Q2 2025 ServisFirst Bancshares Inc Earnings Call Transcript
Key Points
- Servisfirst Bancshares Inc (SFBS) reported solid loan growth with an 11% annualized increase, net of payoffs.
- The company successfully hired seven new producers in the second quarter, enhancing their market footprint.
- Net income grew by more than $9 million or 18% from the second quarter of 2024.
- The restructuring of the bond portfolio is expected to position the company for stronger margin performance in future quarters.
- The tangible book value grew by an annualized 12.5% versus last quarter and nearly 14% from the same quarter a year ago.
- The company experienced a significant charge-off of just over $5 million related to one loan.
- Net income was down slightly by about $1.8 million or 3% compared to the first quarter of 2025.
- There was an $8.6 million loss on the restructuring of the bond portfolio during the quarter.
- Noninterest income was down significantly due to the bond book restructure.
- The company anticipates that the reported 3.50% deposit costs will not sustain in future quarters, expecting it to be similar to the first quarter at about 3.57%.
Greetings, and welcome to the ServisFirst Bancshares' second-quarter earnings conference call and webcast. (Operator Instructions) As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to Davis Mange, Director of Investor Relations. Davis, please go ahead.
Good afternoon, and welcome to our second-quarter earnings call. Today's speakers will cover some highlights from the quarter and then we'll take your questions. We'll have Tom Broughton, our CEO; Jim Harper, our Chief Credit Officer; and David Sparacio, our CFO.
Now, I'll cover our forward-looking statements disclosure. Some of the discussion in today's earnings call may include forward-looking statements. Actual results may differ from any projections shared today due to factors described in our most recent 10-K and 10-Q filings. Forward-looking statements speak only as of the date they are made and ServisFirst assumes no duty to update them.
With that, I'll turn the call over to
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