Exhibit 99.1

[FOR IMMEDIATE RELEASE]
First Business Financial Services, Inc.
401 Charmany Drive
Madison, WI 53719

FIRST BUSINESS REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS
-- Significant loan recovery and strong top line revenue drive record quarterly net income --

MADISON, Wis., October 25, 2018 (GLOBE NEWSWIRE) -- First Business Financial Services, Inc. (the “Company” or “First Business”) (NASDAQ:FBIZ) reported third quarter 2018 net income of $5.3 million highlighted by record net interest income, solid fee income, and a net provision benefit from a significant loan recovery which more than offset credit costs related to the legacy Small Business Administration (“SBA”) portfolio.

Summary results for the quarter ended September 30, 2018 include:
Net income totaled $5.3 million, compared to $3.3 million in the linked quarter and $2.6 million in the third quarter of 2017.
Diluted earnings per common share measured $0.60, compared to $0.38 and $0.30 for the linked and prior year quarters, respectively.
Annualized return on average assets and annualized return on average equity measured 1.11% and 12.06%, respectively, compared to 0.70% and 7.59% for the linked quarter and 0.58% and 6.22% for the third quarter of 2017.
Net interest margin was 3.75%, compared to 3.77% in the linked quarter and 3.52% for the third quarter of 2017.
Net interest income was $17.1 million, compared to $16.9 million in the linked quarter and $14.9 million for the third quarter of 2017.
Trust and investment services fee income totaled $1.9 million, down 2.3% compared to the linked quarter and up 17.4% from the third quarter of 2017.
Top line revenue, the sum of net interest income and non-interest income, increased 5.0% to $22.0 million from the linked quarter and 14.3% from the third quarter of 2017.
Provision for loan and lease losses was a net benefit of $546,000, compared to provision expense of $2.6 million for the linked quarter and $1.5 million for the third quarter of 2017. The decrease in provision was primarily due to liquidating collateral associated with the Wisconsin-based commercial and industrial loan previously disclosed as impaired during the first quarter of 2017.
SBA recourse provision was $314,000, compared to $99,000 in the linked quarter and $1.3 million for the third quarter of 2017.
The Company’s efficiency ratio measured 69.55%, compared to 67.07% for the linked quarter and 66.56% for the third quarter of 2017.
Record period-end gross loans and leases receivable of $1.599 billion grew 0.9% annualized during the third quarter and 9.0% from September 30, 2017.
Non-performing assets were $32.1 million at September 30, 2018, compared to $32.6 million and $35.8 million at June 30, 2018 and September 30, 2017, respectively.

“Third quarter 2018 results demonstrated our team’s commitment to asset quality resolution and improvement,” said Corey Chambas, President and Chief Executive Officer. “Through a tremendous amount of effort over the past 18 months, we were able to collect all contractual principal related to the Wisconsin-based C&I loan previously disclosed as impaired during the first quarter of 2017. This has been a long and arduous process, which resulted in a recovery of the $4.1 million in credit losses recorded in 2017 related to this loan.” Chambas added, “Aside from the significant loan recovery, the fundamentals of the Company continue to drive solid operating results, contributing to record top line revenue in the third quarter of 2018. While loan growth moderated in the quarter due to above average payoffs, the outlook for the rest of the year remains strong.”

Results of Operations
Net interest income was $17.1 million in the third quarter of 2018, compared to $16.9 million in the linked quarter and $14.9 million in the third quarter of 2017. The increase compared to the linked and prior year quarters was principally due to an increase in both average loans and leases outstanding and average loan and lease yields. Average gross loans and leases of $1.602 billion increased by $32.4 million, or 8.3% annualized, compared to the linked quarter and by $130.7 million, or

1

The following information was filed by First Business Financial Services, Inc. (FBIZ) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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