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First Business Financial Services posts 2Q profit

MADISON, Wis. (AP) _ First Business Financial Services Inc. (FBIZ) on Thursday reported second-quarter net income of $1.9 million.

The Madison, Wisconsin-based bank said it had earnings of 22 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The bank holding company for First Business Bank and First Business Bank-Milwaukee posted revenue of $24 million in the period. Its adjusted revenue was $20.2 million, surpassing Street forecasts. Three analysts surveyed by Zacks expected $19.5 million.

First Business Financial Services shares have fallen 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.52, a fall of 7.5 percent in the last 12 months.


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


Keywords: First Business Financial Services, Earnings Report