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First Business Financial Services (FBIZ) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · First Business Financial Services (FBIZ) Q3 2026 earnings results →

Q3 2026 Revenue up 7% year over year to $47.5M · 35¢ of every $1 of revenue kept as net profit · operating margin 41.0%

First Business Financial Services made $47.5M in Q3 2026 (+7% Y/Y): Net interest income $39.1M, Noninterest income $8.4M. Operating margin 41.0%, net earnings $16.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.

Revenue$47.5M
Year over year+7%
Operating margin41.0%
Net earnings$16.6M
Operating cash flow$5.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $47.5M in Q3 2026, up 7% year over year and up 2% from the previous quarter. Net interest income was the largest line at 82% of revenue. Net interest income added $4.2M year over year (up 12%), 141% of the total change. Noninterest income declined 13%.

Operating profit was $19.5M, a 41.0% margin (up 1.9 points year over year). Of the extra revenue versus a year earlier, 70% reached operating profit, above the 39% margin then. Total costs grew 3% against revenue growth of 7%. The fastest-growing cost line was Credit loss provision (+35%). Net earnings were $16.6M, up 15% year over year. The effective tax rate was 14.8%.

Operating cash flow was $5.5M (down 70% year over year), 33% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $707K of share-based compensation. Working capital and other items used $12.8M. Capital expenditures of $300K left free cash flow of $5.2M.

Quarterly history

QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 30, 2026$47.5M+7%41.0%$16.6M$5.5M

Charts

First Business Financial Services: where the cash came from (+) and went (−), TTM to Q3 2026First Business Financial Services: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$343MOther financing$337MOperating cash flow$68.5MCash drawn (+) / kept (−)−$47.9MDividends−$11.1MBuybacks−$2.6MCapital spending−$638KAsset & business sales$42K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
First Business Financial Services: profit against cash, quarter by quarterFirst Business Financial Services: profit against cash, quarter by quarterNet incomeOperating cash flow$14.4M$22.0MQ4 2024$11.2M$11.3MQ1 2025$11.4M$15.8MQ2 2025$14.4M$18.4MQ3 2025$13.3M$16.1MQ4 2025$12.2M$3.1MQ1 2026$15.6M$43.8MQ2 2026$16.6M$5.5MQ3 2026
Latest (Q3 2026): Net income $16.6M, Operating cash flow $5.5M.
First Business Financial Services: diluted shares by fiscal yearFirst Business Financial Services: diluted shares by fiscal year8MFY20208MFY20218MFY20228MFY20238MFY20248MFY2025
-2.7% since FY2020: buybacks shrank the count.
First Business Financial Services: long-term debt falling due (FY2025)First Business Financial Services: long-term debt falling due (FY2025)$125M2026$10.0M2027$10.4M2028$23.9M2029$20.0M2030$62.4MLater
Cash $39.5M, short-term investments —, long-term debt — at 2025-12-31.
First Business Financial Services in its industry: growth against margin (133 companies, SIC 6022)First Business Financial Services in its industry: growth against margin (133 companies, SIC 6022)revenue growth, year over year →↑ operating marginmedian +9%median 40%BNYSTTFITBMTBFCNCAALLYCFGNTRSWALBPOPEWBCWTFCCOLBSSBCBSHASBHWCAUBGBCIUBSIABCBHTHHOMBUCBRNSTFBPCATYFIBKCUBIFHBIBOCMBINSBCFBOHCVBFBUSEEFSCOFGLOBFBKFFINSFBSMCHBCCBFBNCGABCBYSYBTPEBOTCBKOBKSTBAFMBHRBCAACNOBAMALMCBQCRHOSBCFMNBBFSTUVSPTMPCCNEMSBIHBTEQBKCTBICPFTHFFMPBSBSIMBWMLKFNIBCPEGBNSPFIWASHCCBGCOFSCWBCHBIAACNBGSBCFSBCTRSTCIVBFCBCMCBSINBKBWBCBANMVBFBSRRCZNCCFFIRBBISTRUNTYBWFGBMRCRRBIPCBFCBMCHMGCZFSNWFLWTBAMYFWAVBHOPBKUSCBFCCOEBMTCOSOFXNCPKBKISBAPEBKBPRNBRBSHNVRMNSBFVCBCCFNSBFGJMSBBOTJNWPPFUSBAUBNJUVFFBIZ (+7%, 41%)
State Commercial Banks; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About First Business Financial Services

First Business Bank ® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC ® . First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc ® . (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank.

In its own words, from its 8-K, filed Jul 30, 2026.

First Business Financial Services against its State Commercial Banks peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +10%. Operating margin: 41.0% against the peers' median 34.7%.

CompanyQuarterRevenueY/YOp. margin
FBIZ First Business Financial ServicesQ3 2026$47.5M+7%41.0%
BNY Bank of New York MellonQ3 2026$5.7B+12%38.5%
STT State StreetQ3 2026$4.0B+13%34.7%
FITB Fifth Third BancorpQ3 2026$3.3B+42%33.8%
MTB M&T BankQ3 2026$2.5B+0.9%39.7%
FCNCA First Citizens BancsharesQ3 2026$2.4B0%33.1%
ALLY Ally FinancialQ3 2026$2.3B+8%24.3%
CFG Citizens Financial GroupQ3 2026$2.3B+10%34.6%
NTRS Northern TrustQ3 2026$2.3B+13%34.7%

Source: First Business Financial Services 10-Q on SEC EDGAR · CIK 1521951 · State Commercial Banks

Guidance and outlook

First Business Financial Services: what its forward-looking statements are about (10-Q filed 2026-10-30)First Business Financial Services: what its forward-looking statements are about (10-Q filed 2026-10-30)Other10Financing4Tax1Demand1Buybacks & dividends1
17 statements; tone +0.18 (−1 all cautious, +1 all confident); 3 hedged.
First Business Financial Services: outlook statements against the filing beforeFirst Business Financial Services: outlook statements against the filing beforeConfident6Cautious3

13F: who owns FBIZ and who is buying

Largest holders of FBIZ (13F)Largest holders of FBIZ (13F)BlackRock$58.6MDimensional Fund Advisors LP$31.5MVanguard Group$26.1MFirst Business Financial Services$22.5MVanguard Capital Management LLC$21.7MAmerican Century Companies$17.2MManufacturers Life Insurance Comp…$15.4MGeode Capital Management, LLC$13.6MState Street$11.8MBanc Funds Co LLC$10.3M
Funds' net buying of FBIZ by quarter (13F)Funds' net buying of FBIZ by quarter (13F)−$1.9M2024-09−$4.6M2024-12$3.0M2025-03$3.1M2025-06$421K2025-09$2.0M2025-12−$89K2026-03$9.8M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FBIZ

History

Every quarter: Q3 2026 results

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中文版：First Business Financial Services（FBIZ）财报

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