On August 2, 2018, Elkhorn Partners Limited Partnership announced that it intends to nominate 2 or 3 individuals for election to the board of directors of Equitable Financial Corp. at the Company’s next annual meeting of stockholders. Elkhorn Partners stated that it intends to nominate Wayne Cadwallader and Sean T. Mullen pursuant to the form of notice. Elkhorn Partners stated that it might further revise the notice to add an additional nominee, prior to its submission of the notice to the Company within the requirements of the Company's nominating procedure. Elkhorn Partners also stated that it intends to add individuals to the board that would seek to enhance stockholder value.