COMMUNITY BANK SHARES OF INDIANA INC
8-K, 1997-04-22
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                    -----------------------------------------


                                    FORM 8-K



                                 CURRENT REPORT


REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934


              Date of Report (Date of event reported) April 15,1996



                           Commission File No. 0-25766


                     Community Bank Shares of Indiana, Inc.


             (Exact name of registrant as specified in its charter)



                              Indiana 35-1938254
                (State or other jurisdiction of (I.R.S. Employer
              incorporation or organization) Identification Number)



           202 East Spring St., PO Box 939, New Albany, Indiana 47150
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code 1-812-944-2224




<PAGE>






         This Current Report on Form 8-K is being filed to report the retirement
of Ed Pinaire  from the  Community  Bank  Shares of Indiana  Board of  Directors
effective  April  15,  1997.  The  bylaws  of the  Company  mandatorily  require
retirement  when directors  reach the age of 70, which Mr.  Pinaire  attained in
September of 1996. No successor for the directorship has been announced.







<PAGE>





                     COMMUNITY BANK SHARES OF INDIANA, INC.


                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant has duly caused this report to be signed by the undersigned thereunto
duly authorized


                              COMMUNITY BANK SHARES
                                                     OF INDIANA, INC.
                                                     (Registrant)



     Dated    April 18,1997               BY:     /S/  Robert E. Yates
                                                       Robert E. Yates
                                                       President and CEO


     Dated    April 18,1997               BY:     /S/  James M. Stutsman
                                                       James M. Stutsman
                                                       Chief Financial Officer


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