SCHEDULE 14A

(RULE 14A-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

Filed by the registrant ¨

Filed by a party other than the registrant x

Check the appropriate box:

¨ Preliminary proxy statement.

¨ Confidential, for use of the Commission only (as permitted by Rule 14a-6(e)(2)).

¨ Definitive proxy statement.

x Definitive additional materials.

¨ Soliciting material under Rule 14a-12.

HARVARD ILLINOIS BANCORP, INC.

(Name of Registrant as Specified in its Charter)

STILWELL VALUE PARTNERS II, L.P.

STILWELL VALUE PARTNERS VII, L.P.

STILWELL PARTNERS, L.P.

STILWELL VALUE LLC

JOSEPH STILWELL

PETER WILSON

MARK S. SALADIN

(Name of Person(s) Filing Proxy Statement if Other Than the Registrant)

Payment of filing fee (check the appropriate box):

x No fee required.

¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

(1) Title of each class of securities to which transaction applies:

(2) Aggregate number of securities to which transaction applies:

(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

¨ Fee paid previously with preliminary materials.

¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.

(1) Amount Previously Paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing Party:

(4) Date Filed:

THE STILWELL GROUP

111 Broadway, 12^th Floor

New York, NY 10006

(212) 269-1551

INFO@STILWELLGROUP.COM

April 30, 2012

Dear Fellow HARI Stockholder,

In a letter to shareholders, Mr. Seyller asks you to vote for his re-election to the Board for reasons including his “role in helping guide Harvard Savings Bank back to profitability.” But this is the same man who oversaw the Bank’s diversion from profitability. While the entire Bank earned $4,000 last year, the Board paid Mr. Seyller $332,663.

It is our belief that HARI should be sold to a better run bank.

Mr. Seyller is 62 years old. If our nominee wins the election and the Bank is sold, Mr. Seyller will probably never see another $300k payday, nor will he likely fill another CEO position. The current Board members have served alongside Mr. Seyller for an average term of 9 years. It’s understandable why they would want to protect him in the twilight of his career, but their duty is to the shareholders, not their long-serving CEO.

It is our belief that the current Board has failed. If you agree with us and would like to maximize shareholder value – rather than the CEO’s compensation – please vote our GREEN proxy card.

Sincerely

/s/ Joseph Stilwell

Joseph Stilwell