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July 30, 2015 11:46 PM ET

Banks

Company Overview of ServisFirst Bancshares, Inc.

Company Overview

ServisFirst Bancshares, Inc. operates as the bank holding company for ServisFirst Bank that provides banking services to individual and corporate customers. It offers various deposit products, such as demand, time, savings, and other deposits; checking, money market, and IRA accounts; and various certificates of deposits. The company also provides commercial lending products, such as seasonal loans, bridge loans, and term loans for working capital, expansion of the business, or acquisition of property, plant, and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as ho...

850 Shades Creek Parkway

Birmingham, AL 35209

United States

Founded in 2005

298 Employees

Phone:

205-949-0302

Key Executives for ServisFirst Bancshares, Inc.

Chief Executive Officer, President, Director, Chief Executive Officer of ServisFirst Bank, President of ServisFirst Bank and Director of ServisFirst Bank
Age: 60
Total Annual Compensation: $725.0K
Chief Financial Officer, Executive Vice President, Secretary, Treasurer, Chief Financial Officer of ServisFirst Bank, Executive Vice President of ServisFirst Bank, Secretary of ServisFirst Bank and Treasurer of ServisFirst Bank
Age: 60
Total Annual Compensation: $368.0K
Chief Operating Officer, Executive Vice President of Servisfirst Bank, Chief Operating Officer of Servisfirst Bank and Executive Vice President
Age: 58
Total Annual Compensation: $420.8K
Executive Vice President, Executive for Correspondent Banking, Executive Vice President of Servisfirst Bank and Executive for Correspondent Banking of Servisfirst Bank
Age: 57
Total Annual Compensation: $392.0K
Chief Credit Officer, Senior Vice President, Chief Credit Officer of Servisfirst Bank and Senior Vice President of Servisfirst Bank
Age: 63
Total Annual Compensation: $233.8K
Compensation as of Fiscal Year 2014.

ServisFirst Bancshares, Inc. Key Developments

ServisFirst Bancshares, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Charge-Offs for the Second Quarter Ended June 30, 2015

ServisFirst Bancshares, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of USD 44,209,000 against USD 35,424,000 a year ago. Net interest income was USD 40,211,000 against USD 31,978,000 a year ago. Net interest income after provision for loan losses was USD 36,149,000 against USD 29,540,000 a year ago. Income before income tax was USD 21,441,000 against USD 17,061,000 a year ago. Net income was USD 14,469,000 against USD 11,585,000 a year ago. Net income available to common stockholders was USD 14,346,000 against USD 11,469,000 a year ago. Diluted earnings per common share were USD 0.54 against USD 0.46 a year ago. Book value per share was USD 16.05 as on June 30, 2015 against USD 13.74 as on June 30, 2014. Tangible book value per share was USD 15.35 as on June 30, 2015 against USD 13.74 as on June 30, 2014. Return on average assets was 1.31% against 1.28% a year ago. Return on average common stockholders' equity was 14.06% against 15.03% a year ago. Core diluted earnings per share were USD 0.54 against USD 0.51 a year ago. Core return on average assets was 1.31% against 1.41% a year ago. Core return on average common stockholders' equity was 14.06% against 16.54% a year ago. Core net income was USD 14,469,000 against USD 12,740,000 a year ago. Core net income available to common stockholders was USD 14,346,000 against USD 12,624,000 a year ago. The increase in net interest income on a linked quarter basis is attributable to a USD 239.2 million increase in average loans outstanding, a USD 94.7 million increase in non-interest-bearing deposits and a USD 21.4 million increase in average stockholders' equity, all resulting in a positive mix change in balance sheet. For the six months, the company reported total interest income of USD 84,992,000 against USD 69,705,000 a year ago. Net interest income was USD 77,248,000 against USD 62,827,000 a year ago. Net interest income after provision for loan losses was USD 70,781,000 against USD 58,075,000 a year ago. Income before income tax was USD 40,399,000 against USD 34,048,000 a year ago. Net income was USD 27,524,000 against USD 23,343,000 a year ago. Net income available to common stockholders was USD 27,301,000 against USD 23,127,000 a year ago. Diluted earnings per common share were USD 1.04 against USD 0.97 a year ago. Return on average assets was 1.39% against 1.32% a year ago. Return on average common stockholders' equity was 13.81% against 15.61% a year ago. Core diluted earnings per share were USD 1.10 against USD 1.03 a year ago. Core return on average assets was 1.37% against 1.41% a year ago. Core return on average common stockholders' equity was 14.70% against 16.70% a year ago. Core net income was USD 29,291,000 against USD 24,955,000 a year ago. Core net income available to common stockholders was USD 29,068,000 against USD 24,739,000 a year ago. For the quarter, the company reported net charge-offs of USD 1,398,000 against USD 1,182,000 a year ago.

ServisFirst Bancshares, Inc. Announces Completion of $35 Million Subordinated Debt Offering

ServisFirst Bancshares, Inc. announced the closing of a $34.75 million private placement of 5% Subordinated Notes due July 15, 2025. The Notes have been sold to accredited investors and the offering was fully subscribed. ServisFirst completed the offering without an outside underwriter due in part to the recently earned investment-grade ratings from Kroll Bond Rating Agency. ServisFirst intends to use the net proceeds from the issuance of the Notes to redeem its preferred stock, issued June 21, 2011, to the U.S. Department of the Treasury, through the Small Business Lending Fund (SBLF) program.

ServisFirst Bancshares, Inc. to Report Q2, 2015 Results on Jul 20, 2015

ServisFirst Bancshares, Inc. announced that they will report Q2, 2015 results at 4:00 PM, US Eastern Standard Time on Jul 20, 2015

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