Tri-County Financial Group Business Summary

Tri-County Financial Group, Inc. (TYFG) operates as the bank holding company for First State Bank, generating revenue primarily through net interest income derived from its Commercial Banking and Mortgage Banking segments, supplemented by fee-based insurance and brokerage services. The Commercial Banking segment provides a comprehensive suite of loan and deposit products—including specialized agricultural, commercial, and real estate lending—to individuals and businesses across North Central Illinois and Southern Wisconsin. TYFG competes directly with regional financial institutions such as Magyar Bancorp, First Keystone, and Dimeco, distinguishing itself through a high-touch community banking model and a significant regional footprint of 19 branch locations. The leadership team is led by President and CEO Kirk L. Ross, a 30-year veteran of the institution with a background in commercial lending who succeeded long-time executive Timothy J. McConville in late 2025. Key management includes CFO and Cashier Lana J. Eddy and Chief Marketing Officer Jan Phalen, while the board is chaired by Thomas Prescott and includes notable institutional backing from Siena Capital Partners. Originally organized as First State Bank in 1940 by a group of local professionals including C.O. Harris and J.P. Gallagher, the modern holding company was established in 1987 to consolidate its regional banking, mortgage, and insurance operations.