EXHIBIT 99.1
SERVISFIRST BANCSHARES, INC.
REPORTS SECOND QUARTER 2008 EARNINGS
Birmingham, Ala. – (BUSINESS WIRE) – July 21, 2008 – ServisFirst Bancshares, Inc. today reported earnings for the quarter ending June 30, 2008.
Second Quarter 2008 Highlights:
  •   Net Income of $1.75 million: 35% increase year/year
 
  •   Deposit growth: 31% year/year
 
  •   Total Asset growth: 39% year/year
ServisFirst Bancshares, Inc. announced today that its net income for the second quarter of 2008 was $1.75 million compared to $1.3 million for the second quarter of 2007. Fully diluted earnings per share were $.33 in the second quarter of 2008 compared to $.29 in the second quarter of 2007.
Tom Broughton, President and CEO, stated “We continue to focus on our customers while many competitors are distracted by problems some banks within our industry are facing. We have sophisticated customers who know our bankers and have confidence in our performance.”
Bud Foshee, Chief Financial Officer, stated “We are pleased with our increasing profitability and growth in our three markets of Birmingham, Huntsville and Montgomery. Additionally, our credit quality is well above the industry peer group with no exposure to subprime mortgages or troubled investment securities and have no brokered deposits or indirect loans.”
About ServisFirst:
ServisFirst Bancshares, Inc. became a holding company in the fourth quarter of 2007 when it acquired all the shares of ServisFirst Bank. ServisFirst Bank was formed in Birmingham in May 2005, opened ServisFirst Bank Huntsville in August 2006, and opened ServisFirst Bank Montgomery in June 2007.
ServisFirst Bancshares, Inc. registered with the U.S. Securities and Exchange Commission (SEC) as a filing company during the second quarter and its filings are published on the SEC’s website at www.sec.gov.
Statements in this document 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 and Section 27A of the Securities Act of 1933. ServisFirst Bancshares, Inc. cautions that such “forward looking statements,” wherever they occur in this document or in other statements attributable to ServisFirst Bancshares, Inc. are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.’s senior management and involve a number of 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 important factors set forth from time to time in ServisFirst Bancshares, Inc.’s reports and registration statements filed with the SEC. While it is impossible to list all such factors that could affect the accuracy of such “forward looking statements,” some of those factors include: general economic conditions, especially in the credit markets and in the Southeast; 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 in the competitive environment in the markets served by ServisFirst Bancshares, Inc.; changes in the loan portfolio and the deposit base of ServisFirst Bancshares, Inc..
More information about ServisFirst Bancshares may be obtained over the internet at http://www.servisfirstbancshares.com or by calling (205) 949-0302.

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Contact: ServisFirst Bank
Bud Foshee (205) 949-0307
BFoshee@servisfirstbank.com
ServisFirst Bancshares, Inc.
Consolidated Statements of income
(In Thousands Except Shares and Per Share Data)
                         
    Three Months Ended     Three months  
    June 30,     ended March 31,  
    2008     2007     2008  
    (Unaudited)     (Unaudited)     (Unaudited)  
Total Interest Income
   $ 13,341     $ 12,130     $ 13,835  
 
                  
Total interest expense
   $ 4,647     $ 6,133     $ 5,748  
 
                  
Net interest income before provision
   $ 8,694     $ 5,997     $ 8,087  
Provision for loan losses
   $ 2,137     $ 816     $ 1,383  
 
                  
Net interest income
   $ 6,557     $ 5,181     $ 6,704  
 
                  
Total Noninterest Income
   $ 695     $ 302     $ 544  
 
                  
Salaries and employee benefits
   $ 2,400     $ 2,116     $ 2,826  
Other
   $ 2,130     $ 1,287     $ 2,004  
 
                  
Total Noninterest Expenses
   $ 4,530     $ 3,403     $ 4,830  
 
                  
Income before taxes
   $ 2,722     $ 2,080     $ 2,418  
 
                  
Income taxes
   $ 972     $ 783     $ 848  
 
                  
Net Income
   $ 1,750     $ 1,297     $ 1,570  
 
                  
Basic earnings per share
   $ 0.34     $ 0.29     $ 0.31  
 
                  
Fully diluted earnings per share
   $ 0.33     $ 0.29     $ 0.30  
 
                  
Average basic shares
     5,113,482       4,463,606       5,113,482  
 
                  
Average fully diluted shares
     5,324,185       4,512,999       5,283,917  
 
                  
                 
    Six Months Ended June 30,  
    2008     2007  
    (Unaudited)     (Unaudited)  
Total Interest Income
   $ 27,176     $ 22,955  
 
            
Total interest expense
   $ 10,395     $ 11,359  
 
            
Net interest income before provision
   $ 16,781     $ 11,596  
Provision for loan losses
   $ 3,519     $ 1,460  
 
            
Net interest income
   $ 13,262     $ 10,136  
 
            
Total Noninterest Income
   $ 1,238     $ 565  
 
            
Salaries and employee benefits
   $ 5,227     $ 3,982  
Other
   $ 4,133     $ 2,325  
 
            
Total Noninterest Expenses
   $ 9,360     $ 6,307  
 
            
Income before taxes
   $ 5,140     $ 4,394  
 
            
Income taxes
   $ 1,820     $ 1,590  
 
            
Net Income
   $ 3,320     $ 2,804  
 
            
Basic earnings per share
   $ 0.65     $ 0.63  
 
            
Fully diluted earnings per share
   $ 0.63     $ 0.61  
 
            
Average basic shares
     5,113,482       4,463,606  
 
            
Average fully diluted shares
     5,299,333       4,624,968  
 
            

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ServisFirst Bancshares, Inc.
Consolidated Balance Sheets
(In Thousands)
                         
    ACTUAL     ACTUAL     ACTUAL  
    6/30/2008     3/31/2008     6/30/2007  
    (Unaudited)     (Unaudited)     (Unaudited)  
Cash and due from banks
   $ 27,049     $ 19,239     $ 20,274  
Investment securities
   $ 91,772     $ 88,974     $ 50,193  
Restricted equity securities
   $ 2,659     $ 2,659     $ 1,202  
Federal funds sold and other investments
   $ 72     $ 83,455     $ 95,518  
Mortgage loans held for sale
   $ 3,869     $ 4,768     $ 3,159  
Loans
   $ 836,520     $ 755,534     $ 527,476  
Reserve for loan losses
   $ (9,438 )   $ (8,852 )   $ (6,825 )
Net loans
   $ 827,082     $ 746,682     $ 520,651  
Foreclosed real estate
   $ 8,202     $ 3,443     $ 371  
Other assets
   $ 12,405     $ 10,995     $ 10,557  
Total Assets
   $ 973,110     $ 960,215     $ 701,925  
 
                  
Noninterest-bearing
   $ 97,066     $ 88,613     $ 90,631  
Interest bearing
   $ 750,360     $ 774,158     $ 554,277  
Total deposits
   $ 847,426     $ 862,771     $ 644,908  
 
                  
Borrowings
   $ 46,622     $ 20,275     $ —  
Interest payable
   $ 1,336     $ 900     $ 705  
Other liabilities
   $ 2,855     $ 1,626     $ 1,799  
 
                  
Total liabilities
   $ 898,239     $ 885,572     $ 647,412  
 
                  
Stockholders’ equity
   $ 74,871     $ 74,643     $ 54,513  
 
                  
Total liabilities and stockholders’ equity
   $ 973,110     $ 960,215     $ 701,925  
 
                  
ServisFirst Bancshares, inc.
Key Ratios
(Unaudited)
                         
                    Three months ended
    Three months ended June 30,   March 31,
    2008   2007   2008
Return on average assets
     0.74 %     0.80 %     0.72 %
Return on average equity
     9.31 %     9.51 %     8.58 %
Net interest margin
     3.84 %     3.82 %     3.81 %
Efficiency ratio
     48.25 %     54.02 %     55.96 %
                 
    Six months ended June 30,
    2008   2007
Return on average assets
     0.73 %     0.87 %
Return on average equity
     8.95 %     10.34 %
Net interest margin
     3.77 %     3.94 %
Net charge offs annualized to average loans
     0.48 %     0.02 %
Efficiency ratio
     51.94 %     51.86 %
                         
    6/30/2008   6/30/2007   3/31/2008
Book value per share
   $ 14.65     $ 12.39     $ 14.27  
Tangible book value per share
   $ 14.65     $ 12.39     $ 14.27  
% of reserve for loan losses to total loans
     1.13 %     1.29 %     1.17 %
Nonperforming assets to total loans plus foreclosed real estate
     1.57 %     0.54 %     0.82 %

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