FIRST BUSINESS FINANCIAL SERVICES INC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
FBIZ$75.22-0.8%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
| December 31,2023 | December 31,2022 | |
|---|---|---|
| (In Thousands, Except Share Data) | ||
| Assets | ||
| Cash and due from banks | $32,348 | $25,811 |
| Short-term investments | 107,162 | 76,871 |
| Cash and cash equivalents | 139,510 | 102,682 |
| Securities available-for-sale, at fair value | 297,006 | 212,024 |
| Securities held-to-maturity, at amortized cost | 8,503 | 12,635 |
| Loans held for sale | 4,589 | 2,632 |
| Loans and leases receivable, net of allowance for credit losses of $31,275 and $24,230, respectively | 2,818,986 | 2,418,836 |
| Premises and equipment, net | 6,190 | 4,340 |
| Repossessed assets | 247 | 95 |
| Right-of-use assets, net | 6,559 | 7,690 |
| Bank-owned life insurance | 55,536 | 54,018 |
| Federal Home Loan Bank stock, at cost | 12,042 | 17,812 |
| Goodwill and other intangible assets | 12,023 | 12,159 |
| Derivatives | 55,597 | 68,581 |
| Accrued interest receivable and other assets | 91,058 | 63,107 |
| Total assets | $3,507,846 | $2,976,611 |
| Liabilities and Stockholders’ Equity | ||
| Deposits | $2,796,779 | $2,168,206 |
| Federal Home Loan Bank advances and other borrowings | 330,916 | 456,808 |
| Lease liabilities | 8,954 | 10,175 |
| Derivatives | 51,949 | 61,419 |
| Accrued interest payable and other liabilities | 29,660 | 19,363 |
| Total liabilities | 3,218,258 | 2,715,971 |
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value, 2,500,000 shares authorized, 12,500 shares of 7% non-cumulative perpetual preferred stock, Series A, outstanding at December 31, 2023 and 2022, respectively | 11,992 | 11,992 |
| Common stock, $0.01 par value, 25,000,000 shares authorized, 9,418,463 and 9,371,078 shares issued, 8,314,778 and 8,362,085 shares outstanding at December 31, 2023 and 2022, respectively | 95 | 94 |
| Additional paid-in capital | 90,616 | 87,512 |
| Retained earnings | 230,728 | 203,507 |
| Accumulated other comprehensive loss | (13,717) | (15,310) |
| Treasury stock, 1,103,685 and 1,008,993 shares at December 31, 2023 and 2022, respectively, at cost | (30,126) | (27,155) |
| Total stockholders’ equity | 289,588 | 260,640 |
| Total liabilities and stockholders’ equity | $3,507,846 | $2,976,611 |
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