The bank achieved a 19.9% year-over-year growth in net interest income as of 2026Q1, supported by a lean 18.8% efficiency ratio that remains a structural competitive advantage.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|
| Net Interest Income | 559.8M | 535.21M | 446.66M | 410.94M | 470.89M | 384.5M | 338.04M | 287.64M | 262.68M | 227.42M | 187.1M | 162.27M | 130.61M | 112.46M | 94.12M | 75.33M | 62.89M | 43.86M | 34.95M | 25.55M |
| NII Growth % | 79.17% | 19.82% | 8.69% | -12.73% | 22.47% | 13.75% | 17.52% | 9.5% | 15.5% | 21.55% | 15.3% | 24.24% | 16.13% | 19.49% | 24.94% | 19.79% | 43.38% | 25.49% | 36.82% | - |
| Net Interest Margin % | 3.08% | 3.02% | 2.57% | 2.55% | 3.23% | 2.49% | 2.83% | 3.21% | 3.28% | 3.21% | 2.94% | 3.18% | 3.19% | 3.19% | 3.24% | 3.06% | 3.25% | 2.79% | 3.01% | 3.06% |
| Interest Income | 990.81M | 990.43M | 946.12M | 813.25M | 559.32M | 416.31M | 389.02M | 390.8M | 326.63M | 262.76M | 212.9M | 179.97M | 144.72M | 126.08M | 109.02M | 91.41M | 78.15M | 62.2M | 55.45M | 51.42M |
| Interest Expense | 431.01M | 455.22M | 499.46M | 402.31M | 88.42M | 31.8M | 50.98M | 103.16M | 63.95M | 35.33M | 25.8M | 17.7M | 14.12M | 13.62M | 14.9M | 16.08M | 15.26M | 18.34M | 20.5M | 25.87M |
| Loan Loss Provision | 39.32M | 35.31M | 21.59M | 18.71M | 37.61M | 31.52M | 42.43M | 22.64M | 21.4M | 23.23M | 13.4M | 12.85M | 10.26M | 13.01M | 9.1M | 8.97M | 10.35M | 10.69M | 6.25M | 3.54M |
| Non-Interest Income | 29.75M | 27.07M | 31M | 15.57M | 21.15M | 21.12M | 24.88M | 19.75M | 15.98M | 12.59M | 10.24M | 6.59M | 6.49M | 7.52M | 6.48M | 4.52M | 4.14M | 4.41M | 23.18M | 27.31M |
| Non-Interest Income % | 2.92% | 2.66% | 3.17% | 1.88% | 3.64% | 4.83% | 6.01% | 4.81% | 4.66% | 4.57% | 4.59% | 3.53% | 4.29% | 5.63% | 5.61% | 4.71% | 5.03% | 6.63% | 29.48% | 34.69% |
| Total Revenue | 1.02B | 1.02B | 977.12M | 828.82M | 580.46M | 437.43M | 413.9M | 410.56M | 342.61M | 275.34M | 223.14M | 186.57M | 151.22M | 133.6M | 115.5M | 95.93M | 82.29M | 66.61M | 78.63M | 78.73M |
| Revenue Growth % | 12.15% | 4.13% | 17.89% | 42.79% | 32.7% | 5.69% | 0.81% | 19.83% | 24.43% | 23.39% | 19.6% | 23.38% | 13.18% | 15.67% | 20.4% | 16.58% | 23.54% | -15.28% | -0.13% | - |
| Non-Interest Expense | 186.23M | 184.84M | 177.09M | 163.2M | 145.6M | 120.76M | 106.27M | 97.9M | 88.41M | 79.44M | 73.12M | 67.01M | 52.86M | 45M | 39.93M | 35.05M | 29.94M | 28.93M | 41.05M | 40.67M |
| Efficiency Ratio | 18.25% | 18.17% | 18.12% | 19.69% | 25.08% | 27.61% | 25.68% | 23.85% | 25.81% | 28.85% | 32.77% | 35.92% | 34.96% | 33.68% | 34.57% | 36.54% | 36.39% | 43.43% | 52.21% | 51.66% |
| Operating Income | 364M | 342.13M | 278.98M | 244.59M | 308.83M | 253.35M | 214.21M | 186.86M | 168.84M | 137.35M | 110.82M | 89M | 73.98M | 61.98M | 51.56M | 35.83M | 27M | 8.66M | 10.8M | 8.65M |
| Operating Margin % | 35.67% | 33.62% | 28.55% | 29.51% | 53.2% | 57.92% | 51.75% | 45.51% | 49.28% | 49.88% | 49.66% | 47.71% | 48.92% | 46.39% | 44.65% | 37.35% | 32.81% | 13% | 13.74% | 10.99% |
| Operating Income Growth % | - | 22.64% | 14.06% | -20.8% | 21.9% | 18.27% | 14.63% | 10.67% | 22.93% | 23.94% | 24.51% | 20.31% | 19.37% | 20.19% | 43.93% | 32.71% | 211.82% | -19.83% | 24.87% | - |
| Pretax Income | 364M | 342.13M | 278.98M | 244.59M | 308.83M | 253.35M | 214.21M | 186.86M | 168.84M | 137.35M | 110.82M | 89M | 73.98M | 61.98M | 51.56M | 35.83M | 26.74M | 8.66M | 10.8M | 8.65M |
| Pretax Margin % | 35.67% | 33.62% | 28.55% | 29.51% | 53.2% | 57.92% | 51.75% | 45.51% | 49.28% | 49.88% | 49.66% | 47.71% | 48.92% | 46.39% | 44.65% | 37.35% | 32.49% | 13% | 13.74% | 10.99% |
| Income Tax | 67.65M | 65.53M | 51.74M | 37.73M | 57.32M | 45.62M | 44.64M | 37.62M | 31.9M | 44.26M | 29.34M | 25.46M | 21.6M | 20.36M | 17.12M | 12.39M | 9.36M | 2.78M | 3.83M | 3.15M |
| Effective Tax Rate % | 18.59% | 19.15% | 18.55% | 15.43% | 18.56% | 18% | 20.84% | 20.13% | 18.89% | 32.22% | 26.47% | 28.61% | 29.2% | 32.85% | 33.2% | 34.58% | 35% | 32.11% | 35.42% | 36.44% |
| Net Income | 296.35M | 276.6M | 227.24M | 206.85M | 251.5M | 207.73M | 169.57M | 149.24M | 136.94M | 93.09M | 81.48M | 63.54M | 52.38M | 41.62M | 34.45M | 23.44M | 17.38M | 5.88M | 7M | 5.5M |
| Net Margin % | 29.04% | 27.18% | 23.26% | 24.96% | 43.33% | 47.49% | 40.97% | 36.35% | 39.97% | 33.81% | 36.51% | 34.06% | 34.64% | 31.15% | 29.82% | 24.43% | 21.12% | 8.82% | 8.9% | 6.98% |
| Net Income Growth % | 23.25% | 21.72% | 9.86% | -17.75% | 21.07% | 22.51% | 13.62% | 8.98% | 47.1% | 14.25% | 28.23% | 21.31% | 25.85% | 20.82% | 46.96% | 34.87% | 195.64% | -16.03% | 27.34% | - |
| Net Income (Continuing) | 296.35M | 276.6M | 227.24M | 206.85M | 251.5M | 207.73M | 169.57M | 149.24M | 136.94M | 93.09M | 81.48M | 63.54M | 52.38M | 41.62M | 34.45M | 23.44M | 17.38M | 5.88M | 7M | 5.5M |
| EPS (Diluted) | 5.42 | 5.06 | 4.16 | 3.79 | 4.61 | 3.82 | 3.13 | 2.76 | 2.53 | 1.72 | 1.52 | 1.20 | 1.05 | 0.84 | 0.69 | 0.47 | 0.35 | 0.12 | 0.22 | 0.19 |
| EPS Growth % | 23.18% | 21.63% | 9.76% | -17.79% | 20.68% | 22.04% | 13.41% | 9.09% | 47.09% | 13.16% | 26.67% | 14.29% | 25% | 21.74% | 46.81% | 34.29% | 191.67% | -45.45% | 15.79% | - |
| EPS (Basic) | - | 5.06 | 4.16 | 3.79 | 4.63 | 3.83 | 3.15 | 2.79 | 2.58 | 1.76 | 1.55 | 1.23 | 1.09 | 1.00 | 0.69 | 0.47 | 0.35 | 0.12 | 0.22 | 0.20 |
| Diluted Shares Outstanding | 54.68M | 54.67M | 54.64M | 54.53M | 54.53M | 54.44M | 54.22M | 54.1M | 54.17M | 54.12M | 53.61M | 52.88M | 49.64M | 49.05M | 49.05M | 49.05M | 49.05M | 49.05M | 34.14M | 28.33M |
Commercial real estate concentration
According to reported financial data, ServisFirst Bancshares achieved a notable 19.9% year-over-year growth in net interest income as of 2026Q1, reflecting the bank's ability to scale its commercial lending portfolio despite a challenging interest rate environment that has pressured funding costs across the regional banking sector.
The consistent upward trajectory in net interest income suggests that the bank's commercial-focused lending model remains effective at capturing yield. Investors should monitor whether this growth can be sustained if deposit betas continue to rise, as the bank's reliance on commercial deposits may lead to increased funding sensitivity.
As evidenced by the 18.8% efficiency ratio reported in 2026Q1, ServisFirst continues to maintain a lean operating profile that significantly outperforms traditional regional peers, demonstrating the efficacy of its branch-light strategy in converting revenue into pre-provision net revenue without the burden of extensive physical retail infrastructure.
The bank's ability to keep its efficiency ratio consistently below 20% appears to be a core competitive advantage that supports its profitability. This structural efficiency provides a buffer against margin compression, though it warrants further investigation into whether future scaling will require additional overhead investments that could erode this margin.
Based on the 2026Q1 financial statements, the provision for loan losses reached $10.6 million, indicating a cautious approach to credit risk management as the bank navigates potential headwinds within its concentrated commercial and industrial and commercial real estate loan portfolios across its expanding geographic footprint.
The increase in provision expense suggests that management is proactively addressing potential asset quality deterioration in a higher-rate environment. Analysts should monitor whether these provisions are sufficient to cover potential losses, particularly given the bank's significant exposure to commercial real estate in the Southeast.
Financial filings reveal that non-interest income remains a variable component of the bank's revenue mix, with 2026Q1 figures showing $10.8 million in fee income, a performance that highlights the inherent volatility of transaction-based revenue compared to the more stable, recurring nature of net interest income.
The fluctuation in fee income, which has ranged from negligible amounts to over $15 million in recent quarters, suggests that the bank's non-interest revenue is highly sensitive to market conditions and specific business activities. This dependency on non-core revenue streams warrants further investigation into the sustainability of these fee-generating relationships.
Quick answers to the most common questions about buying SFBS stock.
ServisFirst Bancshares, Inc. (SFBS) is profitable, generating $276.6M in net income for the fiscal year ending 2025 with a net profit margin of 27.2%.
ServisFirst Bancshares, Inc. (SFBS) reported an operating income of $342.1M, resulting in an operating profit margin of 33.6%. This margin reflects the operational efficiency of the business before interest and taxes.
ServisFirst Bancshares, Inc. (SFBS) generated $527.0M in gross profit for the year, representing a gross profit margin of 51.8%. This demonstrates the company's core pricing power and production efficiency.