FIRST BUSINESS FINANCIAL SERVICES, INC.
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 31, 2025
FBIZ$75.22-0.8%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (In Thousands) | ||
| Operating activities | ||
| Net income | $36,986 | $29,830 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Deferred income taxes, net | 225 | 565 |
| Provision for credit losses | 6,800 | 6,126 |
| Depreciation, amortization and accretion, net | 2,824 | 2,723 |
| Share-based compensation | 2,161 | 1,938 |
| Net loss on disposal of fixed assets | — | 10 |
| Net loss on sale of securities | — | 8 |
| Net loss on sale of tax credit investments | 60 | — |
| Amortization of tax credit investments | 4,104 | 3,888 |
| Bank-owned life insurance policy income | (2,016) | (1,231) |
| Origination of loans for sale | (113,272) | (103,865) |
| Sale of loans originated for sale | 115,030 | 101,285 |
| Gain on sale of loans originated for sale | (1,742) | (1,004) |
| Net loss on repossessed assets | 27 | 162 |
| Return on investment in limited partnerships | 1,334 | 1,481 |
| Excess tax benefit from share-based compensation | 233 | 172 |
| Net payments on operating lease liabilities | (1,184) | (1,099) |
| Net increase (decrease) in accrued interest receivable and other assets | 17,263 | (10,465) |
| Net (increase) decrease in accrued interest payable and other liabilities | (23,279) | 5,003 |
| Net cash provided by operating activities | 45,554 | 35,527 |
| Investing activities | ||
| Proceeds from maturities, redemptions, and paydowns of available-for-sale securities | 42,416 | 60,688 |
| Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities | 1,151 | 1,586 |
| Proceeds from sale of available-for-sale securities | — | 7,533 |
| Purchases of available-for-sale securities | (102,813) | (79,066) |
| Proceeds from sale of repossessed assets | 24 | 18 |
| Net increase in loans and leases | (227,513) | (203,422) |
| Investments in limited partnerships | (3,029) | (1,200) |
| Returns of investments in limited partnerships | 229 | 22 |
| Investment in tax credit investments | (12,673) | (13,417) |
| Distributions from tax credit investments | 26 | 130 |
| Proceeds from sale of tax credit investments | 2,483 | 1,645 |
| Investment in Federal Home Loan Bank stock | (20,634) | (20,555) |
| Proceeds from the sale of Federal Home Loan Bank stock | 22,645 | 19,822 |
| Purchases of leasehold improvements and equipment, net | (556) | (181) |
| Proceeds from sale of leasehold improvements and equipment | — | 30 |
| Purchases of bank owned life insurance policies | (24,500) | — |
| Proceeds from bank owned life insurance claim | 471 | — |
| Net cash used in investing activities | (322,273) | (226,367) |
| Financing activities | ||
| Net increase in deposits | 225,931 | 173,168 |
| Repayment of Federal Home Loan Bank advances | (1,040,261) | (908,205) |
| Proceeds from Federal Home Loan Bank advances | 986,812 | 921,155 |
| Repayment of subordinated notes and debentures | — | (15,000) |
| Proceeds from issuance of subordinated notes and debentures | — | 20,000 |
| Net increase in long-term borrowed funds | 77 | 243 |
| Cash dividends paid | (7,271) | (6,242) |
| Preferred stock dividends paid | (656) | (656) |
| Proceeds from issuance of common stock under ESPP | 108 | 96 |
| Purchase of treasury stock | (1,374) | (1,257) |
| Net cash provided by financing activities | 163,366 | 183,302 |
| Net decrease in cash and cash equivalents | (113,353) | (7,538) |
| Cash and cash equivalents at the beginning of the period | 157,702 | 139,510 |
| Cash and cash equivalents at the end of the period | $44,349 | $131,972 |
| Supplementary cash flow information | ||
| Cash paid during the period for: | ||
| Interest paid on deposits and borrowings | $82,646 | $82,002 |
| Net income taxes paid | 1,613 | 853 |
| Non-cash investing and financing activities: | ||
| Right-of-use assets obtained in exchange for lease liabilities | 712 | — |
| Transfer of repossessed assets to loans | — | 10 |
See accompanying Notes to Unaudited Consolidated Financial Statements
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