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                                 EXHIBIT 10.21

                          CHANGE IN CONTROL AGREEMENT
                                 BY AND BETWEEN
                              MICHAEL A. BEAN AND
                           COMMUNITY BANCSHARES, INC.
                            DATED DECEMBER 28, 1998


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                           CHANGE IN CONTROL AGREEMENT

                  THIS CHANGE IN CONTROL AGREEMENT (this "Agreement"), dated
         this 28th day of December, 1998, by and between Community Bancshares,
         Inc. a Delaware corporation (the "Company"), and Michael A. Bean (the
         "Executive").

                                   WITNESSETH:

                  WHEREAS, the Company wishes to assure itself and its key
         employees of continuity of management and objective judgment in the
         event of any actual or contemplated Change in Control of the Company,
         and the Executive is a key employee of the Company and is an integral
         part of management of the Company (for purposes hereof employment with
         any present or future parent or subsidiary corporation of the Company
         shall be considered employment by the Company); and

                  WHEREAS, this Agreement is not intended to materially alter
         the compensation and benefits that the Executive could reasonably
         expect to receive in the absence of a Change in Control of the
         Company, and this Agreement accordingly will be operative only upon
         circumstances relating to an actual or anticipated change in control
         of the Company.

                  NOW, THEREFORE, for and in consideration of the premises and
         the mutual covenants herein contained, the parties hereby agree as
         follows:

                  I.                OPERATION OF AGREEMENT

                  This Agreement shall be effective immediately upon its
         execution by the parties hereto, but anything in this Agreement to the
         contrary notwithstanding, neither the Agreement nor any provision
         hereof shall be operative unless, during the term of this Agreement,
         there has been a Change in Control of the Company during the term of
         this Agreement, all of the provisions hereof shall become operative
         immediately.

                  II.               TERM OF AGREEMENT

                           The term of this Agreement shall be for an initial
         three (3) year period commencing on the date hereof, and shall be
         renewable at the end of the first year of such initial three (3) year
         period and annually thereafter, for an additional one (1) year period
         following the initial three (3) year period and prior extensions
         thereof in the sole discretion of the Compensation Committee and upon
         such terms and conditions as the Compensation Committee may authorize
         at such time.






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                  III.              DEFINITIONS

                  1.       "BOARD" or "BOARD OF DIRECTORS" - the Board of 
         Directors of the Company.

                  2.       "CAUSE" - either

                           (i) any act that constitutes, on the part of the
         Executive, (A) fraud, dishonesty, a felony or gross malfeasance of
         duty, and (B) that directly results in material injury to the Company;
         or

                           (ii) conduct by the Executive in his office with the
         Company that is grossly inappropriate and demonstrably likely to lead
         to material injury to the Company, as determined by the Board acting
         reasonably and in good faith;

         provided, however, that in the case of (ii) above, such conduct shall
         not constitute Cause unless the Board shall have delivered to the
         Executive notice setting forth with specificity (A) the conduct deemed
         to qualify as Cause, (B) reasonable action that would remedy such
         objection, and (c) a reasonable time (not less than thirty (30) days)
         within which the Executive may take such remedial action, and the
         Executive shall not have taken such specified remedial action within
         such specified reasonable time.

                  3.       "CHANGE IN CONTROL" - Either

                           (i) the acquisition, directly or indirectly, by any
                  "person" (as such term is used in Section 13(d) and 14(d) of
                  the Securities Exchange Act of 1937, as amended) within any
                  twelve (12) month period of securities of the Company
                  representing an aggregate of twenty percent (20%) or more of
                  the combined voting power of the Company's then outstanding
                  securities; or

                           (ii) during any period of two consecutive years,
                  individuals who at the beginning of such period constitute
                  the Board, cease for any reason to constitute at least a
                  majority thereof, unless the election of each new director
                  was approved in advance by a vote of at least a majority of
                  the directors then still in office who were directors at the
                  beginning of the period; or

                           (iii) consummation of (a) a merger, consolidation or
                  other business combination of the Company with any other
                  "person" (as such term is used in Section 13(d) and 14(d) of
                  the Securities Exchange Act of 1934, as amended) or affiliate
                  thereof, other than a merger, consolidation or business
                  combination which would result in the outstanding common
                  stock of the Company immediately prior thereto continuing to
                  represent (either by remaining outstanding or by being
                  converted into common stock of the surviving entity or a
                  parent or affiliate thereof) at least sixty (60)% of the
                  outstanding common stock of the Company or such surviving
                  entity or parent or affiliate thereof outstanding immediately
                  after such merger, consolidation or business combination, or
                  (b) a plan of complete liquidation of the Company or an
                  agreement for the sale of disposition by the Company of all
                  or substantially all of the Company's assets; or


                           (iv) the occurrence of any other event or
                  circumstance which is not covered by (i) through (iii) above
                  which the Board determines affects control of the Company
                  and, in order to implement the purposes of this Agreement as
                  set forth above, adopts a resolution that such event or
                  circumstance constitutes a Change in Control of the purposes
                  of this Agreement.





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         4. "CODE" - the Internal Revenue Code of 1986, as amended.

         5. "COMPENSATION COMMITTEE" - the Executive Compensation Committee of
the Board of Directors of the Company, or any successor committee.

         6. "DISABILITY" - the Executive's probable and expected inability as a
result of physical or mental incapacity to substantially perform his duties for
the Company on a full time basis for a period of six (6) months. The
determination of whether the Executive suffers a Disability shall be made by a
physician acceptable to both the Executive (or his personal representative) and
the Company.

         7. "EXCESS SEVERANCE PAYMENT" - the term "Excess Severance Payment"
shall have the same meaning as the term "excess parachute payment" defined in
Section 280G(b)(1) of the Code.

         8. "INVOLUNTARY TERMINATION" - termination of the Executive's
employment by the Executive following a Change in Control which, in the
reasonable judgment of the Executive, is due to (i) a change of the Executive's
responsibilities, position (including status, office, title, reporting
relationships or working conditions), authority or duties (including changes
resulting from the assignment to the Executive of any duties inconsistent with
his positions, duties or responsibilities as in effect immediately prior to the
Change in Control); or (ii) a reduction in the Executive's compensation or
benefits as in effect immediately prior to the Change in Control, or (iii) a
forced relocation of the Executive's primary place of employment to a place
more than fifty (50) miles from the Executive's primary place of employment
immediately prior to the Change in Control. Involuntary Termination does not
include retirement (including early retirement) within the meaning of the
Company's retirement plan, or death or Disability of the executive.

         9. "PRESENT VALUE" - The term "Present Value" shall have the same
meaning as provided in Section 280G(d)(4) of the Code.

         10. "SEVERANCE PAYMENT" - The term "Severance Payment" shall have the
same meaning as the term "parachute payment" defined in Section 280G(b)(2) of
the Code.

         11. "REASONABLE COMPENSATION" - The term "Reasonable Compensation"
shall have the same meaning as provided in Section 280G(b)(4) of the Code.





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         IV.            BENEFITS UPON TERMINATION FOLLOWING A CHANGE IN CONTROL


         1. TERMINATION - The Executive shall be entitled to, and the Company
shall pay or provide to the Executive, the benefits described in Section 2
below if (a) a Change in Control occurs during the term of this Agreement, and
(b) the Executive's employment is terminated within thirty (30) months
following the Change in Control either (i) by the Company (other than for Cause
or by reason of the Executive's death or Disability) or (ii) by the Executive
pursuant to Involuntary Termination; provided, however, that if:

         (a) during the term of this Agreement there is a public announcement
of a proposal for a transaction that, if consummated, would constitute a Change
in Control or the Board receives and decides to explore an expression of
interest with respect to a transaction which, if consummated, would lead to a
Change in Control (either transaction being referred to herein as the "Proposed
Transaction"); and

         (b) the Executive's employment is thereafter terminated by the Company
other than for Cause or by reason of the Executive's death or Disability; and

         (c) the Proposed Transaction is consummated within one (1) year after
the date of termination of the Executive's employment.

         then, for the purposes of this Agreement, a Change in Control shall be
deemed to have occurred during the term of this Agreement and the termination
of the Executive's employment shall be deemed to have occurred within two (2)
years following a Change in Control.

         2. BENEFITS TO BE PROVIDED - If the Executive becomes eligible for
benefits under Section 1 above, the Company shall pay or provide to the
Executive the benefits set forth in this Section 2.

         (a) SALARY - The Executive will continue to receive his current salary
(subject to withholding of all applicable taxes and any amounts referred to in
Section 2(c) below) for a period of thirty (30) months from his date of
termination in the same manner as it was being paid as of the date of
termination; provided, however, that the salary payments provided for hereunder
shall be paid in a single lump sum payment, to be paid not later than thirty
(30) days after his termination of employment; provided further, that the
amount of such lump sum payment shall be determined by taking the salary
payments to be made and discounting them to their Present Value. For purposes
hereof, the Executive's "current salary" shall be the highest rate in effect
during the six-month period prior to the Executive's termination.

         (b) BONUSES - The Executive shall receive payments from the Company
for the thirty (30) months following the month in which this employment is
terminated in an amount for each such month equal to one-twelfth of the average
of the bonuses earned by him for the two calendar years immediately preceding
the year in which such termination occurs. Any bonus amounts that the Executive
had previously earned from the Company but which may not yet have been paid as
of the date of termination shall not be affected by this provision, other than
to serve as a measurement for this portion of the severance benefit. The bonus
amounts determined herein shall be paid in a single lump sum payment, to be
paid not later than 30 days after termination of employment; provided, further,
that the amount of such lump sum payment shall be determined by taking the
bonus payments (as of the payment date) to be made and discounting them to
their Present Value.







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         (c) HEALTH AND LIFE INSURANCE COVERAGE - The health and life insurance
benefits coverage provided to the Executive at his date of termination shall be
continued at the same level and in the same manner as if his employment had not
terminated (subject to the customary changes in such coverages if the Executive
retires or reaches age 65 or similar events), beginning on the date of such
termination and ending on the date thirty (30) months from the date of such
termination. Any additional coverages the Executive had at termination,
including dependent coverage, will also be continued for such period at the
same level and on the same terms as provided to the Executive immediately prior
to his termination, to the extent permitted by the applicable policies or
contract. Any costs Executive was paying for such coverages at the time of
termination shall be paid by the Executive by separate check payable to the
Company each month in advance. If the terms of any benefit plan referred to in
this Section do not permit continued participation by the Executive, then the
Company will arrange for other coverage at its expense providing substantially
similar benefits as it can find for other officers in similar positions.

         (d) EMPLOYEE RETIREMENT PLANS - To the extent permitted by the
applicable plan, the Executive will be fully vested in and will be entitled to
continue to participate, consistent with past practices, in all employee
retirement plans maintained by the Company in effect as of his date of
termination. The Executive's participation in such retirement plans shall
continue for a period of thirty (30) months from the date of termination of his
employment (at which point he will be considered to have terminated employment
within the meaning of the plans) and the compensation payable to the executive
under (a) and (b) above shall be treated (unless otherwise excluded) as
compensation under the plan. If full vesting and continued participation in any
plan is not permitted, the Company shall pay to the executive and, if
applicable, his beneficiary, a supplemental benefit equal to the Present Value
on the date of termination of employment of the excess of (i) the benefit the
Executive would have been paid under such plan if he had been fully vested and
had continued to be covered for the 30-month period as if the Executive had
earned compensation described under (a) and (b) above and had made
contributions sufficient to earn the maximum matching contribution, if any,
under such plan (less any amounts he would have been required to contribute),
over (ii) the benefit actually payable to or on behalf of the Executive under
such plan. For purposes of determining the benefit under (i) in the preceding
sentence, contributions deemed to be made under a defined contribution plan
will be deemed to be invested in the same manner as the Executive's account
under such plan at the time of termination of employment. The Company shall pay
such supplemental benefits (if any) in a lump sum.








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         (e) CAREER COUNSELING - The Company will provide career counseling and
out placement services on an individual basis to the Executive as the Company
deems appropriate and for a reasonable period following the Executive's
termination of employment; provided, however, that the Company's obligation to
provide such services shall terminate at such time, if any, as the cost of such
services exceeds $5,000.

         (f) EFFECT OF LUMP SUM PAYMENT - The lump sum payment under (a) or (b)
above shall not alter the amounts the Executive is entitled to receive under
the benefit plans described in (c) and (d) above. Benefits under such plans
shall be determined as if the Executive had remained employed and received such
payments over a period of thirty (30) months.

         (g) EFFECT OF DEATH OR RETIREMENT - The benefits payable or to be
provided under this Agreement shall continue in the event of the Executive's
death and shall be payable to his estate or named beneficiary. The benefits
payable or to be provided under this Agreement shall cease in the event of the
Executive's election to commence retirement benefits under the Company's
retirement plan.

         (h) LIMITATION ON AMOUNT - Notwithstanding anything in this Agreement
to the contrary, any benefits payable or to be provided to the Executive by the
Company or its affiliates, whether pursuant to this Agreement or otherwise,
which are treated as Severance Payments shall be modified or reduced in the
manner provided in (h) below to the extent necessary so that the benefits
payable or to be provided to the Executive under this Agreement that are
treated as Severance Payments, as well as any payments or benefits provided
outside of this Agreement that are so treated, shall not cause the Company to
have paid an Excess Severance Payment. In computing such amount, the parties
shall take into account all provisions of Internal Revenue Code Section 280G,
including making appropriate adjustments to such calculation for amounts
established to be Reasonable Compensation.

         (i) MODIFICATION OF AMOUNT - In the event that the amount of any
Severance Payments that would be payable to or for the benefit of the Executive
under this Agreement must be modified or reduced to comply with this Section 2,
the Executive shall direct which Severance Payments are to be modified or
reduced; provided, however, that no increase in the amount of any payment or
change in the timing of the payment shall be made without the consent of the
Company.

         (j) AVOIDANCE OF PENALTY TAXES - This Section 2 shall be interpreted
so as to avoid the imposition of excise taxes on the Executive under Section
4999 of the Code or the disallowance of a deduction to the Company pursuant to
Section 280G(a) of the Code with respect to amounts payable under this
Agreement or otherwise.

         (k) ADDITIONAL LIMITATION - In addition to the limits otherwise
provided in this Section 2, to the extent permitted by law, the Executive may
in his sole discretion elect to reduce any payments he may be eligible to
receive under this Agreement to prevent the imposition of excise taxes on the
Executive under Section 4999 of the Code.






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         (l) NO OBLIGATION TO FUND - The agreement of the Company (or its
successor) to make payments to the Executive hereunder shall represent solely
the unsecured obligation of the Company (and its successor), except to the
extent the Company (or its successors) in its sole discretion elects in whole
or in part to fund its obligations under this Agreement pursuant to a trust
arrangement or otherwise.

         VI.            MISCELLANEOUS

         1. CONTRACT NON-ASSIGNABLE - The parties acknowledge that this
Agreement has been entered into due to, among other things, the special skills
of the Executive, and agree that this Agreement may not be assigned or
transferred by the Executive, in whole or in part, without the prior written
consent of the Company. Any business entity succeeding to all or substantially
all of the business of the Company by purchase, merger, consolidation, sale of
assets or otherwise, shall be bound by this Agreement.

         2. OTHER AGENTS - Nothing in this Agreement is to be interpreted as
limiting the Company from employing other personnel on such terms and
conditions as may be satisfactory to the Company.

         3. NOTICES - All notices, requests, demands and other communications
required or permitted hereunder shall be in writing and shall be deemed to have
been duly given if delivered or seven days after mailing if mailed, first
class, certified mail, postage prepaid:

To the Company:           Community Bancshares, Inc.
                          P.O. Box 1000
                          Blountsville, Alabama 35031

To the Executive:         Michael A. Bean
                          P.O. Box 1000
                          Blountsville, Alabama 35031

Any party may change the address to which notices, requests, demands and other
communications shall be delivered or mailed by giving notice thereof to the
other party in the same manner provided herein.

         4. PROVISIONS SEVERABLE - If any provision or covenant, or any part
thereof, of this Agreement should be held by any court to be invalid, illegal
or unenforceable, either in whole or in part, such invalidity, illegality or
unenforceability shall not affect the validity, legality or enforceability of
the remaining provisions or covenants, or any part thereof, of this Agreement,
all of which shall remain in full force and effect.

         5. WAIVER - Failure of either party to insist, in one or more
instances, on performance by the other in strict accordance with the terms and
conditions of this Agreement shall not be deemed a waiver or relinquishment of
any right granted in this Agreement or of the future performance of any such
term or condition or of any other term or condition of this Agreement, unless
such waiver is contained in a writing signed by the party making the waiver.

         6. AMENDMENTS AND MODIFICATIONS - This Agreement may be amended or
modified only by a writing signed by both parties hereto, which makes specific
reference to this Agreement.

         7. GOVERNING LAW - The validity and effect of this Agreement shall be
governed by and construed and enforced in accordance with the laws of the State
of Alabama.







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         8. ARBITRATION OF DISPUTES; EXPENSES - The parties agree that all
disputes that may arise between them relating to the interpretation or
performance of this Agreement, including matters relating to any funding
arrangements for the benefits provided under this Agreement, shall be
determined by binding arbitration through an arbitrator approved by the
American Arbitration Association or other arbitrator mutually acceptable to the
parties. The award of the arbitrator shall be final and binding upon the
parties and judgment upon the award rendered may be entered in any court having
jurisdiction. In the event the Executive incurs legal fees and other expenses
in seeking to obtain or to enforce any such rights or benefits through
settlement, arbitration or otherwise, the Company shall promptly pay the
Executive's reasonable legal fees and expenses incurred in enforcing this
Agreement. Except to the extent provided in the preceding sentence, each party
shall pay its own legal fees and other expenses associated with the
arbitration, provided that the fee for the arbitrator shall be shared equally.

         9. INDEMNITY - The Executive shall be entitled to the benefits of the
indemnity currently applicable to the Executive, if any, as provided by the
Company's articles of incorporation or bylaws. Any changes to the articles of
incorporation or bylaws reducing the indemnity granted to officers shall not
affect the rights granted hereunder. The Company may not reduce these indemnity
benefits confirmed to the Executive hereunder without the written consent of
the Executive.

         10. TERMINATION OF PRIOR AGREEMENTS - The Executive hereby agrees to a
mutual termination, effective as of the effective date of this Agreement, of
any prior existing change in control agreements (by whatever name), providing
benefits to the Executive upon a termination of employment following a Change
in Control of the Company, to which he and the Company are parties, and as to
such prior agreements, if any, the Executive releases all claims, rights and
entitlements.

         11. REGULATORY APPROVALS - The Agreement, and the rights and
obligations of the parties hereto, shall be subject to approval of the same by
any and all regulatory authorities having jurisdiction over the Company, to the
extent such approval is required by law, regulation, or order.










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         12. REGULATOR INTERVENTION - Notwithstanding any term of this
Agreement to the contrary, this Agreement is subject to the following terms and
conditions:

         (a) The Company's obligations to provide compensation or other
benefits to Executive under this Agreement may be suspended if the Company has
been served with a notice of charges by the appropriate federal banking agency
under provisions of Section 8 of the Federal Deposit Insurance Act (12 U.S.C.
1818) directing the Company to cease making payments required hereunder;
provided, however, that

                        (i) The Company shall seek in good faith with its best
                  efforts to oppose such notice of charges as to which there
                  are reasonable defenses;

                        (ii) In the event the notice of charges is dismissed or
                  otherwise resolved in a manner that will permit the Company
                  to resume its obligations to provide compensation or other
                  benefits hereunder, the Company shall immediately resume such
                  payments and shall also pay Executive the compensation
                  withheld while the contract obligations were suspended,
                  except to the extent precluded by such notice; and

                        (iii) During the period of suspension, the vested
                  rights of the contracting parties shall not be affected,
                  except to the extent precluded by such notice.

         (b) The Company's obligations to provide compensation or other
benefits to Executive under this Agreement shall be terminated to the extent a
final order has been entered by the appropriate federal banking agency under
provisions of Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818)
directing the Company not to make the payments required hereunder; provided,
however, that the vested rights of the contracting parties shall not be
affected by such order, except to the extent precluded by such order.

         (c) The Company's obligations to provide compensation or other
benefits to Executive under this Agreement shall be terminated or limited to
the extent required by the provisions of any final regulation or order of the
Federal Deposit Insurance Company promulgated under Section 18(k) of the
Federal Deposit Insurance Act (12 U.S.C. 1828(k)) limiting or prohibiting any
"golden parachute payment" as defined therein, but only to the extent that the
compensation or payments to be provided under this Agreement are so prohibited
or limited.

         (d) Notwithstanding the foregoing, the Company shall not be required
to make any payments under this Agreement prohibited by law.







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         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed on its behalf by its duly authorized officers and the Executive has
hereunto set his hand, as of the date and year first above written.

                              COMMUNITY BANCSHARES, INC.


                              By:  /s/ Kennon R. Patterson, Sr.  
                                  ---------------------------------------------
                              Title:   Chairman, President and Chief
                                       Executive Officer



         Attest: /s/ Bishop K. Walker, Jr.  
                 -----------------------------------
         Title:   Secretary

         (CORPORATE SEAL)



         EXECUTIVE

         /s/ Michael A. Bean
         --------------------------------------------
         Executive Vice President

                                                      (SEAL)
         --------------------------------------------














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