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<TITLE>FORM S-8</TITLE>
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<DIV style=margin-left:72pt;width:468pt><HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>As filed with the Securities and Exchange Commission on </B><B>May</B><B> 14</B><B>, 2021</B></FONT></P>
<P align=right style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Registration No. 333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>UNITED STATES</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Washington, DC 20549</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:14pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>FORM S-8</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit>__________________</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>FIRST BUSINESS FINANCIAL SERVICES, INC.</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(Exact name of registrant as specified in its charter)</FONT></P>
<TABLE align=center style=border-collapse:collapse;width:93.34%><TR><TD colspan=2 valign=middle><P align=center style='font:8pt Times New Roman;margin:0'>&nbsp;</P>
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<TR><TD valign=middle style=width:50%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:50%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Wisconsin</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(State or other jurisdiction of</FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>incorporation or organization)</FONT></P>
</TD><TD valign=bottom style=padding:1.5pt><P align=center style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>39-1576570</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(I.R.S. Employer</FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>Identification No.)</FONT></P>
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<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit>__________________</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>401 </B><B>Charmany</B><B> Drive, Madison, WI 53719</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(Address of Principal Executive Offices) (Zip Code)</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit>__________________</FONT></P>
<P align=center style='font:10pt inherit;margin:0'><B>First Business Financial Services, Inc. 2019 Equity Incentive Plan</B></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(Full title of the plan)</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit>__________________</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Corey A. Chambas</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Chief Executive Officer</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>First Business Financial Services, Inc.</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>401 </B><B>Charmany</B><B> Drive</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Madison, Wisconsin 53719</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(Name and address of agent for service)</FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>(608) 238-8008</B></FONT></P>
<P align=center style='font:8pt inherit;margin-top:0pt;margin-bottom:6pt'>(Telephone number, including area code, of agent for service)</P>
<P align=center style='font:8pt Times New Roman;margin:0;color:#000000'>With copies to:</P>
<P align=center style='font:10pt Times New Roman;margin:0;color:#000000'><B>C.J. Wauters</B></P>
<P align=center style='font:10pt Times New Roman;margin:0;color:#000000'><B>Godfrey &amp; Kahn, S.C.</B></P>
<P align=center style='font:10pt Times New Roman;margin:0;color:#000000'><B>833 East Michigan Street, Suite 1800</B></P>
<P align=center style='font:10pt Times New Roman;margin:0;color:#000000'><B>Milwaukee, Wisconsin 53202</B></P>
<P align=center style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:6pt;color:#000000'><B>(414) 273-3500</B></P>
<P align=justify style='font:9pt Times New Roman;margin:0;text-indent:36pt'><FONT style=font-family:inherit>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule&#160;12b-2 of the Exchange Act.</FONT></P>
<TABLE align=center style=border-collapse:collapse;width:70.3%><TR><TD colspan=2 valign=middle><P align=justify style='font:9pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
</TD></TR>
<TR><TD valign=middle style=width:46%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:54%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit>Large accelerated filer [&#160;&#160;]</FONT></P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit>Accelerated filer [x]</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit>Non-accelerated filer [&#160;&#160;]</FONT></P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit>Smaller reporting company [x]</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit>&#160;</FONT></P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:9pt Times New Roman;margin:0'><FONT style=font-family:inherit>Emerging growth company [&#160;&#160;]</FONT></P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin-top:6pt;margin-bottom:0pt;text-indent:36pt'><FONT style='font:9pt inherit'>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act </FONT><FONT style='font:9pt Wingdings'><FONT face=Wingdings>&#111;</FONT></FONT></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>CALCULATION OF REGISTRATION FEE</B></FONT></P>
<TABLE align=center style=border-collapse:collapse;width:93.34%><TR><TD colspan=5 valign=middle><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=middle style=width:27%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:19%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:18%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:18%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:18%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Title of securities</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>to be registered</B></FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Amount to be</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>registered(1)</B></FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Proposed maximum</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>offering price</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>per share(2)</B></FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Proposed maximum</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>aggregate</B></FONT></P>
<P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>offering price(2)</B></FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit><B>Amount of registration fee</B></FONT></P>
</TD></TR>
<TR><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>Common Stock, $0.01 par value per share</FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>180,000</FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>$26.215</FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000;border-right:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>$4,718,700.00</FONT></P>
</TD><TD valign=bottom style='padding:1.5pt;border-top:3px double #000000;border-left:0.75pt solid #000000;border-bottom:0.75pt solid #000000'><P align=center style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>$514.81</FONT></P>
</TD></TR>
</TABLE>
<TABLE style=border-collapse:collapse><TR><TD valign=middle style=width:27pt><P align=center style='font:8pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top><P style='font:8pt inherit;margin:0'>&nbsp;</P>
<P style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(1)</FONT></P>
</TD><TD valign=top><P align=justify style='font:8pt inherit;margin:0'>&nbsp;</P>
<P align=justify style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>Reflects 180,000 shares of common stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), of First Business Financial Services, Inc. (the&#160;&#8220;Registrant&#8221;) issuable pursuant to the First Business Financial Services, Inc. 2019 Equity Incentive Plan (the &#8220;Plan&#8221;). &nbsp;In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the&#160;&#8220;Securities Act&#8221;), this Registration Statement on Form S-8 also registers any additional securities that may become issuable in connection with terms of the Plan that provide for a change in the amount of securities being offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions. </FONT></P>
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<P style='font:10pt Times New Roman;margin:0'></P>
<TABLE style=border-collapse:collapse><TR><TD valign=middle style=width:27pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=top><P style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>(2)</FONT></P>
</TD><TD valign=top><P align=justify style='font:8pt Times New Roman;margin:0'><FONT style=font-family:inherit>Estimated solely for the purpose of calculating the registration fee in accordance with Rules 457(c) and 457(h) under the Securities Act, based upon the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Select Market on May<B> </B>12, 2021.</FONT></P>
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<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><A name=s00fae9ed0ed44f54abb7435840e9f40f />&nbsp;</P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:12pt;color:#000000'><FONT style=font-family:inherit><B>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</B></FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'><FONT style=font-family:inherit>This Registration Statement is being filed by First Business Financial Services, Inc. (the &#8220;Registrant&#8221;) pursuant to General Instruction&#160;E to Form&#160;S-8 under the Securities Act. &#160;The information included and incorporated by reference in the registration statement on Form&#160;S-8 filed by the Registrant (Registration No.&#160;333-231418) pursuant to the Securities Act on May 13, 2019, is incorporated by reference into this Registration Statement.</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>Exhibits</B></FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><FONT style='color:#0000FF;border-bottom:1px solid #0000FF'><A href='http://www.sec.gov/Archives/edgar/data/1521951/000152195121000031/def14aproxystmt2020.htm' style=text-decoration:none><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-36pt'>4.1</KBD></A></FONT>First Business Financial Services, Inc. 2019 Equity Incentive Plan, as amended April 30, 2021 (incorporated by reference to Appendix A to the Company&#8217;s Definitive Proxy Statement filed with the Securities and Exchange Commission on Schedule 14A on March 9, 2021 (File No. 001-34095)).&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'><a href="exhibit51.htm" style="-sec-extract:exhibit">5.1</a></KBD><KBD style=margin-left:36pt></KBD>Opinion of Godfrey &amp; Kahn, S.C.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>23.1</KBD><KBD style=margin-left:36pt></KBD>Consent of Godfrey &amp; Kahn, S.C. (included in Exhibit 5.1)&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'><a href="exhibit232.htm" style="-sec-extract:exhibit">23.2</a></KBD><KBD style=margin-left:36pt></KBD>Consent of Crowe LLP&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;color:#000000'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'>24.1 </KBD><KBD style=margin-left:36pt></KBD>Power of Attorney (included in the signature page to this Registration Statement)&nbsp;</P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'><B>SIGNATURES</B></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Madison, State of Wisconsin, on May 14, 2021.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:216pt'>FIRST BUSINESS FINANCIAL SERVICES, INC.</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:216pt'>By:&#160;&#160;&#160;&#160; <FONT style='border-bottom:1px solid #000000'>/s/ Corey A. Chambas&#160;&#160;&#160;&#160;&#160;</FONT></P>
<P style='font:10pt Times New Roman;margin:0;text-indent:27pt;margin-left:216pt'>Corey A. Chambas</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:27pt;margin-left:216pt'>President and Chief Executive Officer</P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'><B>POWERS OF ATTORNEY</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Each of the undersigned officers and directors of First Business Financial Services, Inc. hereby constitutes and appoints each of Corey A. Chambas, Edward J. Sloane, Jr. and Barbara M. Conley his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution in each of them for him or her and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8 and to file the same, with all exhibits thereto and any other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:91.98%><TR><TD valign=middle style=width:30%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:19%><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><B>Signature</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><B>Title</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=bottom style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'><B>Date</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Corey A. Chambas</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Corey A. Chambas</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>Chief Executive Officer</P>
<P style='font:10pt Times New Roman;margin:0'>(principal executive officer)</P>
</TD><TD valign=middle style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Edward G. Sloane, Jr</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Edward G. Sloane, Jr.</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>Chief Financial Officer</P>
<P style='font:10pt Times New Roman;margin:0'>(principal financial officer)</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style=font-size:10pt>May 14, 2021</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Brian D. Spielmann</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Brian D. Spielmann</P>
</TD><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>Chief Accounting Officer</P>
<P style='font:10pt Times New Roman;margin:0'>(principal accounting officer)</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style=font-size:10pt>May 14, 2021</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Gerald L. Kilcoyne</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Gerald L. Kilcoyne</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Chair of the Board of Directors</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style=font-size:10pt>May 14, 2021</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Laurie S. Benson</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Laurie S. Benson</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style=font-size:10pt>May 14, 2021</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Mark D. Bugher</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Mark D. Bugher</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=padding:1.5pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style=font-size:10pt>May 14, 2021</FONT></P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Carla C. Chavarria</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Carla C. Chavarria</P>
</TD><TD valign=middle style=padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=middle style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
</TABLE>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><TABLE align=center style=border-collapse:collapse;width:90.64%><TR><TD valign=bottom style=width:40.32%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:4pt'><B>Signature</B></P>
</TD><TD valign=bottom style=width:33.96%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:4pt'><B>Title</B></P>
</TD><TD valign=bottom style=padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin-top:0pt;margin-bottom:4pt'><B>Date</B></P>
</TD></TR>
</TABLE>
<TABLE align=center style=border-collapse:collapse;width:91.98%><TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Jan A. Eddy</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Jan A. Eddy</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ John J. Harris</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>John J. Harris</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Ralph R. Kauten</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Ralph R. Kauten</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Timothy J. Keane</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Timothy J. Keane</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ W. Kent Lorenz</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>W. Kent Lorenz</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Daniel P. Olszewski</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Daniel P. Olszewski</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom style=width:30.3%;padding:1.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'>/s/ Carol P. Sanders</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Carol P. Sanders</P>
</TD><TD valign=middle style=width:51.28%;padding:1.5pt><P align=justify style='font:10pt Times New Roman;margin:0'>Director</P>
</TD><TD valign=top style=width:18.42%;padding:1.5pt><P align=center style='font:10pt Times New Roman;margin:0'>May 14, 2021</P>
</TD></TR>
</TABLE>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'></DIV>
</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "fbizs8.htm", "description": "FORM S-8", "secsgml_size_bytes": 35955}]
{"company-data": {"conformed-name": "FIRST BUSINESS FINANCIAL SERVICES, INC.", "cik": "0001521951", "assigned-sic": "6022", "irs-number": "391576570", "state-of-incorporation": "WI", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-256132", "film-number": "21924422"}, "business-address": {"street1": "401 CHARMANY DRIVE", "city": "MADISON", "state": "WI", "zip": "53719", "phone": "608-238-8008"}, "mail-address": {"street1": "401 CHARMANY DRIVE", "street2": "PO BOX 44961", "city": "MADISON", "state": "WI", "zip": "53744"}, "former-company": {"former-conformed-name": "First Business Financial Services, Inc.", "date-changed": "20110527"}}
FORM S-8
As filed with the Securities and Exchange Commission on
May
14
, 2021
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
__________________
FIRST BUSINESS FINANCIAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
Wisconsin
(State or other jurisdiction of
incorporation or organization)
39-1576570
(I.R.S. Employer
Identification No.)
__________________
401
Charmany
Drive, Madison, WI 53719
(Address of Principal Executive Offices) (Zip Code)
__________________
First Business Financial Services, Inc. 2019 Equity Incentive Plan
(Full title of the plan)
__________________
Corey A. Chambas
Chief Executive Officer
First Business Financial Services, Inc.
401
Charmany
Drive
Madison, Wisconsin 53719
(Name and address of agent for service)
(608) 238-8008
(Telephone number, including area code, of agent for service)
With copies to:
C.J. Wauters
Godfrey & Kahn, S.C.
833 East Michigan Street, Suite 1800
Milwaukee, Wisconsin 53202
(414) 273-3500
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer [  ]
Accelerated filer [x]
Non-accelerated filer [  ]
Smaller reporting company [x]
Emerging growth company [  ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act
o
CALCULATION OF REGISTRATION FEE
Title of securities
to be registered
Amount to be
registered(1)
Proposed maximum
offering price
per share(2)
Proposed maximum
aggregate
offering price(2)
Amount of registration fee
Common Stock, $0.01 par value per share
180,000
$26.215
$4,718,700.00
$514.81
(1)
Reflects 180,000 shares of common stock, par value $0.01 per share (the "Common Stock"), of First Business Financial Services, Inc. (the "Registrant") issuable pursuant to the First Business Financial Services, Inc. 2019 Equity Incentive Plan (the "Plan").  In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 also registers any additional securities that may become issuable in connection with terms of the Plan that provide for a change in the amount of securities being offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions.
(2)
Estimated solely for the purpose of calculating the registration fee in accordance with Rules 457(c) and 457(h) under the Securities Act, based upon the average of the high and low prices of the Common Stock as reported on the Nasdaq Global Select Market on May
12, 2021.
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
This Registration Statement is being filed by First Business Financial Services, Inc. (the "Registrant") pursuant to General Instruction E to Form S-8 under the Securities Act.  The information included and incorporated by reference in the registration statement on Form S-8 filed by the Registrant (Registration No. 333-231418) pursuant to the Securities Act on May 13, 2019, is incorporated by reference into this Registration Statement.
Exhibits
4.1
First Business Financial Services, Inc. 2019 Equity Incentive Plan, as amended April 30, 2021 (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement filed with the Securities and Exchange Commission on Schedule 14A on March 9, 2021 (File No. 001-34095)).
5.1
Opinion of Godfrey & Kahn, S.C.
23.1
Consent of Godfrey & Kahn, S.C. (included in Exhibit 5.1)
23.2
Consent of Crowe LLP
24.1
Power of Attorney (included in the signature page to this Registration Statement)
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Madison, State of Wisconsin, on May 14, 2021.
FIRST BUSINESS FINANCIAL SERVICES, INC.
By:
/s/ Corey A. Chambas
Corey A. Chambas
President and Chief Executive Officer
POWERS OF ATTORNEY
Each of the undersigned officers and directors of First Business Financial Services, Inc. hereby constitutes and appoints each of Corey A. Chambas, Edward J. Sloane, Jr. and Barbara M. Conley his or her true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution in each of them for him or her and in his or her name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement on Form S-8 and to file the same, with all exhibits thereto and any other documents in connection therewith, with the Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as fully and to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Corey A. Chambas
Corey A. Chambas
Chief Executive Officer
(principal executive officer)
May 14, 2021
/s/ Edward G. Sloane, Jr
Edward G. Sloane, Jr.
Chief Financial Officer
(principal financial officer)
May 14, 2021
/s/ Brian D. Spielmann
Brian D. Spielmann
Chief Accounting Officer
(principal accounting officer)
May 14, 2021
/s/ Gerald L. Kilcoyne
Gerald L. Kilcoyne
Chair of the Board of Directors
May 14, 2021
/s/ Laurie S. Benson
Laurie S. Benson
Director
May 14, 2021
/s/ Mark D. Bugher
Mark D. Bugher
Director
May 14, 2021
/s/ Carla C. Chavarria
Carla C. Chavarria
Director
May 14, 2021
Signature
Title
Date
/s/ Jan A. Eddy
Jan A. Eddy
Director
May 14, 2021
/s/ John J. Harris
John J. Harris
Director
May 14, 2021
/s/ Ralph R. Kauten
Ralph R. Kauten
Director
May 14, 2021
/s/ Timothy J. Keane
Timothy J. Keane
Director
May 14, 2021
/s/ W. Kent Lorenz
W. Kent Lorenz
Director
May 14, 2021
/s/ Daniel P. Olszewski
Daniel P. Olszewski
Director
May 14, 2021
/s/ Carol P. Sanders
Carol P. Sanders
Director
May 14, 2021