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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): April 6, 2000 (March 23, 2000)
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COMMUNITY BANCSHARES, INC.
(Exact Name of Registrant as Specified in Its Charter)
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DELAWARE 0-16461 63-0868361
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification Number)
MAIN STREET 35031
BLOUNTSVILLE, ALABAMA (Zip Code)
(Address of Principal Executive Offices)
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(205) 429-1000
(Registrant's Telephone Number, Including Area Code)
NOT APPLICABLE
(Former Name or Former Address, If Changed From Last Report)
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ITEM 5. OTHER EVENTS
On April 6, 2000, the Registrant issued a press release regarding the
Registrant's offering of trust preferred securities. A copy of the press release
is filed as Exhibit 99 hereto, which is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) The following exhibit is filed herewithin
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Exhibit Number Description
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99 Press Release of the Registrant, dated April 6, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has dully caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
COMMUNITY BANCSHARES, INC.
By: /s/ Kennon R. Patterson
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Kennon R. Patterson, Sr.
Chairman, Chief Executive Officer and President
Date: April 6, 2000
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EXHIBIT INDEX
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Exhibit Number Description
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99 Press Release of the Registrant, dated April 6, 2000
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EXHIBIT 99
NEWS RELEASE Community Bancshares, Inc.
P.O. Box 1000
Blountsville, Alabama 35031
FOR IMMEDIATE RELEASE
Contact: Michael A. Bean (205) 429-1005
Community Bancshares Issues Trust Preferred Securities
Blountsville, Alabama, April 6, 2000... Community Bancshares, Inc.
announced that it has issued in a private offering $10 million in 10-7/8% trust
preferred securities with a stated liquidation amount of $1,000 per security.
The trust preferred securities were issued through Community (AL) Capital Trust
I, a Delaware statutory business trust and subsidiary of Community Bancshares,
Inc. Community (AL) Capital Trust I used the proceeds from the sale of the trust
preferred securities to purchase junior subordinated deferrable interest
debentures of Community Bancshares, Inc. Community Bancshares, Inc. will use the
net proceeds from the debentures for general corporate purposes, including
capital contributions to its subsidiary, Community Bank.
Kennon R. Patterson, Sr., Chairman of the Board, President and Chief
Executive Officer of Community Bancshares, Inc., said, "This issuance of trust
preferred securities strengthens the company's capital position and gives the
company flexibility to respond to business opportunities as they arise."
Community Bancshares, Inc. is a bank holding company headquartered in
Blountsville, Alabama. Community Bancshares, Inc., through its subsidiaries,
operates 30 banking offices and 12 finance company offices in Alabama and south
central Tennessee and provides a full line of financial services.
Certain statements contained in this release are not based on
historical facts and are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
may be identified by their reference to a future period or by the use of
forward-looking terminology, such as "believe," "expect," "may" or "will." These
forward-looking statements include, without limitation, those relating to the
Company's use of proceeds, capital position and business opportunities. We
caution you not to place undue reliance on these forward-looking statements, in
that actual results could differ materially from those indicated, due to a
variety of factors, including, but not limited to, general and local economic
conditions, governmental and fiscal monetary policies, fluctuations in
prevailing interest rates, effectiveness of the Company's interest rate hedging
strategies, laws and regulations affecting financial institutions, changes in
the Company's operating and growth strategies, the ability of the Company to
compete with other financial services companies and market its services and
products, geographic concentration of the Company's assets and other risks
detailed from time to time in the Company's press releases and filings with the
Securities and Exchange Commission. We undertake no obligation to update these
forward-looking statements to reflect events or circumstances that occur after
the date of this release.
