First Business Financial Services, Inc. Financial Ratios — FBIZ

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	25.01	21.47	26.74	22.6	22.23	17.33	12.51	15.57	19.47	12.59	23.02	21.5	16.64	17.46	17.3
Return on Assets (%)	0.74	0.74	1.1	0.98	0.97	0.84	0.67	0.87	1.15	0.73	1.37	1.45	1.14	1.2	1.27
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	5.65	6.56	4.59	3.33	-0.12	1.95	2.1	1.77	3.42	3.41	3.15	3.18	2.53	2.44	2.24
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	27.93	29.36	41.81	37.74	32.9	21.98	19.1	21.16	27.47	18.01	41.71	40.86	32.76	33.33	35.85
Profit Margin (%)	19.81	19.16	27.19	25.14	21.83	19.21	15.98	19.54	26.15	16.71	31.71	31.96	25.73	28.83	29.84
Net Income to Common Margin (%)	19.81	19.16	27.19	25.14	21.83	19.21	15.98	19.54	26.15	16.71	31.71	31.42	25.12	28.26	29.32
Effective Tax Rate (%)	29.05	34.73	34.96	33.38	33.65	12.63	16.34	7.65	4.8	7.25	23.97	21.79	21.45	13.5	16.76
Dvd Payout Ratio (%)	8.65	8.27	18.01	24.02	23.11	28.01	38.12	30.15	22.36	33.29	17.25	16.65	20.96	19.18	19.59
Sustainable Growth Rate (%)	22.85	19.69	21.92	17.17	17.09	12.47	7.74	10.88	15.12	8.4	19.05	17.92	13.15	14.11	13.91

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	51	23	22	44	45	70	218	309	337	436	419	467	340	328	259
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	51	23	22	44	45	70	218	309	337	436	419	467	340	328	259
Total Debt/EBITDA	21.05	7.44	9.58	23.69	-497	45.99	139.51	209.19	110.52	125.72	117.88	114.85	93.47	87.74	68.74
Net Debt/EBITDA	-33.06	-20.58	-25.42	-31.51	764.82	-5.17	105.88	150.6	86.04	107.45	100.29	87.09	52.64	43.43	56.32
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.19	3.72	4.51	4.17	4.53	5.13	5.52	5.61	6.16	5.47	6.41	6.84	6.58	6.9	7.49
Long-Term Debt/Equity (%)	78.81	22.83	20.36	32.17	29.66	43.11	128.73	170.98	173.56	211.3	180.25	179.17	117.36	99.81	69.81
Long-Term Debt/Capital (%)	57.42	33.24	28.01	39.48	35.67	43.26	68.76	73.68	72.29	75.61	71.12	68.41	58.33	54.14	44.96
Long-Term Debt/Total Assets (%)	4.3	1.85	1.75	2.72	2.51	3.91	12.15	15.71	16.07	16.96	15.79	15.69	9.69	8.51	6.36
Total Debt/Equity (%)	78.81	22.83	20.36	32.17	29.66	43.11	128.73	170.98	173.56	211.3	180.25	179.17	117.36	99.81	69.81
Total Debt/Capital (%)	57.42	33.24	28.01	39.48	35.67	43.26	68.76	73.68	72.29	75.61	71.12	68.41	58.33	54.14	44.96
Total Debt/Total Assets (%)	4.3	1.85	1.75	2.72	2.51	3.91	12.15	15.71	16.07	16.96	15.79	15.69	9.69	8.51	6.36
Net Debt to Equity	-123.78	-63.16	-54.02	-42.78	-45.64	-4.85	97.7	123.09	135.11	180.6	153.35	135.87	66.1	49.41	57.21
Net Debt/Capital (%)	189.44	364.93	3,189.36	-654.54	-581.42	-9.38	62.55	66.83	65.74	71.71	67	61.07	43.19	36.23	39.54
EBITDA	2	3	2	2	- -	2	2	1	3	3	4	4	4	4	4
EBITDA-CapEx	2	2	2	-1	-1	1	- -	1	3	3	3	1	1	4	3
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.19	3.72	4.51	4.17	4.53	5.13	5.52	5.61	6.16	5.47	6.41	6.84	6.58	6.9	7.49
Long-Term Debt/Equity (%)	78.81	22.83	20.36	32.17	29.66	43.11	128.73	170.98	173.56	211.3	180.25	179.17	117.36	99.81	69.81
Long-Term Debt/Capital (%)	57.42	33.24	28.01	39.48	35.67	43.26	68.76	73.68	72.29	75.61	71.12	68.41	58.33	54.14	44.96
Long-Term Debt/Total Assets (%)	4.3	1.85	1.75	2.72	2.51	3.91	12.15	15.71	16.07	16.96	15.79	15.69	9.69	8.51	6.36
Total Debt/Equity (%)	78.81	22.83	20.36	32.17	29.66	43.11	128.73	170.98	173.56	211.3	180.25	179.17	117.36	99.81	69.81
Total Debt/Capital (%)	57.42	33.24	28.01	39.48	35.67	43.26	68.76	73.68	72.29	75.61	71.12	68.41	58.33	54.14	44.96
Total Debt/Total Assets (%)	4.3	1.85	1.75	2.72	2.51	3.91	12.15	15.71	16.07	16.96	15.79	15.69	9.69	8.51	6.36
CFO/Total Liabilities	1.58	1.42	1.37	0.8	1.42	1.62	1.38	1.42	1.52	1.13	1.49	1.42	1.62	1.63	1.66
CFO/CapEx	42.77	28.52	29.95	3.72	29.43	44.8	18.04	26.09	128.82	100.89	92.05	11.99	18.13	257.81	103.69
Altman's Z-Score	0.1	0.14	0.18	0.17	0.19	0.19	0.19	0.18	0.2	0.16	0.19	0.21	0.19	0.2	0.22

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	12.27	13.82	15.68	15.7	18.13	17.08	15.37	15.59	15.59	14.19	16.04	17.16	12.69	11.73	12.98
Days Sales Outstanding	29.74	26.42	23.28	23.25	20.13	21.37	23.76	23.41	23.42	25.73	22.76	21.27	28.76	31.1	28.12
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	41	90	148	188	214	203	191	169	224	154	243	301	326	377	443
- Cash & Cash Equivalents	130	86	81	103	114	78	53	87	67	57	57	103	140	158	39
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12	12	12	12
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	51	23	22	44	45	70	218	309	337	436	419	467	340	328	259
Enterprise Value	-208	-174	-91	-15	4	50	230	253	321	349	399	465	241	218	297
Total Capital	88	68	79	112	125	161	317	419	466	576	589	683	583	606	577
Total Debt/Capital (%)	57.42	33.24	28.01	39.48	35.67	43.26	68.76	73.68	72.29	75.61	71.12	68.41	58.33	54.14	44.96
Total Debt / EV	-0.24	-0.13	-0.24	-2.9	10.09	1.4	0.95	1.22	1.05	1.25	1.05	1	1.41	1.5	0.87
EV/Sales	- -	- -	- -	- -	0.06	0.64	3.09	3.03	3.6	3.44	3.54	3.64	1.68	1.42	1.76
EV/EBITDA	- -	- -	- -	- -	- -	32.76	147.18	171.05	105.26	100.76	112.17	114.35	66.39	58.33	78.79
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	0.19	1.9	10.26	9.99	11.07	13.11	11.08	12.03	4.62	3.79	4.82
EV/Free Cash Flow to Firm	- -	- -	- -	- -	0.18	1.86	9.72	9.62	10.99	12.98	10.96	11.11	4.38	3.78	4.77
Diluted Market Cap	41	90	148	189	214	203	191	169	224	154	243	301	326	377	443
Diluted Enterprise Value	-38	27	89	130	145	196	356	391	494	533	604	677	538	559	675
EV per Share	- -	- -	- -	- -	0.52	5.79	26.69	29.24	37.69	41.64	47.95	56.52	29.69	26.76	36.45
TTM Sales	43	47	51	56	76	78	74	83	89	102	113	128	144	153	169
TTM EBITDA	2	3	2	2	- -	2	2	1	3	3	4	4	4	4	4
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	18	16	16	12	23	26	22	25	29	27	36	39	52	57	62
TTM Free Cash Flow to Firm	18	17	16	15	24	27	24	26	29	27	36	42	55	58	62

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	2.3	5.43	9.02	12.56	8.91	7.6	8.06	6.42	7.68	5.74	6.67	7.18	5.91	6.54	7.11
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-208	-174	-91	-15	4	50	230	253	321	349	399	465	241	218	297
Low Price	5.6	7.41	11.42	18.4	18.32	18.76	20.57	18.76	19.36	12.86	17.56	28.97	24.57	32.56	42.18
EV/Sales	- -	- -	- -	- -	0.06	0.64	3.09	3.03	3.6	3.44	3.54	3.64	1.68	1.42	1.76
EV/EBITDA	- -	- -	- -	- -	- -	32.76	147.18	171.05	105.26	100.76	112.17	114.35	66.39	58.33	78.79
Price/Earnings	4.91	10.07	10.75	13.32	12.95	13.64	16	10.34	9.61	9.09	6.78	7.48	9.02	8.7	8.96
Price/Earnings Average	4.19	9.44	8.64	12.41	12.01	13.21	16.96	12.48	8.42	8.89	6.16	6.94	7.19	7.5	8.29
Price/Earnings High	5.13	11.54	11.04	13.66	14.16	14.92	20.57	14.28	9.67	13.51	7.42	8.17	9.23	9.81	9.64
Price/Earnings Low	3.33	6.5	6.53	10.23	9.48	10.79	14.88	9.94	7.07	6.35	4.08	5.93	5.53	6.12	6.96
Price/Book Value	1.1	1.97	2.59	2.77	2.65	2.22	1.92	1.53	1.74	1.1	1.43	1.48	1.41	1.42	1.45
Price/Book Value Average	0.94	1.85	2.08	2.58	2.46	2.15	2.04	1.84	1.52	1.07	1.29	1.37	1.13	1.22	1.34
Price/Book Value High	1.15	2.26	2.65	2.84	2.9	2.43	2.47	2.11	1.75	1.63	1.56	1.61	1.45	1.6	1.56
Price/Book Value Low	0.75	1.27	1.57	2.13	1.94	1.76	1.79	1.47	1.28	0.77	0.86	1.17	0.87	1	1.13
Price/Tangible Book Value	0.64	0.9	1.35	1.5	1.55	1.37	1.22	1	1.23	0.8	1.1	1.27	1.23	1.24	1.27
Price/Tangible Book Value Average	0.55	0.85	1.09	1.4	1.43	1.32	1.29	1.21	1.08	0.78	1	1.18	0.98	1.07	1.18
Price/Tangible Book Value High	0.67	1.03	1.39	1.54	1.69	1.49	1.56	1.38	1.24	1.18	1.2	1.39	1.26	1.4	1.37
Price/Tangible Book Value Low	0.44	0.58	0.82	1.15	1.13	1.08	1.13	0.96	0.9	0.56	0.66	1.01	0.75	0.87	0.99
Price/Sales	0.97	1.93	2.92	3.35	2.83	2.62	2.56	2.02	2.51	1.52	2.15	2.35	2.27	2.46	2.63
Price/Sales Average	0.83	1.81	2.35	3.12	2.62	2.54	2.71	2.44	2.2	1.48	1.95	2.18	1.81	2.12	2.43
Price/Sales High	1.02	2.21	3	3.43	3.09	2.87	3.29	2.79	2.53	2.26	2.35	2.57	2.32	2.77	2.83
Price/Sales Low	0.66	1.25	1.77	2.57	2.07	2.07	2.38	1.94	1.85	1.06	1.29	1.86	1.39	1.73	2.04
Price/Cash Flow	2.35	5.62	9.3	15.86	9.21	7.77	8.5	6.67	7.74	5.8	6.74	7.78	6.24	6.56	7.18
Price/Cash Flow Average	2.01	5.27	7.47	14.78	8.54	7.53	9.01	8.05	6.78	5.66	6.12	7.22	4.97	5.66	6.64
Price/Cash Flow High	2.46	6.44	9.54	16.26	10.07	8.5	10.93	9.21	7.78	8.61	7.37	8.49	6.38	7.4	7.72
Price/Cash Flow Low	1.6	3.63	5.64	12.18	6.75	6.15	7.91	6.41	5.69	4.05	4.06	6.17	3.82	4.61	5.58
Price/Free Cash Flow Average	1.96	5.09	7.25	11.71	8.26	7.36	8.54	7.75	6.72	5.61	6.05	6.66	4.71	5.64	6.58
Price/Free Cash Flow High	2.4	6.22	9.26	12.88	9.74	8.32	10.35	8.87	7.72	8.53	7.29	7.84	6.05	7.37	7.65
Price/Free Cash Flow Low	1.56	3.51	5.47	9.65	6.52	6.01	7.49	6.17	5.64	4.01	4.01	5.69	3.62	4.6	5.52
EV/Sales Average	- -	0.46	1.18	2.07	1.71	2.44	4.93	5.1	5.23	5.21	5.16	5.13	3.28	3.31	3.81
EV/Sales High	- -	0.86	1.83	2.39	2.18	2.76	5.51	5.46	5.56	5.98	5.56	5.51	3.79	3.96	4.2
EV/Sales Low	- -	- -	0.61	1.52	1.16	1.97	4.6	4.61	4.87	4.79	4.5	4.81	2.86	2.92	3.42
EV/EBITDA Average	-18.37	7.02	25.75	62.34	-1,438.77	124.82	235.12	288.34	152.92	152.84	163.76	161.16	129.87	135.79	170.02
EV/EBITDA High	-15.08	13.14	39.93	71.76	-1,833.18	141.63	262.64	308.25	162.49	175.48	176.42	173.24	150.16	162.59	187.72
EV/EBITDA Low	-21.38	-1.58	13.21	45.83	-975.41	100.99	219.3	260.34	142.58	140.41	142.89	151.16	113.35	119.74	152.63
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	8.25	11.48	18.82	23.96	25.01	23.72	22.12	19.51	26.33	18.41	29.17	36.55	40.1	46.29	54.3
High Price	8.62	13.15	19.32	24.57	27.35	25.94	28.43	26.95	26.49	27.35	31.89	39.88	41.03	52.22	58.41
Enterprise Value Average	-44	21	60	117	129	189	367	426	466	530	582	655	472	508	642
Enterprise Value High	-36	40	93	134	165	215	410	455	495	608	627	704	546	608	708
Enterprise Value Low	-51	-5	31	86	88	153	343	385	435	487	508	615	412	448	576

Shares Outstanding	5	8	8	9	9	9	9	9	9	9	8	8	8	8	8
Diluted Weighted Avg Shares	5	8	8	8	9	9	9	9	9	8	8	8	8	8	8
Basic Weighted Avg Shares	5	8	8	8	9	9	9	9	9	8	8	8	8	8	8
Revenue per Share	8.48	5.95	6.44	7.15	8.85	9.05	8.65	9.66	10.47	12.12	13.56	15.54	17.7	18.83	20.67
EBITDA per Share	0.48	0.39	0.3	0.24	-0.01	0.18	0.18	0.17	0.36	0.41	0.43	0.49	0.45	0.46	0.46
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.68	1.14	1.75	1.8	1.93	1.74	1.38	1.89	2.74	2.02	4.3	4.88	4.45	5.32	6.06
Basic EPS from Cont Ops	1.68	1.14	1.75	1.8	1.93	1.74	1.38	1.89	2.74	2.02	4.3	4.97	4.55	5.43	6.17
Diluted EPS, GAAP	1.68	1.14	1.74	1.79	1.93	1.74	1.38	1.89	2.74	2.02	4.3	4.88	4.45	5.32	6.06
Diluted EPS from Cont Ops	1.68	1.14	1.74	1.79	1.93	1.74	1.38	1.89	2.74	2.02	4.3	4.97	4.55	5.43	6.17
Dividend per Share	0.15	0.09	0.32	0.43	0.45	0.49	0.53	0.57	0.61	0.67	0.74	0.9	1.04	1.13	1.29
Cash Flow per Share	3.5	2.04	2.02	1.51	2.72	3.05	2.6	2.93	3.4	3.18	4.33	4.7	6.43	7.06	7.56
Free Cash Flow per Basic Share	3.42	1.97	1.96	1.1	2.62	2.98	2.46	2.81	3.38	3.15	4.28	4.31	6.08	7.03	7.49
Cash & Equivalents per Share	59.91	36.53	33.28	31.54	29.72	26.06	20.73	26.03	28.21	28.72	31.61	38.25	53.68	61.25	51.12
Book Value per Share	7.48	5.83	7.28	8.64	9.44	10.66	11.49	12.78	15.17	16.76	20.46	24.75	28.39	32.63	37.46
Tangible Book Value per Share	12.8	12.71	13.91	16.01	16.18	17.36	18.19	19.52	21.4	23.16	26.48	28.75	32.66	37.39	42.61

First Business Financial Services, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)