First Business Financial Services Surpasses $1 Billion In Assets And Announces Dividend
MADISON, WI, – March 17, 2009 (GLOBE NEWSWIRE) – First Business Financial Services, Inc. (NASDAQ: FBIZ) announced the Corporation’s total assets reached $1.011 billion at December 31, 2008, an increase of $92.3 million, or 10%, from December 31, 2007.
- Year-end 2008 assets grew to over $1 billion
- Declares quarterly cash dividend on its common stock of $0.07 per share
- 2008 net income of $3.1 million
- 2008 diluted earnings per share of $1.28
- Loans increased 8.9% and deposits 8.1%, for the year ended
December 31, 2008
Chief Executive Officer Corey Chambas commented, “This is a significant milestone for First Business Financial Services, Inc., and one that we set out to reach back in 2005 when we became a public company. We are one of only a few Wisconsin banking companies to exceed this benchmark, and we have done so exclusively through organic growth in only 18 years.”
First Business Financial Services, Inc. reported net income for the year ended December 31, 2008 of $3.1 million, which is slightly lower than income of $3.3 million of the previous year.
“In these challenging economic times, First Business Financial Services, Inc. is proud to be a bank which remains profitable, is growing and is strong enough to pay a consistent dividend,” stated Corey Chambas, CEO of First Business Financial Services, Inc.
A complete copy of the Corporation’s Annual Report on Form 10-K for the period ending December 31, 2008 and all other reports filed by the Corporation with the SEC may be accessed through the Corporation’s website,www.firstbusiness.com.
The Corporation’s board of directors has declared a quarterly cash dividend on its common stock of $0.07 per share resulting in an annualized dividend of $0.28 per share. The cash dividend is payable on April 15, 2009 to shareholders of record at the close of business on April 1, 2009.
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.