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Midas Edge

FIRST BUSINESS FINANCIAL SERVICES, INC.

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 25, 2026

FBIZ$75.81+2.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

FIRST BUSINESS FINANCIAL SERVICES, INC.

INDEX — FORM 10-K

PART I1
Item 1. Business1
Item 1A. Risk Factors19
Item 1B. Unresolved Staff Comments35
Item 1C. Cybersecurity35
Item 2. Properties36
Item 3. Legal Proceedings36
Item 4. Mine Safety Disclosures37
PART II37
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities37
Item 6. [Reserved]39
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations40
Item 7A. Quantitative and Qualitative Disclosures about Market Risk67
Item 8. Financial Statements and Supplementary Data68
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure123
Item 9A. Controls and Procedures123
Item 9B. Other Information123
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections123
PART III124
Item 10. Directors, Executive Officers and Corporate Governance124
Item 11. Executive Compensation124
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters124
Item 13. Certain Relationships and Related Transactions, and Director Independence124
Item 14. Principal Accountant Fees and Services125
PART IV126
Item 15. Exhibits and Financial Statements Schedules126
Signatures128
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.