Foresight Financial : Announces CEO Retirement and Names Interim CEO
October 13, 2022 at 10:42 pm
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NEWS RELEASE
FORESIGHT FINANCIAL GROUP, INC.
809 CANNELL PURI COURT
WINNEBAGO, IL 61088
FOR IMMEDIATE RELEASE: 10/13/2022
FOR INFORMATION:
CONTACT:
Dean Cooke
Chief Financial Officer
815-847-7500
RETIREMENT ANNOUNCEMENT AT FORESIGHT FINANCIAL
Winnebago, Ill., October 13, 2022 - Foresight Financial Group, Inc. announces retirement of President/CEO and Director.
The Board of Directors of Foresight Financial Group, Inc. has accepted the resignation of Rex Entsminger as President/CEO and Director of the Company. Mr. Entsminger has decided to retire, and therefore has resigned from his positions effective immediately. Entsminger has held these positions with the Company since April 2018.
The Board has appointed Peter Morrison as Interim President & CEO of Foresight. Pete is currently the President & CEO of State Bank in Freeport, IL, a position that he will retain, even as he assumes these additional responsibilities on an interim basis. Mr. Morrison's community banking career spans three decades and includes a wide range of experience from multiple leadership roles. He served as President of Elgin State Bank for 12 years prior to a Wintrust Financial acquisition, where throughout his tenure Mr. Morrison served as Executive Vice President, CFO, and COO for two Wintrust Charters, St. Charles Bank & Trust and Wheaton Bank & Trust. He attended Indiana University and completed the University of Wisconsin Graduate School of Banking.
"Pete has demonstrated excellent leadership since joining State Bank in 2021, and we look forward to the extension of his contributions as he assumes this interim role," states Board Chairman Bob Stenstrom.
Foresight Financial Group, Inc. (OTCQX: FGFH) is headquartered in Northwestern Illinois and has assets totaling $1.455 billion as of September 30, 2022. Foresight continues to hold the largest market share of deposits of any financial institution operating in Stephenson County, Illinois. Foresight's subsidiary banks include Northwest Bank of Rockford; State Bank, Freeport; State Bank of Davis; German-American State Bank, German Valley; Lena State Bank; and State Bank of Herscher.
Foresight Common stock is listed on the OTCQX Market under the trading symbol FGFH.
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Foresight Financial Group Inc. published this content on 13 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2022 21:41:08 UTC.
Foresight Financial Group, Inc. is a financial holding company. The Company and its wholly owned subsidiaries (Banks) provide a variety of banking services to individuals and businesses through its facilities in the Rockford, Freeport, German Valley, Davis, Lena, Winnebago, Pecatonica, Seward, Bradley, Kankakee, Loves Park, Machesney Park, Belvidere, and Herscher, Illinois areas. The Companyâs subsidiaries include German American State Bank located in German Valley, Pecatonica, and Winnebago; State Bank of Davis located in Davis and Kankakee; State Bank located in Freeport; Lena State Bank located in Lena; Northwest Bank located in Rockford, Loves Park and Machesney Park; and State Bank of Herscher located in Herscher and Kankakee. The Banks primary deposit products are demand deposits and certificates of deposit and its primary lending products are agriculture, agribusiness, commercial, real estate, and installment loans.