News about SFBS

ServisFirst Bancshares (SFBS) reported third-quarter net income of $87.3 million, up 33.2% year over year, with diluted EPS of $0.80 versus $0.60. Total loans rose 10.7% to $14.7 billion, led by commercial and industrial and investor real estate lending, while net interest income grew 19.8% to $159.8 million and net interest margin widened to 3.6%. Total deposits fell 3.2% from the prior quarter as management let higher-rate municipal deposits roll off, while noninterest-bearing deposits grew 12% year over year to $2.9 billion. The efficiency ratio improved to 30.2%, although noninterest expense rose 8.8%, with the Houston expansion accounting for 40% of the increase, and nonaccrual loans fell to $160.1 million. The company authorized a share repurchase of up to 2 million shares through December 31, 2027.