First Business Bank Q2 net income $10.2M, EPS $1.23 beats linked quarter; NIM expands to 3.65%

FIRST BUSINESS FINANCIAL SERVICES, INC.

2024-Q2 EPS reported $2.26

Diluted EPS $1.23 (vs $1.04 Q1 2024, $0.98 Q2 2023); net income $10.2M, up 15% linked quarter.
Net interest margin 3.65%, up 7 bps from linked quarter; net interest income grew 3.5% Q/Q and 10.1% Y/Y.
Loans grew $74.6M (10.3% annualized) from Q1 2024; up $310.8M (11.6%) Y/Y.
Private Wealth fee income record $3.5M, up 19.6% Y/Y; AUM/A $3.249B, up 11.7% Y/Y.
Tangible book value per share $33.92, up 13.5% Y/Y; non-performing assets down 5.4% linked quarter to 0.53% of assets.

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