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

Note 11 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2019

	Fair Value Measurements at March 31, 2019 Using
	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 Recurring Basis:	(In Thousands)
Available for sale debt securities:
U.S. Treasury and government sponsored agencies	$	–	$	74,081	$	–	$	74,081
Mortgage-backed securities		–		329,376		–		329,376
State and municipal securities		–		96,468		–		96,468
Corporate debt		–		125,268		6,503		131,771
Total assets at fair value	$	–	$	625,193	$	6,503	$	631,696

	Fair Value Measurements at December 31, 2018 Using
	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 Recurring Basis:	(In Thousands)
Available for sale debt securities:
U.S. Treasury and government sponsored agencies	$	–	$	76,993	$	–	$	76,993
Mortgage-backed securities		–		304,304		–		304,304
State and municipal securities		–		105,994		–		105,994
Corporate debt		–		96,375		6,518		102,893
Total assets at fair value	$	–	$	583,666	$	6,518	$	590,184

	Fair Value Measurements at March 31, 2019 Using
	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)
Impaired loans	$	–	$	–	$	29,504	$	29,504
Other real estate owned and repossessed assets		–		–		5,480		5,480
Total assets at fair value	$	–	$	–	$	34,984	$	34,984

	Fair Value Measurements at December 31, 2018 Using
	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)
Impaired loans	$	–	$	–	$	30,463	$	30,463
Other real estate owned		–		–		5,169		5,169
Total assets at fair value	$	–	$	–	$	35,632	$	35,632

	March 31, 2019				December 31, 2018
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and cash equivalents	$	618,094	$	618,094	$	458,050	$	458,050

Level 2 inputs:
Federal funds sold		181,435		181,435		223,845		223,845
Mortgage loans held for sale		1,223		1,251		120		121

Level 3 Inputs:
Held to maturity debt securities		250		250		–		–
Loans, net		6,589,701		6,555,511		6,464,899		6,398,604

Financial Liabilities:
Level 2 inputs:
Deposits	$	7,083,666	$	7,082,114	$	6,915,708	$	6,910,176
Federal funds purchased		373,378		373,378		288,725		288,725
Other borrowings		64,675		64,618		64,666		64,613