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

Annual report pursuant to Section 13 and 15(d)

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

NOTE 5. PREMISES AND EQUIPMENT

Premises and equipment are summarized as follows:

	December 31,
	2011			2010
	(In Thousands)
Furniture and equipment	$	5,224		$	4,441
Leasehold improvements		4,436			3,920
		9,660			8,361
Accumulated depreciation		(5,069	)		(3,911	)
	$	4,591		$	4,450

The provisions for depreciation charged to occupancy and equipment expense for the years ended December 31, 2011, 2010 and 2009 were $1,173,000, $1,066,000 and $1,087,000, respectively.

The Company leases land and building space under non-cancellable operating leases. Future minimum lease payments under non-cancellable operating leases are summarized as follows:

	(In Thousands)
2012	$	2,068
2013		1,955
2014		1,945
2015		1,974
2016		1,934
Thereafter		7,201
	$	17,077

For the years ended December 31, 2011, 2010 and 2009, annual rental expense on operating leases was $2,060,000, $1,734,000 and $1,447,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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