UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): November 1, 2008
COMMUNITY BANKSHARES, INC.
Incorporated under the Commission File No. 001-12341 I.R.S. Employer
laws of South Carolina Identification No.
57-0966962
102 Founders Court
Orangeburg, South Carolina 29118
Telephone: 803-535-1060
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Section 2 - Financial Information
Item 2.01 Completion of Acquisition or Disposition of Assets
Effective November 1, 2008, Registrant, and its wholly-owned subsidiary,
Community Resource Bank, N.A., merged with and into First Citizens Bank and
Trust Company, Inc., Columbia, South Carolina, thereby disposing of all of their
assets and ceasing to exist as a separate entity. The transaction was pursuant
to an Agreement and Plan of Merger, a copy of which is attached to and described
in the Proxy Statement filed by Registrant on September 17, 2008, and is
incorporated herein by reference. The nature and amount of consideration is
described therein.
Item 9. Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
Exhibit 2 Agreement and Plan of Merger (incorporated by reference to Schedule
14A filed September 17, 2008
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
COMMUNITY BANKSHARES, INC.
(Registrant)
Date: November 1, 2008 s/William W. Traynham
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William W. Traynham
President and Chief Financial Officer