SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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FORM 8-K/A1
Amendment No. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 14, 1998
LAKELAND BANCORP, INC.
(Exact name of registrant as specified in its charter)
New Jersey
(State or other jurisdiction of incorporation)
33-27312 22-2953275
(Commission File Number) (IRS Employer Identification No.)
250 Oak Ridge Road, Oak Ridge, New Jersey 07438
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 973-697-2000
Not Applicable
(Former name of former address, if changed since last report)
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Item 4. Changes in Registrant's Certifying Accountants.
(a) Previous Independent Accountants.
On December 14, 1998, the Registrant's Board of Directors dismissed
its independent public accountants, Radics & Co., LLC ("Radics"). The dismissal
became effective on March 24, 1999, upon the filing of Radics' report with the
Securities and Exchange Commission as part of the Registrant's Annual Report on
Form 10-K for the year ended December 31, 1998.
Radics' reports on the financial statements of the Registrant for the
most recent two years for which such reports have been issued do not contain an
adverse opinion or a disclaimer of opinion and were not qualified or modified as
to uncertainty, audit scope or accounting principles. During the Registrant's
two most recent fiscal years ended December 31, 1998 and through March 24, 1999,
there have been no disagreements between the Registrant and Radics 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 Radics would have caused them to make a reference to the subject
matter of the disagreement in connection with their reports. During the
Registrant's two most recent fiscal years ended December 31, 1998 and through
March 24, 1999, the Registrant has not been advised of any matters described in
Item 304(a)(1)(v)(A) through (D) of Regulation S-K.
Attached hereto as an exhibit is a letter from Radics addressed to the
Securities and Exchange Commission stating their agreement with the foregoing
statements.
(b) New Independent Accountants.
The Registrant's Board of Directors solicited bids for the performance
of auditing services for 1999. Bids were received from three accounting firms,
including Radics. Based on a review of the competing bids, the Registrant's
Board of Directors believed that the selection of Grant Thornton LLP would be in
the best interests of the Registrant.
On December 14, 1998, the Registrant engaged Grant Thornton LLP as its
independent public accountants to audit the Registrant's financial statements
beginning with the financial statements for the quarter ending March 31, 1999.
During the Registrant's two most recent fiscal years ended December 31, 1998 and
through March 24, 1999, neither the Registrant nor someone on its behalf
consulted with Grant Thornton LLP regarding any of the matters listed in Item
304(a)(2)(i) and (ii) of Regulation S-K. Grant Thornton LLP is currently the
public accountants for Metropolitan State Bank, a wholly-owned subsidiary of the
Registrant which was acquired by the Registrant in February 1998.
Item 7. Financial Statements and Exhibits.
Exhibit 16.1 Letter from Radics & Co., LLC dated March 24, 1999.
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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.
LAKELAND BANCORP, INC.
/s/ Arthur L. Zande
Arthur L. Zande, Executive Vice President
Dated: March 24, 1999
Exhibit 16.1
March 24, 1999
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Gentlemen:
We have had an opportunity to review the disclosures made by Lakeland
Bancorp, Inc. ("Lakeland") in its Amendment No. 1 to its current report on Form
8-K which is to be filed with the Securities and Exchange Commission ("SEC").
Pursuant to Item 304(a)(3) of Regulation S-K, we are required to
furnish Lakeland with a letter addressed to the SEC stating whether or not we
agree with the statements made by Lakeland in the 8-K regarding our replacement
as the independent auditors of Lakeland, and, if not, stating the respects in
which we do not agree.
We agree with the statements made by Lakeland in Item 4(a) of the 8-K
regarding our replacement as the independent auditors of Lakeland.
Very truly yours,
/s/ Radics & Co., LLC
RADICS & CO., LLC
cc: Lakeland Bancorp, Inc.
