UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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)~~: ~~August~~June 241, ~~2006~~ 2007

COMMERCIAL BANKSHARES, INC. ~~(Exact Name of Registrant as Specified in Its Charter)~~

~~Florida~~ (~~State~~Exact orName ~~Other~~of ~~Jurisdiction~~Registrant ofas ~~Incorporation~~Specified in Its Charter)

33-67254		65-0050176
(Commission File Number)		(IRS Employer Identification No.)

Delaware

(State or Other Jurisdiction of Incorporation)


033-67254		65-0050176
(Commission File Number)		(IRS Employer Identification No.)


1550 S.W. 57th Avenue, Miami, Florida		33144
(Address of Principal Executive Offices)		(Zip Code)

(305) 267-1200 ~~(Registrant's Telephone Number, Including Area Code)~~

~~N/A~~ (~~Former~~Registrant’s ~~Name~~Telephone ~~or Former Address~~Number, ifIncluding ~~Changed~~Area ~~Since Last Report~~Code)

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 (see General Instruction A.2. below):

~~___~~ ¨ 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 2.01. ~~Other~~Completion ~~Events~~of Acquisition or Disposition of Assets.

On ~~August 24~~ June 1, ~~2006~~2007 ~~Commercial~~at ~~Bankshares,~~8:00 ~~Inc~~p.m., ~~the parent holding company of~~ Commercial ~~Bank~~ ~~of Florida~~Bankshares, ~~announced~~Inc. a(the ~~stock~~“Company”) ~~repurchase~~completed ~~plan~~its ~~whereby~~merger upwith toThe $4Colonial ~~million can be used to buy shares of Commercial Bankshares~~BancGroup, Inc., ~~common~~a ~~stock~~Delaware ~~in open market~~corporation ~~and~~(“Colonial”), ~~negotiated~~whereby ~~transactions during~~ the ~~next~~Company 24merged ~~months. This~~with ~~represents approximately~~and 5%into ofColonial, ~~the~~with ~~Company's~~Colonial ~~$86~~remaining ~~million~~as inthe ~~shareholders'~~surviving ~~equity~~corporation ~~as of July 31, 2006~~(“Merger”).

AThe ~~copy~~Agreement and Plan of Merger (“Merger Agreement”) was previously filed by the ~~press~~Company ~~release~~on isa ~~being~~Form ~~furnished~~8-K asdated ~~exhibit~~January 23, ~~99.1~~2007 and should be referred to when reading the following summary information included in this ~~form~~Current Report on Form 8-K.

~~Item~~At the closing of the Merger, the Company’s outstanding shares were canceled and converted into the right to receive either $49.00 in 9cash or 2.010214 ~~Financial~~shares ~~Statements~~of ~~and~~Colonial common stock, par value $2.50 per share, or any combination thereof at the election of each shareholder, provided that pursuant to the Merger Agreement, the aggregate Colonial common stock consideration was fixed at ~~Exhibits~~50% of the number of outstanding shares of the Company’s common stock multiplied by 2.0214. As a result of an aggregate overelection for stock by the Company’s shareholders, each shareholder’s cash/stock election is subject to adjustment, on a pro rata basis, to the extent of such overelection for stock.

~~(c)~~Holders of outstanding employee stock option plan and performance stock ~~Exhibits~~option plan options to purchase this Company’s common stock received $49.00 in cash per such outstanding option, less the exercise price thereof. Holders of outstanding outside director stock option plan options received $49.00 cash per such outstanding option.

~~99.1 Press~~The ~~Release,~~Company ~~dated~~will ~~August~~promptly 24file a Form 15, ~~2006~~ deregistering its shares for purposes of Exchange Act reporting.

Item 9.01. Financial Statements and Exhibits.

(d)

Exhibits


Exhibit No.		Description

2.1		Agreement and Plan of Merger by and among Commercial Bankshares, Inc. and The Colonial BancGroup, Inc., dated as of January 23, 2007, incorporated by reference to the Commercial Bankshares’ Current Report on
		Form 8-K, dated January 23, 2007.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the ~~registrant~~ Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COMMERCIAL BANKSHARES, INC. Date: August 25, 2006 /s/Barbara E. Reed Barbara E. Reed Senior Vice President and Chief Financial Officer


June 1, 2007				COMMERCIAL BANKSHARES, INC.

				/s/ Joseph W. Armaly
				Joseph W. Armaly
				Chief Executive Officer

Filing Compare · COMMERCIAL BANKSHARES INC