July 25--First Business Financial Services, Madison, reported net income of $3.5 million, or 88 cents a diluted share, for the second quarter that ended June 30, up from net income of $3.1 million, or 80 cents a diluted share, for the same period last year.
The parent company of First Business Bank, Madison, said the most recent figures included $320,000 in pre-tax expenses related to its planned merger with Aslin Group, parent company of Alterra Bank, of the Kansas City area. The merger is expected to take effect in late 2014, if regulators and Aslin stockholders approve.
For the second straight quarter, First Business reported no charge-offs, meaning no loans written off because they could not be collected.
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