First Business Financial Services, Inc. (FBIZ) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders for First Business Financial Services, Inc. Please note that today's meeting is being recorded. I would like to welcome Gerry Kilcoyne, Board Chair, who will lead the meeting. Mr. Kilcoyne, the floor is yours.

Good morning, and welcome to the 2024 Annual Meeting of Shareholders. I am Gerry Kilcoyne, First Business Financial Services Inc. Board Chair. First, we will hold the annual meeting and report the voting results on the 3 proposals listed in the proxy. Then we will allocate time for shareholder questions after the annual meeting is adjourned. Shareholders who entered the meeting using their voter control number may submit questions by clicking on the Q&A icon in the upper right corner of the meeting center screen, as shown in the example on the slide. If you are a shareholder and entered this meeting as a guest and would like to submit a question during the Q&A, you will need your voter control number found on the notice of proxy card you received. Please disconnect and reconnect using your border control number to be validated as a shareholder. I call your attention to the rules of conduct for submitting questions. Questions can be submitted at any time during the meeting and will be answered during the Q&A session following the conclusion of the annual meeting. I now call the 2024 First Business Financial Services Inc. Annual Shareholder Meeting to order. Shareholders have been asked to vote on 3 proposals. Each proposal is outlined in the proxy statement and is summarized on the screen. All shareholders as of February 28, 2024, can vote their shares. If you have already voted, your vote has been counted. If you've not yet voted or would like to change your vote, you can do so online by selecting Cast Your Vote on the meeting broadcast page. Voting will close in the next few minutes. While we are waiting for any last-minute votes, I would like to acknowledge those members of the Board of Directors continuing in office, as shown on the slide. I would also like to take a moment to recognize Mark Bugher, who will be retiring from the Board at the conclusion of this meeting. Mark has served as a Director of First Business Financial Services, Inc. since 2005 and First Business Bank since 2018. He serves on the Compensation Committee, where he has served as Chair since 2017 and the Corporate Governance and Nominating Committee. Mark previously served on the Audit Committee for 6 years. We can't thank Mark enough for his 19 years of dedicated service to the company, the bank and the shareholders. I would also like to acknowledge the First Business Financial Services Inc. executive officers, as shown on the slide, and thank them for delivering a great year of operating and financial results in 2023 and for their excellent leadership. Also with us is Sara Krople partnered with Crow LLP, our independent registered public accounting firm, who is available to respond to appropriate shareholder questions during the Q&A session following the adjournment of the annual meeting. Voting is now closed. John Ruocco of Computershare, the inspector of elections, has informed me that we have a quorum. I will now share the preliminary results. First, the nominees, Laurie S. Benson, Corey A. Chambas, and John J. Harris have been elected. Second, the executive compensation proposal was approved. And third, Pro LLP has been ratified as our independent registered public accounting firm. These results are preliminary until verified by Computershare. The final results will be detailed in our Form 8-K filing. This concludes the Annual Meeting of Shareholders, and the meeting is adjourned. I'm now pleased to open the Q&A session to answer any questions submitted by our shareholders. Please adhere to the rules of conduct shared earlier. I'll now ask our Corporate Secretary, Lynn Ann Arians, to read the questions. Lynn, are there any questions from shareholders?

There are no questions.

Thank you, Lynn Ann. This concludes the Q&A session. Anytime you have questions, please feel free to reach out to the company via our Investor Relations website. A recording of the meeting will be added to our Investor Relations website in the near future. And I want to thank you for attending the Annual Meeting of Shareholders.

This concludes the broadcast. You may now disconnect.