First Business Financial Services Files 8-K

TL;DR

FBFS files 8-K with financial updates.

AI Summary

First Business Financial Services, Inc. filed an 8-K on September 19, 2024, reporting events that occurred on September 13, 2024. The filing primarily concerns financial statements and exhibits, with no specific material events detailed in the provided text.

Why It Matters

This 8-K filing indicates that First Business Financial Services, Inc. is providing updated financial information and exhibits to the SEC, which is standard for public companies.

Risk Assessment

Risk Level: low — The filing is a routine 8-K for financial statements and exhibits, not indicating any immediate material changes or risks.

Key Players & Entities

• FIRST BUSINESS FINANCIAL SERVICES, INC. (company) — Registrant
• September 13, 2024 (date) — Earliest event date
• September 19, 2024 (date) — Filing date
• 401 Charmany Drive Madison, Wisconsin 53719 (address) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ge on which registered Common Stock, $0.01 par value FBIZ The Nasdaq Stock Mar
• $20 million — s, Inc. (the "Company") sold and issued $20 million in aggregate principal amount of 7.5% S
• $15 million — gust 15, 2024 redemption in full of its $15 million in aggregate principal amount of 2019 F

Filing Documents

• tm2424271d1_8k.htm (8-K) — 29KB
• tm2424271d1_ex4-1.htm (EX-4.1) — 41KB
• 0001104659-24-101214.txt ( ) — 249KB
• fbiz-20240913.xsd (EX-101.SCH) — 3KB
• fbiz-20240913_lab.xml (EX-101.LAB) — 33KB
• fbiz-20240913_pre.xml (EX-101.PRE) — 22KB
• tm2424271d1_8k_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events . On September 13, 2024, First Business Financial Services, Inc. (the "Company") sold and issued $20 million in aggregate principal amount of 7.5% Subordinated Debentures (the "Debentures") to certain "accredited investors" as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended (the "Securities Act"). The Debentures were offered and sold in reliance on the exemptions from registration provided by Section 4(a)(2) of the Securities Act, and Rule 506 of Regulation D thereunder. The Company intends to use the net proceeds first to repay the indebtedness incurred to fund the August 15, 2024 redemption in full of its $15 million in aggregate principal amount of 2019 Fixed-to-Floating Rate Subordinated Notes due August 15, 2029, and then to fund the Company's anticipated future loan growth. The Debentures, which have been structured to qualify as Tier 2 capital of the Company for regulatory risk-based capital purposes, mature on September 13, 2034, and will bear interest at a fixed rate of 7.5% per annum for their entire term. The Company may, at its option, redeem the Debentures, in whole or part, at any time after the fifth anniversary of issuance, at a price equal to 100% of the outstanding principal amount of such Debentures redeemed plus accrued but unpaid interest to, but excluding, the redemption date, subject to any required prior approval of the Board of Governors of the Federal Reserve System. Except upon acceleration as noted below, the Debentures are not subject to repayment at the option of the holders. Payment of principal and accrued interest on the Debentures may be accelerated by a holder of the Debentures only upon the Company's bankruptcy (liquidation or reorganization) or the receivership of its wholly-owned bank subsidiary, First Business Bank. There is no right of acceleration in the case of default in the payment of interest on the Debentures or the performance of any of the Company's other

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits . (d) Exhibits 4.1 Form of 7.5% Subordinated Debenture 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: September 19, 2024 FIRST BUSINESS FINANCIAL SERVICES, INC. By: /s/ Brian D. Spielmann Brian D. Spielmann Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR