ServisFirst Bancshares, Inc. Annual report pursuant to Section 13 and 15(d)

Note 23 - Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2017

	Fair Value Measurements at December 31, 2017 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 securities:
U.S. Treasury and government sponsored agencies	$	-	$	55,356	$	-	$	55,356
Mortgage-backed securities		-		276,498		-		276,498
State and municipal securities		-		134,849		-		134,849
Corporate debt		-		64,877		6,500		71,377
Total assets at fair value	$	-	$	531,580	$	6,500	$	538,080

	Fair Value Measurements at December 31, 2016 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 securities
U.S. Treasury and government sponsored agencies	$	-	$	46,254	$	-	$	46,254
Mortgage-backed securities		-		227,190		-		227,190
State and municipal securities		-		139,930		-		139,930
Corporate debt		-		9,001		-		9,001
Total assets at fair value	$	-	$	422,375	$	-	$	422,375

	Fair Value Measurements at December 31, 2017 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-		-	$	34,901	$	34,901
Other real estate owned and repossessed assets		-		-		6,701		6,701
Total assets at fair value		-		-	$	41,602	$	41,602

	Fair Value Measurements at December 31, 2016 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-	$	-	$	37,437	$	37,437
Other real estate owned		-		-		4,988		4,988
Total assets at fair value	$	-	$	-	$	42,425	$	42,425

	December 31,
	2017				2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	238,062	$	238,062	$	623,562	$	623,562

Level 2 Inputs:
Debt securities available for sale	$	531,580	$	531,580	$	422,375	$	422,375
Debt securities held to maturity		-		-		25,052		25,431
Equity securities		1,034		1,034		1,024		1,024
Federal funds sold		239,524		239,524		160,435		160,435
Mortgage loans held for sale		4,459		4,459		4,675		4,736
Bank owned life insurance contracts		127,519		127,519		114,388		114,388

Level 3 Inputs:
Debt securities available for sale	$	6,500	$	6,500	$	-	$	-
Debt securities held to maturity		250		250		37,512		37,871
Loans, net		5,791,855		5,747,342		4,859,877		4,872,689

Financial Liabilities:
Level 2 Inputs:
Deposits	$	6,091,674	$	6,086,085	$	5,420,311	$	5,417,320
Federal funds purchased		301,797		301,797		355,944		355,944
Other borrowings		64,832		65,921		55,262		54,203