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

Note 11 - Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2022

	Fair Value Measurements at March 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
Assets Measured on a Recurring Basis:	(In Thousands)
Available for sale debt securities:
U.S. Treasury securities	$	6,010	$	-	$	-	$	6,010
Government agency securities		-		14		-		14
Mortgage-backed securities		-		339,134		-		339,134
State and municipal securities		-		19,666		-		19,666
Corporate debt		-		408,349		11,500		419,849
Total available-for-sale debt securities		6,010		767,163		11,500		784,673
Interest rate cap derivative		-		4,518		-		4,518
Total assets at fair value	$	6,010	$	771,681	$	11,500	$	789,191

	Fair Value Measurements at December 31, 2021 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	$	9,104	$	-	$	-	$	9,104
Government agency securities		-		6,041		-		6,041
Mortgage-backed securities		-		425,161		-		425,161
State and municipal securities		-		21,634		-		21,634
Corporate debt		-		363,638		16,992		380,630
Total available-for-sale debt securities		9,104		816,474		16,992		842,570
Interest rate cap derivative		-		1,152		-		1,152
Total assets at fair value	$	9,104	$	817,626	$	16,992	$	843,722

	Fair Value Measurements at March 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
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	73,365	$	73,365
Other real estate owned and repossessed assets		-		-		1,989		1,989
Total assets at fair value	$	-	$	-	$	75,354	$	75,354

	Fair Value Measurements at December 31, 2021 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)
Loans individually evaluated	$	-	$	-	$	73,173	$	73,173
Other real estate owned		-		-		1,208		1,208
Total assets at fair value	$	-	$	-	$	74,381	$	74,381

	For the period ended March 31,
	2022			2021
	Available-for-sale Securities			Available-for-sale Securities
	(In Thousands)
Fair value, beginning of period	$	16,992		$	-
Transfers into Level 3		-			10,000
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		(343	)		301
Purchases		-			-
Transfers out of Level 3		(5,149	)		-
Fair value, end of period	$	11,500		$	10,301

	March 31, 2022				December 31, 2021
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and cash equivalents	$	3,418,751	$	3,418,751	$	4,163,724	$	4,163,724

Level 2 inputs:
Federal funds sold		24,638		24,638		58,372		58,372
Held to maturity debt securities		833,304		799,347		462,707		466,036
Mortgage loans held for sale		403		120		1,114		1,111

Level 3 Inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		9,779,494		9,798,389		9,416,274		9,403,012

Financial Liabilities:
Level 2 inputs:
Deposits	$	12,408,755	$	12,418,183	$	12,452,836	$	12,454,140
Federal funds purchased		1,639,238		1,639,238		1,711,777		1,711,777
Other borrowings		64,711		65,548		64,706		65,476