As filed with the Securities and Exchange Commission on March 25, 2002
================================================================================
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: March 25, 2002
(Date of earliest event reported: March 21, 2002)
United Security Bancshares, Inc.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 0-14549 63-0843362
- ---------------------------- ------------------- -------------------
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
131 West Front Street
Post Office Box 249
Thomasville, Alabama 36784
---------------------------------------- -----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (334) 636-5424
--------------
NOT APPLICABLE
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
================================================================================
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On March 21, 2002, United Security Bancshares, Inc. ("Bancshares"),
a Delaware corporation, dismissed Arthur Andersen LLP ("Andersen")
as its independent auditor and engaged Ernst & Young LLP as its new
independent auditor. The change in auditors became effective March
22, 2002, subsequent to filing of Bancshares' Annual Report on Form
10-K. The decision to dismiss Andersen was recommended by
Bancshares' Audit Committee and approved by its Board of Directors.
The reports of Andersen on Bancshares' financial statements for the
years ended December 31, 2001 and 2000 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 years ended December 31, 2001 and 2000, and in the
interim period between December 31, 2001 and March 22, 2002, there
were no disagreements with Andersen on any matters of accounting
principles or practices, financial statement disclosure, or
auditing scope or procedures which, if not resolved to the
satisfaction of Andersen would have caused Andersen to make
reference to the matter in their report. During the years ended
December 31, 2001 and 2000, and the interim period between December
31, 2001 and March 22, 2002, there were no "reportable events" (as
defined in Item 304(a)(1)(v) of Regulation S-K promulgated by the
Securities and Exchange Commission). A letter from Andersen is
attached as Exhibit 16 to this Form 8-K.
During the years ended December 31, 2001 and 2000, and the interim
period between December 31, 2001 and March 22, 2002, Bancshares did
not consult with Ernst & Young LLP regarding any of the matters or
events set forth in Item 304(a)(2)(i) and (ii) of Regulation S-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
16. Letter of Arthur Andersen LLP regarding change in
certifying accountant
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
United Security Bancshares, Inc.
Date: March 25, 2002 By: /s/ Larry M. Sellers
----------------------------------
Name: Larry M. Sellers
Vice President, Secretary, and
Treasurer (Duly Authorized Officer
And Principal Financial Officer)