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<p ALIGN="CENTER">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</p>
<p ALIGN="CENTER">Washington, DC 20549</p>
<p ALIGN="CENTER"></p>
<b>
<p ALIGN="CENTER">FORM 8-K</p>
</b>
<p ALIGN="CENTER">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)<br>
OF THE SECURITIES EXCHANGE ACT OF 1934</p>
<p ALIGN="CENTER"></p>
<p ALIGN="CENTER">Date of Report (Date of earliest event reported) <u>June 13,
2007</p>
</u><b>
<p ALIGN="CENTER">CALVIN B. TAYLOR BANKSHARES, INC.<br>
</b>
(Exact name of registrant as specified in its charter)</p>
<p ALIGN="CENTER"><u>Maryland</u> <u>000-50047</u> <u>52-1948274
</u><br>
(State of incorporation) (Commission file number) (IRS Employer
Identification No.)</p>
<p ALIGN="CENTER"></p>
<u>
<p ALIGN="CENTER">24 North Main Street, Berlin, Maryland 21811<br>
</u>
Address of principal executive offices</p>
<p ALIGN="CENTER"></p>
<u>
<p ALIGN="CENTER">(410) 641-1700<br>
</u>
(Registrant&#8217;s telephone number, including area code)</p>
<p ALIGN="CENTER"></p>
<p ALIGN="CENTER">N/A<br>
(Former Name or Former Address, if Changed Since Last Report)</p>
<p align="center"><p style="page-break-after:always"></p>
<b>
<p>Section 5 &#8211; Corporate Governance and Management</p>
<p>Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.</p>
</b>
<p ALIGN="JUSTIFY">On June 13, 2007, at a regularly scheduled monthly meeting,
the Board of Directors of Calvin B. Taylor Bankshares, Inc., voted to amend the
Company&#8217;s corporate bylaws. The proposal for amendment was not disclosed in a
proxy or information statement filed by the Company.</p>
<p ALIGN="JUSTIFY"></p>
<p ALIGN="JUSTIFY">Effective June 13, 2007, the mandatory retirement age, after
which a director may not stand for re-election, was raised from 70 years of age
to 72 years of age.</p>
<p ALIGN="JUSTIFY"></p>
<p ALIGN="JUSTIFY">Section 2.04 of Article II &#8211; Board of Directors, as amended,
reads:</p>
<dir>
	<dir>
		<b>
		<p ALIGN="JUSTIFY">Section 2.04 <i>Qualification</i>.</b><i> </i>No
		person shall stand for election as a director who would be 72 years of
		age on or before the date of the election; provided, that any person who
		is an incorporator or a member of the original Board of Directors may be
		elected to serve for three terms as director (after the initial term
		specified in the Corporation&#8217;s Articles of Incorporation).</p>
		<p ALIGN="JUSTIFY"></p>
	</dir>
</dir>
<p ALIGN="JUSTIFY">Section 2.04 of Article II &#8211; Board of Directors, prior to
amendment read:</p>
<dir>
	<dir>
		<b>
		<p ALIGN="JUSTIFY">Section 2.04 <i>Qualification</i>.</b><i> </i>No
		person shall stand for election as a director who would be 70 years of
		age on or before the date of the election; provided, that any person who
		is an incorporator or a member of the original Board of Directors may be
		elected to serve for three terms as director (after the initial term
		specified in the Corporation&#8217;s Articles of Incorporation).<i> </p>
		</i>

		<p>&nbsp;</p>
	</dir>
</dir>
<p ALIGN="CENTER">SIGNATURES</p>
<p ALIGN="JUSTIFY">Pursuant to the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.</p>
<p align="center"><b>Calvin B. Taylor Bankshares, Inc.</b><u> </p>
</u>
<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date: <u>June 15, 2007</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:<u></u><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Reese F. Cropper, Jr.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chairman of the Board of Directors</p>
<p ALIGN="JUSTIFY"></p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">&nbsp;</p>
<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date: <u>June 15, 2007</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: <u></u><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Raymond M. Thompson<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President &amp; Chief Executive Officer</p>
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{"company-data": {"conformed-name": "TAYLOR CALVIN B BANKSHARES INC", "cik": "0001003986", "assigned-sic": "6022", "irs-number": "520505410", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50047", "film-number": "07922848"}, "business-address": {"street1": "24 NORTH MAIN ST", "city": "BERLIN", "state": "MD", "zip": "21811", "phone": "4106411700"}, "mail-address": {"street1": "24 NORTH MAIN STREET", "city": "BERLIN", "state": "MD", "zip": "21811"}}
UNITED STATES
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)
June 13,
2007
CALVIN B. TAYLOR BANKSHARES, INC.
(Exact name of registrant as specified in its charter)
Maryland
000-50047
52-1948274
(State of incorporation) (Commission file number) (IRS Employer
Identification No.)
24 North Main Street, Berlin, Maryland 21811
Address of principal executive offices
(410) 641-1700
(Registrant's telephone number, including area code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Section 5 – Corporate Governance and Management
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On June 13, 2007, at a regularly scheduled monthly meeting,
the Board of Directors of Calvin B. Taylor Bankshares, Inc., voted to amend the
Company's corporate bylaws. The proposal for amendment was not disclosed in a
proxy or information statement filed by the Company.
Effective June 13, 2007, the mandatory retirement age, after
which a director may not stand for re-election, was raised from 70 years of age
to 72 years of age.
Section 2.04 of Article II – Board of Directors, as amended,
reads:
Section 2.04
Qualification
.
No
		person shall stand for election as a director who would be 72 years of
		age on or before the date of the election; provided, that any person who
		is an incorporator or a member of the original Board of Directors may be
		elected to serve for three terms as director (after the initial term
		specified in the Corporation's Articles of Incorporation).
Section 2.04 of Article II – Board of Directors, prior to
amendment read:
Section 2.04
Qualification
.
No
		person shall stand for election as a director who would be 70 years of
		age on or before the date of the election; provided, that any person who
		is an incorporator or a member of the original Board of Directors may be
		elected to serve for three terms as director (after the initial term
		specified in the Corporation's Articles of Incorporation).
SIGNATURES
Pursuant to the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.
Calvin B. Taylor Bankshares, Inc.
Date:
June 15, 2007
By:
/s/ Reese F. Cropper, Jr.
Chairman of the Board of Directors
Date:
June 15, 2007
By:
/s/ Raymond M. Thompson
President & Chief Executive Officer