We have audited the consolidated financial statements (the financial statements'') of Foresight Financial Group, Inc. and Subsidiaries (the "Company"), which comprise the consolidated balance sheets as of December 31, 2022 and 2021, and the related consolidated statements of income, comprehensive income, changes in stockholders' equity, and cash flows for each of the years in the three-year period ended December 31, 2022, and the related notes to the financial statements.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of Foresight Financial Group, Inc. and Subsidiaries as of December 31, 2022 and 2021, and the results of its operations and their cash flows for each of the years in the three-year period ended December 31, 2022, in accordance with accounting principles generally accepted in the United States of America (''GAAP'').
We conducted our audits in accordance with auditing standards generally accepted in the United States of America ("GAAS"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Foresight Financial Group, Inc. and Subsidiaries and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Foresight Financial Group, Inc. and Subsidiaries' ability to continue as a going concern for one year after the date the financial statements are available to be issued.
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Foresight Financial Group Inc. published this content on 31 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2023 13:08:31 UTC.
Foresight Financial Group, Inc. is a financial holding company. The Company and its wholly owned subsidiaries (Banks) provide a variety of banking services to individuals and businesses through its facilities in the Rockford, Freeport, German Valley, Davis, Lena, Winnebago, Pecatonica, Seward, Bradley, Kankakee, Loves Park, Machesney Park, Belvidere, and Herscher, Illinois areas. The Companyâs subsidiaries include German American State Bank located in German Valley, Pecatonica, and Winnebago; State Bank of Davis located in Davis and Kankakee; State Bank located in Freeport; Lena State Bank located in Lena; Northwest Bank located in Rockford, Loves Park and Machesney Park; and State Bank of Herscher located in Herscher and Kankakee. The Banks primary deposit products are demand deposits and certificates of deposit and its primary lending products are agriculture, agribusiness, commercial, real estate, and installment loans.
FORESIGHT FINANCIAL GROUP, INC. 
