ServisFirst Bancshares, Inc. Announces Results for Third Quarter of 2026

BIRMINGHAM, Ala., Oct. 19, 2026 (GLOBE NEWSWIRE) -- ServisFirst Bancshares, Inc. (NYSE: SFBS) today announced earnings and operating results for the quarter ended September 30, 2026.

Third Quarter 2026 Highlights and Financial Summary:

• Diluted earnings per share of $0.80 for the quarter, up 33% from the third quarter of 2025, and up 23% from adjusted diluted earnings per share in the third quarter of 2025*.
• Loans grew by $1.43 billion, or 11%, year-over-year.
• Net interest margin of 3.63%, unchanged from the second quarter of 2026; excluding a loan recovery in the previous quarter, NIM was 5 basis points higher, and up 54 basis points compared to the third quarter of 2025.
• Noninterest-bearing deposits increased 12% year-over-year.
• Completed our two-for-one stock split during the quarter**.
• Subsequent to quarter-end, the Company announced its inaugural stock repurchase program, authorizing the repurchase of up to two million shares of common stock through December 31, 2027.
• Book value per share of $18.63, up 14% year-over-year.
• Efficiency ratio of 30.20%, improved from 35.22% in the third quarter of 2025.
• Year-to-date return on average common stockholders’ equity increased from 15.01% in 2025 to 17.62% in 2026, and year-to-date adjusted return on average common stockholders’ equity* increased from 15.85% to 17.61%.
• Consolidated common equity tier 1 capital to risk-weighted assets increased from 11.49% in the third quarter of 2025 to 11.98% in the third quarter of 2026.

Tom Broughton, Chairman, President, and CEO, said, “We see solid economic trends, and loan activity is improving with continued growth in our loan pipeline.”

David Sparacio, CFO, said, “We continue to grow our top line revenue through asset and margin growth, while maintaining a best-in-class efficiency ratio, resulting in top quartile returns.”

FINANCIAL SUMMARY (UNAUDITED) (in Thousands except per share data)		Period Ended September 30, 2026				Period Ended June 30, 2026				% Change From Period Ended June 30, 2026 to Period Ended September 30, 2026				Period Ended September 30, 2025				% Change From Period Ended September 30, 2025 to Period Ended September 30, 2026
QUARTERLY OPERATING RESULTS
Net Income		$	87,308			$	85,793			1.8		%		$	65,571			33.2		%
Net Income Available to Common Stockholders		$	87,308			$	85,762			1.8		%		$	65,571			33.2		%
Diluted Earnings Per Share		$	0.80			$	0.78			2.6		%		$	0.60			33.3		%
Return on Average Assets			1.89	%			1.91	%							1.47	%
Return on Average Common Stockholders' Equity			17.26	%			17.71	%							14.88	%
Average Diluted Shares Outstanding			109,390				109,406								109,336
Adjusted Net Income, net of tax*		$	87,197			$	85,793			1.6		%		$	71,422			22.1		%
Adjusted Net Income Available to Common
Stockholders, net of tax*		$	87,197			$	85,762			1.7		%		$	71,422			22.1		%
Adjusted Diluted Earnings Per Share, net of tax*		$	0.80			$	0.78			2.6		%		$	0.65			23.1		%
Adjusted Return on Average Assets, net of tax*			1.89	%			1.91	%							1.60	%
Adjusted Return on Average Common
Stockholders' Equity, net of tax*			17.24	%			17.71	%							16.21	%
YEAR-TO-DATE OPERATING RESULTS
Net Income		$	256,072											$	190,219			34.6		%
Net Income Available to Common Stockholders		$	256,041											$	190,188			34.6		%
Diluted Earnings Per Share		$	2.34											$	1.74			34.5		%
Return on Average Assets			1.90	%											1.44	%
Return on Average Common Stockholders' Equity			17.62	%											15.01	%
Average Diluted Shares Outstanding			109,395												109
Adjusted Net Income, net of tax*		$	255,961											$	200,779			27.5		%
Adjusted Net Income Available to Common
Stockholders, net of tax*		$	255,930											$	200,748			27.5		%
Adjusted Diluted Earnings Per Share, net of tax*		$	2.34											$	1.84			27.3		%
Adjusted Return on Average Assets, net of tax*			1.90	%											1.52	%
Adjusted Return on Average Common
Stockholders' Equity, net of tax*			17.61	%											15.85	%
BALANCE SHEET
Total Assets		$	18,319,690			$	18,345,498			(0.1	)	%		$	17,584,199			4.2		%
Loans			14,737,303				14,478,489			1.8		%			13,311,967			10.7		%
Noninterest-bearing Demand Deposits			2,910,281				2,995,402			(2.8	)	%			2,598,895			12.0		%
Total Deposits			14,087,378				14,548,730			(3.2	)	%			14,106,922			(0.1	)	%
Stockholders' Equity			2,037,346				1,978,418			3.0		%			1,781,647			14.4		%

* 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 noninterest income, and adjusted noninterest expense. Please see “GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures.”

**All share and per-share amounts presented reflect the Company’s two-for-one stock split during the quarter, including retrospective adjustments to prior-period amounts.

Note: Amounts presented in this report may not sum to the totals due to rounding.

DETAILED FINANCIALS

ServisFirst Bancshares, Inc. reported net income and net income available to common stockholders of $87.3 million for the quarter ended September 30, 2026, compared to $65.6 million for the third quarter of 2025. Basic and diluted earnings per common share were both $0.80 in the third quarter of 2026, compared to $0.78 in the second quarter of 2026 and $0.60 in the third quarter of 2025. The prior-year quarter adjusted diluted earnings per share were $0.65.

Annualized return on average assets was1.89% and annualized return on average common stockholders’ equity was 17.26% for the third quarter of 2026, compared to 1.47% and 14.88%, respectively, for the third quarter of 2025.

Net interest income was $159.8 million for the third quarter of 2026, compared to $155.6 million for the second quarter of 2026 and $133.4 million for the third quarter of 2025. The net interest margin in the third quarter of 2026 was 3.63% compared to 3.63% in the second quarter of 2026 and 3.09% in the third quarter of 2025. Loan yields were 6.24% during the third quarter of 2026 compared to 6.23% during the second quarter of 2026 and 6.34% during the third 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 3.85% during the third quarter of 2026 compared to 3.82% during the second quarter of 2026 and 3.60% during the third quarter of 2025. Average interest-bearing deposit rates were 2.80% during the third quarter of 2026, compared to 2.80% during the second quarter of 2026 and 3.41% during the third quarter of 2025. Average federal funds purchased rates were 3.78% during the third quarter of 2026, compared to 3.74% during the second quarter of 2026 and 4.46% during the third quarter of 2025.

Average loans for the third quarter of 2026 were $14.54 billion, an increase of $320.5 million, or 8.9% annualized, from average loans of $14.22 billion for the second quarter of 2026, and an increase of $1.34 billion, or 10.1%, from average loans of $13.21 billion for the third quarter of 2025. Ending total loans for the third quarter of 2026 were $14.74 billion, an increase of $258.8 million, or 7.1% annualized, from $14.48 billion for the second quarter of 2026, and an increase of $1.43 billion, or 10.7%, from $13.31 billion for the third quarter of 2025.

Average total deposits for the third quarter of 2026 were $14.33 billion, an increase of $10.6 million, or 0.3% annualized, from average total deposits of $14.32 billion for the second quarter of 2026, and an increase of $195.2 million, or 1.4%, from average total deposits of $14.13 billion for the third quarter of 2025. Ending total deposits for the third quarter of 2026 were $14.09 billion, a decrease of $461.4 million, or 12.6% annualized, from $14.55 billion for the second quarter of 2026, and a decrease of $19.5 million, or 0.1%, from $14.11 billion for the third quarter of 2025.

Nonperforming assets to total assets were 0.96% for the third quarter of 2026, compared to 0.96% for the second quarter of 2026 and 0.96% for the third quarter of 2025. Annualized net charge-offs to average loans were 0.21% for the third quarter of 2026, compared to 0.11% for the second quarter of 2026 and 0.27% for the third quarter of 2025. The allowance for credit losses to total loans at September 30, 2026, June 30, 2026, and September 30, 2025, was 1.28%, 1.26%, and 1.28%, respectively. We recorded a $14.9 million provision for loan losses in the third quarter of 2026 compared to $11.7 million in the second quarter of 2026, and $9.3 million in the third quarter of 2025.

Noninterest income was $13.1 million for the third quarter of 2026 compared to $2.8 million in the third quarter of 2025, an increase of $10.3 million. Adjusted for $148,000 of securities gains in the third of 2026 and $7.8 million of securities losses in the third quarter of 2025, this represented a $2.3 million, or 21.8% increase. Service charges on deposit accounts increased $132,000, or 4.0%, to $3.4 million for the third quarter of 2026 from $3.3 million in the third quarter of 2025, and increased $110,000, or 3.3% on a linked quarter basis. Mortgage banking revenue remained relatively flat at $1.9 million, on a year-over-year basis. Credit card income remained relatively flat at $2.4 million, on a year-over-year basis. Bank-owned life insurance (“BOLI”) income increased $1.9 million, or 80.6%, to $4.3 million for the third quarter of 2026 from $2.4 million in the third quarter of 2025, and increased $210,000, or 5.1%, on a linked quarter basis. Other operating income increased $174,000, or 26.6%, to $829,000 for the third quarter of 2026 from $655,000 in the third quarter of 2025, and increased $121,000, or 17.1%, on a linked quarter basis.

Noninterest expense increased $4.2 million, or 8.8%, to $52.2 million for the third quarter of 2026 from $48.0 million in the third quarter of 2025, and increased $2.3 million, or 4.5%, on a linked quarter basis. Salary and benefit expense increased $1.4 million, or 5.5%, to $26.9 million for the third quarter of 2026 from $25.5 million in the third quarter of 2025, and increased $653,000, or 2.5%, 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 25, or 3.8%, to 675 at September 30, 2026 compared to 650 at September 30, 2025, and increased by twelve from the end of the second quarter of 2026. Equipment and occupancy expense decreased $234,000, or 6.5%, to $3.4 million for the third quarter of 2026 from $3.6 million in the third quarter of 2025, and decreased $582,000, or 14.7%, on a linked quarter basis. Third party processing and other services expense decreased $14,000, or 0.2%, to $8.1 million for the third quarter of 2026 from $8.1 million in the third quarter of 2025, and increased $119,000, or 1.5%, on a linked quarter basis. Professional services expense increased $94,000, or 5.1%, to $2.0 million for the third quarter of 2026 from $1.9 million in the third quarter of 2025, and decreased $276,000, or 12.4%, on a linked quarter basis. Other operating expenses increased $2.9 million, or 46.9%, to $8.9 million for the third quarter of 2026 from $6.1 million in the third quarter of 2025, and increased $2.2 million, or 33.2%, on a linked quarter basis. The efficiency ratio was 30.20% during the third quarter of 2026 compared to 35.22% during the third quarter of 2025 and 29.65% during the second quarter of 2026.

Our effective tax rate was 17.21% for the third quarter of 2026 compared to 16.81% for the third quarter of 2025, and 19.94% on a linked quarter basis. During the third 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 third quarters of 2026 and 2025 of $37,000 and $81,000, 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.

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

SELECTED FINANCIAL HIGHLIGHTS (UNAUDITED)
(in Thousands except per share data)
		3rd Quarter 2026				2nd Quarter 2026				1st Quarter 2026				4th Quarter 2025				3rd Quarter 2025
CONSOLIDATED STATEMENT OF INCOME
Interest income		$	257,353			$	249,880			$	241,480			$	251,388			$	251,308
Interest expense			97,539				94,243				93,332				104,867				117,860
Net interest income			159,814				155,637				148,148				146,521				133,448
Provision for credit losses			15,245				11,412				10,637				7,922				9,463
Net interest income after provision for credit losses			144,569				144,225				137,511				138,599				123,985
Noninterest income			13,112				12,892				10,840				15,691				2,833
Noninterest expense			52,229				49,961				47,384				46,683				47,996
Income before income tax			105,452				107,156				100,967				107,607				78,822
Provision for income tax			18,144				21,363				17,996				21,223				13,251
Net income			87,308				85,793				82,971				86,384				65,571
Preferred stock dividends			-				31				-				31				-
Net income available to common stockholders		$	87,308			$	85,762			$	82,971			$	86,353			$	65,571
Earnings per share - basic		$	0.80			$	0.78			$	0.76			$	0.79			$	0.60
Earnings per share - diluted		$	0.80			$	0.78			$	0.76			$	0.79			$	0.60
Average diluted shares outstanding			109,390				109,406				109,390				109,352				109,336
CONSOLIDATED BALANCE SHEET DATA
Total assets		$	18,319,690			$	18,345,498			$	18,171,287			$	17,727,190			$	17,584,199
Loans			14,737,303				14,478,489				13,945,913				13,696,912				13,311,967
Debt securities			1,563,099				1,630,531				1,684,421				1,728,901				1,849,739
Noninterest-bearing demand deposits			2,910,281				2,995,402				2,836,622				2,684,272				2,598,895
Total deposits			14,087,378				14,548,730				14,486,364				14,219,034				14,106,922
Borrowings			34,750				34,750				34,750				34,750				64,750
Stockholders' equity			2,037,346				1,978,418				1,912,537				1,850,347				1,781,647
Shares outstanding			109,343				109,342				109,326				109,250				109,243
Book value per share		$	18.63			$	18.09			$	17.49			$	16.94			$	16.31
Tangible book value per share (1)		$	18.51			$	17.97			$	17.37			$	16.81			$	16.18
SELECTED FINANCIAL RATIOS (Annualized)
Net interest margin			3.63	%			3.63	%			3.53	%			3.38	%			3.09	%
Return on average assets			1.89	%			1.91	%			1.89	%			1.91	%			1.47	%
Return on average common stockholders' equity			17.26	%			17.71	%			17.91	%			18.93	%			14.88	%
Efficiency ratio			30.20	%			29.65	%			29.80	%			28.78	%			35.22	%
Noninterest expense to average earning assets			1.18	%			1.16	%			1.13	%			1.08	%			1.11	%
CAPITAL RATIOS (2)
Common equity tier 1 capital to risk-weighted assets			11.98	%			11.83	%			11.86	%			11.65	%			11.49	%
Tier 1 capital to risk-weighted assets			11.98	%			11.83	%			11.87	%			11.66	%			11.50	%
Total capital to risk-weighted assets			13.26	%			13.09	%			13.13	%			12.93	%			12.91	%
Tier 1 capital to average assets			11.11	%			10.93	%			10.71	%			10.26	%			10.01	%
Tangible common equity to total tangible assets (1)			11.05	%			10.72	%			10.46	%			10.37	%			10.06	%
(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. We recognized an $8.6 million loss on sale of available-for-sale debt securities in noninterest income during the second quarter of 2025 due to restructuring the portfolio. We reversed a $2.3 million legal reserve from interest expense during the second quarter of 2025. We recognized a $7.8 million loss on sale of available-for-sale debt securities in non-interest income during the third quarter of 2025 due to continued restructuring of the portfolio. These adjustments to our results are to reflect items unusual, or infrequent, in nature and are not considered to be part of our non-interest expense, run rate. Each of adjusted net income, adjusted net income available to common stockholders, adjusted diluted earnings per share, adjusted net interest income, adjusted return on average assets, adjusted return on average common stockholders’ equity, and adjusted efficiency ratio excludes the impact of this, net of tax, and are all considered non-GAAP financial measures. 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 noninterest income, and adjusted noninterest 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 per share data.

	At September 30, 2026					At June 30, 2026					At March 31, 2026					At December 31, 2025					At September 30, 2025
Book value per share - GAAP	$	18.63				$	18.09				$	17.49				$	16.94				$	16.31
Total common stockholders' equity - GAAP		2,037,346					1,978,418					1,912,537					1,850,347					1,781,647
Adjustment for Goodwill		(13,615	)				(13,615	)				(13,615	)				(13,615	)				(13,615	)
Tangible common stockholders' equity - non-GAAP	$	2,023,731				$	1,964,803				$	1,898,922				$	1,836,732				$	1,768,032
Tangible book value per share - non-GAAP	$	18.51				$	17.97				$	17.37				$	16.81				$	16.18
Stockholders' equity to total assets - GAAP		11.12		%			10.78		%			10.53		%			10.44		%			10.13		%
Total assets - GAAP	$	18,319,690				$	18,345,498				$	18,171,287				$	17,727,190				$	17,584,199
Adjustment for Goodwill		(13,615	)				(13,615	)				(13,615	)				(13,615	)				(13,615	)
Total tangible assets - non-GAAP	$	18,306,075				$	18,331,883				$	18,157,672				$	17,713,575				$	17,570,584
Tangible common equity to total tangible assets - non-GAAP		11.05		%			10.72		%			10.46		%			10.37		%			10.06		%

		Three Months Ended September 30, 2026					Three Months Ended September 30, 2025						Nine Months Ended September 30, 2026					Nine Months Ended September 30, 2025
Net income - GAAP		$	87,308				$	65,571					$	256,072				$	190,219
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
(Gain) loss on marketable securities			(148	)				7,812						(148	)				16,375
Tax on adjustments			37					(1,961	)					37					(3,539	)
Adjusted net income - non-GAAP		$	87,197				$	71,422					$	255,961				$	200,779
Net income available to common stockholders - GAAP		$	87,308				$	65,571					$	256,041				$	190,188
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
(Gain) loss on marketable securities			(148	)				7,812						(148	)				16,375
Tax on adjustments			37					(1,961	)					37					(3,539	)
Adjusted net income available to common stockholders - non-GAAP		$	87,197				$	71,422					$	255,930				$	200,748
Diluted earnings per share - GAAP		$	0.80				$	0.60					$	2.34				$	1.74
Adjustments:
Legal matter accrual reversal			-					-						-					(0.02	)
(Gain) loss on marketable securities			-					0.07						-					0.15
Tax on adjustments			-					(0.02	)					-					(0.03	)
Adjusted diluted earnings per share - non-GAAP		$	0.80				$	0.65					$	2.34				$	1.84
Net interest income, on a fully taxable-equivalent basis		$	159,885				$	133,502					$	464,344				$	388,897
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
Tax on adjustments			-					-						-					571
Adjusted net interest income, on a fully taxable-equivalent basis		$	159,885				$	133,502					$	464,344				$	387,192
Return on average assets - GAAP			1.89		%			1.47		%				1.90		%			1.44		%
Net income available to common stockholders - GAAP		$	87,308				$	65,571					$	256,041				$	190,188
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
(Gain) loss on marketable securities			(148	)				7,812						(148	)				16,375
Tax on adjustments			37					(1,961	)					37					(3,539	)
Adjusted net income available to common stockholders - non-GAAP		$	87,197				$	71,422					$	255,930				$	200,748
Average assets - GAAP		$	18,320,832				$	17,709,359					$	18,035,725				$	17,681,999
Adjusted return on average assets - non-GAAP			1.89		%			1.60		%				1.90		%			1.52		%
Return on average common stockholders' equity - GAAP			17.26		%			14.88		%				17.62		%			15.01		%
Net income available to common stockholders - GAAP		$	87,308				$	65,571					$	256,041				$	190,188
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
(Gain) loss on marketable securities			(148	)				7,812						(148	)				16,375
Tax on adjustments			37					(1,961	)					37					(3,539	)
Adjusted net income available to common stockholders - non-GAAP		$	87,197				$	71,422					$	255,930				$	200,748
Average common stockholders' equity - GAAP		$	2,007,112				$	1,747,825					$	1,943,224				$	1,693,601
Adjusted return on average common stockholders' equity non-GAAP			17.24		%			16.21		%				17.61		%			15.85		%
Efficiency ratio			30.20		%			35.22		%				29.89		%			34.56		%
Net interest income - GAAP		$	159,814				$	133,448					$	463,599				$	388,688
Adjustments:
Legal matter accrual reversal			-					-						-					(2,276	)
Adjusted net interest income - non-GAAP		$	159,814				$	133,448					$	463,599				$	386,412
Total noninterest income - GAAP			13,112					2,833						36,844					11,531
Adjustments:
(Gain) loss on marketable securities			(148	)				7,812						(148	)				16,375
Adjusted noninterest income - non-GAAP		$	12,964				$	10,645					$	36,696				$	27,906
Adjusted net interest income and noninterest income - non-GAAP			172,778					144,093						500,295					414,318
Noninterest expense - GAAP		$	52,229				$	47,996					$	149,574				$	138,307
Adjustments:
Adjusted noninterest expense - non-GAAP		$	52,229				$	47,996					$	149,574				$	138,307
Adjusted efficiency ratio - non-GAAP			30.23		%			33.31		%				29.90		%			33.38		%

CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in Thousands except per share data)
		September 30, 2026				September 30, 2025				% Change
ASSETS
Cash and due from banks		$	122,417			$	144,089			(15	)	%
Interest-bearing balances due from depository institutions			738,547				1,191,447			(38	)	%
Federal funds sold and securities purchased with agreement to resell			324,051				437,769			(26	)	%
Cash and cash equivalents			1,185,015				1,773,305			(33	)	%
Available for sale debt securities, at fair value			968,503				1,178,144			(18	)	%
Held to maturity debt securities (fair value of $533,106 and $622,825, respectively)			594,596				671,595			(11	)	%
Restricted equity securities			12,475				12,203			2		%
Mortgage loans held for sale			15,273				9,433			62		%
Loans			14,737,303				13,311,967			11		%
Less allowance for credit losses			(189,010	)			(170,235	)		11		%
Loans, net			14,548,293				13,141,732			11		%
Premises and equipment, net			67,390				60,704			11		%
Goodwill			13,615				13,615			-		%
Other assets			914,530				723,468			26		%
Total assets		$	18,319,690			$	17,584,199			4		%
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Noninterest-bearing demand		$	2,910,281			$	2,598,895			12		%
Interest-bearing			11,177,097				11,508,027			(3	)	%
Total deposits			14,087,378				14,106,922			-		%
Federal funds purchased			1,965,000				1,488,150			32		%
Other borrowings			34,750				64,750			(46	)	%
Other liabilities			195,216				142,730			37		%
Total liabilities			16,282,344				15,802,552			3		%
Stockholders' equity:
Preferred stock, par value $0.001 per share; 1,000 authorized and undesignated at
September 30, 2026 and September 30, 2025			-				-			-		%
Common stock, par value $0.001 per share; 200,000 shares authorized; 109,343 shares
issued and outstanding at September 30, 2026, and 109,243
shares issued and outstanding at September 30, 2025			109				109			-		%
Additional paid-in capital			240,134				237,181			1		%
Retained earnings			1,807,673				1,548,098			17		%
Accumulated other comprehensive loss			(11,070	)			(4,241	)		161		%
Total stockholders' equity attributable to ServisFirst Bancshares, Inc.			2,036,846				1,781,147			14		%
Noncontrolling interest			500				500			-		%
Total stockholders' equity			2,037,346				1,781,647			14		%
Total liabilities and stockholders' equity		$	18,319,690			$	17,584,199			4		%

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)
		Three Months Ended September 30,							Nine Months Ended September 30,
		2026			2025				2026			2025
Interest income:
Interest and fees on loans		$	228,652		$	210,987			$	659,449		$	614,444
Debt securities			16,088			17,343				48,014			49,939
Federal funds sold and securities purchased with agreement to resell			3,392			4,724				13,099			6,336
Other interest and dividends			9,221			18,254				28,151			68,320
Total interest income			257,353			251,308				748,713			739,039
Interest expense:
Deposits			80,414			98,735				238,139			286,968
Borrowed funds			17,125			19,125				46,975			63,383
Total interest expense			97,539			117,860				285,114			350,351
Net interest income			159,814			133,448				463,599			388,688
Provision for credit losses			15,245			9,463				37,294			27,389
Net interest income after provision for credit losses			144,569			123,985				426,305			361,299
Noninterest income:
Service charges on deposit accounts			3,448			3,316				10,082			8,545
Mortgage banking			1,935			1,864				6,048			3,800
Credit card income			2,409			2,405				7,103			6,492
Securities gains (losses)			148			(7,812	)			148			(16,375	)
Bank-owned life insurance income			4,343			2,405				11,298			6,668
Other operating income			829			655				2,165			2,401
Total noninterest income			13,112			2,833				36,844			11,531
Noninterest expenses:
Salaries and employee benefits			26,927			25,522				80,054			70,977
Equipment and occupancy expense			3,381			3,615				11,292			10,860
Third party processing and other services			8,081			8,095				23,568			23,838
Professional services			1,951			1,857				6,121			5,694
FDIC and other regulatory assessments			2,478			2,742				7,977			8,349
Other real estate owned expense			476			82				571			142
Other operating expenses			8,935			6,083				19,991			18,447
Total noninterest expenses			52,229			47,996				149,574			138,307
Income before income taxes			105,452			78,822				313,575			234,523
Provision for income taxes			18,144			13,251				57,503			44,304
Net income			87,308			65,571				256,072			190,219
Dividends on preferred stock			-			-				31			31
Net income available to common stockholders		$	87,308		$	65,571			$	256,041		$	190,188
Basic earnings per common share		$	0.80		$	0.60			$	2.34		$	1.74
Diluted earnings per common share		$	0.80		$	0.60			$	2.34		$	1.74

LOANS BY TYPE (UNAUDITED)
(In thousands)
		3rd Quarter 2026			2nd Quarter 2026			1st Quarter 2026			4th Quarter 2025			3rd Quarter 2025
Commercial, financial and agricultural		$	3,386,275		$	3,252,437		$	3,189,704		$	3,146,736		$	2,945,784
Real estate - construction			1,566,203			1,564,504			1,531,042			1,457,628			1,532,285
Real estate - mortgage:
Owner-occupied commercial			2,853,062			2,781,375			2,718,512			2,739,823			2,680,055
1-4 family mortgage			1,717,781			1,685,723			1,695,140			1,671,713			1,625,296
Non-owner occupied commercial			5,141,148			5,123,635			4,739,642			4,603,389			4,448,710
Subtotal: Real estate - mortgage			9,711,991			9,590,733			9,153,294			9,014,925			8,754,061
Consumer			72,834			70,815			71,873			77,623			79,837
Total loans		$	14,737,303		$	14,478,489		$	13,945,913		$	13,696,912		$	13,311,967

SUMMARY OF CREDIT LOSS EXPERIENCE (UNAUDITED)
(Dollars in thousands)
	3rd Quarter 2026				2nd Quarter 2026				1st Quarter 2026				4th Quarter 2025				3rd Quarter 2025
Allowance for credit losses:
Beginning balance	$	181,853			$	173,905			$	171,683			$	170,235			$	169,959
Loans charged off:
Commercial, financial and agricultural		1,862				4,074				8,291				7,695				7,947
Real estate - construction		6,959				711				-				-				-
Real estate - mortgage		207				5				91				64				1,294
Consumer		137				79				171				465				109
Total charge offs		9,165				4,869				8,553				8,224				9,350
Recoveries:
Commercial, financial and agricultural		1,398				667				178				1,532				237
Real estate - construction		-				-				-				-				30
Real estate - mortgage		3				396				-				-				-
Consumer		23				59				35				10				21
Total recoveries		1,423				1,122				213				1,542				288
Net charge-offs		7,741				3,747				8,340				6,682				9,062
Provision for loan losses		14,899				11,695				10,562				8,130				9,338
Ending balance	$	189,010			$	181,853			$	173,905			$	171,683			$	170,235
Allowance for credit losses to total loans		1.28	%			1.26	%			1.25	%			1.25	%			1.28	%
Allowance for credit losses to total average loans		1.30	%			1.28	%			1.26	%			1.27	%			1.29	%
Net charge-offs to total average loans		0.21	%			0.11	%			0.25	%			0.20	%			0.27	%
Provision for credit losses to total average loans		0.41	%			0.33	%			0.31	%			0.24	%			0.28	%
Nonperforming assets:
Nonaccrual loans	$	160,084			$	169,711			$	176,613			$	168,351			$	166,662
Loans 90+ days past due and accruing		1,514				1,242				1,274				478				965
Other real estate owned and
repossessed assets		14,865				4,834				3,072				2,583				611
Total	$	176,463			$	175,787			$	180,959			$	171,412			$	168,238
Nonperforming loans to total loans		1.10	%			1.18	%			1.28	%			1.23	%			1.26	%
Nonperforming assets to total assets		0.96	%			0.96	%			1.00	%			0.97	%			0.96	%
Nonperforming assets to earning assets		1.01	%			0.99	%			1.05	%			1.01	%			1.00	%
Allowance for credit losses to nonaccrual loans		118.07	%			107.15	%			98.47	%			101.98	%			102.14	%

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands except per share data)
		3rd Quarter 2026			2nd Quarter 2026			1st Quarter 2026			4th Quarter 2025			3rd Quarter 2025
Interest income:
Interest and fees on loans		$	228,652		$	220,731		$	210,066		$	214,252		$	210,987
Debt securities			16,088			15,827			16,099			17,204			17,343
Federal funds sold and securities purchased with agreement to resell			3,392			4,146			5,561			5,671			4,724
Other interest and dividends			9,221			9,176			9,754			14,261			18,254
Total interest income			257,353			249,880			241,480			251,388			251,308
Interest expense:
Deposits			80,414			79,440			78,285			86,920			98,735
Borrowed funds			17,125			14,803			15,047			17,947			19,125
Total interest expense			97,539			94,243			93,332			104,867			117,860
Net interest income			159,814			155,637			148,148			146,521			133,448
Provision for credit losses			15,245			11,412			10,637			7,922			9,463
Net interest income after provision for credit losses			144,569			144,225			137,511			138,599			123,985
Noninterest income:
Service charges on deposit accounts			3,448			3,338			3,296			3,339			3,316
Mortgage banking			1,935			2,221			1,892			1,664			1,864
Credit card income			2,409			2,492			2,202			1,835			2,405
Securities gains (losses)			148			-			-			-			(7,812	)
Bank-owned life insurance income			4,343			4,133			2,822			8,149			2,405
Other operating income			829			708			628			704			655
Total noninterest income			13,112			12,892			10,840			15,691			2,833
Noninterest expenses:
Salaries and employee benefits			26,927			26,274			26,853			23,838			25,522
Equipment and occupancy expense			3,381			3,963			3,948			3,737			3,615
Third party processing and other services			8,081			7,962			7,525			7,779			8,095
Professional services			1,951			2,227			1,943			1,481			1,857
FDIC and other regulatory assessments			2,478			2,753			2,745			2,641			2,742
Other real estate owned expense			476			75			20			13			82
Other operating expenses			8,935			6,707			4,350			7,194			6,083
Total noninterest expenses			52,229			49,961			47,384			46,683			47,996
Income before income taxes			105,452			107,156			100,967			107,607			78,822
Provision for income taxes			18,144			21,363			17,996			21,223			13,251
Net income			87,308			85,793			82,971			86,384			65,571
Dividends on preferred stock			-			31			-			31			-
Net income available to common stockholders		$	87,308		$	85,762		$	82,971		$	86,353		$	65,571
Basic earnings per common share		$	0.80		$	0.78		$	0.76		$	0.79		$	0.60
Diluted earnings per common share		$	0.80		$	0.78		$	0.76		$	0.79		$	0.60

AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)
ON A FULLY TAXABLE-EQUIVALENT BASIS
(Dollars in thousands)
		3rd Quarter 2026							2nd Quarter 2026							1st Quarter 2026							4th Quarter 2025							3rd 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		$	14,523,000			6.23	%		$	14,198,439			6.18	%		$	13,751,447			6.18	%		$	13,474,271			6.30	%		$	13,175,297			6.34	%
Tax-exempt (2)			21,997			7.41				26,082			37.03				32,976			5.82				30,670			5.52				30,478			5.47
Total loans, net of unearned
income			14,544,997			6.24				14,224,521			6.23				13,784,423			6.18				13,504,941			6.29				13,205,775			6.34
Mortgage loans held for sale			11,909			4.83				13,327			5.30				10,680			4.40				9,887			4.49				11,351			4.82
Debt securities:
Taxable			1,669,210			3.85				1,657,378			3.82				1,702,499			3.78				1,826,632			3.77				1,926,101			3.60
Tax-exempt (2)			444			5.41				444			5.41				444			5.41				444			5.41				444			5.41
Total securities (3)			1,669,654			3.85				1,657,822			3.82				1,702,943			3.78				1,827,076			3.77				1,926,545			3.60
Federal funds sold and securities
purchased with agreement to resell			298,700			4.50				372,645			4.46				501,377			4.50				469,148			4.79				365,733			5.12
Restricted equity securities			12,465			5.98				12,456			6.41				12,228			6.17				12,193			6.61				12,167			6.36
Interest-bearing balances with banks			950,426			3.76				964,808			3.73				1,041,026			3.73				1,393,155			4.00				1,608,118			4.45
Total interest-earning assets		$	17,488,151			5.84	%		$	17,245,579			5.82	%		$	17,052,677			5.75	%		$	17,216,400			5.79	%		$	17,129,689			5.82	%
Noninterest-earning assets:
Cash and due from banks			84,825							96,648							103,847							102,066							103,470
Net premises and equipment			65,791							63,303							61,253							61,009							60,614
Allowance for credit losses, accrued
interest and other assets			682,065							606,506							552,337							556,704							415,586
Total assets		$	18,320,832						$	18,012,036						$	17,770,114						$	17,936,179						$	17,709,359
Interest-bearing liabilities:
Interest-bearing deposits:
Checking		$	2,226,470			1.72	%		$	2,050,758			1.69	%		$	2,101,953			1.60	%		$	2,126,615			1.77	%		$	2,069,440			2.16	%
Savings			110,246			1.43				112,077			1.41				110,843			1.42				106,551			1.52				103,668			1.66
Money market			7,835,165			3.05				7,956,884			3.03				7,812,168			3.01				7,816,487			3.23				7,965,115			3.67
Time deposits			1,235,134			3.28				1,274,496			3.26				1,373,023			3.42				1,392,749			3.80				1,344,257			3.97
Total interest-bearing deposits			11,407,015			2.80				11,394,215			2.80				11,397,987			2.79				11,442,402			3.01				11,482,480			3.41
Federal funds purchased			1,760,091			3.78				1,549,520			3.74				1,593,215			3.74				1,712,399			4.01				1,640,377			4.46
Other borrowings			34,750			3.96				34,750			4.02				34,750			4.05				59,207			4.21				64,761			4.21
Total interest-bearing liabilities		$	13,201,856			2.93	%		$	12,978,485			2.91	%		$	13,025,952			2.91	%		$	13,214,008			3.15	%		$	13,187,618			3.55	%
Noninterest-bearing liabilities:
Noninterest-bearing
checking			2,921,746							2,923,956							2,728,354							2,768,495							2,651,043
Other liabilities			190,118							167,024							137,231							143,680							122,873
Stockholders' equity			2,010,433							1,944,735							1,879,072							1,813,097							1,762,980
Accumulated other comprehensive
loss			(3,321	)						(2,164	)						(495	)						(3,101	)						(15,155	)
Total liabilities and
stockholders' equity		$	18,320,832						$	18,012,036						$	17,770,114						$	17,936,179						$	17,709,359
Net interest spread						2.91	%						2.91	%						2.84	%						2.64	%						2.27	%
Net interest margin						3.63	%						3.63	%						3.53	%						3.38	%						3.09	%
(1) Average loans include nonaccrual loans in all periods. Loan fees of $5,169, $4,763, $5,186, $5,464, and $6,103 are included in interest income in the third quarter of 2026, second quarter of 2026, first quarter of 2026, fourth quarter of 2025, and third 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 $(6,260), $(4,830), $(2,713), $(6,311), and $(22,574) for the third quarter of 2026, second quarter of 2026, first quarter of 2026, fourth quarter of 2025, and third quarter of 2025, respectively, are excluded from the yield calculation.