Concurrent with the completion of the offerings, shares of stock of Equitable Financial Corp., a federal corporation (OTC Pink: EQFC ) ("Old Equitable") will be exchanged for shares of New Equitable's common stock so that Old Equitable's existing stockholders will own approximately the same percentage of New Equitable's common stock as they owned of Old Equitable's common stock immediately prior to the conversion, subject to adjustment as disclosed in the prospectus. As a result, stockholders of Old Equitable will receive 1.0911 shares of New Equitable's common stock for each share of Old Equitable common stock they own immediately prior to completion of the transaction. Cash in lieu of fractional shares will be paid at a rate of $8.00 per share.