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SEC FILE NUMBER
000-25345
 
CUSIP NUMBER
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 12b-25

NOTIFICATION OF LATE FILING



(Check One:)      x  Form 10-K        o Form 20-F        o  Form 11-K        o  Form 10-Q        o  Form N-SAR          o  Form N-CSR
 
For Period Ended:  December 31, 2005   
 
o
Transition Report on Form 10-K
o
Transition Report on Form 20-F
o
Transition Report on Form 11-K
o
Transition Report on Form 10-Q
o
Transition Report on Form N-SAR
 
For the Transition Period Ended: ____________________
 


Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
 

 
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
 
 
 

PART I - REGISTRANT INFORMATION

Community Capital Bancshares, Inc.          
Full Name of Registrant

___________________________
Former Name if Applicable

2815 Meredyth Drive         
Address of Principal Executive Office (Street and Number)

Albany, Georgia 31707           
City, State and Zip Code

PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

x
(a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense.
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c) The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.



The Registrant is unable to file its Annual Report on Form 10-KSB for the year ended December 31, 2005 by March 31, 2006 without unreasonable effort and expense. Specifically, on March 28, 2006, the Registrant’s management identified an error in the computation of the footnote information regarding the number of outstanding stock options under the Registrant’s equity compensation plans and the amount of pro forma net income had the Company applied the fair value reconition provisions of FASB Statement No. 123, Accounting for Stock-Based Compensation, to its stock-based compensation. This error did not affect the actual amount of expense recognized in 2005 in connection with the Registrant’s equity compensation plans. Correction of the error delayed the delivery of completed financial statements to the Registrant’s independent accountants.
 
 
(Attach Extra Sheets if Needed)
PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification
 
 
Lyn G. Schroeder
Powell Goldstein LLP
  
(404)
  
572-6904
(Counsel to Registrant)
  
(Area Code)
  
(Telephone Number)
 
 
(2)
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).             x  Yes              o No
 
 
(3)
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?              x  Yes              o No
 
If so, attach an explanation of the anticipated changed, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
 
The Registrant anticipates that its net income for the year ended December 31, 2005 will decrease by approximately $743,000 from $856,000 for the year ended December 31, 2004 to approximately $113,000 for the year ended December 31, 2005. The primary reason for the decrease in net income is the Registrant’s loss of $501,000 (after tax) on the sale of an investment security and an increase in the provision for loan and lease losses of $1.5 million (after tax) during 2005 compared to 2004.
 
 


Community Capital Bancshares, Inc.
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

Date April 3, 2006
By /s/ David J. Baranko
 
Print Name David J. Baranko
 
Title Chief Financial Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.

 
 
ATTENTION
 
 
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).
 

GENERAL INSTRUCTIONS

1.
This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act of 1934.
 
2.
One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files.
 
3.
A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered.
 
4.
Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amended notification.
 
5.
Electronic Filers. This form shall not be used by electronic filers unable to timely file a report solely due to electronic difficulties. Filers unable to submit a report within the time period prescribed due to difficulties in electronic filing should comply with either Rule 201 or Rule 202 of Regulation S-T (§ 232.201 or § 232.202 of this chapter) or apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T (§ 232.13(b) of this chapter).