SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 17, 2015
PILGRIM BANCSHARES, INC.
(Exact name of registrant as specified in
|(State or other jurisdiction of
||(Commission File No.)
|incorporation or organization)
|40 South Main Street, Cohasset, Massachusetts
|(Address of principal executive offices)
Registrant's telephone number, including area code: (781)
(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
|¨||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.
Pilgrim Bancshares, Inc. (the “Company”)
was notified that Shatswell, MacLeod & Company, P. C. (“Shatswell”), the Company’s independent registered
public accounting firm, combined its audit practice (the “Merger”) with Baker Newman & Noyes, P. A., LLC (“BNN”).
As a result of the Merger, effective August 17, 2015, Shatswell resigned as the Company’s independent registered public accounting
firm and BNN, as the successor to Shatswell following the Merger, was engaged as the Company’s independent registered public
accounting firm. The Company’s Audit Committee was notified of the Merger and the effective resignation of Shatswell and
approved the engagement of BNN.
During the years ended December 31, 2014
and 2013, and the subsequent interim period prior to the engagement of BNN, the Company did not consult with BNN regarding the
application of accounting principles to a specific completed or proposed transaction or regarding the type of audit opinion that
might be rendered by BNN on the Company’s financial statements, BNN did not provide any written or oral advice that was an
important factor considered by the Company in reaching a decision as to any such accounting, auditing or financial reporting issue,
and the Company did not consult with BNN regarding any of the matters or events set forth in Item 304(a)(2)(ii) of Regulation S-K.
The reports of Shatswell on the financial
statements of the Company for the years ended December 31, 2014 and 2013 contained no adverse opinion or disclaimer of opinion
and were not qualified or modified as to uncertainty, audit scope or accounting principle. In connection with its audits for the
years ended December 31, 2014 and 2013 and reviews of the Company’s financial statements through August 17, 2015, there were
no disagreements with Shatswell on any matter of accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of Shatswell, would have caused them to make reference
thereto in their reports, and there have been no reportable events as described in Item 304(a)(1)(v) of Regulation S-K.
The Company provided Shatswell with a copy
of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested that Shatswell
furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the above
statements and, if it does not agree, the respects in which it does not agree. A copy of the letter, dated August 17, 2015, is
filed as Exhibit 16.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
| 16.1||Letter, dated August 17, 2015 from Shatswell to the
Securities and Exchange Commission, regarding change in certifying accountant of the Company.
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.
||Pilgrim Bancshares, Inc.|
|Date: August 17, 2015
||/s/ Francis E. Campbell |
||Francis E. Campbell|
||President and Chief Executive Officer|
|Date: August 17, 2015
||/s/ Christopher G. McCourt|
Christopher G. McCourt
Senior Vice President, Chief Financial Officer and