On April 4, 2014, the Company mailed the following letter to its shareholders:
April 4, 2014
The Nominees of your current Board ARE … the BEST choice!
Dear Stockholders:
We, the undersigned current Directors of Harvard Illinois Bancorp, Inc., are asking for your support in this Annual Meeting election.
In our opinion, we believe our nominees deserve your vote in recognition of our Board’s (and Company’s) recent accomplishments.
Specifically, in the last year alone:
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we decreased our non-performing loans by 44.7% from 4.3% of total loans on December 31, 2012 to 2.3% of total loans on December 31, 2013, |
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our Memorandum of Understanding (with the Federal Reserve Board) was terminated in 2013 in recognition of our compliance with the provisions therein and our improved financial condition, |
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we doubled our special dividend, paying $0.20 per share in 2014 compared to $0.10 per share in 2013, and |
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our stock delivered a total return to shareholders of 23% in 2013 and, as of March 31, 2014, has delivered over a 73% total return to shareholders since our initial public offering in 2010. |
These facts reflect the hard work that your current Board has invested in your community financial institution.
Please allow us to continue this good work by signing, dating and returning the enclosed “WHITE” proxy today voting “FOR” our two director nominees as well as the other agenda items. You may also cast your vote via the internet or telephone if you so choose.
Please discard any “green” proxy that you receive from Mr. Joseph Stilwell or The Stilwell Group.
We thank you for your past and continued support.
Sincerely,
Harvard Illinois Bancorp, Inc.
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/s/ Duffield J. Seyller III |
/s/ Donn L. Claussen |
/s/ Michael P. Feeney |
/s/ Steven D. Garrels |
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Duffield J. Seyller III |
Donn L. Claussen |
Michael P. Feeney |
Steven D. Garrels |
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Chairman of the Board |
President and |
Director |
Director |
Chief Executive Officer |
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/s/ John W. Rebhorn |
/s/ William D. Schack |
/s/ Richard L. Walker |
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John W. Rebhorn |
William D. Schack |
Richard L. Walker |
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Director |
Director |
Director |