First Business Bank Reports Record Third Quarter Earnings
Key Highlights
- ➤Net income $16.4 million, or $1.95 EPS, reached a quarterly record
- ➤PTPP adjusted earnings $21.3 million, up 13.1% year over year
- ➤Core deposits grew 14.1% annualized, outpacing 9.9% annualized loan growth
- ➤Net interest margin expanded to 3.80% from 3.68% year over year
- ➤2026 full-year effective tax rate expected between 13% and 15%
Expert Statements
Dave Seiler, President and Chief Executive Officer of First Business Bank
“Our record third quarter results reflect strong execution across First Business Bank’s relationship-based model”
Dave Seiler, President and Chief Executive Officer of First Business Bank
“Annualized loan growth of approximately 10% was more than fully funded by 14% annualized core deposit growth, while a strong net interest margin and disciplined expense management drove record pre-tax, pre-provision earnings.”
Dave Seiler, President and Chief Executive Officer of First Business Bank
“Through the first nine months of 2026, earnings per share increased 20%, pre-tax, pre-provision earnings increased 14%, and tangible book value per share grew 13% from the prior year.”
Dave Seiler, President and Chief Executive Officer of First Business Bank
“We expect expenses to increase from the third-quarter level as we make planned investments in talent, marketing, technology, and infrastructure to support continued growth.”
Dave Seiler, President and Chief Executive Officer of First Business Bank
“These investments are integral to our long-term model of approximately 10% annual balance sheet growth and positive annual operating leverage.”
Dave Seiler, President and Chief Executive Officer of First Business Bank
“We believe consistent execution of our strategic plan, together with disciplined credit and capital management, will continue to compound earnings and tangible book value per share and support strong long-term profitability.”
-- Core deposit growth outpaces robust loan growth; positive operating leverage drives further tangible book value growth --
First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq: FBIZ) reported quarterly net income available to common shareholders of $16.4 million, or earnings per share ("EPS") of $1.95. This compares to net income available to common shareholders of $15.4 million, or $1.84 per share, in the second quarter of 2026 and $14.2 million, or $1.70 per share, in the third quarter of 2025.
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