ServisFirst Bancshares (SFBS, Financial), a full-service commercial bank, continued to increase its deposits and loansduring the quarter. In spite of growing assets from $10 billion to $15 billion over the last 18 months, we believe the company is poised for more growth – it has a record-high loan pipeline and continues to hold $4.5 billion in cash at the Federal Reserve as of 12/31/2021.4 As one of the largest holdings in the portfolio, we remain confident in the company’s long-term prospects.
From Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund fourth-quarter 2021 commentary.
