BIRMINGHAM, Ala., July 20, 2026 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc. (NYSE:SFBS), today announced earnings and operating results for the quarter ended June 30, 2026.

Second Quarter 2026 Highlights:

Diluted earnings per share of $1.57 for the quarter, up 40% from the second quarter of 2025, and up 30% from adjusted diluted earnings per share in the second quarter of 2025*.
Loans grew $533 million, or 15% annualized, during the quarter.
Net interest margin of 3.63%, up 10 basis points from the first quarter of 2026 and up 53 basis points from the second quarter of 2025.
Book value per share of $36.19, up 14.8% year-over-year.
Efficiency ratio under 30%, down from 33% in the second quarter of 2025.
Adjusted return on average common stockholders’ equity* increased from 15.68% to 17.71% year-over-year.
Cost of interest-bearing deposits of 2.80%, down 53 basis points from the second quarter of 2025.
Deposits grew $686 million, or 5%, from the second quarter of 2025.
Liquidity remains strong with $1.46 billion in cash and cash equivalents, equaling 8% of our total assets, and no FHLB advances or brokered deposits.
Consolidated common equity tier 1 capital to risk-weighted assets increased from 11.38% in the second quarter of 2025 to 11.83% in the second quarter of 2026.

Tom Broughton, Chairman, President, and CEO, said, "We were pleased with the strong loan growth in the quarter and the positive momentum in virtually all our markets for growth with our loan pipeline at record levels."

David Sparacio, CFO, said, "Net Income growth of 30% year-over-year, while maintaining an efficiency ratio below 30%, along with continued improvement in our net interest margin resulted in superior performance, as we have historically delivered."

^* This press release includes certain non-GAAP financial measures: adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average common stockholders’ equity, adjusted efficiency ratio, tangible common stockholders' equity, total tangible assets, tangible book value per share, tangible common equity to total tangible assets, adjusted net interest income, adjusted non-interest income, and adjusted non-interest expense. Please see "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures."


FINANCIAL SUMMARY (UNAUDITED)
(in Thousands except share and per share amounts)	Period Ending June 30, 2026			Period Ending March 31, 2026			% Change From Period Ending March 31, 2026 to Period Ending June 30, 2026		Period Ending June 30, 2025			% Change From Period Ending June 30, 2025 to Period Ending June 30, 2026
QUARTERLY OPERATING RESULTS
Net Income	$	85,793		$	82,971		3.4	%	$	61,424		39.7	%
Net Income Available to Common Stockholders	$	85,762		$	82,971		3.4	%	$	61,393		39.7	%
Diluted Earnings Per Share	$	1.57		$	1.52		3.3	%	$	1.12		40.2	%
Return on Average Assets		1.91	%		1.89	%				1.40	%
Return on Average Common Stockholders' Equity		17.71	%		17.91	%				14.56	%
Average Diluted Shares Outstanding		54,702,886			54,695,017					54,664,480

Adjusted Net Income, net of tax*	$	85,793		$	82,971		3.4	%	$	66,133		29.7	%
Adjusted Net Income Available to Common
Stockholders, net of tax*	$	85,762		$	82,971		3.4	%	$	66,102		29.7	%
Adjusted Diluted Earnings Per Share, net of tax*	$	1.57		$	1.52		3.3	%	$	1.21		29.8	%
Adjusted Return on Average Assets, net of tax*		1.91	%		1.89	%				1.50	%
Adjusted Return on Average Common
Stockholders' Equity, net of tax*		17.71	%		17.91	%				15.68	%

YEAR-TO-DATE OPERATING RESULTS
Net Income	$	168,764							$	124,648		35.4	%
Net Income Available to Common Stockholders	$	168,733							$	124,617		35.4	%
Diluted Earnings Per Share	$	3.09							$	2.28		35.1	%
Return on Average Assets		1.90	%							1.42	%
Return on Average Common Stockholders' Equity		17.81	%							15.08	%
Average Diluted Shares Outstanding		54,698,973								54,660,577

Adjusted Net Income, net of tax*	$	168,764							$	129,357		30.5	%
Adjusted Net Income Available to Common
Stockholders, net of tax*	$	168,733							$	129,326		30.5	%
Adjusted Diluted Earnings Per Share, net of tax*	$	3.09							$	2.36		30.6	%
Adjusted Return on Average Assets, net of tax*		1.90	%							1.48	%
Adjusted Return on Average Common
Stockholders' Equity, net of tax*		17.81	%							15.65	%

BALANCE SHEET
Total Assets	$	18,345,498		$	18,171,287		1.0	%	$	17,378,628		5.6	%
Loans		14,478,489			13,945,913		3.8	%		13,232,560		9.4	%
Non-interest-bearing Demand Deposits		2,995,402			2,836,622		5.6	%		2,632,058		13.8	%
Total Deposits		14,548,730			14,486,364		0.4	%		13,862,319		5.0	%
Stockholders' Equity		1,978,418			1,912,537		3.4	%		1,721,783		14.9	%

DETAILED FINANCIALS

ServisFirst Bancshares, Inc. reported net income and net income available to common stockholders of $85.8 million for the quarter ended June 30, 2026, compared to $61.4 million for the second quarter of 2025. Basic and diluted earnings per common share were both $1.57 in the second quarter of 2026, compared to $1.52 in the first quarter of 2026 and $1.12 in the second quarter of 2025. The prior-year quarter adjusted diluted earnings per share was $1.21.

Annualized return on average assets was 1.91% and annualized return on average common stockholders’ equity was 17.71% for the second quarter of 2026, compared to 1.40% and 14.56%, respectively, for the second quarter of 2025.

Net interest income was $155.6 million for the second quarter of 2026, compared to $148.1 million for the first quarter of 2026 and $131.7 million for the second quarter of 2025. The net interest margin in the second quarter of 2026 was 3.63% compared to 3.53% in the first quarter of 2026 and 3.10% in the second quarter of 2025. Loan yields were 6.23% during the second quarter of 2026 compared to 6.18% during the first quarter of 2026 and 6.37% during the second quarter of 2025. During the second quarter of 2026, we recovered $1.9 million in interest income from a large credit relationship that was previously on nonaccrual status. This recovery accounted for five basis points of the increase in loan yields from the first quarter of 2026. Investment yields were 3.81% during the second quarter of 2026 compared to 3.78% during the first quarter of 2026 and 3.37% during the second quarter of 2025. Average interest-bearing deposit rates were 2.80% during the second quarter of 2026, compared to 2.79% during the first quarter of 2026 and 3.33% during the second quarter of 2025. Average federal funds purchased rates were 3.74% during the second quarter of 2026, compared to 3.74% during the first quarter of 2026 and 4.49% during the second quarter of 2025.

Average loans for the second quarter of 2026 were $14.22 billion, an increase of $440.1 million, or 12.8% annualized, from average loans of $13.78 billion for the first quarter of 2026, and an increase of $1.21 billion, or 9.3%, from average loans of $13.01 billion for the second quarter of 2025. Ending total loans for the second quarter of 2026 were $14.48 billion, an increase of $532.6 million, or 15.3% annualized, from $13.95 billion for the first quarter of 2026, and an increase of $1.25 billion, or 9.4%, from $13.23 billion for the second quarter of 2025.

Average total deposits for the second quarter of 2026 were $14.32 billion, an increase of $191.8 million, or 5.4% annualized, from average total deposits of $14.13 billion for the first quarter of 2026, and an increase of $423.0 million, or 3.0%, from average total deposits of $13.90 billion for the second quarter of 2025. Ending total deposits for the second quarter of 2026 were $14.55 billion, an increase of $62.4 million, or 1.7% annualized, from $14.49 billion for the first quarter of 2026, and an increase of $686.4 million, or 5.0%, from $13.86 billion for the second quarter of 2025.

Nonperforming assets to total assets were 0.96% for the second quarter of 2026, compared to 1.00% for the first quarter of 2026 and 0.42% for the second quarter of 2025. The year-over-year increase was attributable to a large real-estate secured relationship. Annualized net charge-offs to average loans were 0.11% for the second quarter of 2026, compared to 0.25% for the first quarter of 2026 and 0.20% for the second quarter of 2025. The allowance for credit losses to total loans at June 30, 2026, March 31, 2026, and June 30, 2025, was 1.26%, 1.25%, and 1.28%, respectively. We recorded an $11.7 million provision for loan losses in the second quarter of 2026 compared to $10.6 million in the first quarter of 2026, and $11.4 million in the second quarter of 2025.

Non-interest income was $12.9 million for the second quarter of 2026 compared to $0.4 million in the second quarter of 2025, an increase of $12.5 million. Adjusted for $8.6 million of securities losses in the second quarter of 2025, this represented a $3.9 million, or 43.5% increase. Service charges on deposit accounts increased $667,000, or 25.0%, to $3.3 million for the second quarter of 2026 from $2.7 million in the second quarter of 2025, and were relatively flat on a linked quarter basis. We increased our service charge rates on many of our treasury management products in July of 2025. Mortgage banking revenue increased $898,000, or 67.9%, to $2.2 million for the second quarter of 2026 from $1.3 million in the second quarter of 2025, and increased $329,000, or 17.4%, on a linked quarter basis. The increase on a year-over-year basis was primarily due to an increase in loans sold into the secondary market. We also increased our per-loan administrative fee in the first quarter of 2026. Credit card income increased $373,000, or 17.6%, to $2.5 million for the second quarter of 2026 from $2.1 million in the second quarter of 2025, and increased $290,000, or 13.2%, on a linked quarter basis. Bank-owned life insurance ("BOLI") income increased $2.0 million, or 94.4%, to $4.1 million for the second quarter of 2026 from $2.1 million in the second quarter of 2025, and increased $1.3 million, or 46.5%, on a linked quarter basis. The increases were primarily due to our purchases of $150.0 million of new contracts in the third quarter of 2025 and $25.0 million of new contracts in the second quarter of 2026. Additionally, we had a $1.0 million adjustment related to a correction of BOLI income in the fourth quarter of 2025. Other operating income decreased $37,000, or 5.0%, to $708,000 for the second quarter of 2026 from $745,000 in the second quarter of 2025, and increased $80,000, or 12.7%, on a linked quarter basis.

Non-interest expense increased $5.8 million, or 13.0%, to $50.0 million for the second quarter of 2026 from $44.2 million in the second quarter of 2025, and increased $2.6 million, or 5.4%, on a linked quarter basis. Salary and benefit expense increased $3.7 million, or 16.4%, to $26.3 million for the second quarter of 2026 from $22.6 million in the second quarter of 2025, and decreased $579,000, or 2.2%, on a linked quarter basis. The year-over-year increase was primarily due to the full impact of our Houston market expansion. The number of full-time equivalent employees (excluding temporary employees) increased by 22, or 3.4%, to 663 at June 30, 2026 compared to 641 at June 30, 2025, and increased by three from the end of the first quarter of 2026. Equipment and occupancy expense increased $440,000, or 12.5%, to $4.0 million for the second quarter of 2026 from $3.5 million in the second quarter of 2025, and increased $15,000, or 0.4%, on a linked quarter basis. Third party processing and other services expense decreased $43,000, or 0.5%, to $8.0 million for the second quarter of 2026 from $8.0 million in the second quarter of 2025, and increased $437,000, or 5.8%, on a linked quarter basis. Professional services expense increased $323,000, or 17.0%, to $2.2 million for the second quarter of 2026 from $1.9 million in the second quarter of 2025, and increased $284,000, or 14.6%, on a linked quarter basis. Other operating expenses increased $1.3 million, or 23.8%, to $6.7 million for the second quarter of 2026 from $5.4 million in the second quarter of 2025, and increased $2.4 million, or 54.2%, on a linked quarter basis. The efficiency ratio was 29.65% during the second quarter of 2026 compared to 33.46% during the second quarter of 2025 and 29.80% during the first quarter of 2026.

Our effective tax rate was 19.94% for the second quarter of 2026 compared to 19.82% for the second quarter of 2025, and 17.82% on a linked quarter basis. During the first quarter of 2026, we purchased Investment Tax Credits, which reduced our tax expense. We recognized a reduction in provision for income taxes resulting from excess tax benefits from the exercise and vesting of stock options and restricted stock during the second quarters of 2026 and 2025 of $36,000 and $234,000, respectively.

About ServisFirst Bancshares, Inc.

ServisFirst Bancshares, Inc. (the "Company") is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank (the "Bank"), the Company provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, Texas and Virginia. Through the Bank, we originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions.

ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission ("SEC"). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at www.servisfirstbancshares.com.

Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"). The words "believe," "expect," "anticipate," "project," "plan," "intend," "will," "could," "would," "might" and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. The Company cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to the Company, are necessarily estimates reflecting the judgment of the Company’s senior management and involve risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including, but not limited to: general economic conditions, especially in the credit markets and in the Southeast; the impact of tariffs, trade wars and other conflicts on general economic conditions; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes as a result of our reclassification as a large financial institution by the Federal Deposit Insurance Corporation ("FDIC"); changes in our loan portfolio and the deposit base; possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, Federal Reserve policies in connection with continued or re-emerging inflationary pressures and the ability of the U.S. Congress to increase the U.S. statutory debt limit as needed; computer hacking or cyber-attacks resulting in unauthorized access to confidential or proprietary information; substantial, unexpected or prolonged changes in the level or cost of liquidity; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and the value of collateral; the effect of natural disasters, such as hurricanes and tornados, in our geographic markets; and increased competition from both banks and nonbank financial institutions. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our most recent Annual Report on Form 10-K, "Forward-Looking Statements" and "Risk Factors" in our subsequent Quarterly Reports on Form 10-Q and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. The Company assumes no obligation to update or revise any forward-looking statements that are made from time to time.

More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at www.servisfirstbancshares.com or by calling (205) 949-0302.


SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(In thousands except share and per share data)
	2nd Quarter 2026			1st Quarter 2026			4th Quarter 2025			3rd Quarter 2025			2nd Quarter 2025
CONSOLIDATED STATEMENT OF INCOME
Interest income	$	249,880		$	241,480		$	251,388		$	251,308		$	246,635
Interest expense		94,243			93,332			104,867			117,860			114,948
Net interest income		155,637			148,148			146,521			133,448			131,687
Provision for credit losses		11,412			10,637			7,922			9,463			11,296
Net interest income after provision for credit losses		144,225			137,511			138,599			123,985			120,391
Non-interest income		12,892			10,840			15,691			2,833			421
Non-interest expense		49,961			47,384			46,683			47,996			44,204
Income before income tax		107,156			100,967			107,607			78,822			76,608
Provision for income tax		21,363			17,996			21,223			13,251			15,184
Net income		85,793			82,971			86,384			65,571			61,424
Preferred stock dividends		31			-			31			-			31
Net income available to common stockholders	$	85,762		$	82,971		$	86,353		$	65,571		$	61,393
Earnings per share - basic	$	1.57		$	1.52		$	1.58		$	1.20		$	1.12
Earnings per share - diluted	$	1.57		$	1.52		$	1.58		$	1.20		$	1.12
Average diluted shares outstanding		54,702,886			54,695,017			54,675,802			54,667,955			54,664,480

CONSOLIDATED BALANCE SHEET DATA
Total assets	$	18,345,498		$	18,171,287		$	17,727,190		$	17,584,199		$	17,378,628
Loans		14,478,489			13,945,913			13,696,912			13,311,967			13,232,560
Debt securities		1,630,531			1,684,421			1,728,901			1,849,739			1,914,503
Non-interest-bearing demand deposits		2,995,402			2,836,622			2,684,272			2,598,895			2,632,058
Total deposits		14,548,730			14,486,364			14,219,034			14,106,922			13,862,319
Borrowings		34,750			34,750			34,750			64,750			64,747
Stockholders' equity		1,978,418			1,912,537			1,850,347			1,781,647			1,721,783

Shares outstanding		54,671,023			54,663,123			54,624,955			54,621,441			54,618,545
Book value per share	$	36.19		$	34.99		$	33.87		$	32.62		$	31.52
Tangible book value per share (1)	$	35.94		$	34.74		$	33.62		$	32.37		$	31.27

SELECTED FINANCIAL RATIOS (Annualized)
Net interest margin		3.63	%		3.53	%		3.38	%		3.09	%		3.10	%
Return on average assets		1.91	%		1.89	%		1.91	%		1.47	%		1.40	%
Return on average common stockholders' equity		17.71	%		17.91	%		18.93	%		14.88	%		14.56	%
Efficiency ratio		29.65	%		29.80	%		28.78	%		35.22	%		33.46	%
Non-interest expense to average earning assets		1.16	%		1.13	%		1.08	%		1.11	%		1.04	%

CAPITAL RATIOS (2)
Common equity tier 1 capital to risk-weighted assets		11.83	%		11.86	%		11.65	%		11.49	%		11.38	%
Tier 1 capital to risk-weighted assets		11.83	%		11.87	%		11.66	%		11.50	%		11.38	%
Total capital to risk-weighted assets		13.09	%		13.13	%		12.93	%		12.91	%		12.81	%
Tier 1 capital to average assets		10.93	%		10.71	%		10.26	%		10.01	%		9.78	%
Tangible common equity to total tangible assets (1)		10.72	%		10.46	%		10.37	%		10.06	%		9.84	%

(1) This press release contains certain non-GAAP financial measures. Please see "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures."
(2) Regulatory capital ratios for most recent period are preliminary.

GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures

This press release contains the non-GAAP financial measures of tangible common stockholders’ equity, total tangible assets, tangible book value per share and tangible common equity to total tangible assets, each of which excludes goodwill associated with our acquisition of Metro Bancshares, Inc. in January 2015. This press release also contains the non-GAAP financial measures of adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average common stockholders’ equity, adjusted efficiency ratio, adjusted net interest income, adjusted non-interest income, and adjusted non-interest expense.

We believe these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, we acknowledge that these non-GAAP financial measures have limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies, including those in our industry, use. The following reconciliation table provides a more detailed analysis of the non-GAAP financial measures as of and for the comparative periods presented in this press release. Dollars are in thousands, except share and per share data.


	At June 30, 2026				At March 31, 2026				At December 31, 2025					At September 30, 2025				At June 30, 2025
Book value per share - GAAP	$	36.19			$	34.99			$	33.87			$	32.62			$	31.52
Total common stockholders' equity - GAAP		1,978,418				1,912,537				1,850,347				1,781,647				1,721,783
Adjustment for Goodwill		(13,615	)			(13,615	)			(13,615	)			(13,615	)			(13,615	)
Tangible common stockholders' equity - non-GAAP	$	1,964,803			$	1,898,922			$	1,836,732			$	1,768,032			$	1,708,168
Tangible book value per share - non-GAAP	$	35.94			$	34.74			$	33.62			$	32.37			$	31.27

Stockholders' equity to total assets - GAAP		10.78		%		10.53		%		10.44		%		10.13		%		9.91		%
Total assets - GAAP	$	18,345,498			$	18,171,287			$	17,727,190			$	17,584,199			$	17,378,628
Adjustment for Goodwill		(13,615	)			(13,615	)			(13,615	)			(13,615	)			(13,615	)
Total tangible assets - non-GAAP	$	18,331,883			$	18,157,672			$	17,713,575			$	17,570,584			$	17,365,013
Tangible common equity to total tangible assets - non-GAAP		10.72		%		10.46		%		10.37		%		10.06		%		9.84		%


	Three Months Ended June 30, 2026			Three Months Ended June 30, 2025				Six Months Ended June 30, 2026			Six Months Ended June 30, 2025

Net income - GAAP	$	85,793		$	61,424			$	168,764		$	124,648
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Loss on marketable securities		-			8,563				-			8,563
Tax on adjustments		-			(1,578	)			-			(1,578	)
Adjusted net income - non-GAAP	$	85,793		$	66,133			$	168,764		$	129,357

Net income available to common stockholders - GAAP	$	85,762		$	61,393			$	168,733		$	124,617
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Loss on marketable securities		-			8,563				-			8,563
Tax on adjustments		-			(1,578	)			-			(1,578	)
Adjusted net income available to common stockholders - non-GAAP	$	85,762		$	66,102			$	168,733		$	129,326

Diluted earnings per share - GAAP	$	1.57		$	1.12			$	3.09		$	2.28
Adjustments:
Legal matter accrual reversal		-			(0.04	)			-			(0.05	)
Loss on marketable securities		-			0.16				-			0.16
Tax on adjustments		-			(0.03	)			-			(0.03	)
Adjusted diluted earnings per share - non-GAAP	$	1.57		$	1.21			$	3.09		$	2.36

Net interest income, on a fully taxable-equivalent basis	$	155,637		$	131,777			$	303,785		$	255,394
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Tax on adjustments		-			571				-			571
Adjusted net interest income, on a fully taxable-equivalent basis	$	155,637		$	130,072			$	303,785		$	253,689

Return on average assets - GAAP		1.91	%		1.40		%		1.90	%		1.42		%
Net income available to common stockholders - GAAP	$	85,762		$	61,393			$	168,733		$	124,617
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Loss on marketable securities		-			8,563				-			8,563
Tax on adjustments		-			(1,578	)			-			(1,578	)
Adjusted net income available to common stockholders - non-GAAP	$	85,762		$	66,102			$	168,733		$	129,326
Average assets - GAAP	$	18,013,805		$	17,626,503			$	17,746,068		$	17,668,094
Adjusted return on average assets - non-GAAP		1.91	%		1.50		%		1.90	%		1.48		%

Return on average common stockholders' equity - GAAP		17.71	%		14.56		%		17.81	%		15.08		%
Net income available to common stockholders - GAAP	$	85,762		$	61,393			$	168,733		$	124,617
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Loss on marketable securities		-			8,563				-			8,563
Tax on adjustments		-			(1,578	)			-			(1,578	)
Adjusted net income available to common stockholders - non-GAAP	$	85,762		$	66,102			$	168,733		$	129,326
Average common stockholders' equity - GAAP	$	1,942,571		$	1,690,855			$	1,910,751		$	1,666,039
Adjusted return on average common stockholders' equity non-GAAP		17.71	%		15.68		%		17.81	%		15.65		%

Efficiency ratio		29.65	%		33.46		%		29.72	%		34.22		%
Net interest income - GAAP	$	155,637		$	131,687			$	303,785		$	255,240
Adjustments:
Legal matter accrual reversal		-			(2,276	)			-			(2,276	)
Adjusted net interest income - non-GAAP	$	155,637		$	129,411			$	303,785		$	252,964
Total non-interest income - GAAP		12,892			421				23,732			8,698
Adjustments:
Loss on marketable securities		-			8,563				-			8,563
Adjusted non-interest income - non-GAAP	$	12,892		$	8,984			$	23,732		$	17,261
Adjusted net interest income and non-interest income - non-GAAP		168,529			138,395				327,517			270,225
Non-interest expense - GAAP	$	49,961		$	44,204			$	97,345		$	90,311
Adjustments:
Adjusted non-interest expense - non-GAAP	$	49,961		$	44,204			$	97,345		$	90,311
Adjusted efficiency ratio - non-GAAP		29.65	%		31.94		%		29.72	%		33.42		%


CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in thousands)
	June 30, 2026			June 30, 2025			% Change
ASSETS
Cash and due from banks	$	115,442		$	140,659		(18	)	%
Interest-bearing balances due from depository institutions		1,089,592			1,236,485		(12	)	%
Federal funds sold and securities purchased with agreement to resell		251,439			333,760		(25	)	%
Cash and cash equivalents		1,456,473			1,710,904		(15	)	%
Available for sale debt securities, at fair value		995,051			1,227,851		(19	)	%
Held to maturity debt securities (fair value of $590,280 and $639,455, respectively)		635,480			686,652		(7	)	%
Restricted equity securities		12,475			12,156		3		%
Mortgage loans held for sale		14,886			22,131		(33	)	%
Loans		14,478,489			13,232,560		9		%
Less allowance for credit losses		(181,853	)		(169,959	)	7		%
Loans, net		14,296,636			13,062,601		9		%
Premises and equipment, net		63,648			59,993		6		%
Goodwill		13,615			13,615		-		%
Other assets		857,234			582,725		47		%
Total assets	$	18,345,498		$	17,378,628		6		%
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest-bearing demand	$	2,995,402		$	2,632,058		14		%
Interest-bearing		11,553,328			11,230,261		3		%
Total deposits		14,548,730			13,862,319		5		%
Federal funds purchased		1,579,388			1,599,135		(1	)	%
Other borrowings		34,750			64,747		(46	)	%
Other liabilities		204,212			130,644		56		%
Total liabilities		16,367,080			15,656,845		5		%
Stockholders' equity:
Preferred stock, par value $0.001 per share; 1,000,000 authorized and undesignated at
June 30, 2026 and June 30, 2025		-			-		-		%
Common stock, par value $0.001 per share; 200,000,000 shares authorized; 54,671,023 shares
issued and outstanding at June 30, 2026, and 54,618,545
shares issued and outstanding at June 30, 2025		55			54		2		%
Additional paid-in capital		239,317			236,716		1		%
Retained earnings		1,741,070			1,500,767		16		%
Accumulated other comprehensive loss		(2,524	)		(16,254	)	(84	)	%
Total stockholders' equity attributable to ServisFirst Bancshares, Inc.		1,977,918			1,721,283		15		%
Noncontrolling interest		500			500		-		%
Total stockholders' equity		1,978,418			1,721,783		15		%
Total liabilities and stockholders' equity	$	18,345,498		$	17,378,628		6		%


CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)
	Three Months Ended June 30,					Six Months Ended June 30,
	2026		2025			2026		2025
Interest income:
Interest and fees on loans	$	220,731	$	206,521		$	430,797	$	403,457
Investment securities		15,827		16,567			31,926		32,596
Federal funds sold and securities purchased with agreement to resell		4,146		1,592			9,707		1,612
Other interest and dividends		9,176		21,955			18,930		50,066
Total interest income		249,880		246,635			491,360		487,731
Interest expense:
Deposits		79,440		93,488			157,725		188,233
Borrowed funds		14,803		21,460			29,850		44,258
Total interest expense		94,243		114,948			187,575		232,491
Net interest income		155,637		131,687			303,785		255,240
Provision for credit losses		11,412		11,296			22,049		17,926
Net interest income after provision for credit losses		144,225		120,391			281,736		237,314
Non-interest income:
Service charges on deposit accounts		3,338		2,671			6,634		5,229
Mortgage banking		2,221		1,323			4,113		1,936
Credit card income		2,492		2,119			4,694		4,087
Securities losses		-		(8,563	)		-		(8,563	)
Bank-owned life insurance income		4,133		2,126			6,955		4,263
Other operating income		708		745			1,336		1,746
Total non-interest income		12,892		421			23,732		8,698
Non-interest expenses:
Salaries and employee benefits		26,274		22,576			53,127		45,455
Equipment and occupancy expense		3,963		3,523			7,911		7,245
Third party processing and other services		7,962		8,005			15,487		15,743
Professional services		2,227		1,904			4,170		3,837
FDIC and other regulatory assessments		2,753		2,753			4,260		5,607
Other real estate owned expense		75		27			95		60
Other operating expenses		6,707		5,416			12,295		12,364
Total non-interest expenses		49,961		44,204			97,345		90,311
Income before income taxes		107,156		76,608			208,123		155,701
Provision for income taxes		21,363		15,184			39,359		31,053
Net income		85,793		61,424			168,764		124,648
Dividends on preferred stock		31		31			31		31
Net income available to common stockholders	$	85,762	$	61,393		$	168,733	$	124,617
Basic earnings per common share	$	1.57	$	1.12		$	3.09	$	2.28
Diluted earnings per common share	$	1.57	$	1.12		$	3.09	$	2.28


LOANS BY TYPE (UNAUDITED)
(In thousands)

	2nd Quarter 2026		1st Quarter 2026		4th Quarter 2025		3rd Quarter 2025		2nd Quarter 2025
Commercial, financial and agricultural	$	3,252,437	$	3,189,704	$	3,146,736	$	2,945,784	$	2,966,191
Real estate - construction		1,564,504		1,531,042		1,457,628		1,532,285		1,735,405
Real estate - mortgage:
Owner-occupied commercial		2,781,375		2,718,512		2,739,823		2,680,055		2,557,711
1-4 family mortgage		1,685,723		1,695,140		1,671,713		1,625,296		1,561,461
Non-owner occupied commercial		5,123,635		4,739,642		4,603,389		4,448,710		4,338,697
Subtotal: Real estate - mortgage		9,590,733		9,153,294		9,014,925		8,754,061		8,457,869
Consumer		70,815		71,873		77,623		79,837		73,095
Total loans	$	14,478,489	$	13,945,913	$	13,696,912	$	13,311,967	$	13,232,560


SUMMARY OF CREDIT LOSS EXPERIENCE (UNAUDITED)
(Dollars in thousands)
	2nd Quarter 2026			1st Quarter 2026			4th Quarter 2025			3rd Quarter 2025			2nd Quarter 2025
Allowance for credit losses:
Beginning balance	$	173,905		$	171,683		$	170,235		$	169,959		$	165,034
Loans charged off:
Commercial, financial and agricultural		4,074			8,291			7,695			7,947			6,849
Real estate - construction		711			-			-			-			-
Real estate - mortgage		5			91			64			1,294			580
Consumer		79			171			465			109			73
Total charge offs		4,869			8,553			8,224			9,350			7,502
Recoveries:
Commercial, financial and agricultural		667			178			1,532			237			959
Real estate - construction		-			-			-			30			-
Real estate - mortgage		396			-			-			-			1
Consumer		59			35			10			21			58
Total recoveries		1,122			213			1,542			288			1,018
Net charge-offs		3,747			8,340			6,682			9,062			6,484
Provision for loan losses		11,695			10,562			8,130			9,338			11,409
Ending balance	$	181,853		$	173,905		$	171,683		$	170,235		$	169,959

Allowance for credit losses to total loans		1.26	%		1.25	%		1.25	%		1.28	%		1.28	%

Allowance for credit losses to total average loans		1.28	%		1.26	%		1.27	%		1.29	%		1.31	%
Net charge-offs to total average loans		0.11	%		0.25	%		0.20	%		0.27	%		0.20	%

Provision for credit losses to total average loans		0.33	%		0.31	%		0.24	%		0.28	%		0.35	%
Nonperforming assets:
Nonaccrual loans	$	169,711		$	176,613		$	168,351		$	166,662		$	68,619
Loans 90+ days past due and accruing		1,242			1,274			478			965			3,549
Other real estate owned and
repossessed assets		4,834			3,072			2,583			611			311
Total	$	175,787		$	180,959		$	171,412		$	168,238		$	72,479

Nonperforming loans to total loans		1.18	%		1.28	%		1.23	%		1.26	%		0.55	%
Nonperforming assets to total assets		0.96	%		1.00	%		0.97	%		0.96	%		0.42	%
Nonperforming assets to earning assets		0.99	%		1.05	%		1.01	%		1.00	%		0.43	%
Allowance for credit losses to nonaccrual loans		107.15	%		98.47	%		101.98	%		102.14	%		247.69	%


CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)
	2nd Quarter 2026		1st Quarter 2026		4th Quarter 2025		3rd Quarter 2025			2nd Quarter 2025
Interest income:
Interest and fees on loans	$	220,731	$	210,066	$	214,252	$	210,987		$	206,521
Investment securities		15,827		16,099		17,204		17,343			16,567
Federal funds sold and securities purchased with agreement to resell		4,146		5,561		5,671		4,724			1,592
Other interest and dividends		9,176		9,754		14,261		18,254			21,955
Total interest income		249,880		241,480		251,388		251,308			246,635
Interest expense:
Deposits		79,440		78,285		86,920		98,735			93,488
Borrowed funds		14,803		15,047		17,947		19,125			21,460
Total interest expense		94,243		93,332		104,867		117,860			114,948
Net interest income		155,637		148,148		146,521		133,448			131,687
Provision for credit losses		11,412		10,637		7,922		9,463			11,296
Net interest income after provision for credit losses		144,225		137,511		138,599		123,985			120,391
Non-interest income:
Service charges on deposit accounts		3,338		3,296		3,339		3,316			2,671
Mortgage banking		2,221		1,892		1,664		1,864			1,323
Credit card income		2,492		2,202		1,835		2,405			2,119
Securities losses		-		-		-		(7,812	)		(8,563	)
Bank-owned life insurance income		4,133		2,822		8,149		2,405			2,126
Other operating income		708		628		704		655			745
Total non-interest income		12,892		10,840		15,691		2,833			421
Non-interest expenses:
Salaries and employee benefits		26,274		26,853		23,838		25,522			22,576
Equipment and occupancy expense		3,963		3,948		3,737		3,615			3,523
Third party processing and other services		7,962		7,525		7,779		8,095			8,005
Professional services		2,227		1,943		1,481		1,857			1,904
FDIC and other regulatory assessments		2,753		2,745		2,641		2,742			2,753
Other real estate owned expense		75		20		13		82			27
Other operating expenses		6,707		4,350		7,194		6,083			5,416
Total non-interest expenses		49,961		47,384		46,683		47,996			44,204
Income before income taxes		107,156		100,967		107,607		78,822			76,608
Provision for income taxes		21,363		17,996		21,223		13,251			15,184
Net income		85,793		82,971		86,384		65,571			61,424
Dividends on preferred stock		31		-		31		-			31
Net income available to common stockholders	$	85,762	$	82,971	$	86,353	$	65,571		$	61,393
Basic earnings per common share	$	1.57	$	1.52	$	1.58	$	1.20		$	1.12
Diluted earnings per common share	$	1.57	$	1.52	$	1.58	$	1.20		$	1.12


AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)
ON A FULLY TAXABLE-EQUIVALENT BASIS
(Dollars in thousands)

	2nd Quarter 2026					1st Quarter 2026					4th Quarter 2025					3rd Quarter 2025					2nd Quarter 2025
	Average Balance			Yield / Rate		Average Balance			Yield / Rate		Average Balance			Yield / Rate		Average Balance			Yield / Rate		Average Balance			Yield / Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (1)
Taxable	$	14,198,439		6.18	%	$	13,751,447		6.18	%	$	13,474,271		6.30	%	$	13,175,297		6.34	%	$	12,979,759		6.37	%
Tax-exempt (2)		26,082		37.03			32,976		5.82			30,670		5.52			30,478		5.47			30,346		5.51
Total loans, net of unearned
income		14,224,521		6.23			13,784,423		6.18			13,504,941		6.29			13,205,775		6.34			13,010,105		6.37
Mortgage loans held for sale		13,327		5.30			10,680		4.40			9,887		4.49			11,351		4.82			11,739		5.23
Debt securities:
Taxable		1,659,147		3.81			1,702,499		3.78			1,826,632		3.77			1,926,101		3.60			1,965,089		3.37
Tax-exempt (2)		444		5.41			444		5.41			444		5.41			444		5.41			492		4.88
Total securities (3)		1,659,591		3.81			1,702,943		3.78			1,827,076		3.77			1,926,545		3.60			1,965,581		3.37
Federal funds sold and securities
purchased with agreement to resell		372,645		4.46			501,377		4.50			469,148		4.79			365,733		5.12			124,303		5.14
Restricted equity securities		12,456		6.41			12,228		6.17			12,193		6.61			12,167		6.36			12,146		6.64
Interest-bearing balances with banks		964,808		3.73			1,041,026		3.73			1,393,155		4.00			1,608,118		4.45			1,952,479		4.47
Total interest-earning assets	$	17,247,348		5.82	%	$	17,052,677		5.75	%	$	17,216,400		5.79	%	$	17,129,689		5.82	%	$	17,076,353		5.80	%
Non-interest-earning assets:
Cash and due from banks		96,648					103,847					102,066					103,470					109,506
Net premises and equipment		63,303					61,253					61,009					60,614					59,944
Allowance for credit losses, accrued
interest and other assets		606,506					552,337					556,704					415,586					380,700
Total assets	$	18,013,805				$	17,770,114				$	17,936,179				$	17,709,359				$	17,626,503

Interest-bearing liabilities:
Interest-bearing deposits:
Checking	$	2,050,758		1.69	%	$	2,101,953		1.60	%	$	2,126,615		1.77	%	$	2,069,440		2.16	%	$	2,222,000		1.78	%
Savings		112,077		1.41			110,843		1.42			106,551		1.52			103,668		1.66			101,506		1.63
Money market		7,956,884		3.03			7,812,168		3.01			7,816,487		3.23			7,965,115		3.67			7,616,747		3.67
Time deposits		1,274,496		3.26			1,373,023		3.42			1,392,749		3.80			1,344,257		3.97			1,321,404		4.09
Total interest-bearing deposits		11,394,215		2.80			11,397,987		2.79			11,442,402		3.01			11,482,480		3.41			11,261,657		3.33
Federal funds purchased		1,549,520		3.74			1,593,215		3.74			1,712,399		4.01			1,640,377		4.46			1,855,860		4.49
Other borrowings		34,750		4.02			34,750		4.05			59,207		4.21			64,761		4.21			64,750		4.26
Total interest-bearing liabilities	$	12,978,485		2.91	%	$	13,025,952		2.91	%	$	13,214,008		3.15	%	$	13,187,618		3.55	%	$	13,182,267		3.50	%
Non-interest-bearing liabilities:
Non-interest-bearing
checking		2,923,956					2,728,354					2,768,495					2,651,043					2,633,552
Other liabilities		168,793					137,231					143,680					122,873					119,829
Stockholders' equity		1,944,735					1,879,072					1,813,097					1,762,980					1,716,232
Accumulated other comprehensive
loss		(2,164	)				(495	)				(3,101	)				(15,155	)				(25,377	)
Total liabilities and
stockholders' equity	$	18,013,805				$	17,770,114				$	17,936,179				$	17,709,359				$	17,626,503
Net interest spread				2.91	%				2.84	%				2.64	%				2.27	%				2.30	%
Net interest margin				3.63	%				3.53	%				3.38	%				3.09	%				3.10	%

(1) Average loans include nonaccrual loans in all periods. Loan fees of $4,763, $5,186, $5,464, $6,103, and $4,430 are included in interest income in the second quarter of 2026, first quarter of 2026, fourth quarter of 2025, third quarter of 2025, and second quarter of 2025, respectively.
(2) Interest income and yields are presented on a fully taxable equivalent basis using a tax rate of 21%.
(3) Unrealized losses on debt securities of $(4,830), $(2,713), $(6,311), $(22,574), and $(36,381) for the second quarter of 2026, first quarter of 2026, fourth quarter of 2025, third quarter of 2025, and second quarter of 2025, respectively, are excluded from the yield calculation.

Contact: ServisFirst Bank
Davis Mange (205) 949-3420
dmange@servisfirstbank.com