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) ~~June~~ 8December 21, 2010

CommunitySouth Financial Corporation

(Exact name of registrant as specified in its charter)

South Carolina

(State or other jurisdiction of incorporation)

000-51896		20-0934786
(Commission File Number)		(IRS Employer Identification No.)

6602 Calhoun Memorial Parkway, Easley, South Carolina		29640
(Address of principal executive offices)		(Zip Code)

(864) 306-2540

(Registrant’s telephone number, including area code)

(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 (see General Instruction A.2. below):

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

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

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

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

Item 58.0701 ~~Submission~~Other ~~of Matters to a Vote of Security Holders~~Events.

OnThe ~~June~~Board of Directors of CommunitySouth Financial Corporation (the “Company”) determined that the Company will be unable to make to the holders of its subordinated promissory notes (the “Notes”) the quarterly interest payment on the Notes due on January 81, ~~2010,~~2011 due to a lack of ~~4,698,697~~available ~~shares~~cash ~~outstanding~~at ~~and~~the ~~entitled~~holding company. As previously disclosed, due to ~~vote~~ limited operations at the holding company level, the Company relies on its bank subsidiary, CommunitySouth ~~Financial~~Bank ~~Corporation’s~~and Trust (the “~~Company~~Bank”), ~~2010~~to ~~Annual Shareholders’~~provide ~~Meeting,~~funding 2to the Company to meet its obligations,~~823,380~~ ~~shares~~including ~~were~~the ~~present~~interest inpayments ~~person~~on the Notes. Various legal limitations currently restrict the Bank from lending or byotherwise ~~proxy,~~supplying ~~and~~ funds to the ~~following~~Company ~~matters~~to ~~were~~meet ~~voted~~its ~~upon~~obligations, including making interest payments, and ~~approved~~as bya result the Company~~’s shareholders~~ atdoes not have sufficient funds to make the ~~2010~~quarterly ~~Annual~~interest ~~Shareholders’~~payment ~~Meeting:~~on the Notes due on January 1, 2011.

1. As previously disclosed, during the ~~election~~third quarter of ~~four~~2008, the Company sold Notes in the aggregate principal amount of $4.325 million to certain accredited investors, including directors and executive officers of the Company. The Notes bear interest at a rate of 11.5%, are callable after September 30, 2011, at a premium, and mature in 2018. The Notes were structured to ~~our~~fully ~~board~~count as Tier 2 regulatory capital on a consolidated basis. The Company deferred the July 1, 2010 and October 1, 2010 quarterly interest payments on Notes held by members of ~~directors;~~ the Company’s Board of Directors, and the Company made the October 1, 2010 quarterly interest payment on Notes held by non-directors based on a reduced interest rate of 6.0%. The Company will be unable to make interest payments to any holders for the January 1, 2011 interest payment.

2. The foregoing summary description of the ~~ratification~~Notes is qualified in its entirety by reference to the full text of the ~~appointment~~Subordinated Note Purchase Agreement by and among the Company and certain purchasers (the “Purchase Agreement”) and the form of ~~Elliott Davis~~Note, ~~LLC~~copies of which are filed as ~~our~~Exhibits ~~independent~~10.1 ~~auditor~~and ~~for~~10.2 to the ~~fiscal~~Company’s ~~year~~Current ~~ending~~Report ~~December~~on Form 318-K filed with the SEC on August 28, ~~2010~~ 2008, which are incorporated herein by reference.

~~The following is a summary of the voting results for each matter presented to the shareholders:~~2

~~Election of Directors~~SIGNATURES

Name	Votes For	Votes Withheld	Broker Non-Votes
G. Dial DuBose	1,605,217	37,393	1,180,770
Joanne M. Rogers	1,513,636	128,974	1,180,770
B. Lynn Spencer	1,604,750	37,860	1,180,770
Daniel E. Youngblood	1,511,134	131,476	1,180,770

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.

Ratification of the Appointment of Elliott Davis

	COMMUNITYSOUTH FINANCIAL CORPORATION


Dated: December 22, 2010	By:	/s/ John W. Hobbs
		John W. Hobbs
		Chief Financial Officer

Votes For		Votes Against		Votes Abstained
2,802,689		20,691		0

Item 7.01 Regulation FD Disclosure

The Company is hereby furnishing a slide presentation that was given by certain executive officers and the chairman of the board of directors of the Company at the Company’s 2010 Annual Shareholders’ Meeting held on June 8, 2010. The presentation is filed as Exhibit 99.1 to this Current Report on Form 8-K.

The information in Item 7.01 and Exhibit 99.1 of Item 9.01 is being furnished, not filed. Accordingly, the information in this Item 7.01 and Exhibit 99.1 of Item 9.01 will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933 unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that (i) the information in this Current Report is material or complete or (ii) investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.

The information in Item 7.01 and Exhibit 99.1 of Item 9.01 contains projections and forward-looking statements regarding events or the future financial performance of the Company. These forward-looking statements involve certain risks and uncertainties, including a variety of factors (including a downturn in the economy, greater than expected non-interest expenses, excessive loan losses and other factors) that may cause the Company’s actual results to differ materially from the anticipated results expressed in these forward-looking statements. Therefore, we can give no assurance that the results contemplated in the

forward-looking statements will be realized. Investors are cautioned not to place undue reliance on these forward-looking statements and are advised to review the risk factors that may affect the Company’s operating results in documents filed by the Company with the Securities and Exchange Commission, including the Annual report on Form 10-K and other required filings. The Company assumes no duty to update the forward-looking statements made in this presentation.

Item 9.01 Financial Statements and Exhibits

Exhibit
Number		Description
99.1		Slide presentation given by certain executive officers and the chairman of the board of directors of CommunitySouth Financial Corporation on June 8, 2010.

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.

	CommunitySouth Financial Corporation
	By:	/s/ John W. Hobbs
	Name:	John W. Hobbs
	Title:	Chief Financial Officer
Dated: June 8, 2010

EXHIBIT INDEX

Exhibit
Number		Description
99.1		Slide presentation given by certain executive officers and the chairman of the board of directors of CommunitySouth Financial Corporation on June 8, 2010.

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