First Business Financial Services (FBIZ) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - First Business Financial Services (FBIZ) reported revenue of $38.07 million for Q3 2024, a year-over-year increase of 2.8% and an EPS of $1.24, up from $1.17 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $38.8 million, resulting in a surprise of -1.88%, while the EPS exceeded expectations by 3.33% [1] Financial Performance Metrics - Efficiency ratio stood at 59.5%, better than the average estimate of 62.1% from three analysts [2] - Net Interest Margin was reported at 3.6%, matching the average estimate [2] - Net Charge-off as a percentage of average loans was 0.2%, in line with the two-analyst average estimate [2] - Total Average Interest-Earning Assets were $3.41 billion, consistent with the average estimate [2] - Total Non-Interest Income was $7.06 million, below the average estimate of $7.75 million [2] - Net Interest Income reported at $31.01 million, slightly below the average estimate of $31.06 million [2] - Service charges on deposits were $0.92 million, lower than the average estimate of $0.98 million [2] - Swap fees amounted to $0.46 million, compared to the average estimate of $0.65 million [2] - Private wealth management service fees were $3.26 million, below the average estimate of $3.76 million [2] Stock Performance - Shares of First Business Financial Services have returned +1.1% over the past month, compared to the Zacks S&P 500 composite's +1.5% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]