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
April 10, 1997 0-21845
Date of Report Commission File Number
(Date of earliest event reported
Wilshire Financial Services Group Inc.
(Exact name of registrant as specified in its charter)
Delaware 93-1223879
(State or other jurisdiction of incorporation) (I.R.S. Employer
Identification
Number)
1776 SW Madison Street
Portland, Oregon 97205
(Address of principle executive office (Zip Code)
(503) 223-5600
Registrant's telephone number, including area code
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Item 4. Changes in Registrant's Certifying Accountant.
On April 3, 1997, Wilshire Financial Services Group Inc. (the
"Company") replaced Deloitte & Touche LLP as its independent
auditors with Arthur Andersen LLP. The decision to change
auditors was recommended by the Audit Committee of the Board of
Directors and approved by the Board of Directors. The decision
was based on Arthur Andersen's work with the Company over the
past year, which included loan sale and securitization
structuring, domestic and international tax consulting,
international expansion planning and assisting the Company's
savings and loan subsidiaries with their regulatory improvement
activities. These services resulted in a significant portion of
the fees paid to all public accounting firms during the past
year. It was the Board's view that their appointment to the role
of independent accountants will enhance the cohesiveness and
service provided by one firm as the Company pursues its long-term
goals and objectives. The firm's election as the Company's
independent accountants is expected to be ratified at the annual
meeting on May 12, 1997.
During the past two years, there have been no disagreements with
Deloitte & Touche LLP regarding any matter of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedure. The Auditors' Report for the years
ended December 31, 1996 and 1995 was unqualified with an emphasis
paragraph highlighting the Company's savings and loan
subsidiaries' regulatory agreements.
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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 hereunto duly authorized.
WILSHIRE FINANCIAL SERVICES GROUP INC.
By: /s/ Chris Tassos
Chris Tassos
Chief Financial Officer
Date: April 10, 1997
