First Business Bank Q1 net income $8.6M ($1.04 EPS); loan growth 8.5% annualized, NIM compresses

FIRST BUSINESS FINANCIAL SERVICES, INC.

2024-Q1 EPS reported $1.04

Net income available to common shareholders $8.6M, diluted EPS $1.04, down from $1.15 in Q4 2023 and flat YoY.
Loans grew $60.6M (8.5% annualized QoQ) and $371.5M YoY; average core deposits rose 17.6% annualized to record $2.346B.
Net interest margin (GAAP) 3.58% vs 3.69% Q4 2023 and 3.86% Q1 2023; adjusted NIM also compressed.
Tangible book value per share $32.97, up 12.9% annualized from $31.94 in Q4 2023 and 13% YoY.
Non-performing assets $20.1M (0.57% of assets) vs $3.5M (0.11%) a year ago; provision for credit losses $2.3M.

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 0.85

FIRST BUSINESS FINANCIAL SERVICES, INC. reported financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 25, 2024, First Business Financial Services, Inc. (the “Company”) announced its earnings for the quarter ended March 31, 2024.

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492 earnings releases filed in the last 30 days. Browse all earnings releases →

FIRST BUSINESS FINANCIAL SERVICES, INC. filing history →

Source: SEC EDGAR

accession 0001521951-24-000028

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