UNITED STATES


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) July 16, 2010

First National Bancshares, Inc.
(Exact name of registrant as specified in its charter)

South Carolina
(State or other jurisdiction of incorporation)

000-30523	58-2466370
(Commission File Number)	(IRS Employer Identification No.)


215 North Pine Street, Spartanburg, S.C.	29302
(Address of principal executive offices)	(Zip Code)

(864) 948-9001
(Registrant's telephone number, including area code)

Not Applicable
(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 (see General Instruction A.2. below):

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 (17CFR 240.14d-2(b))

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

~~SECURITIES AND~~Item ~~EXCHANGE~~1.03 ~~COMMISSION~~Bankruptcy or Receivership.

~~WASHINGTON~~On July 16, 2010, the Office of the Comptroller of the Currency (the “OCC”) closed First DCNational ~~20549~~Bank of the South (the “Bank”), which is a wholly owned national banking association subsidiary of First National Bancshares, Inc. (the “Company”), and the Federal Deposit Insurance Corporation (“FDIC”) was named as the receiver of the Bank.

~~FORM~~In ~~8-K~~connection with the closure of the Bank, the FDIC issued a press release, dated July 16, 2010, announcing the following:

~~CURRENT REPORT~~ ~~PURSUANT~~The FDIC entered into a purchase and assumption agreement with the NAFH National Bank of Miami, Florida to assume all of the deposits of the Bank. Accordingly, all depositors of the Bank, including those with deposits in excess of the FDIC’s insurance limits, will automatically become depositors of NAFH National Bank for the full amount of their deposits, and they will continue to have uninterrupted access to the Bank’s deposits. Depositors will continue to be insured with NAFH National Bank, so there is no need for customers to change their banking relationship to retain their deposit insurance.

~~TO SECTION~~ 13On ORMonday, ~~15(D)~~July OF19, ~~THE~~2010, the offices of the Bank opened for business as branches of NAFH National Bank, which will do business under the trade name of “First National Bank of the South.”

~~SECURITIES EXCHANGE~~ ~~ACT~~In OFaddition ~~1934~~to assuming all of the deposits of the Bank, NAFH National Bank will purchase essentially all of the Bank’s assets pursuant to a loss-share transaction of approximately $512.4 million of the Bank’s assets. The loss-share transaction provides for NAFH National Bank and the FDIC to share in the losses on the assets covered under this agreement.

~~Date~~ ~~of report~~Customers ~~(Date~~who have questions about the foregoing matters, or who would like more information about the closure of ~~earliest~~the ~~event~~Bank, ~~reported) June~~can 29visit the FDIC’s web site located at http://www.fdic.gov/bank/individual/failed/firstnatlsc.html, ~~2010~~ or call the FDIC toll-free at (800) 405-8028.

~~First~~A ~~National~~complete ~~Bancshares,~~copy ~~Inc~~of the FDIC’s press release can be found on the Internet at http://www.fdic.gov/bank/individual/failed/firstnatlsc.html.

~~(Exact~~In ~~name~~addition, ofon ~~registrant~~July as20, ~~specified~~2010, inthe ~~its~~Company ~~charter)~~issued a press release describing the events of July 16, 2010.

~~South~~Item 9.01 Financial ~~Carolina~~Statements and Exhibits.

(~~State or other jurisdiction of incorporation~~d) Exhibits

000-30523	58-2466370
(Commission File Number)	(IRS Employer Identification No.)
215 North Pine Street, Spartanburg, S.C.	29302
(Address of principal executive offices)	(Zip Code)

99.1 Press Release issued July 20, 2010.

(864) 948-9001

(Registrant's telephone number, including area code)

Not Applicable

(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 (see General Instruction A.2. below):

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 (17CFR 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 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed, on December 29, 2009, First National Bancshares (the “Company”) received a letter from the NASDAQ Stock Market LLC (“NASDAQ”) that stated the Company’s common stock closed below the required minimum $1.00 per share bid price for the previous 30 consecutive business days. The letter also indicated that, in accordance with NASDAQ Marketplace Rule 5810(c)(3)(A), the Company had a period of 180 calendar days, until June 28, 2010, to regain compliance with Rule 5550(a)(2). On June 29, 2010, the Company received a subsequent letter from NASDAQ that stated the Company had not regained compliance with Rule 5550(a)(2). Thus, the Company’s common stock will cease to be listed on the NASDAQ Capital Market as of the opening of business on July 8, 2010.

Concurrently, a market maker in the Company’s common stock has enabled the stock to be quoted on the Pink OTC Markets Inc. beginning on July 8, 2010. In addition, a market maker has applied for the stock to be quoted on the OTC Bulletin Board. The Company’s common stock was quoted on the OTC Bulletin Board from the Company’s initial funding in 2000 through October 31, 2005.

The Company will continue to file annual, quarterly and other reports with the U.S. Securities and Exchange Commission (SEC).

SIGNATURES

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.

FIRST NATIONAL BANCSHARES, INC.

By: /s/ ~~Kitty B~~C. ~~Payne~~Dan Adams Name ~~Kitty B~~C. ~~Payne~~Dan Adams Title: ~~EVP/Chief Financial Officer~~Chairman

Dated: July 220, 2010

3Exhibits

99.1 Press Release issued July 20, 2010.

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