First Business Celebrates 25 Year Anniversary
MADISON, WI, – May 27, 2015 – First Business Financial Services, Inc. (NASDAQ: FBIZ) is celebrating its 25 year anniversary. A $1.7 billion financial services holding company headquartered in Madison celebrates its entrepreneurial story and humble beginnings.
First Business was started in 1990 when Jerry Smith and his partners raised $3 million of equity from 167 local investors. It was the first bank in the Midwest to focus exclusively on businesses. For its first five years, the company operated as a business bank with one location in Madison. As the years went on, First Business developed logical business extensions to meet its clients’ needs.
In 1995, First Business added an asset-based lending company; in 1997 it began providing equipment finance and leasing services; in 1999 it started a trust and investments division; and in 2000 it opened a Milwaukee bank. In 2005, First Business went public on the NASDAQ exchange. As a publically traded company, First Business continued to grow.
In 2006, First Business added a regional headquarters for First Business Bank in Appleton, creating its Northeast Wisconsin division. In 2012 the firm successfully completed a $29 million equity raise and also established a factoring company in Chicago. In 2014, First Business added a regional office for First Business Bank – Milwaukee in Kenosha, Wisconsin, and successfully completed its first whole bank acquisition by purchasing the holding company of Alterra Bank in Kansas
Although originally launched as a business bank with $3 million in capital, First Business now meets the unique needs of businesses, business executives, and high net-worth individuals through specialized business banking, private wealth, and specialty finance services and has a market cap at nearly $200 million. Last year the company was voted the #1 Business Bank (for the eighth year in a row) and the #1 Private Wealth Management Firm by InBusiness Magazine’s Executive Register; appeared on the ABA Banker National Top 25 list; was added to Russell 2000; and was recognized as having the highest trust revenue growth of any bank in Wisconsin, and 35th nationally. Alterra Bank was also recognized as the #1 SBA Lender in the Kansas City Market (for the 3rd year in a row).
First Business celebrated its 25 year anniversary at the Monona Terrace on Monday, May 18, 2015 following its annual shareholder meeting. A documentary video was released featuring: Chairman and Co-Founder Jerry Smith, President & CEO, Corey Chambas, and select long-standing employees at First Business. This video is now available under “Company Highlights” at www.firstbusiness.com.
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.