On December 30, 2013, Duffield J. Seyller III notified the Board of Directors of Harvard Illinois Bancorp, Inc. and Harvard Savings 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.

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.