<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 1997 AUDITED
FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<NAME>    NEW SOUTH BANCSHARES INC
<CIK>     0001058991
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               DEC-31-1997
<CASH>                                          16,943
<INT-BEARING-DEPOSITS>                             200
<FED-FUNDS-SOLD>                                     0
<TRADING-ASSETS>                                     0
<INVESTMENTS-HELD-FOR-SALE>                    232,705
<INVESTMENTS-CARRYING>                               0
<INVESTMENTS-MARKET>                                 0
<LOANS>                                        727,854
<ALLOWANCE>                                     (7,333)
<TOTAL-ASSETS>                                 992,065
<DEPOSITS>                                     695,365
<SHORT-TERM>                                    40,800
<LIABILITIES-OTHER>                            203,586
<LONG-TERM>                                          0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         1,377
<OTHER-SE>                                      50,937
<TOTAL-LIABILITIES-AND-EQUITY>                 992,065
<INTEREST-LOAN>                                 64,831
<INTEREST-INVEST>                               10,660
<INTEREST-OTHER>                                     0
<INTEREST-TOTAL>                                75,491
<INTEREST-DEPOSIT>                              37,732
<INTEREST-EXPENSE>                              47,723
<INTEREST-INCOME-NET>                           27,768
<LOAN-LOSSES>                                    2,954
<SECURITIES-GAINS>                                (645)
<EXPENSE-OTHER>                                 31,422
<INCOME-PRETAX>                                  8,706
<INCOME-PRE-EXTRAORDINARY>                       4,716
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,716
<EPS-PRIMARY>                                     3.42
<EPS-DILUTED>                                     3.42
<YIELD-ACTUAL>                                    8.72
<LOANS-NON>                                      6,065
<LOANS-PAST>                                         0
<LOANS-TROUBLED>                                 2,062
<LOANS-PROBLEM>                                  8,127
<ALLOWANCE-OPEN>                                 5,904
<CHARGE-OFFS>                                    2,200
<RECOVERIES>                                       675
<ALLOWANCE-CLOSE>                                7,333
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                          7,333