---
schema_version: "secwatch.filing_event.v1"
accession: "0001521951-24-000022"
form_type: "8-K"
ticker: "FBIZ"
cik: "0001521951"
company_name: "FIRST BUSINESS FINANCIAL SERVICES, INC."
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T06:36:21.613241+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Business Financial reports record PTPP earnings of $56.2M; deposits up 19% in 2023

## Summary
- 2023 net interest margin 3.78%, outperforming peer median by 61 bps (vs 36 bps in 2022).
- In-market deposits grew 19% YoY; loans grew 17% in 2023; trust assets crossed $3B milestone.
- Record pre-tax pre-provision adjusted earnings $56.2M, up 17% YoY; PTPP ROAA 1.75% vs peer 1.24%.
- Tangible book value per share grew 13% in 2023 and cumulative 25% over past two years.
- Private wealth management fees $11.4M, representing 8% CAGR over five years.

## SEC filing metadata
- accession: 0001521951-24-000022
- form_type: 8-K
- ticker: FBIZ
- cik: 0001521951
- company_name: FIRST BUSINESS FINANCIAL SERVICES, INC.
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521951/000152195124000022/0001521951-24-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521951/000152195124000022/fbiz-20240229.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001521951-24-000022
- JSON: https://secwatch.observer/filing/0001521951-24-000022.json
- Plain text: https://secwatch.observer/filing/0001521951-24-000022.txt

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