ServisFirst Bancshares, Inc. (SFBS) CEO Tom Broughton on Q1 2021 Results - Earnings Call Transcript

ServisFirst Bancshares, Inc. (NYSE:SFBS) Q1 2021 Earnings Conference Call April 19, 2021 5:15 PM ET

Company Participants

Ed Woodie - Controller
Tom Broughton - Chief Executive Officer
Henry Abbott - Chief Credit Officer
Bud Foshee - Chief Financial Officer

Conference Call Participants

Graham Dick - Piper Sandler
Will Curtiss - Hovde Group
Kevin Fitzsimmons - D.A. Davidson
William Wallace - Raymond James

Operator

Good afternoon and welcome to the ServisFirst Bancshares Inc. First Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Ed Woodie, Controller. Please go ahead.

Ed Woodie

Good afternoon and welcome to our first quarter earnings call. We will have Tom Broughton, our CEO; Bud Foshee, our CFO; and Henry Abbott, our Chief Credit Officer, covering some highlights from the quarter and then we will take your questions.

Some of the discussion during our call may include forward-looking statements. Actual results may differ from any projections shared today due to factors described in our most recent 10-K and 10-Q filings. Forward-looking statements speak only as of the date they are made and ServisFirst assumes no duty to update them.

With that, I’ll turn the call over to Tom.

Tom Broughton

Good afternoon. We are very pleased with our quarter and we are glad you could join us on our call today. We do continue to see rapid improvement in the Southeastern United States economy. Supply chains are still not rebuilt, so line utilization has not improved during the first quarter and I think we’ve seen inflation and lot of our customers are reporting large inflation in their material cost and so that should lead to line utilization