ServisFirst Bancshares, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net income available to common stockholders of $14,917,000 or $0.58 per diluted share compared to net income available to common stockholders of $11,752,000 or $0.53 per diluted share a year ago. Total interest income was $38,163,000 compared to $33,725,000 a year ago. Net interest income was $34,460,000 compared to $30,115,000 a year ago. Net interest income after provision for losses was $31,701,000 compared to $27,759,000 a year ago. Income before income tax was $21,668,000 compared to $17,832,000 a year ago. Net income was $15,032,000 compared to $11,868,000 a year ago. Return on average assets was 1.47% compared to 1.36% a year ago. Return on average common stockholders' equity was 16.39% compared to 18.86% a year ago. The increase in net interest income on a linked quarter basis is attributable to a $132.3 million increase in average loans outstanding, a $71.9 million increase in average non-interest-bearing deposits and a $14.1 million increase in average stockholders' equity, all resulting in a positive mix change in the balance sheet. The lower net interest margin is driven in part by increasing balances in federal funds at other banks and higher balances at the Federal Reserve, which earn a nominal interest rate.

For the year, the company reported net income available to common stockholders of $51,946,000 or $2.09 per diluted share compared to net income available to common stockholders of $41,201,000 or $1.90 per diluted share a year ago. Total interest income was $144,725,000 compared to $126,081,000 a year ago. Net interest income was $130,606,000 compared to $112,462,000 a year ago. Net interest income after provision for losses was $120,347,000 compared to $99,454,000 a year ago. Income before income tax was $73,978,000 compared to $61,975,000 a year ago. Net income was $52,377,000 compared to $41,617,000 a year ago. Diluted earnings per share included the impact of a 14% increase in average diluted shares outstanding. Return on average assets was 1.39% compared to 1.31% a year ago. Return on average common stockholders' equity was 16.23% compared to 18.30% a year ago. Core net income available to common stockholders was $53,558,000 or $2.16 per diluted share compared to income of $41,201,000 or $1.90 per diluted share a year ago. Core return on average assets was 1.44% compared to 1.31% a year ago. Core return on average common stockholders equity was 16.74% compared to 18.30% a year ago. Core net income was $53,989,000 compared to $41,617,000 a year ago.