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) March 10, 2006
--------------
Stewardship Financial Corporation
(Exact Name of Registrant as Specified in its Charter)
New Jersey 0-21855 22-3351447
-------------------------------- ------------ -------------------
(State or Other Jurisdiction of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
630 Godwin Avenue, Midland Park, NJ 07432
-------------------------------------------- ------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (201) 444-7100
------------------------------
--------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (See General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17CFR230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17CFR 240.13e-4(c))
Item 4.01 Changes in Registrant's Certifying Accountant
On March 10, 2006 the Audit Committee of Stewardship Financial
Corporation ("SFC" or the "Corporation") dismissed KPMG LLP ("KPMG") as
SFC's principal accountants. KPMG will complete the audit of SFC's
financial statements for the fiscal year ended December 31, 2005.
Concurrently, the Audit Committee of SFC approved the engagement of
Crowe Chizek and Company LLC ("Crowe") as SFC's principal accountants.
Crowe will serve as SFC's principal accountants beginning with the
fiscal year ended December 31, 2006.
During SFC's two most recent fiscal years and through the date of this
Current Report on Form 8-K, neither SFC nor anyone acting on SFC's
behalf consulted with Crowe regarding (1) the application of accounting
principles to a specified transaction or the type of audit opinion that
might be rendered on SFC's financial statements or (2) any of the
matters or events set forth in Item 304(a)(2)(ii) of Regulation S-K.
In connection with the audits of SFC's consolidated financial
statements for the fiscal years ended December 31, 2004 and 2003 and
the subsequent period through March 10, 2006, there were: (1) no
disagreements with KPMG on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or
procedures, which disagreements if not resolved to KPMG's satisfaction
would have caused them to make reference in connection with their
opinion to the subject matter of the disagreement, or (2) no reportable
events. Further, the audit reports of KPMG on SFC's consolidated
financial statements as of and for the years ending December 31, 2004
and 2003 did not contain any adverse opinion or a disclaimer of
opinion, nor were they qualified or modified as to uncertainty, audit
scope or accounting principles.
SFC has requested from KPMG that it furnish a letter addressed to the
Securities and Exchange Commission stating whether KPMG agrees with the
above statements. A copy of that letter, dated March 16, 2006, is filed
as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99.1 Letter from KPMG LLP to the Securities and Exchange Commission
dated as of March 16, 2006.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 16, 2006 Stewardship Financial Corporation
/s/ Julie E. Holland
----------------------------------------
Julie E. Holland
Senior Vice President and Treasurer