Latest news with #FirstBusinessBank
Miami Herald
7 days ago
- Business
- Miami Herald
Vero and First Business Bank Announce Successful Go-Live of Advanced Title Management System
NEW YORK, NY / ACCESS Newswire / May 29, 2025 / Vero Technologies, a leading provider of innovative financial technology solutions for asset-based lending, has successfully launched its Title Management System (TMS) with First Business Bank, streamlining the bank's title processing operations. Vero has enabled straight-through processing for the bank's entire title management workflow-delivering a new standard of efficiency and automation. This implementation marks a significant step forward in modernizing title management for financial institutions, eliminating manual processes, reducing processing times, and improving operational transparency. A Fully Automated Title Management Solution Through Vero's technology platform, First Business Bank now benefits from a seamlessly integrated, automated title workflow with key capabilities including: Bulk Digitalization & OCR Processing - High-volume title scanning powered by Optical Character Recognition (OCR) enables automated data extraction and Title-to-Asset Pairing - Seamless integration with First Business Bank's Loan Management System (LMS) ensures immediate reconciliation between physical and digital title API Integration - Automated shipping label generation and real-time tracking for title transfers and Scanning for Vaulted Title Tracking - A streamlined title storage and retrieval system, enhancing accuracy and security. Driving Efficiency & Scalability for First Business Bank By leveraging Vero's end-to-end automation tools, First Business Bank has significantly reduced the time and labor required for title processing, freeing up internal resources to focus on strategic initiatives and customer service. "Partnering with Vero to enhance our Title Management System has been a game-changer," said Jeff Widholm, Managing Director of Floorplan Financing at First Business Bank. "The ability to automate title intake, processing, and distribution has allowed us to scale more efficiently while improving service levels for our clients. This solution enables us to handle greater volume with precision and speed, reinforcing our commitment to delivering best-in-class financial services." Innovating the Future of Title Management Vero Technologies remains committed to driving efficiency and innovation across financial services by offering modular, API-driven technology solutions tailored to the needs of modern lenders. "Our collaboration with First Business Bank demonstrates the power of automation in title operations," said Isaac Zafarani, Co-Founder and COO at Vero Technologies. "By eliminating manual bottlenecks and streamlining workflows, we're helping financial institutions process titles faster, reduce errors, and enhance transparency. This launch is a milestone in our mission to modernize asset-based lending infrastructure." About First Business Bank First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank's wholly owned subsidiary First Business Specialty Finance, LLC®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit About Vero Technologies Vero Technologies is a leading financial technology platform for asset finance, providing end-to-end solutions for wholesale finance, trade finance, equipment finance, and title management. Vero's modular platform enables lenders to streamline loan servicing, risk monitoring, and operational workflows-enhancing efficiency while reducing costs. To learn more, visit Contact: Jason Bartz, info@ 404-383-7048 SOURCE: Vero Finance Technologies
Business Wire
05-05-2025
- Business
- Business Wire
First Business Bank Announces 2026 CEO Succession Plan
MADISON, Wis.--(BUSINESS WIRE)--First Business Financial Services, Inc. (the 'Company', the 'Bank', or 'First Business Bank') (Nasdaq:FBIZ) announced that Corey A. Chambas intends to retire from his role as Chief Executive Officer on May 2, 2026. The Company will name President and Chief Operating Officer David R. Seiler to succeed him as CEO effective the same date. Mr. Chambas will remain on the boards of directors of the Company and First Business Bank. 'On behalf of our Board and entire organization, I extend our deep appreciation to Corey for his visionary leadership, which has been instrumental in driving our growth, shaping our culture, preserving our mission, and building shareholder value over the past three decades,' said Jerry Kilcoyne, Chairman of the Board of Directors of the Company. 'Corey's commitment to First Business Bank's founding mission – to be the experts our business clients deserve – helped establish a culture that differentiates the Bank for our employees, clients, communities, and shareholders alike. Nowhere is Corey's impact on our organization more evident than in the outstanding leadership team of industry veterans and visionary contributors he has built. I am very pleased that we can continue to rely on his expertise over the next year as he and Dave work closely to support the ongoing execution of the Bank's strategic plan.' Mr. Chambas joined the Company in 1993 and has been Chief Executive Officer of First Business Financial Services, Inc. since January 2006 and served as its President from February 2005 to January 2023. Chambas stated, 'I am honored to have contributed to First Business Bank's exceptional growth and success, and I am humbled to lead the Company alongside my colleague and friend, Dave Seiler. Dave embodies First Business Bank's commitment to best-in-class client service, and he has been a trusted partner to me and the entire management team for nearly a decade. Dave's thirty plus years in the banking industry prior to joining First Business Bank equipped him with expertise that has been vital to our growth in size and sophistication. He has led all the Bank's revenue-generating business lines and most internal operations, and just as importantly lives out our culture, making him ideally suited to serve as our next CEO. I am confident his strategic vision for future success will create continued growth and value for all our stakeholders.' Mr. Seiler has been President and Chief Operating Officer of First Business Financial Services, Inc. since January 2023, following seven years of service as Chief Operating Officer. Prior to joining the Bank in April 2016, Seiler served in various leadership roles with leading commercial banking firms in the Midwest. Most recently, he served as Managing Director of the Correspondent Banking Division of BMO Harris Bank. Seiler earned a bachelor's degree in marketing and business administration and a master's degree in real estate appraisal and investment analysis from the University of Wisconsin - Madison. 'I will be honored to step into Corey's role as CEO and look forward to working together over the next year to ensure a smooth transition,' Seiler commented. 'I am excited to carry on Corey's forward-thinking vision, ensuring we position First Business Bank to thrive in the future. Most importantly, I will strive to protect and strengthen our culture which is foundational to our success.'
Yahoo
07-02-2025
- Business
- Yahoo
Why First Business Financial Services Inc (FBIZ) is Skyrocketing So Far In 2025
We recently compiled a list of the . In this article, we are going to take a look at where First Business Financial Services Inc (NASDAQ:FBIZ) stands against the other bank stocks. The banking sector is roaring back to life so far in 2025 as the economy has been stronger than what most analysts have expected. Banks are also shedding their conservative reputations and are starting to take more risks and spend on growth, especially as most companies are experimenting with AI. Plus, this is coinciding with a worldwide rate cut cycle as central banks in most countries ease monetary policy. Analysts are also bullish and have raised their price targets, whereas many retail and institutional investors are buying back in. The bank stocks benefiting the most from this are likely to be the strongest. Methodology For this article, I screened the top-performing bank stocks year-to-date. Stocks that I have covered recently will be excluded from this list. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds invest in? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here). A financial adviser in a tie using a modern laptop to conduct a commercial bank transaction. Number of Hedge Fund Holders In Q3 2024: 5 First Business Financial Services Inc (NASDAQ:FBIZ) is a bank holding company for First Business Bank. The stock is up markedly so far in 2025 due to record Q4 2024 earnings and optimistic guidance for 2025. It reported Q4 2024 net income of $14.4 million, which is up 47.5% year-over-year. Plus, adjusted EPS came in at $1.43, with management reaffirming targets for 10% annual revenue and balance sheet growth in 2025. It raised its quarterly dividend by 16% to $0.29/share (2.25% yield). Private Wealth assets under management surged 16.6% YoY to $3.4 billion. The consensus price target of $58.75 implies 4.26% upside. FBIZ stock is up 21.73% year-to-date. Overall FBIZ ranks 8th on our list of the bank stocks that are skyrocketing so far in 2025. While we acknowledge the potential of FBIZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FBIZ but that trades at less than 5 times its earnings, check out our report about the . READ NEXT: and Disclosure: None. This article was originally published at Insider Monkey.
