As we reflect on the first quarter of 2024, we are filled with a sense of accomplishment at the strides we’ve made and the successes we've achieved together. At ServisFirst Bank, our commitment to excellence remains steadfast, driving our continuous growth and positioning us as a leader in the financial sector.

We take great pride in offering first-class commercial, mortgage, treasury, and online banking solutions, tailored to meet the unique needs of businesses and individuals alike. Our focus on innovation and unparalleled customer service sets us apart, ensuring that every interaction is exceptional and efficient.

In this newsletter, we're pleased to share an overview of ServisFirst Bank's earnings results, significant announcements, and relevant market insights that have shaped the landscape of the first quarter. We firmly believe that staying informed and connected is crucial to your financial success, and we're dedicated to providing you with the insights and resources you need to thrive.

ServisFirst Bancshares, Inc. Announces Results

For First Quarter of 2024

First Quarter 2024 Highlights

• Loans grew by 8% annualized for the first quarter of 2024.
• Net interest margin increased to 2.66% for the first quarter of 2024 from 2.57% for the fourth quarter of 2023.
• Credit quality continues to be strong with non-performing assets to total assets of 0.22%.
• Deposits grew 10% year-over-year.
• Book value per share of $27.08, up 10% from the first quarter of 2023.



For more detailed financials, please read the press release below.

ServisFirst Bank Expands Footprint in Tennessee

In the first quarter, ServisFirst Bank proudly announced its expansion in the Tennessee region by adding a new office in Memphis, Tennessee. Nine veteran bankers have joined the bank's commitment to excellence and customer service in the Memphis community.

ServisFirst Bank Memphis welcomes Joel E. Smith as Market President, Scott Forman as Sr. Vice President, Commercial Banking, and Michael Joyner as Sr. Vice President, Commercial Banking Relationship Manager. Coers Adams joins as Vice President, Commercial Banking, Harriette Stevens joins as Vice President, Private Banking and Regional Branch Manager, and Bill Sternberger joins as Assistant Vice President, Private Banking Officer. Additionally, ServisFirst Bank Memphis brings on board Jake Farrell as Chairman of Tennessee (not pictured), Megan Latta as Treasury Management Sales and Trudy Griffin as Commercial Client Relationship Associate. The Memphis office is currently operating as a loan production office and plans to be in its permanent location later this Fall.

"ServisFirst Bank Memphis is thrilled to announce the opening of our new office, bringing together a team of trusted and experienced veteran bankers," states Joel E. Smith, Market President of ServisFirst Bank Memphis. "Our team is dedicated to delivering excellence and top-notch customer service to the Memphis community. This expansion represents our commitment to providing tailored financial solutions and building lasting relationships with our clients. We are excited to be a part of the vibrant Memphis market and look forward to serving the needs of businesses and individuals alike."

“We are excited to expand our Tennessee footprint with the opening of a new office in Memphis,” states Bradford Vieira, Regional President, and CEO of ServisFirst Bank Tennessee. "This marks a significant milestone for the bank, and with Joel’s leadership, we are enthusiastic about building strong, lasting relationships within the Memphis community.”