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) ~~September~~ December 813, 2010

PAB BANKSHARES, INC.

(Exact Name of Registrant as Specified in its Charter)

Georgia	000-25422	58-1473302
(State of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	3250 North Valdosta Road, Valdosta, Georgia	31602
	(Address of Principal Executive Offices)	(Zip Code)

3250 North Valdosta Road, Valdosta, Georgia 31602

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code (229) 241-2775

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:

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 31.01. Entry ~~Notice~~into ~~of Delisting or Failure to Satisfy~~ a ~~Continued~~Material ~~Listing~~Definitive ~~Rule or Standard; Transfer of Listing~~Agreement.

OnEffective ~~September~~December 813, 2010, ~~PAB~~The ~~Bankshares,~~Park ~~Inc.~~Avenue ~~(the~~Bank (“~~Company~~Park Avenue”), ~~received~~the ~~written~~wholly ~~notice~~owned subsidiary ~~from~~of ~~the~~PAB ~~Nasdaq~~Bankshares, ~~Stock~~Inc. ~~Market~~ (the “~~Nasdaq~~Company”), ~~notifying~~entered ~~the~~into ~~Company~~a ~~that~~Prompt itCorrective ~~fails~~Action toDirective ~~comply with Nasdaq’s Marketplace Rule 5450~~ (~~a)(1) (~~the “~~Bid Price Rule~~Directive”) ~~because~~with the ~~closing~~Board ~~bid~~of ~~price~~Governors onof the ~~Company’s~~Federal ~~common~~Reserve ~~stock~~System ~~was less than $1.00 per share for~~ (the ~~last~~“Federal 30Reserve ~~consecutive business days~~Board”). ~~This~~The ~~notification~~Directive ~~has~~was noissued ~~immediate~~due ~~effect~~to on the ~~listing or trading of the Company~~Bank’s ~~securities~~“significantly onundercapitalized” ~~The~~status ~~Nasdaq~~as ~~Global~~defined ~~Select~~in ~~Market. In~~section ~~accordance with Marketplace Rule 5810~~208.43(cb)(34)~~(A),~~ ~~the Company will be provided 180 calendar days, or until March 7, 2011, to regain compliance. If at any time before March 7, 2011 the bid price~~ of ~~the~~Regulation ~~Company’s~~H ~~common stock closes at $1.00 per share or more for a minimum~~ of ~~ten consecutive business days, written notification will be sent stating that~~ the ~~Company~~Federal ~~has~~Reserve ~~achieved compliance with the Bid Price Rule. If compliance with the Bid Price Rule cannot be demonstrated by March 7~~Board, ~~2011, then Nasdaq will notify the Company that its common stock is subject to delisting from The Nasdaq Global Select Market. Alternatively, the Company may be eligible~~ for anpurposes ~~additional~~of ~~compliance~~section ~~period~~38 ~~if it meets the initial listing standards, with the exception~~ of the ~~bid~~Federal ~~price,~~Deposit ~~for~~Insurance ~~The Nasdaq Capital Market. To avail itself of this alternative~~Act, ~~the~~as ~~Company~~amended ~~would need to submit an application to transfer its securities to The Nasdaq Capital Market. The Company is currently evaluating its alternatives to resolve~~ (the ~~listing~~“FDI ~~deficiency~~Act”).

~~Item~~The ~~5.02.~~Directive ~~Departure~~acknowledges ofthat ~~Directors~~the orBank ~~Certain~~submitted ~~Officers;~~a ~~Election~~capital ofrestoration ~~Directors;~~plan, ~~Appointment~~dated ofOctober ~~Certain~~29, ~~Officers;~~2010, ~~Compensatory~~which ~~Arrangements~~the Federal Reserve Board deemed acceptable pursuant to section 38(e)(2) of ~~Certain~~the ~~Officers~~FDI Act.

OnThe ~~September~~Directive ~~10,~~requires ~~2010,~~that ~~Michael~~within H.90 ~~Godwin~~days ~~and~~of ~~John~~the E.effective ~~Mansfield,~~date ~~Jr.~~of ~~resigned~~the ~~from~~Directive or such additional time as the Federal Reserve Board ofmay ~~Directors~~permit, ofthe Bank, in conjunction with the Company ~~and~~must ~~its~~(1) ~~wholly~~increase ~~owned~~the ~~subsidiary,~~Bank’s ~~The~~equity ~~Park~~in ~~Avenue~~an ~~Bank~~amount (sufficient to make the “Bank “adequately capitalized” as defined in section 208.432(b)(2) of Regulation H; (2) enter into and close a contract to be acquired by a depository institution holding company or combine with another insured depository institution; or (3) take other necessary measures to make the Bank “adequately capitalized.”

~~Mr.~~The ~~Godwin~~Directive ~~did~~also ~~not~~(1) ~~have~~restricts ~~any~~the ~~disagreements~~Bank ~~with~~from ~~the~~making ~~Company~~any ~~and~~capital ~~the Bank~~distribution, ~~and~~including ~~cited~~the ~~personal~~payment ~~obligations~~of asdividends; ~~his~~and ~~reason~~(2) ~~for~~requires ~~resignation. Mr.~~prior ~~Godwin~~written ~~served~~approval asfrom athe ~~member~~Federal Reserve Bank of Atlanta (the ~~Company’s~~“Reserve Bank”) and ~~the~~fulfillment ~~Bank’s~~of ~~Board~~one of ~~Directors~~the ~~since~~requirements ~~2002~~above, for the ~~Company’s~~Bank ~~Nominating~~to solicit and ~~Governance~~accept ~~Committee~~new ~~from~~deposit ~~March~~accounts ~~2004~~or torenew ~~February~~any ~~2005~~time ~~when~~deposit itbearing ~~was~~an ~~dissolved,~~interest rate that exceeds the ~~Company’s~~prevailing effective rates on deposits of comparable amounts and maturities in the Bank’s ~~Executive~~market ~~Committee~~area. Within ~~since~~30 ~~its~~days ~~inception~~of inthe ~~2008~~effective date of the Directive, the ~~Company’s~~Bank ~~Nominating~~must ~~Committee~~submit ~~since~~an ~~February~~acceptable ~~2005,~~plan and timetable to the Reserve Bank’s ~~Loan~~for ~~Committee~~conforming ~~since~~the ~~January~~rates ~~2003~~of ~~and~~interest aspaid ~~Chairman~~on ofall existing non-time deposit accounts to the ~~Company’s~~prevailing ~~Compensation~~effective ~~Committee~~rates ~~since~~on ~~March~~deposits ~~2005~~of comparable amounts in the Bank’s market area.

~~Mr.~~The ~~Mansfield~~Directive ~~did~~continues ~~not~~to ~~have~~requires ~~any disagreements with~~ the Company ~~and~~to ~~the~~comply ~~Bank,~~with ~~and~~the ~~cited~~provisions ~~personal~~in ~~obligations~~the asFederal ~~his~~Reserve ~~reason~~Act ~~for~~regarding ~~resignation. Mr.~~affiliate ~~Mansfield~~transactions ~~served~~and asthe aprovision ~~member~~ of the ~~Company’s~~FDI ~~and~~Act ~~the~~restricting ~~Bank’s~~compensation ~~Board~~ of ~~Directors~~certain ~~since~~executive ~~January~~officers ~~2005,~~and ~~the~~restricting ~~Company’s~~asset ~~Compensation Committee since March 2005~~growth, acquisitions and ~~the Bank’s Loan Committee since January 2005~~branching.

The Reserve Bank may, in its sole discretion, grant written extensions of time to the Bank to comply with any provision of the Directive.

The Bank’s deposits continue to be insured by the FDIC to the maximum limits allowed by law.

Item 9.01. Financial Statements and Exhibits.

(c)

Exhibits:

10.1

Prompt Corrective Action Directive executed December 13, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PAB BANKSHARES, INC.
	(Registrant)
Date: September 14, 2010	/s/ Nicole S. Stokes
	(Signature)
	Nicole S. Stokes,
	Executive Vice President and
	Chief Financial Officer

PAB BANKSHARES, INC.

(Registrant)

Date: December 16, 2010 /s/ Nicole S. Stokes

(Signature)

Nicole S. Stokes,

Executive Vice President and

Chief Financial Officer

EXHIBIT INDEX

Number

Description

10.1

Prompt Corrective Action Directive executed December 13, 2010.

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