First Business Financial Services Management

Management criteria checks 3/4

First Business Financial Services' CEO is Corey Chambas, appointed in Dec 2006, has a tenure of 17.92 years. total yearly compensation is $1.98M, comprised of 30.8% salary and 69.2% bonuses, including company stock and options. directly owns 1.56% of the company’s shares, worth €6.24M. The average tenure of the management team and the board of directors is 6.4 years and 6.4 years respectively.

Key information

Corey Chambas

Chief executive officer

US$2.0m

Total compensation

CEO salary percentage	30.8%
CEO tenure	17.9yrs
CEO ownership	1.6%
Management average tenure	6.4yrs
Board average tenure	6.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Corey Chambas's remuneration changed compared to First Business Financial Services's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$38m
Jun 30 2024	n/a	n/a	US$37m
Mar 31 2024	n/a	n/a	US$35m
Dec 31 2023	US$2m	US$610k	US$35m
Sep 30 2023	n/a	n/a	US$36m
Jun 30 2023	n/a	n/a	US$36m
Mar 31 2023	n/a	n/a	US$39m
Dec 31 2022	US$2m	US$560k	US$39m
Sep 30 2022	n/a	n/a	US$38m
Jun 30 2022	n/a	n/a	US$36m
Mar 31 2022	n/a	n/a	US$34m
Dec 31 2021	US$2m	US$510k	US$35m
Sep 30 2021	n/a	n/a	US$32m
Jun 30 2021	n/a	n/a	US$28m
Mar 31 2021	n/a	n/a	US$23m
Dec 31 2020	US$1m	US$490k	US$17m
Sep 30 2020	n/a	n/a	US$16m
Jun 30 2020	n/a	n/a	US$17m
Mar 31 2020	n/a	n/a	US$20m
Dec 31 2019	US$1m	US$466k	US$23m
Sep 30 2019	n/a	n/a	US$21m
Jun 30 2019	n/a	n/a	US$21m
Mar 31 2019	n/a	n/a	US$18m
Dec 31 2018	US$747k	US$443k	US$16m
Sep 30 2018	n/a	n/a	US$16m
Jun 30 2018	n/a	n/a	US$13m
Mar 31 2018	n/a	n/a	US$12m
Dec 31 2017	US$713k	US$443k	US$12m

Compensation vs Market: Corey's total compensation ($USD1.98M) is above average for companies of similar size in the German market ($USD1.03M).

Compensation vs Earnings: Corey's compensation has been consistent with company performance over the past year.

CEO

Corey Chambas (61 yo)

17.9yrs

Tenure

US$1,978,749

Compensation

Mr. Corey A. Chambas has been the Chief Executive Officer of First Business Financial Services, Inc. and First Business Capital Corp. since December 2006 and served as its President since February 2005 Jan...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Corey Chambas	CEO & Director	17.9yrs	US$1.98m	1.56% € 6.3m
David Seiler	President & COO	8.6yrs	US$729.34k	0.36% € 1.4m
Brian Spielmann	CFO & Treasurer	1.7yrs	US$588.39k	0.038% € 153.9k
Mark Meloy	Executive Vice President	1.8yrs	US$502.16k	0.65% € 2.6m
Bradley Quade	Chief Credit Officer	4.6yrs	US$506.51k	0.15% € 611.5k
Kevin Crampton	Chief Accounting Officer	1.6yrs	no data	0.015% € 60.9k
Daniel Ovokaitys	Chief Information Officer	10.4yrs	no data	0.15% € 608.2k
Theresa Wiese	Managing Director of Compliance & Risk Management	no data	no data	no data
Jodie Johnson	Senior Director of Marketing & Communications	no data	no data	no data
Jodi Chandler	Chief Human Resources Officer	14.8yrs	no data	0.24% € 977.6k
Bill Elliott	President of Accounts Receivable Financing at First Business Specialty Finance	5.6yrs	no data	no data
Rick Hearden	President of Northeast Wisconsin Market	7.3yrs	no data	no data

6.4yrs

Average Tenure

58.5yo

Average Age

Experienced Management: 45D's management team is seasoned and experienced (6.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Corey Chambas	CEO & Director	22.3yrs	US$1.98m	1.56% € 6.3m
James Hartlieb	President	1.8yrs	no data	0.34% € 1.4m
Daniel Olszewski	Independent Director	5.9yrs	US$65.00k	0.31% € 1.3m
Ralph Kauten	Independent Director	5.9yrs	US$58.50k	0.38% € 1.5m
Carol Sanders	Independent Director	8.2yrs	US$70.00k	0.14% € 572.3k
Gerald Kilcoyne	Independent Chair of the Board	13yrs	US$114.25k	0.79% € 3.2m
W. Lorenz	Independent Director	6.4yrs	US$61.50k	0.20% € 800.8k
John Harris	Independent Director	12.8yrs	US$60.00k	0.17% € 675.0k
Laurie Benson	Independent Director	5.9yrs	US$66.50k	0.089% € 356.3k
Carla Chavarria	Independent Director	7.4yrs	US$58.50k	0.086% € 345.0k
Jessica Green	Independent director	less than a year	no data	no data

6.4yrs

Average Tenure

61yo

Average Age

Experienced Board: 45D's board of directors are considered experienced (6.4 years average tenure).

First Business Financial Services Management

Management criteria checks 3/4

Key information

Recent management updates

President recently sold €252k worth of stock

Executive Vice President recently sold €183k worth of stock

High number of new directors

Mark Bugher to Retire from the Board of First Business Financial Services, Inc. at the Conclusion of AGM

First Business Financial Services, Inc., Annual General Meeting, Apr 26, 2024

First Business Financial Services, Inc. Announces the Resignation of Mark D. Bugher from the Board of Directors, Effective on or About April 26, 2024

Recent updates

Investor sentiment improves as stock rises 16%

Third quarter dividend of US$0.25 announced

President recently sold €252k worth of stock

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on its Common Stock, Payable on November 20, 2024

Third quarter 2024 earnings released: EPS: US$1.27 (vs US$1.17 in 3Q 2023)

First Business Financial Services, Inc. to Report Q3, 2024 Results on Oct 24, 2024

New minor risk - Insider selling

Executive Vice President recently sold €183k worth of stock

Second quarter dividend of US$0.25 announced

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on its Common Stock, Payable on August 21, 2024

Second quarter 2024 earnings released: EPS: US$1.26 (vs US$0.98 in 2Q 2023)

Investor sentiment improves as stock rises 17%

High number of new directors

First quarter dividend of US$0.25 announced

First Business Financial Services, Inc. (NasdaqGS:FBIZ) announces an Equity Buyback for $5 million worth of its shares.

First Business Bank Declares Quarterly Cash Dividends, Payable on May 22, 2024

Mark Bugher to Retire from the Board of First Business Financial Services, Inc. at the Conclusion of AGM

First quarter 2024 earnings released: EPS: US$1.06 (vs US$1.05 in 1Q 2023)

First Business Financial Services, Inc., Annual General Meeting, Apr 26, 2024

Full year 2023 earnings released: EPS: US$4.33 (vs US$4.75 in FY 2022)

Fourth quarter dividend of US$0.25 announced

First Business Financial Services, Inc. Announces the Resignation of Mark D. Bugher from the Board of Directors, Effective on or About April 26, 2024

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on February 21, 2024

Full year 2023 earnings released: EPS: US$4.45 (vs US$4.75 in FY 2022)

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on November 16, 2023

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on November 16 2023

Third quarter 2023 earnings released: EPS: US$1.20 (vs US$1.26 in 3Q 2022)

Chief Human Resources Officer recently sold €238k worth of stock

First Business Financial Services, Inc. Declares Quarterly Cash Dividend on Common Stock, Payable on August 17 2023

Second quarter 2023 earnings released: EPS: US$1.01 (vs US$1.29 in 2Q 2022)

Independent Chair of the Board recently bought €168k worth of stock

Investor sentiment improves as stock rises 16%

First quarter 2023 earnings released: EPS: US$1.08 (vs US$1.02 in 1Q 2022)

Investor sentiment deteriorates as stock falls 15%

First Business Financial Services, Inc. (NasdaqGS:FBIZ) announces an Equity Buyback for $5 million worth of its shares.

First Business Financial Services, Inc. Increases Quarterly Common Stock Dividend, Payable on February 16, 2023

Full year 2022 earnings released: EPS: US$4.88 (vs US$4.17 in FY 2021)

First Business Financial Services, Inc. Reports Unaudited Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

First Business Financial Services, Inc. Announces Executive Changes

General Counsel recently sold €107k worth of stock

General Counsel recently sold €107k worth of stock

Insufficient new directors

First Business Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on November 17, 2022

Third quarter 2022 earnings released: EPS: US$1.29 (vs US$1.07 in 3Q 2021)

Independent Chair of the Board recently bought €161k worth of stock

Second quarter 2022 earnings released: EPS: US$1.33 (vs US$0.95 in 2Q 2021)

First Business Bank Declares Quarterly Cash Dividends, Payable on August 18, 2022

First Business Financial Services, Inc. Appoints Brian D. Spielmann as Deputy Chief Financial Officer

First Business Bank Declares Quarterly Cash Dividend, Payable on May 19, 2022

First quarter 2022 earnings released: EPS: US$1.05 (vs US$1.13 in 1Q 2021)

Insufficient new directors

First Business Announces 10 Quarterly Cash Dividend, Payable on February 17, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Insufficient new directors

Third quarter 2021 earnings released: EPS US$1.07 (vs US$0.50 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.95 (vs US$0.39 in 2Q 2020)

First Business Financial Services, Inc.(NasdaqGS:FBIZ) dropped from Russell 2000 Defensive Index

First quarter 2021 earnings released: EPS US$1.15 (vs US$0.38 in 1Q 2020)

First Business Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on May 24, 2021

Investor sentiment improved over the past week

First Business Financial Services, Inc., Annual General Meeting, Apr 30, 2021

New 90-day high: €18.24

Full year 2020 earnings released: EPS US$1.97 (vs US$2.68 in FY 2019)

New 90-day high: €18.07

Investor sentiment improved over the past week

First Business Financial Services, Inc. Announces Board Changes

Full year 2020 earnings released: EPS US$2.03 (vs US$2.68 in FY 2019)

Market bids up stock over the past week

New 90-day high: €16.36