Citizens South Banking 8-K Regulation FD Disclosure

Exhibit 99

Citizens South Banking Corporation

Southeast SuperCommunity
Bank Conference
Atlanta, Georgia

February 15, 2007

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Forward Looking Statements

          Statements contained in this presentation, which are not historical facts, are forward looking statements.  The Company’s senior management or directors may from time to time make public forward looking statements concerning matters herein.  Such forward looking statements are estimates reflecting the best judgment of senior management or the directors based on current information. A number of factors that could affect the accuracy of such forward looking statements are identified in the public filings made by the Company with the Securities and Exchange Commission on Forms 10-Q and 10-K.  The Company undertakes no obligation to publicly revise any forward looking statements to reflect events and circumstances that may arise after the date hereof. There can be no assurance the such factors will not affect the accuracy of such forward looking statements.

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Overview of Presentation

• Corporate Profile

• Vision and Business Strategy

• Historical Financial Performance

• Why own Citizens South Banking Corporation stock

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Corporate Profile

• Founded in 1904

• Converted to a Mutual Holding Company in 1998

• Acquired Innes Street Financial Corporation, Salisbury , NC in 2001

• Converted to a Stock Holding Company in 2001

• Acquired Trinity Bank, Monroe, NC in 2005

• Operate 14 full-service offices and two loan production offices with 146 employees

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Stock Information

Stock Price as of 01-26-07	$	13.24
Consensus 2007 Estimate	$	0.76
Book Value (12-31-06)	$	10.61
Cash Dividend (Annualized)	$	0.30
Price to 2007 Estimate		17.4x
Price to Book Value		122.0	%
Dividend Yield		2.3	%

Listed on NASDAQ Global Market under the ticker symbol “CSBC”

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Selected Financial Information
(Dollars in thousands)

	December 31, 2006
Assets	$	743,370
Loans	$	515,402
Deposits	$	562,802
Equity	$	85,961
Net interest margin		3.31	%
Return on Assets		0.76	%
Return on Equity		6.41	%
Efficiency Ratio		65.51	%
Equity / Assets		11.86	%

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2006 Developments

• Realized a 42% increase in diluted operating EPS to $0.67

• Initiated a Performance Acceleration Program

• Realigned management team and incentive bonus plan

• Consolidated data processing and back-office functions from Trinity Bank

• Increased NIM by 8 basis points to 3.31%

• Opened a full-service office in Belmont, NC

• Opened a LPO in Rock Hill, SC

• Deposit growth of 8.7% to $562.8 million

• Organic loan growth of 8.9% to $515.4 million

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The Citizens South Market Area

Our Charlotte Regional Presence

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Deposit Market Share

Counties Where Citizens South has a Branch Office – Gaston, Rowan, Iredell, & Union – As of June 30, 2006

Rank	Financial Institution	Branches		Deposits (000’s)		Market Share
1	Branch Banking and Trust Co.		23	$	1,295,897		18.81	%
2	Wachovia Bank		27	$	1,280,407		18.59	%
3	Bank of America		17	$	543,963		7.90	%
4	Citizens South Bank		14	$	539,392		7.83	%
5	SunTrust Bank		14	$	535,124		7.77	%
6	Farmers and Merchants Bank		9	$	394,691		5.73	%
7	First Charter Bank		8	$	354,338		5.14	%
8	First Gaston Bank of NC		7	$	242,623		3.52	%
9	First Citizens Bank & Trust		7	$	229,131		3.33	%
10	Yadkin Valley Bank		6	$	223,725		3.25	%
	All other institutions		45	$	1,249,001		18.13	%
Total Deposits - All CSB Counties			177	$	6,888,292		100.00	%

Source: FDIC

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Deposit Market Share

Charlotte Metropolitan Area
As of June 30, 2006

Rank	Financial Institution	Branches		Deposits (000’s)		Market Share
1	Wachovia Bank		85	$	60,486,030		64.38	%
2	Bank of America		56	$	21,695,208		23.09	%
3	Branch Banking & Trust		49	$	2,901,353		3.09	%
4	First Charter Bank		34	$	2,229,037		2.37	%
5	SunTrust Bank		34	$	1,239,512		1.32	%
6	RBC Centura		17	$	1,116,922		1.19	%
7	First Citizens Bank & Trust		29	$	902,066		0.96	%
8	Citizens South Bank		10	$	336,583		0.36	%
9	American Community Bank		10	$	318,877		0.34	%
10	First Trust		2	$	261,252		0.28	%
11	South Carolina B&T		6	$	199,724		0.21	%
12	First Gaston Bank of NC		5	$	197,090		0.21	%
13	New Dominion Bank		3	$	194,507		0.21	%
14	Bank of Granite		4	$	170,905		0.18	%
15	Scottish Bank		4	$	162,055		0.17	%
	All other institutions		67	$	1,542,370		1.64	%
Total Deposits - Charlotte MSA			415	$	93,953,491		100.00	%

Source: FDIC

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The Charlotte Observer – May 21,2006

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The Charlotte Observer – June 9, 2006

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The Management Team

		Experience	Prior Employer
•	Kim S.  Price	24	First National Bank/FHLB
	President & CEO
•	Gary F. Hoskins	19	FHLB - Atlanta/OTS
	Chief Financial Officer
•	Daniel M. Boyd, IV	21	Wachovia/First Gaston
	Commercial Banking
•	V. Burton Brinson, Jr,	29	Wachovia
	Retail Banking
•	J. Stephen Huffstetler	26	First Community/FUNB
	Mortgage Banking
•	Paul L. Teem, Jr.	23	Citizens South Bank
	Chief Administrative Officer
•	Michael R. Maguire	26	First Union Nat’l Bank
	Chief Credit Officer
•	Kimberly Goins Cooke	17	First Gaston Bank
	Chief Information Officer

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Vision and Business Strategy

I	Create a Banklike Organization
	A.	Management / Culture
	B.	Restructure Balance Sheet
	C.	Grow
	D.	Generate Additional Noninterest Sources of Revenue
	E.	Manage Interest Rate Risk
	F.	Create Charlotte Regional Franchise / Footprint

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Vision and Business Strategy

II	Enhance Shareholder Value
	A.	Leverage Capital
		1.	Grow retail and commercial banking
		2.	Establish de novo offices
		3.	Investigate branch acquisitions
		4.	Invest in related businesses
		5.	Pursue whole bank acquisitions
	B.	Manage Capital
		1.	Evaluate dividend policy
		2.	Execute stock repurchase plan

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Total Assets

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Net Outstanding Loans

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Loan Portfolio Mix

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As of December 31, 2006

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Nonperforming Assets

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Total Deposits

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Total Core Deposits

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Deposit Mix

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As of December 31, 2006

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Noninterest Income

(excludes net gains and losses on sales of assets)

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Net Interest Margin

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Quarterly Operating EPS

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Outstanding Shares

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Why Own CSBC?

• Dynamic Market

• Charlotte Regional Franchise / Footprint

• Balance Sheet Transformation

• Attractive Price – 17.4x 2007 estimate and 122% of book value

• Experienced Management Team

• Proven Leverage Performance

• Earnings Momentum

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Stock Performance Since IPO

Total Return Performance

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Index	04/13/98		12/31/02		12/31/03		12/31/04		12/31/05		12/31/06
Citizens South Banking Corporation		10,000		23,843		33,225		34,654		29,646		32,866
Russell 2000		10,000		8,494		12,507		14,801		15,474		18,317
SNL Southeast Thrift Index		10,000		13,882		21,052		24,886		22,646		26,614

Source: SNL Financial LC

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Thank You.

We appreciate your interest in Citizens South Banking Corporation.