UNITED STATES
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) August 13, 2003
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TRI CITY BANKSHARES CORPORATION
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(Exact name of registrant as specified in its charter)
Wisconsin 0-9785 39-1158740
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(State or other jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification Number)
6400 South 27th Street, Oak Creek, WI 53154
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (414) 761-1610
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NONE
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(Former name or former address, if changed since last report.)
Item 4
Changes in Registrant's Certifying Accountant
(a) On August 13, 2003, the Registrant dismissed Ernst & Young, LLP ("Ernst &
Young") as its independent public accountants, effective immediately. The
change was made upon the recommendation of the Audit Committee of the
Board. Management sought and received proposals from Ernst & Young and
other independent public accounting firms. These proposals were submitted
to the Registrant's Audit Committee, which recommended Virchow, Krause &
Company, LLP as the Registrant's new auditors.
Ernst & Young's reports on the Registrant's consolidated financial
statements for the latest two years ended December 31, 2002 and 2001, did
not contain an adverse opinion or disclaimer of opinion and were not
qualified as to uncertainty, audit scope or accounting principles. During
the Registrant's years ended December 31, 2002 and 2001, and subsequent
interim periods preceding the dismissal, there were no disagreements with
Ernst & Young 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 Ernst & Young, would
have caused it to make reference to the subject matter of the disagreement
in connection with its reports. During the two most recent years and the
subsequent interim period through August 13, 2003, there were no
reportable events (as described in Regulation S-K Item 304 (a) (1) (v)).
The registrant has furnished Ernst & Young with a copy of the disclosure
contained herein and requested that Ernst & Young furnish to the
Registrant a letter addressed to the Securities and Exchange Commission
stating whether it agrees with such disclosure. A copy of such letter
dated August 19, 2003 is filed as Exhibit 16 hereto.
(b) On August 13, 2003, the Registrant engaged Virchow, Krause & Company, LLP
to audit the Registrant's financial statements for the year ending
December 31, 2003. During the Registrant's two most recent years ended
December 31, 2002 and 2001, and the subsequent interim period through
August 13, 2003, the Registrant did not consult with Virchow, Krause
Company, LLP regarding any of the matters or events set forth in Item 304
(a) (2) (i) or (ii) of Regulation S-K.
Item 7
Financial Statements Pro Forma Financial Information and Exhibits
Exhibit Number Description
16 Letter dated August 19, 2003 from
Ernst & Young LLP to the Securities
And Exchange Commission
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.
TRI CITY BANKSHARES CORPORATION
(Registrant)
Date: August 19, 2003 By: /s/ Henry Karbiner, Jr.
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