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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): August 21, 1998
FNB FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
North Carolina 0-13086 56-1382275
(State or other jurisdiction (Commission File No.) I.R.S. Employer
of incorporation) Identification Number
202 South Main Street, Reidsville, North Carolina 27320
(Address of principal executive offices)
(336) 342-3346
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountant
The Board of Directors of FNB Financial Services Corporation (the
"Company") and the Audit Committee thereof have approved the engagement of
PricewaterhouseCoopers LLP as the Company's independent public accountants for
the year ended December 31 1998, to replace Cherry, Bekaert & Holland, L.L.P.
Cherry, Bekaert & Holland, L.L.P. was notified on August 21, 1998 that the
Company was changing independent public accountants.
The audit reports of Cherry, Bekaert & Holland, L.L.P. on the
consolidated financial statements of the Company for the years ended December
31, 1996 and 1997 did not contain any adverse opinion or disclaimer of opinion,
nor were they qualified or modified as to uncertainty, audit scope or accounting
principles.
In connection with the audits of the Company's financial statements
for each of the two fiscal years ended December 31, 1997 and in the subsequent
interim period through August 21, 1998, there were no disagreements with Cherry,
Bekaert & Holland, L.L.P. on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope and procedures which, if not
resolved to the satisfaction of Cherry, Bekaert & Holland, L.L.P. would have
caused Cherry, Bekaert & Holland, L.L.P. to make reference to the matter in
their report. The Company has requested Cherry, Bekaert & Holland, L.L.P. to
furnish it with a letter to the Securities and Exchange Commission stating
whether it agrees with the above statements. A copy of that letter, dated
August 24, 1998, is filed herewith as Exhibit 16.01.
During the last two fiscal years and the subsequent interim period
through August 21, 1998, the Company did not consult PricewaterhouseCoopers LLP
regarding any of the matters or events set forth in Regulation S-K Item
304(a)(2)(i) and (ii).
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description of Exhibit
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16.01 Letter of Cherry, Bekaert & Holland, L.L.P.
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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.
FNB FINANCIAL SERVICES CORPORATION
By: /s/ Robert F. Albright
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Dated: August 26, 1998 Robert F. Albright
Executive Vice President, Chief Financial
Officer and Secretary
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EXHIBIT INDEX
Exhibit No. Description of Exhibit
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16.01 Letter of Cherry, Bekaert & Holland, L.L.P.
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EXHIBIT 16.01
[Cherry, Bekaert & Holland, L.L.P. Letterhead]
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We have read Item 4 of Form 8-K dated August 21, 1998 of FNB Financial Services
Corporation and are in agreement with the statements contained in the first
three paragraphs in Item 4 therein. We have no basis to agree or disagree with
other statements of the registrant contained therein.
/s/ CHERRY, BEKAERT & HOLLAND, L.L.P.
Greensboro, North Carolina
August 24, 1998
