Exhibit 99.1

SERVISFIRST BANCSHARES, INC.

Announces Results For Fourth Quarter of 2015

Birmingham, Ala. – (PR Newswire) – January 25, 2016 – ServisFirst Bancshares, Inc. (NASDAQ: SFBS), today announced earnings and operating results for the quarter and year ended December 31, 2015.

Fourth Quarter 2015 Highlights:

Diluted earnings per share increased 28% from $0.58 to $0.74 year over year

Diluted earnings per share increased 21% from $0.61 to $0.74 on a linked quarter basis

Net income for the quarter increased 31% year over year

Organic loan and deposit growth for the year of 20% and 18%, respectively

Fourth quarter annualized loan and deposit growth of 17% and 18%, respectively, on a linked quarter basis

Entry into the Tampa Bay, Florida area with hire of a new regional CEO

Tom Broughton, President and CEO, said, “We are pleased to welcome our new banking team in the Tampa Bay area led by Greg Bryant, a highly experienced and well known banker in the area.” Bud Foshee, CFO, stated, “2015 was a strong year in financial performance and growth.”

ServisFirst announces the hiring of Greg Bryant as Executive Vice President and Regional CEO. A temporary loan production office will be opened in Pasco County, for up to a year before a permanent office is established in Tampa Bay, Florida. Greg was formerly the President & CEO of Bay Cities Bank prior to the sale of the bank.

FINANCIAL SUMMARY (UNAUDITED)

(in Thousands except share and per share amounts)

	Period Ending December 31, 2015			Period Ending September 30, 2015			% Change From Period Ending September 30, 2015 to Period Ending December 31, 2015			Period Ending December 31, 2014			% Change From Period Ending December 31, 2014 to Period Ending December 31, 2015
QUARTERLY OPERATING RESULTS
Net Income	$	19,750		$	16,266			21	%	$	15,032			31	%
Net Income Available to Common Stockholders	$	19,726		$	16,233			22	%	$	14,917			32	%
Diluted Earnings Per Share	$	0.74		$	0.61			21	%	$	0.58			28	%
Return on Average Assets		1.55	%		1.38	%					1.47	%
Return on Average Common Stockholders' Equity		17.75	%		15.52	%					16.39	%
Average Diluted Shares Outstanding		26,595,239			26,506,334						25,697,531

YEAR-TO-DATE OPERATING RESULTS
Net Income	$	63,540								$	52,377			21	%
Net Income Available to Common Stockholders	$	63,260								$	51,946			22	%
Diluted Earnings Per Share	$	2.39								$	2.09			14	%
Return on Average Assets		1.38	%								1.39	%
Return on Average Common Stockholders' Equity		15.30	%								16.23	%
Average Diluted Shares Outstanding		26,442,554									24,818,221

Core Net Income*	$	65,307								$	53,989			21	%
Core Net Income Available to Common Stockholders*	$	65,027								$	53,558			21	%
Core Diluted Earnings Per Share*	$	2.46								$	2.16			14	%
Core Return on Average Assets*		1.42	%								1.44	%
Core Return on Average Common Stockholders' Equity*		15.73	%								16.74	%

BALANCE SHEET
Total Assets	$	5,095,509		$	4,772,601			7	%	$	4,098,679			24	%
Loans		4,216,375			4,044,242			4	%		3,359,858			25	%
Non-interest-bearing Demand Deposits		1,053,467			1,029,354			2	%		810,460			30	%
Total Deposits		4,223,888			4,044,634			4	%		3,398,160			24	%
Stockholders' Equity		449,147			431,194			4	%		407,213			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 $19.8 million and net income available to common stockholders of $19.7 million for the quarter ended December 31 2015, compared to net income of $15.0 million and net income available to common stockholders of $14.9 million for the same quarter in 2014. Basic and diluted earnings per common share were $0.76 and $0.74, respectively, for the fourth quarter of 2015, compared to $0.60 and $0.58, respectively, for the fourth quarter of 2014.

Return on average assets was 1.55% and return on average common stockholders’ equity was 17.75% for the fourth quarter of 2015, compared to 1.47% and 16.39%, respectively, for the fourth quarter of 2014.

Net interest income was $43.2 million for the fourth quarter of 2015, compared to $41.9 million for the third quarter of 2015 and $34.5 million for the fourth quarter of 2014. The increase in net interest income on a linked quarter basis is attributable to a $197.1 million increase in average loans outstanding and a $74.0 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 net interest margin in the fourth quarter of 2015 was 3.56%, a 21 basis point decrease from the third quarter of 2015 and unchanged from the fourth quarter of 2014. Excess liquidity during the fourth quarters of 2015 and 2014 drives an unfavorable volume component change when compared to their respective comparable linked quarters. The average yield on loans decreased 9 basis points to 4.44% on a linked quarter basis. Three basis points of this decrease are attributable to a $318,000 decrease in the accretion on acquired loans. Excluding accretion on acquired loans, the net interest margin decreased 22 basis points from the third quarter to the fourth quarter of 2015. Average rates paid on interest-bearing liabilities increased from 0.58% in the third quarter to 0.60% in the fourth quarter of 2015. The higher rates paid on federal funds purchased from our correspondent banks was the result of the 0.25% increase in the Federal Reserve’s targeted rate in early December 2015.

Average loans for the fourth quarter of 2015 were $4.12 billion, an increase of $197.1 million, or 5%, over average loans of $3.93 billion for the third quarter of 2015, and an increase of $896.9 million, or 28%, over average loans of $3.23 billion for the fourth quarter of 2014.

Average total deposits for the fourth quarter of 2015 were $4.21 billion, an increase of $288.1 million, or 7%, over average total deposits of $3.92 billion for the third quarter of 2015, and an increase of $805.7 million, or 24%, over average total deposits of $3.41 billion for the fourth quarter of 2014.

Non-performing assets to total assets were 0.26% for the fourth quarter of 2015, a decrease of 8 basis points compared to 0.34% for the third quarter of 2015 and a decrease of 15 basis points compared to 0.41% for the fourth quarter of 2014. Net credit charge-offs to average loans were 0.24%, a 19 basis point increase compared to 0.05% for the third quarter of 2015 and a 5 basis point increase compared to 0.19% for the fourth quarter of 2014. We recorded a $3.3 million provision for loan losses in the fourth quarter of 2015 compared to $3.1 million in the third quarter of 2015 and $2.8 million in the fourth quarter of 2014. The allowance for loan loss as a percentage of total loans was 1.03% at December 31, 2015, a decrease of 2 basis points compared to 1.05% at September 30, 2015 and a decrease of 3 basis points compared to 1.06% at December 31, 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 $449,000 during the fourth quarter of 2015, or 14%, compared to the fourth quarter of 2014. Service charges on deposit accounts increased $158,000, or 14%, compared to the fourth quarter of 2014, resulting from an increase in the number of accounts and transactions. Mortgage banking revenue increased $113,000, or 22%, compared to the fourth quarter of 2014. Interchange income on credit card transactions, included in other operating income, increased $140,000, or 25%, compared to the fourth quarter of 2014, resulting from an increase in the number of credit card accounts.

Non-interest expense for the fourth quarter of 2015 increased $5.9 million, or 45%, to $19.1 million from $13.1 million in the fourth quarter of 2014, and increased $754,000, or 4%, on a linked quarter basis. Salary and benefit expense for the fourth quarter of 2015 increased $2.6 million, or 41%, to $8.9 million from $6.3 million in the fourth quarter of 2014, and decreased $1.7 million, or 16%, on a linked quarter basis. We reversed $2.0 million of accrued incentive pay during the fourth quarter of 2015 and reversed $1.0 million of accrued incentive pay during the fourth quarter of 2014. Excluding these reversals, salary and benefit expenses increased $3.6 million year over year and increased $0.3 million 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. Other operating expense for the fourth quarter of 2015 increased $3.0 million, or 79%, to $6.9 million from $3.9 million in the fourth quarter of 2014, and increased $2.5 million, or 57%, on a linked quarter basis. Included in these increases were $2.4 million of write-downs in equity investments in tax credit partnerships during the fourth quarter of 2015.

Tax expense for the fourth quarter of 2015 decreased $2.1 million compared to the fourth quarter of 2014, and decreased $3.4 million on a linked quarter basis. Effective tax rates for the fourth quarter of 2015, third quarter of 2015 and fourth quarter of 2014 were 18.81%, 33.00% and 30.63%, respectively. The lower rate in the fourth quarter of 2015 was primarily the result of recognition of federal historic tax credits.

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 on 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 years ended December 31, 2015 and December 31, 2014 included in this press release. Dollars are in thousands, except share and per share data.

	2015			2014
Provision for income taxes - GAAP	$	25,465		$	21,601
Adjustments:
Adjustment for non-routine expense		829			865
Core provision for income taxes	$	26,294		$	22,466

Return on average assets - GAAP		1.38	%		1.39	%
Net income - GAAP	$	63,540		$	52,377
Adjustments:
Adjustment for non-routine expense		1,767			1,612
Core net income	$	65,307		$	53,989
Average assets	$	4,591,860		$	3,757,932
Core return on average assets		1.42	%		1.44	%

Return on average common stockholders' equity		15.30	%		16.23	%
Net income available to common stockholders - GAAP	$	63,260		$	51,946
Adjustments:
Adjustment for non-routine expense		1,767			1,612
Core net income available to common stockholders	$	65,027		$	53,558
Average common stockholders' equity	$	413,445		$	320,005
Core return on average common stockholders' equity		15.73	%		16.74	%

Earnings per share - diluted - GAAP	$	2.39		$	2.09
Weighted average shares outstanding, diluted		26,442,554			24,818,221
Core diluted earnings per share	$	2.46		$	2.16

Book value per share	$	17.29		$	14.81
Total common stockholders' equity - GAAP		449,147			367,255
Adjustments:
Adjusted for goodwill and other identifiable intangible assets		15,330			-
Tangible common stockholders' equity	$	433,817		$	367,255
Tangible book value per share	$	16.70		$	14.81

Common stockholders' equity to total assets		8.81	%		8.96	%
Total assets - GAAP	$	5,095,509		$	4,098,679
Adjustments:
Adjusted for goodwill and other identifiable intangible assets		15,330			-
Total tangible assets		5,080,179			4,098,679
Tangible common equity to total tangible assets		8.54	%		8.96	%

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 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. 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)

	4th Quarter 2015			3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014
CONSOLIDATED STATEMENT OF INCOME
Interest income	$	48,451		$	46,532		$	44,209		$	40,783		$	38,163
Interest expense		5,290			4,670			3,998			3,746			3,703
Net interest income		43,161			41,862			40,211			37,037			34,460
Provision for loan losses		3,308			3,072			4,062			2,405			2,759
Net interest income after provision for loan losses		39,853			38,790			36,149			34,632			31,701
Non-interest income		3,559			3,822			3,505			3,077			3,110
Non-interest expense		19,086			18,332			18,213			18,751			13,143
Income before income tax		24,326			24,280			21,441			18,958			21,668
Provision for income tax		4,576			8,014			6,972			5,903			6,636
Net income		19,750			16,266			14,469			13,055			15,032
Preferred stock dividends		24			33			123			100			115
Net income available to common stockholders	$	19,726		$	16,233		$	14,346		$	12,955		$	14,917
Earnings per share - basic	$	0.76		$	0.63		$	0.56		$	0.51		$	0.60
Earnings per share - diluted	$	0.74		$	0.61		$	0.54		$	0.49		$	0.58
Average diluted shares outstanding		26,595,239			26,506,334			26,426,036			26,237,980			25,697,531

CONSOLIDATED BALANCE SHEET DATA
Total assets	$	5,095,509		$	4,772,601		$	4,492,539		$	4,393,342		$	4,098,679
Loans		4,216,375			4,044,242			3,863,734			3,607,852			3,359,858
Debt securities		370,364			334,635			335,008			336,505			327,665
Non-interest-bearing demand deposits		1,053,467			1,029,354			926,577			866,743			810,460
Total deposits		4,223,888			4,044,634			3,729,132			3,638,763			3,398,160
Borrowings		55,748			55,728			21,016			21,278			19,973
Stockholders' equity	$	449,147		$	431,194		$	454,487		$	441,458		$	407,213

Shares outstanding		25,972,698			25,903,698			25,826,198			25,653,610			24,801,518
Book value per share	$	17.29		$	16.65		$	16.05		$	15.65		$	14.81
Tangible book value per share (1)	$	16.70		$	15.96		$	15.35		$	14.95		$	14.81

SELECTED FINANCIAL RATIOS
Net interest margin		3.56	%		3.77	%		3.88	%		3.80	%		3.56	%
Return on average assets		1.55	%		1.38	%		1.31	%		1.26	%		1.47	%
Return on average common stockholders' equity		17.75	%		15.52	%		14.06	%		13.55	%		16.39	%
Efficiency ratio		40.85	%		40.13	%		41.66	%		46.74	%		34.98	%
Non-interest expense to average earning assets		1.56	%		1.63	%		1.73	%		1.90	%		1.34	%

CAPITAL RATIOS (2)
Common equity tier 1 capital to risk-weighted assets (3)		9.72	%		9.59	%		9.60	%		9.93	%		N/A
Tier 1 capital to risk-weighted assets		9.73	%		9.60	%		10.58	%		10.98	%		11.75	%
Total capital to risk-weighted assets		11.95	%		11.89	%		12.05	%		12.49	%		13.38	%
Tier 1 capital to average assets		8.55	%		8.83	%		9.88	%		10.07	%		9.91	%
Tangible common equity to total tangible assets (1)		8.54	%		8.70	%		8.86	%		8.76	%		8.96	%

(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)

	December 31, 2015			December 31, 2014			% Change
ASSETS
Cash and due from banks	$	46,614		$	48,519			(4	)%
Interest-bearing balances due from depository institutions		270,836			248,054			9	%
Federal funds sold		34,785			891			3,804	%
Cash and cash equivalents		352,235			297,464			18	%
Available for sale debt securities, at fair value		342,938			298,310			15	%
Held to maturity debt securities (fair value of $27,910 and $29,974 at
December 31, 2015 and 2014, respectively)		27,426			29,355			(7	)%
Restricted equity securities		4,954			3,921			26	%
Mortgage loans held for sale		8,249			5,984			38	%
Loans		4,216,375			3,359,858			25	%
Less allowance for loan losses		(43,419	)		(35,629	)		22	%
Loans, net		4,172,956			3,324,229			26	%
Premises and equipment, net		19,434			7,815			149	%
Goodwill and other identifiable intangible assets		15,330			-
Other assets		151,987			131,601			15	%
Total assets	$	5,095,509		$	4,098,679			24	%
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Deposits:
Non-interest-bearing	$	1,053,467		$	810,460			30	%
Interest-bearing		3,170,421			2,587,700			23	%
Total deposits		4,223,888			3,398,160			24	%
Federal funds purchased		352,360			264,315			33	%
Other borrowings		55,748			19,973			179	%
Other liabilities		14,366			9,018			59	%
Total liabilities		4,646,362			3,691,466			26	%
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 December 31, 2015, and
40,000 shares issued and outstanding at December 31, 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 $0.001 per share; 50,000,000 shares authorized;
25,972,698 shares issued and outstanding at December 31, 2015 and
24,801,518 shares issued and outstanding at December 31, 2014		26			25			4	%
Additional paid-in capital		211,546			185,397			14	%
Retained earnings		234,150			177,091			32	%
Accumulated other comprehensive income		3,048			4,490			(32	)%
Noncontrolling interest		377			252			50	%
Total stockholders' equity		449,147			407,213			10	%
Total liabilities and stockholders' equity	$	5,095,509		$	4,098,679			24	%

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In thousands except per share data)

	Three Months Ended December 31,				Year Ended December 31,
	2015		2014		2015		2014
Interest income:
Interest and fees on loans	$	46,150	$	35,902	$	171,302	$	136,066
Taxable securities		1,058		1,143		4,331		4,497
Nontaxable securities		875		871		3,499		3,489
Federal funds sold		46		41		127		159
Other interest and dividends		322		206		716		514
Total interest income		48,451		38,163		179,975		144,725
Interest expense:
Deposits		4,294		3,256		14,894		12,420
Borrowed funds		996		447		2,810		1,699
Total interest expense		5,290		3,703		17,704		14,119
Net interest income		43,161		34,460		162,271		130,606
Provision for loan losses		3,308		2,759		12,847		10,259
Net interest income after provision for loan losses		39,853		31,701		149,424		120,347
Non-interest income:
Service charges on deposit accounts		1,326		1,168		5,088		4,265
Mortgage banking		620		507		2,682		2,047
Securities gains		-		-		29		3
Increase in cash surrender value life insurance		630		649		2,621		2,280
Other operating income		983		786		3,543		2,634
Total non-interest income		3,559		3,110		13,963		11,229
Non-interest expense:
Salaries and employee benefits		8,884		6,332		38,913		31,017
Equipment and occupancy expense		1,519		1,335		6,389		5,547
Professional services		706		558		2,607		2,435
FDIC and other regulatory assessments		733		516		2,660		2,094
Other real estate owned expense		324		528		1,227		1,533
Merger expense		-		-		2,100		-
Other operating expense		6,920		3,874		20,486		14,972
Total non-interest expense		19,086		13,143		74,382		57,598
Income before income tax		24,326		21,668		89,005		73,978
Provision for income tax		4,576		6,636		25,465		21,601
Net income		19,750		15,032		63,540		52,377
Dividends on preferred stock		24		115		280		431
Net income available to common stockholders	$	19,726	$	14,917	$	63,260	$	51,946
Basic earnings per common share	$	0.76	$	0.60	$	2.46	$	2.18
Diluted earnings per common share	$	0.74	$	0.58	$	2.39	$	2.09

LOANS BY TYPE (UNAUDITED)

(In thousands)

	4th Quarter 2015		3rd Quarter 2015		2nd Quarter 2015		1st Quarter 2015		4th Quarter 2014
Commercial, financial and agricultural	$	1,760,479	$	1,683,819	$	1,642,182	$	1,554,020	$	1,504,652
Real estate - construction		243,267		232,895		219,607		219,005		208,769
Real estate - mortgage:
Owner-occupied commercial		1,014,669		978,721		930,719		869,724		793,917
1-4 family mortgage		444,134		417,012		392,245		375,770		333,455
Other mortgage		698,779		677,822		627,099		545,668		471,363
Subtotal: Real estate - mortgage		2,157,582		2,073,555		1,950,063		1,791,162		1,598,735
Consumer		55,047		53,973		51,882		43,665		47,702
Total loans	$	4,216,375	$	4,044,242	$	3,863,734	$	3,607,852	$	3,359,858

SUMMARY OF LOAN LOSS EXPERIENCE (UNAUDITED)

(Dollars in thousands)

	4th Quarter 2015			3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014
Allowance for loan losses:
Beginning balance	$	42,574		$	40,020		$	37,356		$	35,629		$	34,442
Loans charged off:
Commercial financial and agricultural		2,186			388			1,151			77			416
Real estate - construction		161			31			93			382			309
Real estate - mortgage		463			-			208			433			922
Consumer		21			126			19			5			21
Total charge offs		2,831			545			1,471			897			1,668
Recoveries:
Commercial financial and agricultural		241			13			6			19			2
Real estate - construction		61			13			65			99			37
Real estate - mortgage		65			1			2			101			46
Consumer		1			-			-			-			11
Total recoveries		368			27			73			219			96
Net charge-offs		2,463			518			1,398			678			1,572
Provision for loan losses		3,308			3,072			4,062			2,405			2,759
Ending balance	$	43,419		$	42,574		$	40,020		$	37,356		$	35,629

Allowance for loan losses to total loans		1.03	%		1.05	%		1.04	%		1.04	%		1.06	%
Allowance for loan losses to total average
loans		1.05	%		1.08	%		1.07	%		1.07	%		1.10	%
Net charge-offs to total average loans		0.24	%		0.05	%		0.15	%		0.08	%		0.19	%
Provision for loan losses to total average
loans		0.32	%		0.31	%		0.44	%		0.28	%		0.34	%
Nonperforming assets:
Nonaccrual loans	$	7,767		$	9,850		$	8,194		$	8,361		$	9,125
Loans 90+ days past due and accruing		1			524			470			553			925
Other real estate owned and
repossessed assets		5,392			6,068			8,235			8,638			6,840
Total	$	13,160		$	16,442		$	16,899		$	17,552		$	16,890

Nonperforming loans to total loans		0.18	%		0.26	%		0.22	%		0.25	%		0.30	%
Nonperforming assets to total assets		0.26	%		0.34	%		0.38	%		0.40	%		0.41	%
Nonperforming assets to earning assets		0.26	%		0.35	%		0.38	%		0.41	%		0.42	%
Reserve for loan losses to nonaccrual loans		559.02	%		432.22	%		488.41	%		446.79	%		390.45	%

Restructured accruing loans	$	6,782		$	8,266		$	8,279		$	8,280		$	8,292

Restructured accruing loans to total loans		0.16	%		0.20	%		0.21	%		0.23	%		0.25	%

TROUBLED DEBT RESTRUCTURINGS (TDRs) (UNAUDITED)

(In thousands)

	4th Quarter 2015			3rd Quarter 2015			2nd Quarter 2015			1st Quarter 2015			4th Quarter 2014
Beginning balance:	$	8,266		$	8,279		$	8,280		$	8,992		$	7,932
Additions		-			-			-			-			6,250
Net (paydowns) / advances		(83	)		(13	)		(1	)		(381	)		(4,492	)
Charge-offs		(447	)		-			-			(331	)		(698	)
	$	7,736		$	8,266		$	8,279		$	8,280		$	8,992

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(In thousands except per share data)

	4th Quarter 2015		3rd Quarter 2015		2nd Quarter 2015		1st Quarter 2015		4th Quarter 2014
Interest income:
Interest and fees on loans	$	46,150	$	44,401	$	42,105	$	38,646	$	35,902
Taxable securities		1,058		1,041		1,104		1,128		1,143
Nontaxable securities		875		890		874		860		871
Federal funds sold		46		32		24		77		41
Other interest and dividends		322		168		102		72		206
Total interest income		48,451		46,532		44,209		40,783		38,163
Interest expense:
Deposits		4,294		3,818		3,512		3,270		3,256
Borrowed funds		996		852		486		476		447
Total interest expense		5,290		4,670		3,998		3,746		3,703
Net interest income		43,161		41,862		40,211		37,037		34,460
Provision for loan losses		3,308		3,072		4,062		2,405		2,759
Net interest income after provision for loan losses		39,853		38,790		36,149		34,632		31,701
Non-interest income:
Service charges on deposit accounts		1,326		1,279		1,276		1,207		1,168
Mortgage banking		620		873		735		454		507
Securities gains		-		-		-		29		-
Increase in cash surrender value life insurance		630		683		660		648		649
Other operating income		983		987		834		739		786
Total non-interest income		3,559		3,822		3,505		3,077		3,110
Non-interest expense:
Salaries and employee benefits		8,884		10,595		10,426		9,008		6,332
Equipment and occupancy expense		1,519		1,575		1,634		1,661		1,335
Professional services		706		668		665		568		558
FDIC and other regulatory assessments		733		681		626		620		516
Other real estate owned expense		324		400		289		214		528
Merger expense		-		-		-		2,096		-
Other operating expense		6,920		4,413		4,573		4,584		3,874
Total non-interest expense		19,086		18,332		18,213		18,751		13,142
Income before income tax		24,326		24,280		21,441		18,958		21,668
Provision for income tax		4,576		8,014		6,972		5,903		6,636
Net income		19,750		16,266		14,469		13,055		15,032
Dividends on preferred stock		24		33		123		100		115
Net income available to common stockholders	$	19,726	$	16,233	$	14,346	$	12,955	$	14,917
Basic earnings per common share	$	0.76	$	0.63	$	0.56	$	0.51	$	0.60
Diluted earnings per common share	$	0.74	$	0.61	$	0.54	$	0.49	$	0.58

AVERAGE BALANCE SHEETS AND NET INTEREST ANALYSIS (UNAUDITED)

ON A FULLY TAXABLE-EQUIVALENT BASIS

(Dollars in thousands)

	4th Quarter 2015					3rd Quarter 2015					2nd Quarter 2015					1st Quarter 2015					4th 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	$	4,113,044		4.44	%	$	3,915,778		4.48	%	$	3,731,699		4.51	%	$	3,492,363		4.47	%	$	3,215,400		4.41	%
Tax-exempt (2)		9,639		4.98			9,802		4.98			10,005		5.00			10,180		5.03			10,367		4.98
Mortgage loans held for sale		4,362		4.27			7,714		4.32			12,718		2.21			6,884		2.12			3,410		6.05
Debt securities:
Taxable		193,982		2.18			189,941		2.19			193,848		2.28			198,104		2.28			195,533		2.32
Tax-exempt (2)		139,435		3.88			139,543		3.95			136,104		3.93			129,525		4.02			127,909		4.19
Total securities (3)		333,417		2.89			329,484		2.94			329,952		2.96			327,629		2.97			323,442		3.06
Federal funds sold		33,255		0.55			24,860		0.51			26,638		0.36			39,438		0.27			68,640		0.24
Restricted equity securities		4,954		4.24			4,954		4.16			4,953		3.16			4,354		3.63			3,418		3.95
Interest-bearing balances with banks		366,771		0.29			168,548		0.27			97,482		0.26			119,195		0.28			273,496		0.26
Total interest-earning assets		4,865,442		3.99	%		4,461,140		4.18	%		4,213,447		4.26	%		4,000,043		4.18	%		3,898,173		3.94	%
Non-interest-earning assets:
Cash and due from banks		62,037					63,259					58,347					61,911					58,973
Net premises and equipment		19,609					18,961					16,323					13,847					8,315
Allowance for loan losses,
accrued interest and
other assets		124,241					127,778					129,233					117,612					101,831
Total assets	$	5,071,329				$	4,671,136				$	4,417,350				$	4,193,413				$	4,067,292

Interest-bearing liabilities:
Interest-bearing deposits:
Checking	$	611,521		0.30	%	$	593,550		0.28	%	$	579,650		0.27	%	$	553,569		0.26	%	$	511,451		0.26	%
Savings		39,590		0.29			37,281		0.30			37,697		0.28			36,128		0.28			28,806		0.29
Money market		2,048,453		0.49			1,817,997		0.47			1,653,708		0.45			1,618,715		0.44			1,645,533		0.45
Time deposits		503,217		1.00			485,137		0.99			480,140		1.05			446,084		1.05			395,598		1.03
Federal funds purchased		295,530		0.37			246,168		0.31			275,888		0.29			270,549		0.28			231,135		0.28
Other borrowings		55,805		5.11			50,509		5.18			21,238		5.40			20,455		5.65			19,969		5.62
Total interest-bearing liabilities		3,554,116		0.59	%		3,230,642		0.57	%		3,048,321		0.53	%		2,925,500		0.52	%		2,832,492		0.52	%
Non-interest-bearing liabilities:
Non-interest-bearing
demand		1,062,795					988,756					908,020					813,340					823,738
Other liabilities		13,469					23,738					11,793					6,745					9,969
Stockholders' equity		436,928					424,113					444,302					422,847					395,981
Unrealized gains on securities and
derivatives		4,021					3,911					4,914					4,981					5,112
Total liabilities and
stockholders' equity	$	5,071,329				$	4,671,136				$	4,417,350				$	4,193,413				$	4,067,292
Net interest spread				3.40	%				3.61	%				3.73	%				3.66	%				3.42	%
Net interest margin				3.56	%				3.77	%				3.88	%				3.80	%				3.56	%

(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.