First Business Bank delivered strong financial performance in the second quarter of 2021 which was highlighted by above market loan growth, diversified fee income, and improving asset quality metrics. Strong pipelines developed by an experienced team focused on high-touch client service and niche lending position us well for continued strong performance through the second half of 2021 and sustainable success over the long-term.
Second quarter 2021 net income was $8.2 million, up 148% from the prior year quarter, as net interest income expansion was supported by solid non-interest income generation. In addition, our improving asset quality metrics, along with the positive economic trends we’re seeing in our markets, resulted in a nearly $1.0 million provision benefit. Strong earnings in the second quarter, combined with record earnings reported in the linked first quarter, which you’ll recall also included a provision benefit, have resulted in First Business Bank’s best first half of the year ever.
