ServisFirst Bancshares, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 23 - Quarterly Financial Data (Unaudited)

Note 23 - Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information [Text Block]

NOTE 23. QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table sets forth certain unaudited quarterly financial data derived from our consolidated financial statements. Such data is only a summary and should be read in conjunction with our historical consolidated financial statements and related notes continued in this annual report on Form 10-K.

	2020 Quarter Ended
	(Dollars in thousands, except per share data)
	March 31		June 30		September 30		December 31
Interest income	$	96,767	$	95,080	$	96,110	$	101,065
Interest expense		19,127		11,846		11,028		8,984
Net interest income		77,640		83,234		85,082		92,081
Provision for credit losses (1)		13,584		10,283		12,284		6,283
Net income available to common stockholders		34,778		40,417		43,362		50,949
Net income per common share, basic	$	0.65	$	0.75	$	0.80	$	0.94
Net income per common share, diluted	$	0.64	$	0.75	$	0.80	$	0.94

	2019 Quarter Ended
	(Dollars in thousands, except per share data)
	March 31		June 30		September 30		December 31
Interest income	$	93,699	$	97,787	$	101,130	$	98,187
Interest expense		24,921		27,702		28,125		22,410
Net interest income		68,778		70,085		73,005		75,777
Provision for credit losses (1)		4,885		4,884		6,985		5,884
Net income available to common stockholders		35,010		35,602		37,563		41,005
Net income per common share, basic	$	0.65	$	0.67	$	0.70	$	0.77
Net income per common share, diluted	$	0.65	$	0.66	$	0.69	$	0.76

(1) The first three quarters of 2020 and all of 2019 were estimated and recorded under the incurred loss methodology and not restated for the adoption of ASC 326. The Company elected to delay the adoption of CECL as allowed under the CARES Act.