First Business Bank: First Business Financial Services, Inc. Earns Prestigious Piper Sandler 2024 Sm-All Stars Recognition
First Business Financial Services, Inc., (Nasdaq: FBIZ), the parent company of First Business Bank, proudly announces its selection by Piper Sandler for the prestigious Sm-All Stars Class of 2024.
Piper Sandler’s annual analysis evaluates small-cap banks with market capitalizations below $2.5 billion, employing stringent selection criteria focused on growth, profitability, credit quality, and capital strength. First Business Financial Services, Inc. stands out as one of only 30 small-cap banks nationwide to earn this distinguished recognition, placing it among the top 6% of performers in the industry based on these critical metrics.
This year marks the fourth time First Business Financial Services, Inc. has received this honor, having previously been named a Sm-All Star in 2013, 2021, and 2023, placing First Business Financial Services, Inc. among an elite group on this year’s Sm-All Stars list. Out of 30 banks, only six this year have received this honor four or more times, highlighting the company’s consistent excellence in a competitive financial landscape.
“This recognition by Piper Sandler means a lot to us, and I’m especially proud of our employees who made it happen,” said Corey Chambas, CEO of First Business Financial Services, Inc. “Being named to the Sm-All Stars Class of 2024 reflects the grit and creativity our team brings to work every day. Our disciplined approach is paying off, even as we adapt to new tech and market shifts. It’s fulfilling to see our people repeatedly step up, turning challenges into opportunities, and doing the right thing for our clients — that’s what sets us apart.”
First Business Financial Services, Inc. was recognized by Piper Sandler for its performance on key metrics1 over the 12 months ended June 30, 2024, including:
• Earnings per share (EPS) growth of 2.9%
• Loan growth of 11.6%
• Deposit growth of 14.1%
• Return on average equity (ROAE) of 13.46%
• Ratio of nonperforming assets (NPAs) to loans and other real estate owned (OREO) of 0.64%
• Ratio of net charge offs (NCOs) to average loans of 0.11%
• Ratio of tangible common equity (TCE) to tangible assets (TA) of 7.8%
1. Source: S&P Capital IQ, Piper Sandler.
