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Dec 31, 2023
ServisFirst Q4 2023 Earnings Report
Net income decreased due to increased non-interest expenses, while deposits grew and credit quality remained strong.
Key Takeaways
ServisFirst Bancshares reported a decrease in net income for Q4 2023 compared to both the previous quarter and the same quarter last year, driven by a significant increase in non-interest expenses. However, deposits grew year-over-year, and credit quality remained strong, with non-performing assets to total assets at 0.14%.
Diluted earnings per share were $0.77, and adjusted diluted earnings per share were $0.91.
Deposits grew 15% year-over-year, and new deposit accounts opened increased 12% year-over-year.
The company entered the Memphis, Tennessee market with the hiring of Joel Smith as President.
Cash dividend increased from $0.28 per share to $0.30 per share, a 7% increase.
Forward Guidance
The company is well-positioned for growth in 2024, with strong liquidity.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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