ServisFirst Bancshares : Investor Presentation

ServisFirst Bancshares, Inc.

NYSE: SFBS

November 2023

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Forward-Looking Statements

• Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. The words "believe," "expect," "anticipate," "project," "plan," "intend," "will," "could," "would," "might" and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst Bancshares, Inc., are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.'s senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including, but not limited to: the global health and economic crisis precipitated by the COVID-19 outbreak; general economic conditions, especially in the credit markets and in the Southeast; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships, including in light of the continuing high rate of domestic inflation; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes in our loan portfolio and the deposit base; economic crisis and associated credit issues in industries most impacted by the COVID-19 outbreak; possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, economic measures intended to curb rising inflation; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and the value of collateral; the effect of natural disasters, such as hurricanes and tornados, in our geographic markets; and increased competition from both banks and non-bank financial institutions. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to "Cautionary Note Regarding Forward-looking Statements" and "Risk Factors" in our most recent Annual Report on Form 10-K, in our Quarterly Reports on Form 10-Q, and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained herein. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. ServisFirst Bancshares, Inc. assumes no obligation to update or revise any forward-looking statements that are made from time to time.
• Non-GAAPFinancial Measures - This presentation includes non-GAAP financial measures. Information about any such non-GAAP financial measures, including a reconciliation of those measures to GAAP, can be found in the presentation.

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ServisFirst at a Glance

Overview

• Founded in 2005 in Birmingham, AL
• Single bank BHC

High-Performing Metropolitan Commercial Bank

• Net Income for Common CAGR: 22%
• Diluted EPS CAGR: 22%

Our Business Strategy

• Simple business model
• • Loans and deposits are primary drivers, not ancillary services
• Limited branch footprint
• • Technology provides efficiency
• Big bank products and bankers
• • With the style of service and delivery of a community bank
• Core deposit focus coupled with C&I lending emphasis
• Scalable, decentralized business model
• • Regional CEOs drive revenue
• Opportunistic expansion, attractive geographies
• • Teams of the best bankers in each metropolitan market
• Disciplined growth company that sets high standards for performance

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Opportunistic Expansion

• Identify great bankers in attractive markets
• • Focus on people as opposed to places
  • Target minimum of $300 million in assets within 3 years
  • Best bankers in growing markets
• Market strategies
• • Regional CEOs execute simple business model
  • Back office support and risk management infrastructure
  • Non-legalboard of directors comprised of key business people
  • Provide professional banking services to mid-market commercial customers that have been neglected or pushed down to branch personnel by national and other larger regional banks
• Opportunistic future expansion
• • Southern markets, metropolitan focus
  • Draw on expertise of industry contacts

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Milestones

• Founded in May 2005 with initial capital raise of $35 million
• Reached profitability during the fourth quarter of 2005 and have been profitable

• Achieved total asset milestones of $1 billion in 2008, $2 billion in 2011, $3 billion in 2013, $4 billion in 2014, $5 billion in 2015, $6 billion in 2016, $7 billion in 2017, $8 billion in 2018, $9 billion in 2019, $11 billion in 2020, $15 billion in 2021, and $16 billion in 2023

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Consistently Building Shareholder Value

• Tangible Book Value has increased year/year by a minimum of 10% every year since the bank opened in 2005 (17-year CAGR (1) = 17%)
• Stock price has increased by more than 4,100% (2) since initial capital raise in 2005 (17-year CAGR (1) = 24%)
• Dividend has increased each year since going public in 2014

1. 17 - year CAGR = 12/31/2005 - 12/31/22

Our Footprint

ServisFirst Branches (29)

ServisFirst LPO (3)

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Our Business Model

• "Loan making and deposit taking"
• • Traditional commercial banking services
  • No emphasis on non-traditional business lines
• Culture of cost control
• • "Branch light," with $453.2 million average deposits per banking center
  • Leverage technology and centralized infrastructure
  • Headcount focused on production and risk management
  • Key products; including remote deposit capture (67% of checks deposited in 2023 have been via remote deposit capture and mobile deposit), cash management, remote currency manager
  • Outsource selected functions
• C&I and Owner Occupied CRE lending expertise
• • 44% of gross loans
  • Target customers: privately held businesses $2 to $250 million in annual sales, professionals, affluent consumers

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