Summary of STEWARDSHIP FINANCIAL CORP

Item 4.01. Changes in Registrant's Certifying Accountant

(a) On January 28, 2013, the Audit Committee of the Board of Directors of Stewardship Financial Corporation (the "Corporation") completed a competitive process concerning the appointment of the Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2013. The Audit Committee invited several firms to participate in this process. As a result of this process and following careful deliberation, on January 28, 2013, the Audit Committee notified Crowe Horwath LLP ("Crowe"), the Corporation's current independent registered public accounting firm, that it had determined not to renew Crowe's engagement as such for the fiscal year ending December 31, 2013. Crowe's engagement as the Corporation's independent registered public accounting firm for the audit of its consolidated financial statements for the fiscal year ending December 31, 2012 is unaffected by this determination and the non-renewal of the engagement will become effective upon the completion of Crowe's audit of the Corporation's financial statements as of and for the fiscal year ended December 31, 2012 and the filing of the related Annual Report on Form 10-K.

In connection with the audits of the Corporation's consolidated financial statements for the fiscal years ended December 31, 2011 and 2010 and the subsequent period through the date of this Current Report on Form 8-K, there were: (i) no disagreements with Crowe on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to Crowe's satisfaction, would have caused Crowe to make reference in connection with their opinion to the subject matter of the disagreement(s); and (ii) no "reportable events" as that term is defined in Item 304(a)(1)(v) of Regulation S-K. Further, the audit reports of Crowe relating to the Corporation's consolidated financial statements as of and for the fiscal years ending December 31, 2011 and 2010 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.

The Corporation provided Crowe with a copy of this Current Report on Form 8-K prior to filing it with the Securities and Exchange Commission (the "SEC") and requested and received from Crowe a letter addressed to the SEC stating that Crowe agrees with the statements made herein. A copy of that letter, dated February 1, 2013, is attached as Exhibit 16.1 to this Current Report on Form 8-K and is incorporated herein by reference.

(b) On January 28, 2013, the Audit Committee concurrently approved the selection of KPMG LLP ("KPMG") to serve as the Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2013, subject to the execution of a definitive engagement letter. During the two fiscal years ended December 31, 2011 and 2010 and the subsequent interim period through the date of filing of this Form 8-K, neither the Corporation nor anyone acting on the Corporation's behalf consulted with KPMG regarding: (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Corporation's financial statements, and neither a written report nor oral advice was provided to the Corporation by KPMG that was an important factor considered by the Corporation in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of disagreement or a reportable event, as such terms are described in Item 304(a)(1)(iv) and (v) of Regulation S-K.