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) January 28, 2004

                             NBC CAPITAL CORPORATION
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               (Exact Name of Registrant as Specified in Charter)

        Mississippi                       1-15773                64-0694755
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(State or Other Jurisdiction            (Commission            (IRS Employer
      of Incorporation)                 File Number)         Identification No.)

NBC Plaza, Starkville, Mississippi                                  39759
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(Address of Principal Executive Offices)                          (Zip Code)

Registrant's telephone number, including area code (601)-343-1341

                                       n/a
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          (Former Name or Former Address, if Changed Since Last Report




Item 7. Financial Statements and Exhibits.

(c)   Exhibits.

      Exhibit Number     Exhibit
      --------------     -------

      99.1               Press Release dated January 28, 2004

Item 12. Results of Operations and Financial Condition.

On January 28, 2004, NBC Capital Corporation ("NBY") issued a press release
announcing financial information for its fiscal fourth quarter and year ended
December 31, 2003. The press release is attached as Exhibit 99.1 to this Form
8-K and is furnished to, but not filed with, the Commission.




                                    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 thereunto duly authorized.

                                           NBC CAPITAL CORPORATION

                                           By: /s/ Richard T. Haston
                                               ---------------------
                                           Richard T. Haston
                                           Executive Vice President,
                                           Chief Financial Officer and Treasurer

Dated: January 28, 2004




                                INDEX TO EXHIBITS


Exhibit Number    Exhibit
--------------    -------

99.1              Press Release dated January 28, 2004 *


*     This exhibit is furnished to, but not filed with, the Commission by
      inclusion herein.