First Business Financial Services, Inc. Selected by Piper Sandler as a Class of 2023 “Sm-All Star”
October 12 2023 - 5:30PM
Business Wire
First Business Financial Services, Inc., (Nasdaq: FBIZ), parent
company of First Business Bank, today announces it was selected by
Piper Sandler for inclusion among its Sm-All Stars Class of
2023.
The annual analysis, which ranks performance of banks with a
market cap below $2.5 billion, involves rigorous selection criteria
related to growth, profitability, credit quality, and strength of
capital. As one of only 31 small-cap banks in the country named to
the Sm-All Stars Class of 2023, the selection places First Business
Financial Services, Inc. among the top 10% in the industry on those
performance metrics. First Business Financial Services, Inc. also
was selected as a Sm-All Star in 2021 and 2013.
“In a particularly turbulent time for banks, receiving this
recognition underscores the strength of our differentiated model
and strategy,” said Corey Chambas, CEO of First Business Financial
Services, Inc. “This year, this accolade feels particularly
significant to our team. First Business Bank’s performance
showcases our unwavering commitment to understanding and uniquely
addressing the needs of entrepreneurs, business leaders, and
investors. A heartfelt thank you to every dedicated First Business
Bank employee who consistently goes the extra mile for our valued
clients and stakeholders.”
First Business Financial Services, Inc. was recognized by Piper
Sandler for its performance on key metrics1 over the 12 months
ended June 30, 2023, including:
- Earnings per share (EPS) growth of 1.6%
- Loan growth of 16.8%
- Deposit growth of 35.3%
- Return on average equity (ROAE) of 14.66%
- Ratio of nonperforming assets (NPAs) to loans and other real
estate owned (OREO) of 0.59%
- Ratio of net charge offs (NCOs) to average loans of 0.03%
- Ratio of tangible common equity (TCE) to tangible assets (TA)
of 7.7%
1.
Source: S&P Capital IQ, Piper
Sandler.
About First Business Financial Services, Inc.
First Business Financial Services, Inc®., (Nasdaq: FBIZ) is the
parent company of First Business Bank®. First Business Bank
specializes in Business Banking, including Commercial Banking and
Specialty Finance, Private Wealth, and Bank Consulting services,
and through its refined focus, delivers unmatched expertise,
accessibility, and responsiveness. Specialty Finance solutions are
delivered through First Business Bank’s wholly owned subsidiary
First Business Specialty Finance, LLC®. For additional information,
visit firstbusiness.bank.
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version on businesswire.com: https://www.businesswire.com/news/home/20231012692282/en/
Jen Braico First Business Bank. 608-239-9271
jbraico@firstbusiness.bank
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