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Servis 1st BankⓇ ServisFirst Bancshares , Inc. Announces Results For First Quarter of 2021 BIRMINGHAM , Ala . , April 19 , 2021 ( GLOBE NEWSWIRE ) -- ServisFirst Bancshares , Inc. ( NASDAQ : SFBS ) , today announced earnings and operating results for the quarter ended March 31 , 2021 . First Quarter 2021 Highlights : • Diluted earnings per share were $ 0.95 for the first quarter , an increase of 48 % over the first quarter of 2020 • Deposits grew from $ 7.83 billion to $ 10.58 billion year - over - year , or 35 % , and grew $ 602 million on a linked - quarter basis , or 24 % , annualized • We funded approximately 2,170 round - two Payroll Protection Program ( “ PPP " ) loans totaling approximately $ 386 million through March 31 , 2021 ⚫ Our loan pipeline reached a record level during the quarter • Liquidity reached record levels , with over $ 2.5 billion on deposit at the Federal Reserve Bank • We continue to experience excellent credit quality as we prepare to exit the pandemic • Our efficiency ratio improved to 28 % during the quarter compared to 33 % during the first quarter of 2020 ⚫ Book value per share increased to $ 19.03 , a 16 % increase year - over - year Tom Broughton , Chairman , President and CEO , said , " We are pleased to see the rebound in our pipeline to record levels . All signs point to an economic resurgence post - pandemic . " Bud Foshee , CFO , said , " Growth has continued our normal trend lines while our expense control has been very good . " FINANCIAL SUMMARY ( UNAUDITED ) ( in Thousands except share and per share amounts ) % Change Period Ending Period Ending March 31 , December 31 , 2020 2021 % Change From Period Ending December 31 , 2020 to Period Ending March 31 , 2021 Period Ending From Period Ending March 31 , 2020 to Period Ending March 31 , March 31 , 2020 2021 QUARTERLY OPERATING RESULTS Net Income $ 51,455 $ 50,981 1 % $ 34,778 48 % Net Income Available to Common Stockholders $ 51,455 $ 50,949 1 % $ 34,778 48 % Diluted Earnings Per Share $ 0.95 $ 0.94 1 % $ 0.64 48 % Return on Average Assets 1.72 % 1.74 % 1.54 % Return on Average Common Stockholders ' Equity 19.83 % 20.78 % 16.23 % Average Diluted Shares Outstanding 54,381,991 54,273,944 54,167,414 BALANCE SHEET Total Assets Loans $ 12,647,374 $ 11,932,654 6 % $ 9,364,882 35 % 8,504,980 8,465,688 - % 7,568,836 12 % Non - interest - bearing Demand Deposits 3,044,611 2,788,772 9 % 1,925,626 58 % Total Deposits 10,577,610 9,975,724 6 % 7,832,655 35 % Stockholders ' Equity 1,030,485 992,852 4 % 881,885 17 % DETAILED FINANCIALS ServisFirst Bancshares , Inc. reported net income and net income available to common stockholders of $ 51.5 million for the quarter ended March 31 , 2021 , compared to net income and net income available to common stockholders of $ 34.8 million for the same quarter in 2020. Basic and diluted earnings per common share were $ 0.95 for the first quarter of 2021 , compared to $ 0.65 and $ 0.64 ,