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FBIZ

First Business Financial Services, Inc.

FBIZ

First Business Financial Services, Inc. • NASDAQ
$52.22 ▼ -0.59% (-0.31)
Market Cap $434.68 M
52w High $56.46
52w Low $42.18
Dividend Yield 1.16%
P/E 8.6
Volume 7.73K
Outstanding Shares 8.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $73.386M ▲ $25.7M ▲ $14.393M ▲ 19.613% ▲ $1.7 ▲ $18.389M ▲
Q2-2025 $68.537M ▲ $24.968M ▲ $11.422M ▲ 16.665% ▲ $1.35 ▲ $14.32M ▼
Q1-2025 $67.109M ▼ $24.719M ▲ $11.171M ▼ 16.646% ▼ $1.32 ▼ $14.33M ▼
Q4-2024 $68.115M ▲ $23.151M ▲ $14.415M ▲ 21.163% ▲ $1.71 ▲ $16.315M ▲
Q3-2024 $66.391M $23.107M $10.526M 15.855% $1.24 $13.83M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $45.817M ▼ $4.035B ▲ $3.677B ▲ $358.319M ▲
Q2-2025 $505.573M ▼ $4.003B ▲ $3.658B ▲ $344.795M ▲
Q1-2025 $530.011M ▲ $3.945B ▲ $3.609B ▲ $336.063M ▲
Q4-2024 $499.094M ▲ $3.853B ▲ $3.525B ▲ $328.589M ▲
Q3-2024 $445.308M $3.716B $3.404B $311.982M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $14.393M ▲ $18.408M ▲ $-113.054M ▼ $15.787M ▼ $-78.859M ▼ $18.262M ▲
Q2-2025 $11.422M ▲ $15.845M ▲ $-111.791M ▼ $48.537M ▼ $-47.409M ▼ $15.515M ▲
Q1-2025 $11.171M ▼ $11.301M ▼ $-97.428M ▲ $99.042M ▼ $12.915M ▼ $11.221M ▼
Q4-2024 $14.415M ▲ $21.964M ▲ $-102.105M ▼ $105.871M ▲ $25.73M ▼ $21.922M ▲
Q3-2024 $10.526M $13.794M $-66.645M $103.743M $50.892M $14.409M

Five-Year Company Overview

Income Statement

Income Statement Revenue and profits have trended upward over the past five years, roughly doubling the top line while keeping profitability at healthy levels. Earnings per share have climbed over time as well, despite a modest dip in the middle of the period, which suggests the core business is growing and reasonably well managed. The bank appears to balance growth and profitability rather than chasing volume at any cost. As with all regional banks, results remain sensitive to credit quality and interest rate swings, but there are no obvious signs of structural weakness in recent performance.

Balance Sheet

Balance Sheet The balance sheet has expanded steadily, with assets and shareholder equity both growing at a healthy pace. Cash levels have inched higher, providing more flexibility, while borrowings have not ballooned in proportion to balance-sheet growth, indicating a reasonably controlled leverage profile for a bank. Overall, the company looks to be building scale while maintaining a solid capital base, though long-term resilience will still depend on loan book quality and deposit stability in different economic conditions.

Cash Flow

Cash Flow Cash generation from the core business has improved gradually year after year, and free cash flow closely tracks operating cash flow, reflecting a relatively light need for ongoing capital spending. This is typical of a financial services model that is more about people, systems, and risk management than heavy physical assets. Consistent, positive cash flow provides room to support growth initiatives, absorb credit losses in tougher times, and return capital when appropriate, as long as risk remains well managed.

Competitive Edge

Competitive Edge First Business positions itself as a relationship-driven, niche-focused regional bank rather than a mass-market player. Its strength lies in serving small and mid-sized businesses, high-net-worth clients, and specialty finance needs, supported by expertise in government-backed lending and tailored credit solutions. The combination of high-touch advisory service, focused product sets, and an efficient, lean-branch model gives it a defensible niche against larger, more transactional competitors. The flip side is exposure to specific client segments and geographies, which could be a vulnerability if local economies or target industries weaken.

Innovation and R&D

Innovation and R&D For a regional bank, FBIZ appears relatively advanced in its use of technology. It leans on a modern tech stack, deep Salesforce integration, e-signature and document automation tools, and targeted fintech partnerships to streamline back-office work and improve the client experience. The bank is also investing in upgraded systems for areas like equipment finance, which could enhance efficiency and scalability. Rather than competing as a pure digital bank, it uses technology to strengthen its relationship model, though the payoff from these investments will depend on execution and user adoption over time.

Summary

First Business Financial Services shows a pattern of steady growth in revenue, earnings, and cash flow, supported by a balance sheet that has expanded without obvious signs of overreach. Its strategy centers on specialized, relationship-based banking for business and wealth clients, augmented by thoughtful use of technology rather than flashy digital offerings. This creates a clear niche and some degree of competitive moat, but also brings the usual regional bank risks: concentration in certain markets and client types, sensitivity to credit cycles, and reliance on stable funding. Overall, FBIZ looks like a focused, steadily growing regional player that is trying to scale its strengths through disciplined balance-sheet management and targeted tech investment, with future performance hinging on credit quality, deposit growth, and successful execution of its innovation roadmap.

NEWS

November 6, 2025 · 4:30 PM UTC

First Business Bank Declares Quarterly Cash Dividends

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October 30, 2025 · 4:01 PM UTC

First Business Bank Reports Third Quarter 2025 Net Income of $14.2 Million

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October 7, 2025 · 8:30 AM UTC

First Business Bank Announces Third Quarter 2025 Earnings Conference Call

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