First Business Financial Services Inc. CFO James F. Ropella Announces Plans to Retire in Late 2014
February 20 2014 - 9:17AM
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.
The First Business Financial Services, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=2667
CONTACT: Barbara M. Conley
Senior Vice President and General Counsel
First Business Financial Services, Inc.
608-232-5902
bconley@firstbusiness.com
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