The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced the addition of an indicative 30-day forward AMERIBOR® rate called AMERIBOR30® to its suite of product offerings. AFX developed the AMERIBOR30® methodology at the request of its member banks. AMERIBOR30® used methodology and transactions that aligns with macroeconomic theory and academic research on the term structure of interest rates.

Birmingham, Alabama-based, ServisFirst Bank, is using the AMERIBOR30® rate to price a $20 million loan.

ServisFirst Bank President and CEO, Thomas Broughton said, “We are excited to be the first to use this innovative forward-looking benchmark. Producing this indicative term rate will provide an additional easy, forward looking alternative for pricing loans using the AMERIBOR® index.”

AFX Chairman and CEO, Dr. Richard L. Sandor said. “We are pleased that ServisFirst will be the first bank to issue a loan based on AMERIBOR30®. The AFX AMERIBOR® complex is currently used by more than 20 percent of U.S. Banks. Our goal is to always provide more choices so our members and other market participants can use the benchmark that best suits their needs.”

Currently AFX membership across the U.S. includes 159 banks and 44 non-banks, which is comprised of insurance companies, broker-dealers, private equity firms, hedge funds, futures commission merchants, and asset managers. For more information about AFX or AMERIBOR®, visit www.ameribor.net.