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

Note 11 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2021

	Fair Value Measurements at September 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	$	-	$	14,179	$	-	$	14,179
Government agencies		-		9,084		-		9,084
Mortgage-backed securities		-		298,548		-		298,548
State and municipal securities		-		21,597		-		21,597
Corporate debt		-		362,898		17,018		379,916
Total available-for-sale debt securities		-		706,306		17,018		723,324
Interest rate cap derivative		-		314		-		314
Total assets at fair value	$	-	$	706,620	$	17,018	$	723,638

	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 agencies		-		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 September 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	$	-	$	-	$	79,935	$	79,935
Other real estate owned and repossessed assets		-		-		2,068		2,068
Total assets at fair value	$	-	$	-	$	82,003	$	82,003

	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	$	-	$	-	$	80,815	$	80,815
Other real estate owned and repossessed assets		-		-		6,497		6,497
Total assets at fair value	$	-	$	-	$	87,312	$	87,312

	For the Three months ended September 30,						For the Nine months ended September 30,
	2021			2020			2021			2020
	Available-for-sale Securities			Available-for-sale Securities			Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	14,994		$	6,596		$	-		$	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		24			(15	)		518			(15	)
Purchases		5,500			-			18,000			-
Transfers out of Level 3		(3,500	)		-			(7,500	)		-
Fair value, end of period	$	17,018		$	6,581		$	17,018		$	6,581

	September 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	$	4,399,786	$	4,399,786	$	2,209,640	$	2,209,640

Level 2 inputs:
Federal funds sold		44,700		44,700		1,771		1,771
Held to maturity debt securities		261,026		261,026		-		-
Mortgage loans held for sale		578		574		14,425		14,497

Level 3 inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		8,623,926		8,564,829		8,296,931		8,387,718

Financial liabilities:
Level 2 inputs:
Deposits	$	12,078,670	$	12,084,052	$	9,975,724	$	9,987,665
Federal funds purchased		1,286,756		1,286,756		851,545		851,545
Other borrowings		64,701		65,500		64,748		65,560