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| 8-K - ServisFirst Bancshares, Inc. | v212062_8-k.htm |
EXHIBIT
99.1
PRESS
RELEASE ISSUED FEBRUARY 18, 2011
|
FOR
IMMEDIATE RELEASE
February 18,
2011
|
FOR
INFORMATION CONTACT:
Alexis
Cain 205-949-3426
|
SERVISFIRST
BANK
MOST
PROFITABLE BANK IN ALABAMA
BIRMINGHAM, Ala. – ServisFirst
Bank has the highest net income among Alabama banks, according to the financial
research firm SNL Financial. With net income of $18,942,000, ServisFirst Bank
ranked No. 1 on the 2010 list of 137 commercial banks in Alabama.
“We are
very pleased to be recognized as the most profitable bank in the state of
Alabama,” said Bud Foshee, Chief Financial Officer of ServisFirst Bank. “Our
strong financial performance in 2010 reflects management’s commitment to improve
our net interest income, a disciplined approach to expense management and
continuation of the business model that we implemented in 2005. We
value our strong customer and shareholder relationships in each of our regions.
These relationships have been a primary factor in the success of our
bank.”
ABOUT
SERVISFIRST BANK:
ServisFirst
Bank is a full-service bank focused on commercial banking, cash management,
private banking and the professional consumer market, emphasizing competitive
products, state-of-the-art technology and a focus on quality service. The
bank offers sophisticated cash management products, Internet banking, home
mortgage lending, remote deposit express service and highly competitive
rates.
ServisFirst
Bank was formed in Birmingham in May 2005, opened ServisFirst Bank Huntsville in
August 2006, ServisFirst Bank Montgomery in June 2007 and ServisFirst Bank
Dothan in September 2008. More information about ServisFirst Bank may be
obtained at www.servisfirstbank.com
.
ABOUT
SERVISFIRST BANCSHARES, INC.:
ServisFirst
Bancshares, Inc., the parent company of ServisFirst Bank, is a bank holding
company based in Birmingham, 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-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.