Winnebago, Ill.-based Foresight Financial Group, Inc., announced the retirement of President/CEO and Director Rex Entsminger.
Entsminger had held the three roles within the $1.45 billion, northwestern Illinois-based holding company since the spring of 2018.
The board appointed Peter Morrison, currently the president and CEO of a Foresight subsidiary, State Bank in Freeport, Ill., as the company’s interim president and CEO. Morrison is expected to retain his State Bank roles as he takes on the interim roles.
Morrison, who has spent three decades in community banking, served as president of Elgin State Bank for 12 years before it was acquired by Wintrust Financial. Morrison eventually held executive positions for two Wintrust charters. He attended Indiana University, Bloomington, and completed the University of Wisconsin Graduate School of Banking program.
“[Morrison] 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,” stated Board Chair Bob Stenstrom.
Foresight Financial has five other subsidiary banks, including Northwest Bank of Rockford; State Bank of Davis; German-American State Bank, German Valley; Lena State Bank; and State Bank of Herscher.