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

Note 21 - Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2023

	Fair Value Measurements at December 31, 2023 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable Inputs		Unobservable
	Assets (Level 1)		(Level 2)		Inputs (Level 3)		Total
	(In Thousands)
Assets Measured on a Recurring Basis:
Available-for-sale debt securities:
U.S. Treasury securities	$	340,807	$	-	$	-	$	340,807
Mortgage-backed securities		-		215,485		-		215,485
State and municipal securities		-		10,223		-		10,223
Corporate debt		-		326,808		6,860		333,668
Total available-for-sale debt securities		340,807		552,516		6,860		900,183
Total assets at fair value	$	340,807	$	552,516	$	6,860	$	900,183

	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
	(In Thousands)
Assets Measured on a Recurring Basis:
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, 2023 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
	(In Thousands)
Assets Measured on a Nonrecurring Basis:
Loans individually evaluated	$	-	$	-	$	70,735	$	70,735
Other real estate owned and repossessed assets		-		-		995		995
Total assets at fair value	$	-	$	-	$	71,730	$	71,730

	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
	(In Thousands)
Assets Measured on a Nonrecurring Basis:
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 year ended December 31,
	2023			2022
	Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	10,860		$	16,992
Transfers into Level 3		-			4,860
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		160			(805	)
Purchases		-			-
Transfers out of Level 3		(4,160	)		(10,187	)
Fair value, end of period	$	6,860		$	10,860

	December 31,
	2023				2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 Inputs:
Cash and cash equivalents	$	2,030,513	$	2,030,513	$	814,538	$	814,538
Held-to-maturity U.S. Treasury securities		508,985		484,267		507,151		470,954

Level 2 Inputs:
Federal funds sold		100,575		100,575		1,515		1,515
Held-to-maturity debt securities		473,429		422,674		526,720		464,749
Mortgage loans held for sale		5,071		5,071		1,607		1,604
Restricted equity securities		10,226		10,226		7,734		7,734

Level 3 Inputs:
Held-to-maturity debt securities		250		250		250		250
Loans, net		11,505,512		11,032,819		11,541,671		11,265,517

Financial Liabilities:
Level 2 Inputs:
Deposits	$	13,273,511	$	13,266,640	$	11,546,805	$	11,529,647
Federal funds purchased		1,256,724		1,256,724		1,618,798		1,618,798
Other borrowings		64,735		58,083		64,726		57,101