First Business Bank caps record year

Madison-based First Business Financial Services Inc., the parent company of First Business Bank and First Business Bank-Milwaukee, reported record full year 2011 net income of $8.4 million.

The company continued to increase its top line revenue, reduce its level of non-performing assets and improve its operating efficiency.

The company recorded fourth quarter 2011 net income of $2.4 million, or 90 cents per share, up from $598,000, or 24 cents per share, in the same period a year ago.

“In 2011 we executed on our strategic goals, delivering record earnings and significant growth in top line revenue and in-market deposits,” said Corey Chambas, president and chief executive officer. “We achieved important efficiency gains and meaningful improvement in asset quality. We are confident our consistent and proven approach to building value has placed First Business in a very strong position for continued success in 2012.”