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

Note 11 - Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2022

	Fair Value Measurements at September 30, 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	$	5,952	$	-	$	-	$	5,952
Government agencies		-		9		-		9
Mortgage-backed securities		-		257,764		-		257,764
State and municipal securities		-		15,020		-		15,020
Corporate debt		-		381,019		6,000		387,019
Total available-for-sale debt securities		5,952		653,812		6,000		665,763
Interest rate cap derivative		-		6,446		-		6,446
Total assets at fair value	$	5,952	$	660,258	$	6,000	$	672,209


	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 agencies		-		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 September 30, 2022
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	68,204	$	68,204
Other real estate owned and repossessed assets		-		-		1,245		1,245
Total assets at fair value	$	-	$	-	$	69,449	$	69,449

	Fair Value Measurements at December 31, 2021
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets Measured on a Nonrecurring Basis:	(In Thousands)
Loans individually evaluated	$	-	$	-	$	73,173	$	73,173
Other real estate owned and repossessed assets		-		-		1,208		1,208
Total assets at fair value	$	-	$	-	$	74,381	$	74,381

	For the three months ended September 30,					For the nine months ended September 30,
	2022		2021			2022			2021
	Available-for- sale Securities		Available-for- sale Securities			Available-for- sale Securities			Available-for- sale Securities
	(In Thousands)
Fair value, beginning of period	$	6,000	$	14,994		$	16,992		$	-
Transfers into Level 3		-		-			-			6,000
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		-		24			(805	)		518
Purchases		-		5,500			-			18,000
Transfers out of Level 3		-		(3,500	)		(10,187	)		(7,500	)
Fair value, end of period	$	6,000	$	17,018		$	6,000		$	17,018

	September 30, 2022				December 31, 2021
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
	(In Thousands)
Financial Assets:
Level 1 inputs:
Cash and due from banks	$	406,010	$	406,010	$	4,163,724	$	4,163,724

Level 2 inputs:
Federal funds sold		82,316		82,316		58,372		58,372
Held to maturity debt securities		1,048,590		942,032		462,707		466,036
Mortgage loans held for sale		2,003		1,942		1,114		1,111
Restricted equity securities		7,734		7,734		7,311		7,311

Level 3 inputs:
Held to maturity debt securities		250		250		250		250
Loans, net		11,069,443		10,916,118		9,416,274		9,403,012

Financial liabilities:
Level 2 inputs:
Deposits	$	11,051,915	$	11,030,991	$	12,452,836	$	12,454,140
Federal funds purchased		1,466,322		1,466,322		1,711,777		1,711,777
Other borrowings		64,721		56,860		64,706		65,476