First Business Financial Services, Inc. reported Q3 2025 net income of $14.2 million, translating to earnings per share of $1.70. Revenue reached $44.53 million, surpassing analyst estimates of $42.37 million. Net income rose 26.8 % from the $11.2 million reported in Q2 2025 and 37.9 % from the $10.3 million of Q3 2024.
Loan growth for the quarter was $84.6 million, a 10.4 % annualized increase, while core deposit growth reached $59.0 million, a 9.3 % annualized gain. Non‑interest income climbed to $9.6 million, up 36.5 % from the prior year, reflecting stronger fee‑based services. The efficiency ratio improved to 57.4 %, indicating tighter cost control.
The net interest margin held steady at 3.68 %, within the company’s target range, and tangible book value grew 16.8 % annualized. Asset quality improved, with non‑performing assets falling 18 % year‑over‑year.
Management highlighted the continued execution of the five‑year strategic plan, which targets double‑digit growth in loans, deposits, and revenue. The company emphasized its relationship‑driven model and the expansion of its private wealth management services as key drivers of the quarter’s performance.
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