First Business Financial Services Inc. CFO James F. Ropella
Announces Plans to Retire in Late 2014
MADISON, Wis., Feb. 20, 2014 (GLOBE NEWSWIRE) — James F. Ropella,
Senior Vice President and Chief Financial Officer of First Business
Financial Services Inc. (Nasdaq:FBIZ), today announced his plans to
retire from his position during the fourth quarter of 2014.
As CFO, Ropella has helped lead First Business through a period of high
performance and growth, during which the company grew from a $300
million asset bank to a $1.3 billion asset publicly-traded company. In
order to ensure a smooth transition, Ropella will remain in his
position at First Business as the company conducts a thorough search
for his replacement. The company anticipates establishing a longer-term
consulting arrangement with Ropella following his retirement.
“Jim is a skilled and savvy financial executive whose professionalism
and expertise have been instrumental in the success of our
organization, as well as the creation of long-term value for our
shareholders,” said Corey Chambas, President and Chief Executive
Officer. “We deeply appreciate his role in building First Business into
a strong and thriving publicly-held bank. We wish him the best in his
retirement, and are pleased that he has agreed to partner with us in
executing a seamless transition to a new Chief Financial Officer over
the remainder of 2014.”
A 30-year commercial banking veteran, Ropella joined First Business in
2000 as CFO. Five years later, he led the process of taking the company
public, and under his financial leadership, First Business executed a
follow-on offering in December 2012, raising more than $29 million of
capital to support the company’s ongoing growth and expansion
strategies. Since the December 2012 offering, First Business has
provided a total return to shareholders of nearly 80%, well exceeding
the banking industry average of 40%.
“It’s been a privilege to be part of such a capable and
forward-thinking leadership team, and I value all the professional and
personal opportunities I’ve experienced with First Business,” Ropella
said. “The decision to retire was made easier by my full confidence
that First Business has the exceptional leadership, strong financials,
right strategy, and committed team to grow and thrive in any economic
environment.”
Following the transition, Ropella will be able to join his family
full-time in California, which he has been commuting to for the last
three years. Until then, he will remain fully engaged as CFO as the
company conducts a thorough search for his successor.
About First Business Financial Services, Inc.
First Business Financial Services (Nasdaq:FBIZ) is a $1.3 billion
Wisconsin-based bank holding company that specializes in focused
financial solutions for businesses, key executives, and high net worth
individuals through its operating companies. It is the 2nd largest
Wisconsin-based commercial bank holding company listed on NASDAQ or
NYSE. Its companies include: First Business Bank – Madison; First
Business Bank – Milwaukee; First Business Bank – Northeast; First
Business Trust & Investments; First Business Equipment Finance, LLC;
and First Business Capital Corp. For additional information, visit
www.firstbusiness.com or call (608) 238-8008.
CONTACT: Barbara M. Conley
Senior Vice President and General Counsel
First Business Financial Services, Inc.
608-232-5902
bconley@firstbusiness.com
