First Business Financial Services Full Year 2023 Earnings: In Line With Expectations

First Business Financial Services, Inc. +3.37%

First Business Financial Services, Inc.

FBIZ

34.66

+3.37%

First Business Financial Services (NASDAQ:FBIZ) Full Year 2023 Results

Key Financial Results

  • Revenue: US$135.7m (up 3.0% from FY 2022).
  • Net income: US$36.2m (down 7.5% from FY 2022).
  • Profit margin: 27% (down from 30% in FY 2022). The decrease in margin was driven by higher expenses.
  • EPS: US$4.45 (down from US$4.75 in FY 2022).

FBIZ Banking Performance Indicators

  • Net interest margin (NIM): 3.78% (down from 3.82% in FY 2022).
  • Cost-to-income ratio: 61.0% (down from 62.3% in FY 2022).
  • Non-performing loans: 0.72% (up from 0.15% in FY 2022).
revenue-and-expenses-breakdown
NasdaqGS:FBIZ Revenue and Expenses Breakdown January 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

First Business Financial Services Earnings Insights

In the last 12 months, the only revenue segment was Commercial Banking contributing US$135.7m. The largest operating expense was General & Administrative costs, amounting to US$78.9m (79% of total expenses). Explore how FBIZ's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of First Business Financial Services' balance sheet and an in-depth analysis of the company's financial position.

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