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): ~~January~~August 1224, 2012

COVENANT BANCSHARES, INC.

(Exact Name of Registrant as Specified in its Charter)

000-53989

(Commission File Number)

Delaware	80-0092089
(State or other Jurisdiction of Incorporation)	(I.R.S. Employer Identification No.)

7306 West Madison Street

Forest Park, Illinois 60130

(Address of Principal Executive Offices)

(~~708~~773) ~~366~~533-~~0200~~6900

(Registrant’s Telephone Number, Including Area Code)

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:

	o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o[ ~~Pre-commencement~~] ~~communications~~Soliciting material pursuant to Rule ~~14d~~14a-~~2(b)~~12 under the Exchange Act (17 CFR 240.~~14d~~14a-~~2(b~~12))

o[ ] Pre-commencement communications pursuant to Rule ~~13e~~14d-42(cb) under the Exchange Act (17 CFR 240.~~13e~~14d-42(cb))

~~Item~~[ ] Pre-commencement communications pursuant to Rule 13e-4~~.01~~(bc) ~~Changes~~ inunder ~~Registrant’s~~the ~~Certifying~~Exchange ~~Accountant~~Act (17 CFR 240.13e-4(c))

~~Engagement~~Item of3.02 Unregistered ~~New~~Sales ~~Independent~~of ~~Registered~~Equity ~~Public Accounting Firm~~Securities.

~~Effective~~On ~~January~~August 1224, 2012, Covenant Bancshares, Inc. (the “Company”) ~~engaged~~sold ~~Wipfli~~a ~~LLP~~total of $75,000 of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A par value $25,000 per share (the “~~Wipfli~~Preferred Stock”) asin ~~the~~transactions ~~Company's~~exempt ~~independent~~from ~~registered~~the ~~public~~Securities ~~accounting~~Act ~~firm~~of ~~for~~1933, as amended (the ~~fiscal~~“Securities ~~year~~Act”), ~~ended~~to ~~December 31~~William Winston, ~~2011~~ the Company’s Chairman and ~~any~~Chief ~~interim~~Executive ~~periods~~Officer. The ~~decision~~Preferred toStock ~~change~~will ~~auditors~~pay ~~was~~cumulative ~~the~~dividends ~~result~~at of a ~~request~~rate ~~for~~of ~~proposal~~2% ~~process~~per ~~that involved multiple firms~~year. AsThe Company previously ~~disclosed~~sold ina ~~the~~total ~~Company’s~~of ~~Form 8-K~~$50,000 ~~filed~~of ~~with~~its ~~the~~Preferred ~~SEC~~Stock onto ~~September 23,~~Dr. ~~2011,~~Winston ~~McGladrey &~~on ~~Pullen,~~April ~~LLP (“McGladrey”)~~27, ~~informed~~2012. Subsequent ~~the~~to ~~Company~~such bysales aof ~~letter~~the ~~dated~~Preferred ~~September 19~~Stock, ~~2011,~~there ~~that~~were ~~McGladrey~~a ~~would~~total ~~resign~~of as28 ~~the~~shares ~~Company’s~~of ~~independent~~Preferred ~~registered~~Stock ~~public~~issued ~~accounting~~and ~~firm~~outstanding ~~effective~~totaling ~~upon~~$700,000, ~~completion~~all of ~~the~~which ~~audit~~is ~~for~~owned ~~the~~by ~~year~~Dr. ~~ended~~Winston ~~December 31,~~or ~~2010~~entities controlled by him. AsThe shares of ~~the~~Preferred ~~date~~Stock ~~hereof,~~were ~~McGladrey~~not ~~has~~registered ~~not~~under ~~completed~~the ~~any~~Securities ~~audit~~Act ~~report~~in onreliance upon the ~~Company’s~~exemption ~~consolidated~~from ~~financial~~registration ~~statements~~provided by Section 4(2) thereof for ~~any~~transactions ~~period~~not ~~subsequent~~involving toa ~~December 31,~~public ~~2009~~offering.

During the Company’s fiscal years ended December 31, 2011 and 2010 and prior to January 12, 2012, neither the Company nor anyone acting on its behalf has consulted with Wipfli with respect to either (i) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and neither written nor oral advice was provided to the Company that Wipfli concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).

We provided Wipfli with a copy of this report and the opportunity to provide to the Company a letter addressed to the SEC containing any new information, clarification of the expression of our views, or the respects in which it does not agree with the statements made by us in this report. Wipfli has advised us that it has reviewed the disclosures in this report and has no basis upon which to submit such a letter.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COVENANT BANCSHARES, INC. Date: ~~April~~August 530, 2012 By: /s/Herman L. Davis________________________ Herman L. Davis Sr. Vice President, CFO, Secretary and Treasurer

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