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. reports news around First Business Bank, a bank holding company whose banking subsidiary focuses on business banking. Company updates commonly cover commercial banking, Specialty Finance, Private Wealth and Bank Consulting services, with Specialty Finance delivered through First Business Specialty Finance, LLC.
Recurring announcements include quarterly earnings, conference calls and investor presentations that discuss loan and core deposit growth, net interest margin, fee income, operating efficiency, asset quality and non-performing credits. The company also reports capital-return actions, including cash dividends on common stock and its 7% Series A Preferred Stock, along with participation in banking and small-cap investor conferences.
First Business Financial Services (Nasdaq: FBIZ) reported a record net income of $9.7 million or $1.12 per diluted share for Q1 2021, up from $6.1 million in Q4 2020 and $3.3 million in Q1 2020. Revenue rose 20% year-over-year to $28.1 million. Loans grew by $46.9 million, or 10% annualized, excluding PPP loans. Non-performing assets decreased 29% to $19 million, showcasing improved asset quality. The Company's tangible book value per share increased by 11% annualized. Overall, FBIZ is positioned for sustained growth in loans and revenue.
First Business Financial Services, Inc. (Nasdaq: FBIZ) has announced a quarterly cash dividend of $0.18 per share, translating to a dividend yield of 3.9% based on a market close price of $18.60. This marks a 9% increase from the previous quarterly dividend declared in October 2020, with a payout ratio of 25.4% based on Q4 2020 earnings. The dividend is payable on February 18, 2021, to shareholders on record as of February 8, 2021. President Corey Chambas highlighted this as a reflection of the company's commitment to shareholder value and growth initiatives.
First Business Bank (Nasdaq:FBIZ) reported a record net income of $6.1 million, or $0.71 per share, for Q4 2020, up from $4.3 million in Q3 2020. Key factors included a 20.9% increase in net interest income and a 12% growth in loans, excluding PPP loans. Non-performing assets dropped 27.3% to $26.7 million, reflecting improved asset quality. The bank’s net interest margin increased to 3.69% from 3.14%. The company also initiated a $5 million share repurchase program, signaling confidence in its valuation. Overall, strong financial performance positions FBIZ for sustainable growth in 2021.
First Business Financial Services, Inc. (Nasdaq: FBIZ) has announced a new share repurchase program, authorizing the repurchase of up to $5 million of its common stock over approximately twelve months, set to end on January 31, 2022. This decision follows the suspension of a prior buyback program in March 2020 due to the pandemic. The company's management believes shares are currently undervalued, indicating confidence in its future prospects. Factors influencing repurchases include stock performance, market conditions, and legal requirements.
First Business Financial Services, Inc. (Nasdaq: FBIZ) declared a quarterly cash dividend of $0.165 per share, reflecting a dividend yield of 3.73% based on the recent market close of $17.68. This dividend maintains the same rate as in July 2020, with a dividend payout ratio of 33% based on the Q3 2020 earnings per share. Shareholders of record as of November 2, 2020, will receive the payment on November 12, 2020.
First Business Financial Services (FBIZ) reported a net income of $4.3 million, with diluted earnings per share at $0.50 for Q3 2020, marking an increase from $3.3 million or $0.38 in Q2 2020. The provision for loan losses was $3.8 million, up due to COVID-19, increasing the allowance by 12.2%. Notably, non-interest income reached a record $7.4 million, 28.5% of total revenue. Despite stable net interest income, net interest margin decreased to 3.14%. Record gross loans of $2.170 billion reflect a strong operational performance amid economic challenges.