Alterra Bank will soon be First Business
ALTERRA BANK WILL BECOME FIRST BUSINESS
Kansas Client Businesses to Gain Seamless Access to Expanded Financial Services Designed for Businesses and Business Owners
LEAWOOD, KS, – May 1, 2017 – First Business Financial Services, Inc. (NASDAQ: FBIZ), the parent company of Alterra Bank, today announces that Alterra Bank will become part of the First Business brand with the legal name of First Business Bank effective June 1, 2017.
The name change follows a January 2017 announcement to consolidate the charters of three subsidiary banks: First Business Bank, headquartered in Madison, WI; First Business Bank – Milwaukee, headquartered in Brookfield, WI; and Alterra Bank, headquartered in Leawood, KS.
The parent company operates in 14 locations in the United States. Alterra is the only location not utilizing the First Business brand. “Our Kansas City employees were the strongest advocates for this change” said Interim President and CEO David Seiler. “We believe our clients will benefit from First Business’s full suite of financial services – focused on the specific needs of businesses and business owners.”
The company will continue to offer SBA lending, commercial lending, treasury management, and private banking services to Kansas City businesses and business owners. Expanded services will now include: retirement plans, equipment finance, asset-based lending, factoring, and private wealth management solutions.
Coinciding with the charter consolidation and the name change, Rob Barker was named the President – Kansas City Region starting June 1. Barker plans to build on the First Business foundation, elevating the client-focused culture, expanding the collective expertise, solving business challenges, and delivering innovative financial solutions to businesses, business owners, and high net worth individuals.
“Our company’s Kansas City employee base has grown by 50% in the past three years, as a result of the commitment to expand our business in the Kansas City market. We are most grateful to our clients, the community, and our associates for our success” stated Barker. “I am enthusiastic about what we can do in the future.”
Johnna Huke will continue as as Vice President & Director of Client Services & Treasury Management.
About First Business
First Business Financial Services is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives and high net worth individuals. First Business offers commercial banking, specialty finance and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility and responsiveness. For additional information, visit www.firstbusiness.com.