First Business Finl Svcs Inc W - FBIZ STOCK NEWS

First Business Bank (Nasdaq: FBIZ) has announced a 16% increase in its quarterly cash dividend, raising it to $0.29 per share. This represents a dividend yield of 2.25% based on Friday's closing price of $51.66. The increase marks the company's 13th consecutive annual dividend raise, with a dividend payout ratio of 17% based on fourth quarter 2024 earnings per share.

The quarterly dividend will be payable on February 28, 2025, to shareholders of record as of February 14, 2025. Additionally, the company declared a dividend on its 7% Series A Preferred Stock of $17.50 per share, payable on March 17, 2025, to shareholders of record on February 28, 2025.

First Business Financial Services (FBIZ) reported record Q4 2024 net income of $14.2 million, or $1.71 per share, compared to $10.3 million ($1.24/share) in Q3 2024 and $9.6 million ($1.15/share) in Q4 2023. The quarter included tax and SBA recourse reserve benefits totaling $0.28 per share.

Key highlights include: record operating revenue of $41.2 million (up 8.1% from Q3), strong loan growth of $63.6 million (8.3% annualized), and a net interest margin of 3.77%. Private Wealth assets reached a record $3.419 billion, generating fee income of $3.4 million. Pre-tax, pre-provision income grew to $17.7 million, up 14.8% from Q3.

The company maintained strong credit quality with allowance for credit losses at 1.20% of total loans. Non-performing assets increased to $28.4 million (0.74% of total assets), up from 0.52% in Q3 2024.

First Business Financial Services (Nasdaq: FBIZ) has announced a conference call to discuss its financial and operating performance for the fourth quarter ended December 31, 2024. The company, which operates as First Business Bank, will host the call to review its quarterly results.

First Business Financial Services (Nasdaq: FBIZ) announced a quarterly cash dividend of $0.25 per share on its common stock, representing a 2.23% yield based on the market close price of $44.82. The dividend maintains the same level as declared in July 2024, with a 20% payout ratio based on Q3 2024 earnings. Payment is scheduled for November 20, 2024, to shareholders of record as of November 7, 2024. Additionally, a dividend of $17.50 per share was declared on the 7% Series A Preferred Stock, payable December 16, 2024, to shareholders of record on November 29, 2024.

First Business Financial Services (FBIZ) reported Q3 2024 net income of $10.3 million, or $1.24 per diluted share, compared to $10.2 million in Q2 2024 and $9.7 million in Q3 2023. The bank maintained a stable net interest margin of 3.64% and showed strong growth with loans increasing 8.7% annualized from Q2 2024. Total deposits grew 11.8% annualized to a record level, while Private Wealth assets reached $3.398 billion, up 16.6% year-over-year. Pre-tax, pre-provision income grew to $15.4 million, reflecting solid balance sheet growth and operational efficiency.

First Business Financial Services, Inc. (Nasdaq: FBIZ), operating as First Business Bank, has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled to discuss the company's financial and operational performance for the quarter ending September 30, 2024. This event provides an opportunity for stakeholders to gain insights into the company's recent performance and potentially its future outlook. The announcement indicates that First Business Bank is maintaining its commitment to transparency and shareholder communication by hosting this quarterly earnings call.

First Business Financial Services (Nasdaq: FBIZ) has declared a quarterly cash dividend of $0.25 per share on its common stock, maintaining the same level as the previous quarter. This dividend represents a yield of 2.30% based on the recent market close price of $43.49 and a payout ratio of 20% based on Q2 2024 earnings. The dividend will be payable on August 21, 2024, to shareholders of record as of August 8, 2024. Additionally, the company announced a dividend of $17.50 per share on its 7% Series A Preferred Stock, payable on September 16, 2024, to shareholders of record on August 31, 2024.

First Business Bank (Nasdaq: FBIZ) reported a Q2 2024 net income of $10.2 million, or $1.23 per diluted share, up from $8.6 million in Q1 2024 and $8.1 million in Q2 2023. The bank achieved double-digit loan growth, increasing loans by $74.6 million (10.3% annualized) from Q1 2024, and $310.8 million (11.6%) from Q2 2023. Net interest margin expanded to 3.65%, up from 3.58% in the prior quarter. Private Wealth fee income reached a record $3.5 million, marking a 19.6% increase from the previous year.

Non-performing assets decreased by $1.1 million from the previous quarter, accounting for 0.53% of total assets. The bank's tangible book value grew by 13.5% YoY, supported by strong earnings and a stable balance sheet. Despite increased non-interest expenses and higher loan loss provisions, the bank's diversified income sources and effective funding strategy contributed to robust financial performance.

First Business Financial Services, Inc., operating as First Business Bank (Nasdaq: FBIZ), announced a $5.0 million share repurchase program. The company's board approved the program for ongoing capital management, although there are no immediate repurchase plans. The initiative aims to provide flexibility in capital management and enhance shareholder value when deemed appropriate.