content: UNITED STATES
                         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: September 22, 1999
  
                               NEWSOUTH BANCORP, INC.
                               ----------------------
               (Exact name of registrant as specified in its charter)
  
  
             Virginia                                            56-1999749
  -------------------------------                           -------------------
  (State or other jurisdiction of                            (I.R.S. Employer
   incorporation or organization)                           Identification No.)
  
  
                          Commission File Number: 0-22219
  
  
               1311 Carolina Avenue, Washington, North Carolina 27889
               ------------------------------------------------------
                      (Address of principal executive offices)
                                     (Zip Code)
  
  
                                   (252) 946-4178
                                   --------------
                (Registrant's telephone number, including area code)
  
  <PAGE>
  
  Information To Be Included In The Report
  
  Item 5.  Other Events.
  
  On September  21, 1999,  NewSouth  Bancorp,  Inc. ( the  "Company")  completed a
  previously  announced 5% stock  repurchase  program and has adopted a program to
  repurchase  an  additional  5% of its  issued and  outstanding  shares of common
  stock, representing 177,727 shares.
  
  The Company has determined that the repurchase of its  outstanding  common stock
  will serve the best interest of the Company and its stockholders by:
  
        (i)   improving liquidity in the market for the Company's common stock;
        (ii)  increasing per share earnings and book value;
        (iii) providing an attractive investment for the Company's funds; and
        (iv)  decreasing  the  potential  diluting  effect  caused  by the  future
              exercise of stock options.
  
  Share  repurchases  will be made from time to time over a period of not  greater
  that  twelve  (12)  months  from the above date of  adoption  of the  repurchase
  program,  and  will be  effected  through  open  market  purchases,  unsolicited
  negotiated transactions,  or in such other manner as will comply with applicable
  law.  The program  will be  dependent  upon market  conditions  and there are no
  assurances  as to the  exact  number  of  shares  the  Company  may be  able  to
  repurchase.
  
  The shares of common stock acquired  pursuant to the repurchase  program will be
  treated as treasury shares on the consolidated  statement of financial condition
  of the Company and will be used for general  corporate  purposes,  including the
  future exercise of stock option.
  
  Incorporated herein by reference as Exhibit 7(c)(1.) is the press release issued
  by the Company on September  22,  1999,  announcing  the above stock  repurchase
  program.
  
  Item 7.  Financial Statements and Exhibits
  
  (c)  Exhibits.
  
       1.   Press release dated September 22, 1999.
  
  
                                     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.
  
  NewSouth Bancorp, Inc.                            /s/ William L. Wall
  ----------------------                            -----------------------------
      (Registrant)                                  William L. Wall
                                                    Executive Vice President
                                                    Chief Financial Officer
  Date:  September 22, 1999                         Secretary
  
  <PAGE>
  
  Exhibit 1.  Press Release Dated September 22, 1999
  
  NewSouth Bancorp, Inc.
  
  PRESS RELEASE                                      FOR IMMEDIATE RELEASE
  September 22, 1999                                 For More Information Contact:
  Newsouth Bancorp, Inc.                             Bill Wall or Tom Vann
                                                     (252) 946-4178
  
  
                               NEWSOUTH BANCORP, INC.
                         ANNOUNCES STOCK REPURCHASE PROGRAM
  
  Washington, North Carolina - NewSouth Bancorp, Inc.  (Nasdaq:NSBC)
  
  NewSouth Bancorp,  Inc. (the "Company"),  the parent holding company of NewSouth
  Bank  headquartered in Washington,  North Carolina,  announces today that it has
  completed a previously announced 5.0% stock repurchase program and has adopted a
  program to repurchase an additional 5.0% of its issued and outstanding shares of
  common stock,  representing  177,727 shares.  The program will be dependent upon
  market  conditions and there is no guarantee as to the exact number of shares to
  be repurchased by the Company.
  
  Tom Vann,  President  of the  Company,  stated that the Board of  Directors  has
  authorized the repurchase program,  which is expected to be completed within one
  year.  Repurchased  shares will be held as  treasury  stock and will be used for
  general corporate purposes, including the future exercise of stock options.
  
  NewSouth  Bank operates  through its main office  located in  Washington,  North
  Carolina with full service branch offices located in Washington, Elizabeth City,
  Greenville, Kinston, New Bern and Rocky Mount, North Carolina.
  
  (Nasdaq:NSBC)
metadata_documents: [{"type": "8-K", "sequence": "1", "description": "NEWSOUTH BANCORP, INC. - 8-K", "secsgml_size_bytes": 5552}]
metadata_filer: {"company-data": {"conformed-name": "NEWSOUTH BANCORP INC", "cik": "0001027183", "assigned-sic": "6035", "irs-number": "561999749", "state-of-incorporation": "VA", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-22219", "film-number": "99715255"}, "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"}}
text: UNITED STATES
                         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: September 22, 1999
  
                               NEWSOUTH BANCORP, INC.
                               ----------------------
               (Exact name of registrant as specified in its charter)
  
             Virginia                                            56-1999749
  -------------------------------                           -------------------
  (State or other jurisdiction of                            (I.R.S. Employer
   incorporation or organization)                           Identification No.)
  
                          Commission File Number: 0-22219
  
               1311 Carolina Avenue, Washington, North Carolina 27889
               ------------------------------------------------------
                      (Address of principal executive offices)
                                     (Zip Code)
  
                                   (252) 946-4178
                                   --------------
                (Registrant's telephone number, including area code)
  Information To Be Included In The Report
  
  Item 5.  Other Events.
  
  On September  21, 1999,  NewSouth  Bancorp,  Inc. ( the  "Company")  completed a
  previously  announced 5% stock  repurchase  program and has adopted a program to
  repurchase  an  additional  5% of its  issued and  outstanding  shares of common
  stock, representing 177,727 shares.
  
  The Company has determined that the repurchase of its  outstanding  common stock
  will serve the best interest of the Company and its stockholders by:
  
        (i)   improving liquidity in the market for the Company's common stock;
        (ii)  increasing per share earnings and book value;
        (iii) providing an attractive investment for the Company's funds; and
        (iv)  decreasing  the  potential  diluting  effect  caused  by the  future
              exercise of stock options.
  
  Share  repurchases  will be made from time to time over a period of not  greater
  that  twelve  (12)  months  from the above date of  adoption  of the  repurchase
  program,  and  will be  effected  through  open  market  purchases,  unsolicited
  negotiated transactions,  or in such other manner as will comply with applicable
  law.  The program  will be  dependent  upon market  conditions  and there are no
  assurances  as to the  exact  number  of  shares  the  Company  may be  able  to
  repurchase.
  
  The shares of common stock acquired  pursuant to the repurchase  program will be
  treated as treasury shares on the consolidated  statement of financial condition
  of the Company and will be used for general  corporate  purposes,  including the
  future exercise of stock option.
  
  Incorporated herein by reference as Exhibit 7(c)(1.) is the press release issued
  by the Company on September  22,  1999,  announcing  the above stock  repurchase
  program.
  
  Item 7.  Financial Statements and Exhibits
  
  (c)  Exhibits.
  
       1.   Press release dated September 22, 1999.
  
                                     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.
  
  NewSouth Bancorp, Inc.                            /s/ William L. Wall
  ----------------------                            -----------------------------
      (Registrant)                                  William L. Wall
                                                    Executive Vice President
                                                    Chief Financial Officer
  Date:  September 22, 1999                         Secretary
  Exhibit 1.  Press Release Dated September 22, 1999
  
  NewSouth Bancorp, Inc.
  
  PRESS RELEASE                                      FOR IMMEDIATE RELEASE
  September 22, 1999                                 For More Information Contact:
  Newsouth Bancorp, Inc.                             Bill Wall or Tom Vann
                                                     (252) 946-4178
  
                               NEWSOUTH BANCORP, INC.
                         ANNOUNCES STOCK REPURCHASE PROGRAM
  
  Washington, North Carolina - NewSouth Bancorp, Inc.  (Nasdaq:NSBC)
  
  NewSouth Bancorp,  Inc. (the "Company"),  the parent holding company of NewSouth
  Bank  headquartered in Washington,  North Carolina,  announces today that it has
  completed a previously announced 5.0% stock repurchase program and has adopted a
  program to repurchase an additional 5.0% of its issued and outstanding shares of
  common stock,  representing  177,727 shares.  The program will be dependent upon
  market  conditions and there is no guarantee as to the exact number of shares to
  be repurchased by the Company.
  
  Tom Vann,  President  of the  Company,  stated that the Board of  Directors  has
  authorized the repurchase program,  which is expected to be completed within one
  year.  Repurchased  shares will be held as  treasury  stock and will be used for
  general corporate purposes, including the future exercise of stock options.
  
  NewSouth  Bank operates  through its main office  located in  Washington,  North
  Carolina with full service branch offices located in Washington, Elizabeth City,
  Greenville, Kinston, New Bern and Rocky Mount, North Carolina.
  
  (Nasdaq:NSBC)