QCF BANCORP INC
8-K, 1996-11-12
SAVINGS INSTITUTION, FEDERALLY CHARTERED
Previous: WASHINGTON MUTUAL INC, DEFM14A, 1996-11-12
Next: QCF BANCORP INC, 10KSB, 1996-11-12




            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)   November 7, 1996

                               QCF BANCORP, INC. 
(Exact name of registrant as specified in its charter)

         Minnesota                     0-25700               41-1796789       
(State or other jurisdiction of     (Commission           (I.R.S. employer
  incorporation)                     file number)          identification no.)

501 Chestnut Street, Virginia, Minnesota                            55792     
(Address of principal executive offices)                         (Zip code)

Registrant's telephone number, including area code:   (218) 741-2040

                                 Not Applicable 
(Former name or former address, if changed since last report)









                             Exhibit Index on Page 2
                                Page 1 of 4 Pages








<PAGE>



Item 4. Changes in Registrant's Certifying Accountant

(a)  At its board  meeting on November 7, 1996,  the Board of  Directors  of QCF
     Bancorp,  Inc.  engaged the  accounting  firm of  McGladrey & Pullen LLP as
     independent  accountants for the Registrant for the fiscal year ending June
     30, 1997. The work of KPMG Peat Marwick LLP was terminated on November 7,
     1996.

(b)  During the two most recent  fiscal years and interim  period  subsequent to
     June 30, 1996 through  November 7, 1996 (date of  termination),  there have
     been  no  disagreements  with  KPMG  Peat  Marwick  LLP  on any  matter  of
     accounting  principles or practices,  financial  statement  disclosure,  or
     auditing scope or procedure or any reportable events.

(c)  QCF  Bancorp'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, except
     that  the  report  referred  to the  changes  in QCF  Bancorp's  method  of
     accounting  for  securities  during the year  ended  June 30,  1995 and its
     method of accounting for income taxes during the year ended June 30,1994. .

(d)  The  Registrant  has requested that KPMG Peat Marwick LLP furnish it with a
     letter  addressed  to the SEC  stating  whether  it  agrees  with the above
     statements.  A copy of  Discharged's  letter to the SEC, dated November 12,
     1996, is filed as Exhibit 16 to the Form 8-K.


Item 7. Financial Statements, Pro Forma Financial Information and Exhibits

The following is a list of exhibits  filed with this current  report on Form 8-K
indexed to their location in the sequentially numbered copy.

Exhibit No.                                                  Page No.
      16       Letter from KPMG Peat Marwick LLP,              4
               dated November 12,  1996.











                                Page 2 of 4 Pages



<PAGE>





                        SIGNATURES

Pursuant  to the  requirement  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.

                                      QCF Bancorp, Inc.
                                      Registrant




Date:    November 12, 1996           /S/   Daniel F. Schultz           
       --------------------         -----------------------------------      
                                           Daniel F. Schultz
                                           Vice President/Treasurer
                                          (Principal Financial Officer)


























                                Page 3 of 4 Pages


<PAGE>

 



November 12, 1996


Securities and Exchange Commission

Washington, D.C, 20549

Ladies and Gentlemen:

We were previously  principal  accountants for QCF Bancorp,  Inc. and, under the
date of August 20, 1996, we reported on the consolidated  financial  statements
of QCF Bancorp, Inc. and subsidiary as of June 30, 1996 and 1995 and for each of
the years in the three year period ended June 30, 1996. Our report refers to the
changes in QCF Bancorp,Inc's method of accounting for securities during the year
ended June 30, 1995 and its method of  accounting  for income  taxes  during the
year ended June 30,  1994.  On November 7, 1996,  our  appointment  as principal
accountants was terminated.  We have read QCF Bancorp, Inc.'s statement included
under Item 4 of its Form 8-k dated  November  12,  1996,  and we agree with such
statements,  except that we are not in a position to agree or disagree  with QCF
Bancorp,  Inc.'s  statement  that  the  change  was  approved  by the  board  of
directors.

Very truly yours,


KPMG Peat Marwick LLP






                                Page 4 of 4 pages
<PAGE>




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission