<TABLE> <S> <C>

<ARTICLE> 9
<LEGEND>
This restated financial data schedule contains summary financial information
extracted from financial statements incorporated by reference into the Company's
quarterly reports on Form 10-Q for the quarters ended March 30, 1997, June 30,
1997 and September 30, 1997, as subsequently restated, and is qualified in its
entirety by reference to such restated financial statements.
</LEGEND>
<RESTATED> 
<CIK> 0000927478
<NAME> COMMUNITY BANKSHARES, INC.
<MULTIPLIER> 1,000
       
<S>                             <C>                     <C>                     <C>
<PERIOD-TYPE>                   3-MOS                   6-MOS                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997             DEC-31-1997             DEC-31-1997
<PERIOD-START>                             JAN-01-1997             JAN-01-1997             JAN-01-1997
<PERIOD-END>                               MAR-31-1997             JUN-30-1997             SEP-30-1997
<CASH>                                          18,830                  21,549                  16,335
<INT-BEARING-DEPOSITS>                              27                     300                     717
<FED-FUNDS-SOLD>                                 9,130                   7,185                   9,805
<TRADING-ASSETS>                                     0                       0                       0
<INVESTMENTS-HELD-FOR-SALE>                     51,845                  52,549                  50,518
<INVESTMENTS-CARRYING>                          22,867                  23,919                  25,286
<INVESTMENTS-MARKET>                            22,926                  24,349                  25,670
<LOANS>                                        208,531                 220,600                 228,836
<ALLOWANCE>                                      3,721                   3,879                   4,056
<TOTAL-ASSETS>                                 327,411                 344,457                 347,534
<DEPOSITS>                                     290,002                 305,329                 307,142
<SHORT-TERM>                                       578                     539                     501
<LIABILITIES-OTHER>                              8,346                   8,804                   7,841
<LONG-TERM>                                          0                       0                       0
<PREFERRED-MANDATORY>                            6,773                   6,773                   6,773
<PREFERRED>                                          0                       0                       0
<COMMON>                                         2,005                   2,020                   2,170
<OTHER-SE>                                      19,707                  21,712                  23,107
<TOTAL-LIABILITIES-AND-EQUITY>                 327,411                 344,457                 347,534
<INTEREST-LOAN>                                  5,371                  11,062                  17,537
<INTEREST-INVEST>                                1,242                   2,538                   3,747
<INTEREST-OTHER>                                     8                      17                      78
<INTEREST-TOTAL>                                 6,621                  13,617                  21,362
<INTEREST-DEPOSIT>                               3,091                   6,344                   9,652
<INTEREST-EXPENSE>                               3,102                   6,366                   9,684
<INTEREST-INCOME-NET>                            3,519                   7,251                  11,678
<LOAN-LOSSES>                                      190                     389                     636
<SECURITIES-GAINS>                                   0                       6                       9
<EXPENSE-OTHER>                                  4,411                   8,988                  13,161
<INCOME-PRETAX>                                  2,242                   4,690                   6,858
<INCOME-PRE-EXTRAORDINARY>                       2,242                   4,690                   6,858
<EXTRAORDINARY>                                      0                       0                       0
<CHANGES>                                            0                       0                       0
<NET-INCOME>                                     1,512                   3,169                   4,648
<EPS-PRIMARY>                                      .75                    1.58                    2.29
<EPS-DILUTED>                                      .70                    1.48                    2.26
<YIELD-ACTUAL>                                    1.21                    2.36                    3.71
<LOANS-NON>                                      1,003                     775                     567
<LOANS-PAST>                                       538                     405                     679
<LOANS-TROUBLED>                                   752                     606                     139
<LOANS-PROBLEM>                                      0                       0                       0
<ALLOWANCE-OPEN>                                 3,592                   3,592                   3,592
<CHARGE-OFFS>                                       78                     152                     224
<RECOVERIES>                                        17                      50                      72
<ALLOWANCE-CLOSE>                                3,721                   3,879                   4,056
<ALLOWANCE-DOMESTIC>                                 0                       0                       0
<ALLOWANCE-FOREIGN>                                  0                       0                       0
<ALLOWANCE-UNALLOCATED>                          3,721                   3,879                   4,056
        

</TABLE>