First Business Financial Services (FBIZ) lists $1.12B in 192 holdings in 13F

Rhea-AI Filing Summary

First Business Financial Services, Inc. filed a Form 13F reporting 192 holdings with a total market value of $1,124,729,547. The report was signed by Doug Heding, President, Private Wealth, in MADISON, WI on 04-20-2026.

The filing is a standard 13F holdings report listing institutional positions and does not itself indicate trading intent or transaction-level details.

Key Figures

Form 13F entries: 192 positions Total market value: $1,124,729,547 Signature date: 04-20-2026

3 metrics

Form 13F entries 192 positions Form 13F Information Table Entry Total

Total market value $1,124,729,547 Form 13F Information Table Value Total

Signature date 04-20-2026 Signed by Doug Heding, President, Private Wealth

Key Terms

Form 13F, Form 13F Information Table, Institutional Investment Manager

3 terms

Form 13F regulatory

"Form 13F Summary Page --------------------- | Report Summary"

A Form 13F is a quarterly filing that large investment managers must submit to disclose their holdings in publicly traded stocks and certain other securities. It acts like a peek into the portfolios of big investors, helping other market participants see what large players are buying or selling and offering clues about investment trends, crowded trades, and potential market impact.

Form 13F Information Table regulatory

"Form 13F Information Table Entry Total: | 192"

Institutional Investment Manager financial

"Institutional Investment Manager Filing this Report Name: | First Business Financial Services, Inc."

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL

OMB Number:			3235-0006
Estimated average burden
hours per response:			23.8

Report for the Calendar Year or Quarter Ended: 03-31-2026

Check here if Amendment		Amendment Number:
This Amendment (Check only one.):		is a restatement.
		adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:	First Business Financial Services, Inc.
Address:	401 CHARMANY DRIVE
	PO BOX 44961
	MADISON, WI 53744
Form 13F File Number:	028-15585
CRD Number (if applicable):
SEC File Number (if applicable):

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name:		Doug Heding
Title:		President, Private Wealth
Phone:		608-232-5971
Signature, Place, and Date of Signing:
/s/ Doug Heding			MADISON, WI	04-20-2026
[Signature]			[City, State]	[Date]

Report Type (Check only one.):
X	13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
	13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
	13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

Form 13F Summary Page
	Report Summary:
	Number of Other Included Managers:		0
	Form 13F Information Table Entry Total:		192
	Form 13F Information Table Value Total:		1,124,729,547
			(round to nearest dollar)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

NONE

FAQ

What does First Business Financial Services (FBIZ) report in this Form 13F?

They report holdings: 192 positions totaling $1,124,729,547. This is the summary value reported on the Form 13F information page signed on 04-20-2026.

Does the Form 13F filing show individual trades for FBIZ?

No, Form 13F lists end-of-period holdings, not individual trades. The report contains 192 holdings and reflects positions as of the reporting quarter end.

Who signed the Form 13F for First Business Financial Services (FBIZ)?

The report was signed by Doug Heding, President, Private Wealth. The signature block shows MADISON, WI and the date 04-20-2026.

How many holdings and what total value are disclosed by FBIZ in this filing?

The filing discloses 192 holdings with a total market value of $1,124,729,547. These figures appear on the Form 13F summary page.

Is this Form 13F a combined report or standalone for FBIZ?

This is a standalone Form 13F holdings report for the reporting manager; the summary indicates Number of Other Included Managers: 0.