First Business Financial Services, Inc. Named Piper Sandler Sm-All Star For Third Consecutive Year: One Of Only 24 Elite Institutions Selected Nationwide

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 2025. This marks the fifth time First Business Financial Services, Inc. has received this honor, with previous recognition in 2013, 2021, 2023, and 2024—achieving this distinction for three consecutive years.

First Business Financial Services, Inc. stands out among the 24 institutions selected for 2025 by outperforming the group medians across all key performance metrics. The only Wisconsin-headquartered institution recognized on this year’s list, the company is one of only three institutions on the 2025 list to earn a Sm-All Stars inclusion five times or more, and one of only two institutions to achieve it three consecutive years. First Business Financial Services, Inc., ranked sixth nationally among these 24 elite institutions, demonstrating strong execution across every measure.

“Earning Piper Sandler Sm-All Stars recognition for the third year in a row shows not only the strength but also highlights the consistency of our approach,” said Corey Chambas, CEO of First Business Financial Services, Inc. “This recognition is particularly meaningful because it validates our specialized focus and disciplined execution. Our results continue to place us among the top performers in the industry.”

“This recognition is a reflection of our entire team and the culture we’ve built together,” said Dave Seiler, President & COO of First Business Financial Services, Inc. “Our collaborative team prioritizes our clients’ needs to consistently deliver results that outpace industry benchmarks, demonstrating the value of our client-focused approach.”

The 2025 class represents the most selective group in recent years, with only 24 institutions chosen compared to 30 in 2024. First Business Financial Services, Inc. is one of only six banks in the Midwest to earn recognition.

Piper Sandler’s rigorous analysis eliminated 292 institutions, or 92% of publicly traded banks and thrifts, to identify the final 24. This places First Business Financial Services, Inc. among the top 8% of all institutions evaluated. The screening methodology evaluated market capitalizations below $2.5 billion against stringent criteria for growth, profitability, credit quality, and capital strength.

First Business Financial Services, Inc. was recognized by Piper Sandler for its performance on key metrics over the 12 months ended June 30, 2025, including: