Tri-County Financial Group, Inc.

Tri-County Financial Group, Inc. is a bank holding company incorporated in Delaware in 1986. The company primarily operates through its wholly owned subsidiary, First State Bank, which was founded in 1940. As of December 31, 2025, the company had approximately $1.6 billion in consolidated total assets. Both the company and the bank are headquartered in Mendota, Illinois. First State Bank provides comprehensive banking services, initially operating from its Mendota headquarters. In the 1980s and 1990s, the bank expanded to nearby communities, opening facilities in LaMoille, Peru, Streator, Ottawa, and McNabb. In the early 2000s, it established First State Insurance, a full-service insurance agency. In 2007, the bank developed a full-service mortgage lending operation, now known as First State Mortgage. Through acquisitions of smaller banks, the bank grew to over $1.0 billion in assets. Currently, First State Bank operates 19 branch offices across 18 communities, primarily located in north central Illinois. The bank focuses on originating and servicing three main categories of loans: commercial loans (including commercial and industrial loans), real estate loans (including commercial real estate, agricultural real estate, and one-to-four family residential mortgage loans), and agricultural loans (including agricultural operating loans). Its primary funding sources are demand, savings (including money market), and time deposits, supplemented by securities sold under agreement to repurchase and borrowings from the Federal Home Loan Bank of Chicago. The company's operations are mainly driven by net interest income, and to a lesser extent, by other income from sales of one-to-four family residential mortgage loans, loan servicing, trust and insurance services, and customer deposit services. Significant non-interest expenses include salaries and employee benefits, data processing, occupancy and equipment expense, professional services, and deposit and other insurance coverage.