UNITED ~~STATES~~ ~~SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549~~ 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~~ REPORT

~~Date~~PURSUANT TO ofSECTION ~~Report~~13 ~~(Date~~OR ~~of earliest event reported~~15(d): ~~August~~OF ~~24, 2010~~ THE

~~SUPERIOR BANCORP~~SECURITIES ~~(Exact~~EXCHANGE ~~name~~ACT ofOF ~~registrant as specified in its charter)~~ 1934

Delaware		0-25033		63-1201350
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

Date of Report (Date of earliest event reported): September 16, 2010

17 North 20th Street, Birmingham, Alabama		35203
(Address of Principal Executive Offices)		(Zip Code)

SUPERIOR BANCORP

~~Registrant’s~~(Exact Name ~~telephone~~of ~~number,~~Registrant ~~including~~as ~~area~~Specified ~~code:~~in ~~(205~~Charter) ~~327-1400~~

~~(Former name or former address if changed since last report.)~~Delaware

State or Other

Jurisdiction of

Incorporation

0-25033	63-1201350
(Commission	(IRS Employer
File Number)	Identification No.)

17 North 20th Street, Birmingham, Alabama	35203
(Address of Principal Executive Offices)	Zp Code)

(205) 327-1400

(Registrant’s Telephone Number, including Area Code)

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))

1o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

~~Section~~o 8Pre-commencement communications –pursuant ~~Other~~to ~~Events~~Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

~~Item~~o Pre-commencement communication ~~8.01.~~pursuant ~~Other~~to ~~Events~~Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

~~Consistent with its previously announced capital optimization plan, Superior Bancorp (the “Company”) has deferred~~Section ~~regularly~~5 ~~scheduled~~– ~~interest~~Corporate ~~payments~~Governance on all issues of its junior subordinated notes relating to its five different issues of trust preferred securities aggregating $122 million in principal amount currently outstanding. This action has no impact on the operation of Superior Bank, the principal subsidiary of the Company. During the deferral period, the respective trusts will likewise suspend the declaration and payment of dividends on the trust preferred securities. The terms of the junior subordinated notes and the related documents governing the respective issues of trust preferred securities contemplate the possibility of such deferrals and allow the Company to defer payments without default or penalty. The deferrals are for up to five years. Management

SoItem long as interest is deferred on the junior subordinated notes and corresponding distributions are deferred on the trust preferred securities, interest will continue to accrue on the junior subordinated notes, and that deferred interest will also accrue interest5.02 ~~The~~Departure ~~Company~~of ~~may~~Directors ~~terminate~~or ~~the~~Certain ~~deferrals~~Officers; ~~and~~Election ~~resume~~of ~~payments~~Directors; atAppointment ~~any time. Upon the termination or expiration~~ of ~~the~~Certain ~~deferrals,~~Officers; ~~all~~Compensatory ~~accrued~~Arrangements ~~and unpaid interest will be due and payable on the junior subordinated notes, and a corresponding amount~~ of ~~distributions~~Certain ~~will be payable on the trust preferred securities~~Officers.

2(b) On September 16, 2010, Director Mark A. Lee notified Superior Bancorp (the “Corporation”) of his resignation from the Boards of Directors of the Corporation and the Corporation’s subsidiary, Superior Bank. Mr. Lee’s decision is not the result of any disagreement with the Corporation.

Also, during the deferral periods, the Company may not, among other things and with limited exceptions, pay cash dividends on or repurchase its common stock or preferred stock nor make any payment on outstanding debt obligations that rank equally with or junior to the junior subordinated notes. Accordingly, the Company has also suspended the cash payment of dividends on its preferred stock aggregating $11 million in principal amount currently outstanding. -2-

The Company estimates that the deferral of interest payments on the junior subordinated notes and the suspension of cash dividends on the preferred stock will preserve approximately $7 million per year in cash flow. SIGNATURES

3Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

SIGNATURE

	SUPERIOR BANCORP
Date: September 22, 2010	By:	/s/ C. Stanley Bailey
		C. Stanley Bailey
		Chairman, President and Chief Executive Officer

~~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.~~ -3-

SUPERIOR BANCORP

By: /s/ C. Stanley Bailey C. Stanley Bailey Chairman and Chief Executive Officer

Date: August 24, 2010

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