ServisFirst Bancshares, Inc. Announces Results For Second Quarter of 2025

Core Viewpoint - ServisFirst Bancshares, Inc. reported strong loan growth and improved net interest margins in the second quarter of 2025, despite a slight decline in net income compared to the previous quarter. The company anticipates continued improvement in net interest margins over the next 24 months [3][5][9]. Financial Summary - Net income for the second quarter of 2025 was $61.4 million, down 2.8% from $63.2 million in the first quarter but up 17.8% from $52.1 million in the second quarter of 2024 [7][19]. - Diluted earnings per share were $1.12, a decrease of 3.4% from $1.16 in the first quarter of 2025, but an increase of 17.9% from $0.95 in the second quarter of 2024 [7][19]. - The net interest margin improved to 3.10% in the second quarter from 2.92% in the first quarter of 2025, with adjusted net interest margin at 3.06% [5][9]. - Loans increased by $346 million, or 11% annualized, during the quarter, bringing total loans to $13.23 billion [5][10]. - Total assets decreased by 6.8% from the previous quarter to $17.38 billion, but increased by 8.3% year-over-year [6][19]. - Non-interest income fell significantly to $421,000, a decrease of 95.3% from $8.9 million in the second quarter of 2024 [13][19]. Year-to-Date Results - Year-to-date net income reached $124.6 million, a 22% increase from $102.2 million in the same period last year [4][19]. - Year-to-date diluted earnings per share were $2.28, up 21.9% from $1.87 [4][19]. - Return on average assets improved to 1.42% from 1.30% year-over-year, while return on average common stockholders' equity increased to 15.08% from 13.96% [4][19]. Balance Sheet Highlights - Total deposits decreased by 3.9% from the previous quarter to $13.86 billion, but increased by 4.5% year-over-year [6][11]. - Stockholders' equity rose to $1.72 billion, a 3.2% increase from the previous quarter and a 14% increase year-over-year [6][19]. - Book value per share increased to $31.52, up 14% from the second quarter of 2024 [5][19]. Capital Ratios - Common equity tier 1 capital to risk-weighted assets increased to 11.38% year-over-year from 10.93% [5][20]. - The efficiency ratio improved to 33.46% compared to 37.31% in the second quarter of 2024 [14][19].