First Business Finl Svcs Inc W - FBIZ STOCK NEWS

First Business Financial Services, Inc. (FBIZ) posted a net income of $8.7 million, or $1.02 per diluted share, for Q1 2022, marking a slight increase from Q4 2021 and a decrease from Q1 2021. The Bank experienced a significant increase in loan growth, totaling $20.9 million, representing a 3.8% annualized growth from Q4 2021, and total in-market deposits grew by $83.1 million, or 17.2% annualized. Non-performing assets fell by 12.1% to $5.7 million. The Company also completed a $32.5 million private placement aimed at supporting growth and a share repurchase plan.

The Negro Leagues Baseball Museum (NLBM) has partnered with First Business Bank to become the 'Official Bank' of the United States Mint Negro Leagues Commemorative Coins program. This initiative, part of a bipartisan effort initiated by U.S. Senators, aims to honor the history of the Negro Leagues. The program includes the production of $5 gold, $1 silver, and half dollar clad coins, potentially generating up to $6 million in revenue. First Business Bank will assist NLBM in maximizing revenue from the coin sales while participating in various museum events.

First Business Financial Services, Inc. (FBIZ) has successfully raised $32.5 million through a private placement, issuing $20 million in subordinated notes and $12.5 million in preferred stock. The proceeds will help redeem $19.4 million in higher-cost securities and support growth strategies. They issued 7.00% Fixed-to-Floating Rate Series A Preferred Stock and 3.50% Fixed-to-Floating Rate Subordinated Notes, enhancing capital positions. A $5 million share buyback was also authorized, effective March 4, 2022.

First Business Financial Services, Inc. (FBIZ) announced a quarterly cash dividend of $0.1975 per share, equating to a 2.57% dividend yield based on the recent market close price of $30.71. This represents a 10% increase compared to the dividend declared in October 2021, with a 17.0% payout ratio based on Q4 2021 earnings. The dividend is payable on February 17, 2022, to shareholders of record as of February 7, 2022. CEO Corey Chambas highlighted the company's revenue growth and commitment to returning value to shareholders.

First Business Financial Services reported a strong performance in Q4 2021, with net income of $8.6 million ($1.01 per share), up from $6.1 million ($0.71 per share) YoY. For 2021, net income reached $35.8 million ($4.17 per share), compared to $17.0 million in 2020. Key highlights include record loan growth of $153.3 million (29.8% annualized), improved asset quality, and significant fee income increases. However, net interest income decreased by 7.1% YoY to $20.9 million due to lower yields. The bank's tangible book value rose by 14.7% annualized to $26.03 per share, indicating robust financial health.

First Business Financial Services, Inc. (FBIZ) has declared a quarterly cash dividend of $0.18 per share, yielding 2.52% based on the recent closing price of $28.59. This dividend matches the amount declared in July 2021 and corresponds to a 16.8% payout ratio based on third quarter earnings per share. The dividend is payable on November 18, 2021, to shareholders on record as of November 8, 2021.

First Business Financial Services, Inc. (Nasdaq: FBIZ) reported a strong third-quarter 2021 with net income of $9.2 million, up 11.7% from the previous quarter and more than doubling from last year. The bank experienced a 7.1% annualized growth in loans, excluding PPP loans, and a record low non-performing asset ratio of 0.29%. Total revenue increased by 8.5% year-over-year, reaching $28.2 million, driven by stable net interest margins and robust fee income. Asset quality improved with a significant decline in non-performing assets, while tangible book value per share rose 14% annualized to $25.11.