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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8 - K
Current Report Pursuant To Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported)
______________________
Commission File Number 2-81060-S
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UNITED BANCORP
(Exact name of Registrant as specified in its Charter)
OREGON
(State or other jurisdiction of incorporation or organization)
555 S.E. KANE STREET
ROSEBURG, OREGON
(Address of principal executive offices)
93-0612062
(IRS Employer Identification Number)
97470
(Zip Code)
(541) 440-2629
(Registrants' telephone number, including area code)
NOT APPLICABLE
(Former name, former address and former fiscal year,
if changed since last report.)
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ITEM 4 - CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS
Section S-K, Item 304, Changes in and Disagreements with accountants on
Accounting and Financial Disclosure.
(a) (1) (i) The former accountant, Coopers & Lybrand L.L.P. was
dismissed on April 23, 1996.
(ii) The reports on the financial statements for the audited
years 12/31/94 and 12/31/95 did not contain an adverse
opinion or a disclaimer of opinion nor were they qualified
or modified as to uncertainty, audit scope or accounting
principles.
(iii) A. The Audit Committee recommended to change accountants
to Knight, Vale & Gregory, Inc. P.S..
(iv) During the two most recent fiscal years ended 12/31/94 and
12/31/95 and the subsequent interim period, there were no
disagreements with the former accountant on any matter of
accounting principles or practices, financial statement
disclosures, or auditing scope or procedure.
(iv) A. N/A
(iv) B. N/A
(iv) C. N/A
(v) (A) N/A
(v) (B) N/A
(v) (C) N/A
(v) (D) N/A
(a) (2) Knight, Vale & Gregory, Inc. P.S. has been recommended on
March 26, 1996 by the Audit Committee and engaged April 23,
1996 by ratification of Shareholders.
(i) N/A
(ii) (A) N/A
(ii) (B) N/A
(ii) (C) N/A
(ii) (D) N/A
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(a) (3) Coopers & Lybrand L.L.P., and Knight, Vale & Gregory, Inc.
P.S. have received a copy of this disclosure, and have
addressed the Commission stating they are in agreement with
this Form 8-K as noted in exhibits A and B.
(b) (1) N/A
(b) (2) N/A
(b) (3) N/A
ITEM 5 - OTHER EVENTS
On March 26, 1996, the Registrant's Board of Directors elected Clint
Newell to the Board of Directors to fill the vacancy left when David
Geddes retired in January of 1996. Mr. Newell has thirteen years of
experience in the automobile industry, and he has been the co-owner of
Clint Newell Motors since 1989.
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Exhibit A
A. 1. Letter from Coopers & Lybrand L.L.P.
Coopers & Lybrand
1300 Southwest Fifth Avenue, Suite 2700
Portland, Oregon 97201-5687
April 29, 1996
Ms. Linda Ganim, Treasurer
United Bancorp
P.O. Box 1007
Roseburg, Oregon 97470
Dear Ms. Ganim:
This is to confirm that the client-auditor relationship between
United Bancorp (Commission File Number 2-81060-S) and Coopers &
Lybrand L.L.P. has ceased.
Sincerely,
Coopers & Lybrand L.L.P.
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cc: Office of the Chief Accountant
SECPS Letter File
Securities and Exchange Commission
Mail Stop 11-3
450 Fifth Street, N.W.
Washington, D.C. 20549
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A. 2. Letter from Coopers & Lybrand L.L.P.
Coopers & Lybrand
1300 Southwest Fifth Avenue, Suite 2700
Portland, Oregon 97201-5687
April 29, 1996
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statements made by United Bancorp (copy attached),
which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K report for the
month of April 1, 1996. We agree with the statements concerning our
Firm in such Form 8-K.
Very truly yours,
Coopers & Lybrand L.L.P.
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Exhibit B
B. 1. Letter from Knight, Vale & Gregory, Inc. P.S.
Knight, Vale & Gregory, Inc. P.S.
1145 Broadway, Plaza Suite 900
Tacoma, Washington 98402-3523
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We were engaged on April 23, 1996 as independent accountants
to audit the 1996 consolidated financial statements of United
Bancorp and Subsidiaries. We have read United Bancorp's statements
included under Item 4 of its Form 8-K for April 30, 1996, and we
agree with such statements.
Knight, Vale & Gregory, Inc. P.S.
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Tacoma, Washington
April 29, 1996
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SIGNATURES
Pursuant to the requirements of Section 13 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 therewith duly authorized.
UNITED BANCORP (REGISTRANT)
By: _______________________________ April 30, 1996
David A Jackson, Chairman
of the Board of Directors
_______________________________ April 30, 1996
M. John Loosley, Vice Chairman,
President, and Director
Pursuant to the requirements of the Securities and Exchange Act of 1934, this
report has been signed by the following persons in the capacities and on the
dates indicated.
_______________________________ April 30, 1996
David A Jackson, Chairman of the
Board of Directors
_______________________________ April 30, 1996
M. John Loosley, Vice Chairman
President, and Director
_______________________________ April 30, 1996
Gary L. Kjensrud, Vice President and Director
_______________________________ April 30, 1996
Linda A. Ganim, Treasurer, Chief Financial
Officer and Principal Accounting Officer
_______________________________ April 30, 1996
William C. Stiles, Vice President and Director
_______________________________ April 30, 1996
Lance C. Short, Director
_______________________________ April 30, 1996
Lauren D. Young, Director
_______________________________ April 30, 1996
Peter Nilsen, Secretary
_______________________________ April 30, 1996
Rickar D. Watkins, Director
_______________________________ April 30, 1996
Brian Pargeter, Director
_______________________________ April 30, 1996
Pete Martini, Director
_______________________________ April 30, 1996
Clint Newell, Director
