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 In light of the U.S. and global economic crisis brought about by the COVID- 19 500 March 31, 2021, April 2020, March 31, 2021 December 31, 2020, three March 31, 2021 2020 March 31, 2021 December 31, 2020, No The following table details the Company’s loans at March 31, 2021 December 31, 2020: March 31, December 31, 2021 2020 (Dollars In Thousands) Commercial, financial and agricultural $ 3,323,093 $ 3,295,900 Real estate - construction 666,592 593,614 Real estate - mortgage: Owner-occupied commercial 1,698,695 1,693,428 1-4 family mortgage 685,840 711,692 Other mortgage 2,068,560 2,106,184 Subtotal: Real estate - mortgage 4,453,095 4,511,304 Consumer 62,200 64,870 Total Loans 8,504,980 8,465,688 Less: Allowance for credit losses (94,906 ) (87,942 ) Net Loans $ 8,410,074 $ 8,377,746 Commercial, financial and agricultural 39.07 % 38.93 % Real estate - construction 7.84 % 7.01 % Real estate - mortgage: Owner-occupied commercial 19.97 % 20.00 % 1-4 family mortgage 8.07 % 8.41 % Other mortgage 24.32 % 24.88 % Subtotal: Real estate - mortgage 52.36 % 53.29 % Consumer 0.73 % 0.77 % 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, 2021: Revolving March 31, 2021 2021 2020 2019 2018 2017 Prior Loans Total (In Thousands) Commercial, financial and agricultural Pass $ 451,136 $ 942,305 $ 305,491 $ 202,837 $ 153,959 $ 196,657 $ 993,613 $ 3,245,998 Special Mention 557 1,430 227 9 1,386 384 10,814 14,807 Substandard - 559 10,570 567 3,741 2,570 44,281 62,288 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 451,693 $ 944,294 $ 316,288 $ 203,413 $ 159,086 $ 199,611 $ 1,048,708 $ 3,323,093 Real estate - construction Pass $ 40,168 $ 250,260 $ 238,486 $ 54,129 $ 15,879 $ 19,009 $ 48,426 $ 666,357 Special Mention - - - - - - - - Substandard - - - - - 235 - 235 Doubtful - - - - - - - - Total Real estate - construction $ 40,168 $ 250,260 $ 238,486 $ 54,129 $ 15,879 $ 19,244 $ 48,426 $ 666,592 Owner-occupied commercial Pass $ 51,008 $ 364,982 $ 263,789 $ 207,599 $ 199,276 $ 551,086 $ 55,790 $ 1,693,530 Special Mention - - - - 289 1,941 200 2,430 Substandard - - - - 780 1,716 239 2,735 Doubtful - - - - - - - - Total Owner-occupied commercial $ 51,008 $ 364,982 $ 263,789 $ 207,599 $ 200,345 $ 554,743 $ 56,229 $ 1,698,695 1-4 family mortgage Pass $ 34,862 $ 170,574 $ 99,727 $ 65,064 $ 50,130 $ 61,073 $ 199,658 $ 681,088 Special Mention - 680 433 129 104 481 1,111 2,938 Substandard - 150 367 - 233 217 847 1,814 Doubtful - - - - - - - - Total 1-4 family mortgage $ 34,862 $ 171,404 $ 100,527 $ 65,193 $ 50,467 $ 61,771 $ 201,616 $ 685,840 Other mortgage Pass $ 90,376 $ 458,320 $ 442,499 $ 216,211 $ 333,266 $ 431,485 $ 71,610 $ 2,043,767 Special Mention - - - - 2,775 8,989 - 11,764 Substandard - - - 4,567 8,462 - - 13,029 Doubtful - - - - - - - - Total Other mortgage $ 90,376 $ 458,320 $ 442,499 $ 220,778 $ 344,503 $ 440,474 $ 71,610 $ 2,068,560 Consumer Pass $ 3,588 $ 16,111 $ 3,990 $ 1,332 $ 1,311 $ 4,373 $ 31,451 $ 62,156 Special Mention - - - 13 - 31 - 44 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 3,588 $ 16,111 $ 3,990 $ 1,345 $ 1,311 $ 4,404 $ 31,451 $ 62,200 Total Loans Pass $ 671,138 $ 2,202,552 $ 1,353,982 $ 747,172 $ 753,821 $ 1,263,683 $ 1,400,548 $ 8,392,896 Special Mention 557 2,110 660 151 4,554 11,826 12,125 31,983 Substandard - 709 10,937 5,134 13,216 4,738 45,367 80,101 Doubtful - - - - - - - - Total Loans $ 671,695 $ 2,205,371 $ 1,365,579 $ 752,457 $ 771,591 $ 1,280,247 $ 1,458,040 $ 8,504,980 Loans by credit quality indicator, loan type and based on year of origination as of December 31, 2020 Revolving December 31, 2020 2020 2019 2018 2017 2016 Prior Loans Total (In Thousands) Commercial, financial and agricultural Pass $ 1,260,341 $ 332,690 $ 229,838 $ 169,616 $ 89,893 $ 137,021 $ 988,093 $ 3,207,492 Special Mention 2,551 1,404 10 253 163 281 14,948 19,610 Substandard 569 10,639 617 5,447 963 2,038 48,525 68,798 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 1,263,461 $ 344,733 $ 230,465 $ 175,316 $ 91,019 $ 139,340 $ 1,051,566 $ 3,295,900 Real estate - construction Pass $ 230,931 $ 222,357 $ 53,981 $ 16,361 $ 7,677 $ 13,816 $ 48,256 $ 593,379 Special Mention - - - - - - - - Substandard - - - - - 235 - 235 Doubtful - - - - - - - - Total Real estate - construction $ 230,931 $ 222,357 $ 53,981 $ 16,361 $ 7,677 $ 14,051 $ 48,256 $ 593,614 Owner-occupied commercial Pass $ 351,808 $ 271,645 $ 221,513 $ 198,935 $ 158,531 $ 417,743 $ 61,119 $ 1,681,294 Special Mention - - - 6,524 543 1,873 200 9,140 Substandard - - 12 780 - 1,962 240 2,994 Doubtful - - - - - - - - Total Owner-occupied commercial $ 351,808 $ 271,645 $ 221,525 $ 206,239 $ 159,074 $ 421,578 $ 61,559 $ 1,693,428 1-4 family mortgage Pass $ 179,314 $ 111,016 $ 70,381 $ 60,774 $ 27,985 $ 44,111 $ 212,616 $ 706,197 Special Mention 508 - - 105 481 - 1,112 2,206 Substandard 350 126 - 235 218 - 2,360 3,289 Doubtful - - - - - - - - Total 1-4 family mortgage $ 180,172 $ 111,142 $ 70,381 $ 61,114 $ 28,684 $ 44,111 $ 216,088 $ 711,692 Other mortgage Pass $ 470,086 $ 470,092 $ 250,945 $ 368,283 $ 180,244 $ 272,722 $ 68,721 $ 2,081,093 Special Mention - - - 2,793 541 8,566 - 11,900 Substandard - 50 4,589 8,552 - - - 13,191 Doubtful - - - - - - - - Total Other mortgage $ 470,086 $ 470,142 $ 255,534 $ 379,628 $ 180,785 $ 281,288 $ 68,721 $ 2,106,184 Consumer Pass $ 20,410 $ 4,421 $ 1,551 $ 1,671 $ 1,031 $ 3,615 $ 32,125 $ 64,824 Special Mention - - 15 - 31 - - 46 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 20,410 $ 4,421 $ 1,566 $ 1,671 $ 1,062 $ 3,615 $ 32,125 $ 64,870 Total Loans Pass $ 2,512,890 $ 1,412,221 $ 828,209 $ 815,640 $ 465,361 $ 889,028 $ 1,410,930 $ 8,334,279 Special Mention 3,059 1,404 25 9,675 1,759 10,720 16,260 42,902 Substandard 919 10,815 5,218 15,014 1,181 4,235 51,125 88,507 Doubtful - - - - - - - - Total Loans $ 2,516,868 $ 1,424,440 $ 833,452 $ 840,329 $ 468,301 $ 903,983 $ 1,478,315 $ 8,465,688 Loans by performance status as of March 31, 2021 December 31, 2020 March 31, 2021 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,313,167 $ 9,926 $ 3,323,093 Real estate - construction 666,358 234 666,592 Real estate - mortgage: Owner-occupied commercial 1,696,686 2,009 1,698,695 1-4 family mortgage 684,917 923 685,840 Other mortgage 2,063,799 4,761 2,068,560 Total real estate - mortgage 4,445,402 7,693 4,453,095 Consumer 62,161 39 62,200 Total $ 8,487,088 $ 17,892 $ 8,504,980 December 31, 2020 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 3,284,180 $ 11,720 $ 3,295,900 Real estate - construction 593,380 234 593,614 Real estate - mortgage: Owner-occupied commercial 1,692,169 1,259 1,693,428 1-4 family mortgage 710,817 875 711,692 Other mortgage 2,101,379 4,805 2,106,184 Total real estate - mortgage 4,504,365 6,939 4,511,304 Consumer 64,809 61 64,870 Total $ 8,446,734 $ 18,954 $ 8,465,688 Loans by past due status as of March 31, 2021 December 31, 2020 March 31, 2021 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 $ 119 $ - $ 4 $ 123 $ 9,922 $ 3,313,048 $ 3,323,093 $ 6,946 Real estate - construction - - - - 234 666,358 666,592 - Real estate - mortgage: Owner-occupied commercial - - - - 2,009 1,696,686 1,698,695 1,229 1-4 family mortgage 782 178 - 960 923 683,957 685,840 327 Other mortgage 15 - 4,761 4,776 - 2,063,784 2,068,560 - Total real estate - mortgage 797 178 4,761 5,736 2,932 4,444,427 4,453,095 1,556 Consumer 89 10 39 138 - 62,062 62,200 - Total $ 1,005 $ 188 $ 4,804 $ 5,997 $ 13,088 $ 8,485,895 $ 8,504,980 $ 8,502 December 31, 2020 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 $ 92 $ 1,738 $ 11 $ 1,841 $ 11,709 $ 3,282,350 $ 3,295,900 $ 5,101 Real estate - construction - - - - 234 593,380 593,614 - Real estate - mortgage: Owner-occupied commercial - 995 - 995 1,259 1,691,174 1,693,428 467 1-4 family mortgage 61 1,073 104 1,238 771 709,683 711,692 512 Other mortgage 18 - 4,805 4,823 - 2,101,361 2,106,184 - Total real estate - mortgage 79 2,068 4,909 7,056 2,030 4,502,218 4,511,304 979 Consumer 64 13 61 138 - 64,732 64,870 - Total $ 235 $ 3,819 $ 4,981 $ 9,035 $ 13,973 $ 8,442,680 $ 8,465,688 $ 6,080 As described in Note 9 2016 13 January 1, 2020, 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, 2021 December 31, 2020, twelve six 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 allowance for credit losses, and allowance for loan losses, segregated by loan type, for the three March 31, 2021 March 31, 2020. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended March 31, 2021 Allowance for credit losses: Balance at December 31, 2020 $ 36,370 $ 16,057 $ 33,722 $ 1,793 $ 87,942 Charge-offs (477 ) - (12 ) (87 ) (576 ) Recoveries 26 50 1 12 89 Provision 2,313 3,284 1,896 (42 ) 7,451 Balance at March 31, 2021 $ 38,232 $ 19,391 $ 35,607 $ 1,676 $ 94,906 Three Months Ended March 31, 2020 Allowance for loan losses: Balance at December 31, 2019 $ 43,666 $ 2,768 $ 29,653 $ 497 $ 76,584 Charge-offs (2,640 ) (454 ) (1,678 ) (58 ) (4,830 ) Recoveries 62 1 1 12 76 Provision 7,692 1,442 4,384 66 13,584 Balance at March 31, 2020 $ 48,780 $ 3,757 $ 32,360 $ 517 $ 85,414 The following table details the allowance for loan losses and recorded investment in loans by impairment evaluation method as of March 31, 2020, 310 2016 13: Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Allowance for loan losses: Individually Evaluated for Impairment $ 8,840 $ 351 $ 931 $ - $ 10,122 Collectively Evaluated for Impairment 39,940 3,406 31,429 517 75,292 Loans: Ending Balance $ 2,771,307 $ 548,578 $ 4,188,539 $ 60,412 $ 7,568,836 Individually Evaluated for Impairment 44,868 1,834 13,815 9 60,526 Collectively Evaluated for Impairment 2,726,439 546,744 4,174,724 60,403 7,508,310 We maintain an allowance for credit losses on unfunded commercial lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses for loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the balance sheet within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The allowance for credit losses on unfunded commitments was $2.8 million at March 31, 2021 December 31, 2020. three March 31, 2021 March 31, 2020 January 1, 2020, 2020 not Loans that no Accounts ACL March 31, 2021 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 13,987 $ 24,957 $ 17,742 $ 5,603 $ 62,289 $ 8,675 Real estate - construction 235 - - - 235 1 Real estate - mortgage: Owner-occupied commercial 2,007 729 - - 2,736 497 1-4 family mortgage 1,738 - - 25 1,763 - Other mortgage 13,079 - - - 13,079 - Total real estate - mortgage 16,824 729 - 25 17,578 497 Consumer - - - - - - Total $ 31,046 $ 25,686 $ 17,742 $ 5,628 $ 80,102 $ 9,173 Accounts ACL December 31, 2020 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 19,373 $ 27,952 $ 16,877 $ 4,594 $ 68,796 $ 7,142 Real estate - construction 235 - - - 235 1 Real estate - mortgage: Owner-occupied commercial 2,012 971 - 12 2,995 499 1-4 family mortgage 3,264 - - 24 3,288 48 Other mortgage 13,191 - - - 13,191 - Total real estate - mortgage 18,467 971 - 36 19,474 547 Consumer - - - - - - Total $ 38,075 $ 28,923 $ 16,877 $ 4,630 $ 88,505 $ 7,690 On March 22, 2020, may 19. 4013 March 1, 2020 December 31, 2020 60 19 April 2020 4013 December 27, 2020, 2021, 4013 January 1, 2022 60 19 19 not 180 March 31, 2021, 19 19 March 31, 2021. Troubled Debt Restructurings (“TDR”) at March 31, 2021, December 31, 2020 March 31, 2020 March 31, 2021, December 31, 2020 March 31, 2020 March 31, 2021 March 31, 2020 Three Months Ended March 31, 2021 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 2 $ 1,155 $ 1,155 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial 1 991 991 1-4 family mortgage - - - Other mortgage - - - Total real estate mortgage 1 991 991 Consumer - - - 3 $ 2,146 $ 2,146 Three Months Ended March 31, 2020 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 1 $ 350 $ 350 Real estate - construction - - - Real estate - mortgage: Owner-occupied commercial - - - 1-4 family mortgage - - - Other mortgage - - - Total real estate mortgage - - - Consumer - - - 1 $ 350 $ 350 There were no loans which were modified in the previous twelve twelve three March 31, 2021 March 31, 2020. 90 |