ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Q3 2020 Earnings Conference Call - Final Transcript

Oct 19, 2020 • 05:15 pm ET

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ServisFirst Bancshares, Inc. (NASDAQ:SFBS) Q3 2020 Earnings Conference Call - Final Transcript

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Presentation
Executive
William M. Foshee

in our previous calls, so total [Indecipherable] for non-interest expense have been adjusted for any PPP expenses. The FASB 91 deferral related to PPP loan originations and/or expenses. So, for the first quarter, that total was $27.2 million; the second quarter, $26.4 million; and third quarter, $26.2 million. Capital of the bank's Tier 1 leverage ratio was 8.78% at the end of September. Also earnings retention, we're paying $0.175 a quarter dividend, that our earnings retention for the quarter was 78.2% and year-to-date was 76.2%. Taxes for the third quarter -- the rate was 20.3%; for third quarter of 2019, it was 20.2%. Year-to-date 2020, that rate is 20.1%, and year-to-date 2019 the rate was 20.2%.

That concludes my comments and I'll turn it back over to Tom.

Executive
Thomas Ashford Broughton III

Thank you, Bud, and thank both of you for the reports. As you can see we had really solid financial performance in the quarter and also very strong performance from a credit quality standpoint where there were a lot of questions early on in the pandemic about loan deferrals. And this will put that question to bed for us. We won't have to talk about loan deferrals again.

So, we'll be happy to answer any questions you might have starting right now. Thank you.