---
schema_version: "secwatch.filing_event.v1"
accession: "0001521951-23-000035"
form_type: "8-K"
ticker: "FBIZ"
cik: "0001521951"
company_name: "FIRST BUSINESS FINANCIAL SERVICES, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:52:46.433268+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001521951-23-000035
- form_type: 8-K
- ticker: FBIZ
- cik: 0001521951
- company_name: FIRST BUSINESS FINANCIAL SERVICES, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521951/000152195123000035/0001521951-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521951/000152195123000035/fbiz-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001521951-23-000035
- JSON: https://secwatch.observer/filing/0001521951-23-000035.json
- Plain text: https://secwatch.observer/filing/0001521951-23-000035.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521951/000152195123000035/0001521951-23-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.