First Business Financial Services (FBIZ) Sidoti's Year End Virtual Investor Conference summary

Business model and operations

• Focuses on business banking and private wealth management, with $4 billion in assets and similar assets under management.

• Operates in four main markets: Madison, Milwaukee, Appleton (WI), and Kansas City (KS), with national niche lending businesses.

• Offers specialized C&I lending, including equipment finance, asset-based lending, accounts receivable financing, floor plan financing, and SBA lending.

• Private wealth services include financial planning, asset management, and trust administration, with $3.8 billion in AUM.

• Provides bank consulting and asset liability management services to other banks.

Employee and client engagement

• Achieved 90% employee survey participation and 86% engagement, surpassing industry benchmarks.

• Named a USA TODAY Top Workplace for five consecutive years.

• Client satisfaction at 91% and a Net Promoter Score of 70, nearly three times the industry average.

• High client retention and referrals drive growth.

Strategic planning and initiatives

• Launched a new five-year strategic plan in 2024, involving about 25% of employees.

• Eleven key strategies include culture, future-ready talent, deposits, operational excellence, and profitability.

• Emphasizes intentional culture-building, employee development, and technology adoption, including AI training.

• Uses robotic process automation to improve efficiency, with in-house software engineers.