First Business Financial Q3 revenue rises on core deposit growth

Overview

• US business bank's Q3 operating revenue and EPS rose yr/yr

Outlook

• Company expects expenses to rise as it invests in talent, marketing, and technology

• First Business Bank anticipates net interest margin to moderate from Q3 but remain above long-term target

• Company expects full-year 2026 effective tax rate between 13% and 15%

Result Drivers

• CORE DEPOSIT GROWTH - Co said 14.9% yr/yr growth in core deposits outpaced loan growth and improved funding mix

• LOAN EXPANSION - Co said loans grew 10.2% yr/yr, driven by CRE and C&I lending across multiple markets

• NET INTEREST MARGIN - Co said net interest margin rose to 3.80% from 3.68% yr/yr, helped by loan yields and deposit mix

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)