Exhibit 99.1

SERVISFIRST BANCSHARES, INC.

Announces Results For Third Quarter of 2015

Birmingham, Ala. – (PR Newswire) – October 19, 2015 – ServisFirst Bancshares, Inc. (NASDAQ: SFBS), today announced earnings and operating results for the quarter and nine months ended September 30, 2015.

Third Quarter 2015 Highlights:

Net income increased 16% year over year

Diluted earnings per share of $0.61 for the quarter, a 13% increase year over year

Third quarter annualized loan and deposit growth of 19% and 34%, respectively, on a linked quarter basis

Added five new producers in the third quarter for a total of 117 at the end of the quarter, a 29% increase from the end of 2014

Tom Broughton, President and CEO, said, “We are pleased to report strong growth in loans, deposits and net income for the third quarter of 2015 with continued strong credit quality.” Bud Foshee, CFO, stated, “We are pleased with the consistent growth in net interest income and consistent loan yields despite the flat interest rate environment.”

FINANCIAL SUMMARY (UNAUDITED)

(in Thousands except share and per share amounts)

	Period Ending September 30, 2015			Period Ending June 30, 2015			% Change From Period Ending June 30, 2015 to Period Ending September 30, 2015			Period Ending September 30, 2014			% Change From Period Ending September 30, 2014 to Period Ending September 30, 2015
QUARTERLY OPERATING RESULTS
Net Income	$	16,266		$	14,469			12	%	$	14,002			16	%
Net Income Available to Common Stockholders	$	16,233		$	14,346			13	%	$	13,902			17	%
Diluted Earnings Per Share	$	0.61		$	0.54			13	%	$	0.54			13	%
Return on Average Assets		1.38	%		1.31	%					1.45	%
Return on Average Common Stockholders' Equity		15.52	%		14.06	%					15.89	%
Average Diluted Shares Outstanding		26,506,334			26,426,036						25,726,313

Core Net Income*	$	16,266		$	14,469			12	%	$	14,002			16	%
Core Net Income Available to Common Stockholders*	$	16,233		$	14,346			13	%	$	13,902			17	%
Core Diluted Earnings Per Share*	$	0.61		$	0.54			13	%	$	0.54			13	%
Core Return on Average Assets*		1.38	%		1.31	%					1.45	%
Core Return on Average Common Stockholders' Equity*		15.52	%		14.06	%					15.89	%

YEAR-TO-DATE OPERATING RESULTS
Net Income	$	43,790								$	37,345			17	%
Net Income Available to Common Stockholders	$	43,534								$	37,029			18	%
Diluted Earnings Per Share	$	1.65								$	1.51			9	%
Return on Average Assets		1.32	%								1.37	%
Return on Average Common Stockholders' Equity		14.40	%								16.17	%
Average Diluted Shares Outstanding		26,391,100									24,598,250

Core Net Income*	$	45,557								$	38,957			17	%
Core Net Income Available to Common Stockholders*	$	45,301								$	38,641			17	%
Core Diluted Earnings Per Share*	$	1.72								$	1.57			9	%
Core Return on Average Assets*		1.37	%								1.43	%
Core Return on Average Common Stockholders' Equity*		14.99	%								16.88	%

BALANCE SHEET
Total Assets	$	4,772,601		$	4,492,539			6	%	$	3,952,799			21	%
Loans		4,044,242			3,863,734			5	%		3,159,772			28	%
Non-interest-bearing Demand Deposits		1,029,354			926,577			11	%		794,553			30	%
Total Deposits		4,044,634			3,729,132			8	%		3,352,766			21	%
Stockholders' Equity		431,194			454,487			(5	)%		393,136			10	%

* Core measures exclude non-routine expenses during the comparative periods presented in this press release as more fully described in "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures" below.

DETAILED FINANCIALS

ServisFirst Bancshares, Inc. reported net income of $16.3 million and net income available to common stockholders of $16.2 million for the quarter ended September 30, 2015, compared to net income of $14.0 million and net income available to common stockholders of $13.9 million for the same quarter in 2014. Basic and diluted earnings per common share were $0.63 and $0.61, respectively, for the third quarter of 2015, compared to $0.56 and $0.54, respectively, for the third quarter of 2014.

Return on average assets was 1.38% and return on average common stockholders’ equity was 15.52% for the third quarter of 2015, compared to 1.45% and 15.89%, respectively, for the third quarter of 2014.

Net interest income was $41.9 million for the third quarter of 2015, compared to $40.2 million for the second quarter of 2015 and $33.3 million for the third quarter of 2014. The net interest margin in the third quarter of 2015 was 3.77%, an 11 basis point decrease from the second quarter of 2015 and 12 basis point increase from the third quarter of 2014. The increase in net interest income on a linked quarter basis is attributable to a $183.9 million increase in average loans outstanding and a $80.7 million increase in non-interest-bearing deposits, both resulting in a positive mix change in our balance sheet. The Company completed a private placement of $34.75 million of its 5% Subordinated Notes due July 15, 2025 during the third quarter of 2015, which partially offset the positive mix change attributable to the increase in average loans and non-interest-bearing deposits. The average yield on loans decreased 3 basis points to 4.48% on a linked quarter basis. Two basis points of this decrease are attributable to a $176,000 decrease in the accretion on acquired loans. Excluding accretion on acquired loans, the net interest margin decreased nine basis points from the second quarter to the third quarter of 2015. Average rates paid on interest-bearing liabilities increased from 0.53% in the second quarter to 0.57% in the third quarter of 2015. Half of this increase is attributable to the rate paid on the subordinated notes issued during the third quarter.

Average loans for the third quarter of 2015 were $3.93 billion, an increase of $183.9 million, or 5%, over average loans of $3.74 billion for the second quarter of 2015, and an increase of $832.1 million, or 27%, over average loans of $3.09 billion for the third quarter of 2014.

Average total deposits for the third quarter of 2015 were $4.17 billion, an increase of $233.8 million, or 6%, over average total deposits of $3.94 billion for the second quarter of 2015, and an increase of $769.3 million, or 23%, over average total deposits of $3.40 billion for the third quarter of 2014.

Non-performing assets to total assets were 0.34% for the third quarter of 2015, a decrease of four basis points compared to 0.38% for the second quarter of 2015 and a decrease of 27 basis points compared to 0.61% for the third quarter of 2014. Net credit charge-offs to average loans were 0.05%, a 10 basis point decrease compared to 0.15% for the second quarter of 2015 and a 12 basis point decrease compared to 0.17% for the third quarter of 2014. We recorded a $3.1 million provision for loan losses in the third quarter of 2015 compared to $4.1 million in the second quarter of 2015 and $2.7 million in the third quarter of 2014. The allowance for loan loss as a percentage of total loans was 1.05% at September 30, 2015, an increase of one basis point compared to 1.04% at June 30, 2015 and a decrease of four basis points compared to 1.09% at September 30, 2014. In management’s opinion, the allowance is adequate and was determined by consistent application of ServisFirst Bank’s methodology for calculating its allowance for loan loss.

Non-interest income increased $816,000 during the third quarter of 2015, or 27%, compared to the third quarter of 2014. Mortgage banking revenue increased $291,000, or 50%, resulting from a 22% increase in the number of loans originated and sold, and improved pricing on loans originated. Increases in the cash surrender value of our life insurance contracts resulted from added investments in contracts during the third quarter of 2014.

Non-interest expense for the third quarter of 2015 increased $3.0 million, or 20%, to $18.3 million from $15.3 million in the third quarter of 2014, and increased $119,000, or less than 1%, on a linked quarter basis. Salary and benefit expense for the third quarter of 2015 increased $2.7 million, or 34%, to $10.6 million from $7.9 million in the third quarter of 2014, and increased $169,000, or 2%, on a linked quarter basis. The year-over-year increase is primarily the result of the Metro Bank employees coming on board in February 2015 and employee hires in our newer markets and Birmingham.

GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures

We recorded expenses of $2.1 million for the first quarter of 2015 related to the acquisition of Metro Bancshares, Inc. and the merger of Metro Bank with and into the Bank, and recorded an expense of $500,000 resulting from the initial funding of reserves for unfunded loan commitments for the first quarter of 2015, consistent with guidance provided in the Federal Reserve Bank’s Inter-agency Policy Statement SR 06-17. We recorded non-routine expenses of $2.5 million during the first half of 2014 resulting from a correction of our accounting for vested stock options and acceleration of vesting for unvested stock options previously granted to members of our advisory boards in our markets. This change in accounting treatment is a non-cash item and did not impact our operating activities or cash from operations. Core financial measures included in this press release are “core net income,” “core net income available to common stockholders,” “core diluted earnings per share,” “core return on average assets” and “core return on average common stockholders’ equity.” Each of these five core financial measures excludes the impact of the non-routine expenses attributable to merger expenses, the initial funding of reserves for unfunded loan commitments, the correction of our accounting for vested stock options and the acceleration of vesting of unvested stock options, and are all considered non-GAAP financial measures. Other non-GAAP financial measures included in this press release are “tangible common stockholders’ equity,” “total tangible assets,” “tangible book value per share,” and “tangible common equity to total tangible assets.” All non-GAAP financial measures are more fully explained below.

“Core net income” is defined as net income, adjusted by the net effect of the non-routine expense.

“Core net income available to common stockholders” is defined as net income available to common stockholders, adjusted by the net effect of the non-routine expense.

“Core diluted earnings per share” is defined as net income available to common stockholders, adjusted by the net effect of the non-routine expense, divided by weighted average diluted shares outstanding.

“Core return on average assets” is defined as net income, adjusted by the net effect of the non-routine expense, divided by average total assets.

“Core return of average common stockholders’ equity” is defined as net income, adjusted by the net effect of the non-routine expense, divided by average common stockholders’ equity.

“Tangible common stockholders’ equity” is defined as common stockholders’ equity, adjusted by the total of goodwill and other identifiable intangible assets.

“Total tangible assets” is defined as total assets, adjusted by the total of goodwill and other identifiable intangible assets.

“Tangible book value per share” is defined as tangible common stockholders’ equity divided by the number of common shares outstanding.

“Tangible common equity to total tangible assets” is defined as tangible common equity divided by total tangible assets.

We believe these non-GAAP financial measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, we acknowledge that these non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies, including those in our industry, use. The following reconciliation table provides a more detailed analysis of the non-GAAP financial measures for the nine month comparative periods ended September 30, 2015 and 2014 included in this press release. Dollars are in thousands, except share and per share data.

	For the Nine Months Ended September 30, 2015			For the Nine Months Ended September 30, 2014
Provision for income taxes - GAAP	$	20,889		$	14,965
Adjustments:
Adjustment for non-routine expense		829			865
Core provision for income taxes	$	21,718		$	15,830

Return on average assets - GAAP		1.32	%		1.37	%
Net income - GAAP	$	43,790		$	37,345
Adjustments:
Adjustment for non-routine expense		1,767			1,612
Core net income	$	45,557		$	38,957
Average assets	$	4,430,226		$	3,653,763
Core return on average assets		1.37	%		1.43	%

Return on average common stockholders' equity		14.40	%		16.17	%
Net income available to common stockholders - GAAP	$	43,534		$	37,029
Adjustments:
Adjustment for non-routine expense		1,767			1,612
Core net income available to common stockholders	$	45,301		$	38,641
Average common stockholders' equity	$	404,177		$	306,144
Core return on average common stockholders' equity		14.99	%		16.88	%

Earnings per share - diluted - GAAP	$	1.65		$	1.51
Weighted average shares outstanding, diluted		26,391,100			24,598,250
Core diluted earnings per share	$	1.72		$	1.57

Book value per share	$	16.65		$	14.25
Total common stockholders' equity - GAAP		431,194			353,178
Adjustments:
Adjusted for goodwill and other identifiable intangible assets		17,756			-
Tangible common stockholders' equity	$	413,438		$	353,178
Tangible book value per share	$	15.96		$	14.25

Common stockholders' equity to total assets		9.03	%		8.93	%
Total assets - GAAP	$	4,772,601		$	3,952,799
Adjustments:
Adjusted for goodwill and other identifiable intangible assets		17,756			-
Total tangible assets		4,754,845			3,952,799
Tangible common equity to total tangible assets		8.70	%		8.93	%

About ServisFirst Bancshares, Inc.

ServisFirst Bancshares, Inc. is a bank holding company based in Birmingham, Alabama. Through its subsidiary ServisFirst Bank, ServisFirst Bancshares, Inc. provides business and personal financial services from locations in Birmingham, Huntsville, Montgomery, Mobile and Dothan, Alabama, Pensacola, Florida, Atlanta, Georgia, Charleston, South Carolina and Nashville, Tennessee.

ServisFirst Bancshares, Inc. files periodic reports with the U.S. Securities and Exchange Commission (SEC). Copies of its filings may be obtained through the SEC’s website at www.sec.gov or at http://servisfirstbancshares.investorroom.com/.

Statements in this press release that are not historical facts, including, but not limited to, statements concerning future operations, results or performance, are hereby identified as "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. The words "believe," "expect," "anticipate," "project," “plan,” “intend,” “will,” “would,” “might” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. ServisFirst Bancshares, Inc. cautions that such forward-looking statements, wherever they occur in this press release or in other statements attributable to ServisFirst Bancshares, Inc., are necessarily estimates reflecting the judgment of ServisFirst Bancshares, Inc.’s senior management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Such forward-looking statements should, therefore, be considered in light of various factors that could affect the accuracy of such forward-looking statements, including: general economic conditions, especially in the credit markets and in the Southeast; the performance of the capital markets; changes in interest rates, yield curves and interest rate spread relationships; changes in accounting and tax principles, policies or guidelines; changes in legislation or regulatory requirements; changes in our loan portfolio and the deposit base; possible changes in laws and regulations and governmental monetary and fiscal policies, including, but not limited to, economic stimulus initiatives; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and the value of collateral; the effect of natural disasters, such as hurricanes and tornados, in our geographic markets; and increased competition from both banks and non-bank financial institutions. The foregoing list of factors is not exhaustive. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-looking Statements” and “Risk Factors” in our most recent Annual Report on Form 10-K and our other SEC filings. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained herein. Accordingly, you should not place undue reliance on any forward-looking statements, which speak only as of the date made. ServisFirst Bancshares, Inc. assumes no obligation to update or revise any forward-looking statements that are made from time to time.

More information about ServisFirst Bancshares, Inc. may be obtained over the Internet at http://servisfirstbancshares.investorroom.com/ or by calling (205) 949-0302.

Contact: ServisFirst Bank

Davis Mange (205) 949-3420

dmange@servisfirstbank.com

SELECTED FINANCIAL HIGHLIGHTS

(UNAUDITED)

(In thousands except share and per share data)

	3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014			3rd Quarter 2014
CONSOLIDATED STATEMENT OF INCOME
Interest income	$	46,532		$	44,209		$	40,783		$	38,163		$	36,857
Interest expense		4,670			3,998			3,746			3,703			3,538
Net interest income		41,862			40,211			37,037			34,460			33,319
Provision for loan losses		3,072			4,062			2,405			2,759			2,748
Net interest income after provision for loan losses		38,790			36,149			34,632			31,701			30,571
Non-interest income		3,822			3,505			3,077			3,110			3,006
Non-interest expense		18,332			18,213			18,751			13,143			15,315
Income before income tax		24,280			21,441			18,958			21,668			18,262
Provision for income tax		8,014			6,972			5,903			6,636			4,260
Net income		16,266			14,469			13,055			15,032			14,002
Preferred stock dividends		33			123			100			115			100
Net income available to common stockholders	$	16,233		$	14,346		$	12,955		$	14,917		$	13,902
Earnings per share - basic	$	0.63		$	0.56		$	0.51		$	0.60		$	0.56
Earnings per share - diluted	$	0.61		$	0.54		$	0.49		$	0.58		$	0.54

Average diluted shares outstanding		26,506,334			26,426,036			26,237,980			25,697,531			25,726,313

CONSOLIDATED BALANCE SHEET DATA
Total assets	$	4,772,601		$	4,492,539		$	4,393,342		$	4,098,679		$	3,952,799
Loans		4,044,242			3,863,734			3,607,852			3,359,858			3,159,772
Debt securities		334,635			335,008			336,505			327,665			332,351
Non-interest-bearing demand deposits		1,029,354			926,577			866,743			810,460			794,553
Total deposits		4,044,634			3,729,132			3,638,763			3,398,160			3,352,766
Borrowings		55,728			21,016			21,278			19,973			19,965
Stockholders' equity	$	431,194		$	454,487		$	441,458		$	407,213		$	393,136

Shares outstanding		25,903,698			25,826,198			25,653,610			24,801,518			24,791,436
Book value per share	$	16.65		$	16.05		$	15.65		$	14.81		$	14.25
Tangible book value per share (1)	$	15.96		$	15.35		$	14.95		$	14.81		$	14.25

SELECTED FINANCIAL RATIOS
Net interest margin		3.77	%		3.88	%		3.80	%		3.56	%		3.65	%
Return on average assets		1.38	%		1.31	%		1.26	%		1.47	%		1.45	%
Return on average common stockholders' equity		15.52	%		14.06	%		13.55	%		16.39	%		15.89	%
Efficiency ratio		40.13	%		41.66	%		46.74	%		34.98	%		42.16	%
Non-interest expense to average earning assets		1.63	%		1.73	%		1.90	%		1.34	%		1.66	%

CAPITAL RATIOS (2)
Common equity tier 1 capital to risk-weighted assets (3)		9.59	%		9.60	%		9.93	%		N/A			N/A
Tier 1 capital to risk-weighted assets		9.60	%		10.58	%		10.98	%		11.75	%		12.02	%
Total capital to risk-weighted assets		11.89	%		12.05	%		12.49	%		13.38	%		13.70	%
Tier 1 capital to average assets		8.83	%		9.88	%		10.07	%		9.91	%		10.18	%
Tangible common equity to total tangible assets (1)		8.70	%		8.86	%		8.76	%		8.96	%		8.93	%

(1) See "GAAP Reconciliation and Management Explanation of Non-GAAP Financial Measures" for a discussion of these Non-GAAP financial measures.

(2) Regulatory capital ratios for most recent period are preliminary.

(3) Basel III final capital rules, including the new Common Equity Tier 1 Capital to Risk-Weighted Assets ratio, became effective for the Company on January 1, 2015.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)

	September 30, 2015			September 30, 2014			% Change
ASSETS
Cash and due from banks	$	50,481		$	59,483			(15	)%
Interest-bearing balances due from depository institutions		165,982			277,984			(40	)%
Federal funds sold		26,229			6,566			299	%
Cash and cash equivalents		242,692			344,033			(29	)%
Available for sale debt securities, at fair value		306,666			302,303			1	%
Held to maturity debt securities (fair value of $28,511 and $30,248 at September 30, 2015 and 2014, respectively)		27,969			30,048			(7	)%
Restricted equity securities		4,954			3,418			45	%
Mortgage loans held for sale		5,387			9,037			(40	)%
Loans		4,044,242			3,159,772			28	%
Less allowance for loan losses		(42,574	)		(34,442	)		24	%
Loans, net		4,001,668			3,125,330			28	%
Premises and equipment, net		18,989			7,958			139	%
Goodwill and other identifiable intangible assets		17,756			-
Other assets		146,520			130,672			12	%
Total assets	$	4,772,601		$	3,952,799			21	%
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest-bearing	$	1,029,354		$	794,553			30	%
Interest-bearing		3,015,280			2,558,213			18	%
Total deposits		4,044,634			3,352,766			21	%
Federal funds purchased		228,415			178,230			28	%
Other borrowings		55,728			19,965			179	%
Other liabilities		12,630			8,702			45	%
Total liabilities		4,341,407			3,559,663			22	%
Stockholders' equity:
Preferred stock, Series A Senior Non-Cumulative Perpetual, par value $0.001 (liquidation preference $1,000), net of discount; 40,000 shares authorized, no shares issued and outstanding at September 30, 2015, and 40,000 shares issued and outstanding at September 30, 2014		-			39,958			(100	)%
Preferred stock, par value $0.001 per share; 1,000,000 authorized and 960,000 currently undesignated		-			-			-	%
Common stock, par value $0.0003 per share; 50,000,000 shares authorized; 25,903,698 shares issued and outstanding at September 30, 2015 and 24,791,436 shares issued and outstanding at September 30, 2014		26			25			4	%
Additional paid-in capital		210,331			184,797			14	%
Retained earnings		215,982			163,414			32	%
Accumulated other comprehensive income		4,478			4,690			(5	)%
Noncontrolling interest		377			252			50	%
Total stockholders' equity		431,194			393,136			10	%
Total liabilities and stockholders' equity	$	4,772,601		$	3,952,799			21	%

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In thousands except per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Interest income:
Interest and fees on loans	$	44,401	$	34,662	$	125,152	$	100,164
Taxable securities		1,041		1,131		3,273		3,354
Nontaxable securities		890		877		2,624		2,618
Federal funds sold		32		38		81		118
Other interest and dividends		168		149		394		308
Total interest income		46,532		36,857		131,524		106,562
Interest expense:
Deposits		3,818		3,123		10,600		9,164
Borrowed funds		852		415		1,814		1,252
Total interest expense		4,670		3,538		12,414		10,416
Net interest income		41,862		33,319		119,110		96,146
Provision for loan losses		3,072		2,748		9,539		7,500
Net interest income after provision for loan losses		38,790		30,571		109,571		88,646
Non-interest income:
Service charges on deposit accounts		1,279		1,172		3,762		3,097
Mortgage banking		873		582		2,062		1,540
Securities gains		-		3		29		3
Increase in cash surrender value life insurance		683		549		1,991		1,631
Other operating income		987		700		2,560		1,848
Total non-interest income		3,822		3,006		10,404		8,119
Non-interest expense:
Salaries and employee benefits		10,595		7,890		30,029		24,685
Equipment and occupancy expense		1,575		1,437		4,870		4,212
Professional services		668		829		1,901		1,877
FDIC and other regulatory assessments		681		533		1,927		1,578
Other real estate owned expense		400		220		903		1,005
Merger expense		-		-		2,100		-
Other operating expense		4,413		4,406		13,566		11,098
Total non-interest expense		18,332		15,315		55,296		44,455
Income before income tax		24,280		18,262		64,679		52,310
Provision for income tax		8,014		4,260		20,889		14,965
Net income		16,266		14,002		43,790		37,345
Dividends on preferred stock		33		100		256		316
Net income available to common stockholders	$	16,233	$	13,902	$	43,534	$	37,029
Basic earnings per common share	$	0.63	$	0.56	$	1.70	$	1.57
Diluted earnings per common share	$	0.61	$	0.54	$	1.65	$	1.51

LOANS BY TYPE (UNAUDITED)

(In thousands)

	3rd Quarter 2015		2nd Quarter 2015		1st Quarter 2015		4th Quarter 2014		3rd Quarter 2014
Commercial, financial and agricultural	$	1,671,014	$	1,630,134	$	1,543,531	$	1,495,092	$	1,382,607
Real estate - construction		232,895		219,607		219,005		208,769		194,506
Real estate - mortgage:
Owner-occupied commercial		978,721		930,719		869,724		793,917		773,432
1-4 family mortgage		417,012		392,245		375,770		333,455		314,778
Other mortgage		677,822		627,099		545,668		471,363		443,245
Subtotal: Real estate - mortgage		2,073,555		1,950,063		1,791,162		1,598,735		1,531,455
Consumer		66,778		63,930		54,154		57,262		51,204
Total loans	$	4,044,242	$	3,863,734	$	3,607,852	$	3,359,858	$	3,159,772

SUMMARY OF LOAN LOSS EXPERIENCE (UNAUDITED)

(Dollars in thousands)

	3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014			3rd Quarter 2014
Allowance for loan losses:
Beginning balance	$	40,020		$	37,356		$	35,629		$	34,442		$	32,984
Loans charged off:
Commercial financial and agricultural		388			1,151			77			416			531
Real estate - construction		31			93			382			309			610
Real estate - mortgage		-			208			433			922			149
Consumer		126			19			5			21			131
Total charge offs		545			1,471			897			1,668			1,421
Recoveries:
Commercial financial and agricultural		13			6			19			2			-
Real estate - construction		13			65			99			37			97
Real estate - mortgage		1			2			101			46			14
Consumer		-			-			-			11			20
Total recoveries		27			73			219			96			131
Net charge-offs		518			1,398			678			1,572			1,290
Provision for loan losses		3,072			4,062			2,405			2,759			2,748
Ending balance	$	42,574		$	40,020		$	37,356		$	35,629		$	34,442

Allowance for loan losses to total loans		1.05	%		1.04	%		1.04	%		1.06	%		1.09	%
Allowance for loan losses to total average loans		1.08	%		1.07	%		1.07	%		1.10	%		1.11	%
Net charge-offs to total average loans		0.05	%		0.15	%		0.08	%		0.19	%		0.17	%
Provision for loan losses to total average loans		0.31	%		0.44	%		0.28	%		0.34	%		0.35	%
Nonperforming assets:
Nonaccrual loans	$	9,850		$	8,194		$	8,361		$	9,125		$	16,078
Loans 90+ days past due and accruing		524			470			553			925			1,190
Other real estate owned and repossessed assets		6,068			8,235			8,638			6,840			6,940
Total	$	16,442		$	16,899		$	17,552		$	16,890		$	24,208

Nonperforming loans to total loans		0.26	%		0.22	%		0.25	%		0.30	%		0.55	%
Nonperforming assets to total assets		0.34	%		0.38	%		0.40	%		0.41	%		0.61	%
Nonperforming assets to earning assets		0.35	%		0.38	%		0.41	%		0.42	%		0.62	%
Reserve for loan losses to nonaccrual loans		432.22	%		488.41	%		446.79	%		390.45	%		214.22	%

Restructured accruing loans	$	8,266		$	8,279		$	8,280		$	8,295		$	2,067

Restructured accruing loans to total loans		0.20	%		0.21	%		0.23	%		0.25	%		0.07	%

TROUBLED DEBT RESTRUCTURINGS (TDRs) (UNAUDITED)

(In thousands)

	3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014			3rd Quarter 2014
Beginning balance:	$	8,279		$	8,280		$	8,992		$	7,932		$	9,217
Additions		-			-			-			6,250			-
Net (paydowns) / advances		(13	)		(1	)		(381	)		(4,492	)		(802	)
Charge-offs		-			-			(331	)		(698	)		(483	)
	$	8,266		$	8,279		$	8,280		$	8,992		$	7,932

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In thousands except per share data)

	3rd Quarter 2015		2nd Quarter 2015		1st Quarter 2015		4th Quarter 2014		3rd Quarter 2014
Interest income:
Interest and fees on loans	$	44,401	$	42,105	$	38,646	$	35,902	$	34,662
Taxable securities		1,041		1,104		1,128		1,143		1,131
Nontaxable securities		890		874		860		871		877
Federal funds sold		32		24		77		41		38
Other interest and dividends		168		102		72		206		149
Total interest income		46,532		44,209		40,783		38,163		36,857
Interest expense:
Deposits		3,818		3,512		3,270		3,256		3,123
Borrowed funds		852		486		476		447		415
Total interest expense		4,670		3,998		3,746		3,703		3,538
Net interest income		41,862		40,211		37,037		34,460		33,319
Provision for loan losses		3,072		4,062		2,405		2,759		2,748
Net interest income after provision for loan losses		38,790		36,149		34,632		31,701		30,571
Non-interest income:
Service charges on deposit accounts		1,279		1,276		1,207		1,168		1,172
Mortgage banking		873		735		454		507		582
Securities gains		-		-		29		-		3
Increase in cash surrender value life insurance		683		660		648		649		549
Other operating income		987		834		739		786		700
Total non-interest income		3,822		3,505		3,077		3,110		3,006
Non-interest expense:
Salaries and employee benefits		10,595		10,426		9,008		6,332		7,890
Equipment and occupancy expense		1,575		1,634		1,661		1,335		1,437
Professional services		668		665		568		558		829
FDIC and other regulatory assessments		681		626		620		516		533
Other real estate owned expense		400		289		214		528		220
Merger expense		-		-		2,096		-		-
Other operating expense		4,413		4,573		4,584		3,874		4,406
Total non-interest expense		18,332		18,213		18,751		13,142		15,315
Income before income tax		24,280		21,441		18,958		21,668		18,262
Provision for income tax		8,014		6,972		5,903		6,636		4,260
Net income		16,266		14,469		13,055		15,032		14,002
Dividends on preferred stock		33		123		100		115		100
Net income available to common stockholders	$	16,233	$	14,346	$	12,955	$	14,917	$	13,902
Basic earnings per common share	$	0.63	$	0.56	$	0.51	$	0.60	$	0.56
Diluted earnings per common share	$	0.61	$	0.54	$	0.49	$	0.58	$	0.54

AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)

ON A FULLY TAXABLE-EQUIVALENT BASIS

(Dollars in thousands)

	3rd Quarter 2015					2nd Quarter 2015					1st Quarter 2015					4th Quarter 2014					3rd Quarter 2014
	Average Balance		Yield / Rate			Average Balance		Yield / Rate			Average Balance		Yield / Rate			Average Balance		Yield / Rate			Average Balance		Yield / Rate
Assets:
Interest-earning assets:
Loans, net of unearned income (1)
Taxable	$	3,915,778		4.48	%	$	3,731,699		4.51	%	$	3,492,363		4.47	%	$	3,215,400		4.41	%	$	3,081,435		4.44	%
Tax-exempt (2)		9,802		4.94			10,005		5.01			10,180		5.10			10,367		4.94			12,043		4.25
Mortgage loans held for sale		7,714		4.32			12,718		2.21			6,884		2.12			3,410		6.05			6,861		3.64
Debt securities:
Taxable		189,941		2.19			193,848		2.28			198,104		2.28			195,533		2.32			195,220		2.31
Tax-exempt (2)		139,543		3.95			136,104		3.93			129,525		4.02			127,909		4.19			126,512		4.08
Total securities (3)		329,484		2.94			329,952		2.96			327,629		2.97			323,442		3.06			321,732		3.01
Federal funds sold		24,860		0.51			26,638		0.36			39,438		0.27			68,640		0.24			57,625		0.27
Restricted equity securities		4,954		4.16			4,953		3.16			4,354		3.63			3,418		3.95			3,418		3.83
Interest-bearing balances with banks		168,548		0.27			97,482		0.26			119,195		0.28			273,496		0.26			185,716		0.25
Total interest-earning assets		4,461,140		4.18	%		4,213,447		4.26	%		4,000,043		4.18	%		3,898,173		3.94	%		3,668,830		4.03	%
Non-interest-earning assets:
Cash and due from banks		63,259					58,347					61,911					58,973					58,340
Net premises and equipment		18,961					16,323					13,847					8,315					8,310
Allowance for loan losses, accrued interest and other assets		127,778					129,233					117,612					101,831					86,901
Total assets	$	4,671,136				$	4,417,350				$	4,193,413				$	4,067,292				$	3,822,381

Interest-bearing liabilities:
Interest-bearing deposits:
Checking	$	593,550		0.28	%	$	579,650		0.27	%	$	553,569		0.26	%	$	511,451		0.26	%	$	484,291		0.26	%
Savings		37,281		0.30			37,697		0.28			36,128		0.28			28,806		0.29			26,584		0.28
Money market		1,817,997		0.47			1,653,708		0.45			1,618,715		0.44			1,645,533		0.45			1,555,091		0.44
Time deposits		485,137		0.99			480,140		1.05			446,084		1.05			395,598		1.03			394,158		1.05
Federal funds purchased		246,168		0.31			275,888		0.29			270,549		0.28			231,135		0.28			187,629		0.28
Other borrowings		50,509		5.18			21,238		5.40			20,455		5.65			19,969		5.62			19,961		5.62
Total interest-bearing liabilities		3,230,642		0.57	%		3,048,321		0.53	%		2,925,500		0.52	%		2,832,492		0.52	%		2,667,714		0.53	%
Non-interest-bearing liabilities:
Non-interest-bearing demand		988,756					908,020					813,340					823,738					751,831
Other liabilities		23,738					11,793					6,745					9,969					15,838
Stockholders' equity		424,113					444,302					422,847					395,981					382,025
Unrealized gains on securities and derivatives		3,911					4,914					4,981					5,112					4,973
Total liabilities and stockholders' equity	$	4,671,136				$	4,417,350				$	4,193,413				$	4,067,292				$	3,822,381
Net interest spread				3.61	%				3.73	%				3.66	%				3.42	%				3.50	%
Net interest margin				3.77	%				3.88	%				3.80	%				3.56	%				3.65	%

(1)

Average loans include loans on which the accrual of interest has been discontinued.

(2)

Interest income and yields are presented on a fully taxable equivalent basis using a tax rate of 35%.

(3)

Unrealized gains on available-for-sale debt securities are excluded from the yield calculation.