-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, S1qXPkNHNuF9jAv+bSvqjWWuTsc91T2YKRzNpHkVBsIFiCcozCYQDKLC4aJvd/VE WZMb6Ywh2cS1ZAYL9IH2fA== 0000950144-99-004307.txt : 19990412 0000950144-99-004307.hdr.sgml : 19990412 ACCESSION NUMBER: 0000950144-99-004307 CONFORMED SUBMISSION TYPE: DEFC14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990409 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNITY BANCSHARES INC /DE/ CENTRAL INDEX KEY: 0000752195 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 630868361 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFC14A SEC ACT: SEC FILE NUMBER: 000-16461 FILM NUMBER: 99591179 BUSINESS ADDRESS: STREET 1: MAIN ST P O BOX 1000 CITY: BLOUNTSVILLE STATE: AL ZIP: 35031 BUSINESS PHONE: 2054291000 MAIL ADDRESS: STREET 1: MAIN STREET PO BOX 1000 CITY: BLOUNTSVILLE STATE: AL ZIP: 35031 FORMER COMPANY: FORMER CONFORMED NAME: BLOUNTSVILLE BANCSHARES INC DATE OF NAME CHANGE: 19860602 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNITY BANCSHARES INC /DE/ CENTRAL INDEX KEY: 0000752195 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 630868361 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFC14A BUSINESS ADDRESS: STREET 1: MAIN ST P O BOX 1000 CITY: BLOUNTSVILLE STATE: AL ZIP: 35031 BUSINESS PHONE: 2054291000 MAIL ADDRESS: STREET 1: MAIN STREET PO BOX 1000 CITY: BLOUNTSVILLE STATE: AL ZIP: 35031 FORMER COMPANY: FORMER CONFORMED NAME: BLOUNTSVILLE BANCSHARES INC DATE OF NAME CHANGE: 19860602 DEFC14A 1 COMMUNITY BANCSHARES,INC. 1 SCHEDULE 14A (RULE 14A-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) Filed by the Registrant [X] Filed by a Party other than the Registrant [ ] Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) [ ] Definitive Proxy Statement [ ] Definitive Additional Materials [X] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
COMMUNITY BANCSHARES, INC. - -------------------------------------------------------------------------------- (Name of Registrant as Specified In Its Charter) - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: [ ] Fee paid previously with preliminary materials: [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: 2 (Community Bancshares, Inc. letterhead) Dear Stockholder: A small group of disgruntled shareholders and former directors who are in a power grab to take over your bank, They are not giving you all of the facts behind their uncalled for barrage of personal attacks on the members of the board of directors of Community Bancshares, Inc. Those attackers are not telling you everything about themselves and their history with the bank. We believe you need to know what this assault is really all about -- the truth. We think you should stop and consider the sources of misinformation. We think you should stop to reflect on the fact that it is the present directors and management of Community Bancshares, Inc., who have put this company on the fast track to success and prosperity and remain leaders you can count on to be competent stewards of your investment. DO YOU KNOW? As members of the board of directors of the bank, R.C. Corr and his son Bryan Corr, who are leaders of the disgruntled opposition, always voted in favor of all of the salaries and contracts they now call "outrageous." The records of the bank and the minutes of the board meetings reflect that they never, ever uttered a word in disagreement. In fact, R.C. Corr was for several years a member of the salary committee that suggested and approved management salaries and also was chairman of the bank's audit committee. Are they now claiming that they violated their responsibility to you and other shareholders for years and years? Is that the kind of person you want selecting new directors for your company? DO YOU KNOW? The instigators of the power grab paint a picture of gloom and doom, saying your investment in the bank has been jeopardized. In fact, they should know better since their own investment has quadrupled and their most recent purchase of bank stock has increased in value by 33 percent in just the past six months. Are they telling you the truth when they try to make you worry about the safety and quality of your investment, which has more than doubled in the past three years? Stop and consider: Would they have been making private deals to buy the stock themselves if they didn't have faith in the management they for years endorsed and now condemn? DO YOU KNOW? Those who are complaining about some of the bank's service contracts in fact voted for those same contracts year after year and even hired at least one of the vendors for their own business. DO YOU KNOW? If those who are attacking the bank leadership move onto the board of directors, they could try to divert your company from its policy of local, independent, community-centered banks for North Alabama. Do they have a hidden intent? Do they want to lead us down a new and uncertain road? We urge you to keep the leaders of Community Bancshares who have grown the bank by some 2,000% in the past 13 years while steadily increasing the value and dividends of your investment. They got us this far quickly and safely. 2 3 Before you allow these power grabbers to send you down a detour, stop and think about the fact that the leaders of your Community Bank did not inherit their positions. They have worked for decades to earn their success and your trust, always looking after the best interests of the bank and the shareholders. They don't vote for years one way and then talk another when it suits their narrow motives. We urge you to vote against the power grab of a disgruntled few. CERTAIN ADDITIONAL INFORMATION REQUIRED BY THE SECURITIES AND EXCHANGE COMMISSION: Community Bancshares, Inc. (the "Company") will be soliciting proxies for the upcoming Annual Meeting of Stockholders of the Company to vote for election of the Board of Directors' nominees to serve as directors of the Company and for approval of the Company's proposals. Such proxies will be voted against proposals that may be presented at the Annual Meeting by certain members of the so-called Stockholders for Integrity and Responsibility. The following individuals, each of whom is a member of the Board of Directors of the Company, may be deemed to be participants in the solicitation of such proxies and, as of March 1, 1999, beneficially owned the number of shares of the Company's common stock indicated: Glynn Debter, 37,067 shares; Roy B. Jackson, 5,000 shares; Denny G. Kelly, 370,000 shares; John J. Lewis, Jr., 43,667 shares; Loy McGruder, 58,022 shares; Hodge Patterson, III, 80,077 shares; Kennon R. Patterson, Sr., 863,456 shares; Merritt M. Robbins, 184,908 shares; Robert O. Summerford, 116,867 shares; Bishop K. Walker, Jr., 569,479 shares; and R. Wayne Washam, 39,069 shares. 3
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