secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BUSINESS FINANCIAL SERVICES, INC. (FBIZ)
CIK:        0001521951
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001521951-24-000028
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1521951/000152195124000028/0001521951-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1521951/000152195124000028/fbiz-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001521951-24-000028

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