SOURCE: First Business Financial Services, Inc.

November 22, 2005 17:24 ET

First Business Financial Services, Inc. Announces Quarterly Results

MADISON, WI -- (MARKET WIRE) -- November 22, 2005 -- First Business Financial Services, Inc. (the "Company") (NASDAQ: FBIZ) announced today net income for the quarter ended September 30, 2005 of $916 thousand, or $0.37 per diluted share, compared with net income of $717 thousand, or $0.29 per diluted share, for the same quarter in 2004. The growth in net income and diluted earnings per share represented an increase of 28% over the comparable period last year.

For the nine months ended September 30, 2005, the Company reported net income of $3.7 million, or $1.49 per diluted share, compared with net income of $3.1 million, or $1.37 per diluted share, for the comparable period last year.

The Company's total assets ended the third quarter of 2005 at $628.9 million, an annualized increase of 15.6% over the $563.0 million in total assets recorded at December 31, 2004. Net loans and leases at September 30, 2005 were $501.5 million, up an annualized 9.0% over the $469.8 million in net loans at December 31, 2005.

About First Business Financial Services, Inc.

First Business Financial Services, Inc. is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. Its companies include First Business Bank, First Business Bank - Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. For additional information, visit www.fbfinancial.com or call 608-238-8008.

This press release includes "forward-looking" statements related to First Business Financial Services, Inc. (the "Company") that can generally be identified as describing the Company's future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect the Company's future results, please see the Company's filings with the Securities and Exchange Commission.

Contact Information

  • For additional information, please contact:
    Jim Ropella
    Senior Vice President & Chief Financial Officer
    608-232-5970
    Email Contact