ServisFirst Bancshares, Inc. Ranks Third Among Top Publicly Traded Banks with between $10 Billion to $50 Billion in Assets
Second Year in a Row to Receive Third Place Ranking
BIRMINGHAM, Ala., July 12, 2023--(BUSINESS WIRE)--ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), is pleased to announce they have ranked third in the top publicly traded banks with between $10 billion to $50 billion in assets, based on year-end 2022 data. Consulting firm Capital Performance Group partners with American Banker to compile the annual ranking, and this is the second year in a row that ServisFirst Bancshares has achieved the third-place ranking.
In a recent interview with American Banker, Tom Broughton, ServisFirst Bank Chairman, President, and CEO stated, "The company managed to take advantage of excess funds on hand to make loans in areas like commercial real estate. That helped the institution maintain its strong results."
The $14.6 billion-asset institution, ServisFirst Bancshares, had noninterest expenses that were 1.06% of average assets, well below the median of 1.97%. CPG primarily ranked the banks by their three-year average return on average equity between 2020 and 2022. The median ROAE for all banks in the $10 billion to $50 billion asset category was 9.64%, a slight increase from the year-ago figure of 9.13%. This metric was 17.03% for the top 10 performers.
"At the end of the day, it's about who can play defense better," said Claude Hanley, a partner at Capital Performance Group. "That defense came in a few different varieties: They managed to maintain their margin in the face of rising interest rates and slowing loan demand, and they managed to maintain noninterest income."
For more information regarding ServisFirst Bank’s recent American Banker interview and 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 $14 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/20230712209068/en/
Contacts
Krista Conlin, Krista@KCProjects.net
