ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin
SFBS•ServisFirst Bancshares’ third-quarter diluted EPS rose 33% year over year to $0.80, while net income reached $87.31 million. Loans grew 11%, and the company announced a program to repurchase up to 2 million shares after quarter-end.
1. Profit and loan growth
ServisFirst Bancshares reported third-quarter net income of $87.31 million and diluted EPS of $0.80, up 33% year over year; adjusted EPS rose 23%. Loans grew 11% year over year, supporting revenue and earnings growth, while a wider net interest margin contributed to higher profitability.
2. Repurchase program
After the quarter ended, the company announced a program to repurchase up to 2 million shares. It also completed a two-for-one stock split. The company provided no specific financial guidance for future quarters or the full year.
