EXHIBIT 23.1


                        CONSENT OF ERNST & YOUNG L.L.P.

We consent to the reference to our firm under the caption "Experts" and to the 
use of our report dated March 17, 1998, in the Registration Statement (Form S-1 
No. 333-xxxxx) and related Prospectus of New South Bancshares, Inc. for the 
registration of 3,450,000 shares of New South Capital Trust 1 ___% Preferred 
Securities (liquidation amount $10.000 per preferred security) fully and 
unconditionally guaranteed by New South Bancshares, Inc.

       

                                                /s/ ERNST & YOUNG L.L.P.
                                               ------------------------------

Birmingham, Alabama
May 12, 1998