8-K

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): March 31, 2011

THE NATIONAL SECURITY GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-18649		63-1020300
(State or other jurisdiction of incorporation)	(Commission File Number)		(IRS Employer Identification No.)
661 East Davis Street
Elba, Alabama 36323			36323
(Address of principal executive offices)			(Zip Code)
Registrant’s telephone number, including area code:		(334) 897-2273
N/A
(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:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure

In accordance with Securities and Exchange Commission Release No. 33-8216, the following information is furnished to the Securities and Exchange Commission pursuant to Item 12, “Disclosure of Results of Operations and Financial Condition.” This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On March 31, 2011, The National Security Group, Inc. issued a press release announcing its financial results for the year ended December 31, 2010.  A copy of this press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description of Document
99.1	Press release, dated March 31, 2011 issued by The National Security Group, Inc.

SIGNATURE

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 hereunto duly authorized.

	The National Security Group, Inc.
Dated: March 31, 2011	By:  /s/ Brian R. McLeod
	Brian R. McLeod Chief Financial Officer

EX-99.1 CHARTER

 Exhibit      99.1

The National Security Group, Inc.

661 East Davis Street

Post Office Box 703

Elba, Alabama 36323

PRESS RELEASE

FOR IMMEDIATE RELEASE

The National Security Group, Inc. Releases Earnings

Elba, Alabama (March 31, 2010)—The National Security Group, Inc. (NASDAQ: NSEC) today announced its financial results for the year ended December 31, 2010.  Total revenues for the year increased 5.1% to $69,392,000 compared to $66,004,000 for 2009.  Earned premium increases in the P&C segment as well as the increase in net realized investment gains were the primary contributing factors to the increase in total revenue for 2010 over 2009.

Net income for the year ended December 31, 2010 was $3,265,000, or $1.32 per share, compared to net income of $4,224,000, or $1.71 per share, for 2009.  An increase in policyholder benefits was the primary factor contributing to the decrease in net income.  Increased accident and health claims in the Life Segment contributed approximately one percentage point to the increase while increased homeowners and auto claims in the P&C segment account for most of the remaining increase.

Stockholders equity for the year ended December 31, 2010 was $43,710,000 compared to $41,168,000 at December 31, 2009, an increase of $2,542,000 or 6.2%.  The change in stockholders equity is composed of dividends paid to shareholders of $1,480,000; net income of $3,265,000 and an increase in accumulated other comprehensive income due to recoveries in investment portfolio market values of $757,000.  Yearend book value per share, defined as stockholders equity divided by common shares outstanding of 2,466,600, was $17.72 at December 31, 2010 compared to $16.69 at December 31, 2009.

A summary of income statement information follows:

	Year
	Ended December 31
	2010		2009
Premium Earned	$	61,263,000	$	59,594,000
Investment Income		5,089,000		5,289,000
Realized Investment Gains (Losses)		1,879,000		357,000
Other Income		1,161,000		764,000
Total Revenues		69,392,000		66,004,000
Net Income	$	3,265,000	$	4,224,000
Net Income Per Share	$	1.32	$	1.71

The National Security Group, Inc., is a regional insurance holding company with three wholly owned subsidiaries, offering a range of personal lines life, accident and health, property and liability insurance in twelve states.  The Company is listed on the NASDAQ Global Market under the symbol: NSEC. For more financial information, please visit the investor section of our website www.nationalsecuritygroup.com.

        Contact:         Brian McLeod, CFO & Treasurer

The National Security Group, Inc.

P.O. Box 703

Elba, Alabama 36323