Seacoast Financial Services Corporation engages KPMG

Seacoast Financial Services Corporation, holding company for CompassBank and Nantucket Bank, announced that it has dropped Arthur Anderson as its independent accountants effective upon adjournment of the Seacoast Annual Meeting of Stockholders held last Thursday. KPMG LLP will replace Arthur Andersen.



The decision to change auditors was not the result of any disagreement between the company and Arthur Andersen on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, Seacoast said.



Seacoast Financial Services Corporation is the holding company for CompassBank and Nantucket Bank and is headquartered in New Bedford, Mass. CompassBank is a $3 billion state chartered savings bank serving Southeastern Mass. through a network of 39 full service branch offices and 7 remote ATMs, a customer call center and on-line banking. Nantucket Bank is a $400 million state chartered savings bank serving Nantucket Island with three full service branch offices. The banks provide a wide array of financial services including consumer banking, mortgage lending, commercial lending, consumer finance, private banking and alternative investments to retail and business customers.