EXHIBIT 23.1

    
                        CONSENT OF ERNST & YOUNG LLP

We consent to the reference to our firm under the caption "Experts" and to the 
use of our report dated March 17, 1998, in Amendment No. 3 to the Registration 
Statement (Form S-1 No. 333-49459) and related Prospectus of New South 
Bancshares, Inc. for the registration of 3,000,000 shares of New South Capital 
Trust Preferred Securities (liquidation amount $10.00 per preferred security) 
fully and unconditionally guaranteed by New South Bancshares, Inc.
       

                                                /s/ ERNST & YOUNG LLP         
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Birmingham, Alabama
    
May 29, 1998