First Business Financial Services Reports Strong Q2 Earnings and Exits National SBA Lending
First Business Financial Services (NASDAQ:FBIZ) reported second-quarter earnings of $1.84 per share, including a net benefit from one-time items. The company achieved record pre-tax, pre-provision earnings of $19.8 million in Q2 and saw an increase of 15% year-to-date through the first half of 2026. The firm announced its decision to exit national SBA 7(a) lending operations at the end of May 2026, aiming to improve profitability by aligning with internal credit standards. This move is expected to yield a $310,000 quarterly pre-tax benefit in 2027 and enhance efficiency ratios. Loan growth reached an annualized rate of 10%, while core deposits grew at 12%. The net interest margin expanded by 22 basis points to 3.78% for the quarter.
Tickers: $FBIZ
Topics: deposits financial_services loan_growth net_interest_margin