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

Note 11 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2023

	Fair Value Measurements at September 30, 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	$	280,718	$	-	$	-	$	280,718
Mortgage-backed securities		-		215,241		-		215,241
State and municipal securities		-		11,193		-		11,193
Corporate debt		-		320,790		6,860		327,650
Total available-for-sale debt securities		280,718		547,224		6,860		834,802
Total assets at fair value	$	280,718	$	547,224	$	6,860	$	834,802

	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 September 30, 2023
	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	$	-	$	-	$	69,570	$	69,570
Other real estate owned and repossessed assets		-		-		690		690
Total assets at fair value	$	-	$	-	$	70,260	$	70,260

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

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023			2022
	Available-for-sale Securities		Available-for-sale Securities		Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	6,860	$	6,000	$	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			(805	)
Purchases		-		-		-			-
Transfers out of Level 3		-		-		(4,160	)		(10,187	)
Fair value, end of period	$	6,860	$	6,000	$	6,860		$	6,000

	September 30, 2023				December 31, 2022
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	1,974,074	$	1,974,074	$	814,538	$	814,538
Held to maturity U.S. Treasury securities		558,196		523,182		507,151		470,954

Level 2 Inputs:
Federal funds sold		91,035		91,035		1,515		1,515
Held to maturity debt securities		485,453		409,574		526,720		464,749
Mortgage loans held for sale		6,333		6,281		1,607		1,604
Restricted equity securities		10,226		10,226		7,734		7,734

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		11,488,883		11,069,141		11,541,671		11,265,517

Financial Liabilities:
Level 2 Inputs:
Deposits	$	13,142,376	$	13,128,874	$	11,546,805	$	11,529,647
Federal funds purchased		1,370,289		1,370,289		1,618,798		1,618,798
Other borrowings		64,751		57,829		64,726		57,101