FBIZ First Business Financial Services Inc

First Business Financial Services, Inc. (Nasdaq:FBIZ) filed its Quarterly Report on Form 10-Q on Friday, June 29, 2011 reporting net income of $2.5 million, or earnings per diluted common share of $0.98 for the second quarter ending June 30, 2011 as compared to a net loss of $1.5 million reported in the second quarter of 2010. The second quarter 2010 net loss was primarily the result of a charge to earnings of $2.7 million to reflect the impairment of the Company's goodwill. Excluding the goodwill impairment, net income was $1.2 million for the second quarter of 2010.

For the six month period ending June 30, 2011 net income was $3.9 million, or earnings per diluted common share of $1.49, as compared to a net loss of $626,000 reported for the same period of 2010. Excluding the goodwill impairment of $2.7 million, net income was $2.1 million for the six months ended June 30, 2010.

Corey A. Chambas, President and Chief Executive Officer, commented, "In addition to a good bottom line for the quarter, we also produced strong top line revenue growth, increased core earnings and had significant asset quality improvement. Given the challenging economic environment, we are very pleased with these results and feel we are well positioned moving forward."

A complete copy of the Corporation's Quarterly Report on Form 10-Q for the period ending June 30, 2011 and all reports filed by the Corporation with the SEC may be accessed through the Corporation's website, www.firstbusiness.com.

About First Business Financial Services, Inc.

First Business Financial Services (Nasdaq:FBIZ) is a $1.1 billion Wisconsin-based bank holding company that specializes in focused financial solutions for businesses, key executives, and high net worth individuals through its operating companies. It is the 2nd largest Wisconsin-based commercial bank holding company listed on NASDAQ or the NYSE. Its companies include: First Business Bank - Madison; First Business Bank - Milwaukee; First Business Bank - Northeast; First Business Trust & Investments; First Business Equipment Finance, LLC; and First Business Capital Corp. For additional information, visit www.firstbusiness.com or call (608) 238-8008.

The First Business Financial Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2667     

This press release includes "forward-looking" statements related to First Business Financial Services, Inc. (the "Company") that can generally be identified as describing the Company's future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect the Company's future results, please see the Company's filings with the Securities and Exchange Commission.

CONTACT:  First Business Financial Services, Inc.
          James F. Ropella, Senior Vice President
           and Chief Financial Officer
          608-232-5970
          jropella@firstbusiness.com