KINNARD INVESTMENTS INC
8-K/A, 1997-07-18
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549



                               FORM 8-K/A (No. 2)


                           Current Report Pursuant to
                           Section 13 or 15(d) of the
                         Securities Exchange Act of 1934




         Date of report (Date of earliest event reported): June 30, 1997


                            Kinnard Investments, Inc.
             (Exact Name of Registrant as Specified in its Charter)


                                    Minnesota
                 (State or Other Jurisdiction of Incorporation)



         0-9377                                                 41-0972952
(Commission File Number)                            (I.R.S. Identification No.)

                             920 Second Avenue South
                          Minneapolis, Minnesota 55402
               (Address of Principal Executive Offices; Zip Code)


                                 (612) 370-2700
              (Registrant's Telephone Number, Including Area Code)

                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)


<PAGE>


Item 7.  Financial Statements and Exhibits.

         (a)  Financial statements of businesses acquired.  None.
         (b)  Pro forma financial information.  None.
         (c)  Exhibits.
              16.  Letter from Deloitte & Touche LLP

                                   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.

                                      KINNARD INVESTMENTS, INC.


                                      By  /s/ Daniel R. Sass
                                         Daniel R. Sass, Chief Financial Officer
Date:  July 18, 1997


<PAGE>







                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  EXHIBIT INDEX

                                       to

                 June 30, 1997 Form 8-K/A (No. 2) Current Report


                            KINNARD INVESTMENTS, INC.



Exhibit Index                       Description

      16                            Letter from Deloitte & Touche LLP 
                                      






July 18, 1997

Securities and Exchange Commission
Mail Stop 9-5
450 5th Street, N.W.
Washington, D.C.  20549

Dear Sirs/Madams:

We have read and agree with the  comments  in the first two  paragraphs  of Item
4(a) of Form 8-K/A (No. 1) of Kinnard Investments,  Inc. dated June 30, 1997. We
have no basis for agreeing or disagreeing  with the third paragraph of Item 4(a)
or with Item 4(b). This letter only relates to the Form 8-K/A (No. 1) dated June
30, 1997, and not to the previously filed 8-K dated June 30, 1997 given that the
Form 8-K/A (No. 1) supersedes the previously filed Form 8-K.

Yours truly,

/s/ Deloitte & Touche LLP
Deloitte & Touche LLP



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