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Sep 30, 2023
ServisFirst Q3 2023 Earnings Report
ServisFirst Bancshares' earnings decreased compared to the previous year, but total assets and deposits increased, and credit quality remained strong.
Key Takeaways
ServisFirst Bancshares reported a decrease in net income and diluted earnings per share compared to the third quarter of 2022. However, total assets reached $16.0 billion, and total deposits increased to $13.1 billion. Credit quality remained strong, with non-performing assets to total assets at 0.15%.
Total assets reached $16.0 billion, a 9.9% increase year-to-date.
Total deposits were $13.1 billion, a 7% increase from the second quarter of 2023.
Diluted net income per share was $0.98 for the quarter.
Credit quality remained strong with non-performing assets to total assets of 0.15%.
ServisFirst
ServisFirst
ServisFirst Revenue by Segment
Revenue by Segment
Mortgage banking Revenue
CapyFin.com Forward Guidance
Bud Foshee, CFO, mentioned that the company continues to see strong asset quality with record low past dues, while loan pipelines and activity are beginning to rebuild, which should improve profitability in coming quarters.
Positive Outlook
- Strong asset quality
- Record low past dues
- Loan pipelines beginning to rebuild
- Loan activity beginning to rebuild
- Profitability should improve in coming quarters