First Business Financial Services: 3Q Earnings Snapshot

MADISON, Wis. (AP) _ First Business Financial Services Inc. (FBIZ) on Thursday reported third-quarter net income of $5.3 million.

The Madison, Wisconsin-based bank said it had earnings of 60 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The bank holding company for First Business Bank and First Business Bank-Milwaukee posted revenue of $28.4 million in the period. Its revenue net of interest expense was $22 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $21 million.

First Business Financial Services shares have fallen roughly 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20, a drop of 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FBIZ at https://www.zacks.com/ap/FBIZ