Financial Performance - Net income for Q4 2024 was 65.2million,anincreaseof8.81.19, up 8.2% from Q3 2024 and 54.5% from Q4 2023[5] - Net income available to common stockholders rose to 65.1millioninQ42024,comparedto42.0 million in Q4 2023[20] - The company reported a net income of 227,242thousandfortheyearended2024,anincreaseof9.8206,853 thousand in 2023[26] - Basic earnings per common share for Q4 2024 was 1.19,a54.50.77 in Q4 2023[26] Revenue and Income Sources - Net interest income increased by 8.0million,or281.4 million, or 19.3%, to 8.8millioninQ42024comparedtoQ42023[13]−TotalinterestincomeforQ42024was243,892 thousand, an increase of 6.4% from 229,062thousandinQ42023[26]−Totalnon−interestincomefortheyearended2024was35,056 thousand, up 15.5% from 30,417thousandin2023[26]AssetandLiabilityManagement−Totalassetsreached17.35 billion in Q4 2024, up from 16.13billioninQ42023[20]−Totaldepositsgrewby397 million, or 12% annualized, during Q4 2024[5] - Loans increased to 12.61billioninQ42024,comparedto11.66 billion in Q4 2023[20] - Average total deposits for Q4 2024 were 13.48billion,anincreaseof1.911.4 million, or 19.5%, to 46.9millioninQ42024comparedtoQ42023[14]−Theefficiencyratioimprovedto35.5446,896 thousand, slightly higher than 45,632thousandinQ32024,indicatinga2.86,398 thousand, compared to 5,435thousandinQ32024,reflectinganincreaseincreditlossprovisions[28]StockholderEquityandBookValue−Bookvaluepersharereached29.63, up 12.0% from Q4 2023[5] - Tangible common stockholders' equity was reported at 1.603billionasofDecember31,2024,anincreasefrom1.426 billion in 2023[23] - The company experienced a 12% increase in total stockholders' equity, reaching 1.617billionasofDecember31,2024,upfrom1.440 billion in 2023[25] Market Position and Strategic Initiatives - The company is focused on enhancing its market position through strategic initiatives and product development[31]
ServisFirst Bancshares(SFBS)2025-01-27 21:05