SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 21, 1997 First Federal Bancorporation - - ----------------------------------------------------------------- (Exact name of Registrant as specified in its charter) Minnesota 0-25704 41-1796238 - - ----------------------------------------------------------------- - - -- (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 214 Fifth Street, Bemidji, Minnesota 56601 ___________________________________________ --------- - - -- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (218) 751- 5120 ------------- - - - Not Applicable - - ----------------------------------------------------------------- - - -- (Former name or former address, if changed since last report) Item 4. Changes in Registrant's Certifying Accountant. --------------------------------------------- On January 21, 1997, First Federal Bancorporation (the "Registrant"), with the approval of the Board of Directors, determined to dismiss the Registrant's independent public auditors, KPMG Peat Marwick LLP, and to engage McGladrey & Pullen LLP. The Board of Directors' decision to engage McGladrey & Pullen is based on the resources of that firm's community-based financial institution practice in Minnesota. KPMG Peat Marwick LLP's reports on the financial statements of the Registrant for the past two fiscal years did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles, except that the report refers to the changes in First Federal Bancorporation's method of accounting for securities and its method of accounting for income taxes during the year ended September 30, 1994. During the two most recent fiscal years and the interim period subsequent to October 25, 1996, through January 21, 1997 (date of dismissal), there have not been any disagreements between the Registrant and KPMG Peat Marwick LLP on any matter of accounting principles or practices, consolidated financial statement disclosure or audit scope or procedure. McGladrey & Pullen has been engaged as the Registrant's independent public auditors effective immediately. The Registrant has not requested or obtained any advice from McGladrey & Pullen concerning any material accounting, auditing or financial reporting issue regarding the application of accounting principles to a specified transaction or the type of audit opinions that might be rendered on the Registrant's consolidated financial statements. A copy of a letter from KPMG Peat Marwick LLP in response to this item is attached hereto as Exhibit 16. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. -------------------------------------------------------- - - -- Exhibit 16 Letter From KPMG Peat Marwick LLP, the Registrant's Former Accountant 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. FIRST FEDERAL BANCORPORATION By: /s/ William R. Belford ---------------------------- William R. Belford President and Chief Executive Officer Date: January 27, 1997