secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSINESS FINANCIAL SERVICES, INC. (FBIZ)
CIK:        0001521951
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0001521951-24-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1521951/000152195124000022/0001521951-24-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1521951/000152195124000022/fbiz-20240229.htm
  HTML page:      https://secwatch.observer/filing/0001521951-24-000022

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer