UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported) - April 1, 1997
UNITED COMMUNITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Minnesota 333-15067 41-1380239
(State or other Jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
2600 Eagan Woods Drive, Suite 155
Eagan, MN 55121
(Address of principal executive offices and zip code)
(612) 552-2828
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant.
On April 1, 1997, United Community Bancshares, Inc. (the "Company")
dismissed McGladrey & Pullen, LLP ("McGladrey"), the principal accountants
previously engaged by the Company, and selected KPMG Peat Marwick LLP to serve
as its principal accountants.
In connection with the audits of the three years ended December 31, 1996,
and the subsequent interim period through April 1, 1997, there were no
disagreements with McGladrey on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedures,
which disagreements if not resolved to their satisfaction would have caused them
to make reference in connection with their opinion to the subject matter of the
disagreement.
The audit reports of McGladrey on the consolidated financial statements of
the Company as of and for the years ended December 31, 1996, 1995, and 1994 did
not contain any adverse opinion or disclaimer of opinion, nor were they
qualified or modified as to uncertainty, audit scope, or accounting principles.
The decision to change accountants was approved by the Company's Board of
Directors.
Item 7. Financial Statements; Pro Forma Financial Information and Exhibits.
(a) Financial statements.
None.
(b) Pro forma financial information.
None.
(c) Exhibits. The following exhibits are included with this
report:
16 Letter from McGladrey & Pullen, LLP
2
<PAGE>
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 duly authorized.
DATED: April 7, 1997 UNITED COMMUNITY BANCSHARES, INC.
By: /s/ Marcia O'Brien
Marcia O'Brien, Chief Financial Officer
3
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
EXHIBIT INDEX TO FORM 8-K
Date of Report: Commission File No.:
April 1, 1997 333-15067
UNITED COMMUNITY BANCSHARES, INC.
Exhibit
16 Letter from McGladrey & Pullen, LLP
4
McGLADREY & PULLEN, LLP
Certified Public Accountants and Consultants
April 2, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accountants for United Community Bancshares, Inc.
and, under the date of February 19, 1997, we reported on the consolidated
financial statements of United Community Bancshares, Inc. and subsidiaries as of
and for the years ended December 31, 1996 and 1995. On April 1, 1997, our
appointment as principal accountants was terminated. We have read United
Community Bancshares, Inc.'s statements included under Item 4 of its Form 8-K
dated April 1, 1997, and we agree with such statements.
Sincerely,
/s/ McGladrey & Pullen, LLP
McGladrey & Pullen, LLP
Twin Cities Practice
445 Minnesota Street, Suite 1800
St. Paul, Minnesota 55101-2170
(612)222-8011 FAX (612)29308418
