Bank First National Corporation (OTCMKTS:BFNC) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01
(a)Previous Independent Registered Public Accounting Firm
OnNovember 29, 2018, the Audit Committee of the Board of Directors (the "Audit Committee") of Bank First National Corporation (the "Company") approved the dismissal of CliftonLarsonAllen LLP (“CLA”) as the Company’s independent registered public accounting firm, effectiveNovember 29, 2018. The Company provided CLA with notice of such dismissal onNovember 29, 2018.
On February 27, 2018 the Audit Committee approved CLA to serve as the Company’s independent registered public accounting firm for the year ending December 31, 2018. Therefore, CLA has not audited the Company’s financial statements for the two most recent fiscal years, and hence there is no report of CLA that contains any adverse opinion or disclaimer of opinion, or is qualified or modified as to uncertainty, audit scope or accounting principles. In addition, during the interim period from February 27, 2018 through November 29, 2018, there were no “disagreements” (as described in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and CLA on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements, if not resolved to CLA’s satisfaction, would have caused CLA to make reference in connection with CLA’s opinion to the subject matter of the disagreement.
The Company provided CLA with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested that CLA furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with above statements and, if it does not agree, the respects in which it does not agree. A copy of the letter from CLA, dated December 6, 2018, is filed as Exhibit 99.1 (which is incorporated by reference herein) to this Current Report on Form 8-K.
(b)New Independent Registered Public Accounting Firm
OnNovember 29, 2018, the Audit Committee made the decision to engagePorter Keadle Moore, LLC("PKM") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2018. PKM has previously served as the Company’s independent registered accounting firm during the years ended December 31, 2017 and 2016, and the subsequent interim period from January 1, 2018 through February 27, 2018 when PKM was dismissed and CLA was approved. PKM was also engaged on a one-time basis from May 24, 2018 to August 15, 2018 to reissue its report on the Company’s consolidated financial statements for the years ended December 31, 2017 and 2016 under the standards of the Public Company Accounting Oversight Board in connection with the Company’s filing of its Form 10 Registration Statement with the Securities and Exchange Commission.
Therefore, during the years ended December 31, 2017 and 2016 and the subsequent interim period from January 1, 2018 through February 27, 2018 and from May 24, 2018 through August 15, 2018, (1) the Company has consulted PKM regarding the application of accounting principles to a number of transactions and audit opinions on the Company’s financial statements, and PKM has provided written reports and/or oral advice to the Company that PKM concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issues, and (2)(i) the Company did not have any disagreements with PKM 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 PKM, would have caused PKM to make reference to the subject matter of the disagreements in connection with its report on the consolidated financial statements for such periods, and (ii) there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.
In addition, during the interim period from February 27, 2018 through May 24, 2018 and from August 15, 2018 through November 29, 2018, the Company did not consult PKM regarding (1) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report or oral advice was provided to the Company that PKM concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, and (2) any matter that was the subject of a “disagreement” or a “reportable event”, each as defined in Regulation S-K Item 304(a)(1)(iv) and Item 304(a)(1)(v), respectively.
| Item 9.01 | Financial Statements and Exhibits. |
Bank First National Corp ExhibitEX-99.1 2 tv508611_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 CLA (CliftonLarsonAllen LLP) 10700 West Research Drive,…To view the full exhibit click here
About Bank First National Corporation (OTCMKTS:BFNC)
Bank First National Corporation is the holding company for Bank First National (the Bank). The Company provides a range of financial services to individual and business customers. The Bank is an independent community bank. It offers personal and business banking services. Its personal banking services include savings, checking, loans and electronic banking. Its personal savings accounts include certificates of deposit (CD), individual retirement account (IRA) savings account and health savings accounts. Its business banking services include savings, checking, credit cards and treasury management. It offers deposit accounts, CD account registry service (CDARS) and health savings accounts. The Bank offers real estate loans, home equity loans, installment and consumer loans, working capital lines of credit, equipment loans, loans for business expansion, real estate loans, construction/development loans, small business administration (SBA) loans and farm/crop/livestock loans.
