MADISON, Wis., April 29, 2008 (PRIME NEWSWIRE) -- First Business Financial Services, Inc. (Nasdaq:FBIZ) reported net income of $770 thousand for the first quarter of 2008, an increase of $171 thousand, or 28.5%, from the first quarter of 2007. Diluted earnings per share for the quarter ended March 31, 2008 were $0.32 compared to $0.24 reported for the same period in 2007, an increase of 33.3%.
The Corporation’s total assets reached $958.5 million at March 31, 2008, an increase of $157.5 million, or 19.7%, from March 31, 2007. Net loans and leases, which totaled $811.7 million as of the end of the quarter, grew $155.0 million, or 23.6%, year-over-year.
A complete copy of the Corporation’s Quarterly Report on Form 10-Q for the period ending March 31, 2008 and all other reports filed by the Corporation with the SEC may be accessed through the Corporation’s website
Chief Executive Officer Corey Chambas commented, "Asset growth, specifically growth in loans and leases, continues to be very strong. We are committed to improving our net income and return on equity by further leveraging the existing business development and support team. We intend to maintain our sales and marketing efforts to continue this growth pattern."