ServisFirst Q2 2020 Earnings Report

ServisFirst Bancshares, Inc. reported net income of $40.4 million and EPS of $0.75 for the second quarter of 2020.

Key Takeaways

ServisFirst Bancshares, Inc. reported a strong second quarter of 2020, with net income reaching $40.4 million and basic and diluted earnings per common share at $0.75. The bank saw growth in net interest income and managed to increase average loans and total deposits.

Net income for the quarter ended June 30, 2020, was $40.4 million, compared to $35.6 million for the same quarter in 2019.

Basic and diluted earnings per common share were $0.75 for Q2 2020, up from $0.67 and $0.66 respectively in Q2 2019.

Net interest income increased to $83.2 million for Q2 2020, compared to $70.1 million for Q2 2019.

Average loans for Q2 2020 were $8.33 billion, a 23% increase over Q2 2019, driven by PPP loan origination.

Total Revenue

$90.3M

Previous year: $75.9M