FIRST BUSINESS FINANCIAL SERVICES, INC. SEC Filings

FIRST BUSINESS FINANCIAL SERVICES, INC. Chief Human Resources Officer Jodi A. Chandler received 2,080 shares of Common Stock on 2026-04-10 upon vesting of Performance Restricted Stock Unit awards for the 2023-2025 period. To cover tax obligations, 834 shares were withheld at $58.60 per share, resulting in a net increase of 1,246 shares. Following these compensation-related transactions, Chandler directly owns 23,225 shares of Common Stock.

FIRST BUSINESS FINANCIAL SERVICES, INC. CEO Corey A. Chambas reported compensation-related share activity. He received 10,370 shares of Common Stock at no cost upon vesting of Performance Restricted Stock Unit awards for the 2023-2025 performance period, and 4,875 shares were withheld at $58.60 per share to cover tax obligations. After these entries, he directly holds 122,080 shares and indirectly holds 16,992 shares through a 401(k) plan.

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.

The Vanguard Group amended its Schedule 13G/A to report 0 shares of First Business Financial Services Inc Common Stock. The filing explains an internal realignment effective January 12, 2026 that caused disaggregated reporting by certain Vanguard subsidiaries in reliance on SEC Release No. 34-39538. The amendment is signed by Ashley Grim on March 26, 2026.

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. is asking shareholders to vote at its virtual 2026 annual meeting on April 24, 2026. Items include electing three Class I directors through 2029, approving a new 2026 Equity Incentive Plan, an advisory say‑on‑pay vote, and ratifying Crowe LLP as auditor for 2026.

The company highlights strong 2025 results, including 10% total revenue growth, 11% core deposit growth, 8% loan growth, record net income of $49.4 million, earnings per share of $5.94, and a 15.3% return on average tangible common equity. Tangible book value per share grew 13.6%, and five‑year total shareholder return reached 235%, far above peer and index medians.

The proxy details a leadership transition with President & COO Dave Seiler slated to become CEO in May 2026, a robust pay‑for‑performance executive compensation framework, and a proposed 2026 Equity Incentive Plan authorizing 157,000 shares plus unused shares from the 2019 plan for future equity awards. It also emphasizes ESG initiatives, community investment, low employee turnover, strong governance practices, and board‑level oversight of risk, succession planning, and human capital.

First Business Financial Services, Inc. registers a shelf to offer up to $100,000,000 of securities. The prospectus allows the company to offer common stock, preferred stock, debt securities, warrants, units and depositary shares from time to time, in one or more offerings, with specific terms to be set forth in prospectus supplements. As of December 31, 2025, there were 8,325,376 shares outstanding of common stock. The prospectus states proceeds will be used for general corporate purposes and that offerings require separate prospectus supplements describing specific terms and distribution methods.

First Business Financial Services, Inc. files its annual report describing a focused commercial banking model serving small and mid-sized businesses, private wealth clients, and financial institutions through First Business Bank. The company operates one segment with relationship-driven business banking, private wealth, and bank consulting services.

As of December 31, 2025, the Corporation reported total assets of $4.082 billion, total gross loans and leases of $3.375 billion, total deposits of $3.380 billion, and stockholders’ equity of $371.6 million. Lending is concentrated in commercial real estate and commercial and industrial credit, with specialized niches such as asset-based, equipment, floorplan, and SBA lending that typically earn higher yields than traditional loans. The bank is well-capitalized under FDIC standards and serves primary markets in Wisconsin and the Kansas City metro while also originating select products nationwide. Human capital is a strategic focus, with 371 employees, low 10.4% turnover, an 11.8% career path ratio, and multiple Top Workplace awards. The report also notes a planned leadership transition, as long-time CEO Corey Chambas intends to retire effective May 2, 2026, with President and COO David Seiler designated as his successor.