First Business Financial Services will consolidate the charters of its three subsidiary banks, First Business Bank, headquartered in Madison, WI; First Business Bank – Milwaukee, headquartered in Brookfield, WI and Alterra Bank, headquartered in Leawood, KS.

The company’s existing products and services will be unchanged and offered under the names of First Business Bank in Wisconsin, Alterra in the Kansas City market and First Business for trust and investment management and specialty finance. The company’s existing management structure is also unchanged, with the current roles and decision making authority retained by First Business’s local banking leaders in Madison, Milwaukee and Kansas City, as well as the heads of First Business’s trust and investment management and specialty finance businesses.

“The First Business operating model was built upon efficiency, and simplifying our legal and governance structure is the next natural step in our evolution as a growing commercial bank,” said Corey Chambas, president and CEO. “The way we function internally will be streamlined and efficient, while still allowing us to continue a locally distinguishable presence across our markets. An overriding reason people and businesses choose to bank with First Business is the relationship they have with our local experts. Our ability to capitalize on the efficiencies of a single charter only enhances our ability to deliver on our value proposition.”

First Business Financial Services is a Wisconsin-based bank holding company and offers commercial banking, specialty finance and private wealth management solutions.