reported unaudited earnings results third quarter and nine months ended September 30, 2009. For the quarter, the company reported a net loss of $759,000, or $0.10 per diluted share as compared to net income of $822,000, or $0.11 per diluted share, for the quarter ended September 30, 2008. The decline in earnings was primarily due to an increase in the provision for loan losses, which amounted to $4.0 million for the third quarter of 2009. The company reported net loss before income taxes was $1,169,000, net interest income was $5,534,000 and total interest income was $9,481,000 as compared to net income before income taxes was $1,009,000, net interest income was $5,382,000 and total interest income was $10,805,000 for the same period last year. For the quarter, the company reported book value per share of $11.08, tangible book value per share of $7.06, negative return on average assets of 0.36%, negative return on average common equity of 3.61% and negative return on tangible common equity of 6.77% compared with book value per share of $11.02, tangible book value per share of $6.84, return on average assets of 0.40%, return on average common equity of 3.97% and return on tangible common equity of 8.45% for the same period a year ago. For nine months,the company reported net loss available to common stockholders of $501,000 or $0.07 diluted loss per share, net loss before income taxes was $614,000, net interest income was $15,850,000 and total interest income was $28,845,000 as compared to net income available to common stockholders of $2,654,000 or $0.36 diluted loss per share, net income before income taxes was $3,301,000, net interest income was $15,081,000 and total interest income was $32,261,000 for the same period last year. The company announced impairment of securities of $333,000 as compared to impairment of securities of $468,000 for the same period last year.