ServisFirst Bancshares ( (SFBS) ) has released its Q4 earnings. Here is a breakdown of the information ServisFirst Bancshares presented to its investors.
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ServisFirst Bancshares, Inc., headquartered in Birmingham, Alabama, operates as a bank holding company and provides financial services through its subsidiary, ServisFirst Bank, across multiple states in the southeastern United States. The company offers a range of services including commercial, consumer, and mortgage lending, as well as deposit accounts, electronic banking, and treasury management services.
In its latest earnings report for the fourth quarter of 2024, ServisFirst Bancshares, Inc. reported strong financial performance with diluted earnings per share reaching $1.19, marking an 8% increase from the previous quarter and a 31% increase from the same quarter last year. The company also highlighted improvements in net interest margin and net interest income, alongside a significant growth in deposits and loans.
Key financial metrics from the report include an 8.8% increase in net income to $65.2 million compared to the previous quarter, and a 54.9% surge from the fourth quarter of 2023. The net interest income rose to $123.2 million, while deposits and loans saw annualized growth rates of 12% and 9%, respectively. Additionally, the company enhanced shareholder returns by increasing its cash dividend by 12%, and its book value per share rose by 12% year-over-year.
ServisFirst Bancshares, Inc. maintained strong credit quality with non-performing assets constituting only 0.26% of total assets, and its consolidated common equity tier 1 capital improved to 11.42% from 10.91% a year earlier. The company’s liquidity position remains solid with $2.4 billion in cash on hand and no reliance on brokered deposits or advances.
Looking ahead, the management of ServisFirst Bancshares, Inc. is optimistic about the bank’s prospects for 2025, citing a robust loan pipeline, improving margins, and strong credit quality as key drivers for continued success.
