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)

6 Months Ended

Jun. 30, 2015

The following table details the Company’s loans at June 30, 2015 and December 31, 2014:

	June 30,			December 31,
	2015			2014
	(Dollars In Thousands)
Commercial, financial and agricultural	$	1,630,134		$	1,495,092
Real estate - construction		219,607			208,769
Real estate - mortgage:
Owner-occupied commercial		930,719			793,917
1-4 family mortgage		392,245			333,455
Other mortgage		627,099			471,363
Subtotal: Real estate - mortgage		1,950,063			1,598,735
Consumer		63,930			57,262
Total Loans		3,863,734			3,359,858
Less: Allowance for loan losses		(40,020)			(35,629)
Net Loans	$	3,823,714		$	3,324,229

Commercial, financial and agricultural		42.19	%		44.50	%
Real estate - construction		5.68	%		6.21	%
Real estate - mortgage:
Owner-occupied commercial		24.09	%		23.63	%
1-4 family mortgage		10.15	%		9.92	%
Other mortgage		16.23	%		14.03	%
Subtotal: Real estate - mortgage		50.47	%		47.58	%
Consumer		1.66	%		1.71	%
Total Loans		100.00	%		100.00	%

Loans By Credit Quality Indicator

Loans by credit quality indicator as of June 30, 2015 and December 31, 2014 were as follows:

			Special
June 30, 2015	Pass		Mention		Substandard		Doubtful		Total
					(In Thousands)
Commercial, financial and agricultural	$	1,566,548	$	37,582	$	26,004	$	-	$	1,630,134
Real estate - construction		208,726		5,148		5,733		-		219,607
Real estate - mortgage:
Owner-occupied commercial		909,165		18,050		3,504		-		930,719
1-4 family mortgage		387,048		1,848		3,349		-		392,245
Other mortgage		613,360		8,798		4,941		-		627,099
Total real estate mortgage		1,909,573		28,696		11,794		-		1,950,063
Consumer		63,229		37		664		-		63,930
Total	$	3,748,076	$	71,463	$	44,195	$	-	$	3,863,734

			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 June 30, 2015 and December 31, 2014 were as follows:

June 30, 2015	Performing		Nonperforming		Total
			(In Thousands)
Commercial, financial and agricultural	$	1,629,272	$	862	$	1,630,134
Real estate - construction		214,523		5,084		219,607
Real estate - mortgage:
Owner-occupied commercial		930,643		76		930,719
1-4 family mortgage		390,831		1,414		392,245
Other mortgage		626,535		564		627,099
Total real estate mortgage		1,948,009		2,054		1,950,063
Consumer		63,266		664		63,930
Total	$	3,855,070	$	8,664	$	3,863,734

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 June 30, 2015 and December 31, 2014 were as follows:

June 30, 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	$	3,488	$	238	$	-	$	3,726	$	862	$	1,625,546	$	1,630,134
Real estate - construction		-		-		-		-		5,084		214,523		219,607
Real estate - mortgage:
Owner-occupied commercial		405		-		-		405		76		930,238		930,719
1-4 family mortgage		-		156		470		626		944		390,675		392,245
Other mortgage		-		449		-		449		564		626,086		627,099
Total real estate - mortgage		405		605		470		1,480		1,584		1,946,999		1,950,063
Consumer		18		2		-		20		664		63,246		63,930
Total	$	3,911	$	845	$	470	$	5,226	$	8,194	$	3,850,314	$	3,863,734

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 following table presents an analysis of the allowance for loan losses by portfolio segment as of June 30, 2015 and December 31, 2014. 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 June 30, 2015
Allowance for loan losses:
Balance at March 31, 2015	$	16,857	$	5,889	$	13,546	$	1,064	$	37,356
Charge-offs		(1,151)		(93)		(208)		(19)		(1,471)
Recoveries		6		65		2		-		73
Provision		3,340		(187)		831		78		4,062
Balance at June 30, 2015	$	19,052	$	5,674	$	14,171	$	1,123	$	40,020

	Three Months Ended June 30, 2014
Allowance for loan losses:
Balance at March 31, 2014	$	13,505	$	6,341	$	10,837	$	1,045	$	31,728
Charge-offs		(142)		(325)		(890)		(18)		(1,375)
Recoveries		1		180		10		2		193
Provision		273		538		1,566		61		2,438
Balance at June 30, 2014	$	13,637	$	6,734	$	11,523	$	1,090	$	32,984

	Six Months Ended June 30, 2015
Allowance for loan losses:
Balance at December 31, 2014	$	16,079	$	6,395	$	12,112	$	1,043	$	35,629
Charge-offs		(1,228)		(475)		(641)		(24)		(2,368)
Recoveries		25		164		103		-		292
Provision		4,176		(410)		2,597		104		6,467
Balance at June 30, 2015	$	19,052	$	5,674	$	14,171	$	1,123	$	40,020

	Six Months Ended June 30, 2014
Allowance for loan losses:
Balance at December 31, 2013	$	13,576	$	6,078	$	10,065	$	944	$	30,663
Charge-offs		(1,364)		(348)		(894)		(76)		(2,682)
Recoveries		46		188		14		3		251
Provision		1,379		816		2,338		219		4,752
Balance at June 30, 2014	$	13,637	$	6,734	$	11,523	$	1,090	$	32,984

	As of June 30, 2015
Allowance for loan losses:
Individually Evaluated for Impairment		3,235		1,233		1,252		664		6,384
Collectively Evaluated for Impairment		15,817		4,441		12,919		459		33,636

Loans:
Ending Balance	$	1,630,134	$	219,607	$	1,950,063	$	63,930	$	3,863,734
Individually Evaluated for Impairment		26,030		5,788		14,564		685		47,067
Collectively Evaluated for Impairment		1,604,104		213,819		1,935,499		63,245		3,816,667

	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 June 30, 2015 and December 31, 2014, respectively. Loans which have been fully charged off do not appear in the tables.

							For the three months				For the six months
							ended June 30,				ended June 30,
	June 30, 2015						2015				2015
									Interest				Interest
			Unpaid				Average		Income		Average		Income
	Recorded		Principal		Related		Recorded		Recognized		Recorded		Recognized
	Investment		Balance		Allowance		Investment		in Period		Investment		in Period
							(In Thousands)
With no allowance recorded:
Commercial, financial and agricultural	$	3,315	$	3,323	$	-	$	3,313	$	45	$	3,376	$	63
Real estate - construction		1,450		1,452		-		1,453		7		1,480		15
Real estate - mortgage:
Owner-occupied commercial		4,127		4,285		-		4,127		23		4,133		59
1-4 family mortgage		2,362		2,650		-		2,367		18		2,354		38
Other mortgage		2,606		2,779		-		2,651		41		2,644		83
Total real estate - mortgage		9,095		9,714		-		9,145		82		9,131		180
Consumer		21		26		-		21		-		22		-
Total with no allowance recorded		13,881		14,515		-		13,932		134		14,009		258

With an allowance recorded:
Commercial, financial and agricultural		22,715		22,715		3,235		22,739		365		22,707		657
Real estate - construction		4,338		4,338		1,233		4,811		-		4,603		-
Real estate - mortgage:
Owner-occupied commercial		2,054		2,054		105		2,059		31		2,067		62
1-4 family mortgage		1,080		1,080		448		1,082		11		1,082		22
Other mortgage		2,335		2,328		699		2,335		20		2,542		40
Total real estate - mortgage		5,469		5,462		1,252		5,476		62		5,691		124
Consumer		664		664		664		664		-		664		5
Total with allowance recorded		33,186		33,179		6,384		33,690		427		33,665		786

Total Impaired Loans:
Commercial, financial and agricultural		26,030		26,038		3,235		26,052		410		26,083		720
Real estate - construction		5,788		5,790		1,233		6,264		7		6,083		15
Real estate - mortgage:
Owner-occupied commercial		6,181		6,339		105		6,186		54		6,200		121
1-4 family mortgage		3,442		3,730		448		3,449		29		3,436		60
Other mortgage		4,941		5,107		699		4,986		61		5,186		123
Total real estate - mortgage		14,564		15,176		1,252		14,621		144		14,822		304
Consumer		685		690		664		685		-		686		5
Total impaired loans	$	47,067	$	47,694	$	6,384	$	47,622	$	561	$	47,674	$	1,044

December 31, 2014
			Unpaid				Average		Interest Income
	Recorded		Principal		Related		Recorded		Recognized in
	Investment		Balance		Allowance		Investment		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

Analysis Of Troubled Debt Restructuring

	Three Months Ended June 30, 2014						Six Months Ended June 30, 2014
			Pre-		Post-				Pre-		Post-
			Modification		Modification				Modification		Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
	Contracts		Investment		Investment		Contracts		Investment		Investment
	(In Thousands)
Troubled Debt Restructurings
Commercial, financial and agricultural		1	$	499	$	499		1	$	499	$	499
Real estate - construction		-		-		-		-		-		-
Real estate - mortgage:
Owner-occupied commercial		-		-		-		-		-		-
1-4 family mortgage		-		-		-		-		-		-
Other mortgage		1		1,409		1,409		1		1,409		1,409
Total real estate mortgage		1		1,409		1,409		1		1,409		1,409
Consumer		-		-		-		-		-		-
		2	$	1,908	$	1,908		2	$	1,908	$	1,908