1. The Bank on a Mission to Serve
Birmingham veteran banker Thomas A. in the bank’s eight offices. The bank
Broughton III had a vision to establish a realizes that implementing sophisticated
bank combining the most sophisticated services like remote deposit capture
resources with the industry’s top, requires up front time to do the job right, in
experienced and service-driven bankers. He addition to a willingness to implement
noticed many of the local banking providers services on site. For ServisFirst, this is not
were lacking this very simple combination, a choice, but a philosophy.
as "Big Banks" had the resources but often
failed to obtain the top-notch staff, while the Much of ServisFirst Bank’s success is due
smaller "Community Banks" could offer the to the strong support of its directors,
personal attention clients desired but would shareholders and loyal clients. Some were
often lack the latest sophisticated product attracted by the name, others by the
offerings. He saw a need in the banking investment opportunity and still others in
industry and found a way to meet it with the need of a bank committed to a total
formation of ServisFirst Bank. relationship. ServisFirst’s growth is not
fueled by above
Solidifying that “Our market CD interest
name is our mission”, rates; in fact, CDs
ServisFirst Bank only comprise a
sought to position modest 20% of the
itself as a customer- deposit base. With its
focused institution constant focus on
from its inception. developing a total
The local investment relationship with its
community quickly customers, the bank
validated this vision earns the respect and
as they anteed up loyalty of its
$35 million, setting customers. These
the record for highest advocates not only
capital ever raised by a start-up bank in the bring their own checking and money
State of Alabama. However, this markets accounts, business loans and lines
unprecedented achievement was just the of credit to the bank, they also bring their
beginning to the bank’s promising future. friends, neighbors and business associates
with them.
By executing Tom Broughton’s original
vision of combining personal attention with For most banks, the emphasis on personal
sophisticated product offerings, the bank attention and sophisticated product delivery
has found wide acceptance in the business
communities of Birmingham, Montgomery,
Dothan, and Huntsville. The bank reached
$500 million in assets within 18 months and
now has $2 billion in assets on its radar.
Putting service first means fast and timely
response which requires spending time
where the action occurs. As a result,
customers are just as apt to find ServisFirst
bankers in their business places as they are
2. would be a resource drain on the operations
side of the bank. As CFO Bud Foshee puts
it, “For us to live up to our name, we have to
be just as committed to service in the back
office functions. We know that we can’t just
throw bodies at the challenges; we need the
same level of technical sophistication
behind the scenes as our customers see in
our product line. That’s what attracted us to
TriNovus and their BankerVMS product.”
BankerVMS is a vendor management
solution that will help ServisFirst Bank
manage vendors throughout the lifecycle of
the relationship. Through proper vendor
management, the bank will be able to
reduce costs, meet compliance guidelines,
improve contract terms and increase the
value yielded from each vendor. Foshee is
particularly enthused by the contract date
tracking capabilities of this program.
Bud Foshee
“Many vendors have automatic renewal
Chief Financial Officer
provisions in their contracts that trigger six
months before the contract expiration date ServisFirst Bank
Banker MVS will give us the opportunity to
be proactive in renewing these contracts.
be able to give us pricing insight on what
Foshee also values the long relationship the market norms are by vendor category
that he’s had with TriNovus founder and and even specific vendor. Finally, we’ll
CEO, David Brasfield. “Just as our have an objective criterion to measure how
customers value our quality of service and well we are controlling expenses as
product sophistication, we value the same compared to our peers. That’s information
things in our vendors. We’ve known David we’ve never had before.”
for 20 years, and he’s developed a track
record that speaks for itself. He’s got a
With this new product in the ServisFirst
broad network of banks across the country
cache, the bank hopes to elevate its level of
which has me very excited about the vendor
service to its loyal customers and to
pricing analysis capability they’ve built into
continue the tremendous success which it
Banker MVS. With so many banks putting
has experienced in only four years of
their data into the TriNovus system, they will
operation.
For more information on BankerVMS or to
schedule a demo online or in person,
contact the TriNovus sales team at
205.991.5636 or visit www.trinovus.com.
For more information on ServisFirst Bank,
visit www.servisfirstbank.com for various
location contact numbers.
