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 May 15, 2002
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AMERICAN NATIONAL BANKSHARES INC.
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(Exact name of registrant as specified in its charter)
Virginia 0-12820 54-1284688
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
628 Main Street
Danville, Virginia 24541
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(Address of principal executive offices) (Zip Code)
(434)-792-5111
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(Registrant's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
The Audit Committee of the Board of Directors of American National Bankshares,
Inc. ("ANB") annually considers and recommends to the Board the selection of the
Corporation's independent public accountants. As recommended by American
National Bankshares Inc.'s Audit Committee on May 15, 2002, the Corporation
decided to no longer engage Arthur Andersen LLP ("Andersen") as the
Corporation's independent public accountant. As a result, in accordance with the
Securities and Exchange Commission's Order of March 18, 2002 relating to former
clients of Andersen, the Corporation is currently in the process of selecting
another independent public accountant.
During ANB's two most recent fiscal years ended December 31, 2001, and the
subsequent interim period through March 31, 2002, there were no disagreements
between ANB and Andersen on any matter of accounting principles or practices,
financial statement disclosure, or auditing scope or procedure which, if not
resolved to Andersen's satisfaction, would have caused Andersen to make
reference to the matter of the disagreement in connection with their reports.
Andersen's reports on the Corporation's consolidated financial statements for
each of the years ended 2001 and 2000, did not contain an adverse opinion or
disclaimer of opinion, nor were they qualified or modified as to uncertainty,
audit scope or accounting principles.
American National Bankshares Inc. will provide Andersen with a copy of this
filing on May 15, 2002, in accordance with Item 304(a)(3) of Regulation S-K. The
Corporation will request from Andersen a letter addressed to the Commission
stating whether Andersen agrees with the statements made herein. Once the letter
is received by the Corporation it will be filed with the Commission by amendment
within two business days of receipt.
None of the reportable events described under Item 304(a)(1)(v) of Regulation
S-K occurred within ANB's two most recent fiscal years and subsequent interim
period through March 19, 2002.
During ANB's two most recent fiscal years ended December 31, 2001, and the
subsequent interim period through March 19, 2002, the Corporation did not
consult with any other accountants regarding any of the matters or events set
forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
SIGNATURE
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.
AMERICAN NATIONAL BANKSHARES INC.
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(Registrant)
Date - May 15, 2002 By: /s/ Brad E. Schwartz
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Chief Financial Officer
(Principal Accounting Officer)