EXHIBIT 99.1
PRESS RELEASE ISSUED APRIL 30, 2009
SERVISFIRST BANCSHARES, INC.
REPORTS FIRST QUARTER 2009 EARNINGS
Birmingham, Ala. — (BUSINESS WIRE) — April 30, 2009 — ServisFirst Bancshares, Inc. today
reported earnings for the quarter ending March 31, 2009.
First Quarter 2009 Highlights:
| • |
|
Total assets grew 31% year/year |
| |
| • |
|
Deposits grew 31% year/year, with no brokered deposits |
| |
| • |
|
ServisFirst Dothan surpasses $100 million in assets at the end of six months of operation. |
| |
| • |
|
Net income of $721,000 |
| |
| • |
|
ServisFirst Bank Tier 2 Capital exceeds $116 million |
Thomas A. Broughton III, President and CEO, stated, “We are pleased to report on a profitable
quarter in which our total assets reached $1.25 billion. We also maintained asset quality
significantly better than our peers, with non-performing assets of 2.2% of total loans. While
earnings were impacted by start-up expenses in our new Dothan Region, we are very pleased with the
early growth and reception for ServisFirst in Houston County, Alabama.” Total assets exceeded $100
million in Dothan at the end of the first quarter of 2009, and ServisFirst completed a private
placement of 400,000 shares of stock at $25 per share, increasing capital by $10 million. “In
addition, margins were tighter due to the company’s high liquidity and we also felt it prudent to
take a conservative approach to our loan loss reserve in light of the current economic conditions;”
said Bud Foshee, CFO.
ABOUT SERVISFIRST:
ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its
subsidiary ServisFirst Bank, ServisFirst provides business and personal financial services through
locations in Birmingham, Huntsville, Montgomery and Dothan, Alabama.
ServisFirst 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 and Section 27A of the Securities Act of 1933. The words
“believe,” “expect,” “anticipate,” “project,” “plan,”, “intend,” “will,” “would,” “might” and
similar expressions often signify forward-looking statements. Such statements involve inherent
risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking
statements, wherever they occur in this press release 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 factors that
could affect the accuracy of such “forward-looking statements,” including: 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 our loan portfolio and the deposit base, possible changes in laws and
regulations and governmental monetary and fiscal policies, including, but not limited to, economic
stimulus initiatives and so-called “bailout” initiatives; 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 collectibility of loans and the value of collateral;
the effect of natural disasters, such as hurricanes, in our geographic markets; and increased
competition from both banks and non-banks. 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 “Risk Factors” in our most recent Annual Report on Form 10-K 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 contained herein.
Accordingly, you should not place undue reliance on any forward-looking statements, which speak
only as of the date made. ServisFirst Bancshares, Inc. assumes no obligation to update or revise
any forward-looking statements that are made from time to time.
More information about ServisFirst Bancshares may be obtained over the internet at
www.servisfirstbancshares.com or by calling
(205) 949-0302.
Contact: ServisFirst Bank
Bud Foshee (205) 949-0307
BFoshee@servisfirstbank.com
2