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, 2006


                           COMMUNITY BANKSHARES, INC.




Incorporated under the    Commission File No. 000-22054      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:

[ ]  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 2.02.  Results of Operations and Financial Condition.

2006 Third Quarter Earnings

     Please see  Exhibit 99 for the  Registrant's  2006 third  quarter  earnings
release.

Item 9.  Financial Statements and Exhibits

Item 9.01   Financial Statements and Exhibits

(c)         Exhibit 99   Registrant's 2006 Third Quarter Earnings Release








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, 2006              By: /s/ William W. Traynham
                                       -----------------------------------------
                                       William W. Traynham
                                       President and Chief Financial Officer








                                  EXHIBIT INDEX

Exhibit 99        Registrant's 2006 Third Quarter Earnings Release