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Kroll affirms ServisFirst Bancshares

Kroll Bond Rating Agency affirmed the senior unsecured debt ratingof BBB+, subordinated debt rating of BBB and short-term debt rating of K2 for Birmingham,Ala.-based ServisFirst BancsharesInc.

The ratings outlook is stable.

The agency also affirmed the deposit rating of A- and short-termdeposit rating of K2 and assigned senior unsecured debt and short-term debt ratingsof A- and K2, respectively, for the company's unit ServisFirst Bank.

The agency said the ratings reflect the company's establishedmarket share in key geographies, experienced management team, exceptional cost structure,solid asset quality and improving capital ratios, along with exceptional cost culture.The company's strengths are counterbalanced by the bank's high concentrations incommercial and industrial lending; large exposure to real estate lending; elevatednonperforming assets during the crisis, largely impacted by impaired constructionreal estate loans; and spread reliant income.