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ServisFirst Bancshares (NYSE: SFBS) Q2 profit jumps 40% on loan growth

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

ServisFirst Bancshares, Inc. reported net income of $85.8 million for the quarter ended June 30, 2026, with diluted EPS of $1.57, up 40.2% from the prior-year quarter. Return on average assets was 1.91% and return on average common stockholders’ equity was 17.71%.

Loans reached $14.48 billion and deposits $14.55 billion, up 9.4% and 5.0% year-over-year. Net interest margin was 3.63% while the cost of interest-bearing deposits declined to 2.80%. Non-interest income was $12.9 million versus $0.4 million a year earlier, aided by higher service charges, mortgage banking, card fees and bank-owned life insurance income. Expenses rose 13.0%, yet the efficiency ratio improved to 29.65%. Nonperforming assets increased to 0.96% of total assets, while common equity tier 1 capital was 11.83% and cash and cash equivalents were $1.46 billion, or 8% of total assets, with no FHLB advances or brokered deposits.

Positive

  • Diluted EPS was $1.57 in Q2 2026, up 40.2% year-over-year, as net income rose 39.7% to $85.8 million, reflecting stronger profitability.
  • Net interest margin reached 3.63%, up 53 basis points from Q2 2025, while the cost of interest-bearing deposits fell 53 basis points to 2.80%.
  • Loans grew to $14.48 billion and deposits to $14.55 billion, up 9.4% and 5.0% year-over-year, with common equity tier 1 capital improving to 11.83%.
  • Efficiency ratio improved to 29.65% from 33.46% a year earlier, despite a 13.0% increase in non-interest expense.

Negative

  • Nonperforming assets to total assets rose to 0.96% from 0.42% a year earlier, driven by a large real-estate secured relationship.
  • Non-interest expense increased 13.0% year-over-year to $50.0 million, led by higher salaries, benefits and other operating costs.

Filing Explained

At June 30, 2026, on-balance-sheet liquidity was $1,717,319 thousand versus $12,420,048 thousand including available funding capacity.

This Form 8-K reports the completed second-quarter results for the period ended June 30, 2026 and supplements them with liquidity and credit data; the structural update is to the company’s financial condition.

The release calls liquidity “strong,” but the supplemental table separates on-balance-sheet resources from broader funding capacity, so the headline does not mean that the full amount is cash already held.

At June 30, 2026, on-balance-sheet liquidity was $1,717,319 thousand, comprising $1,456,473 thousand of cash and cash equivalents plus $260,846 thousand of investment securities net of pledged amounts; total available liquidity was $12,420,048 thousand after including funding availability.

Credit exposure remains a disclosed counterpoint: nonperforming assets were 0.96% of total assets, nonaccrual loans were $169,711 thousand, and the allowance for credit losses was 107.15% of nonaccrual loans.

A specific near-term line item is $558,471 thousand of scheduled certificate-of-deposit maturities during the subsequent quarter, at an average scheduled rate of 3.32%.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income Q2 2026 $85.8 million Quarter ended June 30, 2026; up 39.7% from Q2 2025
Diluted EPS Q2 2026 $1.57 Quarter ended June 30, 2026; up 40.2% year-over-year
Net interest margin 3.63% Q2 2026; up from 3.10% in Q2 2025
Loans outstanding $14.48 billion Ending loans at June 30, 2026; 9.4% higher than June 30, 2025
Total deposits $14.55 billion Ending deposits at June 30, 2026; 5.0% higher year-over-year
Nonperforming assets ratio 0.96% Nonperforming assets to total assets in Q2 2026; up from 0.42% in Q2 2025
Common equity tier 1 ratio 11.83% Common equity tier 1 capital to risk-weighted assets as of June 30, 2026
Efficiency ratio 29.65% Q2 2026 efficiency ratio; improved from 33.46% in Q2 2025
net interest margin financial
"The net interest margin in the second quarter of 2026 was 3.63%."
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
efficiency ratio financial
"The efficiency ratio was 29.65% during the second quarter of 2026."
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
nonperforming assets financial
"Nonperforming assets to total assets were 0.96% for the second quarter of 2026."
Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.
bank-owned life insurance financial
"Bank-owned life insurance income increased $2.0 million to $4.1 million."
Bank-owned life insurance (BOLI) is a life insurance policy that a bank purchases with itself as the beneficiary, typically on the lives of selected employees, so the bank receives the payout when a covered person dies. Investors care because these policies show up as assets on a bank’s balance sheet and generate tax-advantaged income and cash flow that can help offset employee benefit costs and smooth reported earnings—think of it as a low-profile savings vehicle that also provides a death benefit, which affects a bank’s reported profitability and risk profile.
tangible book value per share financial
"Tangible book value per share was $35.94 at June 30, 2026."
Tangible book value per share is the company's total physical and financial assets minus its liabilities and intangible items (like goodwill and brand value), divided by the number of outstanding shares. It gives investors a conservative, per‑share estimate of what would remain if the business sold only its hard assets and paid its debts—useful for judging whether a stock is priced above or below its underlying, tangible worth, like valuing a property by its bricks and cash rather than its reputation.
Net income $85.8 million up 39.7% vs Q2 2025
Diluted EPS $1.57 up 40.2% vs Q2 2025
Net interest margin 3.63% up 53 basis points vs Q2 2025
Loans $14.48 billion up 9.4% vs June 30, 2025
Total deposits $14.55 billion up 5.0% vs June 30, 2025
Efficiency ratio 29.65% improved from 33.46% in Q2 2025

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FAQ

How did ServisFirst Bancshares (SFBS) perform financially in Q2 2026?
ServisFirst Bancshares reported net income of $85.8 million and diluted EPS of $1.57 for Q2 2026. Net income grew 39.7% and EPS 40.2% year-over-year, with return on average assets at 1.91% and return on average common equity at 17.71%.

What happened to ServisFirst (SFBS) net interest margin in Q2 2026?
Net interest margin was 3.63% in Q2 2026, up from 3.53% in Q1 2026 and 3.10% in Q2 2025. A $1.9 million interest recovery on a previously nonaccrual credit added about five basis points to loan yields compared with the prior quarter.

What is ServisFirst (SFBS) asset quality picture in Q2 2026?
Nonperforming assets were 0.96% of total assets, versus 1.00% in Q1 2026 and 0.42% a year earlier. Annualized net charge-offs were 0.11% of average loans, and the allowance for credit losses was 1.26% of total loans at June 30, 2026.

How strong are ServisFirst Bancshares (SFBS) capital and liquidity at June 30, 2026?
Common equity tier 1 capital to risk-weighted assets was 11.83%, and tangible common equity to total tangible assets was 10.72%. Cash and cash equivalents totaled $1.46 billion, or 8% of assets, with no FHLB advances or brokered deposits outstanding.

How did ServisFirst Bancshares (SFBS) non-interest income and expenses evolve in Q2 2026?
Non-interest income rose to $12.9 million from $0.4 million a year earlier, helped by higher service charges, mortgage banking, card income and bank-owned life insurance. Non-interest expense increased 13.0% to $50.0 million, yet the efficiency ratio improved to 29.65%.
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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):  July 20, 2026

_______________________________

ServisFirst Bancshares, Inc.

(Exact name of registrant as specified in its charter)

_______________________________

Delaware001-3645226-0734029
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)

2500 Woodcrest Place

Birmingham, Alabama 35209

(Address of Principal Executive Offices) (Zip Code)

(205) 949-0302

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

_______________________________

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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
CommonSFBSNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 
 
Item 2.02. Results of Operations and Financial Condition.

 

On July 20, 2026, ServisFirst Bancshares, Inc., a Delaware corporation (“ServisFirst”), issued a press release announcing its operating results for the quarter ended June 30, 2026. A copy of the press release is attached as Exhibit 99.1.

 

The information furnished pursuant to Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.

 

Item 7.01. Regulation FD Disclosure.

 

On July 20, 2026, ServisFirst hosted a call to review second quarter earnings. The supplemental data table is attached as Exhibit 99.2 and is incorporated by reference into this Item 7.01.

 

The information in this report is being furnished, not filed, pursuant to Regulation FD. Accordingly, the information in Items 7.01 and 9.01 of this report will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

 

Statements in this presentation 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 and Section 27A of the Securities Act of 1933. The words "believe," "expect," "anticipate," "project," “plan,” “intend,” “will,” “would,” “might” “could” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst Bancshares, Inc., are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.’s senior management and involve a number of 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: general economic conditions, especially in the credit markets and in the Southeast; 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 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, economic stimulus initiatives; 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 non-bank 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 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 contained herein. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. ServisFirst Bancshares, Inc. assumes no obligation to update or revise any forward-looking statements that are made from time to time.

 

Item 9.01. Financial Statements and Exhibits.

 

(a)                 Not applicable

(b)                 Not applicable

(c)                 Not applicable

(d)                 Exhibits. The following exhibits are included with this Current Report on Form 8-K:

 

Exhibit No. Description
   
99.1 Press Release dated July 20, 2026  
99.2 Supplemental data table July 20, 2026
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 

SIGNATURE

 

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.

 

 ServisFirst Bancshares, Inc.
   
  
Date: July 20, 2026By: /s/ Thomas A. Broughton, III        
  Thomas A. Broughton, III
  Chairman, President and Chief Executive Officer
  

 

EXHIBIT 99.1

logo

ServisFirst Bancshares, Inc. Announces Results for Second Quarter of 2026

BIRMINGHAM, Ala., July 20, 2026 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc. (NYSE: SFBS), today announced earnings and operating results for the quarter ended June 30, 2026.

Second Quarter 2026 Highlights:

  • Diluted earnings per share of $1.57 for the quarter, up 40% from the second quarter of 2025, and up 30% from adjusted diluted earnings per share in the second quarter of 2025*.
  • Loans grew $533 million, or 15% annualized, during the quarter.
  • Net interest margin of 3.63%, up 10 basis points from the first quarter of 2026 and up 53 basis points from the second quarter of 2025.
  • Book value per share of $36.19, up 14.8% year-over-year.
  • Efficiency ratio under 30%, down from 33% in the second quarter of 2025.
  • Adjusted return on average common stockholders’ equity* increased from 15.68% to 17.71% year-over-year.
  • Cost of interest-bearing deposits of 2.80%, down 53 basis points from the second quarter of 2025.
  • Deposits grew $686 million, or 5%, from the second quarter of 2025.
  • Liquidity remains strong with $1.46 billion in cash and cash equivalents, equaling 8% of our total assets, and no FHLB advances or brokered deposits.
  • Consolidated common equity tier 1 capital to risk-weighted assets increased from 11.38% in the second quarter of 2025 to 11.83% in the second quarter of 2026.

Tom Broughton, Chairman, President, and CEO, said, “We were pleased with the strong loan growth in the quarter and the positive momentum in virtually all our markets for growth with our loan pipeline at record levels.”

David Sparacio, CFO, said, “Net Income growth of 30% year-over-year, while maintaining an efficiency ratio below 30%, along with continued improvement in our net interest margin resulted in superior performance, as we have historically delivered.”

* 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 non-interest income, and adjusted non-interest expense. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”

                   
FINANCIAL SUMMARY (UNAUDITED)                  
(in Thousands except share and per share amounts) Period Ending June 30, 2026 Period Ending March 31, 2026 % Change From Period Ending March 31, 2026 to Period Ending June 30, 2026 Period Ending June 30, 2025 % Change From Period Ending June 30, 2025 to Period Ending June 30, 2026
QUARTERLY OPERATING RESULTS                  
Net Income $85,793  $82,971  3.4% $61,424  39.7%
Net Income Available to Common Stockholders $85,762  $82,971  3.4% $61,393  39.7%
Diluted Earnings Per Share $1.57  $1.52  3.3% $1.12  40.2%
Return on Average Assets  1.91%  1.89%     1.40%   
Return on Average Common Stockholders' Equity  17.71%  17.91%     14.56%   
Average Diluted Shares Outstanding  54,702,886   54,695,017      54,664,480    
                   
Adjusted Net Income, net of tax* $85,793  $82,971  3.4% $66,133  29.7%
Adjusted Net Income Available to Common                  
Stockholders, net of tax* $85,762  $82,971  3.4% $66,102  29.7%
Adjusted Diluted Earnings Per Share, net of tax* $1.57  $1.52  3.3% $1.21  29.8%
Adjusted Return on Average Assets, net of tax*  1.91%  1.89%     1.50%   
Adjusted Return on Average Common                  
Stockholders' Equity, net of tax*  17.71%  17.91%     15.68%   
                   
YEAR-TO-DATE OPERATING RESULTS                  
Net Income $168,764         $124,648  35.4%
Net Income Available to Common Stockholders $168,733         $124,617  35.4%
Diluted Earnings Per Share $3.09         $2.28  35.1%
Return on Average Assets  1.90%         1.42%   
Return on Average Common Stockholders' Equity  17.81%         15.08%   
Average Diluted Shares Outstanding  54,698,973          54,660,577    
                   
Adjusted Net Income, net of tax* $168,764         $129,357  30.5%
Adjusted Net Income Available to Common                  
Stockholders, net of tax* $168,733         $129,326  30.5%
Adjusted Diluted Earnings Per Share, net of tax* $3.09         $2.36  30.6%
Adjusted Return on Average Assets, net of tax*  1.90%         1.48%   
Adjusted Return on Average Common                  
Stockholders' Equity, net of tax*  17.81%         15.65%   
                   
BALANCE SHEET                  
Total Assets $18,345,498  $18,171,287  1.0% $17,378,628  5.6%
Loans  14,478,489   13,945,913  3.8%  13,232,560  9.4%
Non-interest-bearing Demand Deposits  2,995,402   2,836,622  5.6%  2,632,058  13.8%
Total Deposits  14,548,730   14,486,364  0.4%  13,862,319  5.0%
Stockholders' Equity  1,978,418   1,912,537  3.4%  1,721,783  14.9%
                   

DETAILED FINANCIALS

ServisFirst Bancshares, Inc. reported net income and net income available to common stockholders of $85.8 million for the quarter ended June 30, 2026, compared to $61.4 million for the second quarter of 2025. Basic and diluted earnings per common share were both $1.57 in the second quarter of 2026, compared to $1.52 in the first quarter of 2026 and $1.12 in the second quarter of 2025. The prior-year quarter adjusted diluted earnings per share was $1.21.

Annualized return on average assets was 1.91% and annualized return on average common stockholders’ equity was 17.71% for the second quarter of 2026, compared to 1.40% and 14.56%, respectively, for the second quarter of 2025.

Net interest income was $155.6 million for the second quarter of 2026, compared to $148.1 million for the first quarter of 2026 and $131.7 million for the second quarter of 2025. The net interest margin in the second quarter of 2026 was 3.63% compared to 3.53% in the first quarter of 2026 and 3.10% in the second quarter of 2025. Loan yields were 6.23% during the second quarter of 2026 compared to 6.18% during the first quarter of 2026 and 6.37% during the second quarter of 2025. During the second quarter of 2026, we recovered $1.9 million in interest income from a large credit relationship that was previously on nonaccrual status. This recovery accounted for five basis points of the increase in loan yields from the first quarter of 2026. Investment yields were 3.81% during the second quarter of 2026 compared to 3.78% during the first quarter of 2026 and 3.37% during the second quarter of 2025. Average interest-bearing deposit rates were 2.80% during the second quarter of 2026, compared to 2.79% during the first quarter of 2026 and 3.33% during the second quarter of 2025. Average federal funds purchased rates were 3.74% during the second quarter of 2026, compared to 3.74% during the first quarter of 2026 and 4.49% during the second quarter of 2025.

Average loans for the second quarter of 2026 were $14.22 billion, an increase of $440.1 million, or 12.8% annualized, from average loans of $13.78 billion for the first quarter of 2026, and an increase of $1.21 billion, or 9.3%, from average loans of $13.01 billion for the second quarter of 2025. Ending total loans for the second quarter of 2026 were $14.48 billion, an increase of $532.6 million, or 15.3% annualized, from $13.95 billion for the first quarter of 2026, and an increase of $1.25 billion, or 9.4%, from $13.23 billion for the second quarter of 2025.

Average total deposits for the second quarter of 2026 were $14.32 billion, an increase of $191.8 million, or 5.4% annualized, from average total deposits of $14.13 billion for the first quarter of 2026, and an increase of $423.0 million, or 3.0%, from average total deposits of $13.90 billion for the second quarter of 2025. Ending total deposits for the second quarter of 2026 were $14.55 billion, an increase of $62.4 million, or 1.7% annualized, from $14.49 billion for the first quarter of 2026, and an increase of $686.4 million, or 5.0%, from $13.86 billion for the second quarter of 2025.

Nonperforming assets to total assets were 0.96% for the second quarter of 2026, compared to 1.00% for the first quarter of 2026 and 0.42% for the second quarter of 2025. The year-over-year increase was attributable to a large real-estate secured relationship. Annualized net charge-offs to average loans were 0.11% for the second quarter of 2026, compared to 0.25% for the first quarter of 2026 and 0.20% for the second quarter of 2025. The allowance for credit losses to total loans at June 30, 2026, March 31, 2026, and June 30, 2025, was 1.26%, 1.25%, and 1.28%, respectively. We recorded an $11.7 million provision for loan losses in the second quarter of 2026 compared to $10.6 million in the first quarter of 2026, and $11.4 million in the second quarter of 2025.

Non-interest income was $12.9 million for the second quarter of 2026 compared to $0.4 million in the second quarter of 2025, an increase of $12.5 million. Adjusted for $8.6 million of securities losses in the second quarter of 2025, this represented a $3.9 million, or 43.5% increase. Service charges on deposit accounts increased $667,000, or 25.0%, to $3.3 million for the second quarter of 2026 from $2.7 million in the second quarter of 2025, and were relatively flat on a linked quarter basis. We increased our service charge rates on many of our treasury management products in July of 2025. Mortgage banking revenue increased $898,000, or 67.9%, to $2.2 million for the second quarter of 2026 from $1.3 million in the second quarter of 2025, and increased $329,000, or 17.4%, on a linked quarter basis. The increase on a year-over-year basis was primarily due to an increase in loans sold into the secondary market. We also increased our per-loan administrative fee in the first quarter of 2026. Credit card income increased $373,000, or 17.6%, to $2.5 million for the second quarter of 2026 from $2.1 million in the second quarter of 2025, and increased $290,000, or 13.2%, on a linked quarter basis. Bank-owned life insurance (“BOLI”) income increased $2.0 million, or 94.4%, to $4.1 million for the second quarter of 2026 from $2.1 million in the second quarter of 2025, and increased $1.3 million, or 46.5%, on a linked quarter basis. The increases were primarily due to our purchases of $150.0 million of new contracts in the third quarter of 2025 and $25.0 million of new contracts in the second quarter of 2026. Additionally, we had a $1.0 million adjustment related to a correction of BOLI income in the fourth quarter of 2025. Other operating income decreased $37,000, or 5.0%, to $708,000 for the second quarter of 2026 from $745,000 in the second quarter of 2025, and increased $80,000, or 12.7%, on a linked quarter basis.

Non-interest expense increased $5.8 million, or 13.0%, to $50.0 million for the second quarter of 2026 from $44.2 million in the second quarter of 2025, and increased $2.6 million, or 5.4%, on a linked quarter basis. Salary and benefit expense increased $3.7 million, or 16.4%, to $26.3 million for the second quarter of 2026 from $22.6 million in the second quarter of 2025, and decreased $579,000, or 2.2%, on a linked quarter basis. The year-over-year increase was primarily due to the full impact of our Houston market expansion. The number of full-time equivalent employees (excluding temporary employees) increased by 22, or 3.4%, to 663 at June 30, 2026 compared to 641 at June 30, 2025, and increased by three from the end of the first quarter of 2026. Equipment and occupancy expense increased $440,000, or 12.5%, to $4.0 million for the second quarter of 2026 from $3.5 million in the second quarter of 2025, and increased $15,000, or 0.4%, on a linked quarter basis. Third party processing and other services expense decreased $43,000, or 0.5%, to $8.0 million for the second quarter of 2026 from $8.0 million in the second quarter of 2025, and increased $437,000, or 5.8%, on a linked quarter basis. Professional services expense increased $323,000, or 17.0%, to $2.2 million for the second quarter of 2026 from $1.9 million in the second quarter of 2025, and increased $284,000, or 14.6%, on a linked quarter basis. Other operating expenses increased $1.3 million, or 23.8%, to $6.7 million for the second quarter of 2026 from $5.4 million in the second quarter of 2025, and increased $2.4 million, or 54.2%, on a linked quarter basis. The efficiency ratio was 29.65% during the second quarter of 2026 compared to 33.46% during the second quarter of 2025 and 29.80% during the first quarter of 2026.

Our effective tax rate was 19.94% for the second quarter of 2026 compared to 19.82% for the second quarter of 2025, and 17.82% on a linked quarter basis. During the first quarter of 2026, we purchased Investment Tax Credits, which reduced our tax expense. We recognized a reduction in provision for income taxes resulting from excess tax benefits from the exercise and vesting of stock options and restricted stock during the second quarters of 2026 and 2025 of $36,000 and $234,000, respectively.

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.


 
SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(In thousands except share and per share data)                    
  2nd Quarter 2026 1st Quarter 2026 4th Quarter 2025 3rd Quarter 2025 2nd Quarter 2025
CONSOLIDATED STATEMENT OF INCOME                    
Interest income $249,880  $241,480  $251,388  $251,308  $246,635 
Interest expense  94,243   93,332   104,867   117,860   114,948 
Net interest income  155,637   148,148   146,521   133,448   131,687 
Provision for credit losses  11,412   10,637   7,922   9,463   11,296 
Net interest income after provision for credit losses  144,225   137,511   138,599   123,985   120,391 
Non-interest income  12,892   10,840   15,691   2,833   421 
Non-interest expense  49,961   47,384   46,683   47,996   44,204 
Income before income tax  107,156   100,967   107,607   78,822   76,608 
Provision for income tax  21,363   17,996   21,223   13,251   15,184 
Net income  85,793   82,971   86,384   65,571   61,424 
Preferred stock dividends  31   -   31   -   31 
Net income available to common stockholders $85,762  $82,971  $86,353  $65,571  $61,393 
Earnings per share - basic $1.57  $1.52  $1.58  $1.20  $1.12 
Earnings per share - diluted $1.57  $1.52  $1.58  $1.20  $1.12 
Average diluted shares outstanding  54,702,886   54,695,017   54,675,802   54,667,955   54,664,480 
                     
CONSOLIDATED BALANCE SHEET DATA                    
Total assets $18,345,498  $18,171,287  $17,727,190  $17,584,199  $17,378,628 
Loans  14,478,489   13,945,913   13,696,912   13,311,967   13,232,560 
Debt securities  1,630,531   1,684,421   1,728,901   1,849,739   1,914,503 
Non-interest-bearing demand deposits  2,995,402   2,836,622   2,684,272   2,598,895   2,632,058 
Total deposits  14,548,730   14,486,364   14,219,034   14,106,922   13,862,319 
Borrowings  34,750   34,750   34,750   64,750   64,747 
Stockholders' equity  1,978,418   1,912,537   1,850,347   1,781,647   1,721,783 
                     
Shares outstanding  54,671,023   54,663,123   54,624,955   54,621,441   54,618,545 
Book value per share $36.19  $34.99  $33.87  $32.62  $31.52 
Tangible book value per share (1) $35.94  $34.74  $33.62  $32.37  $31.27 
                     
SELECTED FINANCIAL RATIOS (Annualized)                    
Net interest margin  3.63%  3.53%  3.38%  3.09%  3.10%
Return on average assets  1.91%  1.89%  1.91%  1.47%  1.40%
Return on average common stockholders' equity  17.71%  17.91%  18.93%  14.88%  14.56%
Efficiency ratio  29.65%  29.80%  28.78%  35.22%  33.46%
Non-interest expense to average earning assets  1.16%  1.13%  1.08%  1.11%  1.04%
                     
CAPITAL RATIOS (2)                    
Common equity tier 1 capital to risk-weighted assets  11.83%  11.86%  11.65%  11.49%  11.38%
Tier 1 capital to risk-weighted assets  11.83%  11.87%  11.66%  11.50%  11.38%
Total capital to risk-weighted assets  13.09%  13.13%  12.93%  12.91%  12.81%
Tier 1 capital to average assets  10.93%  10.71%  10.26%  10.01%  9.78%
Tangible common equity to total tangible assets (1)  10.72%  10.46%  10.37%  10.06%  9.84%
                     
(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. This press release also contains the non-GAAP financial measures of 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, adjusted net interest income, adjusted non-interest income, and adjusted non-interest expense.

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 share and per share data.

                    
 At June 30,
2026		 At March 31,
2026		 At December 31,
2025		  At September 30,
2025		   At June 30,
2025		 
Book value per share - GAAP$36.19   $34.99   $33.87   $32.62   $31.52  
Total common stockholders' equity - GAAP 1,978,418    1,912,537    1,850,347    1,781,647    1,721,783  
Adjustment for Goodwill (13,615)   (13,615)   (13,615)   (13,615)   (13,615) 
Tangible common stockholders' equity - non-GAAP$1,964,803   $1,898,922   $1,836,732   $1,768,032   $1,708,168  
Tangible book value per share - non-GAAP$35.94   $34.74   $33.62   $32.37   $31.27  
                    
Stockholders' equity to total assets - GAAP 10.78 %  10.53 %  10.44 %  10.13 %  9.91 %
Total assets - GAAP$18,345,498   $18,171,287   $17,727,190   $17,584,199   $17,378,628  
Adjustment for Goodwill (13,615)   (13,615)   (13,615)   (13,615)   (13,615) 
Total tangible assets - non-GAAP$18,331,883   $18,157,672   $17,713,575   $17,570,584   $17,365,013  
Tangible common equity to total tangible assets - non-GAAP 10.72 %  10.46 %  10.37 %  10.06 %  9.84 %
                    


          
  Three Months Ended June 30, 2026 Three Months Ended June 30, 2025  Six Months Ended June 30, 2026 Six Months Ended June 30, 2025
                  
Net income - GAAP $85,793  $61,424    $168,764  $124,648  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Loss on marketable securities  -   8,563     -   8,563  
Tax on adjustments  -   (1,578)    -   (1,578) 
Adjusted net income - non-GAAP $85,793  $66,133    $168,764  $129,357  
                  
Net income available to common stockholders - GAAP $85,762  $61,393    $168,733  $124,617  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Loss on marketable securities  -   8,563     -   8,563  
Tax on adjustments  -   (1,578)    -   (1,578) 
Adjusted net income available to common stockholders - non-GAAP $85,762  $66,102    $168,733  $129,326  
                  
Diluted earnings per share - GAAP $1.57  $1.12    $3.09  $2.28  
Adjustments:                 
Legal matter accrual reversal  -   (0.04)    -   (0.05) 
Loss on marketable securities  -   0.16     -   0.16  
Tax on adjustments  -   (0.03)    -   (0.03) 
Adjusted diluted earnings per share - non-GAAP $1.57  $1.21    $3.09  $2.36  
                  
Net interest income, on a fully taxable-equivalent basis $155,637  $131,777    $303,785  $255,394  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Tax on adjustments  -   571     -   571  
Adjusted net interest income, on a fully taxable-equivalent basis $155,637  $130,072    $303,785  $253,689  
                  
Return on average assets - GAAP  1.91%  1.40 %   1.90%  1.42 %
Net income available to common stockholders - GAAP $85,762  $61,393    $168,733  $124,617  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Loss on marketable securities  -   8,563     -   8,563  
Tax on adjustments  -   (1,578)    -   (1,578) 
Adjusted net income available to common stockholders - non-GAAP $85,762  $66,102    $168,733  $129,326  
Average assets - GAAP $18,013,805  $17,626,503    $17,746,068  $17,668,094  
Adjusted return on average assets - non-GAAP  1.91%  1.50 %   1.90%  1.48 %
                  
Return on average common stockholders' equity - GAAP  17.71%  14.56 %   17.81%  15.08 %
Net income available to common stockholders - GAAP $85,762  $61,393    $168,733  $124,617  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Loss on marketable securities  -   8,563     -   8,563  
Tax on adjustments  -   (1,578)    -   (1,578) 
Adjusted net income available to common stockholders - non-GAAP $85,762  $66,102    $168,733  $129,326  
Average common stockholders' equity - GAAP $1,942,571  $1,690,855    $1,910,751  $1,666,039  
Adjusted return on average common stockholders' equity non-GAAP  17.71%  15.68 %   17.81%  15.65 %
                  
Efficiency ratio  29.65%  33.46 %   29.72%  34.22 %
Net interest income - GAAP $155,637  $131,687    $303,785  $255,240  
Adjustments:                 
Legal matter accrual reversal  -   (2,276)    -   (2,276) 
Adjusted net interest income - non-GAAP $155,637  $129,411    $303,785  $252,964  
Total non-interest income - GAAP  12,892   421     23,732   8,698  
Adjustments:                 
Loss on marketable securities  -   8,563     -   8,563  
Adjusted non-interest income - non-GAAP $12,892  $8,984    $23,732  $17,261  
Adjusted net interest income and non-interest income - non-GAAP  168,529   138,395     327,517   270,225  
Non-interest expense - GAAP $49,961  $44,204    $97,345  $90,311  
Adjustments:                 
Adjusted non-interest expense - non-GAAP $49,961  $44,204    $97,345  $90,311  
Adjusted efficiency ratio - non-GAAP  29.65%  31.94 %   29.72%  33.42 %
                    


 
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in thousands)
  June 30, 2026 June 30, 2025 % Change
ASSETS         
Cash and due from banks $115,442  $140,659  (18)%
Interest-bearing balances due from depository institutions  1,089,592   1,236,485  (12)%
Federal funds sold and securities purchased with agreement to resell  251,439   333,760  (25)%
Cash and cash equivalents  1,456,473   1,710,904  (15)%
Available for sale debt securities, at fair value  995,051   1,227,851  (19)%
Held to maturity debt securities (fair value of $590,280 and $639,455, respectively)  635,480   686,652  (7)%
Restricted equity securities  12,475   12,156  3 %
Mortgage loans held for sale  14,886   22,131  (33)%
Loans  14,478,489   13,232,560  9 %
Less allowance for credit losses  (181,853)  (169,959) 7 %
Loans, net  14,296,636   13,062,601  9 %
Premises and equipment, net  63,648   59,993  6 %
Goodwill  13,615   13,615  - %
Other assets  857,234   582,725  47 %
Total assets $18,345,498  $17,378,628  6 %
LIABILITIES AND STOCKHOLDERS' EQUITY         
Liabilities:         
Deposits:         
Non-interest-bearing demand $2,995,402  $2,632,058  14 %
Interest-bearing  11,553,328   11,230,261  3 %
Total deposits  14,548,730   13,862,319  5 %
Federal funds purchased  1,579,388   1,599,135  (1)%
Other borrowings  34,750   64,747  (46)%
Other liabilities  204,212   130,644  56 %
Total liabilities  16,367,080   15,656,845  5 %
Stockholders' equity:         
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at         
June 30, 2026 and June 30, 2025  -   -  - %
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 54,671,023 shares         
issued and outstanding at June 30, 2026, and 54,618,545         
shares issued and outstanding at June 30, 2025  55   54  2 %
Additional paid-in capital  239,317   236,716  1 %
Retained earnings  1,741,070   1,500,767  16 %
Accumulated other comprehensive loss  (2,524)  (16,254) (84)%
Total stockholders' equity attributable to ServisFirst Bancshares, Inc.  1,977,918   1,721,283  15 %
Noncontrolling interest  500   500  - %
Total stockholders' equity  1,978,418   1,721,783  15 %
Total liabilities and stockholders' equity $18,345,498  $17,378,628  6 %
             


 
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)
  Three Months Ended June 30, Six Months Ended June 30,
  2026
 2025  2026
 2025 
Interest income:              
Interest and fees on loans $220,731  $206,521  $430,797  $403,457 
Investment securities  15,827   16,567   31,926   32,596 
Federal funds sold and securities purchased with agreement to resell  4,146   1,592   9,707   1,612 
Other interest and dividends  9,176   21,955   18,930   50,066 
Total interest income  249,880   246,635   491,360   487,731 
Interest expense:              
Deposits  79,440   93,488   157,725   188,233 
Borrowed funds  14,803   21,460   29,850   44,258 
Total interest expense  94,243   114,948   187,575   232,491 
Net interest income  155,637   131,687   303,785   255,240 
Provision for credit losses  11,412   11,296   22,049   17,926 
Net interest income after provision for credit losses  144,225   120,391   281,736   237,314 
Non-interest income:              
Service charges on deposit accounts  3,338   2,671   6,634   5,229 
Mortgage banking  2,221   1,323   4,113   1,936 
Credit card income  2,492   2,119   4,694   4,087 
Securities losses  -   (8,563)  -   (8,563)
Bank-owned life insurance income  4,133   2,126   6,955   4,263 
Other operating income  708   745   1,336   1,746 
Total non-interest income  12,892   421   23,732   8,698 
Non-interest expenses:              
Salaries and employee benefits  26,274   22,576   53,127   45,455 
Equipment and occupancy expense  3,963   3,523   7,911   7,245 
Third party processing and other services  7,962   8,005   15,487   15,743 
Professional services  2,227   1,904   4,170   3,837 
FDIC and other regulatory assessments  2,753   2,753   4,260   5,607 
Other real estate owned expense  75   27   95   60 
Other operating expenses  6,707   5,416   12,295   12,364 
Total non-interest expenses  49,961   44,204   97,345   90,311 
Income before income taxes  107,156   76,608   208,123   155,701 
Provision for income taxes  21,363   15,184   39,359   31,053 
Net income  85,793   61,424   168,764   124,648 
Dividends on preferred stock  31   31   31   31 
Net income available to common stockholders $85,762  $61,393  $168,733  $124,617 
Basic earnings per common share $1.57  $1.12  $3.09  $2.28 
Diluted earnings per common share $1.57  $1.12  $3.09  $2.28 
                 


 
LOANS BY TYPE (UNAUDITED)
(In thousands)
                
  2nd Quarter 2026 1st Quarter 2026 4th Quarter 2025 3rd Quarter 2025 2nd Quarter 2025
Commercial, financial and agricultural $3,252,437 $3,189,704 $3,146,736 $2,945,784 $2,966,191
Real estate - construction  1,564,504  1,531,042  1,457,628  1,532,285  1,735,405
Real estate - mortgage:               
Owner-occupied commercial  2,781,375  2,718,512  2,739,823  2,680,055  2,557,711
1-4 family mortgage  1,685,723  1,695,140  1,671,713  1,625,296  1,561,461
Non-owner occupied commercial  5,123,635  4,739,642  4,603,389  4,448,710  4,338,697
Subtotal: Real estate - mortgage  9,590,733  9,153,294  9,014,925  8,754,061  8,457,869
Consumer  70,815  71,873  77,623  79,837  73,095
Total loans $14,478,489 $13,945,913 $13,696,912 $13,311,967 $13,232,560
                


 
SUMMARY OF CREDIT LOSS EXPERIENCE (UNAUDITED)
(Dollars in thousands)                 
 2nd Quarter 2026 1st Quarter 2026 4th Quarter 2025 3rd Quarter 2025 2nd Quarter 2025
Allowance for credit losses:                   
Beginning balance$173,905  $171,683  $170,235  $169,959  $165,034 
Loans charged off:                   
Commercial, financial and agricultural 4,074   8,291   7,695   7,947   6,849 
Real estate - construction 711   -   -   -   - 
Real estate - mortgage 5   91   64   1,294   580 
Consumer 79   171   465   109   73 
Total charge offs 4,869   8,553   8,224   9,350   7,502 
Recoveries:                   
Commercial, financial and agricultural 667   178   1,532   237   959 
Real estate - construction -   -   -   30   - 
Real estate - mortgage 396   -   -   -   1 
Consumer 59   35   10   21   58 
Total recoveries 1,122   213   1,542   288   1,018 
Net charge-offs 3,747   8,340   6,682   9,062   6,484 
Provision for loan losses 11,695   10,562   8,130   9,338   11,409 
Ending balance$181,853  $173,905  $171,683  $170,235  $169,959 
                    
Allowance for credit losses to total loans 1.26%  1.25%  1.25%  1.28%  1.28%
                    
Allowance for credit losses to total average loans 1.28%  1.26%  1.27%  1.29%  1.31%
Net charge-offs to total average loans 0.11%  0.25%  0.20%  0.27%  0.20%
                    
Provision for credit losses to total average loans 0.33%  0.31%  0.24%  0.28%  0.35%
Nonperforming assets:                   
Nonaccrual loans$169,711  $176,613  $168,351  $166,662  $68,619 
Loans 90+ days past due and accruing 1,242   1,274   478   965   3,549 
Other real estate owned and                   
repossessed assets 4,834   3,072   2,583   611   311 
Total$175,787  $180,959  $171,412  $168,238  $72,479 
                    
Nonperforming loans to total loans 1.18%  1.28%  1.23%  1.26%  0.55%
Nonperforming assets to total assets 0.96%  1.00%  0.97%  0.96%  0.42%
Nonperforming assets to earning assets 0.99%  1.05%  1.01%  1.00%  0.43%
Allowance for credit losses to nonaccrual loans 107.15%  98.47%  101.98%  102.14%  247.69%
                    


 
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)         
  2nd Quarter 2026 1st Quarter 2026 4th Quarter 2025 3rd Quarter 2025 2nd Quarter 2025
Interest income:               
Interest and fees on loans $220,731 $210,066 $214,252 $210,987  $206,521 
Investment securities  15,827  16,099  17,204  17,343   16,567 
Federal funds sold and securities purchased with agreement to resell  4,146  5,561  5,671  4,724   1,592 
Other interest and dividends  9,176  9,754  14,261  18,254   21,955 
Total interest income  249,880  241,480  251,388  251,308   246,635 
Interest expense:               
Deposits  79,440  78,285  86,920  98,735   93,488 
Borrowed funds  14,803  15,047  17,947  19,125   21,460 
Total interest expense  94,243  93,332  104,867  117,860   114,948 
Net interest income  155,637  148,148  146,521  133,448   131,687 
Provision for credit losses  11,412  10,637  7,922  9,463   11,296 
Net interest income after provision for credit losses  144,225  137,511  138,599  123,985   120,391 
Non-interest income:               
Service charges on deposit accounts  3,338  3,296  3,339  3,316   2,671 
Mortgage banking  2,221  1,892  1,664  1,864   1,323 
Credit card income  2,492  2,202  1,835  2,405   2,119 
Securities losses  -  -  -  (7,812)  (8,563)
Bank-owned life insurance income  4,133  2,822  8,149  2,405   2,126 
Other operating income  708  628  704  655   745 
Total non-interest income  12,892  10,840  15,691  2,833   421 
Non-interest expenses:               
Salaries and employee benefits  26,274  26,853  23,838  25,522   22,576 
Equipment and occupancy expense  3,963  3,948  3,737  3,615   3,523 
Third party processing and other services  7,962  7,525  7,779  8,095   8,005 
Professional services  2,227  1,943  1,481  1,857   1,904 
FDIC and other regulatory assessments  2,753  2,745  2,641  2,742   2,753 
Other real estate owned expense  75  20  13  82   27 
Other operating expenses  6,707  4,350  7,194  6,083   5,416 
Total non-interest expenses  49,961  47,384  46,683  47,996   44,204 
Income before income taxes  107,156  100,967  107,607  78,822   76,608 
Provision for income taxes  21,363  17,996  21,223  13,251   15,184 
Net income  85,793  82,971  86,384  65,571   61,424 
Dividends on preferred stock  31  -  31  -   31 
Net income available to common stockholders $85,762 $82,971 $86,353 $65,571  $61,393 
Basic earnings per common share $1.57 $1.52 $1.58 $1.20  $1.12 
Diluted earnings per common share $1.57 $1.52 $1.58 $1.20  $1.12 
                  


 
AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)
ON A FULLY TAXABLE-EQUIVALENT BASIS
(Dollars in thousands)
                               
  2nd Quarter 2026 1st Quarter 2026 4th Quarter 2025 3rd Quarter 2025 2nd 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 $14,198,439  6.18% $13,751,447  6.18% $13,474,271  6.30% $13,175,297  6.34% $12,979,759  6.37%
Tax-exempt (2)  26,082  37.03   32,976  5.82   30,670  5.52   30,478  5.47   30,346  5.51 
Total loans, net of unearned                              
income  14,224,521  6.23   13,784,423  6.18   13,504,941  6.29   13,205,775  6.34   13,010,105  6.37 
Mortgage loans held for sale  13,327  5.30   10,680  4.40   9,887  4.49   11,351  4.82   11,739  5.23 
Debt securities:                              
Taxable  1,659,147  3.81   1,702,499  3.78   1,826,632  3.77   1,926,101  3.60   1,965,089  3.37 
Tax-exempt (2)  444  5.41   444  5.41   444  5.41   444  5.41   492  4.88 
Total securities (3)  1,659,591  3.81   1,702,943  3.78   1,827,076  3.77   1,926,545  3.60   1,965,581  3.37 
Federal funds sold and securities                              
purchased with agreement to resell  372,645  4.46   501,377  4.50   469,148  4.79   365,733  5.12   124,303  5.14 
Restricted equity securities  12,456  6.41   12,228  6.17   12,193  6.61   12,167  6.36   12,146  6.64 
Interest-bearing balances with banks  964,808  3.73   1,041,026  3.73   1,393,155  4.00   1,608,118  4.45   1,952,479  4.47 
Total interest-earning assets $17,247,348  5.82% $17,052,677  5.75% $17,216,400  5.79% $17,129,689  5.82% $17,076,353  5.80%
Non-interest-earning assets:                              
Cash and due from banks  96,648      103,847      102,066      103,470      109,506    
Net premises and equipment  63,303      61,253      61,009      60,614      59,944    
Allowance for credit losses, accrued                              
interest and other assets  606,506      552,337      556,704      415,586      380,700    
Total assets $18,013,805     $17,770,114     $17,936,179     $17,709,359     $17,626,503    
                               
Interest-bearing liabilities:                              
Interest-bearing deposits:                              
Checking $2,050,758  1.69% $2,101,953  1.60% $2,126,615  1.77% $2,069,440  2.16% $2,222,000  1.78%
Savings  112,077  1.41   110,843  1.42   106,551  1.52   103,668  1.66   101,506  1.63 
Money market  7,956,884  3.03   7,812,168  3.01   7,816,487  3.23   7,965,115  3.67   7,616,747  3.67 
Time deposits  1,274,496  3.26   1,373,023  3.42   1,392,749  3.80   1,344,257  3.97   1,321,404  4.09 
Total interest-bearing deposits  11,394,215  2.80   11,397,987  2.79   11,442,402  3.01   11,482,480  3.41   11,261,657  3.33 
Federal funds purchased  1,549,520  3.74   1,593,215  3.74   1,712,399  4.01   1,640,377  4.46   1,855,860  4.49 
Other borrowings  34,750  4.02   34,750  4.05   59,207  4.21   64,761  4.21   64,750  4.26 
Total interest-bearing liabilities $12,978,485  2.91% $13,025,952  2.91% $13,214,008  3.15% $13,187,618  3.55% $13,182,267  3.50%
Non-interest-bearing liabilities:                              
Non-interest-bearing                              
checking  2,923,956      2,728,354      2,768,495      2,651,043      2,633,552    
Other liabilities  168,793      137,231      143,680      122,873      119,829    
Stockholders' equity  1,944,735      1,879,072      1,813,097      1,762,980      1,716,232    
Accumulated other comprehensive                              
loss  (2,164)     (495)     (3,101)     (15,155)     (25,377)   
Total liabilities and                              
stockholders' equity $18,013,805     $17,770,114     $17,936,179     $17,709,359     $17,626,503    
Net interest spread    2.91%    2.84%    2.64%    2.27%    2.30%
Net interest margin    3.63%    3.53%    3.38%    3.09%    3.10%
                               
(1) Average loans include nonaccrual loans in all periods. Loan fees of $4,763, $5,186, $5,464, $6,103, and $4,430 are included in interest income in the second quarter of 2026, first quarter of 2026, fourth quarter of 2025, third quarter of 2025, and second quarter of 2025, respectively.
(2) Interest income and yields are presented on a fully taxable equivalent basis using a tax rate of 21%.
(3) Unrealized losses on debt securities of $(4,830), $(2,713), $(6,311), $(22,574), and $(36,381) for the second quarter of 2026, first quarter of 2026, fourth quarter of 2025, third quarter of 2025, and second quarter of 2025, respectively, are excluded from the yield calculation.
 


Contact: ServisFirst Bank
Davis Mange (205) 949-3420
dmange@servisfirstbank.com

Exhibit 99.2

 

Selected Financial Data (in thousands except number of employees)  6/30/2026  3/31/2026  6/30/2025
Scheduled CD maturities for subsequent quarter  $558,471   $612,450   $693,261 
Average rate scheduled CD maturities for subsequent quarter   3.32%   3.34%   4.14%
Average loan rate - loan originations/renewals QTD (excludes fees)   6.33%   6.44%   7.07%
Cost of total deposits, Qtr-End   2.21%   2.24%   2.76%
Cost of interest-bearing deposits, Qtr-End   2.80%   2.79%   3.41%
Net interest margin, final month of Qtr   3.59%   3.53%   3.35%
Noninterest bearing DDA balances, Qtr-End  $2,995,402   $2,836,622   $2,632,058 
Reserve for unfunded commitments, Qtr-End  $364   $647   $655 
Credit card spend QTD  $280,533   $270,751   $268,045 
Credit card net income QTD  $2,492   $2,202   $2,119 
Merchant services fees QTD  $714   $572   $600 
Mortgage banking income QTD  $2,221   $1,892   $1,323 
FDIC insurance QTD  $2,475   $2,475   $2,475 
Salaries & employee benefits QTD  $26,274   $26,853   $22,576 
Other operating expense  $6,707   $4,350   $5,416 
Third party processing and other services QTD  $7,962   $7,525   $8,005 
Equipment and occupancy expense QTD  $3,964   $3,948   $3,698 
Earnings retention YTD   75%   75%   71%
QTD tax rate   19.94%   17.82%   19.82%
YTD tax rate   18.91%   17.82%   19.94%
                

Available Liquidity    6/30/2026      3/31/2026      6/30/2025  
Cash and cash equivalents  $1,456,473   $1,836,622   $1,710,904 
Investment Securities (mkt value), net of pledged  $260,846   $479,033   $618,144 
Total on balance sheet liquidity  $1,717,319   $2,315,655   $2,329,048 
                
FHLB fundings availability  $3,403,609   $3,111,128   $3,244,071 
Correspondent lines of credit availability  $150,000   $150,000   $225,000 
Brokered deposit availability (25% of assets per policy)  $4,586,374   $4,542,822   $4,344,657 
Federal Reserve Bank fundings availability  $2,562,745   $2,519,218   $2,211,658 
Total Available Liquidity  $12,420,048   $12,638,823   $12,354,434 

 

Source: View Original Filing on SEC EDGAR

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