0000900440-15-000128.txt : 20151202 0000900440-15-000128.hdr.sgml : 20151202 20151202100616 ACCESSION NUMBER: 0000900440-15-000128 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20151202 DATE AS OF CHANGE: 20151202 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Equitable Financial Corp. CENTRAL INDEX KEY: 0001635626 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-89196 FILM NUMBER: 151263725 BUSINESS ADDRESS: STREET 1: 113 N. LOCUST ST. CITY: GRAND ISLAND STATE: NE ZIP: 68801 BUSINESS PHONE: 308-382-3136 MAIL ADDRESS: STREET 1: 113 N. LOCUST ST. CITY: GRAND ISLAND STATE: NE ZIP: 68801 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ELKHORN PARTNERS LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000928400 IRS NUMBER: 000000000 STATE OF INCORPORATION: NE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ELKHORN PARTNERS LIMITED PARTNERSHIP STREET 2: 2222 SKYLINE DRIVE CITY: ELKHORN STATE: NE ZIP: 68022 BUSINESS PHONE: 4022893217 MAIL ADDRESS: STREET 1: ELKHORN PARTNERS LIMITED PARTNERSHIP STREET 2: 2222 SKYLINE DRIVE CITY: ELKHORN STATE: NE ZIP: 68022 SC 13D 1 elkhorn13d_equitable12215.htm elkhorn13d_equitable12215.htm





UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D
Under the Securities Exchange Act of 1934


EQUITABLE FINANCIAL CORP.
(Name of Issuer)


COMMON STOCK
(Title of Class of Securities)


29448T105
(CUSIP Number)


Alan S. Parsow
with a copy to
David L. Hefflinger
Elkhorn Partners Limited Partnership
  
Jason D. Benson
2222 Skyline Drive
  
McGrath North Mullin
Elkhorn, NE 68022
  
& Kratz, PC LLO
(402) 289-3217
  
Suite 3700 First National Tower
   
Omaha, NE 68102
   
(402) 341-3070

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

November 30, 2015
(Date of Event which Required Filing of this Statement)



If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box [ ].

The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 
 
 

CUSIP NO. 29448T105
13D
Page 2 of 4 Pages

1.  
Name of Reporting Person

Elkhorn Partners Limited Partnership

2.  
Check the Appropriate Box if a Member of a Group

/X/
(a)
/ /
(b)

3.  
SEC Use Only

4.  
Source of Funds

WC

5.  
Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

/ /

6.  
Citizenship or Place of Organization

Nebraska

 
7. Sole Voting Power
   
 
253,700 Shares
Number of
  
Shares
8. Shared Voting Power
Beneficially
  
Owned by
0
Reporting
  
Person
9. Sole Dispositive Power
With
  
 
253,700 Shares
   
 
10. Shared Dispositive Power
   
 
0

11.  
Aggregate Amount Beneficially Owned by Each Reporting Person

253,700 Shares

12.  
Check Box if Aggregate Amount in Row 11 Excludes Certain
Shares

/ /

13.  
Percent of Class Represented by Amount in Row 11

Approximately 7.3% of voting securities

14.  
Type of Reporting Person

PN

 
 
 


CUSIP NO. 29448T105
13D
Page 3 of 4 Pages

ITEM 1.  SECURITY AND ISSUER.

The securities to which this Schedule 13D relates are shares of common stock of Equitable Financial Corp. (“Equitable”), whose principal executive offices are located at 113 N. Locust Street, Grand Island, NE 68801.  Elkhorn Partners Limited Partnership (the “Partnership”) is the entity making this filing.

ITEM 2.  IDENTITY AND BACKGROUND.

(a)-(c), (f)  This Schedule 13D is being filed by the Partnership. The sole general partner of the Partnership is Parsow Management LLC (the “General Partner”).  Alan S. Parsow is the sole manager of the General Partner.  The business of the Partnership consists of the buying and selling, for the account of the Partnership, of stocks, bonds and other securities, commodities, property and investments.  The address of the Partnership, the General Partner and Mr. Parsow is 2222 Skyline Drive, Elkhorn, Nebraska 68022.  The Partnership is a Nebraska limited partnership, the General Partner is a Nebraska limited liability company and Mr. Parsow is a United States citizen.

(d)-(e)  Neither the Partnership, the General Partner nor Mr. Parsow has during the last five years been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation of such law.

ITEM 3.  SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

The Partnership has acquired the Equitable common stock through open market purchases and privately-negotiated transactions. The purchase price was obtained from the Partnership’s working capital.

ITEM 4.  PURPOSE OF THE TRANSACTION.

The Partnership has acquired the Equitable common stock as an investment. The Partnership intends to review on a continuing basis its investment in the Equitable common stock, Equitable’s business affairs and financial condition, as well as conditions in the securities markets and general economic and industry conditions. The Partnership may purchase additional Equitable common stock either in the open market, in privately-negotiated transactions, or otherwise. Additionally, the Partnership may dispose of the Equitable common stock it presently owns or hereafter acquires either in the open market, in privately negotiated transactions, or otherwise.

In addition, the Partnership reserves the right to take such other action in respect of its investment in the Equitable common stock as it may deem appropriate in light of the circumstances existing from time to time, including, without limitation, seeking representation on the board of directors of Equitable or taking other steps with management designed to enhance shareholder value.

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER.

(a)(b)  As of November 30, 2015, the Partnership owns 253,700 shares of Equitable common stock.  The Equitable Form 10-Q for the quarter ended September 30, 2015 reported that there were outstanding 3,477,328 shares of Equitable common stock as of November 12, 2015.  Based on this number, the Partnership owns approximately 7.3% of the Equitable common stock.

(c)  During the past 60 days, the Partnership purchased 37,805 shares of Equitable common stock, in open market transactions and privately-negotiated transactions, at prices ranging from $8.00 to $8.20 per share.

 
 
 


CUSIP NO. 29448T105
13D
Page 4 of 4 Pages

 
ITEM 6.  CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER.

Neither the Partnership, the General Partner nor Mr. Parsow has any contract, arrangement, understanding or relationship with any other person with respect to any securities of Equitable including the transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

ITEM 7.  MATERIAL TO BE FILED AS EXHIBITS.

Not Applicable.



SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct.

DATED:  December 2, 2015


Elkhorn Partners Limited Partnership

By:  Parsow Management LLC, General Partner

By:    /s/ Alan S. Parsow                                                                                      
Alan S. Parsow
Sole Manager