State Bank of Herscher
- Company typePrivate
- Founded1902
- HeadquartersHerscher, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
State Bank of Herscher firmographics
Firmographics- Name
- State Bank of Herscher
- Legal name
- State Bank of Herscher
- Website
- https://sbherscher.com
- Company type
- Private
- Founded year
- 1902
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Where State Bank of Herscher is headquartered
LocationHeadquarters
- HQ city
- Herscher
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
State Bank of Herscher business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income from Lending: The bank generates revenue primarily through interest income on various loan products including personal loans, mortgages, commercial loans, agricultural loans, and credit cards. Loans are offered at competitive rates with flexible terms tailored to customer needs.
- Deposit Account Fees and Services: Revenue from checking accounts, savings accounts, money market accounts, CDs, IRAs, and associated service fees including maintenance fees and ATM fees
- Transaction and Processing Fees: Fees from merchant card processing services, wire transfers, overdraft fees, and other transaction-based services
- Wealth Management and Brokerage Services: Revenue from investment management, trust services, and brokerage services through partnerships with Atlatl Advisers and Cetera Investment Services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | CD minimum opening deposit of $5,000 |
| Subscription | Monthly | Foresight NexGen Checking - No minimum balance requirement |
| Subscription | Monthly | Foresight NexGen Savings - $25 minimum balance |
| Usage-based | Pay-as-you-go | Home Equity Line of Credit (HELOC) |
| Subscription | Monthly | Vehicle Loans - 36 to 72 month terms |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
State Bank of Herscher product offering
Product offeringCore offering
State Bank of Herscher is a community bank providing personal banking, business/commercial banking, agricultural lending, residential mortgages, and wealth management services to individuals, businesses, and farms across northern Illinois. As a division of Foresight Bank, the bank combines relationship-driven local decision-making with modern digital banking tools including an online platform, mobile app, and digital wallet support.
Product overview
State Bank of Herscher offers a comprehensive suite of banking products organized into five main categories: Personal Banking (checking, savings, money market, youth accounts, personal loans, credit cards, CDs & IRAs, and Prestige Plus Club), Business Banking (deposit accounts, commercial lending, merchant services, agribusiness services, cash management/treasury services, and commercial credit cards), Mortgage Lending (fixed-rate and adjustable-rate mortgages, refinances, construction loans, lot loans, FHA and VA loans), Wealth Management (trust services, investment services through Atlatl Advisers partnership, and brokerage services through Cetera Investment Services), and Digital Banking (online banking, mobile banking app, digital wallet with Apple Pay/Google Pay, Bill Pay, My Spending budgeting tool, and financial calculators). The bank transitioned to become a division of Foresight Bank as of May 1, 2025, unifying six community banks while maintaining local leadership.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Variety of personal checking account options tailored to individual consumer financial needs, available to retail customers in northern Illinois.
- Savings Accounts Personal savings accounts designed to help individual customers grow their money safely with competitive interest rates.
- Money Market Accounts Savings accounts with competitive interest rates and flexible access to funds for individual consumers.
- NexGen Youth Accounts Youth banking for students and young adults under 25, including Foresight NexGen Checking and Foresight NexGen Savings with digital tools, eStatements, mobile deposit, and ATM surcharge refunds.
- Personal Loans Comprehensive personal lending solutions including vehicle loans, HELOC, home equity term loans, unsecured lines of credit, lot loans, and bridge loans for individual borrowers.
- Personal Credit Cards Credit card products offered through Elan Financial Services with Visa and Mastercard options, featuring zero fraud liability, mobile purchasing capability, and 24/7 cardmember service.
- CDs and IRAs Certificate of Deposit accounts and Individual Retirement Accounts including Traditional IRA, Roth IRA, SEP Account, Simple IRA, and CESA Plans for education savings. FDIC insured up to applicable limits.
- Business Lending Commercial lending solutions including term loans, lines of credit, letters of credit, equipment loans, and commercial real estate loans with local decision-making for business clients.
- Business Deposit Accounts Business checking and deposit accounts designed for commercial customers of various sizes with features tailored to business operations.
- Merchant Services Merchant card processing solutions powered through partnership with Evolv, enabling acceptance of point-of-sale transactions, contactless payments, mobile/tablet payments, online payments, and gift card and loyalty programs.
- Agribusiness Services Specialized agricultural banking services including ag term loans, operating lines of credit, ag equipment loans, ag real estate loans, livestock loans, Illinois Ag Invest Program loans, beginning farmer loans, and FSA guaranteed loans, plus Foresight Ag Checking and Ag Money Market accounts.
- Cash Management Treasury management services including online wires and ACH origination, commercial mobile deposit, remote deposit capture, sweeps and investment sweep accounts, CDARS and ICS FDIC coverage, check positive pay, and ACH positive pay for business customers.
- Commercial Credit Card Business credit card program featuring Commercial One Card and Virtual Card options with real-time control, competitive rebates, and robust online management. Issued pursuant to Visa license.
- Mortgage Loan Products Home loan solutions including fixed-rate mortgages, adjustable-rate mortgages, mortgage refinances, lot loans, construction loans, FHA loans, and VA loans with personalized service and competitive rates.
- Foresight Mobile Banking App Mobile banking application for Apple and Android devices enabling real-time account access, mobile deposit, bill pay, transfers, eStatements, smartwatch compatibility, biometric login, card controls, secure messaging, and outside account linking.
- Online Banking Platform 24/7/365 online banking access powered by Apiture for account management, fund transfers, bill pay, eStatements, account alerts, and enrollment for both personal and business accounts.
- Trust Services Wealth management trust services including living trusts, investment management agency accounts, estate settlement, irrevocable and testamentary trusts, guardianship, and custodial accounts offered through Foresight Bank Wealth Management.
- Investment Services Investment management and financial planning services through partnership with Atlatl Advisers, including asset management, alternative investments, risk management, financial planning, investment advisory, estate planning, tax planning, insurance planning, and business consulting.
- Brokerage Services Full brokerage services through Cetera Investment Services, LLC including mutual funds, stocks and bonds, brokered certificates of deposits, US Government securities, annuities, tax favored investments, and 529 College Savings Plans.
- Prestige Plus Club Premium banking club offering exclusive benefits and perks for qualifying members within the bank's personal banking segment.
Companies that use State Bank of Herscher
Customer profileSegments5 records
Ideal customer profiles5 records
State Bank of Herscher technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature4 records
State Bank of Herscher partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered flagship and core.
- Foresight Financial Group / Foresight BankflagshipState Bank of Herscher joined Foresight Financial Group in 2015 and became a division of Foresight Bank as of May 1, 2025. This partnership united six long-standing community banks under one name and charter while maintaining local leadership and personalized service. Foresight Bank is now one of the largest locally headquartered banking organizations in northern Illinois.
- Cetera Investment Services, LLCcoreCetera Investment Services, LLC provides full brokerage services to State Bank of Herscher customers. Services include mutual funds, stocks, bonds, brokered CDs, government securities, annuities, tax-favored investments, and 529 College Savings Plans. Cetera is an independent registered broker/dealer and member of FINRA and SIPC.
- Atlatl AdviserscoreAtlatl Advisers is an independent Registered Investment Adviser providing investment management and financial planning services in partnership with State Bank of Herscher. The partnership offers asset management, alternative investments, risk management, financial planning, estate planning, tax planning, insurance planning, and retirement plan services.
- EvolvcoreEvolv powers State Bank of Herscher's merchant card processing solutions. The partnership enables businesses to accept various payment forms including POS transactions, contactless payments, mobile/tablet payments, online payments, and gift/loyalty programs with streamlined payment processes and reduced fees.
- Elan Financial ServicescoreElan Financial Services provides credit card services for State Bank of Herscher personal credit cards, offering zero fraud liability protection and 24/7 cardmember service. Cards are issued pursuant to licenses from Visa U.S.A. Inc. and Mastercard International Incorporated.
- ApiturecoreApiture provides the digital banking platform powering State Bank of Herscher's online and mobile banking services. The platform enables 24/7/365 account access, bill pay, fund transfers, eStatements, and enrollment for both personal and business accounts.
- FIS GlobalcoreFIS Global provides wealth management platform access for State Bank of Herscher customers. The platform enables secure access to account information and wealth management services through login authentication.
- Visa USA Inc.coreVisa USA Inc. provides the licensing for State Bank of Herscher's commercial credit card program. The bank issues Visa-backed commercial cards with real-time control, secure virtual cards, and competitive rebates for business purchasing.
- Illinois Treasurer's OfficecoreIllinois Ag Invest Program offered through partnership with the Illinois Treasurer's Office. Provides below-market fixed-rate loans for purchasing equipment, securing lines of credit, purchasing land, and covering construction costs for agricultural operations.
- Farm Service Agency (FSA)corePartnership with local FSA officials to offer Beginning Farmer Loans and FSA Guaranteed Loans. These programs help beginning farmers overcome barriers to entry and help all producers obtain favorable terms including long-term fixed rates and favorable loan structures.
Scale indicators4 records
Recent moves8 records
Expansion highlights6 records
State Bank of Herscher competitors and assessment
Company assessmentDirect peers
- Wintrust Financial Corporation: Operates a network of community-chartered banks across Illinois, Wisconsin, and Indiana, mirroring State Bank of Herscher's multi-division community banking model under a single holding company. Highly comparable in structure, product mix, and Midwest geography.
- First Busey Corporation (Busey Bank): Illinois-headquartered community bank with comparable personal, business, agribusiness, mortgage, and wealth management offerings. Closely matches State Bank of Herscher's product breadth and Midwest footprint.
- Byline Bank: Chicago-based community bank serving small businesses and consumers with deposit, lending, and treasury services. Comparable mid-size Illinois community bank with overlapping commercial banking focus and growth orientation.
- Town & Country Financial Corporation: Illinois community bank holding company serving central Illinois with personal, business, and ag lending products. Comparable scale, geographic focus, and community banking orientation.
- Morton Community Bank: Central Illinois community bank with personal, business, agricultural, and mortgage lending products. Directly comparable in size, geographic focus, and ag lending specialization.
- Midland States Bancorp: Midwest community bank with commercial, agribusiness, mortgage, and wealth management products across Illinois and surrounding states. Comparable in business mix and regional footprint.
- German American Bank: Indiana/Kentucky community bank with personal, business, and agribusiness banking services across the Midwest. Comparable in ag lending focus and community banking model.
- First Merchants Corporation: Indiana-based community bank holding company serving the Midwest with personal, business, mortgage, and wealth services. Comparable Midwest community banking orientation and product breadth.
Broad incumbents
- Old National Bank: Large Midwest regional bank operating across Illinois, Indiana, Michigan, Wisconsin, and Minnesota (acquired First Midwest). Comparable Midwest geography but at much greater scale and broader product capabilities.
- Commerce Bank: Commerce Bancshares subsidiary operating across Missouri, Illinois, Kansas, and other Midwest states. Broader incumbent with overlapping retail and business banking products serving similar Midwest demographics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
State Bank of Herscher compliance and trust
Trust signalCompliance5 records
State Bank of Herscher financial estimates
Financial estimateRevenue estimate
Valuation estimate
State Bank of Herscher leadership team
Management profileNumber of profiles
Profiles18 records
State Bank of Herscher funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
State Bank of Herscher M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about State Bank of Herscher
What does State Bank of Herscher do?
State Bank of Herscher is a community bank providing personal banking, business/commercial banking, agricultural lending, residential mortgages, and wealth management services to individuals, businesses, and farms across northern Illinois. As a division of Foresight Bank, the bank combines relationship-driven local decision-making with modern digital banking tools including an online platform, mobile app, and digital wallet support.
Is State Bank of Herscher a public or private company?
State Bank of Herscher is a private company. It is classified as corporate owned and is currently operating.
When was State Bank of Herscher founded?
State Bank of Herscher was founded in 1902. It employs 11 to 50 people.
Where is State Bank of Herscher based?
State Bank of Herscher is headquartered in Herscher, United States, in the North America region.
How does State Bank of Herscher make money?
Four revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Account Fees and Services, transaction and Processing Fees and wealth Management and Brokerage Services.
Who are State Bank of Herscher's main competitors?
Direct peers on record are Wintrust Financial Corporation, First Busey Corporation (Busey Bank), Byline Bank, Town & Country Financial Corporation, Morton Community Bank, Midland States Bancorp, German American Bank and First Merchants Corporation. Broad incumbents are Old National Bank and Commerce Bank.
Does State Bank of Herscher have an API?
No public API is recorded for State Bank of Herscher.