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): May 14, 2012

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
(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:

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

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

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

o 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 May 14, 2012, The National Security Group, Inc. issued a press release announcing its financial results for the quarter ended March 31, 2012. 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 May 14, 2012, 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.
Date May 14, 2012	By: /s/ Brian R. McLeod
	Brian R. McLeod Chief Financial Officer

EX-99.1

Exhibit 99.1

661 East Davis Street

Post Office Box 703

Elba, Alabama 36323

PRESS RELEASE

FOR IMMEDIATE RELEASE

For Additional Information: Contact Brian McLeod - Chief Financial Officer @ (334) 897-2273.

The National Security Group, Inc. Releases Earnings

ELBA, ALABAMA (May 14, 2012)…Results for the three months ended March 31, 2012 and 2011, based on accounting principles generally accepted in the United States of America, were reported today as follows:

	Three months ended March 31,
	2012		2011
Premium Earned	$	13,496,000	$	14,870,000
Investment Income	1,135,000		1,142,000
Realized Investment Gains	206,000		770,000
Other Income	197,000		255,000
Total Revenues	$	15,034,000	$	17,037,000
Net Income	$	531,000	$	995,000
Net Income Per Share	$	0.22	$	0.40

The Company ended the first quarter of 2012 with net income of $531,000 compared to net income of $995,000 for the same period last year; a decrease of 46.6%. For the three-months ended March 31, 2012, the Company had net income per share of $0.22 compared to net income per share of $0.40 for the three-months ended March 31, 2011. The primary reasons for the $464,000 decrease in net income in the current year compared to the prior year were a 73.3% decrease in net realized investment gains in addition to a 20.1% increase in general expenses. The decrease in realized investment gains was primarily associated with a decline in trading activity in the investment portfolios. The increase in general expenses was primarily due to litigation expenses incurred at the holding company level, which further reduced net income in 2012 compared to 2011.

Consolidated premium revenue was $13,496,000 for the quarter-ended March 31, 2012 compared to $14,870,000 for the same period last year; a decrease of $1,374,000 or 9.2%. In late 2011, we made the decision to exit all automobile lines of business due to a lack of underwriting profitability in these programs. Also impacting premium revenue were tightened underwriting guidelines in several states in the homeowners line of business.

Shareholders’ equity as of March 31, 2012 was $38,661,000, up $646,000 compared to $38,015,000 as of December 31, 2011. Book value per share increased $0.26 per share for the period ended March 31, 2012 to $15.67 per share compared to $15.41 per share at December 31, 2011.

The National Security Group, Inc. (NASDAQ Symbol: NSEC), through its property & casualty and life insurance subsidiaries, offers property, casualty, life, accident and health insurance in twelve states. The Company writes primarily personal lines property coverage including dwelling fire and windstorm, homeowners, mobile homeowners and personal non-standard automobile lines of insurance. The Company also offers life, accident and health, supplemental hospital and cancer insurance products. The Company was founded in 1947 and is based in Elba, Alabama.