First Business Acquires the Parent Company of Alterra Bank, Expanding its Entrepreneurial Business Banking Model into the Attractive Kansas City Market
First Business Closes Acquisition of Aslin Group, Inc., the Parent Company of Alterra Bank,
Entering Attractive Kansas City Market
MADISON, Wisconsin, November 3, 2014 (GLOBE NEWSWIRE) - Effective November 1, 2014, First Business Financial
Services, Inc. (the "Company" or "First Business") (NASDAQ:FBIZ) closed its previously announced acquisition of Leawood,
Kansas-based Aslin Group, Inc. ("Aslin Group"), including Alterra Bank ("Alterra"), Aslin Group's wholly-owned subsidiary.
With combined assets of exceeding $1.6 billion, loans of $1.2 billion and deposits totaling $1.5 billion, First Business now
offers sophisticated services to businesses and high net worth individuals across an expanded Midwest market.
First Business to Acquire the Parent Company of Alterra Bank
MADISON, Wisconsin and LEAWOOD, Kansas, May 23, 2014 (GLOBE NEWSWIRE) - First Business Financial Services, Inc. (NASDAQ:FBIZ) and Aslin Group, Inc. announced the signing of a definitive agreement for First Business to acquire Aslin Group, including Alterra Bank, Aslin Group's wholly owned subsidiary. The cash-and-stock transaction is valued at an estimated $30.1 million.
Together, First Business and Alterra have approximately $1.5 billion in assets. Alterra's competitive position, talented team, focus on commercial clients and complementary limited branch business model will expand the Wisconsin-based First Business' growth into the attractive Kansas City metropolitan market, where First Business already operates its national equipment finance business.
Executives from First Business hosted a conference call with investors and the financial community to discuss this transaction. Investors may listen to the webcast via the Internet at: http://www.videonewswire.com/event.asp?id=99514. A webcast of the conference call will be available on this site for one full year.
First Business Financial Services, Inc.
David R. Papritz
Chief Financial Officer &
Senior Vice President - Corporate Development