SC 13G 1 schedule_13g-020703.txt CUSIP NO. 176682 10 2 Page 1 of 5 Pages SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (___________)* Citizens South Banking Corporation (Name of Issuer) Common Stock, $.01 par value per share --------------------------------------------------- (Title of Class of Securities) 176682 10 2 ------------------ (CUSIP Number) December 31, 2002 (Date of Event Which Requires Filing of This Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |X| Rule 13d-1(b) |_| Rule 13d-1(c) |_| Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 5 Pages CUSIP NO. 176682 10 2 Page 2 of 5 Pages 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON(ENTITIES ONLY) Citizens South Bank Employee Stock Ownership Plan and Trust 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X| 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Federally chartered stock savings institution's employee benefit plan organized in North Carolina NUMBER OF 5 SOLE VOTING POWER SHARES 312,969 BENEFICIALLY OWNED BY 6 SHARED VOTING POWER EACH 147,765 REPORTING PERSON WITH 7 SOLE DISPOSITIVE POWER 460,734 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 460,734 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.1% of 9,062,752 shares of Common Stock outstanding as of December 31, 2002. 12 TYPE IN REPORTING PERSON* EP ======= ================= CUSIP NO. 176682 10 2 Page 3 of 5 Pages Item 1(a). Name of Issuer: Citizens South Banking Corporation Item 1(b) Address of Issuer's Principal Executive Offices: 245 West Main Avenue Gastonia, North Carolina 28052 Item 2(a). Name of Person Filing: Citizens South Bank Employee Stock Ownership Plan and Trust Trustee: First Bankers Trust Company, N.A. Item 2(b). Address of Principal Business Office: 1201 Broadway Quincy, Illinois 62301-3566 Item 2(c). Citizenship or Place of Organization: Federally chartered stock savings institution's employee benefit plan organized in North Carolina Item 2(d). Title of Class of Securities: Common Stock, par value $.01 per share Item 2(e). CUSIP Number: 176682 10 2 Item 3. If this Statement is Filed Pursuant To Rule 13d-1(b) or 13d-2(b), or (c), Check Whether the Person Filing is a: (f) |X| This person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974; see 13d-1(b)(1)(ii)(F). Item 4. Ownership: Based on information available to the Employee Benefit Plan as of December 31, 2002, the reporting person beneficially owned 460,734 shares of the Issuer. This number of shares represents 5.1% of the CUSIP NO. 176682 10 2 Page 4 of 5 Pages common stock, par value $.01 per shares, of the Issuer, based upon 9,062,752 shares of such common stock outstanding as of December 31, 2002. As of December 31, 2002, the reporting person has sole power to vote or to direct the vote of 312,969 shares and the shared power to vote or direct the vote of 147,765 shares. The reporting person has sole power to dispose or to direct the disposition of 460,734 shares of common stock. Item 5. Ownership of Five Percent or Less of a Class: Not applicable Item 6. Ownership of More Than Five Percent on Behalf of Another Person: Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company: Not applicable Item 8. Identification and Classification of Members of the Group: The reporting person is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974. Item 9. Notice of Dissolution of Group: Not applicable Item 10. Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. CUSIP NO. 176682 10 2 Page 5 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 7, 2003 CITIZENS SOUTH BANK EMPLOYEE STOCK OWNERSHIP PLAN TRUST By: First Bankers Trust Company, N.A., Trustee /s/ Linda Shultz ----------------------------------------- Linda Shultz Title: Trust Officer