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First Business Bank

Madison, WI · Cert 15229 · First Bus Finl Services Inc.

State charter, non-member · FDIC · 4 branches

Q2 2026

$4.4BAssets
$3.6BLoans
$3.6BDeposits
$448.6MEquity
Loan mix
61%RE $2.0B39%C&I $1.3B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
88%Interest-bearing $3.2B12%Noninterest $0.4BQ2 2025Q2 2026

NIM

6.39%Q2 ’246.21%Q2 ’256.04%Q2 ’26+2%+3%

Non-interest income vs. expense

2.64%Q2 ’242.50%Q2 ’252.58%Q2 ’260%-1%

Market Position · Madison, WI · 2026 SOD (annual) · 9.5% share · #3 of 41 inst. · $2.9B of $30.1B

10.9% Dane
2.6% Waukesha
0.6% Johnson
2.2% Outagamie

Executive Summary

  • Earnings: ROA of 1.52%, up 27 bps year over year; NIM at 3.63%.
  • Asset quality: problem loans at 1.06% of loans (+18 bps YoY), with net charge-offs at 0.12%.
  • Capital: tier 1 leverage ratio of 10.37%, up 21 bps from a year ago.
  • Funding: loans stand at 99.72% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

1.52%+27 bps YoY

Net Interest Margin (quarter, annualized)

3.63%+11 bps YoY

Efficiency Ratio (quarter, annualized)

57.81%-112 bps YoY

Tier 1 Leverage Ratio

10.37%+21 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.25%1.55%1.35%1.29%1.52%+27 bps
Return on Equity12.61%15.41%13.10%12.72%15.09%+247 bps
Net Interest Margin3.52%3.54%3.41%3.44%3.63%+11 bps
Efficiency Ratio58.93%55.37%56.17%58.37%57.81%-112 bps
Non-Interest Burden1.77%1.53%1.55%1.65%1.75%-2 bps
Growth
Asset Growth (YoY)10.69%8.60%5.93%9.53%10.13%-55 bps
Loan Growth (YoY)9.14%9.49%8.49%10.26%9.81%+67 bps
Deposit Growth (YoY)14.65%12.03%8.63%10.05%8.64%-601 bps
Asset Quality
Nonperforming Loans / Loans0.88%0.70%1.29%1.15%1.06%+18 bps
Net Charge-Offs / Loans0.12%0.15%0.30%0.25%0.12%-1 bps
Allowance / Loans1.13%1.10%1.06%1.04%1.04%-9 bps
Allowance Coverage of NPLs1.3x1.6x0.8x0.9x1.0x-0.3x
Capital
Tier 1 Leverage Ratio10.16%10.18%10.11%10.16%10.37%+21 bps
Total Risk-Based Capital12.19%12.12%12.16%12.04%12.18%-1 bps
Equity / Assets9.93%10.18%10.37%9.97%10.17%+25 bps
Liquidity & Funding
Loans / Deposits98.65%100.40%100.31%98.62%99.72%+106 bps
Liquid Assets / Assets1.95%0.34%0.34%2.53%3.08%+113 bps
CRE / Total Capitaln/a459%457%461%n/an/a