First Business Financial Services Announces Increase In Earnings 26.1 Percent
MADISON, WI, – Aug. 4, 2008 (PRIME NEWSWIRE) – First Business Financial Services, Inc. (NASDAQ: FBIZ) reported net income of $1.837 million for the first six months of 2008, an increase of $380 thousand, or 26.1%, from the first six months of 2007.
Diluted earnings per share for the six months ended June 30, 2008 were $0.76 compared to $0.59 reported for the same period in 2007, an increase of 28.8%. The Corporation’s total assets reached $981.9 million at June 30, 2008, an increase of $142.6 million, or 17.0%, from June 30, 2007. Net loans and leases, which totaled $820.8 million as of June 30, 2008, grew $118.4 million, or 16.9%, year-over-year.
A complete copy of the Corporation’s Quarterly Report on Form 10-Q for the period ending June 30, 2008 and all reports filed by the Corporation with the SEC may be accessed through the Corporation’s website.
Chief Executive Officer, Corey Chambas, commented, “Our strong growth in net income was the result of a growing loan portfolio and solid asset quality. We are committed to maintaining our asset quality and further leveraging our team to continue increasing our net income.”
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.