ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

The press release attached as Exhibit 99.1 to the Form 8-K filed on October 29, 2008 included incorrect information regarding impaired loans as of September 30, 2008 in the Asset Quality section of the release. Impaired loans at September 30, 2008 were reported as $16,268,000 in said release but in fact were $20,094,000. A revised press release with correct information regarding impaired loans is attached as Exhibit 99.1 to this Form 8-K/A.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits

EXHIBIT NO.

99.1 Community Bank Shares of Indiana, Inc. Press Release dated November 3, 2008