Chairman, President & Chief Executive Officer, Servisfirst Bancshares
Search every verified Thomas Broughton interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In a September 2024 interview, Broughton discussed ServisFirst Bank's second quarter earnings and attributed loan growth to the Southeast United States, describing the region as the bank's footprint and a "big driver." He stated that the bank is "a business bank primarily" and that businesses in its market are "growing and doing quite well." Broughton noted that the bank's net interest margin expanded for the first time in the quarter and said he expects margins to "drive higher for the next six quarters." Broughton said the bank's credit losses were "down from last year," reporting that losses were approximately eight basis points in the current year compared to 12 basis points the prior year. He described losses as "very moderate." Regarding consumer behavior, Broughton stated that customers serving lower-income consumers are "trading down," citing furniture sales as an example, but added that "the consumer seems very resilient."
“The driver is the Southeast United States. Our footprint is the Southeast United States. We have the integration and the market is seeing positive results from that and that's a big driver for us.”
“We have a relatively small residential mortgage portfolio. What we're seeing is the businesses are doing well. We're a business bank primarily. The businesses are growing and doing quite well.”
“Our margins are getting better quarter over quarter and we expect them to drive higher for the next six quarters.”
“This is the first quarter where we see margin expansion. Our margins are getting better almost on a monthly basis. We're seeing a much more positive result this year than last year.”
“We primarily serve business customers as well as some developers, primarily multifamily developers. What we have seen is, yes, our customers that serve the lower-income consumers saying they are trading down. For example, furniture sales. People who specialize in manufacturing consumer furniture at the lower end are se...”
“Our losses are down from last year. Our losses were very moderate last year, below average. If I had to tell you, our loan officers over the last 18 or 19 years or basis points, last year they were 12 basis points and this year they're about eight basis points. They are very moderate.”
Tom Broughton, Chairman, President, and CEO of ServisFirst Bank, discusses his second quarter earnings beat and current ...
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