ServisFirst Bancshares shares jumped almost 19% after the Birmingham, Alabama-based bank holding company, which operates banking and personal financial services provider ServisFirst Bank, reported a second quarter earnings beat.
For the quarter ended June 30, 2023, the company posted earnings per share of $0.98, above the Street’s forecast of $0.89, according to Zacks Consensus Estimate.
Its deposits grew by $672.9 million, or 23.2% on an annualized basis, while loans grew by $987.6 million or 9.3% year-over-year.
New accounts opened increased by 20% and book value per share was up 12% over the same quarter in 2022.
"Our best-in-class banking team delivered strong growth in core banking relationships during the quarter, and the outlook for growth in new relationships is very good,” ServisFirst Bancshares CEO Tom Broughton commented.
ServisFirst Bancshares stock added 18.7% at US$57.49 shortly before noon on Friday.
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