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                       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): August 9, 2007


                          COOPERATIVE BANKSHARES, INC.
               (Exact name of registrant as specified in charter)

 NORTH CAROLINA                       0-24626                   56-1886527
(State or other                     (Commission                (IRS Employer
jurisdiction of                    File Number)            Identification No.)
 incorporation)

               201 MARKET STREET, WILMINGTON, NORTH CAROLINA 28401
          (Address of principal executive offices, including zip code)

       Registrant's telephone number, including area code: (910) 343-0181

                                 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:

[ ] 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))

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ITEM 8.01   OTHER EVENTS.
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      On August 9, 2007, Cooperative Bankshares, Inc. (the "Company") issued a
press release announcing that Todd L. Sammons, the Company's Senior Vice
President and Chief Financial Officer, will be a guest speaker at the 12th
Annual Community Bank Conference hosted by Howe Barnes Hoefer & Arnett, Inc. on
Tuesday, August 14, 2007 in Chicago, Illinois. A copy of the press release is
attached to this Report as Exhibit 99.1 and is furnished herewith.

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS.
            ----------------------------------

      (d)   Exhibits

            Number      Description
            ------      -----------

            99.1        Press Release dated August 9, 2007

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                                   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.


                                    COOPERATIVE BANKSHARES, INC.



                                    /s/ Todd L. Sammons
                                    -----------------------------------------
                                    Todd L. Sammons
                                    Senior Vice President and Chief Financial
                                    Officer

Date:  August 9, 2007