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

Note 11 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

	Fair Value Measurements at March 31, 2020 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	$	-	$	49,782	$	-	$	49,782
Government agency securities		-		18,593		-		18,593
Mortgage-backed securities		-		546,431		-		546,431
State and municipal securities		-		51,328		-		51,328
Corporate debt		-		154,001		6,647		160,648
Total assets at fair value	$	-	$	820,135	$	6,647	$	826,782

	Fair Value Measurements at December 31, 2019 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	$	-	$	49,210	$	-	$	49,210
Government agency securities		-		18,386		-		18,386
Mortgage-backed securities		-		474,054		-		474,054
State and municipal securities		-		57,272		-		57,272
Corporate debt		-		153,881		6,596		160,477
Total assets at fair value	$	-	$	752,803	$	6,596	$	759,399

	Fair Value Measurements at March 31, 2020 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-	$	-	$	50,404	$	50,404
Other real estate owned and repossessed assets		-		-		7,448		7,448
Total assets at fair value	$	-	$	-	$	57,852	$	57,852

	Fair Value Measurements at December 31, 2019 Using
	Quoted Prices in
	Active Markets		Significant Other		Significant
	for Identical		Observable		Unobservable
	Assets (Level 1)		Inputs (Level 2)		Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Impaired loans	$	-	$	-	$	33,344	$	33,344
Other real estate owned		-		-		8,178		8,178
Total assets at fair value	$	-	$	-	$	41,522	$	41,522

	March 31, 2020				December 31, 2019
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and cash equivalents	$	378,404	$	378,404	$	530,127	$	530,127

Level 2 inputs:
Federal funds sold		306,127		306,127		100,473		100,473
Mortgage loans held for sale		6,747		6,775		6,302		6,312

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		7,433,018		7,401,907		7,151,523		7,099,198

Financial Liabilities:
Level 2 inputs:
Deposits	$	7,832,655	$	7,817,647	$	7,530,433	$	7,534,984
Federal funds purchased		543,623		543,623		470,749		470,749
Other borrowings		64,707		64,950		64,703		65,048