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 (Date of earliest event reported) July 14, 2005

                            FIRST SOUTH BANCORP, INC.
                            -------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         VIRGINIA                          0-22219               56-1999749
         --------                          -------               ----------
(State or other jurisdiction of          (Commission            (IRS Employer
 incorporation or organization)          File Number)        Identification No.)

1311 Carolina Avenue, Washington, North Carolina                   27889
------------------------------------------------                   -----
(Address of principal executive offices)                         (Zip Code)

                                 (252) 946-4178
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 2.02. Results of Operations and Financial Condition
--------------------------------------------------------

On July 14, 2005, First South Bancorp, Inc. (the "Company") issued a press
release announcing its unaudited financial results for the quarter ended June
30, 2005 and the six months ended June 30, 2005. A copy of the press release
dated July 14, 2005 is attached to this Report as an exhibit (Exhibit 99.1) and
is furnished herewith.

Item 9.01. Financial Statements and Exhibits
--------------------------------------------

(a)   Not applicable
(b)   Not applicable
(c)   The following exhibit is filed herewith:

      Exhibit 99.1 - Press Release dated July 14, 2005.


                                   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: July 15, 2005                             By: /s/ William L. Wall
                                                    -------------------
                                                    William L. Wall
                                                    Executive Vice President
                                                    Chief Financial Officer and
                                                    Secretary
{"company-data": {"conformed-name": "FIRST SOUTH BANCORP INC /VA/", "cik": "0001027183", "assigned-sic": "6022", "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": "05955981"}, "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"}}
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 (Date of earliest event reported) July 14, 2005

                            FIRST SOUTH BANCORP, INC.
                            -------------------------
             (Exact Name of Registrant as Specified in Its Charter)

         VIRGINIA                          0-22219               56-1999749
         --------                          -------               ----------
(State or other jurisdiction of          (Commission            (IRS Employer
 incorporation or organization)          File Number)        Identification No.)

1311 Carolina Avenue, Washington, North Carolina                   27889
------------------------------------------------                   -----
(Address of principal executive offices)                         (Zip Code)

                                 (252) 946-4178
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition
--------------------------------------------------------

On July 14, 2005, First South Bancorp, Inc. (the "Company") issued a press
release announcing its unaudited financial results for the quarter ended June
30, 2005 and the six months ended June 30, 2005. A copy of the press release
dated July 14, 2005 is attached to this Report as an exhibit (Exhibit 99.1) and
is furnished herewith.

Item 9.01. Financial Statements and Exhibits
--------------------------------------------

(a)   Not applicable
(b)   Not applicable
(c)   The following exhibit is filed herewith:

      Exhibit 99.1 - Press Release dated July 14, 2005.

                                   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: July 15, 2005                             By: /s/ William L. Wall
                                                    -------------------
                                                    William L. Wall
                                                    Executive Vice President
                                                    Chief Financial Officer and
                                                    Secretary