<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Act of 1934
Date of Report (Date of earliest event reported): May 21, 1999
ARCADIA FINANCIAL LTD.
-----------------------------------------------------------
(Exact name of registrant as specified in its charter)
Minnesota 0-20526 41-1664848
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS employer
of incorporation) file number) identification No.)
7825 Washington Avenue South, Minneapolis, Minnesota 55439-2435
---------------------------------------------------------------
(Address of principal executive offices)
Registrant's telephone number, including area code: (612) 942-9880
---------------------
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
On May 21, 1999, Arcadia Financial Ltd. (the "Company") engaged new
independent accountants, Deloitte & Touche LLP ("Deloitte & Touche"), to audit
the Company's financial statements as of, and for the year ending, December
31, 1999. The decision to appoint Deloitte & Touche was approved by the
Audit Committee of the Board of Directors.
During the last two fiscal years or any subsequent interim period
through May 21, 1999 Deloitte & Touche were not consulted by the Company or
anyone on its behalf as to (i) the application of accounting principles to a
specific completed or proposed transaction, (ii) the type of audit opinion
that might be rendered on the Company's financial statements or (iii) any
matter that was the subject of a "disagreement" or a "reportable event" (as
such terms are defined in the relevant Rules of the Securities and Exchange
Commission).
<PAGE>
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.
May 21, 1999 ARCADIA FINANCIAL LTD.
By: /s/ John A. Witham
------------------------------
John A. Witham
Executive Vice President and
Chief Financial Officer