K:\FIR129\BC\10Q.DOC (Linda Elrod)


                         UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON D.C.  20549

                           FORM 10-QSB

    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
                SECURITIES EXCHANGE ACT OF 1934

           For the Quarterly Period Ended December 31, 2000



                Commission File Number: 333-12373




               Southern Community Bancshares, Inc.
      (Exact name of registrant as specified in its charter)



          Delaware                            63-1176408
(State or other jurisdiction               (I.R.S. Employer
    of incorporation or                     Identification No.)
       organization)

    325 2nd Street, S.E.
      Cullman, Alabama                           35055
    (Address of principal                     (Zip Code)
     executive offices)


Registrant's telephone number,         (256) 734-4863
including area code:


Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.


                Yes    X            No


Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable
date.


            Class                        Outstanding at February
                                                12, 2001
Common Stock, $.01 par value                898,515 shares




                  SOUTHERN COMMUNITY BANCSHARES, INC.





                  PART I.    FINANCIAL INFORMATION

                                                                Page

ITEM 1.     FINANCIAL STATEMENTS:

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION AS OF   2
   DECEMBER 31,2000(UNAUDITED) AND SEPTEMBER 30, 2000

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)          3
  FOR THE THREE MONTHS ENDED DECEMBER 31,2000 AND 1999

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)      4
  FOR THE THREE MONTHS ENDED DECEMBER 31, 2000 AND 1999

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS             5

THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FURNISHED HAVE
NOT BEEN AUDITED BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS,
BUT REFLECT, IN THE OPINION OF MANAGEMENT, ALL ADJUSTMENTS
NECESSARY FOR A FAIR PRESENTATION OF FINANCIAL CONDITION AND
THE RESULTS OF OPERATIONS FOR THE PERIODS PRESENTED

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL    8
  CONDITION AND RESULTS OF OPERATIONS



                PART II.    OTHER INFORMATION

OTHER INFORMATION                                                9

SIGNATURES                                                      10




                  SOUTHERN COMMUNITY BANCSHARES, INC.


       CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

                       (DOLLARS IN THOUSANDS)



                                ASSETS

                                              December 31,    September 30,
                                                   2000            2000
                                                (unaudited)

CASH AND CASH EQUIVALENTS                         $ 7,449        $  2,604

SECURITIES AVAILABLE FOR SALE, at fair value        8,467          10,545

SECURITIES HELD TO MATURITY, fair values of
$194 and $204, respectively                           192             202

LOANS RECEIVABLE, net                              48,703          49,211

PREMISES AND EQUIPMENT                                687             685

OTHER ASSETS                                        1,162             965

       Total assets                               $66,660         $64,212



                LIABILITIES AND STOCKHOLDERS' EQUITY

DEPOSITS                                          $56,085         $55,231

BORROWED FUNDS                                      1,000               0

OTHER LIABILITIES                                     518             258

       Total liabilities                           57,603          55,489

STOCKHOLDERS' EQUITY:
Preferred stock, par $.01, no shares issued,            0               0
  100,000 authorized
Common stock, par $.01 per share, 1,137,350
  issued, 3,000,000 authorized                         11              11
Additional paid-in capital                         10,829          10,829
Retained earnings                                   3,532           3,430
Treasury Stock                                     (1,945)         (1,937)
Accumulated other comprehensive income(loss)            5             (55)
Unearned compensation                              (3,375)         (3,555)

      Total stockholders' equity                    9,057           8,723
      Total liabilities and stockholders' equity  $66,660         $64,212




  The accompanying notes are an integral part of these balance sheets.


                  SOUTHERN COMMUNITY BANCSHARES, INC.

              CONDENSED CONSOLIDATED STATEMENTS OF INCOME

           (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)



                                                     Three Months Ended
                                                         December 31,
                                                        2000      1999
                                                         (unaudited)

INTEREST INCOME:
  Interest and fees on loans                          $1,057     $  933
  Interest and dividends on
    securities                                           112        178
  Other interest income                                   60         36

     Total interest income                             1,229      1,147

INTEREST EXPENSE:
  Interest on deposits                                   579        520
  Interest on borrowed funds                               3          0
     Total interest expense                              582        520
     Net interest income                                 647        627

PROVISION FOR LOAN LOSSES                                  0          0
     Net interest income after
       provision for loan losses                         647        627

NONINTEREST INCOME:
  Customer service fees                                   75         43
     Total noninterest income                             75         43
NONINTEREST EXPENSE:
  Compensation and benefits                              301        268
  Occupancy and equipment                                 38         24
  Professional fees                                       25         22
  Other                                                   94        113
     Total noninterest expense                           458        427
     Income before income taxes                          264        243

PROVISION FOR INCOME TAXES                                81         92
NET INCOME                                               183        151

BASIC EARNINGS PER SHARE                                $.26       $.21

DILUTED EARNINGS PER SHARE                              $.24       $.20
DIVIDEND DECLARED PER SHARE                           $.0825     $.0825


   The accompanying notes are an integral part of these statements.



                SOUTHERN COMMUNITY BANCSHARES, INC.


          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                     (DOLLARS IN THOUSANDS)



<TABLE>
                                                 Three Months Ended
                                                    December 31,
                                                   2000      1999
                                                    (Unaudited)
<S>                                                 <C>     <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                       $  183   $  151

  Adjustments to reconcile net income to net cash
    provided by operating activities:
     Depreciation                                      22       16
     Amortization and accretion on securities           0       14
     Amortization of unearned compensation            180       79
     Change in assets and liabilities:
        Other assets                                 (197)     (31)
        Other liabilities                             260      (68)
         Total adjustments                            265       10
         Net cash provided by operating activities    448      161

CASH FLOWS FROM INVESTING ACTIVITIES:
  Proceeds from maturities/calls of securities,
    available for sale                              2,139      275
  Proceeds from maturities/calls of securities,
    held to maturity                                   10        0
  Purchases of securities, available for sale           0     (500)
  Net loan (originations) repayments                  507   (1,215)
  Capital expenditures                               ( 24)    ( 32)
        Net cash provided by (used in)
            investing activities                    2,632   (1,472)

CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase in deposits                                854    1,461
  Proceeds from borrowed funds                      1,000    1,000
  Purchase of treasury stock                           (8)     (30)
  Dividends paid                                      (81)     (83)
        Net cash provided by financing activities   1,765    2,348
NET INCREASE IN CASH AND CASH EQUIVALENTS           4,845    1,037
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD    2,604    4,118
CASH AND CASH EQUIVALENTS AT END OF PERIOD         $7,449   $5,155




   The accompanying notes are an integral part of these statements.


                  SOUTHERN COMMUNITY BANCSHARES, INC.


         NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS



  1.BASIS OF PRESENTATION

   Southern Community Bancshares, Inc. (the "Company") was
   incorporated in the State of Delaware at the direction of
   management of First Federal Savings and Loan Association of
   Cullman (the "Association") for the purpose of serving as a
   savings institution holding company of the Association upon the
   acquisition of all of the capital stock issued by the Association
   upon the conversion from a federally chartered mutual savings
   association form of organization to a federally chartered stock
   savings association (the "Conversion").  The Conversion occurred on
   December 23, 1996.

   The accompanying unaudited condensed consolidated financial
   statements as of December 31, 2000 and September 30, 2000,
   and for the three-month periods ended December 31, 2000 and 1999
   include the accounts of the Company and the Association.
   All significant intercompany transactions and accounts have been
   eliminated in consolidation.

   The condensed consolidated financial statements were prepared by
   the Company without an audit, but in the opinion of management,
   reflect all adjustments necessary for the fair presentation of
   financial position and results of operations for the three-month
   periods ended December 31, 2000 and 1999.  Results of
   operations for the current interim period are not necessarily
   indicative of results expected for the fiscal year ended
   September 30, 2001.  While certain information and footnote
   disclosures normally included in financial statements prepared in
   accordance with generally accepted accounting principles have been
   condensed or omitted pursuant to the rules and regulations of the
   Securities and Exchange Commission, management believes that the
   disclosures herein are adequate to make the information presented not
   misleading.  These condensed consolidated financial statements
   should be read in conjunction with the financial statements and
   notes thereto for the year ended September 30, 2000.  The
   accounting policies followed by the Company are set forth in
   the summary of significant accounting policies in the
   Company's September 30, 2000 financial statements.


  2.EARNINGS PER SHARE

   Basic earnings per share were computed by dividing net income by
   the weighted average number of shares of common stock outstanding during
   the three-month periods ended December 31, 2000 and 1999.
   Common Stock outstanding consists of issued shares less unallocated
   ESOP shares, treasury shares, and shares owned by the MRP and SOP
   plan trust.

   The following table represents the earnings per share calculations
   for the three months ended December 31, 2000 and 1999:


                                                           Per Share
     For the Three Months Ended      Income     Shares       Amount

   December 31, 2000:
     Net income                    $183,000
     Basic earnings per share:
       Income available to common
         shareholders               183,000     705,745        $.26
     Dilutive securities                  0      43,797           0
     Diluted earnings per share    $183,000     749,542        $.24

   December 31, 1999:
     Net income                    $151,000
     Basic earnings per share:
       Income available to common
         shareholders               151,000     728,644        $.21
     Dilutive securities                  0      43,797           0
     Diluted earnings per share    $151,000     772,441        $.20






3. COMPREHENSIVE INCOME

   Comprehensive income is a measure of all nonowner changes in equity
   of an enterprise that result from transactions and other economic
   events of the period.  Accordingly, the change in unrealized gain/
   loss on securities available for sale serves to increase or decrease
   comprehensive income.  The following table represents comprehensive
   income for the three month periods ended December 31, 2000 and
   1999:

                                               Three Months
                                                   Ended
                                                December 31,
                                                2000    1999


    Net income                                  $183    $151
    Accumulated other comprehensive
       income (loss) net of tax:
         Unrealized gain (loss)
           on securities                          60    (43)
    Comprehensive income (loss)                 $243   $108



4. PENDING ACCOUNTING PRONOUNCEMENTS

   In June 1998, the Financial Accounting Standards Board ("FASB")
   issued SFAS No. 133, Accounting for Derivative Instruments and Hedging
   Activities.  This Statement establishes accounting and reporting
   standards for derivative instruments embedded in other contracts
   (collectively referred to as derivatives) and for hedging activities.
   It requires that an entity recognize all derivatives as either assets
   or liablities in the balance sheet and measure those instruments at
   fair value.  Under certain conditions, a derivative may be specifically
   designated as a hedge.  Accounting for changes in fair values of
   derivatives will depend on their designation.  In June 1999, the FASB
   issued SFAS No. 137, Accounting for Derivative Instruments and Hedging
   Activities--Deferral of the Effective Date of FASB No. 133.  This
   Statement amends the effective date of SFAS No. 133, which will now
   be effective for all fiscal quarters of all fiscal years beginning after
   June 15, 2000.  In June 2000, the FASB issued SFAS No. 138, Accounting
   for Certain Derivative Instruments and Certain Hedging Activities--An
   Amendment to FASB Statement No. 133.  This Statement addresses a limited
   number of issues causing implementation difficulties for numerous
   entities that apply SFAS 133, and amends the accounting and reporting
   standards of SFAS 133 for certain derivative instruments and certain
   hedging activities.  The Company adopted SFAS 133 on October 1, 2000
   with no material impact on the Company's financial position and results
   of operations.




Item 2.   Management's Discussion and Analysis or Plan of Operations

      On December 23, 1996, the Company completed the sale of
1,137,350 shares of its common stock in an initial public offering at
a price of $10.00 per share and simultaneously acquired the shares of
common stock of the Association in connection with the mutual to stock
conversion.  Costs associated with the offering were approximately
$750,000.  Prior to December 23, 1996, the Company had not issued any
stock, had no assets or liabilities and had not engaged in any
business activities other than of an organizational nature.

      Comparison of Financial Condition at December 31, 2000 and
September 30, 2000.  Total assets increased by $2,448,000 or 3.8%.
Liabilities increased by $2,114,000 or 3.8%.

      Comparison of Results of Operations for the Three Months Ended
December 31, 2000 and 1999.  The Company reported net income for the
three months ended December 31, 2000 of $183,000 as compared to $151,000
for the three months ended December 31, 1999.

      Net Interest Income.  Net interest income for the three months
ended December 31, 2000 amounted to $647,000 as compared to $627,000
for the three months ended December 31, 1999.  Net interest income
after provision for loan losses increased $20,000 or 3.2%, during the
three months ended December 31, 2000 as compared to the prior year period.
This increase resulted primarily from an increase in the average balance
of interest earning assets during the three months ended December 31, 2000
as compared to the prior year period.

      Provision for Loan Losses.  Provisions for loan losses are made
to maintain the allowance for loan losses at an adequate level.  The
allowance for loan losses reflects management's estimates which took
into account historical experience, the amount of non-performing assets,
and general economic conditions.  No provision for loan losses was made
for either of the quarters ended December 31, 2000 or 1999.

      Noninterest Income.  Noninterest income for the three months ended
December 31, 2000 amounted to $75,000, or a 73.0% increase over the prior
year period amount.  This increase resulted primarily from a change in the
Association's customer service fee assessment methods in fiscal 2000.

      Noninterest Expense.  Noninterest expense for the three months ended
December 31, 2000 amounted to $458,000 as compared to $427,000 in the
three months ended December 31, 1999.  The $31,000, or 7.3%, increase is
primarily due to an increase in compensation and benefits.

      Provision for Income Taxes.  Income tax expense for the three months
ended December 31, 2000 decreased by $11,000 to $81,000 as compared to income
tax expense of $92,000 for the three months ended December 31, 1999.

      Capital Resources.  The Association's primary sources of funds
are customer deposits, repayments of loan principal, and interest from
loans and investments.  While scheduled principal repayments on loans
and mortgage-backed securities are a relatively predictable source of
funds, deposit flows, and loan prepayments are greatly influenced by
general interest rates, economic conditions, and competition.  The
Association manages the pricing of its deposits to maintain a desired
deposit balance.  In addition, the Association invests in short-term
interest-earning assets which provide liquidity to meet lending
requirements.

     The Association is required to maintain certain levels of
regulatory capital.  At December 31, 2000 and September 30, 2000, the
Company and the Association were in compliance with all regulatory
capital requirements.



                     PART II.    OTHER INFORMATION




Item 1.  Legal Proceedings

From time to time, the Company and subsidiary may be a party to
various legal proceedings incident to its or their business.  At
December 31, 2000, there were no legal proceedings to which the
Company or subsidiary was a party, or to which any of their
property was subject, which were expected by management to result in a
material loss.


Item 2.  Changes in Securities

     None


Item 3.  Defaults Upon Senior Securities

     None


Item 4.  Submission of Matters to a Vote of Security Holders

     None


Item 5.  Other Information

     Not applicable


Item 6.  Exhibits and Reports on Form 8-K

     On December 20, 2000, the Company filed Form 8-K disclosing that
     it had filed Form 15 (dated December 20, 2000) to effect a termination
     of registration of its common stock under the Securities and Exchange
     Act of 1934.



                              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 thereunto duly authorized.


                                 SOUTHERN COMMUNITY BANCSHARES, INC.





Date:   February 15, 2000       _____________________________________
                                William R. Faulk
                                President and Chief Executive Officer



Date:   February 15, 2000       _____________________________________
                                Beth B. Knight
                                Secretary and Treasurer



</TABLE>