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

Quarterly report pursuant to Section 13 or 15(d)

LOANS (Tables)

LOANS (Tables)

6 Months Ended

Jun. 30, 2016

The following table details the Company’s loans at June 30, 2016 and December 31, 2015:

	June 30,			December 31,
	2016			2015
	(Dollars In Thousands)
Commercial, financial and agricultural	$	1,895,870		$	1,760,479
Real estate - construction		251,144			243,267
Real estate - mortgage:
Owner-occupied commercial		1,117,514			1,014,669
1-4 family mortgage		494,733			444,134
Other mortgage		725,336			698,779
Subtotal: Real estate - mortgage		2,337,583			2,157,582
Consumer		54,741			55,047
Total Loans		4,539,338			4,216,375
Less: Allowance for loan losses		(46,998)			(43,419)
Net Loans	$	4,492,340		$	4,172,956

Commercial, financial and agricultural		41.76	%		41.75	%
Real estate - construction		5.53	%		5.77	%
Real estate - mortgage:
Owner-occupied commercial		24.62	%		24.07	%
1-4 family mortgage		10.90	%		10.53	%
Other mortgage		15.98	%		16.57	%
Subtotal: Real estate - mortgage		51.50	%		51.17	%
Consumer		1.21	%		1.31	%
Total Loans		100.00	%		100.00	%

Loans By Credit Quality Indicator

Loans by credit quality indicator as of June 30, 2016 and December 31, 2015 were as follows:

			Special
June 30, 2016	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,819,738	$	58,467	$	17,665	$	-	$	1,895,870
Real estate - construction		239,389		6,833		4,922		-		251,144
Real estate - mortgage:
Owner-occupied commercial		1,095,079		8,466		13,969		-		1,117,514
1-4 family mortgage		489,905		2,120		2,708		-		494,733
Other mortgage		711,276		10,902		3,158		-		725,336
Total real estate mortgage		2,296,260		21,488		19,835		-		2,337,583
Consumer		54,493		221		27		-		54,741
Total	$	4,409,880	$	87,009	$	42,449	$	-	$	4,539,338

			Special
December 31, 2015	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,701,591	$	47,393	$	11,495	$	-	$	1,760,479
Real estate - construction		233,046		6,221		4,000		-		243,267
Real estate - mortgage:
Owner-occupied commercial		988,762		18,169		7,738		-		1,014,669
1-4 family mortgage		437,834		3,301		2,999		-		444,134
Other mortgage		683,157		11,086		4,536		-		698,779
Total real estate mortgage		2,109,753		32,556		15,273		-		2,157,582
Consumer		54,973		42		32		-		55,047
Total	$	4,099,363	$	86,212	$	30,800	$	-	$	4,216,375

Loans By Performance Status

Loans by performance status as of June 30, 2016 and December 31, 2015 were as follows:

June 30, 2016	Performing		Nonperforming		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,895,539	$	331	$	1,895,870
Real estate - construction		247,522		3,622		251,144
Real estate - mortgage:
Owner-occupied commercial		1,117,514		-		1,117,514
1-4 family mortgage		494,155		578		494,733
Other mortgage		724,752		584		725,336
Total real estate mortgage		2,336,421		1,162		2,337,583
Consumer		54,703		38		54,741
Total	$	4,534,185	$	5,153	$	4,539,338

December 31, 2015	Performing		Nonperforming		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,758,561	$	1,918	$	1,760,479
Real estate - construction		239,267		4,000		243,267
Real estate - mortgage:
Owner-occupied commercial		1,014,669		-		1,014,669
1-4 family mortgage		443,936		198		444,134
Other mortgage		697,160		1,619		698,779
Total real estate mortgage		2,155,765		1,817		2,157,582
Consumer		55,015		32		55,047
Total	$	4,208,608	$	7,767	$	4,216,375

Loans By Past Due Status

Loans by past due status as of June 30, 2016 and December 31, 2015 were as follows:

June 30, 2016	Past Due Status (Accruing Loans)
							Total Past
	30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans

	(In Thousands)
Commercial, financial and agricultural	$	1,370	$	28	$	-	$	1,398	$	331	$	1,894,141	$	1,895,870
Real estate - construction		-		-		-		-		3,622		247,522		251,144
Real estate - mortgage:
Owner-occupied commercial		-		1,461		-		1,461		-		1,116,053		1,117,514
1-4 family mortgage		445		61		250		756		328		493,649		494,733
Other mortgage		-		-		162		162		422		724,752		725,336
Total real estate - mortgage		445		1,522		412		2,379		750		2,334,454		2,337,583
Consumer		427		5		11		443		27		54,271		54,741
Total	$	2,242	$	1,555	$	423	$	4,220	$	4,730	$	4,530,388	$	4,539,338

December 31, 2015	Past Due Status (Accruing Loans)
							Total Past
	30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans
	(In Thousands)
Commercial, financial and agricultural	$	50	$	35	$	-	$	85	$	1,918	$	1,758,476	$	1,760,479
Real estate - construction		198		12		-		210		4,000		239,057		243,267
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		-		1,014,669		1,014,669
1-4 family mortgage		-		210		-		210		198		443,726		444,134
Other mortgage		-		-		-		-		1,619		697,160		698,779
Total real estate-mortgage		-		210		-		210		1,817		2,155,555		2,157,582
Consumer		45		6		1		52		31		54,964		55,047
Total	$	293	$	263	$	1	$	557	$	7,766	$	4,208,052	$	4,216,375

Changes In Allowance For Loan Losses Segregated By Loan Type

The following table presents an analysis of the allowance for loan losses by portfolio segment and changes in the allowance for loan losses for the three and six months ended June 30, 2016 and June 30, 2015. The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated.

	Commercial,
	financial and		Real estate -		Real estate -
	agricultural		construction		mortgage		Consumer		Total
	(In Thousands)
	Three Months Ended June 30, 2016
Allowance for loan losses:
Balance at March 31, 2016	$	22,839	$	5,005	$	16,901	$	400	$	45,145
Charge-offs		(1,412)		(355)		(191)		(31)		(1,989)
Recoveries		1		39		2		-		42
Provision		2,227		590		888		95		3,800
Balance at June 30, 2016	$	23,655	$	5,279	$	17,600	$	464	$	46,998

	Three Months Ended June 30, 2015
Allowance for loan losses:
Balance at March 31, 2015	$	16,857	$	5,889	$	13,546	$	1,064	$	37,356
Charge-offs		(1,151)		(93)		(208)		(19)		(1,471)
Recoveries		6		65		2		-		73
Provision		3,340		(187)		831		78		4,062
Balance at June 30, 2015	$	19,052	$	5,674	$	14,171	$	1,123	$	40,020

	Six Months Ended June 30, 2016
Allowance for loan losses:
Balance at December 31, 2015	$	21,495	$	5,432	$	16,061	$	431	$	43,419
Charge-offs		(1,462)		(736)		(191)		(49)		(2,438)
Recoveries		4		55		99		-		158
Provision		3,618		528		1,631		82		5,859
Balance at June 30, 2016	$	23,655	$	5,279	$	17,600	$	464	$	46,998

	Six Months Ended June 30, 2015
Allowance for loan losses:
Balance at December 31, 2014	$	16,079	$	6,395	$	12,112	$	1,043	$	35,629
Charge-offs		(1,228)		(475)		(641)		(24)		(2,368)
Recoveries		25		164		103		-		292
Provision		4,176		(410)		2,597		104		6,467
Balance at June 30, 2015	$	19,052	$	5,674	$	14,171	$	1,123	$	40,020

	As of June 30, 2016
Allowance for loan losses:
Individually Evaluated for Impairment	$	2,855	$	1,319	$	1,675	$	27	$	5,876
Collectively Evaluated for Impairment		20,800		3,960		15,925		437		41,122

Loans:
Ending Balance	$	1,895,870	$	251,144	$	2,337,583	$	54,741	$	4,539,338
Individually Evaluated for Impairment		17,665		4,972		22,371		31		45,039
Collectively Evaluated for Impairment		1,878,205		246,172		2,315,212		54,710		4,494,299

	As of December 31, 2015
Allowance for loan losses:
Individually Evaluated for Impairment	$	2,698	$	1,223	$	1,730	$	32	$	5,683
Collectively Evaluated for Impairment		18,797		4,209		14,331		399		37,736

Loans:
Ending Balance	$	1,760,479	$	243,267	$	2,157,582	$	55,047	$	4,216,375
Individually Evaluated for Impairment		11,513		4,052		17,880		46		33,491
Collectively Evaluated for Impairment		1,748,966		239,215		2,139,702		55,001		4,182,884

Details Of Company's Impaired Loans

The following table presents details of the Company’s impaired loans as of June 30, 2016 and December 31, 2015, respectively. Loans which have been fully charged off do not appear in the tables.

							For the three months				For the six months
							ended June 30,				ended June 30,
	June 30, 2016						2016				2016
									Interest				Interest
			Unpaid				Average		Income		Average		Income
	Recorded		Principal		Related		Recorded		Recognized		Recorded		Recognized
	Investment		Balance		Allowance		Investment		in Period		Investment		in Period

	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	1,438	$	1,438	$	-	$	1,438	$	15	$	1,442	$	30
Real estate - construction		1,264		2,466		-		1,267		1		1,774		10
Real estate - mortgage:
Owner-occupied commercial		7,086		7,247		-		7,293		98		7,398		202
1-4 family mortgage		1,962		1,988		-		2,047		26		2,056		53
Other mortgage		2,928		2,928		-		2,944		40		2,958		81
Total real estate - mortgage		11,976		12,163		-		12,284		164		12,412		336
Consumer		4		6		-		6		-		5		-
Total with no allowance recorded		14,682		16,073		-		14,995		180		15,633		376

With an allowance recorded:
Commercial, financial and agricultural		16,227		19,327		2,855		17,337		218		17,490		498
Real estate - construction		3,708		3,708		1,319		3,708		18		3,694		37
Real estate - mortgage:
Owner-occupied commercial		9,420		9,420		1,320		9,350		111		9,336		220
1-4 family mortgage		745		745		349		745		4		745		10
Other mortgage		230		230		6		233		4		239		8
Total real estate - mortgage		10,395		10,395		1,675		10,328		119		10,320		238
Consumer		27		27		27		27		-		30		-
Total with allowance recorded		30,357		33,457		5,876		31,400		355		31,534		773

Total Impaired Loans:
Commercial, financial and agricultural		17,665		20,765		2,855		18,775		233		18,932		528
Real estate - construction		4,972		6,174		1,319		4,975		19		5,468		47
Real estate - mortgage:
Owner-occupied commercial		16,506		16,667		1,320		16,643		209		16,734		422
1-4 family mortgage		2,707		2,733		349		2,792		30		2,801		63
Other mortgage		3,158		3,158		6		3,177		44		3,197		89
Total real estate - mortgage		22,371		22,558		1,675		22,612		283		22,732		574
Consumer		31		33		27		33		-		35		-
Total impaired loans	$	45,039	$	49,530	$	5,876	$	46,395	$	535	$	47,167	$	1,149

December 31, 2015

			Unpaid				Average		Interest Income
	Recorded		Principal		Related		Recorded		Recognized in
	Investment		Balance		Allowance		Investment		Period

	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	478	$	487	$	-	$	482	$	24
Real estate - construction		161		163		-		370		1
Real estate - mortgage:
Owner-occupied commercial		3,980		4,140		-		3,815		214
1-4 family mortgage		2,396		2,572		-		2,409		147
Other mortgage		4,079		4,694		-		4,559		222
Total real estate - mortgage		10,455		11,406		-		10,783		583
Consumer		14		20		-		18		1
Total with no allowance recorded		11,108		12,076		-		11,653		609

With an allowance recorded:
Commercial, financial and agricultural		11,035		13,035		2,698		13,882		672
Real estate - construction		3,891		4,370		1,223		3,920		-
Real estate - mortgage:
Owner-occupied commercial		6,365		6,365		1,328		9,958		568
1-4 family mortgage		603		603		263		567		19
Other mortgage		457		457		139		880		17
Total real estate - mortgage		7,425		7,425		1,730		11,405		604
Consumer		32		32		32		34		-
Total with allowance recorded		22,383		24,862		5,683		29,241		1,276

Total Impaired Loans:
Commercial, financial and agricultural		11,513		13,522		2,698		14,364		696
Real estate - construction		4,052		4,533		1,223		4,290		1
Real estate - mortgage:
Owner-occupied commercial		10,345		10,505		1,328		13,773		782
1-4 family mortgage		2,999		3,175		263		2,976		166
Other mortgage		4,536		5,151		139		5,439		239
Total real estate - mortgage		17,880		18,831		1,730		22,188		1,187
Consumer		46		52		32		52		1
Total impaired loans	$	33,491	$	36,938	$	5,683	$	40,894	$	1,885

Analysis Of Troubled Debt Restructuring

There were no modifications made to new TDRs or renewals of existing TDRs for the three and six months ended June 30, 2015.

	Three Months Ended June 30, 2016						Six Months Ended June 30, 2016
			Pre-		Post-				Pre-		Post-
			Modification		Modification				Modification		Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
	Contracts		Investment		Investment		Contracts		Investment		Investment
	(In Thousands)
Troubled Debt Restructurings Commercial, financial and agricultural		1	$	366	$	366		1	$	366	$	366
Real estate - construction		-		-		-		-		-		-
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		-		-
1-4 family mortgage		-		-		-		-		-		-
Other mortgage		1		234		234		1		234		234
Total real estate mortgage		1		234		234		1		234		234
Consumer		-		-		-		-		-		-
		2	$	600	$	600		2	$	600	$	600