SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): October 19, 1995
BNH BANCSHARES, INC.
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(Exact Name of Registrant as Specified in its Charter)
CONNECTICUT 06-1126899
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(State or Other Jurisdiction of (I.R.S. Employer Identification
Incorporation) Number)
0-14018
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Commission File Number
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209 Church Street, New Haven, Connecticut 06510
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(Address of Principal Executive Offices) (Zip Code)
(203) 498-3500
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(Registrant's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
(a) On October 19, 1995, the Audit Committee of the Board of
Directors of BNH Bancshares, Inc. (the "Company") recommended and the
Board of Directors of the Company approved the dismissal of Price
Waterhouse LLP, effective October 19, 1995, as the independent
accountants engaged to perform the audit examination of the Company's
financial statements for the year ending December 31, 1995. On October
19, 1995, the Company notified Price Waterhouse LLP of the Board of
Directors' decision to replace Price Waterhouse LLP as independent
accountants of the Company. Price Waterhouse LLP has acted as the
auditors of the Company since the fiscal year ending December 31, 1987.
The reports of Price Waterhouse LLP on the financial statements of
the Company for the past two years contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principle, except that their
report on the Company's financial statements for the year ended December
31, 1993 included an explanatory paragraph regarding the uncertainty that
the Company could continue as a going concern.
During the Company's two most recent fiscal years and the subsequent
interim period ending October 19, 1995, there were no disagreements with
Price Waterhouse LLP on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure, which
disagreement, if not resolved to the satisfaction of Price Waterhouse
LLP, would have caused Price Waterhouse LLP to make reference thereto in
their report on the financial statements for such years.
(b) On October 19, 1995, the Audit Committee of the Board of
Directors also recommended and the Company's Board of Directors approved
the engagement of Coopers & Lybrand L.L.P., effective October 19, 1995,
to perform the audit examination of the Company's financial statements
for the year ending December 31, 1995. During the Company's two most
recent fiscal years and through October 19, 1995, the Company has not
consulted with Coopers & Lybrand on items which (1) were or should have
been subject to SAS 50 or (2) concerned with subject matter of a
disagreement or reportable event with the former auditor.
(c) The Company has requested that Price Waterhouse LLP furnish it
with a letter addressed to the Securities and Exchange Commission stating
whether it agrees with the above statements. A copy of such letter,
dated October 23, 1995, is filed as Exhibit 16 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS
(a) and (b) -- Inapplicable.
(c) EXHIBITS
(16) Letter from Price Waterhouse LLP to the Securities and
Exchange Commission, dated October 23, 1995.
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 thereunto duly authorized.
BNH BANCSHARES, INC.,
Registrant
By /S/ F. Patrick McFadden, Jr.
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F. Patrick McFadden, Jr.
President and Chief Executive
Officer
DATED: October 25, 1995
EXHIBIT INDEX
EXHIBIT NO. PAGE
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16 Letter from Price Waterhouse LLP to the
Securities and Exchange Commission, dated
October 23, 1995.
EXHIBIT 16
October 23, 1995
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Ladies and Gentlemen:
We have read Item 4 of BNH Bancshares, Inc.'s Form 8-K dated October 19,
1995 and are in agreement with the statements contained in paragraph 4(a)
therein.
Yours very truly,
/S/ Price Waterhouse LLP
Price Waterhouse LLP
