Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Salary Continuation Agreement. On January 23, 2012, the Board of Directors of Citizens South Bank (the "Bank"), a wholly-owned subsidiary of Citizens South Banking Corporation, adopted the Second Amendment (the "Amendment") to the Salary Continuation Agreement for Kim S. Price, President and Chief Executive Officer of the Bank (the "Executive"). The Amendment, effective January 23, 2012, provides that the Executive will be entitled to change-in-control benefits under the Agreement in the event of the Executive's termination of employment at any time and for any reason after a change in control. The Amendment also gives the Executive the opportunity to make a subsequent election to change the form or time of payment of the benefit under the Agreement, in compliance with the requirements of Section 409A of the Internal Revenue Code.

Item 9.01 Financial Statements and Exhibits

(a) Financial statements of businesses acquired. Not Applicable.

(b) Pro forma financial information. Not Applicable.

(c) Shell company transactions. Not applicable.

(d) Exhibits. None.

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