UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

_________________

Date of Report  
(Date of earliest
event reported): March 13, 2007

First Business Financial Services, Inc.
(Exact name of registrant as specified in its charter)

Wisconsin
0-51028
39-1576570
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)

401 Charmany Drive, Madison, Wisconsin 53719
(Address of principal executive offices, including zip code)

(608) 238-8008

(Registrant’s telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 7.01.      Regulation FD Disclosure.

        First Business Financial Services, Inc. (the “Company”) has issued a press release announcing that, on March 13, 2007, the Company’s Board of Directors declared a quarterly dividend of $0.065 per share, representing an increase of 8.3 percent over the Company’s prior quarterly dividend rate of $0.06 per share. The dividend is payable on April 16, 2007 to shareholders of record on April 1, 2007. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.

Item 9.01.      Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(c) Not applicable

(d) Exhibits. The following exhibit is being furnished herewith:

  (99.1) Press Release of First Business Financial Services, Inc., dated March 15, 2007.







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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST BUSINESS FINANCIAL SERVICES, INC.


Date:  March 15, 2007
By:  /s/ James F. Ropella
        James F. Ropella
        Senior Vice President and Chief Financial Officer










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FIRST BUSINESS FINANCIAL SERVICES, INC.

Exhibit Index to Current Report on Form 8-K

Exhibit
Number

99.1 Press Release of First Business Financial Services, Inc., dated March 15, 2007.