← FIRST BUSINESS FINANCIAL SERVICES, INC.

	FY 2016	FY 2017	FY 2018	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent	$14.9m	$11.9m	$16.3m	$23.3m	$17.0m	$35.8m	$40.9m	$37.0m	$44.2m	$50.3m
Net Income (Loss) Available to Common Stockholders, Basic	$14.7m	$11.7m	$16.1m	$22.8m	$16.6m	$35.8m	$40.2m	$36.2m	$43.4m	$49.4m
Depreciation and amortization	$1.5m	$1.6m	$1.5m	$3.0m	$3.5m	$0	$4.1m	$3.6m	$3.7m	$3.8m
Depreciation, Amortization and Accretion, Net	$1.5m	$1.6m	$1.5m	$3.0m	$3.5m	$3.6m	$4.1m	$3.6m	$3.7m	$3.8m
Depreciation	$767k	$744k	$835k	$877k	$822k	$585k	$578k	$961k	$1.1m	$1.2m
Deferred Income Tax Expense (Benefit)	($1.1m)	$1.7m	($432k)	($2.3m)	($2.0m)	$1.2m	($775k)	$2.1m	($3.5m)	($1.6m)
Share-based Payment Arrangement, Noncash Expense	$994k	$1.1m	$1.0m	$1.6m	$1.9m	$2.5m	$2.6m	$3.0m	$2.8m	$2.8m
Goodwill, Impairment Loss	—	$0	—	—	—	—	—	—	—	—
Impairment of Intangible Assets, Finite-lived	—	—	$69k	$25k	($16k)	($63k)	—	—	—	—
Operating Lease, Impairment Loss	—	—	—	$299k	$0	—	—	—	—	—
Gain (Loss) on Disposition of Assets	—	—	—	—	—	($78k)	$0	($73k)	($10k)	—
Gain (Loss) on Extinguishment of Debt	—	—	—	—	($744k)	$0	—	—	—	—
Income (Loss) from Equity Method Investments	$790k	$354k	$459k	—	—	—	—	—	—	—
Income Tax Expense (Benefit)	$2.2m	$2.3m	$1.4m	$1.2m	$1.3m	$11.3m	$11.4m	$10.1m	$6.9m	$10.1m
Operating Lease, Expense	—	—	—	$1.6m	$1.5m	$1.5m	$1.5m	—	—	—
Operating Lease, Lease Income	—	—	—	$9k	$113k	$170k	—	—	—	—
Additional Financial Items
Provision for Loan, Lease, and Other Losses	$7.8m	—	—	—	—	($5.8m)	—	—	—	—
Bank Owned Life Insurance Income	$974k	$1.2m	$1.2m	$1.2m	$1.4m	$1.4m	$2.2m	$1.5m	$1.6m	$2.8m
Gain (Loss) on Sales of Loans, Net	—	—	—	—	—	—	—	$2.1m	$1.9m	$1.9m
Proceeds from Stock Options Exercised	$0	$0	—	—	—	—	—	—	—	—
Parent Company	$4.2m	$4.5m	$4.9m	$5.2m	$5.7m	$6.2m	$6.7m	$7.6m	$8.3m	$9.7m
Debt Securities, Available-for-sale, Realized Gain (Loss)	—	—	—	—	—	$29k	$0	($45k)	($8k)	$0
Equipment Expense	$1.2m	$1.2m	$1.4m	$1.2m	$1.2m	$990k	$1.1m	$1.3m	$1.3m	$1.4m
Gain (Loss) on Sale of Mortgage Loans	$590k	$26k	$0	($1.5m)	($2.9m)	($4.0m)	($2.5m)	($2.1m)	($1.9m)	($1.9m)
General and Administrative Expense	$1.5m	$1.9m	$1.9m	—	—	—	—	—	—	—
Goodwill	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m	$10.7m
Financing Receivable, Credit Loss, Expense (Reversal)	—	—	—	—	—	($5.8m)	—	$8.2m	$8.8m	$8.7m
Net Cash Provided by (Used in) Operating Activities	$26.2m	$22.4m	$25.7m	$29.0m	$26.6m	$36.0m	$38.6m	$52.3m	$57.5m	$61.7m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	$584k	$1.2m	$969k	$225k	$264k	$391k	$3.2m	$2.9m	$223k	$595k
Payments to Acquire Businesses, Net of Cash Acquired	$0	—	—	—	—	—	—	—	—	—
Net Cash Provided by (Used in) Investing Activities	($44.3m)	($46.4m)	($138.3m)	($131.5m)	($454.5m)	($111.0m)	($245.3m)	($506.8m)	($328.5m)	($373.4m)
Cash flows from financing activities:
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$43.7m	$38.2m	$33.2m	$30.1m	$58.3m	$51.2m	$40.8m	$22.1m	$91.9m	$65.5m
Proceeds from Issuance of Common Stock	$0	—	—	$0	$66k	$160k	$134k	$128k	$144k	$143k
Payments for Repurchase of Common Stock	$467k	$323k	$533k	$7.2m	$1.7m	$5.5m	$6.1m	$3.0m	$1.3m	$1.4m
Payments of Ordinary Dividends, Common Stock	$4.2m	$4.5m	$4.9m	$5.2m	$5.7m	$6.2m	$6.7m	$7.6m	$8.3m	$9.7m
Net Cash Provided by (Used in) Financing Activities	($17.9m)	($1.0m)	$146.6m	$83.1m	$417.7m	$75.2m	$252.2m	$491.4m	$289.2m	$193.5m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	—	—	—	—	—	$57.1m	$102.7m	$139.5m	$157.7m	$39.5m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities	$14.8m	$14.9m	$22.3m	$33.0m	$18.4m	$13.2m	$20.1m	$75.5m	$109.6m	$111.4m
Income Taxes Paid, Net	$5.6m	$2.2m	$1.1m	$1.3m	$3.5m	$14.5m	$8.0m	$7.5m	$158k	$3.3m