Exhibit 14

                           COMMUNITY BANKSHARES, INC.
                             CODE OF ETHICAL CONDUCT

         The Chief Executive Officer, Chief Financial Officer Executive Vice
President of Corporate Finance and Corporate Controller of Community Bankshares,
Inc. (the "Company") must:

         o        Act honesty and ethically, avoiding actual or apparent
                  conflicts of interest in personal and professional
                  relationships.

         o        Promote full, fair, accurate, timely and understandable
                  disclosure in reports and documents that the Company files
                  with, or submits to, the Securities and Exchange Commission
                  (the "SEC") and in other public communications made by the
                  Company.

         o        Comply with applicable laws, rules, and regulations of
                  federal, state, and local governments and other appropriate
                  private and public regulatory agencies.

         o        Act in good faith and responsibly, with due care, competence,
                  and diligence, without misrepresenting material facts.

         o        Respect the confidentiality of information acquired in the
                  course of employment.

         o        Share knowledge and maintain skills necessary and relevant to
                  the Company's needs.

         o        Proactively promote ethical and honest behavior within the
                  workplace.

         o        Assure responsible use of and control of all assets,
                  resources, and information of the Company.

         o        Promptly report to a member of the Company's Audit Committee
                  any violations of this Code.

         The Board of Directors shall have the sole and absolute discretionary
authority to approve any changes to or waiver from this Code. Any change or
waiver, including the grounds for such waiver, shall be promptly disclosed
through a filing with the SEC on Form 8-K or the Company's internet website;
provided, however, disclosure may only be made on the Company's internet website
in lieu of a report on Form 8-K if the Company has disclosed in its most recent
Form 10-K that it would disclose such events on the Company's internet website
and provided the website address.



                                                       Adopted December __, 2003



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                           COMMUNITY BANKSHARES, INC.
                        CERTIFICATION TO COMPLY WITH THE
                             CODE OF ETHICAL CONDUCT

         In my role as __________________ of Community Bankshares, Inc. (the
"Company"), I certify to you, the Board of Directors, that I will adhere to and
advocate the Code of Ethical Conduct.



Date:____________________________           By:
                                               --------------------------------

                                            Name:
                                                 ------------------------------

                                            Title:
                                                  -----------------------------