First Business Bank Q1 net income $8.8M ($1.05 EPS); deposits up 57% annualized

FIRST BUSINESS FINANCIAL SERVICES, INC.

2023-Q1 EPS reported $1.05

Net income available to common shareholders $8.8M, diluted EPS $1.05 (vs $1.18 in Q4 2022, $1.02 in Q1 2022).
Total deposits grew 56.9% annualized to $2.477B; in-market deposits hit record $2.055B, up 18% annualized.
Loans grew $96.3M or 15.8% annualized from Q4; total loans $2.539B, up 12.8% YoY.
Pre-tax, pre-provision (PTPP) income $13.3M, up 2.9% QoQ and 34.4% YoY; efficiency ratio 62.0%.
Non-performing assets remain low at 0.11% of total assets; tangible book value per share $29.19, up 12.8% annualized.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST BUSINESS FINANCIAL SERVICES, INC. reported first quarter 2023 results: net income $8.8 million, EPS $1.05 diluted earnings per share.

Period: first quarter 2023
Net income: $8.8 million
EPS: $1.05 diluted earnings per share
Result: reported results

Exact text from the filing

FIRST BUSINESS BANK REPORTS FIRST QUARTER 2023 NET INCOME OF $8.8 MILLION -- Strong and stable performance supported by robust growth in loans, deposits, and pre-tax, pre-provision income -- MADISON, Wis., April 27, 2023 (BUSINESS WIRE) -- First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq:FBIZ) reported quarterly net income available to common shareholders of $8.8 million, or $1.05 diluted earnings per share.

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FIRST BUSINESS FINANCIAL SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001521951-23-000035

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