BIRMINGHAM, Ala. – ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), is pleased to announce they have ranked fourth in the top publicly traded banks with between $10 billion to $50 billion in assets, based on year-end 2023 data. ServisFirst Bancshares is the only bank in Alabama that made it into the top ten, and this is the third year in a row that the bank has achieved a top-five ranking.
The annual list is compiled by consulting firm Capital Performance Group, which uses each institution’s three-year average return on average equity, or ROAE, to determine the ranking. These rankings are published annually by American Banker.
"The top performers remained more liquid in 2023, which helped their profitability in a rising rate environment," stated Ally Akins and Claude Hanley, analysts at Capital Performance Group.
The $16 billion-asset institution, ServisFirst Bancshares, had a 3-year average return on average equity (ROAE) of 18.38%, a return on average assets (ROAA) of 1.37%, a net interest margin (NIM) of 2.81%, nonperforming assets/total assets of 0.13%, and core deposits/total deposits of 91.30%.
Net loan growth of top performers and the segment overall exceeded 5% last year, but the strongest banks grew core deposits in 2023 by more than 2%, while the group overall saw a decline. This helped the highest-ranked banks to minimize deposit cost increases because of high rates, supporting net interest margins and bottom lines. The NIM on average for the top 10 banks were 15 basis points higher than overall. Profits in 2023 were more than 40% higher for the top banks compared to their overall peer group.
For more information regarding ServisFirst Bank’s recent ranking, please contact Krista Conlin at Krista@KCProjects.net. For more about ServisFirst Bank, please visit www.servisfirstbank.com
