FORM 8-K/A
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 31, 1996
Klamath First Bancorp,Inc.
-------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Oregon 0-26556 93-1180440
- -----------------------------------------------------------------------------
State or other jurisdiction Commission File Number (I.R.S Employer
of incorporation Identification No.)
540 Main Street, Klamath Falls, Oregon 97601
- ------------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number (including area code): (541) 882-3444
Not Applicable
- -------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE>
Item 4. Changes in Registrant's Certifying Accountant
___________________________________________________
(a) On May 21, 1996, the Registrant's Board of Directors, at the
recommendation of its Audit Committee, terminated the engagement of KPMG Peat
Marwick LLP, Portland, Oregon, as the Registrant's certifying accountants.
The report of KPMG Peat Marwick LLP on the Registrant's financial
statements for either of the last two fiscal years did not contain any adverse
opinion or a disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope, or accounting principles, except that the report of
KPMG Peat Marwick LLP dated November 3, 1995 with respect to the Registrant's
financial statements at September 30, 1994 and 1995 and for the three years in
the period ended September 30, 1995 disclosed that the Registrant changed its
method of accounting for income taxes in fiscal 1994 to adopt the provisions of
Statement of Financial Accounting Standard ("SFAS") No.115, Accounting for
Certain Investments in Debt and Equity Securities, and SFAS No.109, Accounting
for Income Taxes, respectively.
During the Registrant's two most recent fiscal years and subsequent
interim periods preceding the date of termination of the engagement of KPMG Peat
Marwick LLP, the Registrant was not in disagreement with KPMG Peat Marwick LLP
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreement, if not resolved
to the satisfaction of KPMG Peat Marwick LLP, would have caused KPMG Peat
Marwick LLP to make reference to the subject
matter of the disagreement in connection with its report.
The required letter from KPMG Peat Marwick LLP with respect to the
above statements made by the Registrant follows as Exhibit 1.
(b) On May 21, 1996, the Registrant's Board of Directors, at the
recommendation of its Audit Committee, engaged Deloitte & Touche LLP, Portland,
Oregon, subject to completion by Deloitte and Touche LLP of their normal client
acceptance procedures, as the Registrant's certifying accountants. The
Registrant has not consulted with Deloitte & Touche LLP during its two most
recent fiscal years nor during any subsequent interim period prior to its
engagement regarding the application of accounting principles to a specified
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Registrant's financial statements.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
- -----------------------------------------------------------------------------
None.
<PAGE>
Exhibit 1.
-----------
KPMG Peat Marwick LLP
Suite 2000
1211 South West Fifth Avenue
Portland, OR 97204
May 29, 1996
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously principal accounts for Klamath First Bancorp,Inc.
and, under the date of November 3, 1995, we reported on the
consolidated financial statements of Klamath First Bancorp, Inc.
and subsidiaries at September 30, 1994 and 1995, and for the
three years ended September 30, 1995. On May 21, 1996, our
appointment as principal accountants was terminated. We have
read Klamath First Bancorp, Inc.'s statements included under Item
4 of its Form 8-K dated May 21, 1996, and we agree with such
statements, except that we are not in a position to agree or
disagree with Klamath First Bancorp, Inc.'s statement that the
change was recommended by its Audit Committee and approved by its
Board of Directors.
Very truly yours,
KPMG Peat Marwick LLP
- ------------------------
KPMG Peat Marwick LLP
Member Firm of
Klynveld Peat Marwick Goerdeler
<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, hereunto duly authorized.
KLAMATH FIRST BANCORP,INC.
DATE: May 31, 1996 By: Gerald V. Brown
------------------------------------------
Gerald V. Brown
President and Chief Executive Officer
