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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 (Date of earliest event reported): July 11, 2000
CHESTER BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
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<S> <C> <C>
DELAWARE 000-21167 37-1359570
(State or Other Jurisdiction of (Commission File Number) (IRS Employer Identification Number)
Incorporation)
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1112 State Street, Chester, Illinois 62233
(Address of Principal Executive Office)
Registrant's telephone number, including area code: (618) 826-5038
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ITEM 4. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
On July 11, 2000, Chester Bancorp, Inc. (the "Company") dismissed
KPMG LLP as the Company's independent accountants and appointed McGladrey &
Pullen, LLP as its new independent accountants. The decision to change
accountants was approved by the Audit Committee of the Board of Directors of the
Company.
During each of the past two fiscal years, the opinion of KPMG LLP did
not contain any adverse opinion or a disclaimer of opinion and was not qualified
or modified as to uncertainty, audit scope or accounting principles. During the
preceding two fiscal years (and the subsequent interim period) the Company had
no disagreements with KPMG LLP on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or procedure, which
disagreement(s), if not resolved to the satisfaction of KMPG LLP, would have
caused it to make reference to the subject matter of the disagreement(s) in
connection with its report. None of the events described at Item 304(a)(1)(v) of
Regulation S-K took place within the preceding two fiscal years nor in the
subsequent interim period.
McGladrey & Pullen, LLP's appointment is effective July 11, 2000.
During the preceding two fiscal years and the subsequent interim period prior to
such appointment, the Company did not consult with McGladrey & Pullen, LLP
regarding the application of generally accepted accounting principles to a
specific transaction, either proposed or completed, or the type of audit opinion
that might be rendered on the Company's financial statements. Because there were
no disagreements or reportable events (as defined in Item 304(a)(2) of
Regulation S-K), the Company did not consult McGladrey & Pullen, LLP in respect
to those matters during that time.
The Company provided KPMG LLP with a copy of this report prior to
filing it with the Securities and Exchange Commission ("SEC"). The Company
requested that KPMG LLP furnish the Company with a letter to the SEC stating
whether KPMG LLP agrees with the above statements and, if not, stating the
respects in which it does not agree. A copy of KPMG's letter dated July 17, 2000
is filed as Exhibit 16.1 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) EXHIBITS
16.1 Letter from KPMG LLP to the Company dated July 17, 2000
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SIGNATURE
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 hereunto duly authorized.
Chester Bancorp, Inc.
Date: July 17, 2000 By: /s/ Michael W. Welge
Michael W. Welge
Chairman of the Board, President and
Chief Financial Officer
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