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 earliest event reported: July 22, 1997
UNITED SECURITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Alabama 0-14549 63-0843362
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
131 West Front Street
Post Office Box 249
Thomasville, Alabama 36784
(Address of principal executive offices)
Registrant's telephone number, including area code:
(334) 636-5424
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Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On July 22, 1997, the Registrant chose not to renew the engagement of
Smith, Dukes & Buckalew, Certified Public Accountants ("SD&B"), as its
independent accountant and appointed as its independent accountant the firm
Arthur Andersen, LLP, Certified Public Accountants. This decision to
terminate SD&B's relationship was approved by the Registrant's Audit Committee
and Board of Directors.
During the Registrant's two most recent fiscal years ended December 31,
1996 and 1995, respectively (the "Prior Fiscal Years") and the interim period
from January 1, 1997 through July 22, 1997 (the "Interim Period"), SD&B did
not issue any adverse opinions or disclaimers of opinion or qualify or modify
an opinion as to uncertainty, audit scope, or accounting principles. During
the Prior Fiscal Years and the Interim Period, the Registrant has had no
disagreement with SD&B as to any matter of accounting principles or practices,
financial statements disclosure or auditing scope or procedure which, if not
resolved to the satisfaction of SD&B, would have caused it to make reference
to the subject matter of such disagreement in connection with its reports for
the Prior Fiscal Years.
There were no "Reportable Events" as such term is defined in Item 304 of
Regulation S-K, during either (i) the Prior Fiscal Years or (ii) the Interim
Period.
The Registrant has requested that SD&B review the foregoing disclosures
and provide a letter addressed to the Securities and Exchange Commission
stating whether they agree with the above statements and, if not, stating in
what respects they do not agree. SD&B's letter is included as an exhibit to
this report on Form 8-K.
<PAGE>
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND EXHIBITS
(c)(1) Exhibits.
The following exhibit is included as part of this report:
Exhibit Reference Title of
Number Number Document Location
16 16.01 Letter from Smith, Dukes This filing
& Buckalew relating to
its termination as the
Registrant's accountants.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunder duly authorized.
DATED: July 25, 1997
UNITED SECURITY BANCSHARES, INC.
By: /s/ Larry M. Sellers
Larry M. Sellers
Vice-President
July 22, 1997
Securities and Exchange Commission
450 5th Street, N.W.
Washington, DC 20549
Gentlemen:
We have read the statements made by United Security Bancshares, Inc.,
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 dated July 22, 1997. We
agree with the statements concerning our Firm in such Form 8-K.
Very truly yours,
/s/ Smith, Dukes & Buckalew, L.L.P.
