AI Earnings Predictions for First Business Financial Services Inc. (FBIZ)

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EX-99.1

2 fbiz-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

FIRST BUSINESS BANK ANNOUNCES FIRST QUARTER 2026 FINANCIAL RESULTS

-- Double-digit loan and deposit growth supports strong earnings and drives tangible book value expansion --

MADISON, Wis., April 23, 2026 (BUSINESS WIRE) -- First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq: FBIZ) reported quarterly net income available to common shareholders of $12.0 million, or earnings per share ("EPS") of $1.44. This compares to net income available to common shareholders of $13.1 million, or $1.58 per share, in the fourth quarter of 2025 and $11.0 million, or $1.32 per share, in the first quarter of 2025.

"Our strong first quarter performance underscores the effectiveness of First Business Bank’s strategy,” said Corey Chambas, Chief Executive Officer. “We delivered broad-based growth, with loans and core deposits increasing 15% and 18%, respectively, exhibiting our team's success in driving exceptional levels of new client acquisition. Our higher-yielding C&I lending portfolios accounted for two-thirds of the late-quarter loan growth and should provide meaningful support to net interest margin going forward. Growth in non-interest income further reinforced the benefits of our diversified revenue model. Additionally, we made progress toward resolving our largest non-performing CRE credit, contributing to an 8% decline in non-accrual loans during the quarter. Our momentum in the first quarter positions us to achieve our full-year target of 10% growth and above-average shareholder returns while maintaining disciplined risk management."

Quarterly Highlights

• Robust Loan Growth. Loans increased $125.9 million, or 14.9% annualized, from the linked quarter and $315.9 million, or 9.9%, from the first quarter of 2025. The Bank's higher-yielding C&I lending portfolios contributed $84.4 million, or 67%, of the linked quarter's growth, the majority of which occurred late in the quarter.

• Continued Core Deposit Growth. Core deposits grew $123.1 million, or 18.4% annualized, from the linked quarter and $333.4 million, or 13.5%, from the first quarter of 2025.

• Net Interest Margin. The Company's net interest margin was 3.56%, compared to 3.53% for the linked quarter. The first quarter was reduced by approximately five basis points due to fewer interest-earnings days. Excluding this impact, net interest margin was 3.61%. The company remains positioned to achieve its targeted net interest margin range of 3.60%-3.65%.

• Strong Non-interest Income. Non-interest income increased $1.2 million, up 15.8% from the prior year quarter, reflecting the ongoing success of revenue diversification efforts, highlighted by a 25.8% increase in service charges on deposits. Fee income as a percentage of operating revenue measured 19.8% for the quarter, up from 18.8% in the prior year quarter.

• Continued Tangible Book Value Growth. The Company’s strong earnings continued to drive growth in tangible book value per share, producing a 13.6% increase compared to the prior year quarter.

1

Quarterly Financial Results

(Unaudited)

As of and for the Three Months Ended

(Dollars in thousands, except per share amounts)

March 31, 2026

December 31, 2025

March 31, 2025

Net interest income

$35,518

$34,762

$33,258

Adjusted non-interest income (1)

8,775

7,461

7,579

Operating revenue (1)

44,293

42,223

40,837

Operating expense (1)

27,081

23,901

24,617

Pre-tax, pre-provision adjusted earnings (1)

17,212

18,322

16,220

Less:

Provision for credit losses

2,960

1,855

2,659

Loss on repossessed assets

—

—

(8)

SBA recourse benefit

(121)

—

—

(Recovery) impairment of tax credit investments

(7)

229

110

Income before income tax expense

14,380

16,238

13,459

Income tax expense

2,180

2,905

2,288

Net income

$12,200

$13,333

$11,171

Preferred stock dividends

219

219

219

Net income available to common shareholders

$11,981

$13,114

$10,952

Earnings per share, diluted

$1.44

$1.58

$1.32

Book value per share

$44.12

$43.19

$39.04

Tangible book value per share (1)

$42.68

$41.75

$37.58

Net interest margin (2)

3.56%

3.53%

3.69%

Fee income ratio (non-interest income / total revenue)

19.81%

17.67%

18.56%

Efficiency ratio (1)

61.14%

56.61%

60.28%

Return on average assets (2)

1.13%

1.25%

1.14%

Return on average tangible common equity (2)

13.55%

14.83%

14.12%

Period-end loans and leases receivable

$3,498,903

$3,373,241

$3,184,400

Average loans and leases receivable

$3,425,751

$3,363,752

$3,185,796

Period-end core deposits

$2,796,059

$2,673,003

$2,462,695

Average core deposits

$2,848,601

$2,765,730

$2,362,894

Allowance for credit losses, including unfunded commitment reserves

$38,489

$37,692

$36,515

Non-performing assets

$40,503

$43,855

$24,092

Allowance for credit losses as a percent of total gross loans and leases

1.10%

1.12%

1.15%

Non-performing assets as a pe

8-K

0001521951false00015219512026-01-292026-01-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 29, 2026

First Business Financial Services, Inc. (Exact name of Registrant as Specified in Its Charter)

Wisconsin

001-34095

39-1576570

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

401 Charmany Drive

Madison, Wisconsin

53719

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 608 238-8008

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

FBIZ

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On January 29, 2026, First Business Financial Services, Inc. (the “Company”) announced its earnings for the quarter ended December 31, 2025, as well as the declaration of a quarterly cash dividend on its common stock and 7% series A preferred stock. A copy of the Company’s press release containing this information is being “furnished” as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On January 29, 2026, the Company posted an investor presentation to its website www.firstbusiness.bank under the “Investor Relations” tab. The information included in the presentation provides an overview of the Company’s recent operating performance, financial condition, and business strategy. The Company intends to use this presentation in connection with its fourth quarter 2025 earnings call to be held at 1:00 p.m. Central time on January 30, 2026, and from time to time when the Company's executives interact with shareholders, analysts, and other third parties. A copy of the registrant’s presentation is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in Items 2.02 and 7.01 of this Current Report on Form 8-K and Exhibits 99.1 and 99.2 attached hereto is being “furnished” and will not, except to the extent required by applicable law or regulation, be deemed “filed” by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor will any of such information or exhibits be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibit is being “furnished” as part of this Current Report on Form 8-K:

99.1

Press release of the registrant dated January 29, 2026, containing financial information for its quarter ended December 31, 2025.

99.2

Supplemental earnings call slides

104

Cover Page Interactive Data File (embedded within the Inline XBRL Document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

January 29, 2026

FIRST BUSINESS FINANCIAL SERVICES, INC.

By:

/s/ Brian D. Spielmann

Name:

Brian D. Spielmann

Title:

Chief Financial Officer