<ARTICLE>                                            9
<CIK>                                       0000846465                        
<NAME>                        CAROLINA FIRST BANCSHARES, INC.
<MULTIPLIER>                                   1
<CURRENCY>                                     US DOLLARS
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                              DEC-31-1997
<PERIOD-START>                                 JAN-01-1997
<PERIOD-END>                                   SEP-30-1997
<EXCHANGE-RATE>                                1
<CASH>                                         19,228,904
<INT-BEARING-DEPOSITS>                         645,159
<FED-FUNDS-SOLD>                               6,300,000
<TRADING-ASSETS>                               0
<INVESTMENTS-HELD-FOR-SALE>                    89,529,121
<INVESTMENTS-CARRYING>                         31,546,757
<INVESTMENTS-MARKET>                           31,836,722
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<ALLOWANCE>                                    4,872,689
<TOTAL-ASSETS>                                 496,587,900
<DEPOSITS>                                     448,401,290
<SHORT-TERM>                                   0
<LIABILITIES-OTHER>                            8,916,045
<LONG-TERM>                                    0
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<INTEREST-INVEST>                              4,642,564
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<LOAN-LOSSES>                                  740,333
<SECURITIES-GAINS>                             66,629
<EXPENSE-OTHER>                                12,050,581
<INCOME-PRETAX>                                6,829,389
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<EXTRAORDINARY>                                0
<CHANGES>                                      0
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<ALLOWANCE-FOREIGN>                            0
<ALLOWANCE-UNALLOCATED>                        0