Thomas Broughton on credit losses
From ServisFirst Bank CEO on Q2 earnings, deposit growth, and credit demand · · CNBC Television
“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.”
On , Thomas Broughton, Chairman, President & Chief Executive Officer at SERVISFIRST BANCSHARES INC, spoke about credit losses during ServisFirst Bank CEO on Q2 earnings, deposit growth, and credit demand on CNBC Television.
About Thomas Broughton
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."