First Business Financial Services Inc. (FBIZ) Financial Statements (2024 and earlier)

Company Profile

Business Address 401 CHARMANY DRIVE
MADISON, WI 53719
State of Incorp. WI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments139,510102,68257,11056,90967,10286,546
Cash and cash equivalents139,510102,68257,11056,90967,10286,546
Total current assets:139,510102,68257,11056,90967,10286,546
Noncurrent Assets
Operating lease, right-of-use asset6,5597,6904,9105,8146,906
Property, plant and equipment6,1904,3401,6941,9982,5573,284
Intangible assets, net (including goodwill), including:12,02312,15912,26812,01811,92212,045
Goodwill 10,70010,70010,70010,70010,70010,700
Other undisclosed intangible assets, net (including goodwill)1,3231,4591,5681,3181,2221,345
Regulated entity, other noncurrent assets  293239253268282
Total noncurrent assets:24,77224,48219,11120,08321,65315,611
Other undisclosed assets3,343,5642,849,4472,576,6842,490,8452,008,0241,864,300
TOTAL ASSETS:3,507,8462,976,6112,652,9052,567,8372,096,7791,966,457
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,218,2582,715,9712,420,4832,361,6751,902,6231,785,750
Total liabilities:3,218,2582,715,9712,420,4832,361,6751,902,6231,785,750
Equity
Equity, attributable to parent, including:289,588260,640232,422206,162194,156180,707
Preferred stock11,99211,992    
Common stock959493929291
Treasury stock, value(30,126)(27,155)(22,031)(16,553)(14,881)(7,633)
Additional paid in capital90,61687,51285,79783,12581,18879,623
Accumulated other comprehensive loss(13,717)(15,310)(1,457)(933)(1,348) 
Retained earnings230,728203,507170,020140,431129,105110,310
Other undisclosed equity, attributable to parent      (1,684)
Total equity:289,588260,640232,422206,162194,156180,707
TOTAL LIABILITIES AND EQUITY:3,507,8462,976,6112,652,9052,567,8372,096,7791,966,457

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues186,680116,89992,61489,99297,40387,433
Net investment income186,725116,89992,58589,99297,40387,433
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(8,182)  (16,808)(2,085)(5,492)
Gross profit:178,498116,89992,61473,18495,31881,941
Operating expenses(9,096)(7,909)(7,289)(6,566)(7,076)(4,012)
Other operating income, net6,9215,1314,1191,9313,5791,247
Noninterest income, other operating income6,9215,1314,1191,9313,5791,270
Operating income:176,323114,12189,44468,54991,82179,176
Nonoperating income1,4942,2271,3981,019974824
Losses on sales of other real estate   (15)(383)(224)(367)
Bank owned life insurance income1,4942,2271,4131,4021,1981,191
Interest and debt expense(82,340)(22,949)(11,333)(17,852)(32,184)(23,933)
Other undisclosed loss from continuing operations before equity method investments, income taxes(48,338)(41,155)(32,479)(33,411)(36,112)(38,413)
Income from continuing operations before equity method investments, income taxes:47,13952,24447,03018,30524,49917,654
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:47,13952,24447,03018,30524,49917,654
Income tax expense(10,112)(11,386)(11,275)(1,327)(1,175)(1,351)
Income from continuing operations:37,02740,85835,75516,97823,32416,303
Income before gain (loss) on sale of properties:35,75516,97823,32416,303
Net income attributable to parent:37,02740,85835,75516,97823,32416,303
Preferred stock dividends and other adjustments(875)(683)    
Undistributed earnings (loss) allocated to participating securities, basic   (1,053)(423)(502)(240)
Net income available to common stockholders, basic:36,15240,17534,70216,55522,82216,063
Other undisclosed net loss available to common stockholders, diluted(938)(1,106)    
Net income available to common stockholders, diluted:35,21439,06934,70216,55522,82216,063

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:37,02740,85835,75516,97823,32416,303
Other comprehensive income (loss)1,593(13,853)(524)415336(429)
Comprehensive income, net of tax, attributable to parent:38,62027,00535,23117,39323,66015,874

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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