First Business Financial Services operates through its wholly-owned subsidiary First Business Bank, a commercial bank headquartered in Madison, Wisconsin that focuses exclusively on small- to medium-sized businesses, business owners, and high-net-worth individuals. Unlike a typical retail bank, First Business Bank has no branch network and instead uses relationship managers and business development officers to serve clients across South Central Wisconsin, Southeast Wisconsin, Northeast Wisconsin, and the Kansas City metro. The core product is commercial lending, split between commercial real estate loans and commercial and industrial loans. Alongside conventional lending, First Business Bank runs several specialty C&I businesses — including asset-based lending, accounts receivable financing, equipment financing, floorplan financing for independent auto dealers, and SBA lending — which collectively carry higher yields than conventional loans and are targeted to grow from roughly 23% to 25-30% of total loans. First Business Bank also manages a private wealth business with $3.3B in assets under management and administration, offering trust, estate, investment management, and financial planning to high-net-worth clients. Revenue comes primarily from net interest income, supplemented by fee income from private wealth management, SBA loan sale premiums, swap fees, and treasury management. First Business Bank funds its loan book largely through in-market deposits, supplemented by wholesale funding, and uses a match-funding approach to minimize interest rate sensitivity. The company's growth strategy is entirely organic, centered on hiring business development officers and expanding specialty lending.