November 11, 2004

First Business Financial Services, Inc. Announces 2004 Milestones and Plans for Future Growth

MADISON, August 11, 2004 - First Business Financial Services, Inc. announced plans to file as a public company with the Securities and Exchange Commission.

In addition, the company reported net income of $1.9 Million for the first half of 2004. This was an increase of $67 Thousand over earnings reported as of June 30, 2003. Fully diluted earnings per share for the first half of 2004 was $0.78. The comparable period for 2003 showed earnings per share of $0.86. Total assets for the company on June 30 were $541.3 Million, an increase of 7% or $34.7 Million from June 30, 2003. ROA for this period was .72%. ROE was 13.2%.

As released in June, the Board of Directors of First Business Financial Services, Inc. declared a semiannual dividend of $.10 per share to shareholders of record on July 1, 2004, payable on July 15, 2004. First Business Financial Services, Inc. shareholders received a total of $.20 per share in 2004, a 33% increase over prior years’ annual dividends.

These milestones and plans for future growth were discussed at the company’s annual shareholder meeting, which was held Monday, August 9th at Bishops Bay Country Club.
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.

Contact:
Jodie Johnson
Assistant Vice President - Marketing
First Business Financial Services, Inc.
(608) 232-5910
Email