COMMUNITY BANK SHARES OF INDIANA INC
8-K, 1997-06-30
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) June 27, 1997



                           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 
appointment of Gordon L. Huncilman, Kerry M. Stemler, Dale L.Orem, and 
Steve Stemler  to the Board of  Directors of   Community Bank Shares of 
Indiana, Inc., on May 20, 1997, at the  Community Bank Shares of  Indiana, Inc. 
regular board of directors meeting.  Their first full board meeting was held on 
June 17, 1997.


         The  following  press  release is hereby  filed as an exhibit with this
report:


Community Bank Shares of Indiana, Inc. 
Announces Appointment of Four New Directors

On May 20, Community Bank Shares of Indiana,  Inc., with consolidated  assets of
over  $235,000,000,  appointed  four new members to join the Board of Directors.
The holding company's two wholly owned banking affiliates  include,  New Albany,
Indiana's Community Bank and Jeffersonville, Indiana's Heritage Bank.

The locally owned bank holding  company  announced the  appointment of Gordon L.
Huncilman,  President of Huncilman & Sons, Kerry M. Stemler, President and Owner
of K.M. Stemler Co., Inc., Steve Stemler, President of Stemler & Sons, Inc., and
Dale Orem, Chairman of Heritage Bank.























<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    June 27, 1997                          BY: S/  Robert E. Yates
- ---------------------------------------           --------------------------
                                                        Robert E. Yates
                                                        President and CEO


Dated    June 27, 1997                          BY: /S/ James M. Stutsman
- ---------------------------------------                     
                                                        James M. Stutsman
                                                        Chief  Financial Officer




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