0001437749-14-000042.txt : 20140102 0001437749-14-000042.hdr.sgml : 20140101 20140102160224 ACCESSION NUMBER: 0001437749-14-000042 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20131230 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140102 DATE AS OF CHANGE: 20140102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Harvard Illinois Bancorp, Inc. CENTRAL INDEX KEY: 0001471266 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53935 FILM NUMBER: 14501802 BUSINESS ADDRESS: STREET 1: 58 NORTH AYER STREET CITY: HARVARD STATE: IL ZIP: 60033 BUSINESS PHONE: (815) 943-5261 MAIL ADDRESS: STREET 1: 58 NORTH AYER STREET CITY: HARVARD STATE: IL ZIP: 60033 8-K 1 hari20131231_8k.htm FORM 8-K hari20131231_8k.htm

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): December 30, 2013

 

HARVARD ILLINOIS BANCORP, INC.

(Exact name of Registrant as specified in its charter)

 

Maryland

(State or Other Jurisdiction

of Incorporation)

000-53935

(Commission

File Number)

27-2238553

(I.R.S. Employer

Identification No.)

 

58 North Ayer Street, Harvard, Illinois 60033

 (Address of principal executive offices)

 

(815) 943-5261

Registrant's telephone number, including area code

 

Not Applicable

(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 provisions:

 

☐

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 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On December 30, 2013, Duffield J. Seyller III notified the Board of Directors of Harvard Illinois Bancorp, Inc. (the “Company”) and Harvard Savings Bank (the “Bank”) that he will retire as President and Chief Executive Officer of the Company and the Bank effective February 28, 2014. Mr. Seyller will continue to serve on the Board of Directors of the Company and the Bank.

 

Also on December 30, 2013, the Board of Directors of the Company and the Bank appointed Donn L. Claussen, 55, as President and Chief Executive Officer of the Company and the Bank, effective March 1, 2014. Mr. Claussen is currently the Executive Vice President and Chief Financial Officer of the Company and the Bank and oversees the accounting and investment areas. He has been employed with the Bank since 2007 and with the Company since its formation. Previously, Mr. Claussen was a partner with the accounting firm of Lindgren, Callihan, Van Osdol & Co., Ltd., Rockford, Illinois, specializing in financial institution matters.

 

In connection with Mr. Claussen’s appointment as President and Chief Executive Officer, on December 30, 2013, the Board of Directors of the Company and the Bank appointed David Dobson, 52, as Vice President and Chief Financial Officer of the Company and the Bank, effective March 1, 2014. Mr. Dobson is currently the Controller of the Bank. Mr. Dobson is a certified public accountant and a 2013 graduate of the Graduate School of Banking at the University of Wisconsin – Madison, and has been employed with the Bank since 2010. Previously, he held the position of manager at a regional accounting firm in northern Illinois, serving thrifts and small businesses, and later joined a real estate management and development company in Rockford as Vice President of Housing.

 

In addition, on December 30, 2013, the Board of Directors of the Company and the Bank appointed Richard J. Lipinsky, 50, as Executive Vice President, Treasurer and Secretary of the Company and the Bank, effective March 1, 2014. Mr. Lipinsky is currently the Secretary and Treasurer of the Company and the Bank. He oversees the operations and information technology areas. Mr. Lipinsky has been employed with Harvard Savings Bank since 1986.

 

Item 8.01

Other Events.

 

On December 30, 2013, the Board of Directors of the Company declared a special cash dividend of $0.20 per share of the Company’s common stock. The special dividend will be payable to stockholders of record as of January 15, 2014, and will be paid on or about January 30, 2014. A press release announcing the special cash dividend is filed as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01

Financial Statements and Exhibits

 

(a)          Financial Statements of businesses acquired. Not Applicable.

(b)          Pro forma financial information. Not Applicable.

(c)          Shell company transactions. None.

(d)          Exhibits.

99.1     Press release dated January 2, 2014

 

 
 
 

 

SIGNATURES

 

 

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 hereunto duly authorized.

 

   

HARVARD ILLINOIS BANCORP, INC.

 

 

DATE: January 2, 2014

By:

/s/ Duffield J. Seyller III

   

Duffield J. Seyller III

   

President and Chief Executive Officer

   

(Duly Authorized Representative)

 

 

 

 

 

 EX-99 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm

Exhibit 99.1

 

Press Release                

FOR IMMEDIATE RELEASE

 

 

Contact: Duffield J. Seyller 

 

III, President

 

Telephone: 815-943-8601

                                                                                                            

HARVARD ILLINOIS BANCORP, INC.

ANNOUNCES SPECIAL CASH DIVIDEND

 

January 2, 2014 Harvard Illinois Bancorp, Inc. (OTCBB: HARI) (the “Company) today announced that its Board of Directors declared special cash dividend of $0.20 per common share. The special dividend will be paid on or about January 30, 2014, to stockholders of record as of the close of business on January 15, 2014. This is the second cash dividend for the Company since the completion of its initial public offering in April 2010.

 

“We are pleased to be paying another cash dividend to our shareholders,” said Duffield J. Seyller III, President and Chief Executive Officer of the Company. “This payment of dividends represents our long-term commitment to enhancing shareholder value, and is a 100% increase over the first special dividend paid in February 2013.”

 

Founded in 1934, Harvard Savings Bank is an Illinois-chartered savings bank that conducts business from its offices in Harvard, Illinois and Morris, Illinois.  As a community-oriented savings and loan company, Harvard offers a variety of deposit and loan products to individuals and small businesses, primarily those located in McHenry and Grundy Counties, and, to a lesser extent, Boone County, Illinois and Walworth County, Wisconsin. Investors may obtain additional information about Harvard Illinois Bancorp, Inc. and Harvard Savings Bank on the internet at www.harvardsavingsbank.com.