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)
March 12, 1997
GFSB BANCORP, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-25854 04-2095007
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(State or other jurisdiction (SEC File No.) (IRS Employer
of incorporation) Identification
Number)
221 Aztec Avenue, Gallup, New Mexico 87301
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (505) 722-4361
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Not Applicable
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(Former name or former address, if changed since last Report)
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GFSB BANCORP, INC.
INFORMATION TO BE INCLUDED IN REPORT
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Item 4. Changes in Registrant's Certifying Accountant
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On March 12, 1997, the board of directors of the registrant determined
to engage Neff & Company LLP as its independent auditors for the fiscal year
ended June 30, 1998. On March 12, 1997, the registrant orally notified Atkinson
& Co., Ltd. ("Atkinson"), its independent auditors for the fiscal year ended
June 30, 1997 and for the fiscal years ended June 30, 1996 and 1995, of this
determination and that Atkinson would not be engaged for the fiscal year ending
June 30, 1998 but that Atkinson remained engaged for the fiscal year ended June
30, 1997 and that the registrant expected that Atkinson would issue a report for
the fiscal year ended June 30, 1997. The determination to replace Atkinson was
recommended by the audit committee and approved by the full board of directors
of the registrant.
The reports of Atkinson for the fiscal years ended June 30, 1995, 1996
and 1997 contained no adverse opinion or disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended June 30, 1995, 1996 and 1997 and during the period
from June 30, 1997 to August 11, 1997 (the date of the report of Atkinson that
was included in the annual report to stockholders and which report and related
consolidated financial statements and notes were incorporated by reference into
the Form 10-KSB of the registrant for the fiscal year ended June 30, 1997),
there were no disagreements between the registrant and Atkinson concerning
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure. In March 1997, prior to the fiscal year end of June 30,
1997, the registrant filed a Current Report on Form 8-K concerning this matter.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits:
Exhibit No. 16 - Letter regarding 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.
GFSB BANCORP, INC.
Date: October 6, 1997 By: /s/ Jerry R. Spurlin
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Jerry R. Spurlin
President
EXHIBIT 16
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[Atkinson & Co., Ltd. letterhead]
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Pursuant to 17 C.F.R. ss.228.304(a)(3), we have reviewed the language
under the heading "Item 4. Changes in Registrant's Certifying Accountant" in the
Current Report on Form 8-K to be filed with the Securities and Exchange
Commission by GFSB Bancorp, Inc. We agree with the statements contained therein.
However, aside from the receipt of notification of such action, we have no basis
for making a determination whether the board of directors or audit committee met
concerning this matter.
/s/ Atkinson & Co., Ltd.
October 6, 1997
Albuquerque, New Mexico
