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First Business Financial Services posts 4Q profit

MADISON, Wis. (AP) _ First Business Financial Services Inc. (FBIZ) on Thursday reported fourth-quarter profit of $4 million.

The Madison, Wisconsin-based bank said it had earnings of 46 cents per share. Earnings, adjusted for pretax gains, came to 45 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The bank holding company for First Business Bank and First Business Bank-Milwaukee posted revenue of $23 million in the period. Its adjusted revenue was $18.9 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $19.7 million.

For the year, the company reported profit of $11.9 million, or $1.36 per share. Revenue was reported as $77.3 million.

First Business Financial Services shares have climbed 2.5 percent since the beginning of the year. The stock has dropped slightly more than 6 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