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

Note 11 - Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2021

	Fair Value Measurements at June 30, 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	$	-	$	14,235	$	-	$	14,235
Government agency securities		-		12,139		-		12,139
Mortgage-backed securities		-		599,092		-		599,092
State and municipal securities		-		26,281		-		26,281
Corporate debt		-		346,792		14,994		361,786
Total available-for-sale debt securities		-		998,539		14,994		1,013,533
Interest rate cap derivative		-		412		-		412
Total assets at fair value	$	-	$	998,951	$	14,994	$	1,013,945

	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 June 30, 2021
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	68,663	$	68,663
Other real estate owned and repossessed assets		-		-		2,039		2,039
Total assets at fair value	$	-	$	-	$	70,702	$	70,702

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

	For the Three months ended June 30,						For the Six months ended June 30,
	2021			2020			2021			2020
	Available-for-sale Securities			Available-for- sale Securities			Available-for- sale Securities			Available-for- sale Securities

Fair value, beginning of period	$	10,301		$	6,647		$	-		$	6,596
Transfers into Level 3		-			-			6,000			-
Total realized gains included in income		-			-			-			-
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end		193			(52	)		494			(1	)
Purchases		8,500			-			12,500			-
Transfers out of Level 3		(4,000	)		-			(4,000	)		-
Fair value, end of period	$	14,994		$	6,595		$	14,994		$	6,595

	June 30, 2021				December 31, 2020
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and due from banks	$	3,173,276	$	3,173,276	$	2,209,640	$	2,209,640

Level 2 inputs:
Federal funds sold		7,500		7,500		1,771		1,771
Mortgage loans held for sale		6,147		7,019		14,425		14,497

Level 3 inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		8,476,361		8,442,506		8,377,746		8,387,718

Financial liabilities:
Level 2 inputs:
Deposits	$	10,958,236	$	10,965,495	$	9,975,724	$	9,987,665
Federal funds purchased		1,059,474		1,059,474		851,545		851,545
Other borrowings		64,696		65,524		64,748		65,560