NASDAQ : FBIZ
First Business Financial Services, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 75.4 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 627.99M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 234.61M | 227.31M | 216.90M | 182.65M | 115.37M | 91.84M |
| Interest Income on Investments | 21.58M | 20.00M | 16.23M | 12.28M | 6.00M | 4.15M |
| Total Interest Income | 256.19M | 247.31M | 233.13M | 194.93M | 121.37M | 96.00M |
| Interest Paid on Deposits | 96.80M | 99.21M | 97.92M | 71.42M | 13.18M | 3.55M |
| Interest Paid on Borrowings | 11.89M | 11.41M | 11.00M | 10.92M | 9.77M | 7.78M |
| Total Interest Expense | 108.69M | 110.62M | 108.92M | 82.34M | 22.95M | 11.33M |
| Net Interest Income | 147.50M | 136.69M | 124.21M | 112.59M | 98.42M | 84.66M |
| Trust Income | 16.10M | 14.72M | 13.26M | 11.43M | 10.88M | 10.78M |
| Gain (Loss) on Sale of Investments | -8.00K | -45.00K | 29.00K | |||
| Gain (Loss) on Sale of Equity Investments | 1.20M | 1.20M | 1.90M | 5.10M | 3.01M | 2.50M |
| Other Non-Interest Income | 9.96M | 9.65M | 8.38M | 9.64M | 9.15M | 6.90M |
| Total Non-Interest Income | 33.23M | 31.94M | 29.25M | 31.31M | 29.43M | 28.10M |
| Revenues Before Loan Losses | 180.74M | 168.63M | 153.46M | 143.90M | 127.85M | 112.76M |
| Provision for Loan Losses | 8.82M | 8.65M | 8.83M | 8.18M | -3.87M | -5.80M |
| Revenue | 171.91M | 159.97M | 144.63M | 135.71M | 131.72M | 118.56M |
| Salaries and Employee Benefits | 69.02M | 65.07M | 60.32M | 58.08M | 55.16M | 49.20M |
| Federal Deposit Insurance | 3.22M | 3.23M | 2.76M | 2.24M | 1.04M | 1.14M |
| Selling, General & Administrative | 28.46M | 27.07M | 26.72M | 23.72M | 20.88M | 18.79M |
| Other Non-Interest Expense | 4.34M | 4.15M | 3.68M | 4.53M | 2.37M | 2.36M |
| Total Non-Interest Expense | 105.04M | 99.52M | 93.48M | 88.58M | 79.47M | 71.53M |
| EBT Excluding Unusual Items | 66.87M | 60.45M | 51.15M | 47.14M | 52.24M | 47.03M |
| Pretax Income | 66.87M | 60.45M | 51.15M | 47.14M | 52.24M | 47.03M |
| Income Tax Expense | 9.19M | 10.13M | 6.91M | 10.11M | 11.39M | 11.28M |
| Net Income | 57.69M | 50.32M | 44.24M | 37.03M | 40.86M | 35.76M |
| Preferred Dividends & Other Adjustments | 1.81M | 1.83M | 1.91M | 1.81M | 1.79M | 1.05M |
| Net Income to Common | 55.87M | 48.49M | 42.34M | 35.21M | 39.07M | 34.70M |
| Basic Shares Outstanding | 8.20M | 8.16M | 8.15M | 8.13M | 8.23M | 8.31M |
| Diluted Shares Outstanding | 8.20M | 8.16M | 8.15M | 8.13M | 8.23M | 8.31M |
| EPS (Basic) | 6.81 | 5.94 | 5.20 | 4.33 | 4.75 | 4.17 |
| EPS (Diluted) | 6.81 | 5.94 | 5.20 | 4.33 | 4.75 | 4.17 |
| Dividend Per Share | 1.31 | 1.16 | 1.00 | 0.91 | 0.79 | 0.72 |
| Effective Tax Rate | 13.74% | 16.76% | 13.50% | 21.45% | 21.79% | 23.97% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 33.68M | 31.79M | 29.90M | 32.71M | 26.18M | 10.11M |
| Investment Securities | 119.73M | 121.62M | 104.94M | 132.16M | 93.72M | 86.18M |
| Trading Asset Securities | 78.57M | 36.52M | 65.76M | 55.60M | 68.58M | 26.34M |
| Mortgage-Backed Securities | 357.91M | 374.05M | 302.26M | 224.08M | 160.23M | 154.41M |
| Total Investments | 556.22M | 532.18M | 472.97M | 411.83M | 322.53M | 266.93M |
| Gross Loans | 3.68B | 3.38B | 3.11B | 2.85B | 2.44B | 2.24B |
| Allowance for Loan Losses | -36.54M | -35.88M | -35.78M | -31.27M | -24.23M | -24.34M |
| Other Adjustments to Gross Loans | -3.10M | -2.87M | -1.87M | -1.36M | -1.45M | -2.98M |
| Net Loans | 3.64B | 3.34B | 3.08B | 2.82B | 2.42B | 2.22B |
| Property, Plant & Equipment | 8.86M | 9.99M | 10.93M | 12.75M | 12.03M | 6.60M |
| Goodwill | 10.70M | 10.70M | 10.70M | 10.70M | 10.70M | |
| Other Intangible Assets | 11.83M | 1.28M | 1.21M | 1.32M | 1.46M | |
| Loans Held for Sale | 18.85M | 13.50M | 4.59M | 2.63M | 3.57M | |
| Accrued Interest Receivable | 13.58M | 13.10M | 12.88M | 13.28M | 9.40M | 5.50M |
| Restricted Cash | 58.60M | 7.70M | 127.80M | 106.80M | 76.50M | 47.00M |
| Other Current Assets | 6.16M | 4.79M | 4.22M | 4.27M | 3.82M | 2.69M |
| Long-Term Deferred Tax Assets | 14.75M | 13.18M | 12.60M | 9.51M | 11.71M | 6.17M |
| Other Real Estate Owned & Foreclosed | 51.00K | 247.00K | 95.00K | 164.00K | ||
| Other Long-Term Assets | 97.35M | 92.03M | 67.50M | 68.82M | 62.90M | 65.06M |
| Total Assets | 4.44B | 4.08B | 3.85B | 3.51B | 2.98B | 2.65B |
| Interest Bearing Deposits | 3.22B | 2.89B | 2.60B | 2.23B | 1.55B | 1.36B |
| Institutional Deposits | 52.00M | 113.00M | 67.30M | 120.20M | 81.60M | 7.90M |
| Non-Interest Bearing Deposits | 477.87M | 378.77M | 436.11M | 445.38M | 537.11M | 589.56M |
| Total Deposits | 3.75B | 3.38B | 3.11B | 2.80B | 2.17B | 1.96B |
| Short-Term Borrowings | 63.51M | 36.93M | 57.07M | 51.95M | 61.42M | 28.78M |
| Current Portion of Leases | 409.00K | 1.62M | ||||
| Accrued Interest Payable | 8.63M | 9.42M | 10.18M | 10.86M | 4.05M | 1.01M |
| Long-Term Debt | 54.89M | 54.80M | 54.70M | 49.42M | 40.43M | 34.15M |
| Federal Home Loan Bank Debt, Long-Term | 132.50M | 197.25M | 265.35M | 281.50M | 416.38M | 368.80M |
| Long-Term Leases | 5.95M | 5.74M | 7.93M | 8.95M | 10.18M | 5.41M |
| Trust Preferred Securities | 10.08M | |||||
| Pension & Post-Retirement Benefits | 2.30M | 1.90M | ||||
| Other Long-Term Liabilities | 24.00M | 24.13M | 22.27M | 18.80M | 13.01M | 12.44M |
| Total Liabilities | 4.04B | 3.71B | 3.52B | 3.22B | 2.72B | 2.42B |
| Preferred Stock, Redeemable | 11.99M | 11.99M | 11.99M | 11.99M | 11.99M | |
| Common Stock | 97.00K | 96.00K | 95.00K | 95.00K | 94.00K | 93.00K |
| Additional Paid-In Capital | 98.85M | 96.49M | 93.55M | 90.62M | 87.51M | 85.80M |
| Retained Earnings | 340.54M | 305.54M | 265.78M | 230.73M | 203.51M | 170.02M |
| Treasury Stock | -35.32M | -32.79M | -31.40M | -30.13M | -27.16M | -22.03M |
| Comprehensive Income & Other | -11.55M | -9.74M | -11.43M | -13.72M | -15.31M | -1.46M |
| Total Common Equity | 392.61M | 359.59M | 316.60M | 277.60M | 248.65M | 232.42M |
| Shareholders' Equity | 404.60M | 371.58M | 328.59M | 289.59M | 260.64M | 232.42M |
| Total Liabilities & Equity | 4.44B | 4.08B | 3.85B | 3.51B | 2.98B | 2.65B |
| Total Debt | 257.26M | 296.34M | 385.04M | 391.82M | 528.40M | 447.22M |
| Net Cash (Debt) | -145.01M | -228.04M | -289.38M | -303.51M | -433.64M | -410.76M |
| Net Cash Per Share | -17.68 | -27.95 | -35.51 | -37.33 | -52.71 | -49.40 |
| Filing Date Shares Outstanding | 8.33M | 8.34M | 8.30M | 8.31M | 8.35M | 8.46M |
| Total Common Shares Outstanding | 8.36M | 8.33M | 8.29M | 8.31M | 8.36M | 8.46M |
| Book Value Per Share | 46.98 | 43.19 | 38.17 | 33.39 | 29.74 | 27.48 |
| Tangible Book Value | 380.78M | 347.61M | 304.69M | 265.57M | 236.49M | 221.72M |
| Tangible Book Value Per Share | 45.56 | 41.75 | 36.74 | 31.94 | 28.28 | 26.22 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 57.69M | 50.32M | 44.24M | 37.03M | 40.86M | 35.76M |
| Depreciation & Amortization | 3.85M | 3.77M | 3.74M | 3.64M | 4.07M | 3.55M |
| Gain (Loss) on Sale of Assets | 27.00K | 168.00K | 13.00K | -429.00K | 93.00K | |
| Gain (Loss) on Sale of Investments | 8.89M | 5.96M | 6.39M | 4.05M | 684.00K | |
| Provision for Credit Losses | 8.82M | 8.65M | 8.83M | 8.18M | -3.87M | -5.80M |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -4.63M | -3.47M | -6.97M | 98.00K | 3.48M | 9.17M |
| Accrued Interest Receivable | -33.32M | 20.80M | 6.24M | -21.38M | -7.73M | -6.77M |
| Other Operating Activities | -6.72M | -5.90M | -6.62M | -799.00K | -4.47M | -1.62M |
| Operating Cash Flow | 68.49M | 61.70M | 57.49M | 52.29M | 38.65M | 35.99M |
| Capital Expenditures | -638.00K | -595.00K | -223.00K | -2.88M | -3.22M | -391.00K |
| Sale of Property, Plant and Equipment | 42.00K | 30.00K | 44.00K | |||
| Investment in Securities | -20.90M | -85.69M | -63.34M | -101.22M | -40.77M | -24.30M |
| Income (Loss) Equity Investments | 1.62M | 1.57M | 3.31M | 4.92M | 721.00K | 371.00K |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -328.37M | -268.34M | -267.41M | -408.62M | -199.47M | -86.66M |
| Other Investing Activities | 6.29M | -18.75M | 2.47M | 5.87M | -1.81M | 298.00K |
| Investing Cash Flow | -343.57M | -373.38M | -328.47M | -506.85M | -245.27M | -111.01M |
| Long-Term Debt Issued | 1.05B | 1.15B | 1.58B | 2.44B | 798.30M | |
| Total Debt Issued | 1.34B | 1.05B | 1.15B | 1.58B | 2.44B | 798.30M |
| Long-Term Debt Repaid | -1.12B | -1.16B | -1.70B | -2.40B | -814.00M | |
| Total Debt Repaid | -1.42B | -1.12B | -1.16B | -1.70B | -2.40B | -814.00M |
| Net Debt Issued (Repaid) | -79.28M | -68.00M | -10.87M | -125.89M | 43.28M | -15.70M |
| Issuance of Common Stock | 136.00K | 143.00K | 144.00K | 128.00K | 134.00K | 160.00K |
| Repurchase of Common Stock | -2.55M | -1.39M | -1.27M | -2.97M | -6.13M | -5.48M |
| Preferred Stock Issued | 11.99M | |||||
| Common Dividends Paid | -11.11M | -9.69M | -8.32M | -7.58M | -6.69M | -6.17M |
| Preferred Dividends Paid | -875.00K | -875.00K | -875.00K | -875.00K | -683.00K | |
| Total Dividends Paid | -11.99M | -10.56M | -9.20M | -8.45M | -7.37M | -6.17M |
| Net Increase (Decrease) in Deposit Accounts | 416.70M | 273.27M | 310.36M | 628.57M | 210.28M | 102.41M |
| Financing Cash Flow | 323.01M | 193.47M | 289.17M | 491.38M | 252.19M | 75.22M |
| Net Cash Flow | 47.93M | -118.22M | 18.19M | 36.83M | 45.57M | 201.00K |
| Free Cash Flow | 67.85M | 61.10M | 57.27M | 49.41M | 35.42M | 35.60M |
| Free Cash Flow Margin | 39.47% | 38.20% | 39.60% | 36.41% | 26.89% | 30.03% |
| Free Cash Flow Per Share | 8.27 | 7.49 | 7.03 | 6.08 | 4.31 | 4.28 |
| Cash Interest Paid | 110.22M | 111.38M | 109.61M | 75.53M | 20.11M | 13.21M |
| Cash Income Tax Paid | 6.44M | 3.31M | 158.00K | 7.46M | 8.04M | 14.52M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 627.99M | 452.01M | 383.98M | 333.43M | 308.16M | 244.74M |
| Last Close Price | 75.40 | 53.40 | 44.48 | 37.55 | 33.25 | 25.94 |
| PE Ratio | 11.07 | 9.32 | 9.07 | 9.47 | 7.89 | 7.05 |
| PS Ratio | 3.65 | 2.83 | 2.65 | 2.46 | 2.34 | 2.06 |
| PB Ratio | 1.61 | 1.22 | 1.17 | 1.15 | 1.18 | 1.05 |
| P/FCF Ratio | 9.26 | 7.40 | 6.71 | 6.75 | 8.70 | 6.88 |
| P/OCF Ratio | 9.17 | 7.33 | 6.68 | 6.38 | 7.97 | 6.80 |
| Debt / Equity Ratio | 0.64 | 0.80 | 1.17 | 1.35 | 2.03 | 1.92 |
| Debt / FCF Ratio | 3.79 | 4.85 | 6.72 | 7.93 | 14.92 | 12.56 |
| Net Debt / Equity Ratio | 0.36 | 0.61 | 0.88 | 1.05 | 1.66 | 1.77 |
| Net Debt / FCF Ratio | 2.14 | 3.73 | 5.05 | 6.14 | 12.24 | 11.54 |
| Return on Equity (ROE) | 15.12% | 14.37% | 14.31% | 13.46% | 16.57% | 16.30% |
| Return on Assets (ROA) | 1.36% | 1.27% | 1.20% | 1.14% | 1.45% | 1.37% |
| Earnings Yield | 9.03% | 11.13% | 11.52% | 11.11% | 13.26% | 14.61% |
| FCF Yield | 10.80% | 13.52% | 14.91% | 14.82% | 11.49% | 14.55% |
| Dividend Yield | 1.80% | 2.14% | 2.16% | 2.27% | 2.14% | 2.49% |
| Payout Ratio | 19.97% | 20.99% | 20.78% | 22.83% | 18.04% | 17.24% |
| Buyback Yield / Dilution | -0.61% | -0.12% | -0.21% | 1.16% | 1.06% | 0.83% |
| Total Shareholder Return | 1.19% | 2.02% | 1.95% | 3.43% | 3.20% | 3.32% |