ServisFirst Bancshares Reshuffles Executive Team; Announces Q3 Earnings Call

ServisFirst Bancshares, Inc. (NYSE: SFBS), a Delaware corporation, made significant announcements in its recent 8-K SEC Filing today. The report highlighted changes within the top leadership and revealed operational results for the quarter ending September 30, 2024.

In the document, it was disclosed that Kirk Pressley, who held the positions of Chief Financial Officer and Executive Vice President, tendered his resignation effective October 31, 2024. To fill the impending vacancy, the Board of Directors appointed Ed Woodie as the interim Chief Financial Officer, effective the same date. Woodie, 57, currently serving as Senior Vice President and Controller at ServisFirst, brings over 15 years of experience at the bank.

Notable in the filing was the absence of any familial relationships between Woodie and ServisFirst’s current directors or executives, indicating a neutral appointment process. Additionally, there have been no undisclosed agreements or arrangements in his selection as an officer at the institution.

Moreover, ServisFirst mentioned that on October 21, 2024, they will hold a call to review the third-quarter earnings for the fiscal year. The associated supplemental data table is included as Exhibit 99.2 and will be assimilated into the review.

Regarding forward-looking statements, ServisFirst Bancshares, Inc. underscored the risks that accompany such statements, pointing out factors such as economic conditions, regulatory changes, and competition that could sway actual results. The company emphasized caution in relying too heavily on forward-looking statements due to the inherent unpredictability tied to numerous external factors.

The document concluded with the absence of financial statements or exhibits under Item 9.01, with the two exhibits referenced including a press release announcing the results of the third quarter of 2024, and a supplemental data table that will be discussed in the upcoming earnings call.

The firm, in compliance with regulatory disclosures, affirmed the veracity of the report by having it signed by Thomas A. Broughton, III, serving as the Chairman, President, and Chief Executive Officer of ServisFirst Bancshares, Inc. The boarding of Ed Woodie as the new interim Chief Financial Officer reflects the company’s strategic approach to maintaining operational continuity amidst key executive changes.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ServisFirst Bancshares’s 8K filing here.

ServisFirst Bancshares Company Profile

ServisFirst Bancshares, Inc operates as the bank holding company for ServisFirst Bank that provides various banking services to individual and corporate customers. It accepts demand, time, savings, and other deposits; checking, money market, and IRA accounts; and certificates of deposit. The company's loan products include commercial lending products, including seasonal, bridge, and term loans for working capital, expansion of the business, acquisition of property, and plant and equipment, as well as commercial lines of credit; commercial real estate loans, construction and development loans, and residential real estate loans; and consumer loans, such as home equity loans, vehicle financing, loans secured by deposits, and secured and unsecured personal loans.