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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) January 11, 1999
GRAND CENTRAL FINANCIAL CORP.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-25945 34-1877137
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(State or other) (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
601 Main Street, Wellsville, Ohio 43968
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (330) 532-1517
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Item 4. Changes in Registrant's Certifying Accountant
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a.Robb, Dixon, Francis, Davis, Oneson & Co. was previously the principal
accountants for Central Federal Savings and Loan Association of
Wellsville ("Central Federal"), the wholly owned subsidiary of Grand
Central Financial Corp. (the "Company"). On January 11, 1999, that firm's
appointment as principal accountants was terminated by the Company. The
decision to change accountants was recommended by the audit committee and
approved by the board of directors. In connection with the audits of the
two fiscal years ended December 31, 1997 and the subsequent period
through January 11, 1999, there were no disagreements with Robb, Dixon,
Francis, Davis, Oneson & Co. on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedures, which disagreements if not resolved to their satisfaction
would have caused them to make reference to the subject matters of the
disagreements in connection with their opinion. The Company requested
that Robb, Dixon, Francis, Davis, Oneson & Co. furnish the Company with a
letter, as promptly as possible, addressed to the Securities and Exchange
Commission, stating whether it agrees with the statements made in this
Item 4, and if not, stating the respects in which they do not agree. This
letter is not yet available, but will be filed as an exhibit to an
amendment to this Report.
b.On January 11, 1999, the Company engaged Crowe, Chizek and Company,
LLP as the Company's principal accountants.
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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 thereunto duly authorized.
GRAND CENTRAL FINANCIAL CORP.
Date: January 15, 1999 By: /s/ William R. Williams
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William R. Williams
President and Chief Executive Officer
