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Regional Midwest Banks

First Business Financial Services, Inc. (NASDAQ: FBiz) is a financial holding company that offers personalized financial services to business owners, entrepreneurs, and high net worth individuals. Here are some key points to know about the company's financials, growth, and earnings:

1. Revenue: As of December 31, 23, First Business Financial Services had total assets worth $2.34 billion, total loans of $1.36 billion, and total deposits of $1.73 billion. In the final quarter of 2022, the company's net interest income was $12.4 million, up 39.4% year over year.

2. Net Income: In the fourth quarter of 2022, First Business Financial Services had a net income of dollar 5.4 million and earnings per share of $0.64. During the same quarter of the previous year, the company had a net income of $3.4 million and earnings per share of $0.40.

3. Loan Growth: First Business Financial Services' loans grew by 25.5% year over year in the fourth quarter of 2022, with commercial loans making up 83.5% of the loan portfolio.

4. Provision for Credit Losses: In the fourth quarter of 2022, the provision for credit losses increased by $1.6 million to $1.7 million, primarily due to loan growth.

5. Deposit Growth: Deposits increased by 30.7% in 2022, driven by growth in checking accounts and CDs. Non-interest bearing deposits made up 43% of total deposits, and the loan-to-deposit ratio was 76.5%.

6. Capital Ratios: As of December 31, 2022, the company's capital ratios exceeded regulatory requirements. The company's tangible book value per share was $29.68, and the dividend payout ratio was 43.65%.

7. Earnings per Share: The company's earnings per share for the fourth quarter of 2022 were $0.64, up from $0.40 in the same period of the previous year.

8. Growth: The company's loan growth in 2022 was driven by increased lending to existing clients, expansion in the Milwaukee market, and participation in the Payroll Protection Program (PPP).

9. Guidance: The company expects continued loan and revenue growth in 2023, with a focus on maintaining strong capital ratios.

It's essential to note that past success is not a guarantee of future performance, and investing in stocks always carries risk. It's essential to conduct further independent research and consider other factors before making an investment decision.