First Business Financial Services, Inc. Announces Quarterly Results
MADISON, WI -- (MARKET WIRE) -- 11/22/05 -- First Business Financial Services, Inc. (the "Company") (NASDAQ: FBIZ) announced today net income for the quarter ended September 30, 2005 of $916 thousand, or $0.37 per diluted share, compared with net income of $717 thousand, or $0.29 per diluted share, for the same quarter in 2004. The growth in net income and diluted earnings per share represented an increase of 28% over the comparable period last year.
For the nine months ended September 30, 2005, the Company reported net income of $3.7 million, or $1.49 per diluted share, compared with net income of $3.1 million, or $1.37 per diluted share, for the comparable period last year.
The Company’s total assets ended the third quarter of 2005 at $628.9 million, an annualized increase of 15.6% over the $563.0 million in total assets recorded at December 31, 2004. Net loans and leases at September 30, 2005 were $501.5 million, up an annualized 9.0% over the $469.8 million in net loans at December 31, 2005.