Item 7.01. Regulation FD Disclosure.

First Business Financial Services, Inc. (the "Company") issued a press release today announcing that the Company's Board of Directors declared a quarterly cash dividend on its common stock of $0.2275 per share on January 27, 2023. The quarterly dividend represents a 15% increase over the quarterly cash dividend on common stock declared in October 2022. The dividend is payable on February 16, 2023, to shareholders of record on February 6, 2023. The Board of Directors also declared a dividend on its 7% Series A Preferred Stock, of $17.50 per share, payable on March 15, 2023, to shareholders of record on February 28, 2023. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.




Item 8.01. Other Events.

Effective January 27, 2023, the Board of Directors of the Company authorized the repurchase by the Company of shares of Common Stock with a maximum aggregate purchase price of $5.0 million, in such quantities, at such prices and on such other terms and conditions as the Company's Chief Executive Officer or Chief Financial Officer determine in their discretion to be in the best interests of the Company and its shareholders, any time from the effective date through January 31, 2024 (the "Repurchase Program"). The Board of Directors further authorized certain officers of the Company, in their discretion, to enter into a Rule 10b5-1 trading plan to allow the Company to effectuate repurchases under the Repurchase Program at such times as the Company and its directors and officers are or may be deemed to be in possession of material, non-public information, provided that such officers may enter into a Rule 10b5-1 trading plan only at such time as the Company and its directors and officers are not actually in possession of material, non-public information.

Item 9.01. Financial Statements and Exhibits.



(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits. The following exhibit is being furnished herewith:



           99.1             Press Release by First Business Financial Services, Inc. dated
                              January 27    ,     202    3    .
            104           Cover Page Interactive Data File (embedded within the Inline XBRL
                          Document)

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