On February 21, 2018, Jeffrey Thorp announced that he has entered into standstill agreement with MB Bancorp and that effective as of March 27, 2018, the Board will be expanded by 1 seat and Jeffrey Thorp will be appointed a director of the Company to serve in the class of directors with terms expiring at the Company's 2018 annual meeting of stockholders and will be nominated at such meeting to serve until the 2019 annual meeting of stockholders or, in each case, until his successor, if any, is elected and qualified.