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

Note 11 - Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2023

	Fair Value Measurements at June 30, 2023 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	$	414,454	$	-	$	-	$	414,454
Government agency securities		-		4		-		4
Mortgage-backed securities		-		229,942		-		229,942
State and municipal securities		-		11,963		-		11,963
Corporate debt		-		327,698		6,860		334,558
Total available-for-sale debt securities		414,454		569,607		6,860		990,921
Total assets at fair value	$	414,454	$	569,607	$	6,860	$	990,921

	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 June 30, 2023
	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)
Loans individually evaluated	$	-	$	-	$	70,677	$	70,677
Other real estate owned and repossessed assets		-		-		832		832
Total assets at fair value	$	-	$	-	$	71,509	$	71,509

	Fair Value Measurements at December 31, 2022
	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)
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

	For the three months ended June 30,					For the six months ended June 30,
	2023		2022			2023			2022
	Available-for- sale Securities		Available-for- sale Securities			Available-for- sale Securities			Available-for- sale Securities
	(In Thousands)
Fair value, beginning of period	$	6,860	$	11,500		$	10,860		$	16,992
Transfers into Level 3		-		-			-			-
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		-		(462	)		160			(805	)
Purchases		-		-			-			-
Transfers out of Level 3		-		(5,038	)		(4,160	)		(10,187	)
Fair value, end of period	$	6,860	$	6,000		$	6,860		$	6,000

	June 30, 2023				December 31, 2022
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	959,734	$	959,734	$	814,538	$	814,538
Held to maturity U.S. Treasury securities		557,084		522,826		507,601		470,954

Level 2 Inputs:
Federal funds sold		17,958		17,958		1,515		1,515
Held to maturity debt securities		499,972		440,767		526,720		464,749
Mortgage loans held for sale		3,981		3,943		1,607		1,604
Restricted equity securities		7,307		7,307		7,734		7,734

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		11,452,622		11,021,748		11,541,671		11,265,517

Financial Liabilities:
Level 2 Inputs:
Deposits	$	12,288,219	$	12,272,714	$	11,546,805	$	11,529,647
Federal funds purchased		1,298,066		1,298,066		1,618,798		1,618,798
Other borrowings		64,737		57,583		64,726		57,101