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: April 4, 2003
COMMUNITY FINANCIAL SHARES, INC.
(Name of small business issuer in its charter)
DELAWARE
(State or other jurisdiction of
incorporation or organization)
333-46622 36-4387843
(Commission File No.) (I.R.S. Employer
Identification No.)
357 Roosevelt Road
Glen Ellyn, IL 60137
(Address of Principal Executive Offices) (Zip code)
(630) 545-0900
(Issuer's telephone number, including area code)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
As approved by the Audit Committee of the Board of Directors of
Community Financial Shares, Inc. ("the Company"), on April 3, 2003 the
Company notified BKD LLP that they have been engaged to serve as the
Company's independent public accountants, and notified Crowe Chizek
and Company LLC that they have been dismissed as the Company's
independent public accountants, effective immediately.
Crowe Chizek and Company LLC performed audits of the consolidated
financial statements for the two years ended December 31, 2002 and
2001. Their reports 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.
During the two years ended December 31, 2002, and from December 31,
2002 through the effective date of Crowe Chizek and Company LLC's
dismissal, there have been no disagreements between the Company and
Crowe Chizek and Company LLC on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedure, which disagreements, if not resolved to the satisfaction of
Crowe Chizek and Company LLC, would have caused Crowe Chizek and
Company LLC to make reference to the subject matter of such
disagreements in connection with its report.
During the two years ended December 31, 2002, and from December 31,
2002 until the effective date of Crowe Chizek and Company LLC's
dismissal there have been no "reportable events" as defined in Item
304(a)(1)(v) of Regulation S-K.
Crowe Chizek and Company LLC has furnished a letter to the SEC dated
April 4, 2003, stating that it agrees with the above statements, and
such letter is attached hereto as Exhibit 16.
During the two years ended December 31, 2002 and from December 31,
2002 through the engagement of BKD LLP as the Company's independent
accountant, neither the Company nor anyone on its behalf had consulted
BKD LLP with respect to any accounting or auditing issues involving
the Company. In particular, there was no discussion with the Company
regarding the application of accounting principles to a specified
transaction either completed or proposed, the type of audit opinion
that might be rendered on the financial statements, or any other
matters or reportable event listed in Item 304 (a)(2)(i) or (ii) of
Regulation S-K.
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Exhibits
Exhibit Number Description
-------------- -----------
16 Letter of Crowe Chizek and Company LLC dated
April 4, 2003.
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SIGNATURES
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Pursuant to the requirement of the Securities Exchange Act of 1934,
the Company has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
COMMUNITY FINANCIAL SHARES, INC.
BY: /S/ DONALD H. FISCHER
-------------------------------------------
Donald H. Fischer, CEO & CFO
Date: April 4, 2003
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EXHIBIT INDEX
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Exhibit Number Description
-------------- -----------
16 Letter of Crowe Chizek and Company
LLC dated April 4, 2003.
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