ServisFirst Bank Review

Overview

ServisFirst Bank was founded in 2005 with headquarters in Birmingham, Alabama. ServisFirst Bank manages $7 billion in assets and $6 billion in deposits, classifying it as a large bank. ServisFirst Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4.2 out of 5 stars, ServisFirst Bank is a solid pick to be your bank. ServisFirst Bank offers an array banking products, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate compared to the average savings account. Institutions that offer no-fee checking as well as a high savings APY are your best option for returning the highest income from your deposits while having convenient access to your funds.

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

ServisFirst Bank has a savings rate of 0.40%, which is poor compared to other U.S. banks. ServisFirst Bank's one-year CD has a rate of 1.51% and the five-year CD has a rate of 2.79%, while its highest-yielding money market account earns at a rate of 0.25%. Given ServisFirst Bank's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How ServisFirst Bank's Savings Rates Compare

There is insufficient data on ServisFirst Bank's fees to provide a full SmartAsset rating.

ServisFirst Bank is a brick-and-mortar bank, with 20 total bank locations in Alabama, Florida, Georgia, South Carolina and Tennessee. It also offers access to mobile and web apps for straightforward access and banking on the go. ServisFirst Bank's online and mobile banking platforms receive mediocre feedback from customers. The ServisFirst Bank mobile app scored a 2.8 out of 5 (out of 17 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize ServisFirst Bank's app to manage your finances by checking current statements, sending and receiving money and reaching support representatives. ServisFirst Bank receives an excellent consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

ServisFirst Bank ranks as a large bank with assets totaling $7 billion and $6 billion in deposits. ServisFirst Bank's Texas Ratio is 2.41%, denoting that ServisFirst Bank is in superb financial shape and far from failure. Additionally, ServisFirst Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Products Offered

ServisFirst Bank has several deposit products including savings accounts, checking accounts and money market accounts to give you many options to manage your money. ServisFirst Bank does not have the best savings rate, which means you should think about looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. ServisFirst Bank's CD rates are fair in comparison to the average U.S. bank.

Find a ServisFirst Bank Near Me

ServisFirst Bank has 20 physical locations across the U.S.