First Business Financial Services posts record profits

First Business Financial Services, parent of First Business Bank in Madison, posted a record-setting $3.2 million in profits for the first quarter of 2013. The gains were achieved through an increase in the company’s loan portfolio and a reduction in loan delinquencies. Assets totaled $1.22 billion for the quarter, up from the $1.16 billion posted last year. Loans and leases unpaid for at least 90 days were cut nearly in half year to year, from $22.8 million in 2012 to $12.6 million this year, amounting to 1.03% of total assets, the lowest in five years.