8-K

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                                  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): June 18, 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))

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

         On June 19, 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 June 18, 2008 of $0.06
per share. The cash dividend will be paid on July 31, 2008 to shareholders of
record at the close of business on July 16, 2008. For more information,
reference is made to the Company's press release dated June 19, 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 June 19, 2008



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                                   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:  June 19, 2008                          By: /s/ Scott W. Hamer
                                                   -----------------------------
                                                   Scott W. Hamer
                                                   Chief Executive Officer

EX-99.1

                                                                  EXHIBIT 99.1





Glen Ellyn, Illinois                               Contact:  Scott W. Hamer
June 19, 2008                                     Chief Executive Officer
Company Release                                   630-545-0900



                        COMMUNITY FINANCIAL SHARES, INC.
                             DECLARES CASH DIVIDEND

         Community Financial Shares, Inc. (OTCBB: CFIS) (the "Company"), the
holding company for Community Bank of Wheaton/Glen Ellyn (the "Bank"), announced
that its Board of Directors declared a quarterly cash dividend on June 18, 2008
of $0.06 per share on its common stock. The cash dividend will be paid on July
31, 2008 to shareholders of record at the close of business on July 16, 2008.

         Community Financial Shares, Inc. is a bank holding company
headquartered in Glen Ellyn, Illinois. Its primary subsidiary, Community Bank of
Wheaton/Glen Ellyn, maintains four full service offices in Glen Ellyn and
Wheaton. A new Community Bank office opened in November 2007 on the north side
of Wheaton, Illinois.

         For further information about the Company and the Bank visit them on
the world wide web at www.commbank-wge.com. In addition, information on the
Company's stock can be found at www.otcbb.com under the symbol CFIS.

         Statements contained in this news release which are not historical
facts, are forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995, Such forward-looking statements are
subject to risk and uncertainties which could cause actual results to differ
materially from those currently anticipated due to a number of factors, which
include, but are not limited to, factors discussed in documents filed by the
Company with the Securities and Exchange Commission from time to time.

         The Company does not undertake, and specifically disclaims any
obligation, to publicly release the result of any revisions which may be made to
any forward-looking statements to reflect events or circumstances after the date
of such statements or to reflect the occurrence of anticipated or unanticipated
events.