The following is a summary of the First Business Financial Services, Inc. (FBIZ) Q3 2024 Earnings Call Transcript:

Financial Performance:

• First Business Financial Services reported significant year-over-year growth in loan and deposit balances, with loan balances increasing by over 10% and deposits by nearly 12%.

• The company achieved a strong and stable net interest margin, maintaining it within the projected range of 3.60% to 3.65%.

• Notable improvements were seen in tangible book value per share and core net interest margin, indicating robust financial health.

Business Progress:

• Efforts are underway to further expand niche C&I lending areas which have shown strong growth.

• Private Wealth Management saw assets under management rise to $3.4 billion, a 17% increase, significantly contributing to fee income.

Opportunities:

• There is a strong emphasis on technological advancements such as the use of AI and robotic process automation, enhancing operational efficiency and scaling for growth.

• The strategic shift towards more stable and diversified revenue sources, including a high focus on SBA and mezzanine finance.

Risks:

• The company witnessed weaknesses in the transportation sector of the equipment finance portfolio, resulting in adjusted credit expectations and potential impact on future charge-offs.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.