8-K 1 form8k.txt FORM 8-K 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) May 24, 2007 ___________________________ First Keystone Financial, Inc. _____________________________________________________________________________ (Exact name of registrant as specified in its charter) Pennsylvania 000-25328 23-2576479 _____________________________________________________________________________ (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 22 West State Street, Media, Pennsylvania 19063 _____________________________________________________________________________ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (610) 565-6210 _________________________ Not Applicable _____________________________________________________________________________ (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 (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 4.01 Changes in Registrant's Certifying Accountant. ______________________________________________ On May 24, 2007, (the "Notice Date") the Audit Committee of the Board of Directors of First Keystone Financial, Inc. (the "Company") notified Deloitte & Touche LLP that it had been dismissed as the Company's independent registered public accounting firm, effective immediately. On the Notice Date, the Audit Committee notified S.R. Snodgrass, A.C. that it had been selected to serve as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2007. Deloitte & Touche LLP performed audits of the Company's consolidated financial statements for the years ended September 30, 2006 and 2005. Deloitte & Touche LLP's 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 September 30, 2006, and from September 30, 2006 through the effective date of Deloitte & Touche LLP's termination, there have been no disagreements between the Company and Deloitte & Touche LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements would have caused Deloitte & Touche LLP to make reference to the subject matter of such disagreements in connection with its report. None of the "reportable events" described in Item 304(a)(1)(v) of Regulation S-K promulgated by the Securities and Exchange Commission (the "SEC") pursuant to the Securities Exchange Act of 1934, as amended, have occurred during the two years ended September 30, 2006, or through the effective date of Deloitte & Touche LLP's termination. The Company requested that Deloitte & Touche LLP furnish it with a letter addressed to the SEC stating whether or not Deloitte & Touche LLP agreed with the statements made by the Company set forth above, and if not, stating the respects in which Deloitte & Touche LLP did not agree. The Company provided Deloitte & Touche LLP with a copy of the foregoing disclosures. Deloitte & Touche LLP has furnished a letter addressed to the SEC dated May 24, 2007, a copy of which is attached hereto as Exhibit 16. During the two years ended September 30, 2006 and from September 30, 2006 through engagement of S.R. Snodgrass, A.C. as the Company's independent registered public accounting firm, neither the Company nor anyone on its behalf has consulted S.R. Snodgrass, A.C. with respect to any accounting or auditing issues involving the Company. In particular, there was no discussion with the Company 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 matter that was either the subject of a disagreement with Deloitte & Touche LLP on accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if 2 not resolved to the satisfaction of Deloitte & Touche LLP, would have caused Deloitte & Touche LLP to make reference to the matter in their report, or a "reportable event" as described in Item 304(a)(1)(v) of the Regulation S-K promulgated by the SEC. ITEM 9.01 Financial Statements and Exhibits _________________________________ (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits The following exhibits are filed herewith. Exhibit Number Description ___________________ __________________________________________________ 16.0 Letter of Deloitte & Touche LLP dated May 24, 2007 3 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. FIRST KEYSTONE FINANCIAL, INC. Date: May 30, 2007 By: /s/ Rose M. DiMarco ________________________ Rose M. DiMarco Chief Financial Officer 4