ServisFirst Bancshares, Inc. (NYSE:SFBS) kicks off Q1 2024 with strong growth in net loans and an active loan pipeline. Henry Abbott, the bank’s Chief Credit Officer, highlighted improved credit quality, while Kirk Pressley, the Chief Financial Officer, announced the highest net interest income since Q1 2023 and a positive outlook for the year.
With plans to enter a new market, ServisFirst has added nine new bankers to its team. Despite an increase in non-performing assets due to a single credit, the bank remains competitive. ServisFirst maintains a solid liquidity position, anticipating deposit growth and improved yields on earning assets. The bank’s customer base is expanding, driven by increased optimism and diminishing recession worries.