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 (Date of earliest
event reported): September 3, 2002
BINGHAM FINANCIAL SERVICES CORPORATION
(Exact name of registrant as specified in its charter)
Michigan 0-23381 38-3313951
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
260 East Brown Street, Birmingham, MI 48009
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (248) 644-8838
(Former name or former address, if changed since last report.)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
On September 3, 2002, Bingham Financial Services Corporation
("Bingham") dismissed Plante & Moran, LLP ("Plante & Moran") as Bingham's
independent accountants. The reports of Plante & Moran on Bingham's financial
statements for the past two fiscal years contained no adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principle. The decision not to continue the
relationship with Plante & Moran was recommended by Bingham's Audit Committee
and approved by its Board of Directors.
For the fiscal year ended December 31, 2001, Bingham's management and
Plante & Moran disagreed on the value of certain deferred tax assets. Bingham's
audit committee discussed the subject matter of the disagreement with Plante &
Moran and the disagreement was resolved to the satisfaction of Plante & Moran
prior to the issuance of Plante & Moran's audit report for the year ended
December 31, 2001. Bingham has authorized Plante & Moran to respond fully to the
inquiries of Bingham's successor independent accountants concerning the subject
matter of the disagreement.
Other than as described in the preceding paragraph, during Bingham's
two most recent fiscal years and through September 3, 2002, there have been no
disagreements with Plante & Moran 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 Plante & Moran, would have
caused it to make reference thereto in its reports on the financial statements.
Bingham has submitted a copy of this Form 8-K to Plante & Moran and has
requested that Plante & Moran furnish Bingham with a letter addressed to the
Securities Exchange Commission stating whether it agrees with the statements
made herein and, if not, stating the respects in which it does not agree.
Attached hereto as Exhibit 16 is the letter from Plante & Moran.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
16. Letter dated September 10, 2002 from Plante & Moran, LLP stating
whether it agrees with the statements set forth in Item 4 of this form
8-K
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
Bingham has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BINGHAM FINANCIAL SERVICES CORPORATION
/s/ Ronald A. Klein
--------------------------------------------------
Name: Ronald A. Klein
Title: President and Chief Executive Officer
Dated: September 10, 2002
EXHIBIT INDEX
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EXHIBIT NO. DESCRIPTION
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16 Letter dated September 10, 2002 from Plante & Moran, LLP stating
whether it agrees with the statements set forth in Item 4 of
this form 8-K (Filed herewith.)