UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission file number 001-36452 SERVISFIRST BANCSHARES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 26-0734029 (State or ...

The Zacks Savings and Loan industry is gaining from falling interest rates and easing lending standards. With relatively lower rates, funding costs is gradually stabilizing, boosting net interest income (NII) and net interest margin (NIM). The digitization of operations will also support industry players. Despite several credit quality metrics creeping above the pre-pandemic levels, lower rates will likely aid repayment capacity. Hence, industry players like ServisFirst Bancshares Inc. (SFBS) , WSFS Financi ...

Core Viewpoint - ServisFirst Bancshares, Inc. (SFBS) is showing potential for bullish momentum due to a recent technical indicator known as a "golden cross" [1] Technical Analysis - SFBS's 50-day simple moving average has recently crossed above its 200-day moving average, indicating a potential bullish breakout [1] - A golden cross typically signifies a trend reversal from a downtrend to an upward trajectory, consisting of three stages: a downtrend, the crossover of moving averages, and an upward price movement [2] Performance Metrics - Over the last four weeks, SFBS has increased by 10.1%, suggesting strong upward momentum [3] - The company currently holds a 1 (Strong Buy) rating on the Zacks Rank, indicating positive investor sentiment [3] Earnings Expectations - There have been two upward revisions in earnings expectations for the current quarter, with no downward revisions, further supporting the bullish outlook [3] - The Zacks Consensus Estimate for earnings has also increased, reinforcing confidence in the company's growth potential [3][4] Investment Outlook - With favorable earnings estimate revisions and a key technical breakout, SFBS is positioned for potential gains in the near future [4]

Group 1: Market Overview - Wall Street sold technology stocks as investors take profits amid increasing market volatility, with the Nasdaq up over 90% in the past three years [1] - The bullish market backdrop remains intact, with strong earnings growth projected for 2026 and expectations of interest rate cuts by the U.S. Federal Reserve [2] Group 2: Investment Strategy - Investors can utilize a Zacks screen to identify top Zacks Rank 1 (Strong Buy) stocks from over 200 highly-ranked companies [3] - Zacks Rank 1 stocks have historically outperformed the market, averaging an annual return of approximately 24.4% since 1988 [6] Group 3: Stock Screening Parameters - The screening parameters include a Zacks Rank of 1, positive current quarter estimate revisions, and top broker rating changes over the last four weeks [7][8] Group 4: Featured Stock - ServisFirst Bancshares, Inc. (SFBS) - ServisFirst Bancshares, Inc. is highlighted as a top-ranked finance stock, focusing on business and personal banking services across multiple states [9][10] - The company is projected to grow revenue by 20% in 2026 and 9% in the following year, boosting adjusted earnings by 22% and 10%, respectively [12] - SFBS shares have increased by 370% over the past decade, outperforming the Finance sector's 165%, and are on the verge of breaking out of a trading range [13] - Despite its strong performance, SFBS trades at a 25% discount to its sector and 20% below its own 10-year median, with a dividend yield of 1.8% [14]

Core Viewpoint - ServisFirst Bancshares (SFBS) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][4]. Earnings Estimates and Ratings - The Zacks rating system is primarily driven by changes in a company's earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [2]. - The recent upgrade for ServisFirst reflects an improvement in its earnings outlook, which is expected to positively impact its stock price [4][6]. Impact of Earnings Revisions - There is a strong correlation between changes in earnings estimates and near-term stock price movements, making earnings estimate revisions a critical factor for investment decisions [5][7]. - ServisFirst is projected to earn $6.40 per share for the fiscal year ending December 2026, with a 4.9% increase in the Zacks Consensus Estimate over the past three months [9]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - ServisFirst's upgrade to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating strong potential for market-beating returns in the near term [10][11].

Core Viewpoint - ServisFirst Bancshares reported strong fourth-quarter results, leading to a significant increase in stock price by over 14% [1] Group 1: Financial Performance - Deposits increased by 5% year over year to $675.6 million, while loans rose by 12% to $384.9 million [2] - The net interest margin improved by 42 basis points to 3.38% due to declining interest rates [2] - Earnings per share surged by 33% to $1.58 [2] Group 2: Market Metrics - Market capitalization stands at $4.2 billion [3] - Stock price ranged from $82.21 to $87.98 during the trading day, with a 52-week range of $66.48 to $93.90 [3] - Average trading volume was 265,000, with a current volume of 713,000 [3] Group 3: Efficiency and Returns - The efficiency ratio improved to 29% from 36% in the previous year, indicating better management of non-interest expenses relative to revenue [3] - Return on average common stockholders' equity increased to 18.9% from 16.3% year-over-year [5] - The bank raised its dividend by 13% to $0.38 per share, rewarding shareholders [5] Group 4: Management Focus - The CFO emphasized a focus on net interest margin expansion and disciplined expense control [4]

Group 1 - The focus is on producing objective, data-driven research primarily about small- to mid-cap companies, which are often overlooked by many investors [1] - Occasionally, large-cap companies are analyzed to provide a broader perspective on the equity markets [1] Group 2 - There is a beneficial long position in the shares of SFBS, indicating a vested interest in the company's performance [2] - The article expresses personal opinions and is not influenced by compensation from any company mentioned [2]

Core Insights - U.S. stocks experienced an upward trend, with the Dow Jones increasing by approximately 350 points on Wednesday [1] Company Performance - Progress Software Corp reported fourth-quarter adjusted EPS of $1.51, surpassing the Street estimate of $1.31, and quarterly revenue of $252.67 million, slightly below the consensus estimate of $252.86 million [2] - Progress Software shares surged by 20.5% to $46.50 following the earnings report and positive first-quarter guidance [2] Other Notable Stock Movements - Rambus Inc saw a gain of 15.1%, reaching $126.67 [3] - ServisFirst Bancshares Inc increased by 13.3% to $86.45 after reporting better-than-expected fourth-quarter earnings [3] - Lucid Group Inc rose by 12.9% to $10.97 [3] - Red Cat Holdings Inc jumped 11.4% to $16.05 [3] - American Resources Corp surged 11% to $3.88 [3] - Zura Bio Ltd increased by 10.5% to $5.54, with a new CEO appointed [3] - SES AI Corp gained 10.5% to $2.42 [3] - Lexicon Pharmaceuticals Inc shares rose 10.3% to $1.44 after a successful FDA meeting for Pilavapadin [3] - Comstock Resources Inc increased by 9.8% to $24.49 [3] - Tronox Holdings PLC surged 9.5% to $6.06, with an analyst maintaining a Buy rating and raising the price target [3] - Teledyne Technologies Inc gained 9.2% to $618.47 after reporting better-than-expected quarterly results [3] - Intel Corp increased by 9.1% to $52.97 [3] - Arm Holdings PLC surged 9% to $116.81 after an upgrade from Neutral to Positive [3] - Nuscale Power Corp gained 8.1% to $20.50 [3] - Quantumscape Corp increased by 8% to $11.05 [3] - Moderna Inc rose 6.4% to $45.76, sharing positive data from a study on mRNA-based therapy [3]

Core Insights - ServisFirst Bancshares, Inc. (SFBS) has reported significant financial growth for the fourth quarter of 2025, with notable increases in earnings and revenue [1] Financial Performance - The earnings per share (EPS) for SFBS was $1.58, exceeding the expected $1.38, representing a 33% increase from the same period in 2024 and a 32% rise from the third quarter of 2025 [2][6] - Annual diluted EPS reached $5.06, indicating a 22% increase compared to 2024, while adjusted diluted EPS rose by 26% to $5.25 [2] - Revenue was approximately $162.2 million, surpassing the estimated $154.7 million, with a price-to-sales ratio of about 4.17 [3][6] Efficiency and Margins - The net interest margin improved to 3.38%, which is 42 basis points higher than the fourth quarter of 2024 and 29 basis points above the third quarter of 2025 [4] - The efficiency ratio decreased significantly to 29%, down from 36% in the fourth quarter of 2024 and 35% in the third quarter of 2025 [4][6] Financial Ratios - The company has a moderate debt-to-equity ratio of approximately 0.87, but faces potential liquidity concerns with a current ratio of around 0.11 [5] - The earnings yield is about 6.12%, providing insight into the return on investment [5] - The cost of interest-bearing deposits decreased by 62 basis points from the fourth quarter of 2024, now standing at 3.01% [5]

Financial Data and Key Metrics Changes - The company reported earnings per diluted share of $1.58 for the fourth quarter, representing a 32% increase from the third quarter of 2025 and a 33% increase from the fourth quarter of 2024 [9] - Full year earnings per share was $5.25 on an operating basis and $5.06 on a GAAP basis, with net income available to common shareholders at $86.4 million for the quarter and $276.5 million for the year [9] - The return on average assets was 1.62% for the year, and the return on common equity was nearly 17% [9] - The tangible book value grew 4% to $33.62 per share [9] Business Line Data and Key Metrics Changes - Loan growth for the quarter was annualized at 12%, with a significant increase in the loan pipeline, which rose by 11% quarter-over-quarter [3] - The C&I book experienced nearly 10% growth during the year, marking the highest growth rate in that segment in several years [7] - Non-interest revenue saw a 26% growth from the full year 2024 to 2025, driven by increased service charges [12] Market Data and Key Metrics Changes - The company has expanded its correspondent banking relationships to 388, including 145 that settle at the Federal Reserve Bank [5] - The new Texas banking team is expected to drive growth, with a focus on C&I lending rather than commercial real estate [49] Company Strategy and Development Direction - The company is focused on organic growth, particularly through the expansion in Texas, which is expected to contribute significantly to loan balances and deposits in 2026 [49] - The efficiency ratio is expected to remain in the low 30s as the Texas team builds its book of business [51] - The company is actively managing its loan portfolio and has a disciplined approach to loan pricing, which has contributed to margin expansion [10][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about loan demand, particularly in the C&I sector, indicating a positive trend compared to previous quarters [24] - The company is prepared for potential economic fluctuations and is focused on maintaining strong liquidity levels without reliance on brokered deposits [15] - Management noted that while there are challenges in hiring due to competition, they are committed to bringing in quality talent to support growth [60] Other Important Information - The company paid down $30 million of subordinated debt at a cost of 4.5% [14] - The company has no brokered deposits or FHLB debt, maintaining a strong liquidity position [15] Q&A Session Summary Question: Trends in loan payoffs and expectations for loan growth - Management noted that projected payoffs have decreased significantly this quarter, leading to a more optimistic outlook for loan growth [21] Question: Economic backdrop and commercial loan demand - Management rated current commercial loan demand as slightly better than before, indicating a positive trend in C&I growth [24] Question: Margin expectations and fee collection impact - Management indicated that the December margin is a good starting point for 2026, with expectations for continued margin expansion [30] Question: Charge-offs and non-performing loans - The charge-off was related to a healthcare asset, which was anticipated and reserved for, and management is actively working on multifamily assets [36] Question: Tax rate expectations for 2026 - Management plans to continue leveraging tax credits, particularly around solar credits, to manage the tax rate going forward [43] Question: Growth expectations for the Texas team - The Texas team's budgeted growth for 2026 is higher than any other region, with expectations for significant contributions to loan balances [49] Question: Overall expense growth for 2026 - Management anticipates high single-digit expense growth for 2026, primarily driven by new hires that will generate revenue [57]