First Business Financial Services: 4Q Earnings Snapshot

Associated Press

Jan. 25, 2019

MADISON First Business Financial Services Inc. (FBIZ) on Thursday reported fourth-quarter earnings of $4.1 million.

The Madison-based bank said it had earnings of 46 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The bank holding company for First Business Bank and First Business Bank-Milwaukee posted revenue of $29.2 million in the period. Its revenue net of interest expense was $21.8 million, surpassing Street forecasts. Three analysts surveyed by Zacks expected $21.4 million.

For the year, the company reported profit of $16.3 million, or $1.86 per share. Revenue was reported as $85.5 million.

First Business Financial Services shares have climbed 6 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.70, a decline of nearly 9 percent in the last 12 months.