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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): July 24, 1996
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UNION BANKSHARES, LTD.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 0-21078 84-0986148
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(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYEE
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1825 Lawrence Street, Suite 444, Denver Colorado 80202
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code: (303) 298-5352
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Not Applicable
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On July 24, 1996, the Board of Directors of Union Bankshares,
Ltd. resolved to engage the accounting firm of Baird, Kurtz and Dobson
as the Registrant's independent accountant for its fiscal year ending
December 31, 1996. Effectively, the Registrant's former independent
accountant, McGladrey & Pullen, LLP, simultaneously resigned as of
July 24, 1996. The Denver office of McGladrey & Pullen was acquired
by Baird, Kurtz and Dobson on June 17, 1996. All former audit
engagement members, with the exception of the audit partner, are now
with Baird, Kurtz and Dobson, and will continue to be involved with
the Registrant's Fiscal 1996 annual audit.
McGladrey & Pullen's report on the 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.
During the two most recent fiscal years and interim period
subsequent to December 31, 1995, there have been no disagreements with
McGladrey & Pullen on any matter of accounting principles or
practices, financial statement disclosure, auditing scope or
procedure, or any reportable events.
McGladrey & Pullen has furnished Registrant with a copy of its
letter addressed to the SEC stating that it agrees with the above
statements.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit 16 - Letter re Change in Certifying Accountant
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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, thereunto duly authorized.
UNION BANKSHARES, LTD.
Date: July 25, 1996 By: /s/ Charles R. Harrison
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Charles R. Harrison
Chairman of the Board and Chief
Executive Officer
EXHIBIT 16
[McGladrey & Pullen, LLP Letterhead]
Securities and Exchange Commission
Washington, D.C. 20549
We were previously the independent accountants for Union Bankshares,
Ltd., and on January 23, 1996, except for Note 15 as to which the date
is March 4, 1996, we reported on the consolidated financial statements
of Union Bankshares, Ltd. and subsidiary as of December 31, 1995 and
1994 and for each of the three years in the period ended December 31,
1995. On July 24, 1996, we resigned as independent accountants of
Union Bankshares, Ltd. We have read Union Bankshares, Ltd.'s
statements included under Item 4 of its Form 8-K dated July 25, 1996
and we agree with such statements.
McGladrey & Pullen, LLP
McGLADREY & PULLEN, LLP
Denver, Colorado
July 24, 1996
