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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 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) November 9, 1998
Central Illinois Bancorp, Inc.
(Exact name of registrant as specified in its charter)
Illinois 000-24149 37-1203599
(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Indentification No.)
N27 W24025 Paul Court, Pewaukee, Wisconsin 53072
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (414) 695-6010
2913 W. Kirby Avenue, Champaign, Illinois 61821 (Former
Name or former address, if changed since last report.)
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ITEM 4: CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT
On November 9, 1998, Central Illinois Bancorp, Inc. (Registrant) engaged the
accounting firm of KPMG Peat Marwick LLP (KPMG) as its independent accountants.
KPMG replaces Striegel Knobloch & Company, LLC (Striegel) as of the date
reported above. Striegel resigned as independent accountants of Registrant
effective November 9, 1998. The change in the Registrant's independent
accountants was the result of a formal proposal process involving two accounting
firms. The decision to change accountants was approved by the Registrant's Board
of Directors.
During the two most recent fiscal years and the subsequent interim period prior
to September 30, 1998, there have been no disagreements with Striegel on any
matter of accounting principles or practices, financial statement disclosures,
auditing scope or procedure, nor any reportable events.
Striegel's report on the consolidated financial statements for the past two
years contained no adverse opinion or disclaimer of opinion and was not
qualified or modified as to uncertainty, audit scope or accounting principles.
None of the following events has occurred within the Registrant's two most
recent fiscal years or the subsequent interim period preceding the change in
accountants:
(A) Striegel has not advised the Registrant that the internal controls
necessary for the Registrant to develop reliable financial statements do
not exist;
(B) Striegel has not advised the Registrant that information had come to its
attention that led it to no longer be able to rely on management's
representations, or that made it unwilling to be associated with the
financial statements prepared by management;
(C) Striegel has not advised the Registrant of the need to expand significantly
the scope of its audit, or that information has come to its attention that
if further investigated could (i) materially impact the fairness or
reliability of either a previously issued audit report or the underlying
financial statements, or the financial statements issued or to be issued
covering the fiscal periods subsequent to the date of the most recent
financial statements covered by an audit report (including information that
could prevent it from rendering an unqualified report on those financial
statements) or cause it to be unwilling to rely on management's
representations or to be associated with the Registrant's financial
statements, and (ii) due to
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Striegel's resignation, or for any other reason, Striegel did not so expand
the scope of its audit or conduct such further investigation; or,
(D) Striegel has not advised the Registrant that information has come to its
attention that it concluded materially impacts the fairness or reliability
of either (i) a previously issued audit report or the underlying financial
statements, or (ii) the financial statements issued or to be issued covered
by an audit report (including information that, unless resolved to
Striegel's satisfaction, would prevent it from rendering an unqualified
audit report on those financial statements), and due to Striegel's
resignation, or for any other reason, the issue has not been resolved to
the accountant's satisfaction prior to the resignation.
During the two most recent fiscal years, and the subsequent interim period prior
to engaging KPMG, neither the Registrant nor anyone on its behalf, consulted
KPMG regarding (i) either the application of accounting principles to a
specified transaction, either completed or proposed, or the type of audit
opinion that might be rendered on the Registrant's financial statements, where
either a written report was provided to the Registrant or oral advice was
provided, which advice was an important factor considered by the Registrant in
reaching a decision as to the accounting, auditing or financial reporting issue;
or (ii) any matter that was the subject of a disagreement (as described in
paragraph 304(a)(1)(iv) of Regulation S-K).
The Registrant has requested that Striegel furnish it with a letter addressed to
the SEC stating whether it agrees with the above statements. A copy of
Striegel's letter to the SEC dated November 13, 1998 is attached as an exhibit
to this report.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
16.1 Letter re Change in Certifying Accountant
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SIGNATURE
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 hereunder duly authorized.
CENTRAL ILLINOIS BANCORP, INC.
(Registrant)
By: /s/ Steven T. Klitzing
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Name: Steven T. Klitzing
Title: Senior Vice President and
Chief Financial Officer
Date: November 13, 1998
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Exhibit 16.1
Securities and Exchange Commission
Washington, DC 20549
We were previously the independent accountants for Central Illinois
Bancorp, Inc. and on February 23, 1998, we reported on the consolidated
statements of financial condition of Central Illinois Bancorp, Inc. and
subsidiaries as of December 31, 1997 and 1996, and the related consolidated
statements of income, changes in stockholders' equity, and cash flows for each
of the years in the three year period ended December 31, 1997. On November 9,
1998, we resigned as independent accountants of Central Illinois Bancorp, Inc.
We have read Central Illinois Bancorp, Inc.'s statements included under
Item 4 of its Form 8-K dated November 13, 1998, and agree with such statements
except that we are not in a position to agree or disagree with the Company's
statement that the Company has engaged an accounting firm that has not
previously been consulted on accounting, auditing, or financial reporting
issues.
Striegel Knobloch & Company, L.L.C.
November 13, 1998
