BIRMINGHAM, Ala., June 17, 2025 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc., (NYSE: SFBS) (“ServisFirst”), the holding company for ServisFirst Bank, today announces: At a meeting held on June 16, 2025, its Board of Directors declared a quarterly cash dividend of $0.335 per share, payable on July 9, 2025, to stockholders of record as of July 1, 2025. About ServisFirst Bancshares, Inc. ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst ...

Group 1 - ServisFirst Bancshares has a market capitalization of $4.01 billion, positioning it as one of the larger financial firms [1] - Crude Value Insights focuses on cash flow and companies in the oil and natural gas sector, highlighting their value and growth prospects [1] Group 2 - Subscribers of Crude Value Insights gain access to a 50+ stock model account and in-depth cash flow analyses of exploration and production firms [2] - The service includes live chat discussions about the oil and gas sector [2]

Financial Performance - Net income for the three months ended March 31, 2025, was $63,224 thousand, up 26.3% from $50,026 thousand in the same period of 2024 [12]. - Basic earnings per common share for Q1 2025 was $1.16, compared to $0.92 for Q1 2024, representing a 26.1% increase [12]. - Comprehensive income for the three months ended March 31, 2025, was $70,295 thousand, compared to $51,029 thousand for the same period in 2024, reflecting a growth of 37.7% [14]. - Net interest income after provision for credit losses rose to $116,923 thousand, a 19.3% increase from $97,960 thousand year-over-year [12]. - Total interest income increased to $241,096 thousand in Q1 2025, a rise of 6.3% from $226,710 thousand in Q1 2024 [12]. - Noninterest expense for Q1 2025 was $46,107 thousand, slightly down from $46,231 thousand in Q1 2024, showing a decrease of 0.3% [12]. Assets and Liabilities - Total assets increased to $18,636,766 thousand as of March 31, 2025, compared to $17,351,643 thousand at December 31, 2024, reflecting a growth of 7.4% [9]. - Total liabilities reached $16,967,866 thousand as of March 31, 2025, up from $15,734,871 thousand at December 31, 2024, an increase of 7.8% [9]. - The total stockholders' equity attributable to ServisFirst Bancshares, Inc. increased to $1,668,400 thousand as of March 31, 2025, from $1,616,272 thousand at December 31, 2024, an increase of 3.2% [9]. - Total cash and cash equivalents at the end of the period reached $3,349,720 thousand, compared to $1,450,899 thousand at the end of Q1 2024, marking a significant increase [21]. Deposits - Total deposits increased to $14,429,061 thousand as of March 31, 2025, compared to $13,543,459 thousand at December 31, 2024, marking a growth of 6.5% [9]. - The company reported a net increase in interest-bearing deposits of $857,712 thousand, compared to a decrease of $506,601 thousand in the same period last year [21]. Credit Losses and Provisions - Provision for credit losses increased to $6,630 thousand in Q1 2025, compared to $4,535 thousand in Q1 2024, indicating a rise of 46.4% [12]. - The allowance for credit losses was $165,034 thousand, slightly higher than $164,458 thousand at the end of the previous quarter [41]. - The company expects national unemployment to rise and GDP growth to decline compared to the December 31, 2024 forecast, which may impact loan performance [49]. Loan Portfolio - Total loans increased to $12,886,831 thousand as of March 31, 2025, up from $12,605,836 thousand at December 31, 2024, representing a growth of 2.23% [41]. - The net loans amount to $12,721,797 thousand after accounting for an allowance for credit losses of $165,034 thousand [41]. - The credit quality indicators show that 64.39% of the real estate mortgage loans are classified as "Pass" as of March 31, 2025 [41]. - The commercial, financial, and agricultural loans represent 22.69% of total loans, a slight decrease from 22.77% [41]. - The total gross write-offs for the current period amounted to $6,092,000, reflecting a significant increase in write-offs compared to previous periods [43]. Stock and Compensation - The stock incentive plan incurred a compensation cost of approximately $864,000 for the three months ended March 31, 2025, down from $958,000 in 2024 [70]. - The company authorized the grant of up to 5,550,000 shares under its 2009 Amended and Restated Stock Incentive Plan [71]. - As of March 31, 2025, there were 139,446 unvested restricted stock shares with a weighted average grant date fair value of $70.97 [78]. Investment Securities - The total amortized cost of available-for-sale debt securities was $1,239,919,000, with a fair value of $1,203,837,000, reflecting an unrealized loss of $38,725,000 [29]. - The amortized cost of held-to-maturity debt securities was $701,713,000, with a fair value of $639,455,000, indicating an unrealized loss of $62,367,000 [30]. - The total available-for-sale debt securities increased to $1,203,837,000 as of March 31, 2025, compared to $1,161,400,000 as of December 31, 2024, reflecting a growth of about 3.6% [93]. Economic Outlook - The company anticipates inherent risks in the loan portfolio will differ based on loan type, with commercial and industrial loans facing significant risks related to cash flow and economic downturns [53]. - Real estate construction loans are subject to higher risks during economic stress, influenced by borrower creditworthiness and market dynamics [54].

Core Insights - ServisFirst Bancshares reported revenue of $131.83 million for Q1 2025, an increase of 18.4% year-over-year, but slightly below the Zacks Consensus Estimate of $132.75 million, resulting in a revenue surprise of -0.69% [1] - The company's EPS for the quarter was $1.16, up from $0.94 in the same quarter last year, but also fell short of the consensus estimate of $1.18, leading to an EPS surprise of -1.69% [1] Financial Performance Metrics - Efficiency Ratio was reported at 35%, matching the average estimate from analysts [4] - Net charge-offs to total average loans were 0.2%, higher than the estimated 0.1% [4] - Net Interest Margin was 2.9%, below the average estimate of 3% [4] - Average Balance of Interest-earning Assets was $17.19 billion, exceeding the estimated $16.85 billion [4] - Net Interest Income was $123.55 million, slightly below the average estimate of $124.71 million [4] - Total Non-interest Income was $8.28 million, surpassing the average estimate of $8.03 million [4] - Credit card income was $1.97 million, above the estimated $1.86 million [4] - Service charges on deposit accounts reached $2.56 million, exceeding the average estimate of $2.37 million [4] - Mortgage banking income was $0.61 million, below the estimated $1.02 million [4] - Other Operating Income was reported at $1 million, higher than the average estimate of $0.73 million [4] Stock Performance - ServisFirst shares have declined by 14.8% over the past month, compared to a 5.6% decline in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

分组1 - ServisFirst Bancshares reported quarterly earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.18 per share, but showing an increase from $0.94 per share a year ago, resulting in an earnings surprise of -1.69% [1] - The company posted revenues of $131.83 million for the quarter ended March 2025, which was below the Zacks Consensus Estimate by 0.69%, and an increase from $111.31 million year-over-year [2] - Over the last four quarters, ServisFirst has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] 分组2 - ServisFirst shares have declined approximately 17.7% since the beginning of the year, compared to a decline of 10.2% for the S&P 500 [3] - The current consensus EPS estimate for the upcoming quarter is $1.23 on revenues of $139.78 million, and for the current fiscal year, it is $5.17 on revenues of $571.57 million [7] - The Financial - Savings and Loan industry, to which ServisFirst belongs, is currently ranked in the top 30% of over 250 Zacks industries, indicating a favorable outlook [8]

Financial Performance - Net income for Q1 2025 was $63.2 million, a decrease of 3.0% from Q4 2024 but an increase of 26.4% from Q1 2024[4] - Diluted earnings per share for Q1 2025 were $1.16, down 2.5% from Q4 2024 but up 26.1% from Q1 2024[4] - Net income for Q1 2025 reached $63,224,000, compared to $50,026,000 in Q1 2024, reflecting a 26.3% increase[24] - Basic earnings per common share rose to $1.16 in Q1 2025, compared to $0.92 in Q1 2024[27] - Net income available to common stockholders for Q1 2025 was $63,224 thousand, a slight decrease from $65,142 thousand in Q4 2024, showing resilience amid challenging conditions[31] Asset and Deposit Growth - Total deposits increased by $886 million, or 26.3% annualized, from Q4 2024, and by $1.68 billion, or 13.2%, from Q1 2024[11] - Total deposits increased to $14,429,061,000 in Q1 2025, compared to $12,751,448,000 in Q1 2024, a growth of 13.2%[20] - Total assets as of March 31, 2025, were $18,636,766,000, up from $15,721,630,000 a year earlier, indicating a growth of 18.3%[20] - Total assets increased by 19% to $18,636,766 thousand in March 2025 from $15,721,630 thousand in March 2024[26] Loan Performance - Loans grew by $281 million, or 9.0% annualized, from Q4 2024, and by $1.01 billion, or 8.5%, from Q1 2024[10] - Loans increased by 9% to $12,886,831 thousand in Q1 2025 from $11,880,696 thousand in Q1 2024[28] - Interest income from loans increased to $196,936 thousand in Q1 2025, up from $186,978 thousand in Q1 2024[27] Credit Quality and Provisions - Non-performing assets to total assets were 0.40%, an increase from 0.22% in Q1 2024[12] - The allowance for credit losses as a percentage of total loans was 1.28% as of March 31, 2025[12] - The provision for credit losses was $6,630,000 in Q1 2025, compared to $4,535,000 in Q1 2024, indicating a cautious approach to credit risk management[20] - Nonperforming loans to total loans ratio increased to 0.57% in Q1 2025 from 0.34% in Q4 2024, indicating a rise in troubled loans[29] - Net charge-offs increased to $5,894 thousand in Q1 2025 from $2,695 thousand in Q4 2024, highlighting a significant rise in loan defaults[29] Income and Expense Analysis - Net interest income for Q1 2025 was $123.6 million, compared to $102.5 million in Q1 2024[9] - Non-interest income decreased by $631,000, or 7.1%, to $8.3 million for Q1 2025 compared to Q1 2024[13] - Non-interest expense decreased by $124,000, or 0.3%, to $46.1 million for Q1 2025 compared to Q1 2024[14] - Salary and benefit expense decreased by $107,000, or 0.5%, to $22.9 million for Q1 2025 from $23.0 million in Q1 2024[14] Efficiency and Profitability Ratios - Return on average common stockholders' equity was 15.63%, up from 13.82% in Q1 2024[8] - The efficiency ratio improved to 34.97% in Q1 2025 from 43.30% in Q1 2024[14] - Return on average assets for Q1 2025 was 1.45%, an increase from 1.26% in Q1 2024, indicating improved profitability[24] Market Expansion and Strategic Initiatives - Management is exploring opportunities for new market expansions in the Southeast[3]

Financial Data and Key Metrics Changes - The company reported net interest income of $123.5 million, which is $21 million higher than the first quarter of 2024 and slightly higher than the fourth quarter of 2024 [3] - Tangible book value increased by 3% since last quarter and 13% year-over-year, ending at $30.31 per share [2] - The common equity Tier 1 capital ratio stood at 11.4% and the risk-based capital ratio at 12.9% for the quarter [2] - The provision expense was $6.6 million, up $2.1 million from the first quarter of 2024 and $900,000 from the fourth quarter [6] - The allowance for credit losses ended the quarter at just over $165 million, an increase of about $576,000 from the fourth quarter [7] Business Line Data and Key Metrics Changes - Non-interest income decreased by about 7% compared to the first quarter of 2024, primarily due to a one-time benefit recorded in 2024, but normalized rates showed a 7% increase driven by higher service charges on deposit accounts [8] - Non-interest expense was down $789,000 compared to the fourth quarter of 2024 and flat compared to the first quarter of 2024, reflecting expense discipline despite a 5% growth in employee numbers [10] Market Data and Key Metrics Changes - The loan-to-deposit ratio stands at 89%, with an adjusted ratio of 77% when including correspondent Fed funds purchased [1] - The company anticipates over $1.9 billion in asset repricing over the next 12 months [6] Company Strategy and Development Direction - The company is focused on organic loan and deposit growth, priced competitively and profitably, with expectations of loan growth in low double digits [12][36] - There is an ongoing evaluation of new producers and potential hires to support expansion efforts [45] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the durability of Main Street compared to Wall Street, indicating a mixed impact from current market uncertainties [26] - The company does not foresee significant impacts from tariffs and remains optimistic about the balance of the year [28][32] Other Important Information - The company experienced a significant increase in Fed balances, averaging $380 million, which aids liquidity but negatively impacts margin calculations [2][4] - The company is looking for additional avenues to improve income without increasing risk, given the excess liquidity [61] Q&A Session Summary Question: How does the company view deposit trends for the rest of the year? - Management indicated that municipal deposits may decline as the year progresses, with correspondent balances leveling off after tax season [21][22] Question: What is the outlook for loan growth and demand post-pandemic? - Management noted a potential slowdown but remains optimistic about steady, granular growth across various markets [26][38] Question: What is the current loan pricing dynamic? - Loan pricing has remained steady, but management expressed dissatisfaction with current pricing levels, indicating they should be higher [43] Question: What is the expected range for non-interest expenses for the remainder of the year? - Non-interest expenses are expected to be in the range of $46 to $46.5 million, excluding potential new hires [45] Question: Can you provide details on non-performing loans? - Non-performing loans are primarily in the medical sector, including a hospital and a doctor with cash flow issues but good collateral [48][52]

Financial Data and Key Metrics Changes - The company reported net interest income of $123.5 million, which is $21 million higher than the first quarter of 2024 and slightly higher than the fourth quarter of 2024 [3] - Tangible book value increased by 3% since the last quarter and 13% year-over-year, ending at $30.31 per share [2] - The common equity Tier 1 capital ratio stood at 11.4% and the risk-based capital ratio at 12.9% for the quarter [2] - The provision expense was $6.6 million, up $2.1 million from the first quarter of 2024 and $900,000 from the fourth quarter [6] - The allowance for credit losses ended the quarter at just over $165 million, an increase of about $576,000 from the fourth quarter [7] Business Line Data and Key Metrics Changes - Non-interest income decreased by about 7% compared to the first quarter of 2024, primarily due to a one-time benefit recorded in 2024 [8] - However, on a normalized basis, non-interest income increased by about 7% compared to the first quarter of 2024, driven by higher service charges on deposit accounts [8] - Non-interest expense was down $789,000 compared to the fourth quarter of 2024 and flat compared to the first quarter of 2024 [10] Market Data and Key Metrics Changes - The loan-to-deposit ratio stands at 89%, with an adjusted ratio of 77% when including correspondent Fed funds purchased [1] - The company anticipates over $1.9 billion in asset repricing over the next 12 months [6] Company Strategy and Development Direction - The company continues to focus on organic loan and deposit growth, priced competitively and profitably [12] - Management expressed optimism about the balance of the year, noting that the commercial real estate transactions need short-term interest rates to decrease for improvement [27] - The company is looking for additional levers to improve income without increasing risk, considering deploying excess liquidity [61] Management Comments on Operating Environment and Future Outlook - Management noted a potential slowdown in loan demand but emphasized the resilience of Main Street compared to Wall Street [26] - There is no significant impact from tariffs observed, and management remains optimistic about the overall economic environment [28][32] - The company expects cash balances to decrease over the next few months, which may positively impact net interest margin [24] Other Important Information - The company experienced a seasonal spike in payroll taxes in the first quarter, but payroll expenses were down about 5% compared to the fourth quarter due to adjustments in incentive plan payouts [10] - The efficiency ratio was reported below 35%, reflecting strong expense discipline [11] Q&A Session Summary Question: How does the company view deposit trends for the rest of the year? - Management indicated that municipal deposits may decline as the year progresses, with correspondent balances leveling off after tax season [21][22] Question: What is the outlook for net interest margin (NIM)? - Management expects cash balances to decrease, which may help improve NIM as the balance sheet remixes [23][24] Question: What is the company's perspective on loan growth and pipeline demand? - Management remains optimistic about loan growth, noting steady and granular growth across various markets [38][39] Question: How are loan pricing dynamics evolving? - Loan pricing has remained steady, but management expressed concerns that current pricing levels should be higher [42][43] Question: What is the expected trend for operating expenses? - Operating expenses are projected to remain in the range of $46 to $46.5 million, excluding potential new hires [44][45] Question: Can you provide details on non-performing loans? - Non-performing loans are primarily in the medical sector, with good collateral backing them [48][52]

Financial Performance - Net income available to common stockholders increased by 9.9% to $227.2 million in 2024 from $206.8 million in 2023[256] - Return on average assets improved to 1.39% in 2024 from 1.37% in 2023[259] - Return on average stockholders' equity decreased slightly to 14.98% in 2024 from 15.13% in 2023[259] - Stockholders' equity grew by $176.4 million to $1.62 billion in 2024, driven by net income of $227.2 million[315] Loan and Deposit Growth - Average loans rose by 4.7% to $12.15 billion in 2024, with an increase of $548.0 million[258] - Average deposits increased by 7.7% to $13.20 billion in 2024, reflecting a growth of $940.0 million[258] - Total loans outstanding reached $12,605,836 thousand, an increase from $11,658,829 thousand in 2023[299] - Commitments to extend credit increased to $3.55 billion in 2024 from $3.41 billion in 2023, reflecting a 4.2% rise[319] Interest Income and Margin - Net interest income grew by 8.7% to $446.7 million in 2024, driven by an increase in both the average balance and rate on interest-earning assets[258] - Net interest margin increased by one basis point to 2.82% in 2024[258] - Total interest-earning assets generated $946.1 million in interest income in 2024, compared to $813.4 million in 2023[274] - The increase in net interest income was primarily driven by a $88.8 million increase in interest earned from loans[273] Noninterest Income and Expenses - Noninterest income increased by 15.3% to $35.1 million in 2024, primarily due to higher mortgage banking income and bank-owned life insurance income[258] - Noninterest expense rose by 1.7% to $181.1 million in 2024, mainly due to higher salaries and third-party processing expenses[258] - Total noninterest expenses rose by $3.1 million, or 1.7%, to $181.1 million for the year ended December 31, 2024, primarily due to a 19.0% increase in salaries and employee benefits[282] Credit Losses and Nonperforming Loans - Provision for credit losses increased by 15.3% to $21.6 million in 2024 from $18.7 million in 2023[257] - Nonaccrual loans increased to $39,501 thousand, representing 0.31% of total loans, up from 0.17% in 2023[300] - Total nonperforming assets rose to $45.0 million in 2024, up 99% from $22.5 million in 2023[308] - The ratio of nonperforming loans to total loans increased to 0.34% in 2024 from 0.18% in 2023[308] Asset and Liability Management - Total assets increased by $1.22 billion, or 7.6%, to $17.35 billion as of December 31, 2024, with total loans rising by $947.0 million, or 8.1%[286] - The Bank's liquidity position included $2.73 billion in liquid assets as of December 31, 2024[329] - The interest rate sensitivity gap is monitored, with a requirement that net interest margins will not change more than 10% if interest rates change by 100 basis points[344] - The asset liability committee conducts quarterly analyses of rate sensitivity, reporting findings to the Board of Directors[351] Investment Portfolio - The investment portfolio's amortized cost totaled $1.92 billion at December 31, 2024, down from $1.95 billion at December 31, 2023[290] - The total amount of securities available for sale was $1.21 billion, with U.S. Treasury Securities comprising $617.35 million[291] - The company’s mortgage-backed securities had a weighted average yield of 2.25% for total securities available for sale[291] - The investment policy aims to balance market and credit risks while ensuring liquidity to meet loan demand[293] Economic Outlook - The company expects a more favorable economic outlook, including lower unemployment rates and projected GDP growth compared to 2023[300] - The Federal Reserve increased its targeted federal funds rate by 525 basis points, ending 2024 at 5.40%[347]

Core Insights - ServisFirst Bancshares reported a revenue of $131.97 million for Q4 2024, marking a 21% increase year-over-year and exceeding the Zacks Consensus Estimate by 4.35% [1] - The company's EPS for the quarter was $1.19, up from $0.91 in the same quarter last year, representing an EPS surprise of 8.18% over the consensus estimate of $1.10 [1] Financial Performance Metrics - Efficiency Ratio was reported at 35.5%, better than the estimated 36% [4] - Net charge-offs to total average loans remained stable at 0.1%, matching analyst estimates [4] - Net Interest Margin was 3%, surpassing the average estimate of 2.9% [4] - Average Balance of Interest-earning Assets was $16.53 billion, exceeding the estimated $16.27 billion [4] - Net Interest Income reached $123.17 million, above the average estimate of $118.18 million [4] - Total Non-interest Income was $8.80 million, higher than the estimated $8.29 million [4] - Credit card income was reported at $1.87 million, below the estimated $2.21 million [4] - Service charges on deposit accounts totaled $2.65 million, exceeding the estimated $2.32 million [4] - Mortgage banking income was $1.51 million, significantly higher than the estimated $0.89 million [4] - Other Operating Income was $0.64 million, below the estimated $0.81 million [4] Stock Performance - ServisFirst shares have returned +2% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]