The information included in Item 5.07 of the Form 8-K filed on May 17, 2012 incorrectly identified Gary L. Libs as a person elected to serve as a director of the Company. A revised disclosure correcting the elected person to Steven R. Stemler is included below.

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.

1. Election of directors:

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