ServisFirst Bancshares, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 28, 2013 at 09:00 am EST
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ServisFirst Bancshares, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income after provision for loan losses of $85,022,000 against $66,359,000 a year ago. Income before taxes was $12,665,000 against $9,986,000 a year ago. Net income available to common stockholders was $8,457,000 or $1.23 per diluted share against $6,487,000 or $0.96 per diluted share a year ago. Return on average assets was 1.18% against 1.08% a year ago. Return on average common equity was 14.67% against 13.40% a year ago.
For the year, the company reported net interest income after provision for loan losses of $85,022,000 against $66,359,000 a year ago. Income before taxes was $51,565,000 against $35,827,000 a year ago. Net income available to common stockholders was $23,238,000 or $4.99 per diluted share against $6,487,000 or $3.53 per diluted share a year ago. Return on average assets was 1.30% against 1.11% a year ago. Return on average common equity was 15.81% against 14.73% a year ago. Book value per common share was $30.84 against $26.34 a year ago. Tangible book value per common share was $30.84 against $26.34 a year ago.
ServisFirst Bancshares, Inc. is a bank holding company. Through its subsidiary ServisFirst Bank (the Bank), provides business and personal financial services from locations in Alabama, Florida, Georgia, North and South Carolina, Tennessee, and Virginia. The Bankâs principal business is to accept deposits from the public and to make loans and other investments. The Company also operates loan production offices in Florida. Through the bank, the Company originate commercial, consumer and other loans and accept deposits, provide electronic banking services, such as online and mobile banking, including remote deposit capture, deliver treasury and cash management services and provide correspondent banking services to other financial institutions. The Banks offers a range of loans to retail customers in the communities. Bank's consumer loans include home equity loans (open and closed-end), vehicle financing, loans secured by deposits, and secured and unsecured personal loans.