Welcome to our dedicated page for First Business Finl Svcs W news (Ticker: FBIZ), a resource for investors and traders seeking the latest updates and insights on First Business Finl Svcs W stock.
First Business Financial Services, Inc. (FBIZ) is the bank holding company for First Business Bank, a Madison, Wisconsin-based institution focused on Business Banking. Company news releases describe core activities in Commercial Banking and Specialty Finance, along with Private Wealth and Bank Consulting services. As a Nasdaq-listed commercial banking company, FBIZ regularly issues updates on its financial performance, strategy, and capital actions.
This news page aggregates coverage of First Business Financial Services, Inc. and First Business Bank, including earnings announcements, dividend declarations, investor conference participation, and strategic initiatives. Recent Form 8-K filings reference quarterly earnings press releases, investor presentations highlighting operating performance and business strategy, and board decisions on quarterly cash dividends for both common stock and 7% Series A Preferred Stock.
Investors and analysts following FBIZ can use this feed to review net income trends, loan and deposit growth, net interest margin, fee income from areas such as Private Wealth and SBA loan sales, and commentary on credit quality and funding. News items also cover management communications such as earnings conference calls and participation in virtual investor conferences, as well as partnerships like the bank’s credit card program collaboration with CorServ.
By monitoring this page, readers gain a consolidated view of the company’s public communications about its commercial banking, specialty finance, and wealth management activities, as reported through press releases and related disclosures.
First Business Financial Services, Inc. (FBIZ) has announced significant internal promotions within its commercial banking team, effective January 3, 2023. Key appointments include Dave Seiler as President and COO, Mark Meloy as Executive VP, Jim Hartlieb as President and CEO of First Business Bank, and Josh Hoesch as President of the Greater Dane County Market. These promotions reflect the company's ongoing commitment to leadership development, aiming to enhance client service and support strategic growth. CEO Corey Chambas highlighted the importance of preserving the company's unique culture through these advancements.
First Business Financial Services, Inc. (Nasdaq: FBIZ) announced a quarterly cash dividend of $0.1975 per share, yielding 2.24% based on the last closing price of $35.29. This dividend matches the amount declared in July 2022 and represents a 16% payout ratio based on third quarter earnings. The dividend is payable on November 17, 2022 to shareholders of record by November 7, 2022. Additionally, a dividend of $17.50 per share on the Company’s 7% Series A Preferred Stock will be paid on December 15, 2022.
First Business Financial Services reported Q3 net income of $10.6 million or $1.25 per share, slightly lower than Q2 2022's $10.9 million. The company achieved a 12% increase in top line revenue due to loan and deposit growth, with a record net interest margin of 4.01%.
Non-performing assets decreased to 0.13% of total assets. The bank's tangible book value rose 7.5% annualized. Total loans increased 7.1% annualized to $2.331 billion, while deposits grew 15.6%.
First Business Financial Services, Inc. (FBIZ) has declared a quarterly cash dividend of $0.1975 per share, providing a dividend yield of 2.38% based on the closing price of $33.23. This dividend matches the amount declared in April 2022 and corresponds to a 15% dividend payout ratio based on second quarter earnings. The payment date for this dividend is set for August 18, 2022, with a record date of August 8, 2022. Additionally, a dividend of $17.50 per share will be paid on the Company’s 7% Series A Preferred Stock on September 15, 2022.
First Business Financial Services reported a strong second quarter, with net income of $11.0 million, or $1.29 per diluted share, up from $8.7 million in the same period last year. Key drivers included a 10.4% increase in net interest income to $23.7 million and a strong loan portfolio growth of $48.9 million. Non-performing assets declined to $5.7 million, representing 0.21% of total assets. The company achieved a 9.4% increase in tangible book value compared to the linked quarter, showcasing robust profitability metrics.
First Business Financial Services (Nasdaq: FBIZ) announced that Chief Financial Officer Edward G. Sloane will retire on March 31, 2023, with Chief Accounting Officer Brian D. Spielmann succeeding him. Spielmann, a veteran of 16 years with the company, has extensive experience in strategic planning and financial management. Sloane has served as CFO since 2016 and will assist in the transition until his retirement. The management emphasizes continuity and growth as Spielmann takes over to support the company's strategic initiatives.
First Business Financial Services (FBIZ) announced a quarterly cash dividend of $0.1975 per share, reflecting a 2.30% dividend yield based on a market close price of $34.33. The dividend matches the amount declared in January 2022 and represents a payout ratio of 19.4% based on first-quarter earnings. This dividend is payable on May 19, 2022 to shareholders of record as of May 9, 2022. Additionally, an initial dividend on $12.5 million of Series A Preferred Stock was declared, payable on June 15, 2022.
First Business Financial Services, Inc. (FBIZ) posted a net income of $8.7 million, or $1.02 per diluted share, for Q1 2022, marking a slight increase from Q4 2021 and a decrease from Q1 2021. The Bank experienced a significant increase in loan growth, totaling $20.9 million, representing a 3.8% annualized growth from Q4 2021, and total in-market deposits grew by $83.1 million, or 17.2% annualized. Non-performing assets fell by 12.1% to $5.7 million. The Company also completed a $32.5 million private placement aimed at supporting growth and a share repurchase plan.
The Negro Leagues Baseball Museum (NLBM) has partnered with First Business Bank to become the 'Official Bank' of the United States Mint Negro Leagues Commemorative Coins program. This initiative, part of a bipartisan effort initiated by U.S. Senators, aims to honor the history of the Negro Leagues. The program includes the production of $5 gold, $1 silver, and half dollar clad coins, potentially generating up to $6 million in revenue. First Business Bank will assist NLBM in maximizing revenue from the coin sales while participating in various museum events.
First Business Financial Services, Inc. (FBIZ) has successfully raised $32.5 million through a private placement, issuing $20 million in subordinated notes and $12.5 million in preferred stock. The proceeds will help redeem $19.4 million in higher-cost securities and support growth strategies. They issued 7.00% Fixed-to-Floating Rate Series A Preferred Stock and 3.50% Fixed-to-Floating Rate Subordinated Notes, enhancing capital positions. A $5 million share buyback was also authorized, effective March 4, 2022.