Overview

* First Business Q3 net income rises to $14.2 mln, driven by loan and deposit growth

* EPS for Q3 increases to $1.70 from $1.24 yr/yr

Outlook

* Company did not provide specific guidance for future quarters in press release

Result Drivers

* LOAN AND DEPOSIT GROWTH - Co attributes Q3 earnings increase to 10% loan growth and 9% core deposit growth

* RECORD FEE INCOME - Co reports record pre-tax, pre-provision earnings driven by record fee income

* ASSET QUALITY IMPROVEMENT - Co notes 18% reduction in non-performing assets contributing to improved asset quality

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $44.29

Operatin mln

g

Revenue

Q3 EPS $1.70

Q3 Net $34.88

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for First Business Financial Services Inc ( FBIZ ) is $59.00, about 16% above its October 29 closing price of $49.58

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)