SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 13, 2006 (March 10, 2006)
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Stewardship Financial Corporation
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(Exact Name of Registrant as Specified in its Charter)
New Jersey 0-21855 22-3351447
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(State or Other Jurisdiction of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
630 Godwin Avenue, Midland Park, NJ 07432
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (201) 444-7100
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (See General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17CFR230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17CFR 240.13e-4(c))
Item 4.01 Changes in Registrant's Certifying Accountant
Explanatory Note: The Registrant filed (i) a Current Report on Form 8-K
dated March 10, 2006 (the "Original Form 8-K") to report the decision of
the Audit Committee of the Registrant to dismiss and replace the
Registrant's principal accountants, and (ii) a Current Report on Form
8-K/A dated March 31, 2006 (the "Form 8-K/A") to include Exhibit 16.1
attached thereto and to update the information previously provided on the
Original Form 8-K as of the date thereof. This Amendment is being filed to
amend paragraph four of the Form 8-K/A to reflect any disagreements and/or
reportable events from March 10, 2006 through the completion of the audit
and termination of KPMG LLP on March 29, 2006 and to include an updated
Exhibit 16.1 attached hereto.
On March 10, 2006, the Audit Committee of Stewardship Financial
Corporation ("SFC" or the "Corporation") dismissed KPMG LLP ("KPMG") as
SFC's principal accountants. In connection therewith, KPMG agreed to
complete the audit of SFC's financial statements for the fiscal year ended
December 31, 2005. KPMG completed the audit of SFC's financial statements
for the fiscal year ended December 31, 2005 on March 29, 2006, and was
terminated by the Corporation on that date.
On March 10, 2006, the Audit Committee of SFC approved the engagement of
Crowe Chizek and Company LLC ("Crowe") as SFC's principal accountants.
Crowe will serve as SFC's independent auditors beginning with the fiscal
year ending December 31, 2006.
During SFC's two most recent fiscal years and the subsequent period
through March 10, 2006, neither SFC nor anyone acting on SFC's behalf
consulted with Crowe regarding: (1) the application of accounting
principles to a specified transaction or the type of audit opinion that
might be rendered on SFC's financial statements, or (2) any of the matters
or events set forth in Item 304(a)(2)(ii) of Regulation S-K.
In connection with the audits of SFC's consolidated financial statements
for the fiscal years ended December 31, 2005 and 2004 and the subsequent
period through March 29, 2006, there were: (1) no disagreements with KPMG
on any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedures, which disagreements if not
resolved to KPMG's satisfaction would have caused them to make reference
in connection with their opinion to the subject matter of the
disagreement, or (2) no reportable events. Further, the audit reports of
KPMG in SFC's consolidated financial statements as of and for the years
ending December 31, 2005 and 2004 did not contain any adverse opinion or a
disclaimer of opinion, nor were they qualified or modified as to
uncertainty, audit scope or accounting principles.
SFC has requested from KPMG that it furnish a letter addressed to the
Securities and Exchange Commission stating whether KPMG agrees with the
above statements. A copy of that letter, dated April 13, 2006, is filed
as Exhibit 16.1 to this Current Report on Form 8-K/A.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
16.1 Letter from KPMG LLP to the Securities and Exchange Commission dated
as of April 13, 2006.
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.
Date: April 13, 2006 Stewardship Financial Corporation
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/s/ Paul Van Ostenbridge
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Paul Van Ostenbridge
President and Chief Executive Officer