NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) has assigned a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and short-term rating of K2 to ServisFirst Bancshares, Inc. (NASDAQ: SFBS) (“ServisFirst” or “the Company”), a bank holding company headquartered in Birmingham, Alabama. In addition, KBRA has assigned a senior deposit rating of A- and short-term rating of K2 to ServisFirst Bank (“the Bank”). The outlook on all ratings is stable.
|ServisFirst Bancshares, Inc.||Senior Unsecured Debt||BBB+||Stable|
|RSSD ID: 3635319||Subordinated Debt||BBB||Stable|
|ServisFirst Bank||Senior Deposit||A-||Stable|
|FDIC Certificate #: 57993||Short-Term||K2|
The ratings are supported by SFBS’s sound financial fundamentals as indicated by the Company’s established market share, experienced management team, exceptional cost culture, as well as positive asset quality and earnings metrics. These strengths are balanced by the Company’s high concentrations in commercial and industrial (C&I) and commercial real estate (CRE) lending, compact geographic footprint, and elevated nonperforming assets during the crisis years. Concerns are alleviated by management’s strong track record in C&I lending and relatively favorable asset quality during the financial crisis. The bulk of CRE loans are owner-occupied by C&I customers.
The ratings are based on KBRA’s Global Bank and Bank Holding Company Rating Methodology published on January 28, 2015.
To view the report, please use the following link: www.krollbondratings.com/show_report/2134
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About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).