ServisFirst Bancshares, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EMPLOYEE AND DIRECTOR BENEFITS (Tables)

EMPLOYEE AND DIRECTOR BENEFITS (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Assumptions Used To Estimates Fair Value Of Stock Option Award Using Black Scholes Merton Valuation Model

Treasury yield curve in effect at the time of grant.

	2014		2013		2012
Expected volatility	19.25	%	18.65	%	19.80	%
Expected dividends	1.31	%	-	%	-	%
Expected term (in years)	8		7		6
Risk-free rate	2.24	%	1.72	%	1.05	%

Summary Of Stock Option Activity

The following tables summarize stock option activity:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
							(In Thousands)
Year Ended December 31, 2014:
Outstanding at beginning of year		2,328,900	$	7.69		5.5	$	14,300
Granted		139,000		16.83		9.3		2,339
Exercised		(838,983)		5.92		2.5		22,679
Forfeited		(6,000)		11.92		7.9		-
Outstanding at end of year		1,622,917	$	9.38		5.9	$	38,256

Exercisable at December 31, 2014		591,418	$	7.75		4.1	$	14,901

Year Ended December 31, 2013:
Outstanding at beginning of year		2,449,500	$	6.96		5.8	$	9,905
Granted		180,000		12.65		9.7		213
Exercised		(282,600)		4.48		2.8		2,532
Forfeited		(18,000)		7.50		5.6		-
Outstanding at end of year		2,328,900	$	7.69		5.5	$	14,300

Exercisable at December 31, 2013		1,161,732	$	5.40		3.2	$	9,797

Year Ended December 31, 2012:
Outstanding at beginning of year		3,221,400	$	6.11		6.0	$	12,508
Granted		136,500		10.00		9.3		130
Exercised		(864,390)		4.24		2.4		5,846
Forfeited		(44,010)		8.18		-		-
Outstanding at end of year		2,449,500	$	6.96		5.8	$	9,905

Exercisable at December 31, 2012		1,238,475	$	4.68		3.6	$	7,831

Summary Of Stock Option Exercisable

Exercisable options at December 31, 2014 were as follows:

Range of Exercise Price		Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
								(In Thousands)
$	3.33		13,500	$	3.33		0.5	$	400
	3.67		150,000		3.67		1.3		4,392
	5.00		10,500		5.00		2.2		293
	6.67		45,000		6.67		2.5		1,183
	8.33		267,418		8.33		4.3		6,583
	11.00		15,000		11.00		8.2		329
	13.83		90,000		13.83		9.0		1,721
			591,418		7.75		4.1		14,901

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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