First Business Financial Services, Inc. has recently released its 10-Q report. The company operates as the bank holding company for First Business Bank, offering commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri. Their services include commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, and more.
In the 10-Q report, the company reported a net income available to common shareholders of $11.2 million for the three months ended June 30, 2025, compared to $10.2 million for the same period in 2024. The annualized return on average assets for the three months ended June 30, 2025, measured 1.14%, compared to 1.14% for the same period in 2024. The return on average tangible common equity was 14.17% for the three months ended June 30, 2025, compared to 14.73% for the same period in 2024.
Additionally, the company reported an increase in total assets to $4.003 billion at June 30, 2025, from $3.853 billion at December 31, 2024. The period-end gross loans and leases receivable increased to $3.252 billion as of June 30, 2025, compared to $3.114 billion as of December 31, 2024. Non-performing assets were $28.7 million and 0.72% of total assets as of June 30, 2025, compared to $28.4 million and 0.74% of total assets as of December 31, 2024.
The company's top line revenue, consisting of net interest income and non-interest income, increased by $3.1 million, or 8.1%, for the three months ended June 30, 2025, compared to the same period in 2024. The annualized return on average assets for the three months ended June 30, 2025, was 1.14%, compared to 1.14% for the same period in 2024.
Efficiency ratio measured 61.0% and 60.6% for the three and six months ended June 30, 2025, compared to 62.7% and 63.2% for the three and six months ended June 30, 2024. The percentage increase in top line revenue exceeded the percentage increase in operating expenses, resulting in positive quarterly operating leverage. Revenue increased for the reasons stated above in the Top Line Revenue section, while operating expenses increased at a slower rate in the periods of comparison.
These figures demonstrate the company's financial performance and provide insight into its operations and growth over the reported period. As a result of these announcements, the company's shares have moved -5.67% on the market, and are now trading at a price of $48.59. For more information, read the company's full 10-Q submission here.
