Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by First Business Financial Services, Inc. for the reporting period ending June 30, 2017. The document discloses the company's holdings of equity securities as required by the Securities and Exchange Commission. It does not contain operational financial statements, revenue data, or management commentary regarding the company's own business performance.
Key Financial Metrics
The filing text does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics for First Business Financial Services, Inc. Instead, it lists the value and quantity of securities held by the company. Key portfolio metrics include:
- Total Portfolio Value: The sum of the "Value" column (in thousands) across all listed holdings.
- Largest Holdings by Value:
- Vanguard Total Stock Market ETF: $144,398,000
- iShares MSCI EAFE ETF: $74,481,000
- Financial Select Sector SPDR ETF: $18,853,000
- Industrials Select Sector SPDR ETF: $19,240,000
- Energy Select Sector SPDR ETF: $16,141,000
- Self-Holding: The company holds 398,784 shares of its own common stock (First Business Financial Services), valued at $9,204,000, with voting authority classified as "None" (likely held in a treasury or restricted capacity).
Material Changes
The filing text does not provide data for the prior comparable period (e.g., March 31, 2017). Consequently, material changes in holdings, value, or voting authority cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing contains no guidance, outlook, management commentary, risk factors, or contingencies. It is a statutory disclosure of investment holdings only. The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investors to Verify
- Portfolio Composition: Verify the concentration of the portfolio in Exchange Traded Funds (ETFs) versus individual equities, as a significant portion of the value is held in broad market and sector ETFs (e.g., Vanguard, iShares, SPDR).
- Voting Authority: Note that for many holdings, voting authority is split between "Sole" and "Shared" or "None," which may impact corporate governance influence.
- Self-Holding Status: Confirm the nature of the 398,784 shares of First Business Financial Services stock held by the company, as the filing lists voting authority as "None" for this position.
- Valuation Basis: Verify that the "Value" column represents the fair market value at the end of the quarter (June 30, 2017) and not cost basis.