ServisFirst Bancshares, Inc. Ranks Fourth Nationally Among Top Publicly Traded Banks with between $10 Billion to $50 Billion in Assets

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ServisFirst Bancshares (NYSE:SFBS) has been ranked fourth among top publicly traded banks with assets between $10 billion to $50 billion, based on 2023 year-end data. This marks the third consecutive year ServisFirst has achieved a top-five ranking, and it's the only Alabama bank in the top ten.

The ranking, compiled by Capital Performance Group and published by American Banker, is based on each institution's three-year average return on average equity (ROAE). ServisFirst Bancshares, with $16 billion in assets, reported impressive financial metrics:

• 3-year average ROAE: 18.38%
• Return on average assets (ROAA): 1.37%
• Net interest margin (NIM): 2.81%
• Nonperforming assets/total assets: 0.13%
• Core deposits/total deposits: 91.30%

Top-performing banks maintained higher liquidity in 2023, contributing to their profitability in a rising rate environment. They also demonstrated stronger core deposit growth, helping to minimize deposit cost increases and support net interest margins.

Recognized for Exceptional Performance for the Third Year in a Row

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722170059/en/

Krista Conlin, Krista@KCProjects.net

Source: ServisFirst Bank

FAQ

What ranking did ServisFirst Bancshares (SFBS) achieve in 2023?

ServisFirst Bancshares (SFBS) ranked fourth among top publicly traded banks with assets between $10 billion to $50 billion, based on 2023 year-end data.

How many consecutive years has ServisFirst Bancshares (SFBS) been in the top five?

ServisFirst Bancshares (SFBS) has achieved a top-five ranking for three consecutive years.

What was ServisFirst Bancshares' (SFBS) 3-year average return on average equity (ROAE) in 2023?

ServisFirst Bancshares' (SFBS) 3-year average return on average equity (ROAE) was 18.38% in 2023.

What was ServisFirst Bancshares' (SFBS) net interest margin (NIM) in 2023?

ServisFirst Bancshares' (SFBS) net interest margin (NIM) was 2.81% in 2023.

How did ServisFirst Bancshares (SFBS) perform in terms of core deposits to total deposits ratio in 2023?

ServisFirst Bancshares (SFBS) reported a core deposits to total deposits ratio of 91.30% in 2023.