First Business Financial Services Inc., parent company of First Business Bank, announced it was selected by Piper Sandler for inclusion among its Sm-All Stars Class of 2023.
The annual analysis, which ranks performance of banks with a market cap below $2.5 billion, involves selection criteria related to growth, profitability, credit quality, and strength of capital. As one of only 31 small-cap banks in the country named to the Sm-All Stars Class of 2023, the selection places First Business Financial Services Inc. among the top 10% in the industry on those performance metrics. First Business Financial Services Inc. also was selected as a Sm-All Star in 2021 and 2013.
It was recognized by Piper Sandler for its performance over the 12 months ending June 30, on key metrics including:
- Earnings per share growth of 1.6%;
- Loan growth of 16.8%;
- Deposit growth of 35.3%;
- Return on average equity of 14.66%;
- Ratio of nonperforming assets to loans and other real estate owned of 0.59%;
- Ratio of net charge offs to average loans of 0.03%; and
- Ratio of tangible common equity to tangible assets (TA) of 7.7%.
