Foresight to buy Herscher bank

Foresight Financial Group, Inc., Rockford, Ill., has agreed to buy the State Bank of Herscher, Ill..The State Bank of Herscher had assets of $135 million, loans of $80 million and deposits of $127 million as of December 31. In addition to its main office in Herscher, the bank has one branch office in Kankakee, Ill.."This acquisition provides us with a unique opportunity for market diversification by allowing us to expand our operations in Kankakee County," said Brent Myers, Foresight president and CEO. "We plan to maintain the separate charter and identity of the State Bank of Herscher, while expanding the product line currently offered to the bank's customers.".The transaction has been approved by the shareholders of Hershare Financial Corporation, State Bank of Herscher's holding company..The $923 million Foresight owns five banks with 12 branches in northwest Illinois.