HARVARD, Ill., April 4, 2017 /PRNewswire/ — Harvard Illinois Bancorp, Inc. (the “Company”) announced today its audited statement of net assets in liquidation, as of December 31, 2016, and its change in basis of accounting, effective as of November 3, 2016. The change in basis of accounting requires the Company to record certain estimated costs which have not yet been incurred or previously reported.
Change in Basis of Accounting. The stockholders of the Company approved a plan of dissolution and complete liquidation at the Company’s annual meeting on November 2, 2016. As a result, the Company will now utilize the “liquidation” basis of accounting for the period subsequent to November 2, 2016. As a result of the Company’s change to …
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