The following is a summary of the ServisFirst Bancshares, Inc. (SFBS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• ServisFirst Bancshares reported a successful Q1 2024 start with over $200 million in net loans.

• Growth was observed in the owner-occupied real estate segment.

• The net interest income was the highest since Q1 2023.

• Net interest margin stands at 2.66%, an uptick of 9 basis points.

• The Tier 1 capital to average assets ratio increased, suggesting a stronger financial base.

Business Progress:

• The company saw a 63% increase in the loan pipeline since the year-end.

• There was a significant addition of nine new bankers in Q1, majorly in the Memphis market.

• The credit quality remained strong with declining charge-offs in the quarter.

• The allowance for credit losses compared to non-accruals was significantly higher than the peer group at quarter-end.

• The company noted credit card income improvement with increased spending.

• The company expects to continually enhance deposit and loan growth in 2024.

More details: Servisfirst Bancshares IR

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