ServisFirst Bancshares, Inc. Ranks Fourth Nationally Among Top Publicly Traded Banks with between $10 Billion to $50 Billion in Assets
22 Juli 2024 - 7:28PM
Business Wire
Recognized for Exceptional Performance for
the Third Year in a Row
ServisFirst Bank, a subsidiary of ServisFirst Bancshares
(NYSE:SFBS), is pleased to announce they have ranked fourth in the
top publicly traded banks with between $10 billion to $50 billion
in assets, based on year-end 2023 data. ServisFirst Bancshares is
the only bank in Alabama that made it into the top ten, and this is
the third year in a row that the bank has achieved a top-five
ranking.
The annual list is compiled by consulting firm Capital
Performance Group, which uses each institution’s three-year average
return on average equity, or ROAE, to determine the ranking. These
rankings are published annually by American Banker.
"The top performers remained more liquid in 2023, which helped
their profitability in a rising rate environment," stated Ally
Akins and Claude Hanley, analysts at Capital Performance Group.
The $16 billion-asset institution, ServisFirst Bancshares, had a
3-year average return on average equity (ROAE) of 18.38%, a return
on average assets (ROAA) of 1.37%, a net interest margin (NIM) of
2.81%, nonperforming assets/total assets of 0.13%, and core
deposits/total deposits of 91.30%.
Net loan growth of top performers and the segment overall
exceeded 5% last year, but the strongest banks grew core deposits
in 2023 by more than 2%, while the group overall saw a decline.
This helped the highest-ranked banks to minimize deposit cost
increases because of high rates, supporting net interest margins
and bottom lines. The NIM on average for the top 10 banks were 15
basis points higher than overall. Profits in 2023 were more than
40% higher for the top banks compared to their overall peer
group.
For more information regarding ServisFirst Bank’s recent
ranking, please contact Krista Conlin at Krista@KCProjects.net. For
more about ServisFirst Bank, please visit
www.servisfirstbank.com.
ABOUT SERVISFIRST BANK
ServisFirst Bank is a full-service commercial bank focused on
commercial banking, correspondent banking, treasury management,
private banking and the professional consumer market, emphasizing
competitive products, state-of-the-art technology and a focus on
quality service. Recently, the Bank announced that its assets
exceed $16 billion. The Bank offers sophisticated treasury
management products, Internet banking, home mortgage lending,
remote deposit express banking, and highly competitive rates.
ServisFirst Bank was formed in May 2005, and has offices in
Atlanta, Birmingham, Charleston, Charlotte, Dothan, Huntsville,
Mobile, Montgomery, Nashville, Northwest Florida, Virginia Beach,
West Central Florida, and Western North Carolina. In April 2015,
and annually thereafter, ServisFirst Bank has earned investment-
grade ratings and a stable outlook from Kroll Bond Rating Agency
(KBRA), which measures companies’ financial fundamentals.
ServisFirst Bancshares, Inc. files periodic reports with the U.S.
Securities and Exchange Commission (SEC). Copies of its filings may
be obtained at www.servisfirstbancshares.com.
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Krista Conlin, Krista@KCProjects.net
ServisFirst Bancshares (NYSE:SFBS)
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