CBES Bancorp, Inc.

Ticker: CBES		1001N. Jesse James Road
Exchange: NASDAQ-Small Cap Market		Excelsior Springs, Maryland 64024
Industry: Financial		(816) 630-6711

Type of Shares:	Common Shares	Filing Date:	6/24/96
U.S. Shares:	1,207,500	Offer Date:	10/4/96
Non-U.S. Shares:	0	Filing Price:	$10.00
Primary Shares:	1,207,500	Offer Price:	$10.00
Secondary Shares:	0	Gross Spread:	$0.59
Offering Amount:	$12,075,000	Selling:
Expenses:	$525,000	Reallowance:
Shares Out After:	-

Manager	Tier	Phone
Trident Securities, Inc.	Lead Manager	(919) 781-8900

Auditor: KPMG Peat Marwick
	Audited Income	Latest Unaudited Income	Prior Unaudited Income		Balance Sheet
	6/30/95	3/31/96	3/31/95		3/31/96
Revenue:	$5.92	$5.64	$4.20	Assets:	$86.17
Net Income:	$0.16	$0.39	$0.03	Liabilities:	$78.29
EPS:				Equity:	$7.88
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year

Business Description

CBES Bancorp, Inc. was organized in June 1996 by Community Bank for the purpose of acquiring all of the outstanding capital stock of Community Bank to be issued in the Conversion. Immediately following the Conversion, the only significant assets off the Holding Company will be the capital stock of the Bank, the note evidencing its loan to fund the Bank's ESOP and approximately 50% of the net proceeds from the Conversion. Upon Conversion, the Holding Company initially will be a unitary savings and loan holding company. The business of the Holding Company initially will consist only of its business of Community Bank. The Holding Company has not engaged and, prior to the Conversion, will not engage in any material operations.

Use of Proceeds

The proceeds from the proposed offering will be used to fund the transition from a mutual to a stock bank holding company.

Last updated: 12/8/96