SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K/A
(AMENDMENT NO. 1
TO 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): September 21, 2000
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Cooperative Bankshares, Inc.
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(Exact name of registrant as specified in its charter)
North Carolina 0-24626 56-1886527
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
201 Market Street, Wilmington, North Carolina 28401
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(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (910)343-0181
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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 THE REGISTRANT'S CERTIFYING ACCOUNTANT
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On September 21, 2000, the Board of Directors of the Registrant
dismissed PricewaterhouseCoopers LLP, as its independent accountants. The
decision was recommended by the Audit Committee of the Board of Directors and
unanimously approved by the Board. The firm of KPMG LLP, Raleigh, North
Carolina, has been engaged to perform an audit of the Registrant's financial
statements for the fiscal year ending December 31, 2000 and to provide other
accounting services.
PricewaterhouseCoopers LLP's audit reports on Registrant's financial
statements as of and for the years ended December 31, 1999 and 1998, did not
contain any adverse opinion or disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting principles.
During the Registrant's two most recent fiscal years, and for the
interim period through September 21, 2000, there have been no disagreements with
PricewaterhouseCoopers LLP on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedures, which
disagreements, if not resolved to the satisfaction of PricewaterhouseCoopers
LLP, would have caused them to make reference thereto in their report on the
financial statements for such years.
Registrant has provided PricewaterhouseCoopers LLP with a copy of this
disclosure and has requested that PricewaterhouseCoopers LLP furnish it with a
letter addressed to the Securities and Exchange Commission stating whether it
agrees with the foregoing statements. A copy of PricewaterhouseCoopers LLP 's
letter to the Securities and Exchange Commission is being filed as Exhibit 16.1
to this amended report.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND OTHER EVENTS
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Exhibit 16.1 -- Accountant's Letter
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this amended report to be signed on its behalf by
the undersigned, thereunto duly authorized.
COOPERATIVE BANKSHARES, INC.
Date: October 6, 2000 By:/s/ Frederick Willetts, III
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Frederick Willetts, III
President
