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

Note 11 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2021

	Fair Value Measurements at March 31, 2021 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Assets (Level 1)		(Level 2)		Inputs (Level 3)		Total
Assets Measured on a Recurring Basis:	(In Thousands)
Available for sale debt securities:
U.S. Treasury securities	$	-	$	14,296	$	-	$	14,296
Government agency securities		-		12,190		-		12,190
Mortgage-backed securities		-		569,542		-		569,542
State and municipal securities		-		33,522		-		33,522
Corporate debt		-		322,028		10,301		332,329
Total available-for-sale debt securities		-		951,578		10,301		961,879
Interest rate cap derivative		-		414		-		414
Total assets at fair value	$	-	$	951,992	$	10,301	$	962,293

	Fair Value Measurements at December 31, 2020 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Assets (Level 1)		(Level 2)		Inputs (Level 3)		Total
Assets Measured on a Recurring Basis:	(In Thousands)
Available for sale debt securities:
U.S. Treasury securities	$	-	$	14,357	$	-	$	14,357
Government agency securities		-		15,458		-		15,458
Mortgage-backed securities		-		495,109		-		495,109
State and municipal securities		-		38,115		-		38,115
Corporate debt		-		323,649		-		323,649
Total available-for-sale debt securities		-		886,688		-		886,688
Interest rate cap derivative		-		139		-		139
Total assets at fair value	$	-	$	886,827	$	-	$	886,827

	Fair Value Measurements at March 31, 2021 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	70,929	$	70,929
Other real estate owned and repossessed assets		-		-		2,067		2,067
Total assets at fair value	$	-	$	-	$	72,996	$	72,996

	Fair Value Measurements at December 31, 2020 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	80,817	$	80,817
Other real estate owned		-		-		6,497		6,497
Total assets at fair value	$	-	$	-	$	87,314	$	87,314

	March 31, 2021				December 31, 2020
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and cash equivalents	$	2,808,153	$	2,808,153	$	2,209,640	$	2,209,640

Level 2 inputs:
Federal funds sold		1,577		1,577		1,771		1,771
Mortgage loans held for sale		15,834		15,551		14,425		14,497

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		8,410,074		8,428,969		8,377,746		8,387,718

Financial Liabilities:
Level 2 inputs:
Deposits	$	10,577,610	$	10,587,038	$	9,975,724	$	9,987,665
Federal funds purchased		911,558		911,558		851,545		851,545
Other borrowings		64,691		65,548		64,748		65,560