<TABLE> <S> <C>


<ARTICLE>                                            9
<LEGEND>
     CAROLINA FIRST BANCSHARES
</LEGEND>
<CIK>                         0000846465
<NAME>                        CAROLINA FIRST BANCSHARES
<MULTIPLIER>                                   1,000
<CURRENCY>                                     US DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              DEC-31-1998
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   DEC-31-1998
<EXCHANGE-RATE>                                1
<CASH>                                         28,611,146
<INT-BEARING-DEPOSITS>                         777,346
<FED-FUNDS-SOLD>                               13,220,957
<TRADING-ASSETS>                               0
<INVESTMENTS-HELD-FOR-SALE>                    154,384,075
<INVESTMENTS-CARRYING>                         33,306,113
<INVESTMENTS-MARKET>                           33,609,910
<LOANS>                                        476,109,833
<ALLOWANCE>                                    6,723,516
<TOTAL-ASSETS>                                 731,626,244
<DEPOSITS>                                     652,602,570
<SHORT-TERM>                                   10,399,634
<LIABILITIES-OTHER>                            6,646,309
<LONG-TERM>                                    0
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       13,491,840
<OTHER-SE>                                     48,485,891
<TOTAL-LIABILITIES-AND-EQUITY>                 731,626,244
<INTEREST-LOAN>                                40,848,120
<INTEREST-INVEST>                              9,884,618
<INTEREST-OTHER>                               1,319,095
<INTEREST-TOTAL>                               52,051,833
<INTEREST-DEPOSIT>                             21,571,800
<INTEREST-EXPENSE>                             498,934
<INTEREST-INCOME-NET>                          8,048,374
<LOAN-LOSSES>                                  1,365,000
<SECURITIES-GAINS>                             267,304
<EXPENSE-OTHER>                                25,855,101
<INCOME-PRETAX>                                10,809,372
<INCOME-PRE-EXTRAORDINARY>                     10,809,372
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   6,708,929
<EPS-PRIMARY>                                  1.25
<EPS-DILUTED>                                  1.22
<YIELD-ACTUAL>                                 4.89
<LOANS-NON>                                    1,432
<LOANS-PAST>                                   111
<LOANS-TROUBLED>                               0
<LOANS-PROBLEM>                                0
<ALLOWANCE-OPEN>                               5,837
<CHARGE-OFFS>                                  680
<RECOVERIES>                                   202
<ALLOWANCE-CLOSE>                              6,724
<ALLOWANCE-DOMESTIC>                           6,724
<ALLOWANCE-FOREIGN>                            0
<ALLOWANCE-UNALLOCATED>                        0
        


</TABLE>