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PROSPECTUS SUPPLEMENT TO
PROSPECTUS DATED AUGUST 14, 1998
REGISTRATION NO. 333-57491
FILED PURSUANT TO RULE 424(b)(5)
COMMUNITY BANCSHARES, INC.
SUPPLEMENT
TO
PROSPECTUS DATED AUGUST 14, 1998
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This is a Supplement to Community Bancshares, Inc.'s Prospectus, dated
August 14, 1998 (the "Prospectus"), with respect to an offering of 500,000
shares of Common Stock of Community Bancshares, Inc. This Supplement amends and
supplements certain information contained in the Prospectus. We encourage you to
read this Supplement carefully.
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NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSIONER HAS APPROVED OR DISAPPROVED OF THE SHARES OF COMMUNITY BANCSHARES,
INC. COMMON STOCK TO BE ISSUED UNDER THIS SUPPLEMENT AND THE PROSPECTUS OR
DETERMINED IF THIS SUPPLEMENT OR THE PROSPECTUS IS TRUTHFUL OR COMPLETE. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
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SHARES OF COMMUNITY BANCSHARES, INC. COMMON STOCK ARE NOT SAVINGS OR
DEPOSIT ACCOUNTS AND ARE NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE
CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.
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THE DATE OF THIS SUPPLEMENT IS NOVEMBER 25, 1998.
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INCREASED NUMBER OF AUTHORIZED SHARES OF COMMON STOCK
Community Bancshares amended its certificate of incorporation on
September 10, 1998 to increase the number of authorized shares of its Common
Stock to 20,000,000 from 5,000,000. This amendment was voted on and approved by
the stockholders of Community Bancshares at a special stockholders meeting held
on September 10, 1998.
Information about the number of authorized shares of Community
Bancshares Common Stock is included in the sections of the Prospectus captioned
"Capitalization" and "Description of Capital Stock."
QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED SEPTEMBER 30, 1998
Community Bancshares has filed with the Securities and Exchange
Commission a Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 1998, and has also filed an amendment to that report on Form
10-Q/A-1, which was filed with the SEC on November 25, 1998. Community
Bancshares hereby incorporates into this Supplement and the Prospectus by
reference this Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 1998 and the amendment thereto on Form 10-Q/A-1.
A copy of Community Bancshares' Quarterly Report on Form 10-Q for the
quarterly period ended September 30, 1998, and the amendment thereto on Form
10-Q/A-1, is being provided to you along with this Supplement.
Information about documents that have been incorporated by reference
into the Prospectus is included in the section of the Prospectus captioned
"Incorporation of Certain Information by Reference."
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