FIRST BUSINESS FINANCIAL SERVICES, INC.

For the period ended Jun 30, 2026. Filed Jul 31, 2026.

About this filing

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.

Jun 30, 2026 · Filed Jul 31, 2026

FBIZ$75.22-0.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows (Unaudited)

	For the Six Months Ended June 30,
	2026	2025
(In Thousands)
Operating activities
Net income	$27,780	$22,593
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes, net	(553)	735
Provision for credit losses	5,027	5,360
Depreciation, amortization and accretion, net	1,897	1,821
Share-based compensation	1,559	1,577
Net loss on sale of tax credit investments	545	60
Amortization of tax credit investments	3,782	3,057
Bank-owned life insurance policy income	(1,514)	(1,051)
Origination of loans for sale	(76,589)	(88,044)
Sale of loans originated for sale	96,030	90,487
Gain on sale of loans originated for sale	(592)	(1,360)
Net gain on repossessed assets	—	(4)
Return on investment in limited partnerships	295	834
Excess tax benefit from share-based compensation	366	229
Net payments on operating lease liabilities	(805)	(784)
Net (decrease) increase in accrued interest receivable and other assets	(11,019)	14,494
Net decrease (increase) in accrued interest payable and other liabilities	636	(22,858)
Net cash provided by operating activities	46,845	27,146
Investing activities
Proceeds from maturities, redemptions, and paydowns of available-for-sale securities	39,875	26,885
Proceeds from maturities, redemptions, and paydowns of held-to-maturity securities	533	1,022
Purchases of available-for-sale securities	(31,249)	(60,690)
Proceeds from sale of repossessed assets	—	24
Net increase in loans and leases	(215,575)	(142,215)
Investments in limited partnerships	(1,548)	(1,472)
Returns of investments in limited partnerships	8	712
Investment in tax credit investments	(9,292)	(12,673)
Distributions from tax credit investments	140	26
Proceeds from sale of tax credit investments	69	2,483
Investment in Federal Home Loan Bank stock	(17,123)	(19,910)
Proceeds from the sale of Federal Home Loan Bank stock	12,890	21,499
Purchases of leasehold improvements and equipment, net	(299)	(410)
Proceeds from sale of leasehold improvements and equipment	42	—
Purchases of bank owned life insurance policies	(25)	(24,500)
Net cash used in investing activities	(221,554)	(209,219)
Financing activities
Net increase in deposits	211,750	198,082
Repayment of Federal Home Loan Bank advances	(576,328)	(966,377)
Proceeds from Federal Home Loan Bank advances	671,011	922,412
Net increase in long-term borrowed funds	60	47
Cash dividends paid	(5,850)	(4,856)
Preferred stock dividends paid	(438)	(438)
Proceeds from issuance of common stock under ESPP	66	72
Purchase of treasury stock	(1,689)	(1,363)
Net cash provided by financing activities	298,582	147,579
Net increase (decrease) in cash and cash equivalents	123,873	(34,494)
Cash and cash equivalents at the beginning of the period	39,485	157,702
Cash and cash equivalents at the end of the period	$163,358	$123,208
Supplementary cash flow information
Cash paid during the period for:
Interest paid on deposits and borrowings	$53,676	$53,908
Net income taxes paid	3,551	381

See accompanying Notes to Unaudited Consolidated Financial Statements

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