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): October 1, 1997
BEACH FIRST NATIONAL BANCSHARES, INC.
(Exact name of registrant
as specified in its charter)
South Carolina 33-95562 57-1030117
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
1550 North Oak Street, Myrtle Beach, South Carolina 29577
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (803) 626-2265
N/A
(Former name or former address, if changed since last report.)
Page 1 of 5 Pages
The Exhibit Index Appears on Page 4
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On October 1, 1997, the Company dismissed the firm of Francis & Company
CPA, as the auditors of the Company effective as of that date. The decision to
change accountants was approved by the board of directors of the Company.
The reports of Francis & Company on the Company's financial statements for
the past two fiscal years did not contain an adverse opinion or a disclaimer of
opinion and were not qualified or modified as to uncertainty, audit scope or
accounting principles.
In connection with the audits of the Company's financial statements for
the fiscal year ended December 31, 1996 and in the subsequent interim period,
there were no disagreements with Francis & Company on any matters of accounting
principles or practices, financial statement disclosure, or auditing scope and
procedures which, if not resolved to the satisfaction of Francis & Company,
would have caused Francis & Company to make reference to the matter in their
report. During the fiscal year ended December 31, 1996 and in the subsequent
interim period, there were no "reportable events" to describe as specified in
Item 304(e)(1)(v) of Regulation S-B.
A copy of the letter from Francis & Co. stating whether it agrees with the
above statements dated November 6, 1997, is filed as Exhibit 16.1 to this
Current Report on Form 8-K.
On October 1, 1997, the Company engaged Elliott, Davis & Company, LLP as
its independent auditors for the fiscal year ending December 31, 1997, to audit
the Company's financial statements. During the Company's most recent fiscal
year and the subsequent interim period preceding the engagement of Elliott,
Davis & Company, the Company did not consult Elliott, Davis & Company on any
matter requiring disclosure under Item 304(a)(3) of Regulation S-B.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) The following information is filed as an exhibit to the Current
Report on Form 8-K:
Exhibit No. Description
16.1 Letter of Francis & Company, dated November 6,
1997, to the Securities and Exchange Commission
2
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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 hereunto duly authorized.
BEACH FIRST NATIONAL BANCSHARES, INC.
By: /s/ William Gary Horn
----------------------------
William Gary Horn, President
Dated November 6, 1997.
3
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Exhibit Index
Exhibit No. Description Sequential Page Number
- ----------- ----------- ----------------------
16.1 Letter of Francis & Company dated Page 5
November 6, 1997, to the
Securities and Exchange Commission
4
Exhibit 16.1
[Letterhead of FRANCIS & CO., CPAs]
November 6, 1997
Securities and Exchange Commission
450 5th St., NW
Washington, DC 20549
RE: 8-K filing by Beach First National Bancshares, Inc.
(the "Company")
Dear Sirs:
We have received a copy of Form 8-K to be filed with the Securities and
Exchange Commission disclosing the Company's change in accountants. This
letter shall serve as confirmation that we agree with the statements made by
the Company in the Form 8-K.
Yours very truly,
/s/ Eddie Y. Francis
Eddie Y. Francis
