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 (Date of earliest event reported) November 7, 1996
QCF BANCORP, INC.
(Exact name of registrant as specified in its charter)
Minnesota 0-25700 41-1796789
(State or other jurisdiction of (Commission (I.R.S. employer
incorporation) file number) identification no.)
501 Chestnut Street, Virginia, Minnesota 55792
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (218) 741-2040
Not Applicable
(Former name or former address, if changed since last report)
Exhibit Index on Page 2
Page 1 of 4 Pages
Item 4. Changes in Registrant's Certifying Accountant
(a) At its board meeting on November 7, 1996, the Board of Directors of QCF
Bancorp, Inc. engaged the accounting firm of McGladrey & Pullen LLP as
independent accountants for the Registrant for the fiscal year ending June
30, 1997. The work of KPMG Peat Marwick LLP was terminated on November 7,
1996.
(b) During the two most recent fiscal years and interim period subsequent to
June 30, 1996 through November 7, 1996 (date of termination), there have
been no disagreements with KPMG Peat Marwick LLP on any matter of
accounting principles or practices, financial statement disclosure, or
auditing scope or procedure or any reportable events.
(c) QCF Bancorp's report on the financial statements for the past two years
contained no adverse opinion or disclaimer of opinion and was not qualified
or modified as to uncertainty, audit scope or accounting principles, except
that the report referred to the changes in QCF Bancorp's method of
accounting for securities during the year ended June 30, 1995 and its
method of accounting for income taxes during the year ended June 30,1994. .
(d) The Registrant has requested that KPMG Peat Marwick LLP furnish it with a
letter addressed to the SEC stating whether it agrees with the above
statements. A copy of Discharged's letter to the SEC, dated November 12,
1996, is filed as Exhibit 16 to the Form 8-K.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
The following is a list of exhibits filed with this current report on Form 8-K
indexed to their location in the sequentially numbered copy.
Exhibit No. Page No.
16 Letter from KPMG Peat Marwick LLP, 4
dated November 12, 1996.
Page 2 of 4 Pages
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
QCF Bancorp, Inc.
Registrant
Date: November 12, 1996 /S/ Daniel F. Schultz
-------------------- -----------------------------------
Daniel F. Schultz
Vice President/Treasurer
(Principal Financial Officer)
Page 3 of 4 Pages
November 12, 1996
Securities and Exchange Commission
Washington, D.C, 20549
Ladies and Gentlemen:
We were previously principal accountants for QCF Bancorp, Inc. and, under the
date of August 20, 1996, we reported on the consolidated financial statements
of QCF Bancorp, Inc. and subsidiary as of June 30, 1996 and 1995 and for each of
the years in the three year period ended June 30, 1996. Our report refers to the
changes in QCF Bancorp,Inc's method of accounting for securities during the year
ended June 30, 1995 and its method of accounting for income taxes during the
year ended June 30, 1994. On November 7, 1996, our appointment as principal
accountants was terminated. We have read QCF Bancorp, Inc.'s statement included
under Item 4 of its Form 8-k dated November 12, 1996, and we agree with such
statements, except that we are not in a position to agree or disagree with QCF
Bancorp, Inc.'s statement that the change was approved by the board of
directors.
Very truly yours,
KPMG Peat Marwick LLP
Page 4 of 4 pages