SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) August 28, 2002
BLACKHAWK BANCORP, INC.
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(Exact name of registrant as specified in its charter)
Wisconsin 0-18599 39-1659424
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(State or other jurisdiction (Commission File Number) (IRS Employer Number)
of incorporation)
400 Broad Street, Beloit, WI 53511
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (608) 364-8911
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Item 4. Changes in Registrant's Certifying Accountant
On August 27, 2002, the Audit Committee of the Board of Directors of Blackhawk
Bancorp, Inc. ("the Company") approved a change in auditors. The Board of
Directors ratified the Audit Committee's engagement of McGladrey & Pullen, LLP
to serve as the Company's independent public accountants and replacement of
Wipfli Ullrich Bertelson LLP (Wipfli") as the Company's independent public
accountants, effective August 28, 2002.
Wipfli performed audits of the consolidated financial statements for the two
years ended December 31, 2001 and 2000. Their reports did not contain an adverse
opinion or a disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope, or accounting principles.
During the two years ended December 31, 2001, and from December 31, 2001 through
the effective date of the Wipfli termination, there have been no disagreements
between the Registrant and Wipfli on any matter of accounting principles or
practice, financial statement disclosure, or auditing scope or procedure, which
disagreements would have caused Wipfli to make reference to the subject matter
of such disagreements in connection with this report.
During the two years ended December 31, 2001, and from December 31, 2001 until
the effective date of the dismissal of Wipfli, Wipfli did not advise the
Registrant of any of the following matters:
1. That the internal controls necessary for the Registrant to develop reliable
financial statements did not exist;
2. That information had come to Wipfli's attention that had lead it to no
longer be able to rely on management's representations, or that had made it
unwilling to be associated with the financial statements prepared by
management;
3. That there was a need to expand significantly the scope of the audit of the
Registrant, or that information had come to Wipfli's attention that if
further investigated: (i) may materially impact the fairness or reliability
of either a previously-issued audit report or underlying financial
statements, or the financial statements issued or to be issued covering the
fiscal periods subsequent to the date of the most recent financial
statements covered by an audit report (including information that may
prevent it from rendering an unqualified audit report on those financial
statements) or (ii) may cause it to be unwilling to rely on management's
representation or be associated with the Registrant's financial statements
and that, due to its dismissal, Wipfli did not so expand the scope of its
audit or conduct such further investigation;
4. That information had come to Wipfli's attention that it had concluded
materially impacted the fairness or reliability of either: (i) a
previously-issued audit report or the underlying financial statements or
(ii) the financial statements issued or to be issued covering the fiscal
period subsequent to the date of the most recent financial statements
covered by an audit report (including information that, unless resolved to
the accountant's satisfaction, would prevent it from rendering an
unqualified audit report on those financial statements), or that, due to
its dismissal, there were no such unresolved issues as of the date of its
dismissal.
Wipfli has furnished a letter to the SEC dated August 29, 2002, stating that it
agrees with the above statements, and is attached hereto as Exhibit 1.
During the two years ended December 31, 2001, and from December 31, 2001 through
engagement of McGladrey & Pullen, LLP as the Registrant's independent
accountant, neither the Registrant nor anyone on its behalf had consulted
McGladrey & Pullen, LLP with respect to any accounting or auditing issues
involving the Registrant. In particular, there was no discussion with the
Registrant regarding the application of accounting principles to a specified
transaction, the type of audit opinion that might be rendered on the financial
statements, or any related item.
Item 7. Financial Statements and Exhibits
(C) EXHIBITS.
16.1 Letter from Wipfli Ullrich Bertelson LLP dated August 29, 2002.
99 Press Release dated August 29, 2002.
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 thereunto duly authorized.
Date: August 29, 2002 BLACKHAWK BANCORP, INC.
/s/Todd J. James
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Todd J. James
Senior Vice President and CFO
EXHIBIT INDEX TO FORM 8-K OF
BLACKHAWK BANCORP, INC.
DATED AUGUST 28, 2002
Pursuant to Section 102(d) of Regulation S-T
EXHIBIT DESCRIPTION
16.1 Letter to Securities and Exchange Commission dated August 29, 2002
from Wipfli Ullrich Bertelson LLP.
99 Press Release dated August 29, 2002.