RankingBanking Web Pageturn - Flipbook - Page 17
15
ServisFirst Consistently Beats Peers On Profitability
Source: Piper Sandler & Co., using S&P Global Market Intelligence data
Core return on average equity vs. peers, $5 billion to $50 billion in assets, in RankingBanking analyses
21.25%
20.98%
19.19%
19.47%
18.58%
15.44%
10.79%
11.87%
10.37%
8.14%
2018
ServisFirst ROAE
2019
2020
2021
2022
Peer ROAE
and they’re empowered to make credit decisions
solved the problem in five minutes. The daughter
up to certain loan limits. “We have lending author-
had exceeded her credit limit and temporarily got
ity, not lending committees,” Rushing says. When a
a higher limit, thanks to dad.
customer applies for a loan, “it’s sometimes hours,
Not everyone wants to work for a bank where
certainly not more than a few days at most, when
they’re supposed to respond to customers on a
we get back to [customers] about how we can
Saturday. “If you don’t want to work hard, it’s
structure the terms.”
not a place for you,” says Brad Milsaps, who
To meet that standard, bankers are expected to
until recently covered the stock as an analyst at
be available to customers throughout the week. A
Piper Sandler. But when asked about whether
few years ago, Karen Grahn, the senior vice presi-
bankers needed to work hard, several ServisFirst
dent who heads ServisFirst’s credit card division,
executives clarified that dedication. Nic Bala-
was attending an Auburn University football game
nis, executive vice president, says he spends time
on a Saturday. She got a call from the CEO of
with his family. But he doesn’t send automated
a correspondent bank customer, saying his daugh-
out-of-office emails to go golfing on Friday after-
ter was traveling in Europe and her credit card
noon. McBride says his phone rings seven days per
wouldn’t work. Grahn had her laptop with her and
week. “I’ve had several [deals] where we do work