David R. Seiler was named President and Chief Executive Officer of First Business Financial Services, Inc., effective May 3, 2026. As of November 6, 2026, First Business Financial Services, Inc. has reported 4 leadership change filings to the SEC under Item 5.02 of Form 8-K, from April 14, 2026 to May 28, 2026, naming 5 appointments (Form 8-K, May 11, 2026).
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Key facts
- · In / out: In · Person: Scott M. Ferris · 8-K, 2026-05-28
- · In / out: In · Person: David R. Seiler · Role: President and Chief Executive Officer · Effective: 2026-05-03 · 8-K/A, 2026-05-11
- · In / out: In · Person: David R. Seiler · Role: President and Chief Executive Officer · Effective: 2026-05-03 · 8-K, 2026-04-16
- · In / out: Reported · Person: not named in the filing · 8-K, 2026-04-14
First Business Financial Services, Inc. reported changes in 4 filings among its directors and officers to the SEC on Form 8-K, Item 5.02, from 2026-04-14 to 2026-05-28. They name 2 people. Every row below is cited to the filing it comes from, and this page adds each new change as First Business Financial Services, Inc. files it.
Timeline
| Filed | In / out | Person | Role | Effective | Source |
|---|---|---|---|---|---|
| 2026-05-28 | In | 8-K, 2026-05-28 | |||
| 2026-05-11 | In | President and Chief Executive Officer | 2026-05-03 | 8-K/A, 2026-05-11 | |
| 2026-05-11 | In | 2026-05-03 | 8-K/A, 2026-05-11 | ||
| 2026-04-16 | In | President and Chief Executive Officer | 2026-05-03 | 8-K, 2026-04-16 | |
| 2026-04-16 | In | 2026-05-03 | 8-K, 2026-04-16 | ||
| 2026-04-14 | Reported | not named in the filing | 8-K, 2026-04-14 |
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Who leads First Business Financial Services, Inc., as last reported?
For each role that changed in the filings below, the most recent change reported. A role that did not change in these filings is not listed.
- President and Chief Executive Officer: David R. Seiler, appointed, effective 2026-05-03 (filed 2026-05-11).
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Find candidates like President and Chief Executive Officer at First Business Financial Services, Inc.Every change, in the filing's words
Appointed: Scott M. Ferris
On May 22, 2026 the Board of Directors (the "Board") of First Business Financial Services, Inc. (the "Company") increased the number of Directors constituting the entire Board from eight (8) to nine (9), and, in accordance with Section 3.10 of the Company's Amended and Restated By-laws, appointed Mr. Scott M. Ferris as a Class III Director to fill the vacancy created by this increase.
- Mr. Ferris was also appointed to the Board's Audit Committee and Operational Risk Committee.
- Mr. Ferris retired from BMO Financial Group in 2025, where he served as the Managing Director responsible for the commercial banking business within the Financial Institutions Group from November 2006 to January 2025.
- He joined BMO Harris Bank in 1985 and held various roles across commercial and corporate banking before assuming senior leadership positions within the Financial Institutions Group.
- Mr. Ferris brings deep expertise in credit, liquidity, market, and operational risk management, along with experience working with banking and market regulators.
- The Board has determined that Mr. Ferris is an "independent director" for purposes of the applicable rules of the Nasdaq Stock Market and the Securities exchange Act of 1934, as amended.
Appointed: David R. Seiler, President and Chief Executive Officer, effective 2026-05-03
Appointment of David R. Seiler as President and Chief Executive Officer and a Director On April 15, 2026, the Board of Directors of First Business Financial Services, Inc. (the "Company") appointed David R. Seiler as President and Chief Executive Officer of the Company, effective May 3, 2026.
Appointed: David R. Seiler, effective 2026-05-03
Also on April 15, 2026, Mr. Seiler was appointed to the Company's Board of Directors effective May 3, 2026.
- Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
- Mr. Seiler will succeed Corey A. Chambas, whose retirement from his role as the Company's Chief Executive Officer was announced in May 2025.
- Mr. Seiler will serve as a Class III Director, to hold office until the Company's 2028 Annual Meeting of Shareholders and until his successor is duly elected and qualified.
- Mr. Seiler has served as the President and Chief Operating Officer of the Company since January 3, 2023.
- He previously served as Chief Operating Officer of the Company from 2016 to January 2, 2023.
- He has served as a director and chair of the First Business Specialty Finance, LLC Board of Directors since 2021.
- Mr. Seiler brings over 30 years of financial services experience with leading commercial banking firms in the Midwest.
- Prior to joining the Company, he served as Managing Director of the Correspondent Banking Division of BMO Harris Bank.
- He received 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.
- Mr. Seiler is a board member of and a volunteer with Big Brothers Big Sisters of Dane County.
Appointed: David R. Seiler, President and Chief Executive Officer, effective 2026-05-03
Appointment of David R. Seiler as President and Chief Executive Officer and a Director On April 15, 2026, the Board of Directors of First Business Financial Services, Inc. (the "Company") appointed David R. Seiler as President and Chief Executive Officer of the Company, effective May 3, 2026.
Appointed: David R. Seiler, effective 2026-05-03
Also on April 15, 2026, Mr. Seiler was appointed to the Company's Board of Directors effective May 3, 2026.
- Mr. Seiler will succeed Corey A. Chambas, whose retirement from his role as the Company's Chief Executive Officer was announced in May 2025.
- Mr. Seiler will serve as a Class III Director, to hold office until the Company's 2028 Annual Meeting of Shareholders and until his successor is duly elected and qualified.
- Mr. Seiler has served as the President and Chief Operating Officer of the Company since January 3, 2023.
- He previously served as Chief Operating Officer of the Company from 2016 to January 2, 2023.
- He has served as a director and chair of the First Business Specialty Finance, LLC Board of Directors since 2021.
- Mr. Seiler brings over 30 years of financial services experience with leading commercial banking firms in the Midwest.
- Prior to joining the Company, he served as Managing Director of the Correspondent Banking Division of BMO Harris Bank.
- He received 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.
- Mr. Seiler is a board member of and a volunteer with Big Brothers Big Sisters of Dane County.
- Employment Agreement On April 15, 2026, First Business Financial Services, Inc. (the "Company") entered into an Employment Agreement (the "Agreement") with David R. Seiler, effective as of May 3, 2026 (the "Effective Date").
Reported
The Committee determined that the Company's performance at a "Superior" level under each of the TSR and ROATCE performance goals during the performance period resulted in the payout of the Company's common stock to each of the Company's Named Executive Officers listed below: Named Executive Officers Shares Vested Corey A. Chambas 10,370 James E. Hartlieb 2,730 Bradley A. Quade 2,740 David R. Seiler 4,780 Brian D. Spielmann 3,190
- Effective April 9, 2026, the Compensation Committee (the "Committee") of the Board of Directors of First Business Financial Services, Inc. (the "Company") approved the vesting of the Performance Restricted Stock Units, or "PRSUs", granted to eligible executive officers of the Company in 2023 under its Long-Term Incentive Plan for the performance measurement period beginning in 2023 and ending in 2025 (the "2023 Award").
- The vesting of the 2023 Award was determined by Total Shareholder Return ("TSR") and Return on Average Tangible Common Equity ("ROATCE") Company performance goals.
- As noted in the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on March 5, 2026 (the "Proxy Statement"), as of the date of the Proxy Statement, the number of shares earned under the 2023 Award was unknown due to the unavailability of final ROATCE information.
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Where this comes from
A public company must file a current report on Form 8-K with the SEC within four business days when a director leaves or is elected, or when its chief executive, chief financial, chief accounting or chief operating officer, or another named executive, departs or is appointed. That disclosure goes under Item 5.02 of the report.
Every change on this page is taken from one of those filings and quoted in the company's own words, with a link to the filing, so it can be checked at the source. Where a filing names the person, the role and the date a change takes effect, they are shown beside the quote. Where it does not, the quote stands on its own. A filing states what changed; it rarely states why, and neither does this page.