ServisFirst Bancshares, Inc. (NYSE:SFBS) Q4 2023 Earnings Call Transcript

Bud Foshee: It’s about $7 million a month in paydowns.

David Bishop: $7 million, okay.

Kirk Pressley: And another $350 million or so in maturities.

David Bishop: Got it. And originations this quarter, I missed it during the preamble. What was the new origination yields on loans?

Bud Foshee: Origination rate was 8.34% for the quarter.

David Bishop: Got it. And then more of a housekeeping item. I know there’s a lot of noise in the tax number this quarter. Just curious what we should model for a good tax rate moving forward?

Kirk Pressley: About 17.5%.

David Bishop: Perfect. And then, Tom, you mentioned the new hire in Memphis, obviously, a good start there. Just curious, if you sort of have some numbers in the mine, how big do you think that market could go to either on the loan deposit side or both?

Tom Broughton: We don’t really go into any market if we don’t think you can achieve $300 million minimum in a three year period of time in loans and deposits. So this would certainly fit in that as well. And these are Joel’s team. They’re going to be relationship bankers. They’re not going to be transactional bankers, and that’s what we prefer to build on is relationship bankers there. So we’ve already — bankers are coming from a number of different banks. So we get a little cross-pollination there of people. So we’re optimistic that we can be successful in this.

David Bishop: Got it. And yes, Bud, congratulations on the retirement.

Bud Foshee: Thank you.

Tom Broughton: Thank you, everybody for listening on the call. I don’t think you have any other questions, but appreciate everybody for tuning in today. Have a great evening.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time. Thank you for your participation.