Foresight Financial Group Finalizes Legal Consolidation, Unifies Community Banks as Foresight Bank

WINNEBAGO, Ill., May 01, 2025 (GLOBE NEWSWIRE) -- Foresight Financial Group is proud to announce the successful legal consolidation of its six community banks—German American State Bank, Northwest Bank of Rockford, State Bank of Freeport, Lena State Bank, State Bank of Davis, and State Bank of Herscher—into a single charter under the new name Foresight Bank. Each location will continue to operate under its familiar name, now proudly as a division of Foresight Bank. This unification marks an important milestone in strengthening the organization’s ability to deliver streamlined services, greater operational efficiency, and enhanced tools across all markets.

“Bringing our six banks together under one charter as Foresight Bank allows us to better serve our customers and communities,” said Peter Q. Morrison, CEO of Foresight Bank. “This unification strengthens our ability to provide consistent tools, expanded access, and the local service our customers rely on—while positioning us to grow together in meaningful, lasting ways.”

This consolidation builds on a long-standing legacy of shared values, local decision-making, and deep community relationships. With a unified structure, Foresight Bank brings together the strength and scale of a $1.6 billion total asset institution—while remaining the only locally headquartered and managed bank in Winnebago County. Customers will continue to receive the same trusted service from their local teams, with even more to come—including the ability to bank at any of our 12 Foresight Bank branches beginning this fall, following scheduled system updates in August and October. This change positions the organization to better support individuals, businesses, and communities—today and into the future.

About Foresight Financial Group, Inc.

Foresight Financial Group, Inc. is a locally owned bank holding company headquartered in Winnebago County, Illinois, with total assets of $1.63 billion as of December 31, 2024. Foresight Financial is the parent company of Foresight Bank, which was formed through the legal consolidation of six long-standing community banks: German American State Bank, Northwest Bank of Rockford, State Bank of Freeport, Lena State Bank, State Bank of Davis, and State Bank of Herscher.

Each location continues to serve its community under its familiar name as a division of Foresight Bank—delivering local service backed by the strength and resources of a unified organization. Foresight Financial Group’s common stock is traded on the OTCQX Marketplace under the symbol “FGFH.”

Contact:

Foresight Financial Group, Inc.

809 Cannell-Puri Ct., Suite #5

P.O. Box 339

Winnebago, IL 61088

Office: 815-847-7500