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

Note 11 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2023

	Fair Value Measurements at March 31, 2023 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	$	2,990	$	-	$	-	$	2,990
Government agency securities		-		4		-		4
Mortgage-backed securities		-		243,031		-		243,031
State and municipal securities		-		13,311		-		13,311
Corporate debt		-		358,752		6,860		365,612
Total available-for-sale debt securities		2,990		615,098		6,860		624,948
Interest rate cap derivative		-		1,181		-		1,181
Total assets at fair value	$	2,990	$	616,279	$	6,860	$	626,129

	Fair Value Measurements at December 31, 2022 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	$	2,969	$	-	$	-	$	2,969
Government agency securities		-		9		-		9
Mortgage-backed securities		-		249,703		-		249,703
State and municipal securities		-		13,609		-		13,609
Corporate debt		-		367,665		10,860		378,525
Total available-for-sale debt securities		2,969		630,986		10,860		644,815
Interest rate cap derivative		-		4,201		-		4,201
Total assets at fair value	$	2,969	$	635,187	$	10,860	$	649,016

	Fair Value Measurements at March 31, 2023 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	$	-	$	-	$	71,486	$	71,486
Other real estate owned and repossessed assets		-		-		248		248
Total assets at fair value	$	-	$	-	$	71,734	$	71,734

	Fair Value Measurements at December 31, 2022 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	$	-	$	-	$	73,017	$	73,017
Other real estate owned		-		-		248		248
Total assets at fair value	$	-	$	-	$	73,265	$	73,265

	For the period ended March 31,
	2023			2022
	Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	10,860		$	16,992
Transfers into Level 3		-			-
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		160			(343	)
Purchases		-			-
Transfers out of Level 3		(4,160	)		(5,149	)
Fair value, end of period	$	6,860		$	11,500

	March 31, 2023				December 31, 2022
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	864,493	$	864,493	$	814,538	$	814,538
Held to maturity U.S. Treasury securities		507,601		477,580		507,601		470,954

Level 2 Inputs:
Federal funds sold		6,478		6,478		1,515		1,515
Held to maturity debt securites		506,342		453,162		526,720		464,749
Mortgage loans held for sale		1,651		1,642		1,607		1,604
Restricted equity securities		7,307		7,307		7,734		7,734

Level 3 Inputs:
Held to maturity debt securites		250		250		250		250
Loans, net		11,480,837		11,145,529		11,541,671		11,265,517

Financial Liabilities:
Level 2 Inputs:
Deposits	$	11,615,317	$	11,602,610	$	11,546,805	$	11,529,647
Federal funds purchased		1,480,160		1,480,160		1,618,798		1,618,798
Other borrowings		65,417		57,340		64,726		57,101