MADISON, Wis., May 2, 2011 (GLOBE NEWSWIRE) -- First Business Financial Services, Inc. (Nasdaq:FBIZ) filed its Quarterly Report on Form 10-Q on Friday, April 29, 2011 reporting net income of $1.3 million for the first quarter ending March 31, 2011 as compared to net income of $899,000 reported in the first quarter of 2010. The $450,000 improvement in net income, or 50.1%, is primarily due to an increase in net interest income which is the result of an increase in earning assets combined with an improved net interest margin. Diluted earnings per common share for the quarter was $0.52 versus $0.35 for the comparable period of 2010, an increase of $0.17 or 48.6%.
Corey A. Chambas, President and Chief Executive Officer, commented, "First Business is off to a good start in 2011. We are fortunate to have a unique business model and to be in geographic markets that have relatively stable economies. First Business is proud to be among the publicly traded banks that remained profitable in each of the past three years and our first quarter results are a continuation of that performance."
A complete copy of the Corporation's Quarterly Report on Form 10-Q for the period ending March 31, 2011 and all reports filed by the Corporation with the SEC may be accessed through the Corporation's website, .
About First Business Financial Services, Inc.
First Business Financial Services (Nasdaq:FBIZ) is a $1.1 billion Wisconsin-based bank holding company that specializes in focused financial solutions for businesses, key executives, and high net worth individuals through its operating companies. It is the 3rd largest Wisconsin-based commercial bank holding company listed on NASDAQ or NYSE. Its companies include: First Business Bank - Madison ; First Business Bank - Milwaukee ; First Business Bank - Northeast ; First Business Trust & Investments ; First Business Equipment Finance, LLC ; and First Business Capital Corp. For additional information, visit or call (608) 238-8008.
The First Business Financial Services, Inc. logo is available at
This press release includes "forward-looking" statements related to First Business Financial Services, Inc. (the "Company") that can generally be identified as describing the Company's future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect the Company's future results, please see the Company's filings with the Securities and Exchange Commission.
CONTACT: Jim Ropella Senior Vice President and CFO 608-232-5970 jropella@firstbusiness.com
