<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------
FORM 8-K
Current Report
---------------
Pursuant to Section 13 or 15d of the
Securities Exchange Act of 1934
---------------
Date of Report: July 3, 1996
---------------
Commission File No. 33-97778
Registrant: CAROLINA COMMUNITY BANCSHARES, INC.
A South Carolina Corporation
IRS Employer Identification No. 57-1024331
Address: 100 East Leitner Street
Latta, South Carolina 29565
Phone: 803-752-7139
<PAGE> 2
Item 4. Changes in Registrant's Certifying Accountant.
Francis & Company, CPAs, Atlanta, Georgia was previously the
independent auditor for Carolina Community Bancshares, Inc. and its
wholly-owned subsidiary. On July 1, 1996, that firm's appointment as
independent auditor was terminated and Elliot, Davis & Company, LLP,
Greenville, South Carolina was engaged as independent auditor for the year
ending December 31, 1996. The change was made because, in the opinion of the
board of directors, the Company could obtain comparable services from another
firm at a lower fee.
In connection with the audit of the fiscal period ended December 31,
1995, and the subsequent interim period through March 31, 1996 there were no
disagreements with Francis & Company, CPAs on any matter of accounting
principle or practice, financial statement disclosure, or audit procedure or
scope. Further, neither Carolina Community Bancshares, Inc. nor its subsidiary
or representative sought the advice of Elliot, Davis & Company, LLP on any
issue during the prior fiscal period.
Carolina Community Bancshares, Inc. has requested that Francis &
Company, CPAs furnish it with a letter addressed to the Securities & Exchange
Commission stating whether it agrees with the above statements. A copy of
Francis & Company, CPAs letter to the Securities & Exchange Commission is filed
as Exhibit 16.1 to the Form 8-k.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
16.1 Letter re change in Certifying Accountant.
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, in the City of Latta, State of South
Carolina, July 3, 1996.
CAROLINA COMMUNITY BANCSHARES, INC.
-----------------------------------
Registrant
By: /s/ R. Walton Brown
--------------------------------
R. Walton Brown, President
Date: July 3, 1996
2
<PAGE> 1
EXHIBIT 16.1
FRANCIS & CO., CPAS
July 5, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Carolina Community Bancshares, Inc.
Latta, SC File: 33-97778
Gentlemen:
We were previously the principal accountants for Carolina Community
Bancshares, Inc. and its wholly-owned subsidiary. In our report dated February
29, 1996, we reported on the consolidated financial statements of Carolina
Community Bancshares, Inc. for the year ended December 31, 1995. In a letter
dated July 1, 1996, Carolina Community Bancshares, Inc. notified us that our
appointment as principal accountant was terminated.
We have read Carolina Community Bancshares, Inc.'s statements included
under Item 4 of its Form 8-K, dated July 3, 1996, and we agree with such
statements.
Very truly yours,
/s/ Eddie Y. Francis
--------------------------------
Eddie Y. Francis
cc: R. Walt Brown, President
Carolina Community Bancshares, Inc.
