ServisFirst Bank Expands Presence in Tennessee with New Office in Memphis, Welcoming Veteran Bankers
Memphis, Tennessee - ServisFirst Bank, a subsidiary of ServisFirst Bancshares, has proudly announced its expansion in the Tennessee region with the addition of a new office in Memphis. This expansion reinforces the bank’s commitment to excellence and customer service in the local community. Eight experienced bankers have joined the team, including Joel E. Smith as Market President, Scott Forman as Sr. Vice President, Commercial Banking, and Michael Joyner as Sr. Vice President, Commercial.
ServisFirst Bank has demonstrated its dedication to growth and expansion by establishing a strong presence in the Tennessee market. The addition of the new office in Memphis signifies the bank’s commitment to serve the financial needs of individuals and businesses in the region.
In recent news, ServisFirst Bancshares Inc reported a return on average invested assets (ROI) of 1.54% in its third quarter of 2023, which falls below its average ROI of 14.28%. This decline in ROI can be attributed to the decrease in net income compared to the previous quarter ending on June 30, 2023. Although ServisFirst Bancshares Inc ranked 1975th in total ROI ranking for the third quarter, the company’s ROI ranking has progressed from 2020 during the second quarter of 2023.
Furthermore, ServisFirst Bancshares, Inc. declared a quarterly cash dividend of $0.28 per share during a meeting held on September 18, 2023. The dividend payout, payable on October 10, 2023, aims to reward shareholders and highlights the company’s commitment to creating long-term value through consistent returns.
As a bank holding company, ServisFirst Bancshares, Inc. is headquartered in Birmingham, Alabama. Its subsidiary, ServisFirst Bank, offers a wide range of commercial, consumer, and private banking services, primarily serving individual and corporate clients. The company’s dedication to delivering superior financial solutions and outstanding customer service has contributed to its growth and success in the competitive banking sector.
In conclusion, ServisFirst Bank’s expansion into Memphis, Tennessee, is a strategic move to further establish the bank’s presence in the Tennessee region. The addition of experienced bankers to the team highlights the bank’s commitment to excellence and customer service. Despite a decrease in ROI, ServisFirst Bancshares Inc continues to focus on long-term value creation and reward its shareholders with a quarterly dividend. As the bank expands its footprint, it remains dedicated to providing superior financial solutions to its clients.
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