First Business Financial Services Management
Management criteria checks 3/4
First Business Financial Services' CEO is Dave Seiler, appointed in Jan 2023, has a tenure of 3.42 years. total yearly compensation is $1.08M, comprised of 46.2% salary and 53.8% bonuses, including company stock and options. directly owns 0.49% of the company’s shares, worth $2.57M. The average tenure of the management team and the board of directors is 3.8 years and 7.5 years respectively.
Key information
Dave Seiler
Chief executive officer
US$1.1m
Total compensation
| CEO salary percentage | 46.16% |
| CEO tenure | 3.4yrs |
| CEO ownership | 0.5% |
| Management average tenure | 3.8yrs |
| Board average tenure | 7.5yrs |
Recent management updates
Recent updates
FBIZ: Mixed Earnings Visibility And Credit Costs Will Shape Future Rerating
Analysts have slightly trimmed their average $ fair value target for First Business Financial Services after a $4 cut from Raymond James was only partly offset by a $1 increase from Keefe Bruyette, citing updated views on earnings visibility and valuation multiples. Analyst Commentary Analyst updates on First Business Financial Services point to a mixed view, with recent target changes reflecting both confidence in certain aspects of the story and fresh questions around earnings visibility and where the stock should trade on valuation.FBIZ: Cleaner Credit Costs And Earnings Visibility Will Support Future Rerating
Analysts have made only small tweaks to their models, with recent mixed price target revisions on First Business Financial Services that net to a modest change in the Street's view. This reflects updated assumptions around discount rate, growth, margins, and future P/E.FBIZ: Dividend Momentum And Cleaner Credit Costs Will Support Future Rerating
Analysts have trimmed the fair value estimate for First Business Financial Services by $1 to $65.60, reflecting updated assumptions on discount rates, revenue growth, profit margins, and future P/E multiples, informed by the mixed pattern of recent price target changes across the Street. Analyst Commentary Recent Street research on First Business Financial Services shows both upward and downward price target moves, which provides a useful snapshot of how opinions differ on valuation and execution risk.FBIZ: Dividend Momentum And Reset Expectations Will Support Future Rerating
Analysts have adjusted the price target on First Business Financial Services slightly lower to $66.60, with the move tied to refreshed assumptions around fair value, discount rate, revenue growth, profit margin, and forward P/E following recent Street research updates from major firms. Analyst Commentary Recent Street research on First Business Financial Services has focused on refining fair value estimates using updated assumptions around discount rates, revenue growth, profitability, and forward P/E.FBIZ: Dividend Track Record And Reset Expectations Will Support Future Re Rating
Analysts have raised their consolidated price target for First Business Financial Services by a mid single digit dollar amount, citing recent research that includes a $9 increase from Piper Sandler and a $4 increase from Keefe Bruyette. Underlying fair value estimates and key model inputs such as discount rate, revenue growth, profit margin and future P/E remain broadly unchanged.FBIZ: Dividend Discipline And Solid Execution Will Support Future Re Rating
Analysts have revised their price targets on First Business Financial Services higher by a combined $13 to reflect updated views on the bank's valuation, supported by recent research from multiple firms. Analyst Commentary Recent research points to a higher assessed value for First Business Financial Services, with analysts updating their price targets as they refresh models and assumptions for the bank.FBIZ: Dividend Momentum And Margin Execution Will Support Future Re Rating
Analysts have moved their price target for First Business Financial Services slightly lower to align with a fair value revision from about $67.25 to roughly $67.20. They point to modest tweaks in their discount rate, P/E assumptions, and margin outlook as the key drivers.FBIZ: Dividend Momentum And Earnings Assumptions Will Support Higher Future Re Rating
Analysts have lifted their price targets on First Business Financial Services by $4 to $9, citing adjusted assumptions around the discount rate, profit margin, and forward P/E, which together support an updated fair value of $67.25 per share. Analyst Commentary Bullish Takeaways Bullish analysts link the higher price targets to updated assumptions around the discount rate, suggesting they see the risk profile as adequately reflected in the new fair value of $67.25 per share.First Business Financial Services' (NASDAQ:FBIZ) Upcoming Dividend Will Be Larger Than Last Year's
First Business Financial Services, Inc.'s ( NASDAQ:FBIZ ) dividend will be increasing from last year's payment of the...FBIZ: Higher Earnings Quality And Dividend Increases Will Support Re Rating
The analyst price target for First Business Financial Services has increased from about $58.20 to roughly $67.25, with analysts attributing the change to updated assumptions around fair value, earnings quality, and P/E expectations as reflected in recent Street research. Analyst Commentary Bullish analysts lifting their price targets toward about $67.25 are generally basing their views on updated assumptions around fair value, earnings quality, and the P/E they believe the shares can support.Is Now The Time To Put First Business Financial Services (NASDAQ:FBIZ) On Your Watchlist?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Digital Transformation And Critical Expansion Pave Path For Thriving Revenue Growth And Profitability
Strategic market expansions and niche lending focus are expected to drive organic revenue growth and diversification with potentially higher margins.Analysts Have Made A Financial Statement On First Business Financial Services, Inc.'s (NASDAQ:FBIZ) Third-Quarter Report
Investors in First Business Financial Services, Inc. ( NASDAQ:FBIZ ) had a good week, as its shares rose 3.9% to close...First Business Financial Services' (NASDAQ:FBIZ) Shareholders Will Receive A Bigger Dividend Than Last Year
The board of First Business Financial Services, Inc. ( NASDAQ:FBIZ ) has announced that it will be paying its dividend...CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$50m |
| Dec 31 2025 | US$1m | US$500k | US$48m |
| Sep 30 2025 | n/a | n/a | US$49m |
| Jun 30 2025 | n/a | n/a | US$46m |
| Mar 31 2025 | n/a | n/a | US$45m |
| Dec 31 2024 | US$829k | US$434k | US$42m |
| 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$729k | US$375k | 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$774k | US$334k | 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$670k | US$313k | 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$601k | US$303k | 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$593k | US$291k | US$23m |
Compensation vs Market: Dave's total compensation ($USD1.08M) is below average for companies of similar size in the US market ($USD2.41M).
Compensation vs Earnings: Dave's compensation has increased by more than 20% in the past year.
CEO
Dave Seiler (61 yo)
Mr. David R. Seiler, also known as Dave, had been Chief Operating Officer at First Business Financial Services, Inc. since April 15, 2016 until May 3, 2026 and served as its Director until January 2021. He...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.4yrs | US$1.08m | 0.49% $ 2.6m | |
| CFO & Treasurer | 3.3yrs | US$688.27k | 0.087% $ 456.5k | |
| Executive VP & Chief Credit Officer | 6.2yrs | US$667.49k | 0.20% $ 1.0m | |
| Chief Accounting Officer | 3.2yrs | no data | 0.028% $ 146.6k | |
| Chief Information Officer | 12yrs | no data | 0.13% $ 666.1k | |
| Senior Director of Marketing & Communications | no data | no data | no data | |
| Chief Human Resources Officer & Assistant Corporate Secretary | 16.4yrs | no data | 0.28% $ 1.5m | |
| President of Accounts Receivable Financing at First Business Specialty Finance | 7.2yrs | no data | no data | |
| Senior VP & Director of Commercial Banking | 3.4yrs | no data | no data | |
| President of Greater Dane County Market | 3.4yrs | no data | no data | |
| Chief Risk Officer | 4.3yrs | no data | 0.056% $ 290.2k | |
| Director of Corporate Governance & Corporate Secretary | no data | no data | no data |
Experienced Management: FBIZ's management team is considered experienced (3.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | less than a year | US$1.08m | 0.49% $ 2.6m | |
| Independent Director | 7.5yrs | US$87.00k | 0.33% $ 1.7m | |
| Director | 23.9yrs | US$1.24m | 1.67% $ 8.7m | |
| Independent Chair of the Board | 14.6yrs | US$143.25k | 0.80% $ 4.2m | |
| Independent Director | 8yrs | US$82.50k | 0.21% $ 1.1m | |
| Independent Director | 1.1yrs | US$57.67k | 0.047% $ 245.4k | |
| Independent Director | 7.5yrs | US$86.00k | 0.10% $ 542.0k | |
| Independent Director | 9yrs | US$83.00k | 0.10% $ 527.4k | |
| Independent Director | no data | no data | 0.0024% $ 12.5k |
Experienced Board: FBIZ's board of directors are considered experienced (7.5 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/25 21:59 |
| End of Day Share Price | 2026/06/25 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
First Business Financial Services, Inc. is covered by 5 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jeffrey Rulis | D.A. Davidson & Co. |
| null null | D.A. Davidson & Co. |
| Damon DelMonte | Keefe, Bruyette, & Woods |