ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Q2 2019 Earnings Conference Call - Final Transcript

Jul 15, 2019 • 05:15 pm ET


ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Q2 2019 Earnings Conference Call - Final Transcript


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Good day, and welcome to the ServisFirst Bancshares, Inc. Second Quarter Earnings Conference Call. [Operator Instructions]

I would like to now turn the conference over to Davis Mange. Please go ahead.

Davis Mange

Good afternoon, and welcome to our second quarter earnings call. We will have Tom Broughton, our CEO; and Bud Foshee, our CFO, covering some highlights from the quarter, and we will then take your questions. I will now cover our forward-looking statements disclosure and then we can get started.

Some of the discussion in today's earnings call may include forward-looking statements subject to assumptions, risks, and uncertainties. Actual results may differ from any projections shared today due to factors described in our most recent 10-K and 10-Q filings. Forward-looking statements speak only as of the date they are made and ServisFirst assumes no duty to update them.

With that, I will turn the call over to Tom.

Thomas Ashford Broughton

Thank you, Davis and good afternoon and welcome to our call. If you are new to our call, you will find that we don't read the press release that we sent out earlier. We only cover other material, we assume everybody can read and we won't review any of that material. So to cover the quarter. Pretty darn good quarter. All in all, it was eventful in terms of -- of staffing. We added some significant new bankers in the quarter. We added four in Nashville. We added four in Sarasota Naples market and two in Birmingham and one in Mobile. Our total number of producers is up from 133 to 136 in the quarter that included two retirements and six departed.

We continue to focus on improving our loan deposit portfolio sizes of our commercial bankers and we think, we are the bank of choice for many -- for many good commercial bankers. We've never used a head hunter. We find the people directly or they find us and we don't -- we don't -- just never have used a recruiter. So we think for several reasons we are the bank of choice for commercial bankers. So if you're, if you're a commercial banker and thinking about joining us and you're listening to the call there's got a few things that I think are pertinent to say. First of all, we are a customer-centric bank. We focus on service above all else that is important to our bankers. Also I think, we are unique and that we are a founder-led company and I have the unique ability to fight bureaucracy that something that commercial bankers detest and our bankers, they know if they call me and I can respond and help them in any way they need help including to cut through some red tape.

And we certainly as a founder-led company, we think we can respond to changing market conditions more quickly than many of our competitors. We're also are very responsive on credit needs in a very timely manner. Sometimes the answer is no. But we can make a decision