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 Officers
Item 5.02.
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 Officers
On March 30, 2020, First Business Financial Services, Inc. (the “Company”) announced that its Board of Directors has appointed Bradley A. Quade to serve as the Company’s Chief Credit Officer, effective March 31, 2020.
Mr. Quade, age 54, has been serving as the Company’s Deputy Chief Credit Officer since October 2019. He has over 30 years of experience in banking at publicly traded and privately-owned institutions and has led successful lending teams in commercial banking, investment real estate, equipment leasing, and treasury management. Mr. Quade holds a bachelor’s degree in Accounting and Finance from the University of Wisconsin-Milwaukee and is a Certified Public Accountant.
In conjunction with Mr. Quade’s appointment, Mr. Michael J. Losenegger, the Company’s current Chief Credit Officer, will cease to serve as Chief Credit Officer effective March 31, 2020 and will serve as the Senior Vice President of Credit Administration to facilitate the transition of the Chief Credit Officer position to Mr. Quade.
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.
