Foresight Adopts Stock Repurchase Plan
Rhea-AI Summary
Foresight Financial Group (OTCQX: FGFH) approved a stock repurchase program authorizing up to $5 million of common stock buybacks, effective until June 30, 2027.
The company also adopted a Rule 10b5-1 trading plan, with repurchases executed by a third-party broker and in compliance with Rule 10b-18 and other legal requirements.
AI-generated analysis. Not financial advice.
Positive
- Authorization to repurchase up to $5 million of common stock
- Program effective through June 30, 2027, providing a multi-year capital return tool
- Adoption of a Rule 10b5-1 plan enables systematic, pre-arranged repurchases
- Management highlights program as an additional source of liquidity for shareholders
Negative
- Repurchase plan does not obligate any minimum number of shares
- Program may be expanded, extended, modified, or discontinued at any time
- Actual repurchases depend on market conditions, capital needs, and other factors
WINNEBAGO, Ill., May 15, 2026 (GLOBE NEWSWIRE) -- Foresight Financial Group, Inc. (OTCQX: FGFH) announced today that the Company’s Board of Directors has approved a share repurchase program that authorizes the Company to repurchase up to
“We are pleased to be offering this program as a source of liquidity to our shareholders and believe that the repurchase of shares at the current market price will create value for our shareholders”, said Peter Morrison, the Company’s Chief Executive Officer.
In connection with the program, Foresight adopted a trading plan (the “Rule 10b5-1 Plan”) in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934 (the “Exchange Act”). Under the Rule 10b5-1 Plan, a third-party broker will have the authority to repurchase shares on the Company’s behalf, subject to certain terms and limitations. Repurchases not made pursuant to the Rule 10b5-1 Plan may be made at prices management considers to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of shares of common stock, general market conditions, the trading price of the common stock, alternative uses for capital, the Company’s financial performance and other factors. Purchases will be conducted in a manner intended to satisfy the requirements of, and in accordance with the limitations set forth in, Rule 10b-18 under the Exchange Act and other applicable legal requirements.
About Foresight Financial Group, Inc.
Foresight Financial Group, Inc. is a the largest bank holding company headquartered in Winnebago County, Illinois and is the parent company of Foresight Bank, which operates in Northern Illinois under its divisional names Northwest Bank of Rockford, State Bank in Freeport, State Bank of Davis, German American State Bank in German Valley, Winnebago and Pecatonica, Lena State Bank, and the State Bank of Herscher. Foresight’s common stock is traded on the “OTCQX” market under the trading symbol FGFH.
Forward-Looking Statements
When used in this communication, the words "believes," "expects," "likely", "would", and similar expressions are intended to identify forward-looking statements. The Company's actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company's markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of "critical accounting policies"; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.
| FOR INFORMATION CONTACT: | |
| Peter Morrison | Todd James |
| Chief Executive Officer | Chief Financial Officer |
| (815) 847-7500 | (815) 847-7500 |
