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.