First Business Financial Services, Inc. (NASDAQ:FBIZ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 26, 2018, Michael J. Murphy submitted his resignation as Chief Accounting Officer and Principal Accounting Officer from First Business Financial Services, Inc. (the “Company”) in order to pursue other interests after serving with the Company since 2015. Mr. Murphy will continue to serve until the effective date of his resignation on December 7, 2018. Mr.Murphy’s resignation is not a result of any disagreement with the Company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls.
On November 29, 2018, the Company’s Board of Directors appointed Peggy J. Stebbins, the Company’s Controller, as the Company’s Chief Accounting Officer and Controller and Principal Accounting Officer effective as of the date of Mr. Murphy’s resignation.
Ms. Stebbins, age 32, has been serving as the Company’s Controller since 2016.Previously, Ms. Stebbins served as Vice President – Controller of Anchor Bancorp Wisconsin, Inc. (Nasdaq: ABCW) prior to their acquisition by Old National Bancorp (Nasdaq: ONB), Vice President – Controller of Guaranty Bank, and as a Senior Accountant, specializing in the audits of financial institutions, with Baker Tilly Virchow Krause, LLP. She received a Masters in Public Accountancy and a BBA in Accounting from the University of Wisconsin-Whitewater. She is a Certified Public Accountant.
There have been no transactions and there are no currently proposed transactions to which the Company was or is a participant and in which Ms. Stebbins had or is to have a direct or indirect material interest that would require disclosure to Item 404(a) of Regulation S-K. Further, Ms. Stebbins is not related to any member of the Board or any executive officer of the Company.
About First Business Financial Services, Inc. (NASDAQ:FBIZ)
First Business Financial Services, Inc. (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks). The operations of FBFS are conducted through the Banks and certain subsidiaries of FBB. The Banks operate as business banks focusing on delivering a line of commercial banking products, including commercial loans and commercial real estate loans, and services to meet the needs of small- and medium-sized businesses, business owners, executives, professionals and high net worth individuals. Its business lines include commercial lending, asset-based financing, equipment financing, small business administration (SBA) lending, treasury management services, and trust and investment services. Its investments include short-term investments and securities.