ServisFirst Bancshares Inc. (SFBS) Financial Statements (2024 and earlier)

Company Profile

Business Address 2500 WOODCREST PLACE
BIRMINGHAM, AL 35209
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,030,513814,5384,163,7242,209,640630,600682,789
Cash and cash equivalents2,030,513814,5384,163,7242,209,640630,600681,895
Short-term investments      894
Total current assets:2,030,513814,5384,163,7242,209,640630,600682,789
Noncurrent Assets
Operating lease, right-of-use asset     
Property, plant and equipment59,32459,85060,30054,96956,49657,822
Intangible assets, net (including goodwill), including:13,61513,61513,63813,90814,17914,449
Goodwill13,615     
Other undisclosed intangible assets, net (including goodwill)  13,61513,63813,90814,17914,449
Deferred income tax assets62,91860,44837,77231,07225,566
Total noncurrent assets:135,857133,913111,71099,94996,24172,271
Other undisclosed assets13,963,29813,647,30211,173,3729,623,0658,220,8127,252,322
TOTAL ASSETS:16,129,66814,595,75315,448,80611,932,6548,947,6538,007,382
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities14,689,26313,297,85714,296,79110,939,8028,104,9717,292,179
Total liabilities:14,689,26313,297,85714,296,79110,939,8028,104,9717,292,179
Equity
Equity, attributable to parent1,439,9051,297,3961,151,515992,352842,180714,701
Common stock545454545453
Additional paid in capital232,605229,693226,397223,856219,766218,521
Accumulated other comprehensive income (loss)(47,595)(42,253)14,05620,2185,749(4,741)
Retained earnings1,254,8411,109,902911,008748,224616,611500,868
Equity, attributable to noncontrolling interest500500500500502502
Total equity:1,440,4051,297,8961,152,015992,852842,682715,203
TOTAL LIABILITIES AND EQUITY:16,129,66814,595,75315,448,80611,932,6548,947,6538,007,382

Income Statement (P&L) ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues
(Net Investment Income)
813,246559,315416,305389,022390,803326,627
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(18,715)(37,607)(31,517)(42,434)(22,638)(21,402)
Gross profit:794,531521,708384,788346,588368,165305,225
Operating expenses(35,261)(32,668)(21,255)(18,853)(15,320)(12,339)
Other operating income, net
(Noninterest Income, Other Operating Income)
3,03712,6614,6641,615  
Operating income:762,307501,701368,197329,350352,845292,886
Nonoperating income
(Bank Owned Life Insurance Income)
7,5746,4786,6426,310  
Interest and debt expense(402,309)(88,423)(31,802)(50,985)(103,158)(63,948)
Other undisclosed loss from continuing operations before equity method investments, income taxes    (70,467)(62,826)(60,096)
Income from continuing operations before equity method investments, income taxes:367,572419,756343,037214,208186,861168,842
Other undisclosed loss from continuing operations before income taxes(122,984)(110,928)(89,688)   
Income from continuing operations before income taxes:244,588308,828253,349214,208186,861168,842
Income tax expense(37,735)(57,324)(45,615)(44,639)(37,618)(31,902)
Income from continuing operations:206,853251,504207,734169,569149,243136,940
Income before gain (loss) on sale of properties:207,734169,569149,243136,940
Net income attributable to parent:206,853251,504207,734169,569149,243136,940
Preferred stock dividends and other adjustments(62)(62)(62)(63)(63)(63)
Net income available to common stockholders, diluted:206,791251,442207,672169,506149,180136,877

Comprehensive Income ($ in thousands)

6/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:206,853251,504207,734169,569149,243136,940
Other comprehensive income (loss)(5,342)(56,309)(6,162)14,46910,490(4,543)
Comprehensive income, net of tax, attributable to parent:201,511195,195201,572184,038159,733132,397

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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