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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
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) October 8, 1999
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COMMUNITY BANCORP INC.
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(Exact name of Registrant as specified in its charter)
Delaware 000-26505 33-0859334
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(State or other jurisdiction (File number) (I.R.S. Employer
of incorporation) Identification No.)
130 West Fallbrook Street, Fallbrook, CA 92028
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(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code: (760) 723-8811
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(Former name or former address, if changed since last report)
Page 1 of 5 pages
Exhibit Index page 4
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Item 4.CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On October 8, 1999, the Company dismissed KPMG LLP as the Company's
certifying accountant. The decision to dismiss KPMG LLP was made by the
Board of Directors upon the recommendation of the Audit Committee.
For the years ending December 31, 1998 and 1997, the audit report of
KPMG LLP did not contain an adverse opinion nor a disclaimer of opinion on
the financial statements of Fallbrook National Bank ("FNB"), the subsidiary
of the Company (the Company commenced operation on June 25, 1999 in a bank
holding company reorganization in which FNB became a subsidiary of the
Company and the former shareholders of FNB became shareholders of the Company
in an exchange on a one-share-for-one-share-basis). There were also no
qualifications or modifications as to uncertainty, audit scope or accounting
principles. Additionally, during the two most recent fiscal years and the
subsequent interim period preceding their dismissal, there have been no
disagreements with KPMG LLP on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures.
On October 8, 1999, the Company engaged Deloitte & Touche LLP as its
independent accountants (as approved by the Board of Directors and
recommended by its Audit Committee).
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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.
Dated: October 18, 1999 COMMUNITY BANCORP INC.
By: /s/ THOMAS E. SWANSON
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Thomas E. Swanson
President
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION PAGE NO.
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16 Letter from KPMG LLP to the Securities and
Exchange Commission, dated October 18, 1999
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EXHIBIT 16
October 18, 1999
Securities and Exchange Commission
450 5th Street, N.W.
Washington, DC 20549
Ladies and Gentlemen:
We were previously principal accountants for Community Bancorp, Inc. and
their wholly owned subsidiary Fallbrook National Bank and, under the date
of January 13, 1999, we reported on the financial statements of Fallbrook
National Bank as of December 31, 1998 and 1997 and for the years then ended.
On October 8, 1999, our appointment as principal accountants was terminated. We
have read the Company's statements included under Item 4 of its Form 8-K
dated October 18, 1999 and we agree with such statements, except that we are
not in a position to agree or disagree with the Company's statement that the
decision to dismiss KPMG LLP was made by the Company's Board of Directors
upon the recommendation of the Audit Committee nor that the Company engaged
Deloitte & Touche LLP as its independent accountants as approved by the
Company's Board of Directors and recommended by its Audit Committee.
Very truly yours,
/s/ KPMG LLP
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