Tri-County Financial Group Inc (OTC: TYFG) is a bank holding company that operates First State Bank, a community bank founded in 1940 and headquartered in Mendota, Illinois. The company earns revenue primarily through net interest income, the spread between interest earned on loans and interest paid on deposits. The loan portfolio, as of December 31, 2024, was concentrated in real estate loans ($1.12 billion, the largest segment), commercial loans ($150.3 million), and consumer loans ($8.6 million). Funding comes from demand, savings, money market, and time deposits. The Bank operates 19 branch offices across 18 communities in north central Illinois. Subsidiaries include First State Insurance, a full-service insurance agency, and First State Mortgage, a mortgage lending operation established in 2007. Total assets grew 3.7% in the year ended December 31, 2025, and earnings increased 31% over the same period. The Bank targets owner-operated businesses and agricultural borrowers as its core commercial lending customers.

Revenue model

Net interest income from loans (commercial, real estate, and agricultural) funded by customer deposits. Ancillary revenue from First State Insurance and First State Mortgage, which originates and sells residential mortgage loans.

Products and services

Commercial and industrial loans, commercial real estate loans, agricultural real estate loans, agricultural operating loans, one-to-four family residential mortgage loans, construction and land loans, consumer loans, deposit accounts (demand, savings, money market, time deposits), full-service insurance (First State Insurance), mortgage origination and servicing (First State Mortgage).

Customers and end markets

Owner-operated businesses in service, retail, wholesale, and light manufacturing; agricultural borrowers; residential mortgage borrowers; consumers in north central Illinois communities.

Value-chain role

Community bank originating and holding loans on balance sheet; mortgage banking subsidiary sells loans held for sale; insurance agency distributes third-party products locally.

Geographic exposure

19 branch offices across 18 communities in north central Illinois, including Mendota, LaMoille, Peru, Streator, Ottawa, and McNabb (as of 10-K filed 2026-03-09).

Competitors

Large national banks, Regional banks, Local community banks, Savings and loan associations, Credit unions, Mortgage companies, Insurance companies, Finance companies, Fintech companies, Securities and brokerage companies, Money market mutual funds

Source: SEC 10-K, filed 2026-03-09

Industry: State Commercial Banks