First Business Financial Services Inc (NAS:FBIZ)
$ 48.5 +0.81 (+1.7%) Market Cap: 402.64 Mil Enterprise Value: 538.21 Mil PE Ratio: 8.82 PB Ratio: 1.24 GF Score: 80/100
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Q4 2024 First Business Financial Services Inc Earnings Call Transcript

Jan 31, 2025 / 07:00 PM GMT
Release Date Price: $51.66 (+4.26%)

Key Points

Positve
  • First Business Financial Services Inc (FBIZ) reported record earnings, with a 15% increase from the third quarter and a 24% increase from Q4 2023.
  • The company achieved strong loan growth, with loan balances increasing by 10% year-over-year.
  • Total deposits grew by 11% from the previous year's fourth quarter, indicating strong deposit growth.
  • The efficiency ratio improved to its lowest level since Q4 2013, showcasing operational efficiency.
  • FBIZ's net promoter score of 70 is nearly three times the banking industry average, reflecting strong client satisfaction.
Negative
  • There was a tick-up in non-performing assets (NPAs), which the company attributes to normalization from unusually low levels in recent years.
  • The transportation sector within the equipment finance portfolio continues to show isolated weakness.
  • A $16.9 million loan to a borrower in the equipment wholesale business was moved to non-performing status during the quarter.
  • The company experienced a modest uptick in accruing past due loans due to a delayed payment from one client.
  • Swap fee income and returns on SBIC funds are expected to continue experiencing variability.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FBIZ.OQ - First Business Financial Services Inc
Q4 2024 First Business Financial Services Inc Earnings Call
Jan 31, 2025 / 07:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Welcome to the First Business Financial Services fourth quarter, 2024 earnings conference call at this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call, you require immediate assistance. Please press star zero for the operator. After today's presentation, there will be an opportunity to ask questions.

Please note that this event is being recorded.

I would now like to turn the conference over to First Business Financial Services Inc CEO Corey Chabas. Please go ahead, sir.

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