Profile: ServisFirst Bancshares Inc (SFBS.O)
ServisFirst Bancshares, Inc., incorporated on August 16, 2007, is a bank holding company whose business is conducted by its subsidiary, ServisFirst Bank (the Bank). The Company's principal business is to accept deposits from the public and to make loans and other investments. The Company, through its bank, originates commercial, consumer and other loans; accept deposits; provides electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services, and provides correspondent banking services to other financial institutions. The Company offers a range of products and services, including round the clock telephone banking, direct deposit, Internet banking, mobile banking, traveler's checks, safe deposit boxes, attorney trust accounts and automatic account transfers. It also participates in a shared network of automated teller machines and a debit card system. Additionally, it offers Visa credit cards.
As of December 31, 2016, the Company, through its the Bank, operated 19 full-service banking offices located in Jefferson, Shelby, Madison, Montgomery, Houston and Mobile Counties of Alabama, Escambia and Hillsborough Counties of Florida, Cobb and Douglas Counties of Georgia, Charleston County, South Carolina and Davidson County, Tennessee in the metropolitan statistical areas (MSAs) of Birmingham-Hoover, Huntsville, Montgomery, Dothan and Mobile, Alabama, Pensacola-Ferry Pass-Brent and Tampa-St. Petersburg-Clearwater, Florida, Atlanta-Sandy Springs-Roswell, Georgia, Charleston-North Charleston, South Carolina and Nashville-Davidson-Murfreesboro-Franklin, Tennessee. The Bank owns all of the stock of SF Intermediate Holding Company, Inc., which, in turn, owns all of the stock of SF Holding 1, Inc., which, in turn, owns all of the common stock of the Company's real estate investment trusts, SF Realty 1, Inc., SF FLA Realty, Inc., SF GA Realty, Inc. and SF TN Realty, Inc.
The Bank's loan portfolio consists of commercial, financial and agricultural loans; real estate-construction loans; real estate-mortgage loans (owner-occupied commercial, one- to four-family mortgage and other mortgage) and consumer loans. The Company's commercial lending activity is directed principally toward businesses and professional service firms. The Company makes loans to small- and medium-sized businesses in its primary service areas for the purpose of upgrading plant and equipment, buying inventory and for general working capital. This category of loans includes loans made to individual, partnership and corporate borrowers, and such loans are obtained for a range of business purposes. It offers a range of commercial lending products for business and professional service firms in its service areas. These commercial lending products include seasonal loans, bridge loans and term loans for working capital, expansion of the business, or acquisition of property, plant and equipment. It also offers commercial lines of credit.
The Company makes commercial real estate loans, construction and development loans and residential real estate loans. It makes construction and development loans both on a pre-sold and speculative basis. Its residential real estate loans consist primarily of residential second mortgage loans, residential construction loans and traditional mortgage lending for one- to four-family residences. The Company offers a range of loans to retail customers in the communities it serves. Its consumer loans include home equity loans (open- and closed-end), vehicle financing, loans secured by deposits, and secured and unsecured personal loans. As of December 31, 2016, the Company had total loans of approximately $4.9 billion.
The Company purchases investments in securities, primarily in mortgage-backed securities and state and municipal securities. The Company's investment securities portfolio consists securities available for sale and securities held to maturity. It includes the United Sates Treasury and Government agencies, mortgage-backed securities, state and municipal securities and corporate debt. As of December 31, 2016, the Company's total securities available for sale amounted to $423.33 million and total securities held to maturity amounted to $62.56 million. The amortized cost of securities in its portfolio totaled $485.9 million as of December 31, 2016.
Sources of Funds
The Company's principal sources of funds for loans and investments are demand, time, savings and other deposits and the amortization and prepayment of loans and borrowings. The Company seeks to establish core deposits, including checking accounts, money market accounts, savings accounts and a range of certificates of deposit and individual retirement account (IRA) accounts. It makes deposit services accessible to customers by offering direct deposit, wire transfer, night depository, banking-by-mail and remote capture for non-cash items. As of December 31, 2016, the Company had total deposits of approximately $5.4 billion.
The Company competes with Regions Bank, Wells Fargo Bank, BBVA Compass, BB&T, and Synovus Bank.
ServisFirst Bancshares Inc
2500 Woodcrest Pl
BIRMINGHAM AL 35209-1374