UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
1. Name and Address of Reporting Person
Ball George
----------------------------------------
(Last) (First) (Middle)
2009 Rudie Dr.
----------------------------------------
(Street)
Jeffersonville IN 47130
----------------------------------------
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
Initial Statement
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Community Bank Shares, Inc.
CBIN
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
If officer, give title. Senior Vice President
6. If Amendment, Date of Original (Month/Year)
N/A
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. Amount of Securities |3. Ownership Form: |4. Nature of Indirect |
(Instr. 4) | Beneficially Owned | Direct (D) or | Beneficial Ownership |
| (Instr. 4) | Indirect (I) | (Instr. 5) |
| | (Instr. 5) | |
___________________________|_________________________________________|_____________________________|_______________________________|
<S> <C> <C> <C>
Common stock | 0 Shares | | |
___________________________________________________________________________________________________________________________________|
<CAPTION>
</TABLE>
*If the Form is filed by more than one Reporting Person, see Instruction 5(b)(v)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
/s/ George Ball 01/29/99
- ----------------------------- --------
Signature of Reporting Person Date
