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

Quarterly report pursuant to Section 13 or 15(d)

LOANS (Tables)

LOANS (Tables)

3 Months Ended

Mar. 31, 2015

The following table details the Company’s loans at March 31, 2015 and December 31, 2014:

	March 31,			December 31,
	2015			2014
	(Dollars In Thousands)
Commercial, financial and agricultural	$	1,543,531		$	1,495,092
Real estate - construction		219,005			208,769
Real estate - mortgage:
Owner-occupied commercial		869,724			793,917
1-4 family mortgage		375,770			333,455
Other mortgage		545,668			471,363
Subtotal: Real estate - mortgage		1,791,162			1,598,735
Consumer		54,154			57,262
Total Loans		3,607,852			3,359,858
Less: Allowance for loan losses		(37,356)			(35,629)
Net Loans	$	3,570,496		$	3,324,229


Commercial, financial and agricultural		42.78	%		44.50	%
Real estate - construction		6.07	%		6.21	%
Real estate - mortgage:
Owner-occupied commercial		24.11	%		23.63	%
1-4 family mortgage		10.42	%		9.92	%
Other mortgage		15.12	%		14.03	%
Subtotal: Real estate - mortgage		49.65	%		47.58	%
Consumer		1.50	%		1.71	%
Total Loans		100.00	%		100.00	%

Loans By Credit Quality Indicator

Loans by credit quality indicator as of March 31, 2015 and December 31, 2014 were as follows:

			Special
March 31, 2015	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,494,527	$	25,411	$	23,593	$	-	$	1,543,531
Real estate - construction		207,722		5,358		5,925		-		219,005
Real estate - mortgage:
Owner-occupied commercial		856,894		8,353		4,477		-		869,724
1-4 family mortgage		368,705		4,602		2,463		-		375,770
Other mortgage		532,569		8,925		4,174		-		545,668
Total real estate mortgage		1,758,168		21,880		11,114		-		1,791,162
Consumer		53,430		60		664		-		54,154
Total	$	3,513,847	$	52,709	$	41,296	$	-	$	3,607,852

			Special
December 31, 2014	Pass		Mention		Substandard		Doubtful		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,459,356	$	25,416	$	10,320	$	-	$	1,495,092
Real estate - construction		197,727		5,332		5,710		-		208,769
Real estate - mortgage:
Owner-occupied commercial		784,492		6,848		2,577		-		793,917
1-4 family mortgage		326,316		4,253		2,886		-		333,455
Other mortgage		457,782		9,015		4,566		-		471,363
Total real estate mortgage		1,568,590		20,116		10,029		-		1,598,735
Consumer		56,559		37		666		-		57,262
Total	$	3,282,232	$	50,901	$	26,725	$	-	$	3,359,858

Loans By Performance Status

Loans by performance status as of March 31, 2015 and December 31, 2014 were as follows:

March 31, 2015	Performing		Nonperforming		Total

	(In Thousands)
Commercial, financial and agricultural	$	1,542,818	$	713	$	1,543,531
Real estate - construction		213,732		5,273		219,005
Real estate - mortgage:
Owner-occupied commercial		869,000		724		869,724
1-4 family mortgage		374,804		966		375,770
Other mortgage		545,094		574		545,668
Total real estate mortgage		1,788,898		2,264		1,791,162
Consumer		53,490		664		54,154
Total	$	3,598,938	$	8,914	$	3,607,852

December 31, 2014	Performing		Nonperforming		Total
	(In Thousands)
Commercial, financial and agricultural	$	1,493,995	$	1,097	$	1,495,092
Real estate - construction		203,720		5,049		208,769
Real estate - mortgage:
Owner-occupied commercial		793,234		683		793,917
1-4 family mortgage		331,859		1,596		333,455
Other mortgage		470,404		959		471,363
Total real estate mortgage		1,595,497		3,238		1,598,735
Consumer		56,596		666		57,262
Total	$	3,349,808	$	10,050	$	3,359,858

Loans By Past Due Status

Loans by past due status as of March 31, 2015 and December 31, 2014 were as follows:

March 31, 2015	Past Due Status (Accruing Loans)
							Total Past
	30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans
	(In Thousands)
Commercial, financial and agricultural	$	88	$	84	$	553	$	725	$	160	$	1,542,646	$	1,543,531
Real estate - construction		-		-		-		-		5,273		213,732		219,005
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		724		869,000		869,724
1-4 family mortgage		430		165		-		595		966		374,209		375,770
Other mortgage		-		-		-		-		574		545,094		545,668
Total real estate - mortgage		430		165		-		595		2,264		1,788,303		1,791,162
Consumer		31		8		-		39		664		53,451		54,154
Total	$	549	$	257	$	553	$	1,359	$	8,361	$	3,598,132	$	3,607,852

December 31, 2014	Past Due Status (Accruing Loans)
							Total Past
	30-59 Days		60-89 Days		90+ Days		Due		Non-Accrual		Current		Total Loans
	(In Thousands)
Commercial, financial and agricultural	$	1,388	$	3,490	$	925	$	5,803	$	172	$	1,489,117	$	1,495,092
Real estate - construction		-		-		-		-		5,049		203,720		208,769
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		683		793,234		793,917
1-4 family mortgage		14		-		-		14		1,596		331,845		333,455
Other mortgage		-		-		-		-		959		470,404		471,363
Total real estate - mortgage		14		-		-		14		3,238		1,595,483		1,598,735
Consumer		21		-		-		21		666		56,575		57,262
Total	$	1,423	$	3,490	$	925	$	5,838	$	9,125	$	3,344,895	$	3,359,858

Changes In Allowance For Loan Losses Segregated By Loan Type

The total allowance for loan losses is disaggregated into those amounts associated with loans individually evaluated and those associated with loans collectively evaluated.

	Commercial,
	financial and		Real estate -		Real estate -
	agricultural		construction		mortgage		Consumer		Total
	(In Thousands)
	Three Months Ended March 31, 2015
Allowance for loan losses:
Balance at December 31, 2014	$	16,079	$	6,395	$	12,112	$	1,043	$	35,629
Charge-offs		(77)		(382)		(433)		(5)		(897)
Recoveries		19		99		101		-		219
Provision		836		(223)		1,766		26		2,405
Balance at March 31, 2015	$	16,857	$	5,889	$	13,546	$	1,064	$	37,356

	Three Months Ended March 31, 2014
Allowance for loan losses:
Balance at December 31, 2013	$	13,576	$	6,078	$	10,065	$	944	$	30,663
Charge-offs		(1,222)		(23)		(4)		(58)		(1,307)
Recoveries		45		8		4		1		58
Provision		1,106		278		772		158		2,314
Balance at March 31, 2014	$	13,505	$	6,341	$	10,837	$	1,045	$	31,728

	As of March 31, 2015
Allowance for loan losses:
Individually Evaluated for Impairment	$	2,191	$	1,240	$	1,407	$	664	$	5,502
Collectively Evaluated for Impairment		14,666		4,649		12,139		400		31,854

Loans:
Ending Balance	$	1,543,531	$	219,005	$	1,791,162	$	54,154	$	3,607,852
Individually Tested for Impairment		23,991		5,980		14,489		691		45,151
Collectively Evaluated for Impairment		1,519,540		213,025		1,776,673		53,463		3,562,701

	As of December 31, 2014
Allowance for loan losses:
Individually Evaluated for Impairment	$	1,344	$	1,448	$	1,636	$	666	$	5,094
Collectively Evaluated for Impairment		14,735		4,947		10,476		377		30,535

Loans:
Ending Balance	$	1,495,092	$	208,769	$	1,598,735	$	57,262	$	3,359,858
Individually Evaluated for Impairment		10,350		5,680		10,029		666		26,725
Collectively Evaluated for Impairment		1,484,742		203,089		1,588,706		56,596		3,333,133

Details Of Company's Impaired Loans

The following table presents details of the Company’s impaired loans as of March 31, 2015 and December 31, 2014, respectively. Loans which have been fully charged off do not appear in the table.

	March 31, 2015
							For the three months
							ended March 31, 2015
									Interest
			Unpaid				Average		Income
	Recorded		Principal		Related		Recorded		Recognized
	Investment		Balance		Allowance		Investment		in Period


	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	3,137	$	3,248	$	-	$	3,127	$	43
Real estate - construction		1,615		1,618		-		1,641		7
Real estate - mortgage:
Owner-occupied commercial		4,731		4,947		-		3,610		48
1-4 family mortgage		1,474		1,768		-		1,059		6
Other mortgage		1,981		2,154		-		1,971		33
Total real estate - mortgage		8,186		8,869		-		6,640		87
Consumer		27		33		-		18		-
Total with no allowance recorded		12,965		13,768		-		11,426		137

With an allowance recorded:
Commercial, financial and agricultural		20,854		20,854		2,191		20,705		348
Real estate - construction		4,365		4,845		1,240		4,392		-
Real estate - mortgage:
Owner-occupied commercial		3,028		3,028		237		3,040		36
1-4 family mortgage		1,082		1,082		487		1,083		11
Other mortgage		2,193		2,193		683		2,609		19
Total real estate - mortgage		6,303		6,303		1,407		6,732		66
Consumer		664		664		664		664		-
Total with allowance recorded		32,186		32,666		5,502		32,493		414

Total Impaired Loans:
Commercial, financial and agricultural		23,991		24,102		2,191		23,832		391
Real estate - construction		5,980		6,463		1,240		6,033		7
Real estate - mortgage:
Owner-occupied commercial		7,759		7,975		237		6,650		84
1-4 family mortgage		2,556		2,850		487		2,142		17
Other mortgage		4,174		4,347		683		4,580		52
Total real estate - mortgage		14,489		15,172		1,407		13,372		153
Consumer		691		697		664		682		-
Total impaired loans	$	45,151	$	46,434	$	5,502	$	43,919	$	551

	December 31, 2014
								For the twelve months
								ended December 31, 2014
									Interest
			Unpaid				Average		Income
	Recorded		Principal		Related		Recorded		Recognized
	Investment		Balance		Allowance		Investment		In Period

	(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	7,059	$	7,059	$	-	$	7,104	$	406
Real estate - construction		1,527		1,527		-		1,493		40
Real estate - mortgage:
Owner-occupied commercial		1,576		1,576		-		236		12
1-4 family mortgage		542		592		-		592		19
Other mortgage		1,944		1,944		-		2,283		142
Total real estate - mortgage		4,062		4,112		-		3,111		173
Consumer		-		-		-		-		-
Total with no allowance recorded		12,648		12,698		-		11,708		619

With an allowance recorded:
Commercial, financial and agricultural		3,291		3,291		1,344		3,262		156
Real estate - construction		4,153		4,633		1,448		4,382		19
Real estate - mortgage:
Owner-occupied commercial		1,001		1,001		160		1,140		29
1-4 family mortgage		2,344		2,344		694		2,743		56
Other mortgage		2,622		2,622		782		2,767		84
Total real estate - mortgage		5,967		5,967		1,636		6,650		169
Consumer		666		666		666		681		-
Total with allowance recorded		14,077		14,557		5,094		14,975		344

Total Impaired Loans:
Commercial, financial and agricultural		10,350		10,350		1,344		10,366		562
Real estate - construction		5,680		6,160		1,448		5,875		59
Real estate - mortgage:
Owner-occupied commercial		2,577		2,577		160		1,376		41
1-4 family mortgage		2,886		2,936		694		3,335		75
Other mortgage		4,566		4,566		782		5,050		226
Total real estate - mortgage		10,029		10,079		1,636		9,761		342
Consumer		666		666		666		681		-
Total impaired loans	$	26,725	$	27,255	$	5,094	$	26,683	$	963