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First Business Financial Services' board OKs new stock buyback program

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First Business Financial Services' board OKs new stock buyback program

First Business Financial Services Inc. on Sept. 20 approved a new stock buyback program that authorizes the Madison, Wis.-based company to repurchase up to $5 million of its outstanding common shares over about 12 months, ending on Sept. 30, 2020.

In August, First Business Financial Services completed its prior $5 million share repurchase program, which was initiated in December 2018 and had a termination date of Dec. 31, 2019. The company bought 223,149 shares under the program at an average price of $22.36 per share.