Summary of COMMUNITY BANK SHARES OF INDIANA INC

ITEM 5.07. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Community Bank Shares of Indiana, Inc.'s Annual Meeting of Stockholders was held on May 15, 2012. At the meeting:

1. 2 persons were elected to serve as directors of Community Bank Shares of Indiana, Inc.;

2. the selection of Crowe Horwath LLP to serve as the independent registered public accounting firm of Community Bank Shares of Indiana, Inc. for 2012 was ratified; and

3. a proposal to approve Community Bank Shares of Indiana, Inc.'s overall executive compensation program and procedures.

4. a proposal to approve the frequency of non-binding votes on Community Bank Shares of Indiana, Inc.'s overall executive compensation program and procedures.

Set forth below, with respect to each such matter, are the number of votes cast for or against, the number of abstentions, and the number of broker non-votes.

FOR AGAINST WITHHELD ABSTAINED BROKER NON-VOTES

1. Election of directors:

NOMINEE Gerald T. Koetter 2,125,762 65,067 607,935 Gary L. Libs 2,050,352 140,477 607,935

2. Ratification of Independent Registered Public Accounting Firm. 2,706,663 12,641 79,460

3. Proposal to approve Community Bank Shares of Indiana, Inc.'s overall executive compensation programs and procedures. 1,965,761 148,332 76,736 607,935

4. Proposal to approve the frequency of non-binding votes on Community Bank Shares of Indiana, Inc.'s overall executive compensation programs and procedures.

·   1 year                         2,030,983
·   2 years                           51,187
·   3 years                           29,154
·   Abstain                                                                       79,505
·   Broker Non-Votes                                                                                   607,935