State Bank of Davis

What State Bank of Davis does

State Bank of Davis is a community bank founded in 1928 and headquartered in a single branch at 100 Route 75, Davis, Illinois. As of May 1, 2025, it operates as a division of Foresight Bank, the consolidated entity formed from six community banks under Foresight Financial Group, Inc. (OTCQX: FGFH), which reported $1.63 billion in total assets as of December 31, 2024. The bank serves local households, small businesses, and farm operators in the Davis and broader Rockford, Illinois area, and employs 11–50 staff across named front-line and leadership roles.

Its product set spans the full retail and commercial banking stack: consumer deposit products (checking, savings, money market, certificates of deposit), consumer and mortgage lending, commercial lending, and dedicated agribusiness lending delivered through partnerships with the FSA (as a Preferred Lender) and the Illinois Ag Invest program. Card and merchant services are delivered via Elan Financial Services credit cards, instant-issue debit cards, and Clover-based merchant card processing. Digital delivery runs on the Apiture digital banking platform, with fraud protection provided by the rules-based Defense Edge service.

The bank's revenue mechanics are those of a traditional community bank: net interest income from the lending-to-deposit spread, fee income from deposit accounts and treasury/cash-management services, interchange and card fees, and merchant processing residuals. Distribution is relationship-led through the single Davis branch and the broader Foresight Financial Group network post-consolidation, with digital and mobile channels layered on top. There is no separately disclosed revenue, net income, deposit, or loan figure for the State Bank of Davis entity, and all material operating scale is reported only at the Foresight Financial Group level.

Name

State Bank of Davis

Legal name

State Bank of Davis

Website

https://statebankofdavis.com

Company type

Private

Founded year

1928

Operating status

Operating

Headcount range

11–50 employees

Short description

State Bank of Davis is a community bank founded in 1928 in Davis, Illinois, offering personal, business, and agribusiness deposit and lending products. As of May 1, 2025, it operates as a division of Foresight Bank under Foresight Financial Group, Inc.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking
• Personal banking
• Business banking
• Commercial lending
• Agribusiness loans

Headquarters

HQ city

Davis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Primary revenue from interest earned on loans (consumer, mortgage, commercial, agricultural) and securities. Spread between interest paid on deposits and interest earned on lending portfolios.
2. Non-Interest Income - Deposit Account Fees: Monthly maintenance fees on accounts that fall below minimum balance requirements, paper statement fees, excess transaction fees, and overdraft/NSF fees.
3. Business Deposit Account Fees: Monthly maintenance fees for business checking, savings, and money market accounts; excess transaction fees (e.g., $0.50 per item over 350 free monthly debit items)
4. Credit Card Interchange: Revenue from credit card transactions processed through Elan Financial Services partnership. Cards are issued by Elan Financial Services under Visa/Mastercard licenses.
5. Merchant Card Processing: Fees charged to business customers for processing credit/debit card payments

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

State Bank of Davis is a community bank offering personal and business deposit accounts (checking, savings, money market, CDs, IRAs), a full suite of lending products (consumer, mortgage, commercial, agribusiness), and digital banking services (online and mobile via the Apiture platform). It serves individual consumers, small-to-mid-size businesses, and agricultural operations through a single branch in Davis, Illinois, augmented by online, mobile, and phone channels. As of May 1, 2025, it operates as a division of Foresight Bank under Foresight Financial Group, Inc.

Product overview

State Bank of Davis operates as a community bank offering a comprehensive suite of banking and lending products through both digital and physical channels. The core product portfolio centers on the Foresight Digital Banking platform (delivered via Apiture) for online and mobile banking, supported by personal and business deposit accounts (Foresight Checking, Savings, Money Market, CDs, IRAs) and diversified lending products (Consumer, Home, Commercial, and Agribusiness Loans). Value-added services include Merchant Card Processing, Remote Deposit, Business Online Banking with cash management, Debit and Credit Cards (via Elan Financial Services), mobile wallet integration (Apple Pay/Google Pay), and the Foresight Prestige Plus Club loyalty program for customers 50+. The bank also provides ancillary tools including a Switch Kit for account transitions and 16 financial planning calculators. As of May 2025, State Bank of Davis became a division of Foresight Bank, part of Foresight Financial Group ($1.63B assets).

Differentiator

Problem solved

Functional benefit

Products and services

• Foresight Mobile Banking App Mobile banking application for Apple iOS and Android that enables customers to manage accounts, deposit checks, pay bills, transfer funds, and access via smartwatch. Powered by the Apiture platform.
• Personal Checking Accounts Personal checking account products including Foresight Classic Checking, Foresight ProtectChecking, Foresight InterestChecking, Foresight Health (HSA), Foresight Prestige, and Foresight Prestige Protect for individual consumers.
• Savings & Money Market Accounts Savings products including Foresight Savings, Foresight Classic Money Market, and Foresight Premier Money Market with tiered interest rates for individual consumers.
• Certificates of Deposit (CDs) & IRAs Time deposit accounts including Certificates of Deposit with various terms, Traditional IRA, and Roth IRA retirement accounts with tax-advantaged savings options for individual consumers.
• Business Deposit Accounts Business checking and savings accounts including Foresight Business Checking, Foresight Commercial Checking, Foresight Analysis Checking, Foresight Business Savings, and Foresight Commercial Money Market for small to mid-size businesses.
• Home Loans & Mortgages Residential mortgage products including Conventional Loans (Fixed or Adjustable Rate), Construction Loans, and Government Loan Programs (IHDA, Down Payment Plus) for individual consumers and homebuyers.
• Consumer Loans Personal lending products including Vehicle Loans, HELOC, Home Equity Term Loans, Personal Loans, CD Secured Loans, Unsecured Line of Credit, Term Loans, Lot Loans, and Bridge Loans for individual consumers.
• Commercial Loans Business lending including Lines of Credit, Term Loans, Real Estate Loans, SBA 7(a) and SBA 504 programs, Advantage Illinois, plus equipment and municipal leasing through Bankers' Bank partnership for businesses.
• Agribusiness Loans Agricultural lending products including Ag Real Estate Loans, Ag Operating Lines of Credit, Equipment Loans, Livestock Loans, Grain Inventory Loans, Illinois Ag Invest Program Loans, Beginning Farmer Loans, and FSA Guaranteed Loans for farm operations.
• Foresight Prestige Plus Club Exclusive membership program for customers age 50+ with $25,000+ deposit relationship, offering free checks, ATM surcharge refunds, 50% off safe deposit boxes, group travel, and educational seminars.

Quantifiable outcome

• ATM surcharge refunds up to $20 per statement cycle on select accounts
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Elan Financial ServicescoreTechnology or IntegrationProvides credit cards and zero fraud liability protection for unauthorized transactions. Cards issued pursuant to separate licenses from Visa U.S.A. Inc. and Mastercard International Incorporated. Provides 24/7 cardmember service.
• Illinois Treasurer's OfficeminorStrategic or Co-development PartnerPartnership through the Illinois Ag Invest Program offering below-market fixed-rate loans for equipment purchases, lines of credit, land purchases, and construction costs.
• Farm Service Agency (FSA)minorStrategic or Co-development PartnerPartnership for Beginning Farmer Loans designed to help new farmers overcome entry barriers, and FSA Guaranteed Loans for all producers to access favorable terms including long-term fixed rates.
• SBA (Small Business Administration)minorStrategic or Co-development PartnerAccess to SBA 7(a) and SBA 504 loan programs for business financing, providing long-term fixed rates and favorable loan structures for small businesses.
• Advantage IllinoisminorStrategic or Co-development PartnerState-specific financing program accessed through the bank for specialized regional financing needs.
• Illinois Housing Development Authority (IHDA)minorStrategic or Co-development PartnerGovernment loan program partnership offering Down Payment Plus (DPP) and other grant programs to help make homeownership more accessible with down payment or closing cost support.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Midland States Bank: Illinois-headquartered community bank serving consumers, businesses, and municipalities with deposit, lending, and treasury management products. Direct overlap in SME and municipal banking, comparable customer segments to State Bank of Davis.
• First Busey Corporation: Illinois-headquartered community banking group with full commercial, agribusiness, and consumer banking capabilities across the state. Overlaps directly with State Bank of Davis in ag lending, SME banking, and consumer deposits in overlapping Illinois geographies.
• Byline Bank: Chicago-based community bank serving small businesses, middle-market commercial borrowers, and consumers in Illinois and Wisconsin with comparable deposit, lending, and treasury management products. Direct competitor for community bank deposit and loan share in northern Illinois.
• Foresight Bank (other divisions: State Bank Freeport, State Bank of Herscher, etc.): The other five community bank divisions consolidated into Foresight Bank alongside State Bank of Davis on May 1, 2025 (German American State Bank, Northwest Bank of Rockford, State Bank Freeport, Lena State Bank, State Bank of Herscher). They share the same charter, products, and Apiture platform and serve adjacent Illinois geographies - the closest possible peers.

Broad incumbents

• Wintrust Financial Corporation: Chicago-based community banking group with multiple community bank charters across Illinois and Wisconsin, offering personal, business, and specialty lending products. Larger scale; competes for community banking customers and SME/lender relationships across northern Illinois.
• BMO Harris Bank: Major commercial and retail bank with deep Illinois presence including former Harris Bank footprint. Competes for consumer deposits, mortgages, and commercial/ag lending relationships across northern Illinois with significantly greater resources.
• Old National Bank: Large Midwest regional bank formed in part through community bank consolidation (including First Midwest), serving Illinois with full commercial, agribusiness, and consumer banking services. Larger, broader portfolio; competes on commercial and ag lending in the Rockford region.
• Heartland Financial USA (HTLF / Veritex Community Bank): Multi-state community banking organization with significant Illinois presence offering commercial, ag, and consumer banking products. Overlaps with State Bank of Davis on ag lending and SME banking but at materially larger scale.

Regional players

• Blackhawk Bank: Community bank headquartered in northern Illinois (Beloit/Rockford area) offering personal, business, and ag lending products. Highly comparable customer profile and regional overlap with State Bank of Davis.
• Illinois State Bank: Community bank serving the Illinois market with personal and business banking products comparable to State Bank of Davis. Competes for the same Illinois retail and small-business deposit base within its footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/StateBankofDavis
• LinkedInlinkedin.com/company/state-bank-of-davis

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about State Bank of Davis