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, 2013

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

	2013		2012		2011
Expected volatility	18.65	%	19.80	%	26.50	%
Expected dividends	-	%	-	%	0.37	%
Expected term (in years)	7		6		7
Risk-free rate	1.72	%	1.05	%	2.21	%

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, 2013:
Outstanding at beginning of year	816,500	$	20.87	5.8	$	9,905
Granted	60,000		37.96	9.7		213
Exercised	(94,200)		13.44	2.8		2,532
Forfeited	(6,000)		22.50	5.6		-
Outstanding at end of year	776,300	$	23.08	5.5	$	14,300

Exercisable at December 31, 2013:	387,244	$	16.20	3.2	$	9,797

Year Ended December 31, 2012:
Outstanding at beginning of year	1,073,800	$	18.33	6.0	$	12,508
Granted	45,500		30.00	9.3		130
Exercised	(288,130)		12.71	2.4		5,846
Forfeited	(14,670)		24.54	-		-
Outstanding at end of year	816,500	$	20.87	5.8	$	9,905

Exercisable at December 31, 2012	412,825	$	14.03	3.6	$	7,831

Year Ended December 31, 2011:
Outstanding at beginning of year	881,000	$	15.65	6.9	$	8,238
Granted	233,500		27.16	9.3		-
Exercised	(40,700)		10.53	3.8		792
Forfeited	-		15.00	-		-
Outstanding at end of year	1,073,800	$	18.33	6.0	$	12,508

Exercisable at December 31, 2011	442,940	$	13.19	4.4	$	7,447

Summary Of Stock Option Exercisable

Exercisable options at December 31, 2013 were as follows:

Range of Exercise Price		Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
						(In Thousands)
$	10.00	33,000	$	10.00	1.4	$	1,040
	11.00	108,000		11.00	2.3		3,294
	15.00	113,500		15.00	3.0		3,008
	20.00	52,994		20.00	4.1		1,139
	25.00	79,750		25.00	4.7		1,316
		387,244	$	16.20	3.2	$	9,797

- 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.

+ References + Details