First Business Financial Services, Inc. 8-K Filings

First Business Financial Services, Inc. reported strong second-quarter 2026 results, with net income available to common shareholders of $15.4 million and diluted EPS of $1.84, up from $1.44 in the prior quarter and $1.35 a year earlier. EPS included a $0.14 per-share net benefit from a deferred tax allowance release partially offset by severance costs.

Pre-tax, pre-provision earnings reached a record $19.8 million, up 15.1% from the prior quarter and 23.7% year over year, as operating revenue grew 14% and the efficiency ratio improved to 57.57%. Net interest margin widened to 3.78% on 10.0% annualized linked-quarter loan growth and stable deposit costs. Period-end loans were $3.59 billion and core deposits $2.88 billion, both up around 10–14% year over year.

Asset quality remained solid: non-performing assets were $38.1 million, or 0.86% of total assets, with the allowance for credit losses covering 1.10% of loans and 104% of non-accruals. Tangible book value per share increased to $44.38, 15.2% above a year earlier. The board declared a $0.34 quarterly common dividend, a 2.01% yield and 18% payout ratio, and the company exited out-of-footprint SBA 7(a) lending, expecting a modest EPS benefit in 2027.

First Business Financial Services, Inc. announced that its Board of Directors has expanded from eight to nine members and appointed Scott M. Ferris as a Class III director effective June 1, 2026. He will serve on the Audit Committee and Operational Risk Committee.

Ferris recently retired from BMO Financial Group after a long career leading commercial banking within its Financial Institutions Group and holding senior roles across commercial and corporate banking. The Board has determined he qualifies as an independent director under Nasdaq and Securities Exchange Act rules, and he will receive the standard compensation for non-employee directors.

First Business Financial Services, Inc. filed an amended report to correct an administrative error and refile the Employment Agreement with incoming President and Chief Executive Officer David R. Seiler. The original agreement omitted equity award language in Section 2.3, which is now fully included, with no other changes to the prior disclosure.

Effective May 3, 2026, Seiler becomes President and CEO and joins the board as a Class III director, succeeding retiring CEO Corey A. Chambas. His Employment Agreement runs for an initial five-year term, with an annual base salary of at least $600,000 and eligibility for annual cash and long‑term incentive programs.

On May 16, 2026, Seiler will receive restricted stock units with a target value of $215,000, vesting over five years (15% on each of the first four anniversaries and 40% on the fifth), subject to continued employment and without retirement vesting. If terminated without Cause or he resigns for Good Reason, he is entitled to severance equal to two times base salary, prorated bonus, certain incentive payouts, and up to 18 months of health coverage, all subject to a release. The Agreement also includes customary confidentiality, non‑competition, and non‑solicitation covenants lasting up to 24 months after employment ends.

First Business Financial Services, Inc. furnished a Q1 2026 investor presentation highlighting strong balance sheet and earnings trends. Tangible book value per share rose 14% year-over-year, while pre-tax, pre-provision earnings grew 6.1% and net income increased 9.4%.

Loans grew 14.9% from the linked quarter and 9.9% year-over-year, and core deposits rose 18.4% from the linked quarter and 13.5% year-over-year, supporting a net interest margin of 3.56% (3.61% excluding fewer accrual days). Non-performing assets declined to $40.5 million, or 0.94% of total assets.

The presentation also emphasizes a five‑year plan targeting at least 15% ROATCE and ≥10% annual growth in revenue and tangible book value, a dividend of $0.34 per share (up 17%), solid capital ratios, and a long history of above‑peer total shareholder return.

First Business Financial Services, Inc. reported results from its April 24, 2026 Annual Meeting of Shareholders. Three Class I directors — Carla C. Chavarria, Jerry L. Kilcoyne, and Daniel P. Olszewski — were elected with more than 95% of votes cast in favor. An aggregate 6,628,094 shares, or 80% of the 8,325,376 shares outstanding as of February 18, 2026, were represented at the meeting.

Shareholders approved the 2026 Equity Incentive Plan with 5,572,057 votes for, and supported executive compensation in a non-binding advisory vote with 5,506,342 votes for. Crowe LLP was ratified as independent auditor for 2026 with 6,533,632 votes for, or 99% of votes cast. The materials also note director Ralph R. Kauten’s retirement and that Dave Seiler will become President and Chief Executive Officer effective May 3, 2026, succeeding Corey Chambas.

First Business Financial Services, Inc. reported first quarter 2026 diluted EPS of $1.44 on net income available to common shareholders of $11.98 million, up from $10.95 million a year earlier. Loans rose 9.9% year-over-year to $3.50 billion and core deposits grew 13.5% to $2.80 billion, supporting a 3.56% net interest margin and 13.55% return on average tangible common equity.

The board declared a quarterly common dividend of $0.34 per share, a 24% payout of first quarter EPS, and maintained dividends on 7% Series A preferred stock. Tangible book value per share increased 13.6% year-over-year to $42.68, while non-performing assets were $40.5 million, or 0.94% of total assets, down from 1.07% in the prior quarter. The company also announced that David R. Seiler will become President and Chief Executive Officer effective May 3, 2026, succeeding Corey A. Chambas.

First Business Financial Services, Inc. named David R. Seiler as President and Chief Executive Officer, effective May 3, 2026, succeeding retiring CEO Corey A. Chambas. Seiler will also join the Board as a Class III director, serving until the 2028 annual shareholders meeting.

Under a new five-year employment agreement, Seiler will receive a base salary of at least $600,000 and be eligible for annual cash and long-term incentives. He is scheduled to receive restricted stock units valued at $215,000 on May 16, 2026, vesting over five years, along with severance protections if he is terminated without cause or resigns for good reason.

First Business Financial Services, Inc. reported that its Board Compensation Committee approved vesting of 2023 performance restricted stock units for executive officers under the Long-Term Incentive Plan. The award covered a 2023–2025 performance period and was based on “Superior” results for both Total Shareholder Return and Return on Average Tangible Common Equity. As a result, shares of common stock vested for named executives, including 10,370 shares for CEO Corey A. Chambas and smaller grants for four other officers.

First Business Financial Services, Inc. released a CEO letter highlighting strong 2025 results and its long-term strategy. The company delivered about 10% growth in top-line revenue and more than 14% growth in both pre-tax, pre-provision earnings and earnings per share, extending its record of double-digit annual growth.

Core deposits grew 12% over 2024, improving the core deposit funding mix to 75% at year-end, compared with 50% when the company went public. Over 20 years, non-interest income has grown at about 12% annually, with private wealth management fees growing over 14% per year.

The letter notes nearly 600% total shareholder return from October 2005 through January 2026, and efficiency gains as the efficiency ratio improved from 62.75% in 2015 to 58.78% in 2025. The bank ended 2025 with 365 FTEs, higher revenue per employee, an employee engagement score of 85%, and a Net Promoter Score of 78. CEO Corey Chambas plans to retire on May 2, 2026, with President and COO Dave Seiler to become President and CEO.

First Business Financial Services, Inc. filed a current report stating that on February 3, 2026, it posted a new investor presentation on its website under the Investor Relations section. The slides give an overview of the company’s recent operating performance, financial condition, and business strategy.

The company plans to use this presentation when executives speak with shareholders, analysts, and other third parties. The slide deck is included as Exhibit 99.1 and is being furnished under Regulation FD, meaning it is not considered filed for liability purposes or automatically incorporated into other securities filings unless specifically referenced.

First Business Financial Services, Inc. reported a planned board transition. Director Ralph R. Kauten notified the company that he will retire from the Board of Directors at the conclusion of the 2026 Annual Meeting of Shareholders, expected on or about April 24, 2026.

Mr. Kauten has served on the board since 2018 and is retiring in line with the company’s Director Retirement Policy upon reaching age 75. The company stated that his retirement does not involve any disagreement on operations, policies, or practices. Jason R. Graham will succeed Mr. Kauten as Chair of the Audit Committee upon his retirement.

First Business Financial Services, Inc. filed a current report describing recent earnings communications. On January 29, 2026, the company announced its earnings for the quarter ended December 31, 2025 and declared a quarterly cash dividend on its common stock and 7% Series A preferred stock.

The company is furnishing a press release with financial information as Exhibit 99.1 and an investor presentation as Exhibit 99.2. The presentation, also posted on its website, will be used for the fourth quarter 2025 earnings call scheduled for 1:00 p.m. Central time on January 30, 2026.

First Business Financial Services, Inc. furnished an investor presentation under Regulation FD. On November 10, 2025, the company posted updated slides on its website (www.firstbusiness.bank) under Investor Relations and furnished the same as Exhibit 99.1 to this Form 8-K. The materials offer an overview of recent operating performance, financial condition, and business strategy and may be used in meetings with shareholders and analysts.

The information is being furnished, not filed, and is not subject to Section 18 liabilities, except as otherwise required.

First Business Financial Services, Inc. (FBIZ) announced its Board declared a quarterly cash dividend of $0.29 per common share, the same as July 2025. The dividend is payable on December 3, 2025 to shareholders of record on November 19, 2025.

The Board also declared a dividend on its 7% Series A Preferred Stock of $17.50 per share, payable on December 15, 2025 to shareholders of record on November 28, 2025.

First Business Financial Services, Inc. announced its earnings for the quarter ended September 30, 2025. The Company furnished its press release as Exhibit 99.1.

The Company also posted an investor presentation on its website and furnished it as Exhibit 99.2. Management plans to use these materials during the third quarter 2025 earnings call at 1:00 p.m. Central on October 31, 2025.