<PAGE>
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: August 6, 1996
Commission File Number 0-26960
------------------------------
IMPERIAL THRIFT AND LOAN ASSOCIATION
------------------------------------
(Exact name of registrant as specified in its charter)
California 95-2864759
- ------------------------------- ----------
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
700 North Central Avenue, Suite 600, Glendale, California 91203
- ------------------------------------------------------------------------
(Address of Principal Executives Offices) (Zip Code)
(818) 551-0600
- --------------
(Registrant's telephone number, including area code)
N/A
- -------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant
- ------------------------------------------------------
(a) Previous independent accountants
(i) On July 31, 1996, Imperial Thrift and Loan Association (the
"Company") dismissed Grant Thornton LLP ("Grant") as its independent
accountants.
(ii) The reports of Grant on the financial statements for the past two
fiscal years did not contain an adverse opinion or a disclaimer of
opinion and were not qualified or modified as to uncertainty, audit
scope or accounting principles.
(iii) The authority to change the independent accountants was provided to
the Audit Committee of the Board of Directors by the full Board of
Directors and approved by the Audit Committee on July 31, 1996.
(iv) In connection with its audits for the two most recent fiscal years
and through July 31, 1996, there have been no disagreements with
Grant on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which
disagreements, if not resolved to the satisfaction of Grant, would
have caused them to make reference thereto in their report on the
financial statements for such years.
(v) During the two most recent fiscal years and through July 31, 1996,
there have been no reportable events (as defined in Regulation S-K
Item 304(a)(1)(v)) with Grant.
(vi) The Company requested that Grant furnish a letter addressed to the
Securities and Exchange Commission stating that it agrees with the
above statements. A copy of such letter, dated August 6, 1996, is
filed as Exhibit 16 to this Form 8-K.
(b) On July 31, 1996, the Company engaged the firm of Arthur Andersen as
independent certified accountants for the fiscal year ending December 31,
1996.
Item 7. Financial Statements and Exhibits
- ------------------------------------------
(c) Exhibits
16 Letter regarding change in certifying accountant:
-------------------------------------------------
Letter of Grant Thornton LLP dated August 6, 1996.
<PAGE>
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 thereunto duly authorized.
Imperial Thrift and Loan Association
8/6/96 /s/ Michael A. Sicuro
Date: __________________ By: ____________________________
Michael A. Sicuro
Senior Vice President and
Chief Financial Officer
<PAGE>
EXHIBIT 16
[LETTERHEAD OF GRANT THORNTON]
August 6, 1996
Securities and Exchange Commission
Washington, D.C. 20549
Re: Imperial Thrift and Loan Association
File No. 0-26960
Dear Sir or Madam:
We have read Item 4(a) of the Form 8-K of Imperial Thrift and Loan Association
dated August 6, 1996, and agree with the statements contained therein.
Very truly yours,
/s/ Grant Thornton LLP
