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UNITED STATES
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 if earliest event reported): April 19, 1999
Commission file number 0-18560
The Savannah Bancorp, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 58-1861820
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(State or other jurisdiction of (IRS Employer
incorporation or organization) identification No.)
25 Bull Street, Savannah, GA 31401
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(Address of principal executive offices) (Zip Code)
912-651-8200
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(Registrant's telephone number, including area code)
Not Applicable
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(Former Name or Former Address, If Changed Since Last Report)
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Item 4. Change in Registrant's Certifying Accountant.
(a) Previous independent accountants
(i) Effective April 19, 1999 The Savannah Bancorp, Inc. ("TSB, Inc.")
dismissed its prior certifying accountants, Arthur Andersen LLP ("AA
LLP"). AA LLP audited the consolidated financial statements for the
years ending December 31, 1996 through December 31, 1998. Unqualified
opinions were issued in each of those years. The decision to dismiss
A A LLP was approved by the Audit Committee and the full board of
directors.
(ii) During the two most recent fiscal years and the subsequent interim
period to the date hereof, there were no disagreements between TSB,
Inc. and AA LLP on any matters of accounting principles, practices,
financial statement disclosure, or auditing scope or procedures,
which disagreements, if not resolved to the satisfaction of AA LLP
would have caused them to make a reference thereto in their report on
the financial statements for such years.
(iii) None of the "reportable events" described in Regulation S-K Item 304
(a)(1)(v) occurred with respect to TSB, Inc. within the last two
fiscal years and subsequent interim period to the date hereof.
(b) New independent accountants
A competitive proposal was received from BDO Siedman LLP, ("BDO") which has
significant publicly-traded, community banking expertise. Effective April 19,
1999, TSB Inc.'s Board of Directors engaged the services of BDO as its
independent accountants. During the last two years and subsequent interim period
to the date hereof, TSB, Inc. did not consult BDO regarding any of the matters
or events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
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SIGNATURES
IN ACCORDANCE WITH THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED,
THEREUNTO DULY AUTHORIZED.
THE SAVANNAH BANCORP, INC. (Registrant)
By: /s/ ROBERT B. BRISCOE
Date: April 23, 1999
Robert B. Briscoe
Chief Financial Officer
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ARTHUR ANDERSEN LETTERHEAD
Arthur Andersen LLP
2700 Barnett Center
50 North Laura Street
Jacksonville, FL 32202
904 355 7521
904 632 4202 Fax
April 22, 1999
Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Dear Sir/Madam:
We have read Item 4 included in the Form 8-K dated April 19, 1999, of
The Savannah Bancorp, Inc. to be filed with the Securities and Exchange
Commission and are in agreement with the statements contained therein.
Very truly yours,
/s/ ARTHUR ANDERSEN LLP
cc: Mr. Robert B. Briscoe
Chief Financial Officer
The Savannah Bancorp, Inc.
