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Servisfirst Bancshares Inc (SFBS) delivers innovative banking solutions through its ServisFirst Bank subsidiary, serving commercial and consumer clients across the southern United States. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and strategic initiatives.
Access verified press releases and analysis covering earnings announcements, leadership changes, product launches, and regulatory filings. Our curated collection ensures efficient tracking of SFBS's growth in commercial banking, digital services expansion, and correspondent banking partnerships.
Key updates include quarterly financial results, branch network developments, treasury management innovations, and community banking collaborations. Bookmark this page for direct access to primary source materials that inform understanding of SFBS's market position and operational strategy.
ServisFirst Bancshares, Inc. (NYSE: SFBS), the holding company for ServisFirst Bank, has announced a quarterly cash dividend of $0.30 per share. The dividend was declared by the Board of Directors at a meeting held on September 16, 2024. It will be payable on October 8, 2024, to stockholders of record as of October 1, 2024. This announcement demonstrates ServisFirst's commitment to returning value to its shareholders through regular dividend payments.
ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), has received an exclusive statewide co-endorsement from the Texas Bankers Association (TBA) for its Agent Credit Card program. This endorsement allows TBA members to issue credit cards with their own bank's logo to commercial and retail customers. The program offers four card types, including platinum benefits and cash back rewards for both consumers and businesses, as well as a customized purchase card program for enhanced business control.
ServisFirst Bank provides credit card marketing and portfolio management services at no cost to TBA member banks. This marks ServisFirst Bank's tenth state endorsement, following previous endorsements from various state banking associations and the American Bankers Association since 2018.
ServisFirst Bancshares (NYSE:SFBS) has been ranked fourth among top publicly traded banks with assets between $10 billion to $50 billion, based on 2023 year-end data. This marks the third consecutive year ServisFirst has achieved a top-five ranking, and it's the only Alabama bank in the top ten.
The ranking, compiled by Capital Performance Group and published by American Banker, is based on each institution's three-year average return on average equity (ROAE). ServisFirst Bancshares, with $16 billion in assets, reported impressive financial metrics:
- 3-year average ROAE: 18.38%
- Return on average assets (ROAA): 1.37%
- Net interest margin (NIM): 2.81%
- Nonperforming assets/total assets: 0.13%
- Core deposits/total deposits: 91.30%
Top-performing banks maintained higher liquidity in 2023, contributing to their profitability in a rising rate environment. They also demonstrated stronger core deposit growth, helping to minimize deposit cost increases and support net interest margins.
ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), has opened its 14th office in Alabama, located in Auburn-Opelika. The expansion is supported by the addition of seven experienced banking professionals, including David Reaves as Market President, bringing a combined 138 years of banking and financial experience. The new 2,400 sq.-ft. office is situated at 2272 Moores Mill Road, Suite 210, Auburn, Alabama, 36830.
The office is currently offering commercial, personal, and residential loans, with plans to provide full-service banking by the end of the year. This strategic growth emphasizes ServisFirst Bank's commitment to excellence and customer service in the Auburn-Opelika community.
ServisFirst Bancshares (NYSE: SFBS) reported Q2 2024 earnings with diluted EPS growing from $0.92 in Q1 2024 to $0.95 in Q2 2024. Key highlights include:
- Net interest margin increased 13 basis points from Q1 2024
- Deposits grew 16% annualized from Q1 2024 and 8% year-over-year
- Loans grew 15% annualized from Q1 2024 and 6% year-over-year
- Non-performing assets to total assets at 0.23%
- Book value per share up 11% year-over-year to $27.71
- Entered the Auburn-Opelika, Alabama market
The bank reported strong loan and deposit growth, with net income of $52.1 million for Q2 2024, up 4.2% from Q1 2024 but down 2.5% year-over-year. Return on average assets was 1.34% and return on average equity was 14.08% for Q2 2024.
ServisFirst Bancshares (NYSE: SFBS) will release its second-quarter 2024 financial results on July 15, 2024, at 4 p.m. ET.
The results will be accessible on www.servisfirstbancshares.com.
An earnings discussion via live audio webcast is scheduled for the same day at 5:15 p.m. ET, also available on their website. The webcast replay will be available until July 31, 2024.
ServisFirst Bancshares (NYSE: SFBS) has declared a quarterly cash dividend of $0.30 per share. The announcement was made during a board meeting on June 17, 2024. Shareholders on record as of July 1, 2024, will receive the dividend payment on July 9, 2024. This reflects the company's commitment to returning value to its shareholders.
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