---
schema_version: "secwatch.filing_event.v1"
accession: "0001521951-24-000028"
form_type: "8-K"
ticker: "FBIZ"
cik: "0001521951"
company_name: "FIRST BUSINESS FINANCIAL SERVICES, INC."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T07:54:16.378376+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001521951-24-000028
- form_type: 8-K
- ticker: FBIZ
- cik: 0001521951
- company_name: FIRST BUSINESS FINANCIAL SERVICES, INC.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1521951/000152195124000028/0001521951-24-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1521951/000152195124000028/fbiz-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001521951-24-000028
- JSON: https://secwatch.observer/filing/0001521951-24-000028.json
- Plain text: https://secwatch.observer/filing/0001521951-24-000028.txt

## Key facts
- Earnings Releases
  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
  source text: On April 25, 2024, First Business Financial Services, Inc. (the “Company”) announced its earnings for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1521951/000152195124000028/0001521951-24-000028-index.htm

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