First Business Financial Services, parent company of First Business Bank, reported record net income of $3.8 million in the fourth quarter, a 49 percent increase over the fourth quarter of 2012.
Net income for the year was $13.7 million, a 54 percent increase, and also a record.
The company attributed the improvement to higher net interest margin, loan growth and aggressive asset management.
The company declared a quarterly dividend of 21 cents per share, payable Feb. 21 to shareholders of record on Feb. 11. The dividend was increased 50 percent over 2012 payments.
First Business Services is a $1.3 billion bank holding company. It's subsidiaries include First Business Bank-Northeast, which has an office in Green Bay.
First Business Financial Services is traded under the FBIZ symbol on the NASDAQ stock exchange.