FLAG FINANCIAL CORP
8-K, 1997-02-21
SAVINGS INSTITUTION, FEDERALLY CHARTERED
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                      Pursant to Section 13 or 15(d) of the
                       Securities and Exchange Act of 1934


      Date of Report (Date of earliest event reported): February 20, 1997

                           FLAG FINANCIAL CORPORATION
             (Exact name of Registrant as specified in its charter)

         Georgia                    0-23470                   58-2094179
(State of Incorporation)     (Commssion file No.)             (I.R.S. Employer
                                                            Identification No.)



                           101 North Greenwood Street
                             LaGrange, Georgia 30241
          (Address if principal executive offices, including zip code)

                                                            (706) 845-5000
              (Registrant's telephone number, including area code)



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Item 4.  Change in Registrant's Certifying Accountant

         On February 20, 1997, the Company  engaged Porter Keadle Moore,  LLP as
independent  accountants  to audit the Company's  financial  statements  for the
fiscal year ending  December 31, 1997 and elected not to renew the engagement of
the Company's previous independent accountants, Robinson, Grimes & Company, P.C.
No adverse  opinions or disclaimers of opinion were given by Robinson,  Grimes &
Company,  P.C.  during the fiscal years ended December 31, 1994,  1995, or 1996,
nor were any of their  opinions  qualified as to  uncertainty,  audit scope,  or
accounting  principle,  during the time Robinson,  Grimes & Company was engaged.
There was no disagreement of any nature between the Company and Robinson, Grimes
& Company,  P.C. The decision was approved by the Company's  Audit Committee and
Board of Directors.


                                   SIGNATURES


         Pursuant to the  requirements  of the  Securities  and  Exchange Act of
1934,  the  Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

                                                FLAG FINANCIAL CORPORATION
                                                       (Registrant)


                                                        John S. Holle
                                            ------------------------------------
                                                        John S. Holle
                                            Chairman of the Board, President and
                                                    Chief Executive Officer

Date:  February 21, 1997





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