ServisFirst Bancshares, Inc. (SFBS) 10-Year Financial Performance & Capital Metrics

SFBS • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutServisFirst Bancshares, Inc. operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, such as seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans. It also offers other banking products and services comprising telephone and mobile banking, direct deposit, Internet banking, traveler's checks, safe deposit boxes, attorney trust accounts, automatic account transfers, automated teller machines, and debit card systems, as well as Visa credit cards; treasury and cash management services; wire transfer, night depository, banking-by-mail, and remote capture services; and correspondent banking services to other financial institutions. In addition, the company holds and manages participations in residential mortgages and commercial real estate loans originated by ServisFirst Bank in Alabama, Florida, Georgia, and Tennessee. It operates 23 full-service banking offices located in Alabama, Florida, Georgia, South Carolina, and Tennessee, as well as 2 loan production offices in Florida. The company was founded in 2005 and is headquartered in Birmingham, Alabama.Show more

Net Interest Income $447M +8.7%
Total Revenue $977M +17.9%
Net Income $227M +9.9%
Return on Equity 14.87% -1.6%
Net Interest Margin 2.57% +1.0%
Efficiency Ratio 18.12% -8.0%
ROA 1.36% +0.8%
Equity / Assets 9.32% +4.3%
Book Value per Share 29.59 +12.0%
Tangible BV/Share 29.34 +12.1%
Debt/Equity 1.27 +38.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 18.1% efficiency ratio
✓10 consecutive years of dividend growth
✓Good 3Y average ROE of 16.8%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y20.51%

5Y18.94%

3Y30.72%

TTM-

Profit (Net Income) CAGR

10Y15.81%

5Y8.77%

3Y3.04%

TTM25.1%

EPS CAGR

10Y14.76%

5Y8.55%

3Y2.88%

TTM24.87%

ROCE

10Y Avg20.34%

5Y Avg19.72%

3Y Avg18.68%

Latest16.61%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	162.27M	187.1M	227.42M	262.68M	287.64M	338.04M	384.5M	470.89M	410.94M	446.66M
NII Growth %	0.24%	0.15%	0.22%	0.16%	0.1%	0.18%	0.14%	0.22%	-0.13%	0.09%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	179.97M	212.9M	262.76M	326.63M	390.8M	389.02M	416.31M	559.32M	813.25M	946.12M
Interest Expense	17.7M	25.8M	35.33M	63.95M	103.16M	50.98M	31.8M	88.42M	402.31M	499.46M
Loan Loss Provision	12.85M	13.4M	23.23M	21.4M	22.64M	42.43M	31.52M	37.61M	18.71M	21.59M
Non-Interest Income+	6.59M	10.24M	12.59M	15.98M	19.75M	24.88M	21.12M	21.15M	15.57M	31M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	186.57M	223.14M	275.34M	342.61M	410.56M	413.9M	437.43M	580.46M	828.82M	977.12M
Revenue Growth %	0.23%	0.2%	0.23%	0.24%	0.2%	0.01%	0.06%	0.33%	0.43%	0.18%
Non-Interest Expense	67.01M	73.12M	79.44M	88.41M	97.9M	106.27M	120.76M	145.6M	163.2M	177.09M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	89M	110.82M	137.35M	168.84M	186.86M	214.21M	253.35M	308.83M	244.59M	278.98M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.2%	0.25%	0.24%	0.23%	0.11%	0.15%	0.18%	0.22%	-0.21%	0.14%
Pretax Income+	89M	110.82M	137.35M	168.84M	186.86M	214.21M	253.35M	308.83M	244.59M	278.98M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	25.46M	29.34M	44.26M	31.9M	37.62M	44.64M	45.62M	57.32M	37.73M	51.74M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	63.54M	81.48M	93.09M	136.94M	149.24M	169.57M	207.73M	251.5M	206.85M	227.24M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.21%	0.28%	0.14%	0.47%	0.09%	0.14%	0.23%	0.21%	-0.18%	0.1%
Net Income (Continuing)	63.54M	81.48M	93.09M	136.94M	149.24M	169.57M	207.73M	251.5M	206.85M	227.24M
EPS (Diluted)+	1.20	1.52	1.72	2.53	2.76	3.13	3.82	4.61	3.79	4.16
EPS Growth %	0.14%	0.27%	0.13%	0.47%	0.09%	0.13%	0.22%	0.21%	-0.18%	0.1%
EPS (Basic)	1.23	1.55	1.76	2.58	2.79	3.15	3.83	4.63	3.79	4.16
Diluted Shares Outstanding	52.88M	53.61M	54.12M	54.17M	54.1M	54.22M	54.44M	54.53M	54.53M	54.64M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	317.45M	623.56M	238.06M	458.05M	530.13M	2.21B	4.16B	814.54M	2.03B	2.38B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	4.56B	5.35B	6.34B	7.06B	7.95B	9.28B	10.72B	13.22B	13.39B	14.33B
Investments Growth %	0.25%	0.17%	0.18%	0.11%	0.13%	0.17%	0.16%	0.23%	0.01%	0.07%
Long-Term Investments	4.21B	4.93B	5.8B	6.47B	7.19B	8.39B	9.88B	12.58B	12.57B	13.88B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	13.62M	0	0	0	0	0	13.6M	13.62M	13.62M	13.62M
Intangible Assets	1.71M	15M	14.72M	14.45M	14.18M	13.91M	38K	0	0	0
PP&E (Net)	19.43M	40.31M	58.9M	57.82M	56.5M	54.97M	60.3M	59.85M	59.32M	59.19M
Other Assets	149.65M	298.13M	401.34M	370.51M	344.19M	307.12M	415.63M	376.67M	510.68M	451.87M
Total Current Assets	674.09M	1.06B	796.8M	1.07B	1.32B	3.13B	5.04B	1.51B	2.92B	2.88B
Total Non-Current Assets	4.42B	5.31B	6.29B	6.94B	7.63B	8.8B	10.41B	13.09B	13.21B	14.47B
Total Assets+	5.1B	6.37B	7.08B	8.01B	8.95B	11.93B	15.45B	14.6B	16.13B	17.35B
Asset Growth %	0.24%	0.25%	0.11%	0.13%	0.12%	0.33%	0.29%	-0.06%	0.11%	0.08%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%
Accounts Payable	2.37M	4.4M	4.97M	10.38M	11.93M	12.32M	13.62M	18.61M	27.55M	28.03M
Total Debt+	408M	411.21M	366.63M	353.39M	535.45M	916.29M	1.78B	1.68B	1.32B	2.06B
Net Debt	90.55M	-212.36M	128.57M	-104.66M	5.33M	-1.29B	-2.39B	868.99M	-709.05M	-317.12M
Long-Term Debt	55.64M	55.26M	64.83M	64.67M	64.7M	64.75M	64.71M	64.73M	64.73M	64.74M
Short-Term Debt	352.36M	355.94M	301.8M	288.73M	470.75M	851.54M	1.71B	1.62B	1.26B	1.99B
Other Liabilities	12.11M	11.64M	11.51M	12.7M	27.15M	35.46M	53.85M	48.91M	66.75M	104.92M
Total Current Liabilities	4.58B	5.78B	6.4B	7.21B	8.01B	10.84B	14.18B	13.18B	14.56B	15.57B
Total Non-Current Liabilities	67.75M	66.9M	76.34M	77.36M	91.86M	100.21M	118.56M	113.64M	131.48M	169.66M
Total Liabilities	4.65B	5.85B	6.47B	7.29B	8.1B	10.94B	14.3B	13.3B	14.69B	15.73B
Total Equity+	449.15M	522.89M	607.6M	715.2M	842.68M	992.85M	1.15B	1.3B	1.44B	1.62B
Equity Growth %	0.1%	0.16%	0.16%	0.18%	0.18%	0.18%	0.16%	0.13%	0.11%	0.12%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.15%	0.17%	0.16%	0.21%	0.19%	0.18%	0.19%	0.21%	0.15%	0.15%
Book Value per Share	8.49	9.75	11.23	13.20	15.58	18.31	21.16	23.80	26.41	29.59
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	26K	53K	53K	53K	54K	54K	54K	54K	54K	54K
Additional Paid-in Capital	211.55M	215.93M	217.69M	218.52M	219.77M	223.86M	226.4M	229.69M	232.6M	235.78M
Retained Earnings	234.15M	307.15M	389.6M	500.87M	616.61M	748.22M	911.01M	1.11B	1.25B	1.41B
Accumulated OCI	3.05M	-624K	-198K	-4.74M	5.75M	20.22M	14.06M	-42.25M	-47.59M	-32.18M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	76.27M	98.52M	118.46M	168.3M	164.28M	191.29M	266.33M	272.63M	197.3M	252.91M
Operating CF Growth %	0.17%	0.29%	0.2%	0.42%	-0.02%	0.16%	0.39%	0.02%	-0.28%	0.28%
Net Income	63.54M	81.48M	93.09M	136.94M	149.24M	169.57M	207.73M	251.5M	206.85M	227.24M
Depreciation & Amortization	2.6M	3.06M	2.85M	3.65M	3.95M	4.1M	4.39M	4.12M	4.44M	4.79M
Deferred Taxes	-4.72M	-1.53M	14.13M	-14.09M	-1.07M	-9.72M	-5.06M	-2.62M	-1M	-3.35M
Other Non-Cash Items	14.09M	20.78M	26.99M	28.92M	19.59M	41.68M	66.89M	57.46M	29.88M	29.95M
Working Capital Changes	-500K	-6.46M	-19.76M	12.04M	-8.54M	-15.67M	-9.48M	-41.05M	-46.46M	-9.2M
Cash from Investing+	-749.48M	-861.65M	-1.04B	-754.47M	-988.35M	-1.41B	-1.56B	-2.64B	-200.43M	-948.53M
Purchase of Investments	-89.09M	-198.99M	-149.02M	-156.81M	-294.08M	-335.23M	-751.58M	-744.9M	-1.06B	-1.2B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-12.38M	0	0	0	0	0	0	0	0	0
Other Investing	-707.61M	-719.52M	-966.44M	-692.88M	-828.1M	-1.29B	-1.08B	-2.16B	16.74M	-959.92M
Cash from Financing+	729.83M	1.19B	617.37M	790.48M	772.78M	2.8B	3.31B	-1.04B	1.32B	941.16M
Dividends Paid	-6.16M	-7.91M	-10.1M	-20.26M	-24.12M	-28.29M	-32.58M	-37.53M	-45.77M	-65.47M
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	916K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-400K	1000K	-200K	0	40K	0	0	0	1000K
Other Financing	741.41M	1.2B	617.81M	810.94M	796.89M	2.83B	3.34B	-998.92M	1.36B	268.72M
Net Change in Cash+	54.77M	431.76M	-306.41M	204.31M	-51.3M	1.58B	2.01B	-3.41B	1.32B	245.55M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	297.46M	352.24M	784M	477.59M	681.89M	630.6M	2.21B	4.22B	816.05M	2.13B
Cash at End	352.24M	784M	477.59M	681.89M	630.6M	2.21B	4.22B	816.05M	2.13B	2.38B
Interest Paid	17.27M	23.77M	34.76M	58.54M	101.61M	50.6M	30.5M	83.43M	393.38M	498.98M
Income Taxes Paid	27.11M	30.27M	42.59M	30.55M	42.23M	50.87M	56.65M	68.67M	53.99M	44.98M
Free Cash Flow+	70.73M	76.32M	97.31M	166M	161.92M	188.99M	256.88M	268.98M	193.39M	248.27M
FCF Growth %	0.11%	0.08%	0.28%	0.71%	-0.02%	0.17%	0.36%	0.05%	-0.28%	0.28%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	14.84%	16.76%	16.47%	20.7%	19.16%	18.48%	19.37%	20.53%	15.11%	14.87%
Return on Assets (ROA)	1.38%	1.42%	1.38%	1.81%	1.76%	1.62%	1.52%	1.67%	1.35%	1.36%
Net Interest Margin	3.18%	2.94%	3.21%	3.28%	3.21%	2.83%	2.49%	3.23%	2.55%	2.57%
Efficiency Ratio	35.92%	32.77%	28.85%	25.81%	23.85%	25.68%	27.61%	25.08%	19.69%	18.12%
Equity / Assets	8.81%	8.21%	8.58%	8.93%	9.42%	8.32%	7.46%	8.89%	8.93%	9.32%
Book Value / Share	8.49	9.75	11.23	13.2	15.58	18.31	21.16	23.8	26.41	29.59
NII Growth	24.24%	15.3%	21.55%	15.5%	9.5%	17.52%	13.75%	22.47%	-12.73%	8.69%
Dividend Payout	9.26%	9.64%	10.79%	14.75%	16.12%	16.65%	15.65%	14.9%	22.1%	28.79%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Deposit Account	6.55M	7.03M	7.53M	6.84M	8.03M	8.42M	9.43M
Deposit Account Growth	-	7.36%	7.10%	-9.15%	17.46%	4.82%	12.04%
Credit Card	5.55M	7.08M	5.92M	7.35M	9.92M	8.63M	8.28M
Credit Card Growth	-	27.50%	-16.39%	24.19%	34.98%	-12.97%	-4.07%
Mortgage Banking	2.78M	4.36M	8.75M	7.34M	2.44M	2.75M	4.92M
Mortgage Banking Growth	-	56.65%	100.57%	-16.09%	-66.78%	13.00%	78.66%

Frequently Asked Questions

Valuation & Price

ServisFirst Bancshares, Inc. (SFBS) has a price-to-earnings (P/E) ratio of 18.8x. This is roughly in line with market averages.

Growth & Financials

ServisFirst Bancshares, Inc. (SFBS) grew revenue by 17.9% over the past year. This is strong growth.

Yes, ServisFirst Bancshares, Inc. (SFBS) is profitable, generating $255.4M in net income for fiscal year 2024 (23.3% net margin).

Dividend & Returns

Yes, ServisFirst Bancshares, Inc. (SFBS) pays a dividend with a yield of 1.53%. This makes it attractive for income-focused investors.

ServisFirst Bancshares, Inc. (SFBS) has a return on equity (ROE) of 14.9%. This is reasonable for most industries.

Industry Metrics

ServisFirst Bancshares, Inc. (SFBS) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

ServisFirst Bancshares, Inc. (SFBS) has an efficiency ratio of 18.1%. This is excellent, indicating strong cost control.

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