First Business Bank announces CFO succession plan for 2023

MADISON, Wis.–(BUSINESS WIRE)–First Business Financial Services, Inc. (the “Company”, the “Bank” or “First Business Bank”) (Nasdaq: FBIZ) announced that Chief Financial Officer Edward G. Sloane, Jr. intends to retire in March. December 31, 2023 and that the Company expects to appoint Chief Accounting Officer Brian D. Spielmann to succeed him as Chief Financial Officer effective the same date.

“Brian has a deep understanding of our Bank, our finance and accounting team and our strategic vision for continued growth and success, as well as the needs of our internal and external stakeholders,” said the Chairman and CEO Corey Chambas. “As a strategic contributor and trusted advisor to me and the entire management team for many years, Brian truly embodies First Business Bank’s commitment to creating value by living our values ​​and is a perfect fit to serve as our next CFO.”

Spielmann will serve as deputy chief financial officer and chief accounting officer until he succeeds Sloane as chief financial officer of the holding company and First Business Bank on March 31. The 16-year veteran of the company has been instrumental in First Business Bank’s strategic planning, capital planning, asset/liability management, liquidity management, financial reporting and investor relations activities . Prior to being named chief accounting officer in 2020, Spielmann held a number of progressive finance leadership roles after joining First Business Bank in 2006. He earned his accounting degree from Bradley University and his master’s degree in administration of Business from Edgewood College. A chartered accountant, Spielmann also completed the ABA Stonier Graduate School of Banking program and holds a Banking Leadership Certificate from the University of Pennsylvania – The Wharton School.

“I have had the pleasure of working closely with Brian since joining the Bank and know that the finance team and the company as a whole will be in excellent hands with him as Chief Financial Officer of First Business Bank,” Sloane said. “I want to thank Corey, the Board of Directors and all of my colleagues for the incredible opportunity they have given me to contribute to the special mission of this company and to the Madison community that I am so proud of. call me now.”

Sloane’s distinguished 40-year career includes serving as Chief Financial Officer of First Business Bank since 2016. Previously, he was Chief Financial Officer of Peoples Bancorp, Inc. and held various positions at WesBanco, Inc., including Vice President principal of strategic planning. Sloane holds a BSBA from Marshall University, a Leadership Certificate from the University of Wisconsin-Madison Graduate School of Banking, and is a Certified Public Accountant.

“Ed joined First Business Bank as Chief Financial Officer over six years ago, and we have benefited immensely from his decades of experience in regional and community banking,” added Chambas. “Nowhere is Ed’s impact on our organization more evident than in the exceptional finance and accounting team he has built for the Bank, including the development of a strong cadre of emerging leaders. I am very pleased that we can continue to rely on his expertise over the next 10 months as he and Brian continue to work closely together to support the continued execution of our growth initiatives and our overall strategic plan.

About First Business Bank

First Business Bank specializes in corporate banking services, including commercial banking and specialty finance, private banking and banking advisory services, and through its refined focus it offers expertise, accessibility and responsiveness. unmatched. Specialty finance solutions are provided by First Business Bank’s wholly owned subsidiary, First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). For more information, visit firstbusiness.bank.

This release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect the current views of First Business Bank with respect to future events and financial performance. Forward-looking statements are not based on historical information, but rather relate to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s expectations and on certain assumptions and estimates made by management and information available to it at the time the statements are made. These statements are based on general assumptions and are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the opinions, beliefs and projections expressed in these statements. These statements are subject to risks and uncertainties, including, without limitation, those described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other filings with the Securities and Exchange Commission.

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