On April 23, 2014, Harvard Illinois Bancorp, Inc. filed a proxy statement urging the shareholders to elect its 2 director nominees, Donn L. Claussen and Brian S. Rebhorn to the Company's board at its annual meeting of shareholders scheduled to be held on May 22, 2014. In addition, the Company urged its shareholders to vote for its proposal to approve the executive compensation. Further, the Company urged its shareholders to discard any proxy card sent by Stilwell Value LLC.