First Business Bank-Milwaukee
18500 W. Corporate Drive, Brookfield
www.firstbusiness.com
Industry: Banking, financial services
Employees: 150
A financial institution the size of First Business Bank-Milwaukee could serve tens of thousands of customers, but it chooses to serve just around 3,000. The limited number of clients is all by design – and an intricate part of the firm’s unique business model.
First Business Bank-Milwaukee offers a full line of financial services, including commercial lending, treasury management, asset-based lending, equipment financing and leasing, and private banking for business owners and other high net individuals.
The firm focuses on building successful client relationships, rather than building brick-and-mortar locations, said the bank’s president Dave Vetta.
Recent bank scandals and a general distaste for Wall Street have many businesses re-evaluating their banking relationships. Reputation and relationships remain the lifeblood of the business.
“Consistency, predictability and reliability from a bank is huge right now,” Vetta said. “We take a lot of time getting to know our clients. People need to be able to trust their bank.”
The bank’s customer-driven approach allows bankers to give each client the highest quality of service and care, he said. That includes low client-to-advisor ratios, having industry experts on staff, and other measures such as holding three loan committees a week for faster turnaround times.
Funded by shareholders, First Business Bank earned about $8 million in revenue in 2011. Shares for the bank’s holding company, First Business Financial Services Inc. topped out at $23.00 a share, an increase of 75 percent over 2010, according to Vetta.
Record earnings in the first quarter, combined with the bank’s focus on clients has helped position the company as one of the largest and most reputable financial services firms in the region.
“We have plenty of money to lend to quality businesses,” Vetta said. “Successful companies have a lot of options, right now. They will not be disappointed.”
