ServisFirst Q3 profit falls 17% to $53.3 million as net interest margin narrows
ServisFirst Bancshares reported third-quarter 2023 net income of $53.3 million, or $0.98 per diluted share, down 17% from $64.0 million, or $1.17 per share, a year earlier. Net interest income fell to $99.7 million from $126.4 million, as the net interest margin dropped to 2.64% from 3.64%, which management attributed to Federal Reserve rate increases; management said loan pipelines are beginning to rebuild and should improve profitability in coming quarters.
Key points
- Net income of $53.3 million and diluted EPS of $0.98, versus $64.0 million and $1.17 in Q3 2022 and flat with Q2 2023.
- Net interest margin of 2.64%, compared with 2.93% in Q2 2023 and 3.64% in Q3 2022.
- Total assets reached $16.0 billion, up 16% from $13.9 billion a year earlier; total deposits were $13.1 billion.
- Cash on hand was $2.0 billion with no FHLB advances or brokered deposits, and the non-performing assets ratio was 0.15%.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 16, 2023.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.