UNITED STATES
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
March 7, 1997
FARMERS CAPITAL BANK CORPORATION
______________________________________________________
(Exact name of registrant as specified in its charter)
Kentucky
______________________________________________
(State of other jurisdiction of incorporation)
0-14412 61-1017851
__________________________ ____________________________________
(Commission File Number) (I.R.S. Employer Identification No.)
P.O. Box 309
Frankfort, Kentucky 40602
________________________________________ __________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(502) 227-1600
Not applicable
_____________________________________________________________
(Former name or former address, if changed since last report)
INFORMATION TO BE INCLUDED IN THE REPORT
Item 4. Changes in Registrant's Certifying Accountant
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On February 28, 1997, Farmers Capital Bank Corporation (the "Registrant")
engaged the accounting firm of KPMG Peat Marwick LLP as principal accountants,
subject to the approval of the Registrant's shareholders. KPMG Peat Marwick LLP
replaces Coopers & Lybrand L.L.P. (the "Former Accountant") as of the date
reported above. The change in the Registrant's independent accountants was the
result of a formal proposal process involving several accounting firms. The
decision to change accountants was approved by the Registrant's Board of
Directors.
During the two most recent fiscal years and the subsequent interim period prior
to February 28,1997, there have been no disagreements with Coopers & Lybrand
L.L.P. on any matter of accountingprinciples or practices, financial statement
disclosure, or auditing scope or procedure or any reportable events.
Coopers & Lybrand L.L.P.'s report on the consolidated financial statements for
the past two years contained no adverse opinion or disclaimer of opinion and was
not qualified or modified as to uncertainty, audit scope or accounting
principles.
None of the following events has occurred within the Registrant's two most
recent fiscal years or the subsequent interim period preceding the change in
accountants:
(A) the Former Accountant has not advised the Registrant that the internal
controls necessary for the Registrant to develop reliable financial
statements do not exist;
(B) the Former Accountant has not advised the Registrant that information
had come to the accountant's attention that led it to no longer be
able to rely on management's representations, or that made it unwilling
to be associated with the financial statements prepared by management;
(C) (1) the Former Accountant has not advised the Registrant of the need to
expand significantly the scope of its audit, or that information has
come to the accountant's attention that if further investigated could
(i) materially impact the fairness or reliability of either a
previously issued audit report or the underlying financial statements,
or the financial statements issued or to be issued covering the fiscal
periods subsequent to the date of the most recent financial statements
covered by an audit report (including information that could prevent it
from rendering an unqualified report on those financial statements), or
(ii) cause it to be unwilling to rely on management's representations
or be associated with the Registrant's financial statements, and (2)
due to the accountant's dismissal, or for any other reason, the
accountant did not so expand the scope of its audit or conduct such
further investigation; or
(D) (1) the Former Accountant has not advised the Registrant that
information has come to the accountant's attention that it concluded
materially impacts the fairness or reliability of either (i) a
previously issued audit report or the underlying financial statements,
or (ii) the financial statements issued or to be issued covering the
fiscal periods subsequent to the date of the most recent financial
statements issued or to be issued covered by an audit report (including
information that, unless resolved to the accountant's satisfaction,
would prevent it from rendering an unqualified audit report on those
financial statements), and (2) due to the accountant's dismissal, or
for any other reason, the issue has not been resolved to the
accountant's satisfaction prior to its dismissal.
During the two most recent fiscal years, and the subsequent interim period prior
to engaging KPMG Peat Marwick LLP, neither the Registrant, nor anyone on its
behalf, consulted KPMG Peat Marwick LLP regarding (i) either the application
of accounting principles to a specified transaction, either completed or
proposed, or the type of audit opinion that might be rendered on the
Registrant's financial statements, where either a written report was provided to
the Registrant or oral advice was provided, that KPMG Peat Marwick LLP concluded
was an important factor considered by the Registrant in reaching a decision as
to the accounting, auditing or financial reporting issue; or (ii) any matter
that was either the subject of a disagreement (as defined in paragraph 304(a)(1)
(iv) of Regulation S-K and the related instructions) or a reportable event (as
described in paragraph 304(a)(1)(v) of Regulation S-K).
The Registrant has requested that Coopers & Lybrand L.L.P. furnish it with a
letter addressed to the SEC stating whether it agrees with the above statements.
A copy of Coopers & Lybrand L.L.P.'s letter to the SEC dated March 5, 1997 is
attached as an exhibit to this report.
Item 7. Financial Statements and Exhibit
_________________________________________
C. Exhibit
The exhibit listed on the Exhibit Index is filed as a part of this Report.
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.
Farmers Capital Bank Corporation
March 7, 1997 By: /s/ Charles S. Boyd
________________________________
Charles S. Boyd
President and Chief Executive Officer
Exhibit Index
_____________
Exhibit
_______
(16) Letter re Change in Certifying Accountant
Exhibit 16
Letter re Change in Certifying Accountant
_________________________________________
Coopers Suite 1800 telephone (502) 589-6100
&Lybrand L.L.P. 500 West Main Street facsimile (502) 585-7775
Louisville, KY 40202-4264
March 5, 1997
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Gentlemen:
We have read the statements made by Farmers Capital Bank Corporation (copy
attached), which we understand will be filed with the Commission, pursuant to
Item 4 of Form 8-K, as part of the Company's Form 8-K report for the month of
March 1997. We agree with the statements concerning Coopers & Lybrand L.L.P.
in such Form 8-K.
Very truly yours,
/s/ Coopers & Lybrand L.L.P.
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Attachment
