SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.


                                   FORM 10-QSB

[ X ]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
       EXCHANGE ACT OF 1934 FOR THE QUARTER ENDED MARCH 31, 2001

                                                                  OR

[    ]  TRANSITION REPORT PURSUANT TO SECTION 13 OT 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ________________
        TO _______________.

                         FDIC Certificate Number 26588-8


                       DARLINGTON COUNTY BANCSHARES, INC.
             (Exact Name of Registrant as Specified in the Charter)


                   Incorporated in the State of South Carolina
                I.R.S. Employer Identification Number 57-0805621


                    202 Cashua Street, Darlington, S.C. 29532
                    (Address of Principal Executive Offices)


                                 (843) 395-1956
              (Registrant's Telephone Number, 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  periods  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. [ X ] Yes [ ] No

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


Common Stock - $.01 Par Value
158,000 Shares Outstanding on April 30, 2001


<PAGE>


                                     PART I
                              FINANCIAL INFORMATION

ITEM 1.  Financial Statements
-------
<TABLE>
<CAPTION>

                       DARLINGTON COUNTY BANCSHARES, INC.
                           CONSOLIDATED BALANCE SHEETS
                             (Dollars in thousands)


                                                                                           (Unaudited)        (Audited)
                                                                                             March 31,       December 31,
                                                                                               2001             2000
                                                                                        ----------------  ---------------
<S>                                                                                     <C>               <C>
ASSETS
   Cash and due from banks                                                              $          1,176  $         1,090
   Investment securities - held to maturity                                                          720              720
   Investment securities - available for sale                                                      4,673            4,662
   Other investments, at cost                                                                         50               50
   Federal funds sold                                                                              4,700            4,420

   Loans                                                                                          16,765           16,331
   Less allowance for loan losses                                                                   (250)            (252)
                                                                                        ----------------- ----------------
       Loans - net                                                                                16,515           16,079
   Premises and equipment - net                                                                      999              875
   Other assets                                                                                      592              574
                                                                                        ----------------- ---------------
       Total assets                                                                     $         29,425  $        28,470
                                                                                        ================= ===============

 LIABILITIES
   Deposits
     Demand deposits                                                                    $          4,776  $         4,788
     Savings and NOW accounts                                                                     10,369            9,246
     Time deposits $100,000 and over                                                               1,517            1,722
     Other time deposits                                                                           9,098            8,994
                                                                                        ----------------- ----------------
       Total deposits                                                                             25,760           24,750

   Other liabilities                                                                                 118              132
                                                                                        ----------------- ----------------
       Total liabilities                                                                          25,878           24,882
                                                                                        ----------------- ----------------

STOCKHOLDERS' EQUITY
   Common stock - $.01 par value authorized, issued and
     outstanding 158,000 shares at March 31, 2001 and
     December 31, 2000                                                                                 2                2
   Additional paid in capital                                                                      1,618            1,618
   Retained earnings                                                                               1,908            2,004
   Accumulated other comprehensive gain (loss)                                                        19              (36)
                                                                                        ----------------- ----------------
       Total stockholders' equity                                                                  3,547            3,588
                                                                                        ----------------- ----------------
       Total liabilities and stockholders' equity                                       $         29,425  $        28,470
                                                                                        ================= ================

                 See notes to consolidated financial statements.
</TABLE>

                                       -2-
<PAGE>
<TABLE>
<CAPTION>
                       DARLINGTON COUNTY BANCSHARES, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
                  (Dollars in thousands except per share data)
                                   (Unaudited)


                                                                                           Three months ended March 31,
                                                                                               2001             2000
                                                                                        ----------------  ---------------
<S>                                                                                     <C>               <C>
INTEREST INCOME
   Loans, including fees                                                                $            363  $           389
   Investment securities
     U. S. Government Agencies                                                                        72               80
     Municipal securities                                                                              8               11
     Other equity securities                                                                           1                1
   Federal funds sold and securities purchased
     under agreements to resell                                                                       61               43
                                                                                        ----------------  ---------------
       Total interest income                                                                         505              524
                                                                                        ----------------  ---------------
INTEREST EXPENSE
   Time deposits $100,000 and over                                                                    23               27
   Other deposits                                                                                    192              143
                                                                                        ----------------  ---------------
       Total interest expense                                                                        215              170
                                                                                        ----------------  ---------------
NET INTEREST INCOME                                                                                  290              354
PROVISION FOR LOAN LOSSES                                                                             15                9
                                                                                        ----------------  ---------------
       Net interest income after provision for loan losses                                           275              345
                                                                                        ----------------  ---------------
NONINTEREST INCOME
   Service charges on deposit accounts                                                                69               53
   Other service charges, commissions and fees                                                         5                5
                                                                                        ----------------  ---------------
       Total noninterest income                                                                       74               58
                                                                                        ----------------  ---------------
NONINTEREST EXPENSES
   Salaries and employee benefits                                                                    139              126
   Net occupancy                                                                                      17               20
   Furniture and equipment                                                                            14               16
   Other                                                                                              98               90
                                                                                        ----------------  ---------------
       Total noninterest expenses                                                                    268              252
                                                                                        ----------------  ---------------
   Income before income taxes                                                                         81              151
   Provision for income taxes                                                                         19               36
                                                                                        ----------------  ---------------
       Net income                                                                       $             62  $           115
                                                                                        ================  ===============

PER SHARE
   Average shares outstanding                                                                    158,000          158,000
                                                                                        ================  ===============
   Net income                                                                           $            .39  $          0.73
                                                                                        ================  ===============
   Dividends paid                                                                       $           1.00  $          0.80
                                                                                        ================  ===============
</TABLE>

                 See notes to consolidated financial statements.

                                       -3-
<PAGE>
<TABLE>
<CAPTION>
                       DARLINGTON COUNTY BANCSHARES, INC.
                 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
                             (Dollars in thousands)
                                   (Unaudited)


                                               Common stock                                       Accumulated
                                            ------------------                                   other compre-
                                            Number                Additional                       hensive
                                              of                    paid in      Retained           income
                                            shares     Amount       capital      earnings           (loss)         Total
                                            ------     ------     -----------    --------        ------------      -----

<S>                                         <C>      <C>          <C>         <C>              <C>            <C>
BALANCE, JANUARY 1, 2000                    158,000  $        2   $    1,618  $      1,787     $       (103)  $     3,304

Net income for period                             -           -            -           115                -           115

Comprehensive income, net of tax
   Net change in unrealized loss on
     securities available for sale                -           -            -             -              (44)          (44)
                                                                                               ------------   -----------
   Comprehensive income                                                                                                71
Cash dividend ($.80 per share)                    -           -            -          (127)               -          (127)
                                            -------  ----------   ----------  ------------     ------------   -----------

BALANCE, MARCH 31, 2000                     158,000  $        2   $    1,618  $      1,775     $       (147)  $     3,248
                                            =======  ==========   ==========  ============     ============   ===========

BALANCE, JANUARY 1, 2001                    158,000  $        2   $    1,618  $      2,004     $        (36)  $     3,588

Net income for period                             -           -            -            62                -            62

Comprehensive income, net of tax
   Net change in unrealized loss on
     securities available for sale                -           -            -             -               55            55
                                                                                               ------------   -----------
   Comprehensive income                                                                                               117
Cash dividend ($1.00 per share)                   -           -            -          (158)               -          (158)
                                            -------  ----------   ----------  ------------     ------------   -----------

BALANCE, MARCH 31, 2001                     158,000  $        2   $    1,618  $      1,908     $         19   $     3,547
                                            =======  ==========   ==========  ============     ============   ===========


</TABLE>








                 See notes to consolidated financial statements.

                                       -4-
<PAGE>
<TABLE>
<CAPTION>

                       DARLINGTON COUNTY BANCSHARES, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Dollars in thousands)
                                   (Unaudited)


                                                                                           Three months ended March 31,
                                                                                        ---------------------------------
                                                                                              2001              2000
                                                                                        ----------------  ---------------
<S>                                                                                     <C>               <C>
OPERATING ACTIVITIES
   Net income                                                                           $             62  $           115
   Adjustments to reconcile net income to net cash provided
     by operating activities
     Provision for loan losses                                                                        (2)               9
     Depreciation                                                                                     12               22
     Increase in accrued interest receivable                                                         (27)             (73)
     Decrease in other assets                                                                          9               91
     Decrease in other liabilities                                                                   (14)             (74)
                                                                                        ----------------  ---------------
         Net cash provided by operating activities                                                    40               90
                                                                                        ----------------  ---------------

INVESTING ACTIVITIES
   (Increase) decrease in Federal funds sold                                                        (280)            (240)
   Proceeds from maturities of investment securities
     available for sale                                                                               44              225
    Purchase of investment securities available for sale                                               -                -
   Net (increase) decrease in loan balances                                                         (434)             (38)
   Purchase of equipment                                                                            (136)             (10)
                                                                                        ----------------  ---------------
         Net cash used for investing activities                                                     (806)             (63)
                                                                                        ----------------  ---------------

FINANCING ACTIVITIES
   Net increase (decrease) in deposits                                                             1,010              (39)
   Cash dividends paid                                                                              (158)            (127)
                                                                                        ----------------  ---------------
         Net cash used for financing activities                                                      852             (166)
                                                                                        ----------------  ---------------
         Increase (decrease) in cash and cash equivalents                                             86             (139)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                                     1,090            1,409
                                                                                        ----------------  ---------------

CASH AND CASH EQUIVALENTS,  END OF PERIOD                                               $          1,176  $         1,270
                                                                                        ================  ===============


SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
   Increase (decrease) in net unrealized gains on securities available for sale         $             55  $           (44)
                                                                                        ================  ===============

</TABLE>







                 See notes to consolidated financial statements.

                                       -5-
<PAGE>

                       DARLINGTON COUNTY BANCSHARES, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 - BASIS OF PRESENTATION
------------------------------

     The  accompanying  unaudited  financial  statements  have been  prepared in
accordance with generally accepted  accounting  principles for interim financial
information  and  with the  instructions  to Form  10-QSB  and  item  310(b)  of
Regulation S-B of the Securities and Exchange Commission.  Accordingly,  they do
not  include all  information  and  footnotes  required  by  generally  accepted
accounting principles for complete financial statements. However, in the opinion
of management,  all  adjustments  (consisting of normal  recurring  adjustments)
considered necessary for a fair presentation have been included.

NOTE 2 - NET INCOME PER SHARE
-----------------------------

     Net  income  per share is  computed  on the basis of the  weighted  average
number of common shares  outstanding  in accordance  with Statement of Financial
Accounting  Standards No. 128,  "Earnings per Share". The Bank does not have any
instruments  which are dilutive;  therefore,  only basic net income per share of
common stock is presented.

ITEM 2.
-------

MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF  FINANCIAL  CONDITION  AND RESULTS OF
OPERATIONS

     The following  discussion and analysis  should be read in conjunction  with
the financial  statements and related notes  appearing in the 2000 Annual Report
of Darlington County Bancshares, Inc. Results of operations for the three months
ending  March 31,  2001 are not  necessarily  indicative  of the  results  to be
attained  for  any  other  period.   The  following   information   may  contain
forward-looking  statements that involve risks and uncertainties.  The Company's
actual  results  may  differ  materially  from  the  results  discussed  in  the
forward-looking statements.

RESULTS OF OPERATIONS
     The  Company's net income for the first quarter of 2001 wa s $62,00 or $.39
     per share as compared  to $115,000 or $.73 per share for the first  quarter
     of 2000. The Bank's net interest income  decreased  $45,000 compared to the
     first  quarter  of  2000.  This  decrease  is due  primarily  to a group of
     certificate  deposits with interest rates  averaging 6 percent,  which were
     issued during 2000. The majority of these certificate deposits are maturing
     are being  replaced with  instruments at rates  comparable with other rates
     in the geographic area.

NET INTEREST INCOME
     Net  interest  income is the  difference  between  the  interest  earned on
     earning  assets  and the  interest  paid for funds  acquired  to support to
     support  those assets.  Net interest  income,  the principal  source of the
     Bank's earnings, was $290,000 and $354,000 for the three months ended March
     31, 2001 and 2000, respectively.

     Changes  that affect net  interest  income are changes in the average  rate
     earned on  interest-earning  assets,  changes in the  average  rate paid on
     interest-bearing liabilities, and changes in the volume of interest-earning
     assets and interest-bearing liabilities.
                                                                     (Continued)
                                       -6-
<PAGE>
ITEM 2: (Continued)
-------------------

     Interest-earning  assets  for  the  first  quarter  of  2001  increased  by
     $2,187,000  or 8.8% over the same  period in 2000,  while  interest-bearing
     liabilities  increased by $1,865,000 or 7.8% comparing the first quarter of
     2001 with the first quarter of 2000.
<TABLE>
<CAPTION>

                                                              Average Balances, Income and Expenses, and Rates
                                                                       For the three months ended March 31,
                             --------------------------------------------------------------------------------------------
                                                   2000                                           1999
                             --------------------------------------------------------------------------------------------
                                Average            Income/    Annualized        Average           Income/     Annualized
                                 balance           expense     yield/rate        balance          expense      yield/rate
                             -------------     -------------  ------------   -------------     -------------  -----------
<S>                          <C>               <C>                  <C>      <C>               <C>            <C>
Federal funds sold           $   4,298,911     $      61,000        5.68%    $   2,862,857     $      43,000         6.01%
Investment securities            5,431,275            81,000        5.97%        6,130,894            92,000         6.00%
Loans                           16,601,175           363,000        8.75%       16,599,662           389,000         9.37%
                             -------------     -------------        -----    -------------     -------------         -----
     Total earning assets    $  26,331,361           505,000        7.67%    $  25,593,413           524,000         8.19%
                             =============                                   =============
     Total interest bearing
       liabilities           $  24,962,517           215,000        3.45%    $  24,874,120           170,000         2.73%
                             =============     -------------                 =============     -------------         -----
Net interest spread                                                 4.22%                                            5.46%
Net interest income/margin                     $     290,000        4.41%                      $     354,000         5.53%
                                               =============        =====                      =============         =====
</TABLE>

As  reflected  above,  for the first three  months of 2001 the average  yield on
earning   assets  amounts   amounted  to  7.67%,   while  the  average  cost  of
interest-bearing liabilities was 3.45%. For the same period of 2000, the average
yield on  earning  assets  was 8.19% and the  average  cost of  interest-bearing
liabilities  was  2.73%.  The  decrease  in  the  yield  on  earning  assets  is
attributable to a decrease in the yield on Federal Funds sold, and a decrease in
overall  interest  rates on  loans.  The net  interest  margin  is  computed  by
subtracting  interest  expense from  interest  income and dividing the resulting
figure by  average  interest-earning  assets.  The net  interest  margin for the
period ended March 31, 2001 was 4.41% and for 2000 was 5.53%.  This decrease was
the  result  of a  increase  in the  rate on  interest-bearing  deposits,  and a
decrease in the interest rates on earning assets.

During 2000,  the Bank offered  certificates  of deposits with yields average of
approximnately  6% in order to compete with other banks and maintain deposits at
their current level. The majority of these certificates of deposits have matured
and the Bank has lowered rates to be more  capatible  with other market rates in
its banking  industry.  It anticipates these rates impacted the overall yield in
the interest bearing liabilities.

The following  table  represents  changes in the  Company's net interest  income
which  are   primarily   a  result  of  changes  in  volume  and  rates  of  its
interest-earning  assets and interest-bearing  liabilities.  The decrease in net
interest  income is due to  decreased  volume of  earning  assets  and  interest
bearing  liabilities  and a  decrease  in rates on earning  assets and  interest
bearing liabilities.
<TABLE>
<CAPTION>
                                        Analysis of Changes in Net Interest Income
                                                                                      For the three months ended
                                                                                      March 31, 2001 versus 2000
                                                                         ------------------------------------------------
                                                                            Volume            Rate          Net change
                                                                         --------------   ------------    ---------------
<S>                                                                      <C>              <C>             <C>
Federal fund sold                                                        $      21,600    $    (3,600)    $        18,000
Investment securities                                                          (10,500)          (500)            (11,000)
Loans                                                                                -        (26,000)            (26,000)
                                                                         -------------    -----------     ---------------
       Total earning assets                                                    (11,100)        30,100             (19,000)
       Total interest on interest-bearing liabilities                             (600)       (44,400)            (45,000)
                                                                         -------------    -----------     ---------------
Net interest income                                                      $      10,500    $   (74,500)    $       (64,000)
                                                                         =============    ===========     ===============

</TABLE>

                                                                     (Continued)

                                       -7-
<PAGE>
ITEM 2: (Continued)
-------------------

NONINTEREST INCOME
     Noninterest income was $74,000 and $58,000 for the three months ended March
     31, 2001 and 2000.  Noninterest  income increased due to fees charged on an
     increased number of deposits.

NONINTEREST EXPENSES
     Noninterest  expenses  for the three  months  ended March 31, 2001 and 2000
     were $268,000 and $252,000,  respectively.  Noninterest  expenses increased
     slightly due to cost of living pay increases to employees.

     The allowance for loan losses was 1.49% of loans,  net of unearned  income,
     as of March  31,  2001  compared  to 1.54% as of  December  31,  2000.  The
     provision for loan losses was $15,000 and $9,000 for the three months ended
     March 31, 2001 and 2000,  respectively.  The 2000  provision  was  slightly
     higher  because the Bank had  $17,000  exchange  offs  during the  quarter.
     Management  reviews the adequacy of the  allowance on an ongoing  basis and
     believes it is adequate.

LIQUIDITY
     Liquidity  is the ability to meet  current and future  obligations  through
     liquidation  or  maturity  of  existing   assets  or  the   acquisition  of
     liabilities.  The Company  manages both assets and  liabilities  to achieve
     appropriate  levels of liquidity.  Cash and short-term  investments are the
     Company's primary sources of asset liquidity. These funds provide a cushion
     against short-term  fluctuations in cash flow from both deposits and loans.
     The investment  portfolio is the Bank's principal source of secondary asset
     liquidity.  However, the availability of this source of funds is influenced
     by market  conditions.  Individual and  commercial  deposits are the Bank's
     primary source of funds for credit activities. Management believes that the
     Company's liquidity sources are adequate to meet its operating needs.

LOANS
     Commercial,  financial  and  agricultural  loans made up 26.3% of the total
     loan portfolio as of March 31, 2001, totaling $4,400,000.  Loans secured by
     real estate for construction and land development  totaled $559,000 or 3.3%
     of the total loan  portfolio  while all other loans  secured by real estate
     totaled  $7,778,000  or 46.4% of the total loan  portfolio  as of March 31,
     2001.  Installment loans and other consumer loans to individuals  comprised
     24.0% of the total loan portfolio totaling $4,028,000.

CAPITAL RESOURCES
     The capital base for the Company  decreased by $40,000 for the three months
     of 2001.  This net change  includes an increase to equity for net income of
     $62,000 and unrealized gains on investment  securities of $55,000 offset by
     cash dividends of $158,000.  The Company's  equity to asset ratio was 12.1%
     on March 31, 2001, as compared to 11.9% on December 31, 2000. The Bank paid
     its annual dividend during the first quarter of 2001, and the Board reviews
     and approves dividends annually.

     The  Federal  Deposit  Insurance  Corporation  has  issued  guidelines  for
     risk-based capital requirements. As of March 31, 2001, the Bank exceeds the
     capital requirement levels that are to be maintained.
<TABLE>
<CAPTION>

                                                           Capital Ratios
                                                       (Amounts in Thousands)
                                                                                   Well                       Adequately
                                                                                Capitalized                   Capitalized
                                                          Actual                Requirement                   Requirement
                                           ---------------------------    --------------------------     ------------------------
                                                Amount         Ratio        Amount            Ratio        Amount         Ratio
                                           -----------        -------    -----------         ------      ----------       -----
<S>                                        <C>                <C>        <C>                 <C>         <C>              <C>
Total capital (to risk weighted
   assets)                                 $     3,778          22.0%     $     1,712          10.0%     $    1,370        8.0%
Tier 1 capital (to risk weighted
   assets)                                       3,528          20.6%           1,027          6.0%           685          4.0%
Tier 1 capital (to average assets)               3,528          12.3%           1,432          5.0%           1,146        4.0%

</TABLE>
                                                                     (Continued)
                                       -8-
<PAGE>

ASSET QUALITY
     Nonperforming  assets  as a  percentage  of loans and  foreclosed  property
     totaled  6.6%  and  5.8% as of  March  31,  2001  and  December  31,  2000,
     respectively.  Nonperforming assets increased to $1,111,000 as of March 31,
     2001 from $940,500 at December 31, 2000. The nonperforming  assets at March
     31, 2001 and  December 31, 2000  include a farm loan  totaling  $926,000 of
     which $740,000 is guaranteed by the US Government.

EFFECTS OF REGULATORY ACTION
     The  management of the Company is not aware of any current  recommendations
     by regulatory authorities, which if they were to be implemented, would have
     a material effect on liquidity, capital resources, or operations.

IMPACT OF INFLATION
     Unlike most industrial  companies,  the assets and liabilities of financial
     institutions such as the Bank are primarily monetary in nature.  Therefore,
     interest  rates have a more  significant  impact on the Bank's  performance
     than do the effects of changes in the general rate of inflation and changes
     in prices. In addition,  interest rates do not necessarily move in the same
     magnitude as the prices of goods and  services.  As  discussed  previously,
     management seeks to manage the  relationships  between  interest  sensitive
     assets and liabilities in order to protect against wide rate  fluctuations,
     including those resulting from inflation.

RECENTLY ISSUED ACCOUNTING STANDARDS
     Accounting  pronouncements  recently  issued  or  proposed  by the  Finance
     Accounting  Standards  Board are not expected to have a material  effect on
     the financial position of the Company.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings
-------------------------

There are no  material  pending  legal  proceedings  to which the Company or its
subsidiary party or of which any of their property is the subject.

Item 2.  Changes in Securities
------------------------------

Not Applicable

Item 3.  Defaults Upon Senior Securities
----------------------------------------

Not Applicable

Item 4.  Submission of matters to a vote of security holders
------------------------------------------------------------

There were no matters  submitted to security holders for a vote during the three
months ended March 31, 2001.

Item 5.  Other Information
--------------------------

None

Item 6. Exhibits and Report on Form 8-K
---------------------------------------

                                       -9-
<PAGE>

SIGNATURES


Under the requirements of the Securities Exchange Act of 1934, the Bank has duly
caused this report to be signed on its behalf by the undersigned  thereunto duly
authorized.




            DARLINGTON COUNTY BANCSHARES, INC.
---------------------------------------------------------
                    Name of Bank



By:  /s/ W. B. McCown, III                  Date:  May 15, 2001
     -------------------------------------
     W. B. McCown, III, President and
     Chief Executive Officer


By:  /s/ Albert L. James, III               Date:  May 15, 2001
     -------------------------------------
     Albert L. James, III Secretary and
     Treasurer (Principal Financial Officer)
































                                      -10-