First Business Financial Services, Inc. (FBIZ) is a registered bank holding company based in Wisconsin. The company operates primarily through its subsidiaries, First Business Bank and First Business Specialty Finance, LLC, providing commercial banking products and services tailored to small and medium-sized businesses, business owners, executives, professionals, and high-net-worth individuals. FBIZ offers a range of financial services, including commercial lending, asset-based lending, accounts receivable financing, equipment financing, and private wealth management.
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Business Banking - Offers commercial banking services, including commercial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, SBA lending and servicing, treasury management services, and company retirement plans.
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Private Wealth Management - Provides trust and estate administration, financial planning, investment management, and private banking services for high-net-worth individuals.
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Bank Consulting - Delivers investment portfolio administrative services, asset liability management services, and asset liability management process validation for other financial institutions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Bradley A. Quade ExecutiveBoard | Chief Credit Officer | Bradley A. Quade is the Chief Credit Officer of First Business Financial Services, Inc. (FBIZ) since April 2020. He previously served as Deputy Chief Credit Officer beginning in October 2019 and has extensive experience in banking with key leadership roles within the company. | ||
Brian D. Spielmann ExecutiveBoard | Chief Financial Officer (CFO) | Brian D. Spielmann has been the CFO of FBIZ since April 2023, and previously served as Deputy Chief Financial Officer and Chief Accounting Officer from May 2022 until his promotion. He has held various finance and accounting roles at FBIZ since 2006, contributing significantly to the company’s strategic growth. | ||
Corey A. Chambas ExecutiveBoard | Chief Executive Officer | Corey A. Chambas is the Chief Executive Officer at FBIZ since December 2006. He has served in several leadership positions including President, COO, Executive Vice President, and Director since July 2002, underscoring his extensive experience and commitment to FBIZ. | View Report → | |
Daniel S. Ovokaitys Executive | Chief Information Officer (CIO) | Daniel S. Ovokaitys has served as Chief Information Officer (CIO) at FBIZ since June 2014. He previously held roles as Head of Corporate IT at Merz Pharmaceuticals (2010 to 2014) , Director of IT at Aurora Health Care (2006 to 2010) , and Manager of IT at the American Transmission Company (2000 to 2006). | ||
David R. Seiler Executive | President | David R. Seiler is the President of FBIZ since January 3, 2023 and has served as Chief Operating Officer since April 2016, bringing over 30 years of financial services experience to the role. | ||
James E. Hartlieb Executive | President, First Business Bank | James E. Hartlieb has served as President of First Business Bank since 2015 and assumed the roles of CEO and Director of FBB in January 2023. With over 30 years of experience in financial services, he previously held positions such as Senior Vice President of Greater Dane County at FBB (2009) and Regional President at AMCORE Bank from 1998 to 2009. | ||
Jodi A. Chandler Executive | Chief Human Resources Officer | Jodi A. Chandler has been the Chief Human Resources Officer at FBIZ since January 2010; she previously served as Senior Vice President-Human Resources and has over 30 years of service at the company. | ||
Laura M. Garcia Executive | Chief Risk Officer (CRO) | Laura M. Garcia is the Chief Risk Officer at FBIZ since March 2022, with over 30 years of experience in financial services focused on commercial banking, credit, compliance, and risk management. Previously, she served as Head of North American Risk and Compliance, Managing Director at BMO Bank, N.A. from 2018 to 2022. | ||
Carla C. Chavarria Board | Independent Director | Senior Vice President and Chief Human Resources Officer at AMC Entertainment, Inc. (since 2014); Director, FBB Board of Directors (since 2018) | Carla C. Chavarria has served as an Independent Director at FBIZ since 2017 and chairs the Compensation Committee while also participating in the Corporate Governance and Nominating Committee. Previously, she held senior roles including Senior Vice President and Chief Human Resources Officer at AMC Entertainment since 2014 and has been a Director on the FBB Board since 2018. | |
Daniel P. Olszewski Board | Independent Director | Director of First Business Bank; Director of the Weinert Center for Entrepreneurship; Private Organization Board Member | Daniel P. Olszewski has served as an Independent Director at FBIZ since 2018. He chairs the Operational Risk Committee and participates on the Corporate Governance and Nominating Committee, drawing on over 30 years of experience in strategic financial services. | |
Jerry L. Kilcoyne Board | Board Chair | Managing Partner, Pinnacle Enterprises, LLC | Jerry L. Kilcoyne is the Board Chair of FBIZ since October 2018 and has served as an Independent Director since November 2011. He has over 35 years of experience in financial services, including his current role as Managing Partner at Pinnacle Enterprises, LLC since 1997 , and formerly served as President of Northbrook Rail Corporation from 1989 to 1996. | |
Laurie S. Benson Board | Independent Director | CEO of LSB Unlimited, LLC; ICEO Senior Advisor at LHH, International Center for Executive Options; Executive Director Emeritus at Nurses on Boards Coalition | Laurie S. Benson has served as an Independent Director at FBIZ since December 2018 and is the Chair of the Corporate Governance and Nominating Committee, contributing to robust governance practices. She has also served as a director on the FBB Board since July 2009, offering strategic oversight. | |
Ralph R. Kauten Board | Director | Owner of Air-Lec Industries; Co-Owner of Mirus Bio | Ralph R. Kauten has served as a Director at FBIZ since December 2018 , and he currently chairs the Audit Committee since December 20, 2024. He also contributes to governance through his active participation on the Operational Risk Committee and has served on the FBB Board since July 2004. | |
W. Kent Lorenz Board | Independent Director | Owner and Managing Director, Lakeside Consulting, LLC | W. Kent Lorenz has served as an Independent Director at FBIZ since 2018. He also contributes to key board committees including Audit, Operational Risk, and Compensation, underscoring his extensive governance experience. |
- Given your intentional yet temporary increase in cash and securities balances to meet liquidity targets, how will you adjust this strategy over the longer term to ensure it does not adversely affect your net interest margin?
- With the reclassification of certain C&I loan fees to fees in lieu of interest, what specific steps are you taking to manage the resulting volatility and ensure margin stability in the face of variable fee income?
- As you continue to expand SBA lending in a competitive environment, how do you plan to address potential risks or revenue shortfalls if economic conditions force a downturn in SBA deal volumes?
- Considering your transition from home loan bank advances to brokered CDs for match funding and the resulting improvement in your loan-to-deposit ratio, how will you maintain competitive funding costs while ensuring sustained core deposit growth?
- In light of the one-quarter anomaly observed with equipment finance charge-offs and current credit pressures, what enhanced risk management measures are you implementing to protect asset quality if the economic outlook weakens further?
Research analysts who have asked questions during FIRST BUSINESS FINANCIAL SERVICES earnings calls.
Damon Del Monte
Keefe, Bruyette & Woods
4 questions for FBIZ
Daniel Tamayo
Raymond James Financial, Inc.
4 questions for FBIZ
Jeff Rulis
D.A. Davidson & Co.
4 questions for FBIZ
Nathan Race
Piper Sandler & Co.
4 questions for FBIZ
Brian Martin
Janney Montgomery Scott
3 questions for FBIZ
Recent press releases and 8-K filings for FBIZ.
- First Business Financial Services, Inc. (FBIZ) reported strong Q2 2025 results, with pre-tax, pre-provision (PTPP) earnings growing 18% year-to-date and net income increasing 17% for the first six months of 2025 compared to the prior-year period. Operating revenue increased 8.1% from Q2 2024, and year-to-date operating revenue rose 10.3% over the first six months of 2024.
- The company achieved significant balance sheet growth, with loans up 8.4% annualized from the linked quarter and 8.9% from Q2 2024, and core deposits growing 11.4% annualized from the linked quarter and 9.7% from Q2 2024. The net interest margin (NIM) was 3.67% for Q2 2025.
- FBIZ demonstrated progress towards its 2024-2028 strategic goals, with year-to-date June 2025 Return on Average Tangible Common Equity (ROATCE) at 14.2% and Tangible Book Value (TBV) growth at 13.6%, aligning with or exceeding annual targets. The company also maintains a robust capital base, with a Total Capital Ratio of 12.25% and a Tier 1 Ratio of 9.66% as of June 30, 2025.
- The quarterly cash dividend was $0.29 per share, representing a 16% increase over December 31, 2024.
- First Business Financial Services Inc. reported strong financial performance in Q2 2025, with core deposits growing 11.4% annualized and loans growing 8.4% annualized from the linked quarter.
- The company achieved an 8.1% increase in operating revenue from Q2 2024, contributing to 10.3% YTD operating revenue growth over the first six months of 2024. This drove 18% growth in pre-tax, pre-provision earnings and 17% growth in net income for the first six months of 2025 compared to the prior-year period.
- Private Wealth Management assets under management and administration reached a record $3.731 billion, with fee income increasing 8.3% over Q2 2024.
- The net interest margin (NIM) remained strong at 3.67% for Q2 2025, and tangible book value per share grew 13.6% from Q2 2024 to $38.54.
- The company maintained a robust capital base, with a Total Capital ratio of 10.50% as of June 30, 2025, and total liquidity of $2,004,058 thousand.
- First Business Financial Services, Inc. (FBIZ) reported net income available to common shareholders of $11.2 million and diluted earnings per share of $1.35 for the second quarter of 2025. This marks an increase from $11.0 million and $1.32 per share in the first quarter of 2025.
- The company achieved significant growth for the first half of 2025, with 10% growth in operating revenue, 18% growth in pre-tax, pre-provision earnings, and 17% growth in net income.
- Balance sheet expansion was robust, with loans increasing 8.4% annualized from the first quarter of 2025 and core deposits growing 11.4% annualized from the linked quarter.
- Tangible book value per share increased an impressive 13.6% compared to the prior year quarter.
- Non-performing assets increased to $28.7 million, or 0.72% of total assets, in Q2 2025, up from $24.092 million or 0.61% in Q1 2025. The company expects an effective tax rate between 16% and 18% for 2025.
- Q1 2025 results show strong operating performance with 14% growth in tangible book value, supported by robust loan growth (+~9%) and core deposit growth (+~11%) compared to prior periods.
- The presentation highlights a record $3.425 billion in Private Wealth Management assets and a 12% increase in fee income, reinforcing the firm’s diversified revenue streams.
- Key operating metrics include a net interest margin of 3.69% and improved asset quality with a decline in non-performing assets, underpinning a solid capital base.
- Robust earnings performance: Adjusted pretax pre-provision earnings increased 23% and EPS rose 27% to $1.32 , with tangible book value per share growing 14% to $37.58 .
- Operating revenue advanced nearly 13% YOY with a stable net interest margin at 3.69% and adjusted NIM close to 3.46% .
- Strong balance sheet growth: Loan balances increased by approximately $275 million (around 10%) and total deposits grew by 18% (by $488 million), with core deposits rising over 11% .
- Strategic funding & fee income diversification: The company is emphasizing relationship-based deposit growth, targeting a 70-80% core deposit mix and diversifying fee income to sustain margin stability .
- Improved asset quality: Non-performing assets declined by 15.2% .
- Q1 2025 earnings highlighted a net income of $11.0 million and EPS of $1.32, reflecting solid profitability despite slightly lower income than Q4 2024.
- Strong growth was reported with loan increases of approximately 9% and core deposit growth of 11%, alongside a tangible book value increase of 14% compared to the prior year quarter.
- The board declared a 16% increase in the quarterly common stock dividend, raising it to $0.29 per share, which represents the 13th consecutive annual raise and yields 22% based on a close price of $51.66.
- A dividend on the 7% Series A Preferred Stock was also declared at $17.50 per share, with payment scheduled for March 17, 2025.
- Record Q4 2024 earnings: EPS of $1.71, tangible book value per share up 23% (annualized), and PTPP income up 15%, reflecting robust operational execution
- Strong loan performance with 8% growth and a $264M (10%) increase, reinforcing lending strength
- Solid deposit expansion: Total deposits up 11% YoY with core deposits rising 13%, underscoring a sturdy client base
- Private Wealth Momentum: Private Wealth AUM hit a record $3.4B with PWM fee income up 16.8%, while overall fee income surged 13% driven by treasury management, SBA gains, and swap fees
- Reported net income of $14.2M and EPS of $1.71 in Q4 2024, which included a tax benefit of $0.28 per share.
- Delivered record operating revenue of $41.2M driven by near 10% loan growth and a 13% expansion in fee income.
- Achieved robust pre-tax, pre-provision earnings of $17.7M, supporting significant tangible book value growth.