First Business Financial Services Inc (NASDAQ: FBIZ) is a Wisconsin-based bank holding company that provides commercial banking services through its wholly-owned subsidiary, First Business Bank. It makes money on the spread between interest earned on loans and leases and the cost of deposits and borrowings, supplemented by fee income. Originally incorporated in 1986 under the laws of the State of Wisconsin, the company focuses on small- to medium-sized business clients across commercial real estate and commercial and industrial lending. As of December 31, 2025, commercial real estate loans represented approximately 61.0% of total gross loans and leases receivable, while commercial and industrial loans represented approximately 37.7%. The C&I portfolio includes asset-based lending, accounts receivable financing, equipment financing, floorplan financing, and SBA lending, with asset-based lending served on a nationwide basis through business development officers in several states.

Revenue model

Net interest income from commercial loans, leases, and deposits; fee income from banking services. Loan portfolio split approximately 61.0% commercial real estate and 37.7% commercial and industrial as of December 31, 2025.

Products and services

Commercial real estate loans (owner-occupied, non-owner-occupied, multifamily, 1-4 family residential development, construction); commercial and industrial loans; asset-based lending (revolving lines of credit, term loans); accounts receivable financing; equipment financing; floorplan financing; SBA lending.

Customers and end markets

Small- to medium-sized businesses. End markets include commercial real estate owners and developers, companies seeking working capital and acquisition financing, equipment buyers, and businesses requiring bank debt refinancing or restructuring.

Value-chain role

Direct lender and deposit-taking bank; originates and holds commercial loans and leases on balance sheet through First Business Bank.

Geographic exposure

Headquartered in Wisconsin; asset-based lending team operates on a nationwide basis through business development officers located in several states.

Source: SEC 10-K, filed 2026-02-25

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