First Business Bank

What First Business Bank does

First Business Bank (NASDAQ: FBIZ, via its holding company First Business Financial Services, Inc.) is a Madison, Wisconsin-based business-focused bank founded in 1990, operating four full-service banking locations in Wisconsin and Kansas City plus a national specialty finance distribution platform. The bank serves middle-market business owners, high-net-worth individuals and families, and other community financial institutions, with no retail deposit consumer orientation. Products are organized into four pillars: Business Banking (commercial banking, treasury management, commercial lending, company retirement plans), Specialty Finance (equipment finance, asset-based lending, accounts receivable financing, floorplan financing) delivered through the First Business Specialty Finance, LLC subsidiary, Private Wealth (financial planning, investment management, trust and estate administration, private banking, and brokerage through LPL Financial), and Bank Consulting (investment portfolio services, asset-liability management powered by Plansmith Financial Compass, and ALM process validation) for other financial institutions.

The technology platform combines a digital business banking portal with iOS/Android mobile apps (check deposit, ACH/wire approvals, bill pay), a treasury management suite covering receivables, payables, fraud prevention, and international banking, and the Plansmith Financial Compass-powered ALM modeling tool used both internally and for consulting clients. Revenue is generated primarily through net interest income on commercial loans (term loans, lines of credit, CRE, mezzanine) and through fee streams — specialty finance transaction fees, private wealth management fees, bank consulting professional services fees, and brokerage commissions via the LPL Financial referral arrangement. The bank employs 251-500 staff and reports a 97% client satisfaction rating with NPS three times the industry average.

Go-to-market is relationship-led and direct: specialty finance and bank consulting operate as enterprise field-sales teams serving middle-market companies and financial institutions nationwide, while commercial banking and private wealth are delivered through dedicated advisors at the regional branch locations. The bank emphasizes industry-specialized practice groups (healthcare, manufacturing, CRE, technology, logistics) and a "fewer clients, deeper relationships" model. As of Q1 2026, the bank reported $3.38B in total loans (+8.4% YoY), $2.67B in core deposits (+11.5% YoY), $44.29M in quarterly revenue (+8.46% YoY), $1.44 EPS (beating $1.42 estimates), 15% annualized loan growth, 18% sequential core deposit growth, and nearly 16% fee income growth, with leadership transitioning in April 2026 as David Seiler succeeded Corey Chambas as CEO.

Name

First Business Bank

Legal name

First Business Bank

Website

https://firstbusiness.bank

Company type

Public

Founded year

1990

Operating status

Operating

Headcount range

251–500 employees

Short description

First Business Bank is a Madison, Wisconsin-based business-focused bank (NASDAQ: FBIZ) serving middle-market companies, high-net-worth individuals, and community financial institutions through commercial banking, specialty finance, private wealth, and bank consulting services across the Midwest and nationally.

Ownership category

akta.pro rank

Product category

Commercial Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Portfolio Management and Investment Advice (523940), Offices of Bank Holding Companies (551111)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), Private Banking Business Owners & Entrepreneur Solutions (Liquidity Events, Pre-IPO) (FSABADAK), Bank-Affiliated Retail Wealth Management (FSAAAAAB), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Business banking services
• Commercial lending
• Specialty finance solutions
• Private wealth management
• Bank consulting services

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Commercial Lending: Primary revenue from interest income on commercial loans including term loans, lines of credit, commercial real estate loans, and mezzanine financing.
2. Specialty Finance Fees: Fees from Equipment Finance, Asset-Based Lending, Accounts Receivable Financing (factoring), and Floorplan Financing services for middle-market companies.
3. Private Wealth Management: Revenue from financial planning, investment management, trust and estate administration, and private banking services for high-net-worth individuals.
4. Bank Consulting Fees: Consulting fees from investment portfolio services, ALM modeling, and process validation for other financial institutions.
5. Brokerage Services through LPL Financial: Securities and advisory services offered through partnership with LPL Financial.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

First Business Bank is a business-focused financial institution that delivers commercial banking (depository services, treasury management, commercial lending, company retirement plans) and specialty finance (equipment finance, asset-based lending, accounts receivable financing, floorplan financing) to middle-market business owners. It also provides private wealth services (financial planning, investment management, trust and estate administration, private banking, brokerage via LPL Financial) to high-net-worth individuals, and bank consulting services (investment portfolio services, asset liability management using Plansmith Financial Compass, and ALM process validation) to financial institutions nationally.

Product overview

First Business Bank is a business-focused bank (NASDAQ: FBIZ) offering a unified platform of business banking, private wealth, specialty finance, and bank consulting services. The core Business Banking division provides Commercial Banking (Treasury Management, Commercial Lending, Company Retirement Plans), while First Business Specialty Finance LLC delivers Equipment Finance, Asset-Based Lending, Accounts Receivable Financing, and Floorplan Financing. Private Wealth encompasses Financial Planning, Investment Management, Trust & Estate Administration, Private Banking, and Brokerage Services (via LPL Financial partnership). Bank Consulting serves other financial institutions with Investment Portfolio Services, Asset Liability Management (powered by Plansmith Financial Compass), and ALM Process Validation. A digital layer includes Business Online Banking and mobile applications. The bank operates with fewer branches than traditional banks, focusing exclusively on business and high-net-worth clients through specialized industry expertise.

Differentiator

Problem solved

Functional benefit

Brands

• First Business Bank Specialty Finance: Specialty finance subsidiary offering Equipment Finance, Asset-Based Lending, Accounts Receivable Financing, and Floorplan Financing solutions
• Bank Consulting

Products and services

• Business Banking Comprehensive business banking solutions encompassing traditional commercial banking and alternative specialty finance options for business-minded leaders, covering cash flow management, risk mitigation, and strategic investing.
• Commercial Banking Business banking solutions providing depository services, credit advances, and commercial lending with a focus on serving as a financial expert and partner for middle-market companies.
• Treasury Management Tech-enabled treasury management covering cash flow management, payment services, risk mitigation, investment planning, receivables, payables, fraud prevention, and international banking for businesses with specialized treasury needs.
• Commercial Lending Commercial lending services including lines of credit, draw notes, term loans, commercial real estate loans, mezzanine financing, standby letters of credit, documentary letters of credit, business credit cards, and SBA lending.
• Company Retirement Plans Company retirement plan solutions with transparent pricing, expert guidance, and employee education designed to help maximize savings and provide retirement security for employees.
• Specialty Finance Specialty financing solutions delivered through First Business Specialty Finance LLC for middle-market companies nationwide, including equipment financing, asset-based lending, accounts receivable financing, and floorplan financing.
• Equipment Finance Equipment financing services for businesses to acquire, lease, or finance equipment through loan financing and leasing agreements with quick 2-hour application decisions.
• Asset-Based Lending Asset-based lending leveraging business collateral such as accounts receivable, inventory, equipment, and real estate to provide capital for growth, turnaround, acquisition, or restructuring situations.
• Accounts Receivable Financing Accounts receivable funding including factoring (90% advance on invoice value within 24 hours), ledgered line financing, and inventory and equipment financing for amounts from $100,000 to $20,000,000.
• Floorplan Financing Bank floorplan financing for independent car dealerships providing inventory funding with competitive pricing and concierge service for dealers needing $1 million to $20 million+ floorplan lines.
• Private Wealth Private wealth services focused on protecting the long-term health of a family's financial future through comprehensive financial planning, investment management, trust administration, and private banking.
• Financial Planning Services Strategic financial planning covering retirement savings, borrowing strategies, retirement income, investment success, business exit planning, health and security, wealth transfer, and philanthropic services.
• Investment Management Personalized investment management portfolios built on client relationships, incorporating goal-driven strategy, financial market expertise, and tailored asset allocation.
• Trust & Estate Administration Trust and estate administration services including revocable living trusts, special needs trusts, IRA trust administration, guardianships, estate planning, estate settlement, and charitable trusts.
• Private Banking High-level private banking with dedicated personal financial representatives, priority assessment, wealth action plans, and flexible account options for high-net-worth clients.
• Brokerage Services Securities and advisory services offered in partnership with LPL Financial, providing access to industry-leading tools, technology, and resources for investment strategies.
• Bank Consulting Consulting services for financial institutions covering balance sheet management, ALM modeling, investment portfolio services, and asset-liability management with over $3.2 billion in assets under advisement.
• Investment Portfolio Services Investment portfolio management services for banks including investment management, subsidiary management in Nevada, general ledger processing, and bond accounting and safekeeping.
• Asset Liability Management (ALM) Comprehensive ALM modeling solutions powered by Plansmith Financial Compass covering interest rate risk measurement, ALM process review, investment portfolio analysis, and strategy implementation for financial institutions.
• ALM Process Validation Independent ALM process review services including ALM policy review, bank governance and risk assessment, model controls and assumptions evaluation, and strategic analysis for financial institutions.
• Business Online Banking Digital banking platform providing business account access, remote deposit, bill pay, ACH transfers, wire approvals, and mobile app access for business financial management.
• Business Online Banking Mobile App Mobile banking application (First Business Bank — Business) for iPhone and Android enabling balance checks, deposit history, check deposits, bill payments, transfers, and transaction approvals on the go.

Quantifiable outcome

• 97% client satisfaction rating
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• LPL FinancialcoreChannel Partner/ Reseller/ DistributorPartnership with LPL Financial to provide brokerage services including securities and advisory services. First Business Bank refers clients to LPL while LPL provides the infrastructure for securities transactions.
• Aldine CapitalminorStrategic or Co-development PartnerStrategic business partner for mezzanine financing services, providing highly convertible mezzanine financing loans to leverage client assets for growth.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Cullen/Frost Bankers: Texas-based bank holding company (NYSE: CFR) known for relationship-driven commercial banking with strong middle-market and treasury management focus. Comparable premium-pricing relationship banking approach and high client satisfaction orientation.
• Associated Banc-Corp: Wisconsin-based regional bank holding company (NYSE: ASB) with commercial banking, wealth management, and specialty lending. Direct geographic overlap in Wisconsin and similar middle-market commercial banking focus and scale.
• Wintrust Financial Corporation: Chicago-based bank holding company (NASDAQ: WTFC) focused on business banking, specialty finance (including equipment finance and ABL through subsidiaries), and wealth management. Highly comparable middle-market commercial banking model with community bank roots and specialty lending subsidiaries.
• Pinnacle Financial Partners: Tennessee-based bank holding company (NASDAQ: PNFP) with a middle-market commercial banking franchise, commercial lending focus, and wealth management. Similar relationship-based business banking model targeting commercial clients with treasury management services.
• CVB Financial Corp: California-based bank holding company (NASDAQ: CVBF) operating Citizens Business Bank, focused on business banking, commercial lending, and treasury management for middle-market businesses and municipalities. Comparable business-owner-focused model with comprehensive financial services.
• TowneBank: Virginia-based community bank holding company (NASDAQ: TOWN) with commercial banking, mortgage, and wealth management. Similar relationship-driven business banking focus, comparable scale, and emphasis on client satisfaction metrics.
• United Community Banks: Southeast-focused community bank holding company (NASDAQ: UCBI) with commercial banking and specialty lending services targeting middle-market businesses. Similar relationship-driven business banking approach at comparable scale.

Broad incumbents

• Commerce Bancshares: Midwest-based bank holding company (NASDAQ: CBSH) providing commercial banking, wealth management, and treasury services to businesses. Larger scale but similar commercial banking focus and Midwestern geographic exposure.
• Trustmark Corporation: Mississippi-based regional bank holding company (NASDAQ: TRMK) providing commercial banking, wealth management, and insurance. Similar commercial banking and wealth management exposure with comparable middle-market client focus.
• First Citizens BancShares (CIT Group): Bank holding company (NASDAQ: FCNCA) that acquired CIT Group, with significant specialty finance presence in equipment finance, ABL, and factoring. Comparable specialty finance vertical through First Business Specialty Finance and similar middle-market lending focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@firstbusinessbank
• Facebookfacebook.com/FirstBusinessBank
• LinkedInlinkedin.com/company/FirstBusinessBank
• Instagraminstagram.com/firstbusinessbank
• Xx.com/1stBusinessBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Business Bank