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BIRMINGHAM, Ala. - ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), has announced the appointment of Jim Harper as Senior Vice President and Chief Credit Officer. Harper, who has over two decades of experience in the banking industry, will be responsible for overseeing the bank’s credit administration and approval processes. According to InvestingPro data, ServisFirst maintains strong profitability metrics with a return on equity of 15% and has consistently paid dividends for 12 consecutive years.
Harper’s extensive background includes a recent role as Executive Vice President, Senior Credit Risk Officer at a corporate banking group. His expertise in credit risk and portfolio management is expected to support ServisFirst Bank’s growth and maintain its prudent lending practices.
The bank’s current Chief Credit Officer, Henry Abbott, is transitioning into a consulting role within the institution. This move will allow Abbott to continue contributing to the credit team while Harper takes the lead.
ServisFirst Bank has established itself as a full-service commercial bank with a focus on various banking services, including commercial and correspondent banking, treasury management, and private banking. With assets exceeding $18 billion, the bank emphasizes competitive products, advanced technology, and quality service.
Founded in May 2005, ServisFirst Bank operates in several states across the Southeastern U.S. and has consistently received investment-grade ratings with a stable outlook from Kroll Bond Rating Agency (KBRA) since April 2015. ServisFirst Bancshares, Inc., the parent company, regularly files reports with the U.S. Securities and Exchange Commission (SEC), which are publicly available.
This leadership change is part of ServisFirst Bank’s continued efforts to strengthen its credit platform as the bank builds upon its strong foundation. The information is based on a press release statement from ServisFirst Bank.
In other recent news, ServisFirst Bancshares reported impressive fourth-quarter 2024 earnings, surpassing analyst expectations. The company achieved earnings per share (EPS) of $1.19, beating the forecast of $1.11, and reported revenue of $131.97 million, exceeding the anticipated $126.65 million. Piper Sandler has raised the stock’s price target to $96, citing strong fourth-quarter performance and robust loan growth dynamics. The analyst, Stephen Scouten, noted that ServisFirst’s ability to sustain a growth trajectory, with projected earnings per share of $4.94 and $5.42 for 2025 and 2026 respectively, contributed to this adjustment.
Additionally, ServisFirst Bancshares has appointed David Sparacio as the new Chief Financial Officer of its subsidiary, ServisFirst Bank, effective March 10, 2025. Sparacio brings over 30 years of experience in the financial sector, and his appointment is expected to strengthen the bank’s financial strategies. The company also announced its expansion into new markets, including Memphis and Auburn, with plans for further selective market expansion in 2025. Despite the positive earnings report, ServisFirst’s stock saw a decline in after-hours trading, which may reflect broader market trends or investor concerns. The company continues to focus on its growth initiatives and strategic financial management.
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