Corey Chambas Madison-based First Business Financial Services Inc. announced today that chief executive officer Corey Chambas plans to retire on May 2, 2026, and that the company will promote president and chief operating officer David Seiler to succeed him on the same date. Seiler has been president and COO of First
[caption id="attachment_612140" align="alignleft" width="300"] Corey Chambas[/caption]
Madison-based First Business Financial Services Inc. announced today that chief executive officer Corey Chambas plans to retire on May 2, 2026, and that the company will promote president and chief operating officer David Seiler to succeed him on the same date.
Seiler has been president and COO of First Business Bank since January of 2023 following seven years as just COO. He joined the bank in 2016 after serving as managing director of the Correspondent Banking Division for BMO.
“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 said. “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.”
[caption id="attachment_612141" align="alignleft" width="300"] David Seiler[/caption]
Chambas will remain on the board of directors. He joined the company in 1993 and has been CEO since January of 2006, and served as president from February of 2005 to January of 2023.
“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 for First Business Bank. “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.”
“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,” Chambas said. “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 30-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 of 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 of our stakeholders.”
