Tri-County Financial Group, Inc. (OTCPK:TYFG) signed a definitive agreement to acquire H. F. Gehant Bancorp, Inc. on November 1, 2019. As part of the definitive agreement banking subsidiaries, H.F. Gehant Banking Co. and First State Bank will be merged and after such merger will operate under the First State Bank name. The transaction is subject to receiving regulatory and shareholder approval by the shareholders of H.F. Gehant Bancorp, Inc., and satisfying certain other closing contingencies set forth in the definitive agreement. On December 11, 2919, the transaction was approved by Illinois Department of Financial and Professional Regulation. It is anticipated that the consolidation will be completed in either the first or early second quarter of 2020. Raymond James & Associates, Inc. and Howard & Howard Attorneys PLLC acted as financial advisor and legal advisor to Tri-County Financial Group. Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as legal advisor to H. F. Gehant Bancorp. Tri-County Financial Group, Inc. (OTCPK:TYFG) completed the acquisition of H. F. Gehant Bancorp, Inc. on March 21, 2020.