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

Note 21 - Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

	Fair Value Measurements at December 31, 2022 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 debt securities:
U.S. Treasury securities	$	2,969	$	-	$	-	$	2,969
Government agency securities		-		9		-		9
Mortgage-backed securities		-		249,703		-		249,703
State and municipal securities		-		13,609		-		13,609
Corporate debt		-		367,665		10,860		378,525
Total available-for-sale debt securities		2,969		630,986		10,860		644,815
Interest rate cap derivative		-		4,201		-		4,201
Total assets at fair value	$	2,969	$	635,187	$	10,860	$	649,016

	Fair Value Measurements at December 31, 2021 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 debt securities:
U.S. Treasury securities	$	9,104	$	-	$	-	$	9,104
Government agency securities		-		6,041		-		6,041
Mortgage-backed securities		-		425,161		-		425,161
State and municipal securities		-		21,634		-		21,634
Corporate debt		-		363,638		16,992		380,630
Total available-for-sale debt securities		9,104		816,474		16,992		842,570
Interest rate cap derivative		-		1,152		-		1,152
Total assets at fair value	$	9,104	$	817,626	$	16,992	$	843,722

	Fair Value Measurements at December 31, 2022 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)
Loans individually evaluated	$	-	$	-	$	73,017	$	73,017
Other real estate owned and repossessed assets		-		-		248		248
Total assets at fair value	$	-	$	-	$	73,265	$	73,265

	Fair Value Measurements at December 31, 2021 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)
Loans individually evaluated	$	-	$	-	$	73,173	$	73,173
Other real estate owned and repossessed assets		-		-		1,208		1,208
Total assets at fair value	$	-	$	-	$	74,381	$	74,381

	For the year ended December 31,
	2022			2021
	Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	16,992		$	-
Transfers into Level 3		4,860			6,000
Total realized gains included in income		-			-
Changes in unrealized gains/losses included in other comprehensive income for assets and liabilities still held at period-end		(805	)		492
Purchases		-			18,000
Transfers out of Level 3		(10,187	)		(7,500	)
Fair value, end of period	$	10,860		$	16,992

	December 31,
	2022				2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	814,538	$	814,538	$	4,163,724	$	4,163,724
Held to maturity U.S. Treasury securities		507,151		470,954		149,263		148,620

Level 2 Inputs:
Federal funds sold		1,515		1,515		58,372		58,372
Held to maturity debt securities		526,720		464,749		313,444		317,416
Mortgage loans held for sale		1,607		1,604		1,114		1,111
Restricted equity securities		7,734		7,734		7,311		7,311

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		11,541,671		11,265,517		9,416,274		9,403,012

Financial Liabilities:
Level 2 Inputs:
Deposits	$	11,546,805	$	11,529,647	$	12,452,836	$	12,454,140
Federal funds purchased		1,618,798		1,618,798		1,711,777		1,711,777
Other borrowings		64,726		57,101		64,706		65,475