FIRST BUSINESS FINANCIAL SERVICES, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Interest expense | — | — | $82.3M | $22.9M | $11.3M |
| Pretax income | $60.5M | $51.1M | $47.1M | $52.2M | $47.0M |
| Income tax expense | $10.1M | $6.9M | $10.1M | $11.4M | $11.3M |
| Net income | $50.3M | $44.2M | $37.0M | $40.9M | $35.8M |
| Balance Sheet | |||||
| Cash and equivalents | $39.5M | $157.7M | $139.5M | $102.7M | $57.1M |
| Total assets | $4.1B | $3.9B | $3.5B | $3.0B | $2.7B |
| Total liabilities | $3.7B | $3.5B | $3.2B | $2.7B | $2.4B |
| Total debt | $252.1M | $320.0M | $330.9M | $456.8M | $413.5M |
| Stockholders' equity | $371.6M | $328.6M | $289.6M | $260.6M | $232.4M |
| Cash Flow Statement | |||||
| Cash from operations | $61.7M | $57.5M | $52.3M | $38.6M | $36.0M |
| Depreciation and amortization | $3.8M | $3.7M | $3.6M | $4.1M | $3.6M |
| Stock-based compensation | $2.8M | $2.8M | $3.0M | $2.6M | $2.5M |
| Capital expenditure | $595,000 | $223,000 | $2.9M | $3.2M | $391,000 |
| Free cash flow | $61.1M | $57.3M | $49.4M | $35.4M | $35.6M |
| Dividends paid | $9.7M | $8.3M | $7.6M | $6.7M | $6.2M |
| Share repurchases | $1.4M | $1.3M | $3.0M | $6.1M | $5.5M |
| Impairments | — | — | — | — | $63,000 |
Shares outstanding 8.4M · Free float 91.5%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.