January 29, 2004

First Business Bank Ranks High in National List of Top Community Banks

MADISON, January 29, 2004 - First Business Bank was recognized as one of the top 100 community banks nationally by American Banker in January’s "Community Banks with Largest Commercial and Industrial Loan Portfolios" report.

The study was performed by Sheshunoff Information Services, a division of Thomson Corp. All banks were ranked by commercial and industrial loan amounts outstanding on September 30, 2003. Only three other Wisconsin community banks made the top 100 list. First Business Bank was the only Madison area bank to receive this recognition.

"We are honored to be recognized among top national community banks by American Banker," stated Corey Chambas, President and CEO of First Business Bank. "In today’s era of megabanks and nationwide branching, business people find increased value in local, accessible customer service and the individual attention they receive at community banks."

About American Banker American Banker has provided vital information to banking and financial services professionals for more than 165 years. With a staff of more than 70 reporters and editors, located in six cities, American Banker is dedicated to providing information available nowhere else. Since 1980, American Banker has taken home more than 20 editorial prizes, including the Loeb Award for Distinguished Business & Financial Journalism; the Polk Award; the American Society of Business Press Editors’ National Journalism Award; the PRSA Award for Excellence in Technology Journalism; and The Jesse H. Neal Award for Best News Coverage in 2000.

About First Business Bank First Business Bank was established by business owners and investors in 1990 to specialize in quality business banking for the local business community. First Business Bank offers a full line of deposit and loan products for businesses and business owners, including cash management products, Internet banking, retirement plans/investment management services/trustee services, asset-based lending, and leasing.
About First Business Financial Services, Inc.

First Business Financial Services, Inc. (Nasdaq:FBIZ) is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives, and high net worth individuals. First Business offers commercial banking, specialty finance, and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility, and responsiveness. For additional information, visit www.firstbusiness.com or call (608) 238-8008.

The First Business Financial Services, Inc. logo is available at http://www.firstbusiness.com/logo

Forward-Looking Statements
This press release contains forward-looking statements that reflect the Corporation's plans, estimates and beliefs. When used in this press release, the words "anticipate," "believe," "estimate," "expect," "objective" and similar expressions and verbs in the future tense are intended to identify forward-looking statements. The statements contained in this press release involve or may involve certain assumptions, risks, and uncertainties, many of which are beyond the Corporation's control, which could cause actual results to differ materially from those discussed in the forward-looking statements. The forward-looking statements included in this press release are only made as of the date hereof, and the Corporation undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. In addition to the assumptions and other factors referenced specifically in connection with such statements, the factors described in "Item 1A. Risk Factors" in our Annual Report on Form 10-K and the following factors could impact the business and financial prospects of the Corporation: general economic conditions; legislative and regulatory initiatives; increased competition and other effects of deregulation and consolidation of the financial services industry; monetary and fiscal policies of the federal government; deposit flows; disintermediation; the cost and availability of funds; general market rates of interest; interest rates or investment returns on competing investments; demand for loan products; demand for financial services; changes in accounting policies or guidelines; general economic developments; acts of terrorism and developments in the war on terrorism; and changes in the quality or composition of loan and investment portfolios.

Jodie Johnson
Assisntat Vice President - Marketing
First Business Financial Services, Inc.
(608) 232-5910