Notable Holders of First Business Financial Services, Inc. (FBIZ)
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* Does Not Fully Represent All Holders
| Fund | Title | Shares | % Owned | Source |
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| DIMENSIONAL FUND ADVISORS LP | COM | 526,484 | 13.35% | 13F |
| BANC FUNDS CO LLC | Common | 458,694 | 11.63% | 13F |
| FIRST BUSINESS FINANCIAL SERVICES, INC. | Com | 361,311 | 9.16% | 13F |
| VANGUARD GROUP INC | COM | 344,841 | 8.74% | 13F |
| MANUFACTURERES LIFE INSURANCE CO | COM | 299,237 | 7.59% | 13F |
| BlackRock Fund Advisors | COM | 272,627 | 6.91% | 13F |
| M3F, Inc. | COMMON | 255,936 | 6.49% | 13F |
| STATE STREET CORP | COM | 173,718 | 4.40% | 13F |
| Pacific Ridge Capital Partners, LLC | COM | 164,621 | 4.17% | 13F |
| RENAISSANCE TECHNOLOGIES LLC | COM | 154,465 | 3.92% | 13F |
| Cutler Capital Management, LLC | COM | 151,416 | 3.84% | 13F |
| GEODE CAPITAL MANAGEMENT LLC | COM | 143,069 | 3.63% | 13F |
| FEDERATED INVESTORS INC /PA/ | COM | 116,133 | 2.94% | 13F |
| LSV ASSET MANAGEMENT | COM | 109,225 | 2.77% | 13F |
| River Oaks Capital LLC | COM | 97,183 | 2.46% | 13F |
| BlackRock Institutional Trust Company, N.A. | COM | 85,028 | 2.16% | 13F |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | COM | 84,069 | 2.13% | 13F |
| NORTHERN TRUST CORP | COM | 79,473 | 2.01% | 13F |
| BRIDGEWAY CAPITAL MANAGEMENT INC | COM | 77,314 | 1.96% | 13F |
| ALLIANCEBERNSTEIN L.P. | COM | 58,984 | 1.50% | 13F |
| Poehling Capital Management, LLC | COM | 58,327 | 1.48% | 13F |
| Goldman Sachs Asset Management, L.P. | CMN | 55,399 | 1.40% | 13F |
| ACADIAN ASSET MANAGEMENT LLC | COM | 52,398 | 1.33% | 13F |
| VISTA INVESTMENT MANAGEMENT | COM | 52,232 | 1.32% | 13F |
| AMERIPRISE FINANCIAL INC | COM | 48,457 | 1.23% | 13F |
| John W. Rosenthal Capital Management, Inc. | COM | 45,000 | 1.14% | 13F |
| Uncommon Cents Investing LLC | COM | 34,900 | 0.88% | 13F |
| BlackRock Investment Management, LLC | COM | 34,869 | 0.88% | 13F |
| Bank of New York Mellon CORP | COM | 33,109 | 0.84% | 13F |
| EA Series Trust | COM | 31,914 | 0.81% | 13F |
| Empowered Funds, LLC | COM | 31,914 | 0.81% | 13F |
| ROYAL BANK OF CANADA \ | COM | 31,022 | 0.79% | 13F |
| HOVDE CAPITAL ADVISORS LLC | COM | 24,867 | 0.63% | 13F |
| BANK OF AMERICA CORP /DE/ | COM | 24,024 | 0.61% | 13F |
| Gator Capital Management, LLC | COM | 23,850 | 0.60% | 13F |
| ANALYTIC INVESTORS INC/CA | COM | 23,458 | 0.59% | 13F |
| STIFEL FINANCIAL CORP | COM | 23,190 | 0.59% | 13F |
| FIRST TRUST ADVISORS LP | COM | 22,664 | 0.57% | 13F |
| Johnson Financial Group, Inc. | COM | 21,216 | 0.54% | 13F |
| SCHWAB CHARLES INVESTMENT MANAGEMENT INC | COM | 20,683 | 0.52% | 13F |
| MADISON SQUARE INVESTORS LLC. | COM | 19,590 | 0.50% | 13F |
| Nuveen Asset Management, LLC | COM | 18,599 | 0.47% | 13F |
| TIAA CREF INVESTMENT MANAGEMENT LLC | CS | 18,283 | 0.46% | 13F |
| US BANCORP \DE\ | COM | 17,884 | 0.45% | 13F |
| FRANKLIN RESOURCES INC | COM | 17,867 | 0.45% | 13F |
| BARCLAYS PLC | COM | 17,680 | 0.45% | 13F |
| RUSSELL FRANK CO/ | Common Stocks | 16,660 | 0.42% | 13F |
| Susquehanna International Group, LLP (PUT) | COM | 16,000 | 0.41% | 13F |
| Emerald Acquisition Ltd. | Common Stocks | 15,160 | 0.38% | 13F |
| HSBC HOLDINGS PLC | COM | 14,764 | 0.37% | 13F |
| MARTINGALE ASSET MANAGEMENT L P | COM | 14,623 | 0.37% | 13F |
| UBS Group AG | COM | 14,389 | 0.36% | 13F |
| TEACHERS ADVISORS INC | CS | 13,525 | 0.34% | 13F |
| TWO SIGMA ADVISERS, LLC | COM | 13,200 | 0.33% | 13F |
| MANAGED ACCOUNT ADVISORS LLC | COM | 12,861 | 0.33% | 13F |
| RHUMBLINE ADVISERS | COM | 11,480 | 0.29% | 13F |
| GLOBEFLEX CAPITAL L P | COM | 10,795 | 0.27% | 13F |
| Eidelman Virant Capital | COM | 10,500 | 0.27% | 13F |
| Invesco Ltd. | COM | 10,420 | 0.26% | 13F |
| Baird Financial Group, Inc. | COMMON | 9,240 | 0.23% | 13F |
| Kestra Advisory Services, LLC | COM | 9,200 | 0.23% | 13F |
| BMO FINANCIAL CORP | COM | 8,408 | 0.21% | 13F |
| Mattern Wealth Management LLC | COM | 8,000 | 0.20% | 13F |
| Riverwater Partners LLC | COM | 7,467 | 0.19% | 13F |
| PRUDENTIAL FINANCIAL INC | COM | 7,220 | 0.18% | 13F |
| THOMPSON INVESTMENT MANAGEMENT, INC. | COM | 6,020 | 0.15% | 13F |
| PRICE T ROWE ASSOCIATES INC /MD/ | COMM STK | 5,441 | 0.14% | 13F |
| BAIRD ROBERT W & CO INC /WI/ | COMMON | 4,928 | 0.12% | 13F |
| MetLife Investment Advisors, LLC | COM | 4,273 | 0.11% | 13F |
| Russell Investments Group, Ltd. | Common Stock | 3,452 | 0.09% | 13F |
| Allspring Global Investments Holdings, LLC | COM | 3,315 | 0.08% | 13F |
| BLACKROCK ADVISORS LLC | COM | 3,190 | 0.08% | 13F |
| WELLS FARGO & CO/MN | COM | 3,096 | 0.08% | 13F |
| Hillsdale Investment Management Inc. | COM | 2,700 | 0.07% | 13F |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | COMMON STOCK | 2,614 | 0.07% | 13F |
| DEUTSCHE BANK AG\ | COM | 2,385 | 0.06% | 13F |
| NEW YORK STATE COMMON RETIREMENT FUND | Common Stock | 2,263 | 0.06% | 13F |
| BNP PARIBAS ARBITRAGE, SA | Equity | 2,207 | 0.06% | 13F |
| LAZARD ASSET MANAGEMENT LLC | Common Stock | 1,404 | 0.04% | 13F |
| CITIGROUP INC | COM | 1,142 | 0.03% | 13F |
| UBS AG | COM | 988 | 0.03% | 13F |
| LEGAL & GENERAL GROUP PLC | COM | 816 | 0.02% | 13F |
| Mendota Financial Group, LLC | COM | 800 | 0.02% | 13F |
| AMALGAMATED BANK | COM | 783 | 0.02% | 13F |
| Advisor Group, Inc. | COM | 685 | 0.02% | 13F |
| Summit Investment Advisors, Inc. | COM | 601 | 0.02% | 13F |
| Fidelity Investments | COM | 406 | 0.01% | 13F |
