content: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
  
                         Pursuant to Section 13 or 15(d) of
                         the Securities Exchange Act of 1934
  
  
                 Date of Report (Date of earliest event reported):
                                   March 28, 2002
                                   --------------
  
  
                              First South Bancorp, Inc.
                              -------------------------
               (Exact name of registrant as specified in its charter)
  
  
              Virginia                      0-22219                 56-199749
              --------                      -------                 ---------
  (State or Other Jurisdiction of         (Commission           (I.R.S. Employer
   Incorporation or Organization)         File Number)         Identification No.)
  
  
                  1311 Carolina Avenue, Washington, North Carolina
                  ------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
  
                Registrant's telephone number, including area code:
                                   (252)-946-4178
                                   --------------
  
  
                                   Not applicable
                                   --------------
            (Former name or former address, if changed since last report)
  
  
                                         23
  <PAGE>
  
  Item 5. Other Events
  --------------------
  
       On March 28, 2002, the registrant's  Board of Directors  approved a 3-for-2
  common stock split in the form of a 50% stock  dividend,  and an increase in the
  quarterly cash dividend rate. For additional  information,  reference is made to
  the registrant's press release dated March 28, 2002, which is attached hereto as
  Exhibit 99.1, and incorporated herein by reference.
  
  Item 7.  Financial Statements and Exhibits
  -------  ---------------------------------
  
  Exhibit 99.1 - Press Release dated March 28, 2002.
  
  
                                     SIGNATURES
  
       Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
  registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized
  
                                          First South Bancorp, Inc.
                                          (Registrant)
  
  
  
  Date: March 28, 2002                    By: /s/ William L. Wall
                                              -------------------
                                              William L. Wall
                                              Executive Vice President
                                              Chief Financial Officer and
                                              Secretary
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "x8k-302.txt", "description": "FIRST SOUTH BANK", "secsgml_size_bytes": 2853}]
metadata_filer: {"company-data": {"conformed-name": "FIRST SOUTH BANCORP INC /VA/", "cik": "0001027183", "assigned-sic": "6022", "irs-number": "561999749", "state-of-incorporation": "VA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22219", "film-number": "02590687"}, "business-address": {"street1": "1311 CAROLINA AVE", "city": "WASHINGTON", "state": "NC", "zip": "27889", "phone": "2529464178"}, "mail-address": {"street1": "1311 CAROLINA AVENUE", "city": "WASHINGTON", "state": "NC", "zip": "27889"}, "former-company": {"former-conformed-name": "NEWSOUTH BANCORP INC", "date-changed": "19961115"}}
text: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
  
                         Pursuant to Section 13 or 15(d) of
                         the Securities Exchange Act of 1934
  
                 Date of Report (Date of earliest event reported):
                                   March 28, 2002
                                   --------------
  
                              First South Bancorp, Inc.
                              -------------------------
               (Exact name of registrant as specified in its charter)
  
              Virginia                      0-22219                 56-199749
              --------                      -------                 ---------
  (State or Other Jurisdiction of         (Commission           (I.R.S. Employer
   Incorporation or Organization)         File Number)         Identification No.)
  
                  1311 Carolina Avenue, Washington, North Carolina
                  ------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
                Registrant's telephone number, including area code:
                                   (252)-946-4178
                                   --------------
  
                                   Not applicable
                                   --------------
            (Former name or former address, if changed since last report)
  
                                         23
  Item 5. Other Events
  --------------------
  
       On March 28, 2002, the registrant's  Board of Directors  approved a 3-for-2
  common stock split in the form of a 50% stock  dividend,  and an increase in the
  quarterly cash dividend rate. For additional  information,  reference is made to
  the registrant's press release dated March 28, 2002, which is attached hereto as
  Exhibit 99.1, and incorporated herein by reference.
  
  Item 7.  Financial Statements and Exhibits
  -------  ---------------------------------
  
  Exhibit 99.1 - Press Release dated March 28, 2002.
  
                                     SIGNATURES
  
       Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
  registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized
  
                                          First South Bancorp, Inc.
                                          (Registrant)
  
  Date: March 28, 2002                    By: /s/ William L. Wall
                                              -------------------
                                              William L. Wall
                                              Executive Vice President
                                              Chief Financial Officer and
                                              Secretary