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

Note 21 - Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2021

	Fair Value Measurements at December 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	$	9,104	$	-	$	-	$	9,104
Government agency securities		-		6,041		-		6,041
Mortgage-backed securities		-		425,161		-		425,161
State and municipal securities		-		21,634		-		21,634
Corporate debt		-		363,638		16,992		380,630
Total available-for-sale debt securities		9,104		816,474		16,992		842,570
Interest rate cap derivative		-		1,152		-		1,152
Total assets at fair value	$	9,104	$	817,626	$	16,992	$	843,722

	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		14,357		872,331		-		886,688
Interest rate cap derivative		-		139		-		139
Total assets at fair value	$	14,357	$	872,470	$	-	$	886,827

	Fair Value Measurements at December 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	$	-	$	-	$	73,173	$	73,173
Other real estate owned and repossessed assets		-		-		1,208		1,208
Total assets at fair value	$	-	$	-	$	74,381	$	74,381

	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 and repossessed assets		-		-		6,497		6,497
Total assets at fair value	$	-	$	-	$	87,314	$	87,314

	For the year ended December 31,
	2021			2020
	Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	-		$	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		492			(15	)
Purchases		18,000			-
Transfers out of Level 3		(7,500	)		(6,581	)
Fair value, end of period	$	16,992		$	-

	December 31,
	2021				2020
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	4,163,724	$	4,163,724	$	2,209,640	$	2,209,640

Level 2 Inputs:
Federal funds sold		58,372		58,372		1,771		1,771
Held to maturity debt securities		462,707		466,036		-		-
Mortgage loans held for sale		1,114		1,111		14,425		14,497

Level 3 Inputs:
Debt securities held to maturity		250		250		250		250
Loans, net		9,416,274		9,403,012		8,377,746		8,387,718

Financial Liabilities:
Level 2 Inputs:
Deposits	$	12,452,836	$	12,454,140	$	9,975,724	$	9,987,665
Federal funds purchased		1,711,777		1,711,777		851,545		851,545
Other borrowings		64,706		65,476		64,748		65,560