Birmingham, Ala. – (PR Newswire) – February 2, 2010 – ServisFirst Bancshares, Inc. today amended its previously announced earnings report for the quarter and year ended December 31, 2009. This corrected report reflects additional expense of $800,000 for the fourth quarter of 2009 primarily related to the initial installment of the 13-quarter prepayment of Federal Deposit Insurance Corporation (FDIC) premiums adopted by the FDIC in November 2009. This expense was not reflected in the Company’s initial earnings announcement on January 19, 2010, which was corrected by the Company in connection with the preparation of its audited financial statements for the year ended December 31, 2009. As shown in the attached financial data, the effect of this expense, net of the income tax benefit, was to reduce the Company’s net income by $504,856, or $.09 (basic) and $.09 (diluted) per share, for the quarter and year ended December 31, 2009.

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 collectability 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-bank 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 “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.

	Three Months Ended
	December 31,				September 30,
	2009		2008		2009
	(Unaudited)		(Unaudited)		(Unaudited)
Total interest income	$	17,190	$	14,393	$	16,092
Total interest expense		4,320		5,075		4,648
Net interest income before provision		12,870		9,318		11,444
Provision for loan losses		2,408		1,373		3,209
Net interest income after provision for loan losses		10,462		7,945		8,235
Total noninterest income		1,244		792		967

Salaries and employee benefits		3,227		2,642		3,398
Other noninterest expense		5,416		3,113		3,574
Total noninterest expense		8,643		5,755		6,972
Income before taxes		3,063		2,982		2,230
Income taxes		1,072		1,021		622
Net income	$	1,991	$	1,961	$	1,608

Basic earnings per share	$	0.36	$	0.38	$	0.29
Diluted earnings per share	$	0.34	$	0.36	$	0.28
Average basic shares		5,513,482		5,116,314		5,513,482
Average fully diluted shares		5,828,820		5,391,259		5,821,331

	Year Ended December 31,
	2009		2008
	(Unaudited)		(Audited)
Total interest income	$	62,197	$	55,450
Total interest expense		18,337		20,474
Net interest income before provision		43,860		34,976
Provision for loan losses		10,685		6,274
Net interest income after provision for loan losses		33,175		28,702
Total noninterest income		4,413		2,704

Salaries and employee benefits		13,581		10,552
Other noninterest expense		15,349		10,024
Total noninterest expense		28,930		20,576
Income before taxes		8,658		10,830
Income taxes		2,780		3,825
Net income	$	5,878	$	7,005

Basic earnings per share	$	1.07	$	1.37
Diluted earnings per share	$	0.99	$	1.31
Average basic shares		5,485,972		5,114,194
Average fully diluted shares		5,912,925		5,338,883

	December 31, 2009			December 31, 2008
	(Unaudited)			(Audited)
ASSETS
Cash and due from banks	$	75,526		$	53,618
Investment securities		256,098			102,339
Restricted equity securities		3,241			2,659
Federal funds sold and other investments		680			19,300
Mortgage loans held for sale		6,202			3,320

Loans		1,203,584			968,233
Reserve for loan losses		(14,736	)		(10,602	)
Net loans		1,188,848			957,631
Foreclosed real estate		12,525			10,473
Other assets		29,844			12,932
Total assets	$	1,572,964		$	1,162,272

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Noninterest-bearing	$	211,348		$	121,459
Interest-bearing		1,221,048			915,860
Total deposits		1,432,396			1,037,319
Borrowings		40,150			35,087
Interest payable		1,026			1,280
Other liabilities		1,770			1,803
Total liabilities		1,475,342			1,075,489

Stockholders' equity		97,622			86,783
Total liabilities and stockholders' equity	$	1,572,964		$	1,162,272

	Three Months Ended
	December 31,						September 30,
	2009			2008			2009
	(Unaudited)			(Unaudited)			(Unaudited)
Return on average assets		0.50	%		0.70	%		0.45	%
Return on average equity		8.06	%		8.50	%		6.75	%
Net interest margin (fully tax equivalent)		3.33	%		3.50	%		3.36	%
Efficiency ratio		61.24	%		56.92	%		56.18	%

	Year Ended December 31,
	2009			2008
	(Unaudited)			(Audited)
Return on average assets		0.43	%		0.71	%
Return on average equity		6.33	%		9.28	%
Net interest margin (fully tax equivalent)		3.31	%		3.70	%
Efficiency ratio		59.93	%		54.61	%

	12/31/2009			12/31/2008			9/30/2009
	(Unaudited)			(Audited)			(Unaudited)
Book value per share	$	17.71		$	16.15		$	17.68
Tangible book value per share	$	17.71		$	16.15		$	17.68
% of reserve for loan losses to total loans		1.22	%		1.09	%		1.26	%
Nonperforming assets to total loans plus foreclosed real estate		2.03	%		2.06	%		2.51	%