First Business Financial Services, Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total interest income of $18,600,000 compared to $16,863,000 a year ago. Net interest income was $14,912,000 compared to $13,595,000 a year ago. The increase from the linked quarter was primarily due to a $48.4 million increase in average loans and leases and a two basis point increase in net interest margin. Income before tax was $6,268,000 compared to $5,197,000 a year ago. Net income was $4,083,000 or $0.47 per basic and diluted share compared to $3,744,000 or $0.44 per basic and diluted share a year ago. Return on average assets (annualized) was 0.93% compared to 0.95% a year ago. Return on average equity (annualized) was 10.85% compared to 10.92% a year ago.

For the year, the company reported total interest income of $72,471,000 compared to $57,701,000 a year ago. Net interest income was $58,640,000 compared to $46,130,000 a year ago. Income before tax was $24,891,000 compared to $21,222,000 a year ago. Net income was $16,514,000 or $1.90 per basic and diluted share compared to $14,139,000 or $1.75 per diluted share a year ago. Book value per share as at December 31, 2015 was $17.34 compared to $15.88 a year ago. Tangible book value per share as at December 31, 2015 was $15.90 compared to $14.51 a year ago. Return on average assets (annualized) was 0.97% compared to 1.04% a year ago. Return on average equity (annualized) was 11.36% compared to 11.78% a year ago.

The company reported net charge-offs of $938,000 for the fourth quarter of 2015 compared to $838,000 in the fourth quarter of 2014.