UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

        Date of Report (Date of earliest event reported): March 19, 2008
                                                          --------------

                        COMMUNITY FINANCIAL SHARES, INC.
                        --------------------------------
             (Exact name of registrant as specified in its charter)

         Delaware                       0-51296                36-4387843
         --------                       -------                ----------
(State or other Jurisdiction of         (Commission           (IRS Employer
incorporation or organization)          File Number)         Identification No.)

                 357 Roosevelt Road, Glen Ellyn, Illinois 60137
                 ----------------------------------------------
                    (Address of principal executive offices)

                                 (630) 545-0900
                                 --------------
              (Registrant's telephone number, including area code)

                                 Not Applicable
                                 --------------
          (Former name or former address, if changed since last report)


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))





ITEM 8.01     OTHER EVENTS.
              ------------

         On March 21, 2008, Community Financial Shares, Inc. (the "Company"),
the holding company for Community Bank of Wheaton/Glen Ellyn, announced that its
Board of Directors declared a quarterly cash dividend on March 19, 2008 of $0.06
per share. The cash dividend will be paid on April 30, 2008 to shareholders of
record at the close of business on April 16, 2008. For more information,
reference is made to the Company's press release dated March 21, 2008, a copy of
which is attached to this Report as Exhibit 99.1 and is furnished herewith.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.
              ---------------------------------

         (d)  Exhibits

              Number            Description
              ------            -----------

              99.1              Press Release dated March 21, 2008







                                   SIGNATURES

         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.



Dated: March 21, 2008             By: /s/ Eric J. Wedeen
                                      ------------------------------------------
                                      Eric J. Wedeen
                                      VICE PRESIDENT AND CHIEF FINANCIAL OFFICER