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Jerry Smith, chairman of First Business Financial Services, to retire

August 27, 2018

Jerry Smith, founding CEO of First Business Bank and its parent company, First Business Financial Services, will retire from his current position as chairman of the board of the holding company on Oct. 26.

Gerald Kilcoyne will succeed Smith as board chairman. Kilcoyne, a managing partner of Pinnacle Enterprises, has been a director of First Business Financial Services since November 2011.

Smith’s commercial banking career has spanned 50 years.

When he started First Business Bank in 1990, it was the first business-focused bank in the Midwest. The bank, based in Madison, now has $1.9 billion in assets, more than 150 employees, and four full-service branches in Madison, Milwaukee and Appleton, Wisconsin and in Kansas City, Kansas. It is the sixth largest full-service bank with headquarters in Wisconsin, based on asset size, as of June 30, 2018.

Smith will stay involved with the bank company as a consultant. “I am very grateful to have had the opportunity to build and grow First Business into a public company which supports a great team of employees and clients,” Smith said.

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