DAHLONEGA, Ga.-- Century South Banks Inc. earned a record $1.2 million for the first quarter, up 43.8% for the same time a year ago.

Excluding a $193,000 aftertax loss on the sale of its data processing subsidiary recorded in the first quarter of 1993, net earnings for the 1994 quarter increased 16%. The company earned 25 cents a share for the quarter, up from 18 cents.

Assets increased 3.1% to $441 million, and nonperforming loans fell to $4 million from $4.7 million a year ago.

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