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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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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 24, 1996
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FIRST INDEPENDENCE CORPORATION
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(Exact Name of Registrant as Specified in Charter)
MICHIGAN 0-15777 38-2583843
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(State of Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
44 MICHIGAN AVENUE, DETROIT, MICHIGAN 48226
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (313) 256-8400
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
During September and October, 1996, the Corporation's Audit
Committee recommended solicitation of proposals from several independent
accountants for the 1996 audit in an effort to reduce costs. The Audit
Committee recommended that Crowe, Chizek and Company, LLP serve as the
Corporation's independent accountants for 1996 after reviewing competitive
proposals from certain firms. The selection of Crowe, Chizek and Company, LLP
was approved by the Board of Directors on October 21, 1996.
The Corporation has never previously consulted Crowe, Chizek
and Company with respect to the application of any accounting principle to any
specific transaction, nor with respect to any other matter.
Coopers and Lybrand, LLP was the Corporation's independent
accountant from 1986 through 1995. There have not been, during the past two
years, or prior thereto, any disagreement between Coopers and Lybrand and the
Corporation on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure. Coopers and Lybrand did
not resign or decline to stand for re-election. It was not selected as
independent accountant for 1996 based on the Audit Committee's evaluation of
the competing proposals.
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SIGNATURES
Pursuant to the requirement 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.
FIRST INDEPENDENCE CORPORATION
(Registrant)
Date October 25, 1996 By: Don Davis
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(Signature)
Its: Chairman and Interim CEO
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