ServisFirst Bank appoints David Sparacio as CFO

BIRMINGHAM, Ala. - ServisFirst Bancshares (NYSE:SFBS), a banking institution with a market capitalization of $4.92 billion and an impressive one-year stock return of 39.88%, has announced the appointment of David Sparacio as the new Chief Financial Officer of its subsidiary, ServisFirst Bank. Sparacio, with over 30 years of experience in the financial sector, will take on his new role on March 10, 2025, as confirmed by the bank’s recent press release.

Sparacio’s career encompasses a broad array of expertise in corporate finance, accounting, and financial operations, making him a strategic hire for ServisFirst Bank. His responsibilities will include managing financial strategy, regulatory reporting, and accounting operations. His experience is expected to contribute significantly to the bank’s financial initiatives and support its growth trajectory.

Tom Broughton, Chairman, CEO, and President of ServisFirst Bank, expressed confidence in Sparacio’s ability to enhance the bank’s financial strategies and praised his extensive background in finance and operational leadership.

The incoming CFO’s qualifications include a Bachelor of Science in Accounting from the University of New Orleans, an MBA from Loyola University New Orleans, and a Master of Strategic Studies from the U.S. Army War College. Sparacio also has a distinguished military career, serving as a Colonel in the U.S. Army Reserve since 1991, which adds to his leadership credentials.

Ed Woodie, who has been serving as the interim CFO since October 2024, will pass the torch to Sparacio in March. This transition is expected to fortify ServisFirst Bank’s financial position for future success.

ServisFirst Bank is a full-service commercial bank with assets exceeding $17 billion, operating across several states and offering a range of banking services. The bank has consistently received investment-grade ratings from Kroll Bond Rating Agency since April 2015. According to InvestingPro, the bank has maintained dividend payments for 12 consecutive years and achieved a robust revenue growth of 12.07% in the last twelve months. Three analysts have recently revised their earnings upwards for the upcoming period, suggesting positive momentum. For detailed analysis and more insights, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

This leadership change at ServisFirst Bank is based on a press release statement and reflects the bank’s commitment to maintaining robust financial management and strategic growth. The bank currently maintains a "GOOD" Financial Health Score according to InvestingPro’s comprehensive analysis, which evaluates multiple financial metrics including profitability, growth, and cash flow indicators.

In other recent news, ServisFirst Bancshares reported impressive financial results for the fourth quarter of 2024, with earnings per share (EPS) of $1.19, surpassing the expected $1.11. The company also exceeded revenue projections, recording $131.97 million against the forecasted $126.65 million. Piper Sandler analyst Stephen Scouten updated the financial outlook for ServisFirst, raising the stock price target to $96 from $95, while maintaining a Neutral rating. Scouten’s analysis was influenced by ServisFirst’s strong earnings report, which highlighted robust loan growth and an improved net interest margin. Despite these strong results, ServisFirst’s stock experienced a decline of 6.33% in after-hours trading. The company also announced its expansion into new markets, including Memphis and Auburn, and anticipates further margin improvement and market expansion in 2025. Looking forward, ServisFirst projects steady growth, with future EPS estimates set at $1.16 for Q1 2025 and $1.28 for Q2 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.