8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 2, 2023

ServisFirst Bancshares, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-36452	26-0734029
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2500 Woodcrest Place, Birmingham, Alabama	35209
(Address of principal executive offices)	(Zip Code)

(205) 949-0302

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of exchange on which registered
Common	SFBS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

(b) On November 1, 2023, William “Bud” Foshee, Chief Financial Officer of ServisFirst Bancshares, Inc. (“ServisFirst”), notified the Board of Directors (“Board”) of ServisFirst that he will retire from the position of Chief Financial Officer effective after the filing of the Form 10-K in February of 2024.  The Board thanks Mr. Foshee for his 19 years of service, the leadership that he has provided, and the integrity that he has exemplified.

(c) The Board appointed Kirk Pressley to succeed Mr. Foshee as Chief Financial Officer following Mr. Foshee’s retirement.  Mr. Presley, 57, joined ServisFirst Bank as Executive Vice President of Strategic Planning in July of 2023. Prior to joining ServisFirst Bank, Mr. Pressley started his career as an external auditor focused on financial institutions for two large international public accounting firms. Pressley then served as the Controller for BBVA USA Bancshares, previously BBVA Compass Bancshares, from 2003 to 2015. He most recently held the position of Senior Executive Vice President and CFO of BBVA USA, Houston, Texas, from 2015 to 2021.

Mr. Pressley does not have any family relationships with any of ServisFirst’s directors or executive officers. Mr. Pressley does not have any arrangement or understanding with any person pursuant to which he was named or selected to be an officer of ServisFirst or ServisFirst Bank. Mr. Pressley is not a party to any transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K.. He is a graduate of Auburn University with a Bachelor of Science in Business Administration degree, Accounting, and has spent his 35-year career in the Birmingham, Alabama, and Houston, Texas areas.  No changes have been made to Mr. Pressley’s compensation as a result of being named successor to the Chief Financial Officer position.

Item 9.01 – Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Not applicable

(d) Exhibits. The following exhibits are included with this Current Report on Form 8-K:

Exhibit No.	Description
99.1	Press Release dated November 2, 2023.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	SERVISFIRST BANCSHARES, INC.
		/s/ Thomas A. Broughton, III
Dated: November 2, 2023	By:	Thomas A. Broughton, III
		Chairman, President, & Chief Executive Officer

EX-99.1

Exhibit 99.1

ServisFirst Bank Announces Retirement of Founding Chief Financial Officer, William “Bud” Foshee

Kirk Pressley Appointed as CFO Successor

BIRMINGHAM, Ala.--(BUSINESS WIRE)--November 2, 2023--ServisFirst Bank, a subsidiary of ServisFirst Bancshares (NYSE:SFBS), announces the retirement of founding Chief Financial Officer, William “Bud” Foshee, effective after the filing of the Form 10-K in February of 2024. Kirk Pressley has been appointed as successor to the role of CFO.

“Bud has guided us through our formation and initial stock sale of $35 million to our current standing as a $16 billion company with an unprecedented record of financial success over the past 19 years. ServisFirst is recognized as one of the premier banks in the Southeast and Bud’s record as CFO is unparalleled,” states Tom Broughton, ServisFirst Bank Chairman, President and CEO. “Our industry-leading efficiency ratio is something Bud has strongly influenced with his relentless effort to reduce expenses. Bud’s integrity has been unflinching, and he has provided a strong foundation for our future.”

Bud Foshee leaves in place two longtime finance leaders, Edison “Ed” Woodie, Senior Vice President, Controller, and Davis Mange, Senior Vice President, Accounting & Investor Relations who will be part of the finance team. In addition, Mark Tarnakow recently joined the ServisFirst finance team as Vice President, Strategic Projects Director for Finance and Accounting.

“It has been an honor to lead ServisFirst from formation to an industry leader and it is always rewarding to be part of a leadership team of a great company,” said Bud Foshee.

Kirk Pressley joined ServisFirst Bancshares in July of 2023 and is the former Chief Financial Officer of BBVA Compass Bancshares. Pressley is a graduate of Auburn University with a Bachelor of Science in Business Administration degree, Accounting, and has spent his 35-year career in Birmingham, Alabama, and Houston, Texas areas. Prior to joining ServisFirst, Pressley started his career as an external auditor focused on financial institutions for two large international public accounting firms.

“We anticipate a seamless transition from Bud to Kirk, given Kirk’s extensive experience in larger organizations. In addition, Kirk has worked with a number of ServisFirst Officers, which makes this a bit of homecoming as well,” states Tom Broughton, ServisFirst Bank Chairman, President and CEO. “We will continue to operate as a community bank with the capabilities of our regional bank competitors, and we feel confident Kirk will help us continue to achieve these goals.”

For more information regarding ServisFirst Bank’s announcement, please contact Krista Conlin at Krista@KCProjects.net. For more about ServisFirst Bank, please visit www.servisfirstbank.com.

ABOUT SERVISFIRST BANK
ServisFirst Bank is a full-service commercial bank focused on commercial banking, correspondent banking, treasury management, private banking and the professional consumer market, emphasizing competitive products, state-of-the-art technology and a focus on quality service. Recently, the Bank announced that its assets exceed $16 billion. The Bank offers sophisticated treasury management products, Internet banking, home mortgage lending, remote deposit express banking, and highly competitive rates.

ServisFirst Bank was formed in May 2005, and has offices in Atlanta, Birmingham, Charleston, Charlotte, Dothan, Huntsville, Mobile, Montgomery, Nashville, Northwest Florida, Virginia Beach, West Central Florida, and Western North Carolina. In April 2015, and annually thereafter, ServisFirst Bank has earned investment- grade ratings and a stable outlook from Kroll Bond Rating Agency (KBRA), which measures companies’ financial fundamentals. ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained at www.servisfirstbancshares.com.

Contacts

Krista Conlin, Krista@KCProjects.net

XML

Document and Entity Information	Nov. 02, 2023
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 02, 2023
Entity Registrant Name	ServisFirst Bancshares, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-36452
Entity Tax Identification Number	26-0734029
Entity Address, Address Line One	2500 Woodcrest Place
Entity Address, City or Town	Birmingham
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	35209
City Area Code	205
Local Phone Number	949-0302
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0001430723
Title of 12(b) Security	Common
Trading Symbol	SFBS
Security Exchange Name	NYSE