    <SEC-DOCUMENT>0001521951-24-000025-index.html : 20240308
    <SEC-HEADER>0001521951-24-000025.hdr.sgml : 20240308
    <ACCEPTANCE-DATETIME>20240308082232
    ACCESSION NUMBER:		0001521951-24-000025
    CONFORMED SUBMISSION TYPE:	DEF 14A
    PUBLIC DOCUMENT COUNT:		41
    CONFORMED PERIOD OF REPORT:	20240426
    FILED AS OF DATE:		20240308
    DATE AS OF CHANGE:		20240308

    FILER:

    	COMPANY DATA:
    		COMPANY CONFORMED NAME:			FIRST BUSINESS FINANCIAL SERVICES, INC.
    		CENTRAL INDEX KEY:			0001521951
    		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
    		ORGANIZATION NAME:           	02 Finance
    		IRS NUMBER:				391576570
    		STATE OF INCORPORATION:			WI
    		FISCAL YEAR END:			1231

    	FILING VALUES:
    		FORM TYPE:		DEF 14A
    		SEC ACT:		1934 Act
    		SEC FILE NUMBER:	001-34095
    		FILM NUMBER:		24732419

    	BUSINESS ADDRESS:
    		STREET 1:		401 CHARMANY DRIVE
    		CITY:			MADISON
    		STATE:			WI
    		ZIP:			53719
    		BUSINESS PHONE:		608-238-8008

    	MAIL ADDRESS:
    		STREET 1:		401 CHARMANY DRIVE
    		STREET 2:		PO BOX 44961
    		CITY:			MADISON
    		STATE:			WI
    		ZIP:			53744

    	FORMER COMPANY:
    		FORMER CONFORMED NAME:	First Business Financial Services, Inc.
    		DATE OF NAME CHANGE:	20110527
    </SEC-HEADER>
    <DOCUMENT>
    <TYPE>DEF 14A
    <SEQUENCE>1
    <FILENAME>a2024fbfsproxy.htm
    <DESCRIPTION>DEF 14A
    <TEXT>
    Document 1 - file: a2024fbfsproxy.htm

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>2
    <FILENAME>all_servicesuitepiehorizon.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 2 - file: all_servicesuitepiehorizon.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>3
    <FILENAME>capture1.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 3 - file: capture1.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>4
    <FILENAME>capture2.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 4 - file: capture2.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>5
    <FILENAME>compensation_actuallyxpaid.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 5 - file: compensation_actuallyxpaid.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>6
    <FILENAME>compensation_actuallyxpaida.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 6 - file: compensation_actuallyxpaida.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>7
    <FILENAME>compensation_actuallyxpaidb.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 7 - file: compensation_actuallyxpaidb.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>8
    <FILENAME>cover.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 8 - file: cover.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>9
    <FILENAME>directorevaluationprocess_.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 9 - file: directorevaluationprocess_.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>10
    <FILENAME>eesurveyresultsforproxy.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 10 - file: eesurveyresultsforproxy.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>11
    <FILENAME>finalceoandneocharts.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 11 - file: finalceoandneocharts.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>12
    <FILENAME>goals.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 12 - file: goals.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>13
    <FILENAME>image.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 13 - file: image.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>14
    <FILENAME>image1.jpg
    <TEXT>
    Document 14 - file: image1.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>15
    <FILENAME>image_11.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 15 - file: image_11.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>16
    <FILENAME>image_14.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 16 - file: image_14.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>17
    <FILENAME>image_18.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 17 - file: image_18.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>18
    <FILENAME>image_30.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 18 - file: image_30.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>19
    <FILENAME>image_31.jpg
    <TEXT>
    Document 19 - file: image_31.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>20
    <FILENAME>image_32.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 20 - file: image_32.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>21
    <FILENAME>image_34.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 21 - file: image_34.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>22
    <FILENAME>image_35.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 22 - file: image_35.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>23
    <FILENAME>image_36.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 23 - file: image_36.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>24
    <FILENAME>image_37.jpg
    <TEXT>
    Document 24 - file: image_37.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>25
    <FILENAME>image_38.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 25 - file: image_38.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>26
    <FILENAME>image_4.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 26 - file: image_4.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>27
    <FILENAME>image_5.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 27 - file: image_5.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>28
    <FILENAME>image_8.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 28 - file: image_8.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>29
    <FILENAME>image_9.jpg
    <TEXT>
    Document 29 - file: image_9.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>30
    <FILENAME>incitem1.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 30 - file: incitem1.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>31
    <FILENAME>incitem2.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 31 - file: incitem2.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>32
    <FILENAME>incitem3.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 32 - file: incitem3.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>33
    <FILENAME>klorenz_teams.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 33 - file: klorenz_teams.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>34
    <FILENAME>meetingdate.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 34 - file: meetingdate.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>35
    <FILENAME>nps_overallsatisfactionxga.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 35 - file: nps_overallsatisfactionxga.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>36
    <FILENAME>proposal1.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 36 - file: proposal1.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>37
    <FILENAME>proposal2.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 37 - file: proposal2.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>38
    <FILENAME>proposal3.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 38 - file: proposal3.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>39
    <FILENAME>proxycard_1.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 39 - file: proxycard_1.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>40
    <FILENAME>proxycard_2.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 40 - file: proxycard_2.jpg

    </DOCUMENT>
    <DOCUMENT>
    <TYPE>GRAPHIC
    <SEQUENCE>41
    <FILENAME>sayonpayvote-chart.jpg
    <DESCRIPTION>GRAPHIC
    <TEXT>
    Document 41 - file: sayonpayvote-chart.jpg

    </DOCUMENT>
    </SEC-DOCUMENT>