Item 1.01. Entry into a Material Definitive Agreement.

As previously announced, on September 4, 2008, Superior Bancorp (the "Company") established a one-year revolving line of credit with Colonial Bank (the "2008 Agreement"). On August 14, 2009, BB& T Corporation acquired the banking operations of Colonial Bank. On September 2, 2009, the Company entered into an agreement with Branch Banking and Trust Company ("BB&T") amending the 2008 Agreement by, among other things, extending until September 3, 2010 the maturity date of the Company's line of credit and changing the amount available thereunder to $7 million. Pursuant to the amended loan agreement and promissory note, interest on each advance under the revolving line of credit accrues at the Wall Street Journal prime rate plus 125 basis points, but not less than 4.5% per annum. The outstanding principal balance under the line of credit is $7 million.

Neither the Company nor the Company's affiliates have any material relationship with BB&T other than in respect of the line of credit, except that D. Dewey Mitchell, a director of the Company, is a guarantor on a business development loan from BB&T, and Robert R. Parrish, Jr., a director of the Company, is a member of two limited liability companies which have loans from BB&T.

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