secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSINESS FINANCIAL SERVICES, INC. (FBIZ)
CIK:        0001521951
Form:       8-K
Filed at:   2024-09-19T23:59:59+00:00
Accession:  0001104659-24-101214
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Business Financial Services issues $20M of 7.5% Subordinated Debentures due 2034
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- Sold $20M in aggregate principal of 7.5% fixed-rate subordinated debentures to accredited investors on Sept 13, 2024.
- Debentures mature Sept 13, 2034; may be redeemed in whole or part after Sept 13, 2029 at 100% plus accrued interest.
- Net proceeds to repay $15M of 2019 Fixed-to-Floating Rate Subordinated Notes redeemed Aug 15, 2024; remainder for loan growth.
- Debentures qualify as Tier 2 capital and were sold under Rule 506(b) of Regulation D; no right of holder acceleration except for bankruptcy or receivership.
- Issuer: FBIZ (Nasdaq); use of proceeds supports capital position and growth strategy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1521951/000110465924101214/0001104659-24-101214-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1521951/000110465924101214/tm2424271d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-101214

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