ServisFirst Bancshares, Inc. Announces Results for Third Quarter of 2026
Loan growth and higher net interest income accompanied lower quarter-end deposits and a larger loan-loss provision.
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Rhea-AI Summary
ServisFirst Bancshares (NYSE: SFBS) reported third-quarter 2026 net income of $87.3 million, up from the same quarter a year earlier. Diluted earnings per share rose to $0.80 from $0.60. Net interest income increased to $159.8 million from $133.4 million, while net interest margin reached 3.63%, versus 3.09% a year earlier and unchanged sequentially.
Ending loans grew 10.7% year over year to $14.74 billion. Ending deposits fell 3.2% sequentially to $14.09 billion. The loan-loss provision rose to $14.9 million from $9.3 million a year earlier. The efficiency ratio improved to 30.20% from 35.22% a year earlier but worsened from 29.65% sequentially. After quarter-end, the company authorized its first repurchase program for up to two million shares through December 31, 2027. It also completed a two-for-one stock split during the quarter.
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Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointThird-quarter net income rose 33.2% year over year and 1.8% sequentially to $87.308 million.
- Moderate pointNet interest income reached $159.8 million, versus $133.4 million a year earlier and $155.6 million sequentially.
- Moderate pointNet interest margin reached 3.63%, versus 3.09% a year earlier and unchanged sequentially.
- Moderate pointEnding loans grew 10.7% year over year and 1.8% sequentially to $14.74 billion.
- Moderate pointAverage deposits increased 1.4% year over year to $14.33 billion.
- Moderate pointNoninterest income increased to $13.1 million from $2.8 million in third-quarter 2025.
- Moderate pointEfficiency ratio improved to 30.20% from 35.22% a year earlier, but worsened from 29.65% sequentially.
- Moderate point. Forward-looking: it has not happened yet and may not happen.First stock repurchase program authorizes up to two million common shares through December 31, 2027.
16 minor points
- Minor pointThird-quarter diluted EPS rose 33.3% year over year and 2.6% sequentially to $0.80.
- Minor pointNoninterest-bearing deposits rose 12.0% year over year to $2.910281 billion, but fell 2.8% sequentially.
- Minor pointInterest-bearing deposit rates fell to 2.80% from 3.41% a year earlier, unchanged sequentially.
- Minor pointInvestment yields rose to 3.85%, versus 3.60% a year earlier and 3.82% sequentially.
- Minor pointFederal funds purchased rates fell to 3.78% from 4.46% a year earlier, but rose from 3.74% sequentially.
- Minor pointEquipment and occupancy expense fell 6.5% year over year and 14.7% sequentially to $3.4 million.
- Minor pointProcessing and other services expense fell 0.2% year over year to $8.1 million, but rose 1.5% sequentially.
- Minor pointQuarterly return on average assets reached 1.89%, versus 1.47% a year earlier and 1.91% sequentially.
- Minor pointQuarterly return on average common equity reached 17.26%, versus 14.88% a year earlier and 17.71% sequentially.
- Minor pointYear-to-date net income increased 34.6% to $256.072 million; diluted EPS rose 34.5% to $2.34.
- Minor pointYear-to-date return on average assets increased to 1.90% from 1.44% in 2025.
- Minor pointYear-to-date return on average common equity increased to 17.62% from 15.01% in 2025.
- Minor pointBook value per share rose 14% year over year to $18.63.
- Minor pointCommon equity tier 1 capital ratio increased to 11.98% from 11.49% in third-quarter 2025.
- Minor pointStockholders’ equity increased 14.4% year over year and 3.0% sequentially to $2.037346 billion.
- Minor pointEffective tax rate fell to 17.21% from 19.94% sequentially, but exceeded 16.81% a year earlier.
Negative
- Moderate pointEnding deposits declined 3.2% sequentially and 0.1% year over year to $14.09 billion.
- Moderate pointLoan-loss provision increased to $14.9 million, versus $11.7 million sequentially and $9.3 million a year earlier.
- Minor pointAnnualized net charge-offs to average loans rose to 0.21% from 0.11% sequentially, versus 0.27% a year earlier.
- Minor pointLoan yields fell to 6.24% from 6.34% a year earlier, but rose from 6.23% sequentially.
- Minor pointSalary and benefit expense rose 5.5% year over year and 2.5% sequentially to $26.9 million.
2 minor points
- Minor pointProfessional services expense rose 5.1% year over year to $2.0 million, but fell 12.4% sequentially.
- Minor pointOther operating expenses rose 46.9% year over year and 33.2% sequentially to $8.9 million.
Key Figures
- Diluted EPS
- $0.80; up 33% year over year
- Third quarter 2026
- Net income
- $87.3 million; up 33.2% year over year
- Third quarter 2026
- Ending loan growth
- $1.43 billion; 10.7% year over year
- Loans at September 30, 2026
- Net interest margin
- 3.63%; up 54 basis points year over year
- Third quarter 2026
- Noninterest-bearing deposit growth
- 12% year over year
- Third quarter 2026
- Share repurchase authorization
- Up to 2 million shares through December 31, 2027
- Inaugural program announced subsequent to quarter-end
- Efficiency ratio
- 30.20%, compared with 35.22%
- Third quarter 2026 versus third quarter 2025
- Common equity tier 1 capital ratio
- 11.98%, compared with 11.49%
- Third quarter 2026 versus third quarter 2025
Previous Earnings Reports
-
Second-quarter results included EPS growth and a 3.63% net interest margin.
-
Third-quarter results reported EPS of $1.20 and loan growth; the price reaction was negative.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
non-gaap financial measures financial
net interest margin financial
common equity tier 1 capital regulatory
nonaccrual status financial
allowance for credit losses financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
BIRMINGHAM, Ala., Oct. 19, 2026 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc. (NYSE: SFBS) today announced earnings and operating results for the quarter ended September 30, 2026.
Third Quarter 2026 Highlights and Financial Summary:
- Diluted earnings per share of
$0.80 for the quarter, up33% from the third quarter of 2025, and up23% from adjusted diluted earnings per share in the third quarter of 2025*. - Loans grew by
$1.43 billion , or11% , year-over-year. - Net interest margin of
3.63% , unchanged from the second quarter of 2026; excluding a loan recovery in the previous quarter, NIM was 5 basis points higher, and up 54 basis points compared to the third quarter of 2025. - Noninterest-bearing deposits increased
12% year-over-year. - Completed our two-for-one stock split during the quarter**.
- Subsequent to quarter-end, the Company announced its inaugural stock repurchase program, authorizing the repurchase of up to two million shares of common stock through December 31, 2027.
- Book value per share of
$18.63 , up14% year-over-year. - Efficiency ratio of
30.20% , improved from35.22% in the third quarter of 2025. - Year-to-date return on average common stockholders’ equity increased from
15.01% in 2025 to17.62% in 2026, and year-to-date adjusted return on average common stockholders’ equity* increased from15.85% to17.61% . - Consolidated common equity tier 1 capital to risk-weighted assets increased from
11.49% in the third quarter of 2025 to11.98% in the third quarter of 2026.
Tom Broughton, Chairman, President, and CEO, said, “We see solid economic trends, and loan activity is improving with continued growth in our loan pipeline.”
David Sparacio, CFO, said, “We continue to grow our top line revenue through asset and margin growth, while maintaining a best-in-class efficiency ratio, resulting in top quartile returns.”
| FINANCIAL SUMMARY (UNAUDITED) (in Thousands except per share data) | Period Ended September 30, 2026 | Period Ended June 30, 2026 | % Change From Period Ended June 30, 2026 to Period Ended September 30, 2026 | Period Ended September 30, 2025 | % Change From Period Ended September 30, 2025 to Period Ended September 30, 2026 | ||||||||||||||||
| QUARTERLY OPERATING RESULTS | |||||||||||||||||||||
| Net Income | $ | 87,308 | $ | 85,793 | 1.8 | % | $ | 65,571 | 33.2 | % | |||||||||||
| Net Income Available to Common Stockholders | $ | 87,308 | $ | 85,762 | 1.8 | % | $ | 65,571 | 33.2 | % | |||||||||||
| Diluted Earnings Per Share | $ | 0.80 | $ | 0.78 | 2.6 | % | $ | 0.60 | 33.3 | % | |||||||||||
| Return on Average Assets | 1.89 | % | 1.91 | % | 1.47 | % | |||||||||||||||
| Return on Average Common Stockholders' Equity | 17.26 | % | 17.71 | % | 14.88 | % | |||||||||||||||
| Average Diluted Shares Outstanding | 109,390 | 109,406 | 109,336 | ||||||||||||||||||
| Adjusted Net Income, net of tax* | $ | 87,197 | $ | 85,793 | 1.6 | % | $ | 71,422 | 22.1 | % | |||||||||||
| Adjusted Net Income Available to Common | |||||||||||||||||||||
| Stockholders, net of tax* | $ | 87,197 | $ | 85,762 | 1.7 | % | $ | 71,422 | 22.1 | % | |||||||||||
| Adjusted Diluted Earnings Per Share, net of tax* | $ | 0.80 | $ | 0.78 | 2.6 | % | $ | 0.65 | 23.1 | % | |||||||||||
| Adjusted Return on Average Assets, net of tax* | 1.89 | % | 1.91 | % | 1.60 | % | |||||||||||||||
| Adjusted Return on Average Common | |||||||||||||||||||||
| Stockholders' Equity, net of tax* | 17.24 | % | 17.71 | % | 16.21 | % | |||||||||||||||
| YEAR-TO-DATE OPERATING RESULTS | |||||||||||||||||||||
| Net Income | $ | 256,072 | $ | 190,219 | 34.6 | % | |||||||||||||||
| Net Income Available to Common Stockholders | $ | 256,041 | $ | 190,188 | 34.6 | % | |||||||||||||||
| Diluted Earnings Per Share | $ | 2.34 | $ | 1.74 | 34.5 | % | |||||||||||||||
| Return on Average Assets | 1.90 | % | 1.44 | % | |||||||||||||||||
| Return on Average Common Stockholders' Equity | 17.62 | % | 15.01 | % | |||||||||||||||||
| Average Diluted Shares Outstanding | 109,395 | 109 | |||||||||||||||||||
| Adjusted Net Income, net of tax* | $ | 255,961 | $ | 200,779 | 27.5 | % | |||||||||||||||
| Adjusted Net Income Available to Common | |||||||||||||||||||||
| Stockholders, net of tax* | $ | 255,930 | $ | 200,748 | 27.5 | % | |||||||||||||||
| Adjusted Diluted Earnings Per Share, net of tax* | $ | 2.34 | $ | 1.84 | 27.3 | % | |||||||||||||||
| Adjusted Return on Average Assets, net of tax* | 1.90 | % | 1.52 | % | |||||||||||||||||
| Adjusted Return on Average Common | |||||||||||||||||||||
| Stockholders' Equity, net of tax* | 17.61 | % | 15.85 | % | |||||||||||||||||
| BALANCE SHEET | |||||||||||||||||||||
| Total Assets | $ | 18,319,690 | $ | 18,345,498 | (0.1 | ) | % | $ | 17,584,199 | 4.2 | % | ||||||||||
| Loans | 14,737,303 | 14,478,489 | 1.8 | % | 13,311,967 | 10.7 | % | ||||||||||||||
| Noninterest-bearing Demand Deposits | 2,910,281 | 2,995,402 | (2.8 | ) | % | 2,598,895 | 12.0 | % | |||||||||||||
| Total Deposits | 14,087,378 | 14,548,730 | (3.2 | ) | % | 14,106,922 | (0.1 | ) | % | ||||||||||||
| Stockholders' Equity | 2,037,346 | 1,978,418 | 3.0 | % | 1,781,647 | 14.4 | % | ||||||||||||||
* This press release includes certain non-GAAP financial measures: adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average common stockholders’ equity, adjusted efficiency ratio, tangible common stockholders' equity, total tangible assets, tangible book value per share, tangible common equity to total tangible assets, adjusted net interest income, adjusted noninterest income, and adjusted noninterest expense. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”
**All share and per-share amounts presented reflect the Company’s two-for-one stock split during the quarter, including retrospective adjustments to prior-period amounts.
Note: Amounts presented in this report may not sum to the totals due to rounding.
DETAILED FINANCIALS
ServisFirst Bancshares, Inc. reported net income and net income available to common stockholders of
Annualized return on average assets was1.
Net interest income was
Average loans for the third quarter of 2026 were
Average total deposits for the third quarter of 2026 were
Nonperforming assets to total assets were
Noninterest income was
Noninterest expense increased
Our effective tax rate was
About ServisFirst Bancshares, Inc.
ServisFirst Bancshares, Inc. (the “Company”) is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank (the “Bank”), the Company provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, Texas and Virginia. Through the Bank, we originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions.
ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (“SEC”). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbancshares.com.
Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) and Section 27A of the Securities Act of 1933, as amended (the “Securities Act”). The words “believe,” “expect,” “anticipate,” “project,” “plan,” “intend,” “will,” “could,” “would,” “might” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. The Company cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to the Company, are necessarily estimates reflecting the judgment of the Company’s senior management and involve risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including, but not limited to: general economic conditions, especially in the credit markets and in the Southeast; the impact of tariffs, trade wars and other conflicts on general economic conditions; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes as a result of our reclassification as a large financial institution by the Federal Deposit Insurance Corporation ("FDIC"); changes in our loan portfolio and the deposit base; possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued or re-emerging inflationary pressures and the ability of the U.S. Congress to increase the U.S. statutory debt limit as needed; computer hacking or cyber-attacks resulting in unauthorized access to confidential or proprietary information; substantial, unexpected or prolonged changes in the level or cost of liquidity; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and the value of collateral; the effect of natural disasters, such as hurricanes and tornados, in our geographic markets; and increased competition from both banks and nonbank financial institutions. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our most recent Annual Report on Form 10-K, "Forward-Looking Statements" and "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. The Company assumes no obligation to update or revise any forward-looking statements that are made from time to time.
More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at www.servisfirstbancshares.com or by calling (205) 949-0302.
Contact: ServisFirst Bank
Davis Mange (205) 949-3420
dmange@servisfirstbank.com
| SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED) | |||||||||||||||||||||
| (in Thousands except per share data) | |||||||||||||||||||||
| 3rd Quarter 2026 | 2nd Quarter 2026 | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | |||||||||||||||||
| CONSOLIDATED STATEMENT OF INCOME | |||||||||||||||||||||
| Interest income | $ | 257,353 | $ | 249,880 | $ | 241,480 | $ | 251,388 | $ | 251,308 | |||||||||||
| Interest expense | 97,539 | 94,243 | 93,332 | 104,867 | 117,860 | ||||||||||||||||
| Net interest income | 159,814 | 155,637 | 148,148 | 146,521 | 133,448 | ||||||||||||||||
| Provision for credit losses | 15,245 | 11,412 | 10,637 | 7,922 | 9,463 | ||||||||||||||||
| Net interest income after provision for credit losses | 144,569 | 144,225 | 137,511 | 138,599 | 123,985 | ||||||||||||||||
| Noninterest income | 13,112 | 12,892 | 10,840 | 15,691 | 2,833 | ||||||||||||||||
| Noninterest expense | 52,229 | 49,961 | 47,384 | 46,683 | 47,996 | ||||||||||||||||
| Income before income tax | 105,452 | 107,156 | 100,967 | 107,607 | 78,822 | ||||||||||||||||
| Provision for income tax | 18,144 | 21,363 | 17,996 | 21,223 | 13,251 | ||||||||||||||||
| Net income | 87,308 | 85,793 | 82,971 | 86,384 | 65,571 | ||||||||||||||||
| Preferred stock dividends | - | 31 | - | 31 | - | ||||||||||||||||
| Net income available to common stockholders | $ | 87,308 | $ | 85,762 | $ | 82,971 | $ | 86,353 | $ | 65,571 | |||||||||||
| Earnings per share - basic | $ | 0.80 | $ | 0.78 | $ | 0.76 | $ | 0.79 | $ | 0.60 | |||||||||||
| Earnings per share - diluted | $ | 0.80 | $ | 0.78 | $ | 0.76 | $ | 0.79 | $ | 0.60 | |||||||||||
| Average diluted shares outstanding | 109,390 | 109,406 | 109,390 | 109,352 | 109,336 | ||||||||||||||||
| CONSOLIDATED BALANCE SHEET DATA | |||||||||||||||||||||
| Total assets | $ | 18,319,690 | $ | 18,345,498 | $ | 18,171,287 | $ | 17,727,190 | $ | 17,584,199 | |||||||||||
| Loans | 14,737,303 | 14,478,489 | 13,945,913 | 13,696,912 | 13,311,967 | ||||||||||||||||
| Debt securities | 1,563,099 | 1,630,531 | 1,684,421 | 1,728,901 | 1,849,739 | ||||||||||||||||
| Noninterest-bearing demand deposits | 2,910,281 | 2,995,402 | 2,836,622 | 2,684,272 | 2,598,895 | ||||||||||||||||
| Total deposits | 14,087,378 | 14,548,730 | 14,486,364 | 14,219,034 | 14,106,922 | ||||||||||||||||
| Borrowings | 34,750 | 34,750 | 34,750 | 34,750 | 64,750 | ||||||||||||||||
| Stockholders' equity | 2,037,346 | 1,978,418 | 1,912,537 | 1,850,347 | 1,781,647 | ||||||||||||||||
| Shares outstanding | 109,343 | 109,342 | 109,326 | 109,250 | 109,243 | ||||||||||||||||
| Book value per share | $ | 18.63 | $ | 18.09 | $ | 17.49 | $ | 16.94 | $ | 16.31 | |||||||||||
| Tangible book value per share (1) | $ | 18.51 | $ | 17.97 | $ | 17.37 | $ | 16.81 | $ | 16.18 | |||||||||||
| SELECTED FINANCIAL RATIOS (Annualized) | |||||||||||||||||||||
| Net interest margin | 3.63 | % | 3.63 | % | 3.53 | % | 3.38 | % | 3.09 | % | |||||||||||
| Return on average assets | 1.89 | % | 1.91 | % | 1.89 | % | 1.91 | % | 1.47 | % | |||||||||||
| Return on average common stockholders' equity | 17.26 | % | 17.71 | % | 17.91 | % | 18.93 | % | 14.88 | % | |||||||||||
| Efficiency ratio | 30.20 | % | 29.65 | % | 29.80 | % | 28.78 | % | 35.22 | % | |||||||||||
| Noninterest expense to average earning assets | 1.18 | % | 1.16 | % | 1.13 | % | 1.08 | % | 1.11 | % | |||||||||||
| CAPITAL RATIOS (2) | |||||||||||||||||||||
| Common equity tier 1 capital to risk-weighted assets | 11.98 | % | 11.83 | % | 11.86 | % | 11.65 | % | 11.49 | % | |||||||||||
| Tier 1 capital to risk-weighted assets | 11.98 | % | 11.83 | % | 11.87 | % | 11.66 | % | 11.50 | % | |||||||||||
| Total capital to risk-weighted assets | 13.26 | % | 13.09 | % | 13.13 | % | 12.93 | % | 12.91 | % | |||||||||||
| Tier 1 capital to average assets | 11.11 | % | 10.93 | % | 10.71 | % | 10.26 | % | 10.01 | % | |||||||||||
| Tangible common equity to total tangible assets (1) | 11.05 | % | 10.72 | % | 10.46 | % | 10.37 | % | 10.06 | % | |||||||||||
| (1) This press release contains certain non-GAAP financial measures. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.” | |||||||||||||||||||||
| (2) Regulatory capital ratios for most recent period are preliminary. | |||||||||||||||||||||
GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures
This press release contains the non-GAAP financial measures of tangible common stockholders’ equity, total tangible assets, tangible book value per share and tangible common equity to total tangible assets, each of which excludes goodwill associated with our acquisition of Metro Bancshares, Inc. in January 2015. We recognized an
We believe these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, we acknowledge that these non-GAAP financial measures have limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies, including those in our industry, use. The following reconciliation table provides a more detailed analysis of the non-GAAP financial measures as of and for the comparative periods presented in this press release. Dollars are in thousands, except per share data.
| At September 30, 2026 | At June 30, 2026 | At March 31, 2026 | At December 31, 2025 | At September 30, 2025 | |||||||||||||||||||||
| Book value per share - GAAP | $ | 18.63 | $ | 18.09 | $ | 17.49 | $ | 16.94 | $ | 16.31 | |||||||||||||||
| Total common stockholders' equity - GAAP | 2,037,346 | 1,978,418 | 1,912,537 | 1,850,347 | 1,781,647 | ||||||||||||||||||||
| Adjustment for Goodwill | (13,615 | ) | (13,615 | ) | (13,615 | ) | (13,615 | ) | (13,615 | ) | |||||||||||||||
| Tangible common stockholders' equity - non-GAAP | $ | 2,023,731 | $ | 1,964,803 | $ | 1,898,922 | $ | 1,836,732 | $ | 1,768,032 | |||||||||||||||
| Tangible book value per share - non-GAAP | $ | 18.51 | $ | 17.97 | $ | 17.37 | $ | 16.81 | $ | 16.18 | |||||||||||||||
| Stockholders' equity to total assets - GAAP | 11.12 | % | 10.78 | % | 10.53 | % | 10.44 | % | 10.13 | % | |||||||||||||||
| Total assets - GAAP | $ | 18,319,690 | $ | 18,345,498 | $ | 18,171,287 | $ | 17,727,190 | $ | 17,584,199 | |||||||||||||||
| Adjustment for Goodwill | (13,615 | ) | (13,615 | ) | (13,615 | ) | (13,615 | ) | (13,615 | ) | |||||||||||||||
| Total tangible assets - non-GAAP | $ | 18,306,075 | $ | 18,331,883 | $ | 18,157,672 | $ | 17,713,575 | $ | 17,570,584 | |||||||||||||||
| Tangible common equity to total tangible assets - non-GAAP | 11.05 | % | 10.72 | % | 10.46 | % | 10.37 | % | 10.06 | % | |||||||||||||||
| Three Months Ended September 30, 2026 | Three Months Ended September 30, 2025 | Nine Months Ended September 30, 2026 | Nine Months Ended September 30, 2025 | |||||||||||||||||||
| Net income - GAAP | $ | 87,308 | $ | 65,571 | $ | 256,072 | $ | 190,219 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| (Gain) loss on marketable securities | (148 | ) | 7,812 | (148 | ) | 16,375 | ||||||||||||||||
| Tax on adjustments | 37 | (1,961 | ) | 37 | (3,539 | ) | ||||||||||||||||
| Adjusted net income - non-GAAP | $ | 87,197 | $ | 71,422 | $ | 255,961 | $ | 200,779 | ||||||||||||||
| Net income available to common stockholders - GAAP | $ | 87,308 | $ | 65,571 | $ | 256,041 | $ | 190,188 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| (Gain) loss on marketable securities | (148 | ) | 7,812 | (148 | ) | 16,375 | ||||||||||||||||
| Tax on adjustments | 37 | (1,961 | ) | 37 | (3,539 | ) | ||||||||||||||||
| Adjusted net income available to common stockholders - non-GAAP | $ | 87,197 | $ | 71,422 | $ | 255,930 | $ | 200,748 | ||||||||||||||
| Diluted earnings per share - GAAP | $ | 0.80 | $ | 0.60 | $ | 2.34 | $ | 1.74 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (0.02 | ) | |||||||||||||||||
| (Gain) loss on marketable securities | - | 0.07 | - | 0.15 | ||||||||||||||||||
| Tax on adjustments | - | (0.02 | ) | - | (0.03 | ) | ||||||||||||||||
| Adjusted diluted earnings per share - non-GAAP | $ | 0.80 | $ | 0.65 | $ | 2.34 | $ | 1.84 | ||||||||||||||
| Net interest income, on a fully taxable-equivalent basis | $ | 159,885 | $ | 133,502 | $ | 464,344 | $ | 388,897 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| Tax on adjustments | - | - | - | 571 | ||||||||||||||||||
| Adjusted net interest income, on a fully taxable-equivalent basis | $ | 159,885 | $ | 133,502 | $ | 464,344 | $ | 387,192 | ||||||||||||||
| Return on average assets - GAAP | 1.89 | % | 1.47 | % | 1.90 | % | 1.44 | % | ||||||||||||||
| Net income available to common stockholders - GAAP | $ | 87,308 | $ | 65,571 | $ | 256,041 | $ | 190,188 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| (Gain) loss on marketable securities | (148 | ) | 7,812 | (148 | ) | 16,375 | ||||||||||||||||
| Tax on adjustments | 37 | (1,961 | ) | 37 | (3,539 | ) | ||||||||||||||||
| Adjusted net income available to common stockholders - non-GAAP | $ | 87,197 | $ | 71,422 | $ | 255,930 | $ | 200,748 | ||||||||||||||
| Average assets - GAAP | $ | 18,320,832 | $ | 17,709,359 | $ | 18,035,725 | $ | 17,681,999 | ||||||||||||||
| Adjusted return on average assets - non-GAAP | 1.89 | % | 1.60 | % | 1.90 | % | 1.52 | % | ||||||||||||||
| Return on average common stockholders' equity - GAAP | 17.26 | % | 14.88 | % | 17.62 | % | 15.01 | % | ||||||||||||||
| Net income available to common stockholders - GAAP | $ | 87,308 | $ | 65,571 | $ | 256,041 | $ | 190,188 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| (Gain) loss on marketable securities | (148 | ) | 7,812 | (148 | ) | 16,375 | ||||||||||||||||
| Tax on adjustments | 37 | (1,961 | ) | 37 | (3,539 | ) | ||||||||||||||||
| Adjusted net income available to common stockholders - non-GAAP | $ | 87,197 | $ | 71,422 | $ | 255,930 | $ | 200,748 | ||||||||||||||
| Average common stockholders' equity - GAAP | $ | 2,007,112 | $ | 1,747,825 | $ | 1,943,224 | $ | 1,693,601 | ||||||||||||||
| Adjusted return on average common stockholders' equity non-GAAP | 17.24 | % | 16.21 | % | 17.61 | % | 15.85 | % | ||||||||||||||
| Efficiency ratio | 30.20 | % | 35.22 | % | 29.89 | % | 34.56 | % | ||||||||||||||
| Net interest income - GAAP | $ | 159,814 | $ | 133,448 | $ | 463,599 | $ | 388,688 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Legal matter accrual reversal | - | - | - | (2,276 | ) | |||||||||||||||||
| Adjusted net interest income - non-GAAP | $ | 159,814 | $ | 133,448 | $ | 463,599 | $ | 386,412 | ||||||||||||||
| Total noninterest income - GAAP | 13,112 | 2,833 | 36,844 | 11,531 | ||||||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| (Gain) loss on marketable securities | (148 | ) | 7,812 | (148 | ) | 16,375 | ||||||||||||||||
| Adjusted noninterest income - non-GAAP | $ | 12,964 | $ | 10,645 | $ | 36,696 | $ | 27,906 | ||||||||||||||
| Adjusted net interest income and noninterest income - non-GAAP | 172,778 | 144,093 | 500,295 | 414,318 | ||||||||||||||||||
| Noninterest expense - GAAP | $ | 52,229 | $ | 47,996 | $ | 149,574 | $ | 138,307 | ||||||||||||||
| Adjustments: | ||||||||||||||||||||||
| Adjusted noninterest expense - non-GAAP | $ | 52,229 | $ | 47,996 | $ | 149,574 | $ | 138,307 | ||||||||||||||
| Adjusted efficiency ratio - non-GAAP | 30.23 | % | 33.31 | % | 29.90 | % | 33.38 | % | ||||||||||||||
| CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||||||||||||
| (in Thousands except per share data) | |||||||||||||
| September 30, 2026 | September 30, 2025 | % Change | |||||||||||
| ASSETS | |||||||||||||
| Cash and due from banks | $ | 122,417 | $ | 144,089 | (15 | ) | % | ||||||
| Interest-bearing balances due from depository institutions | 738,547 | 1,191,447 | (38 | ) | % | ||||||||
| Federal funds sold and securities purchased with agreement to resell | 324,051 | 437,769 | (26 | ) | % | ||||||||
| Cash and cash equivalents | 1,185,015 | 1,773,305 | (33 | ) | % | ||||||||
| Available for sale debt securities, at fair value | 968,503 | 1,178,144 | (18 | ) | % | ||||||||
| Held to maturity debt securities (fair value of | 594,596 | 671,595 | (11 | ) | % | ||||||||
| Restricted equity securities | 12,475 | 12,203 | 2 | % | |||||||||
| Mortgage loans held for sale | 15,273 | 9,433 | 62 | % | |||||||||
| Loans | 14,737,303 | 13,311,967 | 11 | % | |||||||||
| Less allowance for credit losses | (189,010 | ) | (170,235 | ) | 11 | % | |||||||
| Loans, net | 14,548,293 | 13,141,732 | 11 | % | |||||||||
| Premises and equipment, net | 67,390 | 60,704 | 11 | % | |||||||||
| Goodwill | 13,615 | 13,615 | - | % | |||||||||
| Other assets | 914,530 | 723,468 | 26 | % | |||||||||
| Total assets | $ | 18,319,690 | $ | 17,584,199 | 4 | % | |||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||||||
| Liabilities: | |||||||||||||
| Deposits: | |||||||||||||
| Noninterest-bearing demand | $ | 2,910,281 | $ | 2,598,895 | 12 | % | |||||||
| Interest-bearing | 11,177,097 | 11,508,027 | (3 | ) | % | ||||||||
| Total deposits | 14,087,378 | 14,106,922 | - | % | |||||||||
| Federal funds purchased | 1,965,000 | 1,488,150 | 32 | % | |||||||||
| Other borrowings | 34,750 | 64,750 | (46 | ) | % | ||||||||
| Other liabilities | 195,216 | 142,730 | 37 | % | |||||||||
| Total liabilities | 16,282,344 | 15,802,552 | 3 | % | |||||||||
| Stockholders' equity: | |||||||||||||
| Preferred stock, par value | |||||||||||||
| September 30, 2026 and September 30, 2025 | - | - | - | % | |||||||||
| Common stock, par value | |||||||||||||
| issued and outstanding at September 30, 2026, and 109,243 | |||||||||||||
| shares issued and outstanding at September 30, 2025 | 109 | 109 | - | % | |||||||||
| Additional paid-in capital | 240,134 | 237,181 | 1 | % | |||||||||
| Retained earnings | 1,807,673 | 1,548,098 | 17 | % | |||||||||
| Accumulated other comprehensive loss | (11,070 | ) | (4,241 | ) | 161 | % | |||||||
| Total stockholders' equity attributable to ServisFirst Bancshares, Inc. | 2,036,846 | 1,781,147 | 14 | % | |||||||||
| Noncontrolling interest | 500 | 500 | - | % | |||||||||
| Total stockholders' equity | 2,037,346 | 1,781,647 | 14 | % | |||||||||
| Total liabilities and stockholders' equity | $ | 18,319,690 | $ | 17,584,199 | 4 | % | |||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | |||||||||||||||
| (In thousands except per share data) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Interest income: | |||||||||||||||
| Interest and fees on loans | $ | 228,652 | $ | 210,987 | $ | 659,449 | $ | 614,444 | |||||||
| Debt securities | 16,088 | 17,343 | 48,014 | 49,939 | |||||||||||
| Federal funds sold and securities purchased with agreement to resell | 3,392 | 4,724 | 13,099 | 6,336 | |||||||||||
| Other interest and dividends | 9,221 | 18,254 | 28,151 | 68,320 | |||||||||||
| Total interest income | 257,353 | 251,308 | 748,713 | 739,039 | |||||||||||
| Interest expense: | |||||||||||||||
| Deposits | 80,414 | 98,735 | 238,139 | 286,968 | |||||||||||
| Borrowed funds | 17,125 | 19,125 | 46,975 | 63,383 | |||||||||||
| Total interest expense | 97,539 | 117,860 | 285,114 | 350,351 | |||||||||||
| Net interest income | 159,814 | 133,448 | 463,599 | 388,688 | |||||||||||
| Provision for credit losses | 15,245 | 9,463 | 37,294 | 27,389 | |||||||||||
| Net interest income after provision for credit losses | 144,569 | 123,985 | 426,305 | 361,299 | |||||||||||
| Noninterest income: | |||||||||||||||
| Service charges on deposit accounts | 3,448 | 3,316 | 10,082 | 8,545 | |||||||||||
| Mortgage banking | 1,935 | 1,864 | 6,048 | 3,800 | |||||||||||
| Credit card income | 2,409 | 2,405 | 7,103 | 6,492 | |||||||||||
| Securities gains (losses) | 148 | (7,812 | ) | 148 | (16,375 | ) | |||||||||
| Bank-owned life insurance income | 4,343 | 2,405 | 11,298 | 6,668 | |||||||||||
| Other operating income | 829 | 655 | 2,165 | 2,401 | |||||||||||
| Total noninterest income | 13,112 | 2,833 | 36,844 | 11,531 | |||||||||||
| Noninterest expenses: | |||||||||||||||
| Salaries and employee benefits | 26,927 | 25,522 | 80,054 | 70,977 | |||||||||||
| Equipment and occupancy expense | 3,381 | 3,615 | 11,292 | 10,860 | |||||||||||
| Third party processing and other services | 8,081 | 8,095 | 23,568 | 23,838 | |||||||||||
| Professional services | 1,951 | 1,857 | 6,121 | 5,694 | |||||||||||
| FDIC and other regulatory assessments | 2,478 | 2,742 | 7,977 | 8,349 | |||||||||||
| Other real estate owned expense | 476 | 82 | 571 | 142 | |||||||||||
| Other operating expenses | 8,935 | 6,083 | 19,991 | 18,447 | |||||||||||
| Total noninterest expenses | 52,229 | 47,996 | 149,574 | 138,307 | |||||||||||
| Income before income taxes | 105,452 | 78,822 | 313,575 | 234,523 | |||||||||||
| Provision for income taxes | 18,144 | 13,251 | 57,503 | 44,304 | |||||||||||
| Net income | 87,308 | 65,571 | 256,072 | 190,219 | |||||||||||
| Dividends on preferred stock | - | - | 31 | 31 | |||||||||||
| Net income available to common stockholders | $ | 87,308 | $ | 65,571 | $ | 256,041 | $ | 190,188 | |||||||
| Basic earnings per common share | $ | 0.80 | $ | 0.60 | $ | 2.34 | $ | 1.74 | |||||||
| Diluted earnings per common share | $ | 0.80 | $ | 0.60 | $ | 2.34 | $ | 1.74 | |||||||
| LOANS BY TYPE (UNAUDITED) | |||||||||||||||
| (In thousands) | |||||||||||||||
| 3rd Quarter 2026 | 2nd Quarter 2026 | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | |||||||||||
| Commercial, financial and agricultural | $ | 3,386,275 | $ | 3,252,437 | $ | 3,189,704 | $ | 3,146,736 | $ | 2,945,784 | |||||
| Real estate - construction | 1,566,203 | 1,564,504 | 1,531,042 | 1,457,628 | 1,532,285 | ||||||||||
| Real estate - mortgage: | |||||||||||||||
| Owner-occupied commercial | 2,853,062 | 2,781,375 | 2,718,512 | 2,739,823 | 2,680,055 | ||||||||||
| 1-4 family mortgage | 1,717,781 | 1,685,723 | 1,695,140 | 1,671,713 | 1,625,296 | ||||||||||
| Non-owner occupied commercial | 5,141,148 | 5,123,635 | 4,739,642 | 4,603,389 | 4,448,710 | ||||||||||
| Subtotal: Real estate - mortgage | 9,711,991 | 9,590,733 | 9,153,294 | 9,014,925 | 8,754,061 | ||||||||||
| Consumer | 72,834 | 70,815 | 71,873 | 77,623 | 79,837 | ||||||||||
| Total loans | $ | 14,737,303 | $ | 14,478,489 | $ | 13,945,913 | $ | 13,696,912 | $ | 13,311,967 | |||||
| SUMMARY OF CREDIT LOSS EXPERIENCE (UNAUDITED) | |||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||
| 3rd Quarter 2026 | 2nd Quarter 2026 | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | |||||||||||||||
| Allowance for credit losses: | |||||||||||||||||||
| Beginning balance | $ | 181,853 | $ | 173,905 | $ | 171,683 | $ | 170,235 | $ | 169,959 | |||||||||
| Loans charged off: | |||||||||||||||||||
| Commercial, financial and agricultural | 1,862 | 4,074 | 8,291 | 7,695 | 7,947 | ||||||||||||||
| Real estate - construction | 6,959 | 711 | - | - | - | ||||||||||||||
| Real estate - mortgage | 207 | 5 | 91 | 64 | 1,294 | ||||||||||||||
| Consumer | 137 | 79 | 171 | 465 | 109 | ||||||||||||||
| Total charge offs | 9,165 | 4,869 | 8,553 | 8,224 | 9,350 | ||||||||||||||
| Recoveries: | |||||||||||||||||||
| Commercial, financial and agricultural | 1,398 | 667 | 178 | 1,532 | 237 | ||||||||||||||
| Real estate - construction | - | - | - | - | 30 | ||||||||||||||
| Real estate - mortgage | 3 | 396 | - | - | - | ||||||||||||||
| Consumer | 23 | 59 | 35 | 10 | 21 | ||||||||||||||
| Total recoveries | 1,423 | 1,122 | 213 | 1,542 | 288 | ||||||||||||||
| Net charge-offs | 7,741 | 3,747 | 8,340 | 6,682 | 9,062 | ||||||||||||||
| Provision for loan losses | 14,899 | 11,695 | 10,562 | 8,130 | 9,338 | ||||||||||||||
| Ending balance | $ | 189,010 | $ | 181,853 | $ | 173,905 | $ | 171,683 | $ | 170,235 | |||||||||
| Allowance for credit losses to total loans | 1.28 | % | 1.26 | % | 1.25 | % | 1.25 | % | 1.28 | % | |||||||||
| Allowance for credit losses to total average loans | 1.30 | % | 1.28 | % | 1.26 | % | 1.27 | % | 1.29 | % | |||||||||
| Net charge-offs to total average loans | 0.21 | % | 0.11 | % | 0.25 | % | 0.20 | % | 0.27 | % | |||||||||
| Provision for credit losses to total average loans | 0.41 | % | 0.33 | % | 0.31 | % | 0.24 | % | 0.28 | % | |||||||||
| Nonperforming assets: | |||||||||||||||||||
| Nonaccrual loans | $ | 160,084 | $ | 169,711 | $ | 176,613 | $ | 168,351 | $ | 166,662 | |||||||||
| Loans 90+ days past due and accruing | 1,514 | 1,242 | 1,274 | 478 | 965 | ||||||||||||||
| Other real estate owned and | |||||||||||||||||||
| repossessed assets | 14,865 | 4,834 | 3,072 | 2,583 | 611 | ||||||||||||||
| Total | $ | 176,463 | $ | 175,787 | $ | 180,959 | $ | 171,412 | $ | 168,238 | |||||||||
| Nonperforming loans to total loans | 1.10 | % | 1.18 | % | 1.28 | % | 1.23 | % | 1.26 | % | |||||||||
| Nonperforming assets to total assets | 0.96 | % | 0.96 | % | 1.00 | % | 0.97 | % | 0.96 | % | |||||||||
| Nonperforming assets to earning assets | 1.01 | % | 0.99 | % | 1.05 | % | 1.01 | % | 1.00 | % | |||||||||
| Allowance for credit losses to nonaccrual loans | 118.07 | % | 107.15 | % | 98.47 | % | 101.98 | % | 102.14 | % | |||||||||
| CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) | |||||||||||||||||
| (In thousands except per share data) | |||||||||||||||||
| 3rd Quarter 2026 | 2nd Quarter 2026 | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | |||||||||||||
| Interest income: | |||||||||||||||||
| Interest and fees on loans | $ | 228,652 | $ | 220,731 | $ | 210,066 | $ | 214,252 | $ | 210,987 | |||||||
| Debt securities | 16,088 | 15,827 | 16,099 | 17,204 | 17,343 | ||||||||||||
| Federal funds sold and securities purchased with agreement to resell | 3,392 | 4,146 | 5,561 | 5,671 | 4,724 | ||||||||||||
| Other interest and dividends | 9,221 | 9,176 | 9,754 | 14,261 | 18,254 | ||||||||||||
| Total interest income | 257,353 | 249,880 | 241,480 | 251,388 | 251,308 | ||||||||||||
| Interest expense: | |||||||||||||||||
| Deposits | 80,414 | 79,440 | 78,285 | 86,920 | 98,735 | ||||||||||||
| Borrowed funds | 17,125 | 14,803 | 15,047 | 17,947 | 19,125 | ||||||||||||
| Total interest expense | 97,539 | 94,243 | 93,332 | 104,867 | 117,860 | ||||||||||||
| Net interest income | 159,814 | 155,637 | 148,148 | 146,521 | 133,448 | ||||||||||||
| Provision for credit losses | 15,245 | 11,412 | 10,637 | 7,922 | 9,463 | ||||||||||||
| Net interest income after provision for credit losses | 144,569 | 144,225 | 137,511 | 138,599 | 123,985 | ||||||||||||
| Noninterest income: | |||||||||||||||||
| Service charges on deposit accounts | 3,448 | 3,338 | 3,296 | 3,339 | 3,316 | ||||||||||||
| Mortgage banking | 1,935 | 2,221 | 1,892 | 1,664 | 1,864 | ||||||||||||
| Credit card income | 2,409 | 2,492 | 2,202 | 1,835 | 2,405 | ||||||||||||
| Securities gains (losses) | 148 | - | - | - | (7,812 | ) | |||||||||||
| Bank-owned life insurance income | 4,343 | 4,133 | 2,822 | 8,149 | 2,405 | ||||||||||||
| Other operating income | 829 | 708 | 628 | 704 | 655 | ||||||||||||
| Total noninterest income | 13,112 | 12,892 | 10,840 | 15,691 | 2,833 | ||||||||||||
| Noninterest expenses: | |||||||||||||||||
| Salaries and employee benefits | 26,927 | 26,274 | 26,853 | 23,838 | 25,522 | ||||||||||||
| Equipment and occupancy expense | 3,381 | 3,963 | 3,948 | 3,737 | 3,615 | ||||||||||||
| Third party processing and other services | 8,081 | 7,962 | 7,525 | 7,779 | 8,095 | ||||||||||||
| Professional services | 1,951 | 2,227 | 1,943 | 1,481 | 1,857 | ||||||||||||
| FDIC and other regulatory assessments | 2,478 | 2,753 | 2,745 | 2,641 | 2,742 | ||||||||||||
| Other real estate owned expense | 476 | 75 | 20 | 13 | 82 | ||||||||||||
| Other operating expenses | 8,935 | 6,707 | 4,350 | 7,194 | 6,083 | ||||||||||||
| Total noninterest expenses | 52,229 | 49,961 | 47,384 | 46,683 | 47,996 | ||||||||||||
| Income before income taxes | 105,452 | 107,156 | 100,967 | 107,607 | 78,822 | ||||||||||||
| Provision for income taxes | 18,144 | 21,363 | 17,996 | 21,223 | 13,251 | ||||||||||||
| Net income | 87,308 | 85,793 | 82,971 | 86,384 | 65,571 | ||||||||||||
| Dividends on preferred stock | - | 31 | - | 31 | - | ||||||||||||
| Net income available to common stockholders | $ | 87,308 | $ | 85,762 | $ | 82,971 | $ | 86,353 | $ | 65,571 | |||||||
| Basic earnings per common share | $ | 0.80 | $ | 0.78 | $ | 0.76 | $ | 0.79 | $ | 0.60 | |||||||
| Diluted earnings per common share | $ | 0.80 | $ | 0.78 | $ | 0.76 | $ | 0.79 | $ | 0.60 | |||||||
| AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED) | ||||||||||||||||||||||||||||||||||||
| ON A FULLY TAXABLE-EQUIVALENT BASIS | ||||||||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||
| 3rd Quarter 2026 | 2nd Quarter 2026 | 1st Quarter 2026 | 4th Quarter 2025 | 3rd Quarter 2025 | ||||||||||||||||||||||||||||||||
| Average Balance | Yield / Rate | Average Balance | Yield / Rate | Average Balance | Yield / Rate | Average Balance | Yield / Rate | Average Balance | Yield / Rate | |||||||||||||||||||||||||||
| Assets: | ||||||||||||||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||||||||||||||
| Loans, net of unearned income (1) | ||||||||||||||||||||||||||||||||||||
| Taxable | $ | 14,523,000 | 6.23 | % | $ | 14,198,439 | 6.18 | % | $ | 13,751,447 | 6.18 | % | $ | 13,474,271 | 6.30 | % | $ | 13,175,297 | 6.34 | % | ||||||||||||||||
| Tax-exempt (2) | 21,997 | 7.41 | 26,082 | 37.03 | 32,976 | 5.82 | 30,670 | 5.52 | 30,478 | 5.47 | ||||||||||||||||||||||||||
| Total loans, net of unearned | ||||||||||||||||||||||||||||||||||||
| income | 14,544,997 | 6.24 | 14,224,521 | 6.23 | 13,784,423 | 6.18 | 13,504,941 | 6.29 | 13,205,775 | 6.34 | ||||||||||||||||||||||||||
| Mortgage loans held for sale | 11,909 | 4.83 | 13,327 | 5.30 | 10,680 | 4.40 | 9,887 | 4.49 | 11,351 | 4.82 | ||||||||||||||||||||||||||
| Debt securities: | ||||||||||||||||||||||||||||||||||||
| Taxable | 1,669,210 | 3.85 | 1,657,378 | 3.82 | 1,702,499 | 3.78 | 1,826,632 | 3.77 | 1,926,101 | 3.60 | ||||||||||||||||||||||||||
| Tax-exempt (2) | 444 | 5.41 | 444 | 5.41 | 444 | 5.41 | 444 | 5.41 | 444 | 5.41 | ||||||||||||||||||||||||||
| Total securities (3) | 1,669,654 | 3.85 | 1,657,822 | 3.82 | 1,702,943 | 3.78 | 1,827,076 | 3.77 | 1,926,545 | 3.60 | ||||||||||||||||||||||||||
| Federal funds sold and securities | ||||||||||||||||||||||||||||||||||||
| purchased with agreement to resell | 298,700 | 4.50 | 372,645 | 4.46 | 501,377 | 4.50 | 469,148 | 4.79 | 365,733 | 5.12 | ||||||||||||||||||||||||||
| Restricted equity securities | 12,465 | 5.98 | 12,456 | 6.41 | 12,228 | 6.17 | 12,193 | 6.61 | 12,167 | 6.36 | ||||||||||||||||||||||||||
| Interest-bearing balances with banks | 950,426 | 3.76 | 964,808 | 3.73 | 1,041,026 | 3.73 | 1,393,155 | 4.00 | 1,608,118 | 4.45 | ||||||||||||||||||||||||||
| Total interest-earning assets | $ | 17,488,151 | 5.84 | % | $ | 17,245,579 | 5.82 | % | $ | 17,052,677 | 5.75 | % | $ | 17,216,400 | 5.79 | % | $ | 17,129,689 | 5.82 | % | ||||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 84,825 | 96,648 | 103,847 | 102,066 | 103,470 | |||||||||||||||||||||||||||||||
| Net premises and equipment | 65,791 | 63,303 | 61,253 | 61,009 | 60,614 | |||||||||||||||||||||||||||||||
| Allowance for credit losses, accrued | ||||||||||||||||||||||||||||||||||||
| interest and other assets | 682,065 | 606,506 | 552,337 | 556,704 | 415,586 | |||||||||||||||||||||||||||||||
| Total assets | $ | 18,320,832 | $ | 18,012,036 | $ | 17,770,114 | $ | 17,936,179 | $ | 17,709,359 | ||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||
| Checking | $ | 2,226,470 | 1.72 | % | $ | 2,050,758 | 1.69 | % | $ | 2,101,953 | 1.60 | % | $ | 2,126,615 | 1.77 | % | $ | 2,069,440 | 2.16 | % | ||||||||||||||||
| Savings | 110,246 | 1.43 | 112,077 | 1.41 | 110,843 | 1.42 | 106,551 | 1.52 | 103,668 | 1.66 | ||||||||||||||||||||||||||
| Money market | 7,835,165 | 3.05 | 7,956,884 | 3.03 | 7,812,168 | 3.01 | 7,816,487 | 3.23 | 7,965,115 | 3.67 | ||||||||||||||||||||||||||
| Time deposits | 1,235,134 | 3.28 | 1,274,496 | 3.26 | 1,373,023 | 3.42 | 1,392,749 | 3.80 | 1,344,257 | 3.97 | ||||||||||||||||||||||||||
| Total interest-bearing deposits | 11,407,015 | 2.80 | 11,394,215 | 2.80 | 11,397,987 | 2.79 | 11,442,402 | 3.01 | 11,482,480 | 3.41 | ||||||||||||||||||||||||||
| Federal funds purchased | 1,760,091 | 3.78 | 1,549,520 | 3.74 | 1,593,215 | 3.74 | 1,712,399 | 4.01 | 1,640,377 | 4.46 | ||||||||||||||||||||||||||
| Other borrowings | 34,750 | 3.96 | 34,750 | 4.02 | 34,750 | 4.05 | 59,207 | 4.21 | 64,761 | 4.21 | ||||||||||||||||||||||||||
| Total interest-bearing liabilities | $ | 13,201,856 | 2.93 | % | $ | 12,978,485 | 2.91 | % | $ | 13,025,952 | 2.91 | % | $ | 13,214,008 | 3.15 | % | $ | 13,187,618 | 3.55 | % | ||||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||
| Noninterest-bearing | ||||||||||||||||||||||||||||||||||||
| checking | 2,921,746 | 2,923,956 | 2,728,354 | 2,768,495 | 2,651,043 | |||||||||||||||||||||||||||||||
| Other liabilities | 190,118 | 167,024 | 137,231 | 143,680 | 122,873 | |||||||||||||||||||||||||||||||
| Stockholders' equity | 2,010,433 | 1,944,735 | 1,879,072 | 1,813,097 | 1,762,980 | |||||||||||||||||||||||||||||||
| Accumulated other comprehensive | ||||||||||||||||||||||||||||||||||||
| loss | (3,321 | ) | (2,164 | ) | (495 | ) | (3,101 | ) | (15,155 | ) | ||||||||||||||||||||||||||
| Total liabilities and | ||||||||||||||||||||||||||||||||||||
| stockholders' equity | $ | 18,320,832 | $ | 18,012,036 | $ | 17,770,114 | $ | 17,936,179 | $ | 17,709,359 | ||||||||||||||||||||||||||
| Net interest spread | 2.91 | % | 2.91 | % | 2.84 | % | 2.64 | % | 2.27 | % | ||||||||||||||||||||||||||
| Net interest margin | 3.63 | % | 3.63 | % | 3.53 | % | 3.38 | % | 3.09 | % | ||||||||||||||||||||||||||
| (1) Average loans include nonaccrual loans in all periods. Loan fees of | ||||||||||||||||||||||||||||||||||||
| (2) Interest income and yields are presented on a fully taxable equivalent basis using a tax rate of | ||||||||||||||||||||||||||||||||||||
| (3) Unrealized losses on debt securities of | ||||||||||||||||||||||||||||||||||||
FAQ
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