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Earnings Call Summary | Servisfirst Bancshares(SFBS.US) Q1 2024 Earnings Conference

Futu News ·  Apr 23 07:25  · Conference Call

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

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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