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First Business Financial Services earnings top analysts' expectations

First Business Financial Services HQ, State Journal photo

First Business Financial Services, parent company of First Business Bank, 401 Charmany Drive in Madison is seen in a file photo.

Madison-based First Business Financial Services Inc. on Thursday reported fourth-quarter earnings of $8.6 million, or $1.01 per share, topping Wall Street expectations.

The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The bank holding company for First Business Bank and First Business Bank-Milwaukee posted revenue of $31.1 million in the period. Its revenue net of interest expense was $28.5 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $28.7 million.

For the year, the company reported profit of $35.8 million, or $4.17 per share. Revenue was reported as $112.8 million.

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