First Capital Investment Corporation (NASDAQ:FBIZ) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01.
| (a) | Dismissal of previous independent registered public accounting firm: |
As previously reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2017, effectiveAugust 24, 2017, the Audit Committee (the “Audit Committee”) of the Board of Directors of First Capital Investment Corporation (the “Company") dismissedRSM US LLP ("RSM") as the Company's independent registered public accounting firm.
The Company provided RSM a copy of the disclosures included in the Current Report on Form 8-K filed on August 30, 2017 and requested that RSM furnish it with a letter addressed to the SEC stating whether or not RSM agreed with the Company's statements in Item 4.01(a) of such report. RSM’s response is filed as Exhibit 16.1 to this Current Report on Form 8-K.
In the second paragraph of its letter, RSM stated that, in its view, the Audit Committee dismissed RSM because of a disagreement on matters of accounting principles and financial statement disclosure. The Company disagrees with this statement. The Company believes that the Audit Committee dismissed RSM as a result of a disagreement between the Company and RSM over whether RSM should continue its review of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017 prior to the resolution of questions surrounding the Company’s investments in FC Retail, LLC, which were disclosed in the Current Report on Form 8-K filed on August 30, 2017. Since RSM did not complete its review of the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, the Company does not agree that the dismissal was related to a disagreement over accounting principles or financial statement disclosure.
| (b) | Engagement of new independent registered public accounting firm: |
In its Current Report on Form 8-K filed with the SEC on August 30, 2017, the Company announced that the Company’s Audit Committee engagedMalone Bailey LLP (“Malone Bailey”) as the Company’s independent registered public accounting firm effective as of August 24, 2017. The date of such engagement was inaccurate. The Company is in discussions with Malone Bailey and intends to engage them in the near future to serve as its independent registered public accounting firm.
| Item 9.01. | Financial Statements and Exhibits. |
First Capital Investment Corp ExhibitEX-16.1 2 v474683_ex16-1.htm EXHIBIT 16.1 Exhibit 16.1 FILED ON EDGAR 919 East Main Street Suite 1800 September 1,…To view the full exhibit click here
About First Capital Investment Corporation (NASDAQ:FBIZ)
First Business Financial Services, Inc. (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks). The operations of FBFS are conducted through the Banks and certain subsidiaries of FBB. The Banks operate as business banks focusing on delivering a line of commercial banking products, including commercial loans and commercial real estate loans, and services to meet the needs of small- and medium-sized businesses, business owners, executives, professionals and high net worth individuals. Its business lines include commercial lending, asset-based financing, equipment financing, small business administration (SBA) lending, treasury management services, and trust and investment services. Its investments include short-term investments and securities. First Capital Investment Corporation (NASDAQ:FBIZ) Recent Trading Information
First Capital Investment Corporation (NASDAQ:FBIZ) closed its last trading session down -0.18 at 21.27 with 12,568 shares trading hands.