ServisFirst Bancshares, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LOANS (Tables)

LOANS (Tables)

3 Months Ended

Mar. 31, 2016

The following table details the Company’s loans at March 31, 2016 and December 31, 2015:

	March 31,			December 31,
	2016			2015
	(Dollars In Thousands)
Commercial, financial and agricultural	$	1,799,133		$	1,760,479
Real estate - construction		254,254			243,267
Real estate - mortgage:
Owner-occupied commercial		1,055,852			1,014,669
1-4 family mortgage		458,031			444,134
Other mortgage		723,542			698,779
Subtotal: Real estate - mortgage		2,237,425			2,157,582
Consumer		50,088			55,047
Total Loans		4,340,900			4,216,375
Less: Allowance for loan losses		(45,145)			(43,419)
Net Loans	$	4,295,755		$	4,172,956

Commercial, financial and agricultural		41.45	%		41.75	%
Real estate - construction		5.86	%		5.77	%
Real estate - mortgage:
Owner-occupied commercial		24.32	%		24.07	%
1-4 family mortgage		10.55	%		10.53	%
Other mortgage		16.67	%		16.57	%
Subtotal: Real estate - mortgage		51.54	%		51.17	%
Consumer		1.15	%		1.31	%
Total Loans		100.00	%		100.00	%

Loans By Credit Quality Indicator

Loans by credit quality indicator as of March 31, 2016 and December 31, 2015 were as follows:

			Special
March 31, 2016	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,736,917	$	42,155	$	20,061	$	-	$	1,799,133
Real estate - construction		242,654		6,884		4,716		-		254,254
Real estate - mortgage:
Owner-occupied commercial		1,032,774		6,371		16,707		-		1,055,852
1-4 family mortgage		452,482		2,596		2,953		-		458,031
Other mortgage		708,749		11,263		3,530		-		723,542
Total real estate - mortgage		2,194,005		20,230		23,190		-		2,237,425
Consumer		50,028		30		30		-		50,088
Total	$	4,223,604	$	69,299	$	47,997	$	-	$	4,340,900

			Special
December 31, 2015	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,701,591	$	47,393	$	11,495	$	-	$	1,760,479
Real estate construction		233,046		6,221		4,000		-		243,267
Real estate - mortgage:
Owner-occupied commercial		988,762		18,169		7,738		-		1,014,669
1-4 family mortgage		437,834		3,301		2,999		-		444,134
Other mortgage		683,157		11,086		4,536		-		698,779
Total real estate - mortgage		2,109,753		32,556		15,273		-		2,157,582
Consumer		54,973		42		32		-		55,047
Total	$	4,099,363	$	86,212	$	30,800	$	-	$	4,216,375

Loans By Performance Status

Loans by performance status as of March 31, 2016 and December 31, 2015 were as follows:

March 31, 2016	Performing		Nonperforming		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,797,280	$	1,853	$	1,799,133
Real estate - construction		250,838		3,416		254,254
Real estate - mortgage:
Owner-occupied commercial		1,055,852		-		1,055,852
1-4 family mortgage		457,589		442		458,031
Other mortgage		722,737		805		723,542
Total real estate - mortgage		2,236,178		1,247		2,237,425
Consumer		50,054		34		50,088
Total	$	4,334,350	$	6,550	$	4,340,900

December 31, 2015	Performing		Nonperforming		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,758,561	$	1,918	$	1,760,479
Real estate - construction		239,267		4,000		243,267
Real estate - mortgage:
Owner-occupied commercial		1,014,669		-		1,014,669
1-4 family mortgage		443,936		198		444,134
Other mortgage		697,160		1,619		698,779
Total real estate - mortgage		2,155,765		1,817		2,157,582
Consumer		55,015		32		55,047
Total	$	4,208,608	$	7,767	$	4,216,375

Loans By Past Due Status

Loans by past due status as of March 31, 2016 and December 31, 2015 were as follows:

March 31, 2016		Past Due Status (Accruing Loans)
								Total Past
		30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans
	(In Thousands)
Commercial, financial and agricultural		$	39	$	-	$	-	$	39	$	1,853	$	1,797,241	$	1,799,133
Real estate - construction			110		-		-		110		3,416		250,728		254,254
Real estate - mortgage:
Owner-occupied commercial			1,041		-		-		1,041		-		1,054,811		1,055,852
1-4 family mortgage			592		-		250		842		192		456,997		458,031
Other mortgage			-		-		163		163		642		722,737		723,542
Total real estate - mortgage			1,633		-		413		2,046		834		2,234,545		2,237,425
Consumer			19		32		4		55		30		50,003		50,088
Total		$	1,801	$	32	$	417	$	2,250	$	6,133	$	4,332,517	$	4,340,900

December 31, 2015	Past Due Status (Accruing Loans)
							Total Past
	30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans
	(In Thousands)
Commercial, financial and agricultural	$	50	$	35	$	-	$	85	$	1,918	$	1,758,476	$	1,760,479
Real estate - construction		198		12		-		210		4,000		239,057		243,267
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		-		1,014,669		1,014,669
1-4 family mortgage		-		210		-		210		198		443,726		444,134
Other mortgage		-		-		-		-		1,619		697,160		698,779
Total real estate - mortgage		-		210		-		210		1,817		2,155,555		2,157,582
Consumer		45		6		1		52		31		54,964		55,047
Total	$	293	$	263	$	1	$	557	$	7,766	$	4,208,052	$	4,216,375

Changes In Allowance For Loan Losses Segregated By Loan Type

The following table presents an analysis of the allowance for loan losses by portfolio segment and changes in the allowance for loan losses for the three months ended March 31, 2016 and March 31, 2015. The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated.

	Commercial,
	financial and		Real estate -		Real estate -
	agricultural		construction		mortgage		Consumer		Total
	(In Thousands)
	Three Months Ended March 31, 2016
Allowance for loan losses:
Balance at December 31, 2015	$	21,495	$	5,432	$	16,061	$	431	$	43,419
Charge-offs		(50)		(381)		-		(18)		(449)
Recoveries		3		16		97		-		116
Provision		1,391		(62)		743		(13)		2,059
Balance at March 31, 2016	$	22,839	$	5,005	$	16,901	$	400	$	45,145

	Three Months Ended March 31, 2015
Allowance for loan losses:
Balance at December 31, 2014	$	16,079	$	6,395	$	12,112	$	1,043	$	35,629
Charge-offs		(77)		(382)		(433)		(5)		(897)
Recoveries		19		99		101		-		219
Provision		836		(223)		1,766		26		2,405
Balance at March 31, 2015	$	16,857	$	5,889	$	13,546	$	1,064	$	37,356

	As of March 31, 2016
Allowance for loan losses:
Individually Evaluated for Impairment	$	3,645	$	793	$	1,733	$	30	$	6,201
Collectively Evaluated for Impairment		19,194		4,212		15,168		370		38,944

Loans:
Ending Balance	$	1,799,133	$	254,254	$	2,237,425	$	50,088	$	4,340,900
Individually Tested for Impairment		20,075		4,767		25,762		39		50,643
Collectively Evaluated for Impairment		1,779,058		249,487		2,211,663		50,049		4,290,257

	As of December 31, 2015
Allowance for loan losses:
Individually Evaluated for Impairment	$	2,698	$	1,223	$	1,730	$	32	$	5,683
Collectively Evaluated for Impairment		18,797		4,209		14,331		399		37,736

Loans:
Ending Balance	$	1,760,479	$	243,267	$	2,157,582	$	55,047	$	4,216,375
Individually Evaluated for Impairment		11,513		4,052		17,880		46		33,491
Collectively Evaluated for Impairment		1,748,966		239,215		2,139,702		55,001		4,182,884

Details Of Company's Impaired Loans

The following table presents details of the Company’s impaired loans as of March 31, 2016 and December 31, 2015, respectively. Loans which have been fully charged off do not appear in the table.

	March 31, 2016
							For the three months
							ended March 31, 2016
									Interest
			Unpaid				Average		Income
	Recorded		Principal		Related		Recorded		Recognized
	Investment		Balance		Allowance		Investment		in Period
	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	2,176	$	2,184	$	-	$	2,182	$	24
Real estate - construction		776		1,640		-		1,242		1
Real estate - mortgage:
Owner-occupied commercial		11,384		11,545		-		11,925		166
1-4 family mortgage		2,105		2,272		-		2,335		42
Other mortgage		3,085		3,078		-		3,100		43
Total real estate - mortgage		16,574		16,895		-		17,360		251
Consumer		9		13		-		9		-
Total with no allowance recorded		19,535		20,732		-		20,793		276

With an allowance recorded:
Commercial, financial and agricultural		17,899		19,899		3,645		18,009		280
Real estate - construction		3,991		3,991		793		3,966		19
Real estate - mortgage:
Owner-occupied commercial		7,895		7,895		1,253		7,948		94
1-4 family mortgage		848		848		345		846		5
Other mortgage		445		445		135		451		4
Total real estate - mortgage		9,188		9,188		1,733		9,245		103
Consumer		30		30		30		31		-
Total with allowance recorded		31,108		33,108		6,201		31,251		402

Total Impaired Loans:
Commercial, financial and agricultural		20,075		22,083		3,645		20,191		304
Real estate - construction		4,767		5,631		793		5,208		20
Real estate - mortgage:
Owner-occupied commercial		19,279		19,440		1,253		19,873		260
1-4 family mortgage		2,953		3,120		345		3,181		47
Other mortgage		3,530		3,523		135		3,551		47
Total real estate - mortgage		25,762		26,083		1,733		26,605		354
Consumer		39		43		30		40		-
Total impaired loans	$	50,643	$	53,840	$	6,201	$	52,044	$	678

	December 31, 2015
							For the twelve months
							ended December 31, 2015
									Interest
			Unpaid				Average		Income
	Recorded		Principal		Related		Recorded		Recognized
	Investment		Balance		Allowance		Investment		In Period
	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	478	$	487	$	-	$	482	$	24
Real estate - construction		161		163		-		370		1
Real estate - mortgage:
Owner-occupied commercial		3,980		4,140		-		3,815		214
1-4 family mortgage		2,396		2,572		-		2,409		147
Other mortgage		4,079		4,694		-		4,559		222
Total real estate - mortgage		10,455		11,406		-		10,783		583
Consumer		14		20		-		18		1
Total with no allowance recorded		11,108		12,076		-		11,653		609

With an allowance recorded:
Commercial, financial and agricultural		11,035		13,035		2,698		13,882		672
Real estate - construction		3,891		4,370		1,223		3,920		-
Real estate - mortgage:
Owner-occupied commercial		6,365		6,365		1,328		9,958		568
1-4 family mortgage		603		603		263		567		19
Other mortgage		457		457		139		880		17
Total real estate - mortgage		7,425		7,425		1,730		11,405		604
Consumer		32		32		32		34		-
Total with allowance recorded		22,383		24,862		5,683		29,241		1,276

Total Impaired Loans:
Commercial, financial and agricultural		11,513		13,522		2,698		14,364		696
Real estate - construction		4,052		4,533		1,223		4,290		1
Real estate - mortgage:
Owner-occupied commercial		10,345		10,505		1,328		13,773		782
1-4 family mortgage		2,999		3,175		263		2,976		166
Other mortgage		4,536		5,151		139		5,439		239
Total real estate - mortgage		17,880		18,831		1,730		22,188		1,187
Consumer		46		52		32		52		1
Total impaired loans	$	33,491	$	36,938	$	5,683	$	40,894	$	1,885