Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 LOANS The loan portfolio is classified based on the underlying collateral utilized to secure each loan for financial reporting purposes. This classification is consistent with the Quarterly Report of Condition and Income filed by ServisFirst Bank with the Federal Deposit Insurance Corporation (FDIC). Commercial, financial and agricultural - Real estate construction Owner-occupied commercial real estate mortgage 1 4 Other real estate mortgage Consumer not The following table details the Company’s loans at March 31, 2024 December 31, 2023: March 31, December 31, 2024 2023 (Dollars In Thousands) Commercial, financial and agricultural $ 2,834,102 $ 2,823,986 Real estate - construction 1,546,716 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,377,042 2,257,163 1-4 family mortgage 1,284,888 1,249,938 Other mortgage 3,777,758 3,744,346 Subtotal: Real estate - mortgage 7,439,688 7,251,447 Consumer 60,190 63,777 Total Loans 11,880,696 11,658,829 Less: Allowance for credit losses (155,892 ) (153,317 ) Net Loans $ 11,724,804 $ 11,505,512 Commercial, financial and agricultural 23.85 % 24.22 % Real estate - construction 13.02 % 13.03 % Real estate - mortgage: Owner-occupied commercial 20.01 % 19.36 % 1-4 family mortgage 10.81 % 10.72 % Other mortgage 31.80 % 32.12 % Subtotal: Real estate - mortgage 62.62 % 62.20 % Consumer 0.51 % 0.55 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no ● Pass – loans which are well protected by the current net worth and paying capacity of the obligor (or obligors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that presently jeopardize debt repayment. These loans are characterized by the distinct possibility that the institution will sustain some loss if the weaknesses are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of March 31, 2024: March 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 107,544 $ 316,897 $ 437,779 $ 344,676 $ 149,733 $ 234,363 $ 1,141,682 $ 430 $ 2,733,104 Special Mention 737 403 1,769 4,277 4,692 6,419 26,880 2 45,179 Substandard - accruing 501 1,364 - 385 427 27,406 5,176 - 35,259 Substandard -Non-accrual - 3,575 226 2,385 206 11,786 2,382 - 20,560 Total Commercial, financial and agricultural $ 108,782 $ 322,239 $ 439,774 $ 351,723 $ 155,058 $ 279,974 $ 1,176,120 $ 432 $ 2,834,102 Current-period gross write-offs $ - $ - $ - $ - $ - $ 1,106 $ 736 $ - $ 1,842 Real estate - construction Pass $ 48,543 $ 254,568 $ 847,543 $ 252,588 $ 50,092 $ 20,705 $ 68,975 $ - $ 1,543,014 Special Mention - 590 - - - - - - 590 Substandard - accruing - - 1,997 - - 973 - - 2,970 Substandard -Non-accrual - - 34 - - - - 108 142 Total Real estate - construction $ 48,543 $ 255,158 $ 849,574 $ 252,588 $ 50,092 $ 21,678 $ 68,975 $ 108 $ 1,546,716 Owner-occupied commercial Pass $ 80,143 $ 171,911 $ 517,845 $ 528,261 $ 290,718 $ 669,803 $ 58,928 $ 834 $ 2,318,443 Special Mention - 5,359 8,785 792 8,279 15,957 - - 39,172 Substandard - accruing - 1,333 - 6,847 - 2,506 - - 10,686 Substandard -Non-accrual - - - - - 8,741 - - 8,741 Total Owner-occupied commercial $ 80,143 $ 178,603 $ 526,630 $ 535,900 $ 298,997 $ 697,007 $ 58,928 $ 834 $ 2,377,042 1-4 family mortgage Pass $ 61,318 $ 155,581 $ 369,024 $ 220,533 $ 77,073 $ 97,362 $ 289,012 $ - $ 1,269,903 Special Mention - 709 428 2,269 764 4,862 905 - 9,937 Substandard - accruing - - - - - 424 117 - 541 Substandard -Non-accrual - 156 433 1,000 643 1,475 800 - 4,507 Total 1-4 family mortgage $ 61,318 $ 156,446 $ 369,885 $ 223,802 $ 78,480 $ 104,123 $ 290,834 $ - $ 1,284,888 Current-period gross write-offs $ - $ - $ - $ 62 $ - $ - $ 5 $ - $ 67 Other mortgage Pass $ 82,631 $ 156,951 $ 1,129,986 $ 1,090,507 $ 429,593 $ 774,646 $ 91,073 $ 247 $ 3,755,634 Special Mention - - 5,034 - - 751 - - 5,785 Substandard - accruing - - 4,958 660 - 10,215 - - 15,833 Substandard -Non-accrual - - - - - 506 - - 506 Total Other mortgage $ 82,631 $ 156,951 $ 1,139,978 $ 1,091,167 $ 429,593 $ 786,118 $ 91,073 $ 247 $ 3,777,758 Consumer Pass $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Total Consumer $ 1,102 $ 21,705 $ 3,467 $ 4,377 $ 1,662 $ 3,849 $ 24,028 $ - $ 60,190 Current-period gross write-offs $ - $ 8 $ - $ - $ - $ - $ 90 $ - $ 98 Total Loans Pass $ 381,281 $ 1,077,613 $ 3,305,644 $ 2,440,942 $ 998,871 $ 1,800,728 $ 1,673,698 $ 1,511 $ 11,680,288 Special Mention 737 7,061 16,016 7,338 13,735 27,989 27,785 2 100,663 Substandard - accruing 501 2,697 6,955 7,892 427 41,524 5,293 - 65,289 Substandard -Non-accrual - 3,731 693 3,385 849 22,508 3,182 108 34,456 Total Loans $ 382,519 $ 1,091,102 $ 3,329,308 $ 2,459,557 $ 1,013,882 $ 1,892,749 $ 1,709,958 $ 1,621 $ 11,880,696 Current-period gross write-offs $ - $ 8 $ - $ 62 $ - $ 1,106 $ 831 $ - $ 2,007 Loans by credit quality indicator, loan type and based on year of origination as of December 31, 2023 December 31, 2023 2023 2022 2021 2020 2019 Prior Revolving Revolving lines of credit converted to term loans Total (In Thousands) Commercial, financial and agricultural Pass $ 341,335 $ 455,281 $ 354,034 $ 162,543 $ 100,032 $ 151,527 $ 1,161,324 $ 491 $ 2,726,567 Special Mention 4,275 1,982 5,105 5,765 1,320 3,549 21,769 7 43,772 Substandard - accruing 1,410 - 2,830 368 9,501 27,962 4,360 - 46,431 Substandard -Non-accrual - 2 767 206 - 3,336 2,905 - 7,216 Total Commercial, financial and agricultural $ 347,020 $ 457,265 $ 362,736 $ 168,882 $ 110,853 $ 186,374 $ 1,190,358 $ 498 $ 2,823,986 Current-period gross write-offs $ 1,213 $ 4,690 $ 2,531 $ 779 $ 4 $ 2,014 $ 1,998 $ - $ 13,229 Real estate - construction Pass $ 216,745 $ 874,903 $ 283,012 $ 49,668 $ 4,866 $ 16,558 $ 72,156 $ - $ 1,517,908 Special Mention 589 - - - - - - - 589 Substandard - accruing - 33 - - - 978 - - 1,011 Substandard -Non-accrual - - - - - - - 111 111 Total Real estate - construction $ 217,334 $ 874,936 $ 283,012 $ 49,668 $ 4,866 $ 17,536 $ 72,156 $ 111 $ 1,519,619 Current-period gross write-offs $ - $ - $ 19 $ - $ - $ - $ - $ 89 $ 108 Owner-occupied commercial Pass $ 148,915 $ 478,364 $ 517,667 $ 300,978 $ 181,864 $ 512,752 $ 64,170 $ 844 $ 2,205,554 Special Mention 5,369 1,411 7,705 8,317 8,530 7,539 - - 38,871 Substandard - accruing 1,358 - - - - 4,292 - - 5,650 Substandard -Non-accrual - - - - 2,329 4,759 - - 7,088 Total Owner-occupied commercial $ 155,642 $ 479,775 $ 525,372 $ 309,295 $ 192,723 $ 529,342 $ 64,170 $ 844 $ 2,257,163 Current-period gross write-offs $ - $ - $ - $ - $ 117 $ - $ - $ - $ 117 1-4 family mortgage Pass $ 166,927 $ 376,964 $ 228,183 $ 75,104 $ 40,697 $ 61,046 $ 286,066 $ - $ 1,234,987 Special Mention 574 721 2,504 1,009 3,865 439 727 - 9,839 Substandard - accruing - - - - - 425 261 - 686 Substandard -Non-accrual 155 380 741 572 877 901 800 - 4,426 Total 1-4 family mortgage $ 167,656 $ 378,065 $ 231,428 $ 76,685 $ 45,439 $ 62,811 $ 287,854 $ - $ 1,249,938 Current-period gross write-offs $ - $ 40 $ - $ - $ - $ 14 $ - $ - $ 54 Other mortgage Pass $ 162,418 $ 1,119,609 $ 1,106,055 $ 448,781 $ 249,059 $ 540,325 $ 100,516 $ 247 $ 3,727,010 Special Mention - - - - - - 850 - 850 Substandard - accruing - 4,975 - - - 11,005 - - 15,980 Substandard -Non-accrual - - - - 130 376 - - 506 Total Other mortgage $ 162,418 $ 1,124,584 $ 1,106,055 $ 448,781 $ 249,189 $ 551,706 $ 101,366 $ 247 $ 3,744,346 Current-period gross write-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - Consumer Pass $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Special Mention - - - - - - - - - Substandard - accruing - - - - - - - - - Substandard -Non-accrual - - - - - - - - - Total Consumer $ 22,227 $ 3,890 $ 4,542 $ 1,794 $ 1,295 $ 2,687 $ 27,342 $ - $ 63,777 Current-period gross write-offs $ - $ - $ - $ - $ 4 $ 49 $ 1,020 $ - $ 1,073 Total Loans Pass $ 1,058,567 $ 3,309,011 $ 2,493,493 $ 1,038,868 $ 577,813 $ 1,284,895 $ 1,711,574 $ 1,582 $ 11,475,803 Special Mention 10,807 4,114 15,314 15,091 13,715 11,527 23,346 7 93,921 Substandard - accruing 2,768 5,008 2,830 368 9,501 44,662 4,621 - 69,758 Substandard -Non-accrual 155 382 1,508 778 3,336 9,372 3,705 111 19,347 Total Loans $ 1,072,297 $ 3,318,515 $ 2,513,145 $ 1,055,105 $ 604,365 $ 1,350,456 $ 1,743,246 $ 1,700 $ 11,658,829 Current-period gross write-offs $ 1,213 $ 4,730 $ 2,550 $ 779 $ 125 $ 2,077 $ 3,018 $ 89 $ 14,581 Loans by performance status as of March 31, 2024 December 31, 2023 March 31, 2024 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,813,190 $ 20,912 $ 2,834,102 Real estate - construction 1,546,574 142 1,546,716 Real estate - mortgage: Owner-occupied commercial 2,368,301 8,741 2,377,042 1-4 family mortgage 1,280,381 4,507 1,284,888 Other mortgage 3,777,252 506 3,777,758 Total real estate - mortgage 7,425,934 13,754 7,439,688 Consumer 60,161 29 60,190 Total $ 11,845,859 $ 34,837 $ 11,880,696 December 31, 2023 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,816,599 $ 7,387 $ 2,823,986 Real estate - construction 1,519,508 111 1,519,619 Real estate - mortgage: Owner-occupied commercial 2,250,074 7,089 2,257,163 1-4 family mortgage 1,243,603 6,335 1,249,938 Other mortgage 3,743,840 506 3,744,346 Total real estate - mortgage 7,237,517 13,930 7,251,447 Consumer 63,672 105 63,777 Total $ 11,637,296 $ 21,533 $ 11,658,829 Loans by past due status as of March 31, 2024 December 31, 2023 March 31, 2024 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With No ACL (In Thousands) Commercial, financial and agricultural $ 9,962 $ 444 $ 351 $ 10,757 $ 20,561 $ 2,802,784 $ 2,834,102 $ 4,479 Real estate - construction - - - - 142 1,546,574 1,546,716 142 Real estate - mortgage: Owner-occupied commercial 1,241 103 - 1,344 8,741 2,366,957 2,377,042 6,939 1-4 family mortgage 3,623 951 - 4,574 4,507 1,275,807 1,284,888 1,199 Other mortgage - - - - 506 3,777,252 3,777,758 506 Total real estate - mortgage 4,864 1,054 - 5,918 13,754 7,420,016 7,439,688 8,644 Consumer 115 74 29 218 - 59,972 60,190 - Total $ 14,941 $ 1,572 $ 380 $ 16,893 $ 34,457 $ 11,829,346 $ 11,880,696 $ 13,265 December 31, 2023 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With No ACL (In Thousands) Commercial, financial and agricultural $ 3,418 $ 3,718 $ 170 $ 7,306 $ 7,217 $ 2,809,463 2,823,986 $ 5,028 Real estate - construction - 34 - 34 111 1,519,474 1,519,619 - Real estate - mortgage: Owner-occupied commercial - - - - 7,089 2,250,074 2,257,163 7,089 1-4 family mortgage 540 4,920 1,909 7,369 4,426 1,238,143 1,249,938 1,224 Other mortgage 676 10,703 - 11,379 506 3,732,461 3,744,346 506 Total real estate - mortgage 1,216 15,623 1,909 18,748 12,021 7,220,678 7,251,447 8,819 Consumer 58 31 105 194 - 63,583 63,777 - Total $ 4,692 $ 19,406 $ 2,184 $ 26,282 $ 19,349 $ 11,613,198 11,658,829 $ 13,847 Under the current expected credit losses (“CECL”) methodology, the ACL is measured on a collective basis for pools of loans with similar risk characteristics. For loans that do not not The Company uses the discounted cash flow (“DCF”) method to estimate ACL for all loan pools except for commercial revolving lines of credit and credit cards. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment rate as a loss driver. The Company also utilizes and forecasts GDP growth as a second March 31, 2024 December 31, 2023, twelve six December 31, 2023 The Company uses a loss-rate method to estimate expected credit losses for its commercial revolving lines of credit and credit card pools. The commercial revolving lines of credit pool incorporates a probability of default (“PD”) and loss given default (“LGD”) modeling approach. This approach involves estimating the pool average life and then using historical correlations of default and loss experience over time to calculate the lifetime PD and LGD. These two Each loan pool is adjusted for qualitative factors not Inherent risks in the loan portfolio will differ based on type of loan. Specific risk characteristics by loan portfolio segment are listed below: Commercial and industrial loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the ACL, segregated by loan type, for the three March 31, 2024 March 31, 2023. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2024 Allowance for credit losses: Balance at December 31, 2023 $ 52,121 $ 44,658 $ 55,126 $ 1,412 $ 153,317 Charge-offs (1,842 ) - (67 ) (98 ) (2,007 ) Recoveries 199 - 6 9 214 Provision 544 1,031 2,575 218 4,368 Balance at March 31, 2024 $ 51,022 $ 45,689 $ 57,640 $ 1,541 $ 155,892 Three Months Ended March 31, 2023 Allowance for credit losses: Balance at December 31, 2022 $ 42,830 $ 42,889 $ 58,652 $ 1,926 $ 146,297 Charge-offs (1,257 ) - (26 ) (390 ) (1,673 ) Recoveries 128 3 1 11 143 Provision 1,193 (2,409 ) 4,530 883 4,197 Balance at March 31, 2023 $ 42,894 $ 40,483 $ 63,157 $ 2,430 $ 148,964 We maintain an ACL on unfunded commercial lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The ACL is computed using a methodology similar to that used to determine the ACL for loans, modified to take into account the probability of a drawdown on the commitment. The ACL on unfunded loan commitments is classified as a liability account on the Consolidated Balance Sheets within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The ACL on unfunded commitments was $742,000 at March 31, 2024 December 31, 2023. three March 31, 2024 2023 zero Loans that no Accounts ACL March 31, 2024 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 18,467 $ 3,834 $ 3,673 $ 29,841 $ 55,815 $ 15,495 Real estate - construction 2,142 - - 972 3,114 - Real estate - mortgage: Owner-occupied commercial 19,476 - - - 19,476 241 1-4 family mortgage 15,542 - - - 15,542 1,580 Other mortgage 5,808 - - - 5,808 568 Total real estate - mortgage 40,826 - - - 40,826 2,389 Consumer - - - - - - Total $ 61,435 $ 3,834 $ 3,673 $ 30,813 $ 99,755 $ 17,884 Accounts ACL December 31, 2023 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 20,266 $ 7,240 $ 2,126 $ 24,016 $ 53,648 $ 16,189 Real estate - construction 145 - - 978 1,123 1 Real estate - mortgage: Owner-occupied commercial 12,038 - - 698 12,736 475 1-4 family mortgage 15,694 - - - 15,694 1,058 Other mortgage 5,062 - - 800 5,862 603 Total real estate - mortgage 32,794 - - 1,498 34,292 2,136 Consumer - - - - - - Total $ 53,205 $ 7,240 $ 2,126 $ 26,492 $ 89,063 $ 18,326 The table below details the amortized cost basis at the end of the reporting period for loans made to borrowers experiencing financial difficulty that were modified during the three March 31, 2024 2023: Three Months Ended March 31, 2024 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 5,568 $ - $ 5,568 0.05 % Real estate - construction 973 - 973 0.01 % Owner-occupied commercial 1,501 - 1,501 0.01 % 1-4 family mortgage 424 - 424 - % Other mortgage 9,913 - 9,913 0.08 % Total $ 18,379 $ - $ 18,379 0.15 % Three Months Ended March 31, 2023 Payment Deferral Term and Term Percentage of Extensions Extensions Total Total Loans (In Thousands) Commercial, financial and agricultural $ 28,335 $ - $ 28,335 0.24 % Owner-occupied commercial 23 701 724 0.01 % 1-4 family mortgage 214 - 214 - % Other mortgage 11,254 359 11,613 0.10 % Total $ 39,827 $ 1,060 $ 40,886 0.35 % The following table summarizes the financial impacts of loan modifications made to borrowers experiencing financial difficulty during the three March 31, 2024 2023: Three Months Ended March 31, 2024 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 1 to 6 $ - Real estate - construction 12 - Owner-occupied commercial 12 - 1-4 family mortgage 12 - Other mortgage 11 - Three Months Ended March 31, 2023 Total Payment Term Extensions Deferral (In months) (In Thousands) Commercial, financial and agricultural 3 to 12 $ - Real estate - construction 6 - Owner-occupied commercial 3 to 18 49 1-4 family mortgage 3 - Other mortgage 3 to 36 59 No March 31, 2023, 30 March 31, 2024. As of March 31, 2024, not first 2024 90 |