UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
FOR ANNUAL
REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
(Mark one)
| ☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2023
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
ACT OF 1934 |
For the transition period from _________ to _________.
Commission file number: 001-36452
| A. | Full title of the plan and the address of the plan, if different from that of the issuer
named below: |
ServisFirst Bank 401(k) Profit Sharing
Plan and Trust
| B. | Name of issuer of the securities held pursuant to the plan and the address of its principal
executive office: |
ServisFirst Bancshares, Inc.
| 2500 Woodcrest Place, Birmingham, Alabama | |
35209 |
| (Address of principal executive offices) | |
(Zip code) |
SERVISFIRST BANK 401(k) Profit Sharing
Plan and Trust
Financial Statements and Supplemental Schedule
As of and for the years ended December 31,
2023 and 2022
(With Report of Independent Registered Public
Accounting Firm)
Table of Contents
Report of Independent Registered Public
Accounting Firm
Plan Administrator, Plan Participants, and the Fiduciary Investment and Administrative
Committee
ServisFirst Bank 401(k) Profit Sharing Plan & Trust
Opinion on the Financial Statements
We have audited the accompanying statements of net
assets available for plan benefits of ServisFirst Bank 401(k) Profit Sharing Plan & Trust (the “Plan”) as of
December 31, 2023 and 2022, the related statements of changes in net assets available for plan benefits for the years then ended,
and the related notes and schedule (collectively referred to as the “financial statements”). In our opinion, the
financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the
Plan as of December 31, 2023 and 2022, and the changes in net assets available for plan benefits for the years then ended in
conformity with accounting principles generally accepted in the United States of America.
Basis of Opinion
These financial statements are the responsibility of the
Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.
We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in
accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and
the PCAOB.
We conducted our audits in accordance with the standards
of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an
audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control
over financial reporting. Accordingly, we express no such opinion.
Our audits included performing procedures to assess the
risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Report on Supplemental
Information
The supplemental information in the accompanying schedule
of assets (held at end of year) as of December 31, 2023 has been subjected to audit procedures performed in conjunction with the audit
of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures
included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records,
as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule.
In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form
and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. In our opinion, the schedule of assets (held at end of year) is fairly
stated, in all material respects, in relation to the basic financial statements taken as a whole.
/s/ FORVIS, LLP
We have served as the Plan’s auditor since 2017.
Charlotte, North Carolina
May 31, 2024
SERVISFIRST BANK 401(k) PROFIT SHARING PLAN AND TRUST
Statements of Net Assets Available for Plan Benefits
December 31, 2023 and 2022
| | |
2023 | |
2022 |
| Investments, at fair value | |
$ | 55,463,160 | | |
$ | 46,537,271 | |
| | |
| | | |
| | |
| Investments, at contract value | |
| 1,473,695 | | |
| 3,253,955 | |
| | |
| | | |
| | |
| Receivables: | |
| | | |
| | |
| Company contributions | |
| 72,380 | | |
| 68,403 | |
| Participant contributions | |
| 139,469 | | |
| 134,532 | |
| | |
| | | |
| | |
| Net assets available for plan benefits | |
$ | 57,148,704 | | |
$ | 49,994,161 | |
See accompanying notes to financial statements.
SERVISFIRST BANK 401(k) PROFIT SHARING PLAN AND TRUST
Statements of Changes in Net Assets Available for Plan Benefits
Years Ended December 31, 2023 and 2022
| | |
2023 | |
2022 |
| Additions | |
| |
|
| Investment income: | |
| | | |
| | |
| Net appreciation (depreciation) in investments | |
$ | 6,900,378 | | |
$ | (10,248,768 | ) |
| Interest and dividends | |
| 1,116,084 | | |
| 1,018,195 | |
| Other income | |
| 8,028 | | |
| 6,273 | |
| Total investment income (loss) | |
| 8,024,490 | | |
| (9,224,300 | ) |
| | |
| | | |
| | |
| Contributions: | |
| | | |
| | |
| Company | |
| 2,403,930 | | |
| 2,147,479 | |
| Participants | |
| 4,757,955 | | |
| 4,138,118 | |
| Rollovers | |
| 750,722 | | |
| 1,580,969 | |
| Total contributions | |
| 7,912,607 | | |
| 7,866,566 | |
| | |
| | | |
| | |
| Total additions (deductions) | |
| 15,937,097 | | |
| (1,357,734 | ) |
| | |
| | | |
| | |
| Deductions | |
| | | |
| | |
| Benefits paid to participants and beneficiaries | |
| 8,654,840 | | |
| 4,871,719 | |
| Plan expenses | |
| 127,714 | | |
| 130,539 | |
| Total deductions | |
| 8,782,554 | | |
| 5,002,258 | |
| | |
| | | |
| | |
| Net increase (decrease) in net assets available for plan benefits | |
| 7,154,543 | | |
| (6,359,992 | ) |
| | |
| | | |
| | |
| Net assets available for plan benefits: | |
| | | |
| | |
| Beginning of year | |
| 49,994,161 | | |
| 56,354,153 | |
| End of year | |
$ | 57,148,704 | | |
$ | 49,994,161 | |
See accompanying notes to financial statements.
SERVISFIRST BANK 401(k) PROFIT SHARING PLAN AND TRUST
NOTES TO FINANCIAL STATEMENTS
December 31, 2023 and 2022
The following description of the ServisFirst Bank 401(k) Profit Sharing
Plan and Trust (the “Plan”) provides only general information. Participants should refer to the plan document for a complete
description of the Plan’s provisions.
General
The Plan is a defined contribution plan covering all employees of ServisFirst
Bank (the “Company”) who have attained age 21 except union employees whose employment is governed under a collective bargaining
agreement and certain nonresident aliens who have no earned income from sources within the United States. The plan is subject to the provisions
of the Employee Retirement Income Security Act of 1974 (“ERISA”).
Plan Amendment/Transfer
Effective September 1, 2022, the Plan was amended and restated (“Plan
Amendment”) and a new trustee, administrator and custodian (“Trustee”) of the Plan was appointed. Plan assets transferred
to the new Trustee were transferred into either identical or comparable funds to those offered by the previous custodian. The conversion
initiated a “Black Out” period starting on August 29, 2022 and ending on September 18, 2022, during which funds could not
be applied to the employee-selected funds with the Trustee or withdrawn from the Plan until the Trustee had time to accurately complete
the conversion. During this period, employee contributions continued to be made through payroll deductions and the contributions were
deposited and held in one of the mutual funds until the completion of the Black Out period. At the end of the Black Out period, these
funds were transferred to the new Trustee and invested in funds as requested by each participant.
Contributions
Participants contribute a percentage of pretax and Roth after-tax annual
compensation (as defined by the Plan), not to exceed federal limits. Participants who have attained age 50 before the end of the Plan
year are eligible to make catch-up contributions. Participants may also contribute amounts representing distributions from other qualified
defined benefit or defined contribution plans. The Company contributes a safe harbor matching contribution equal to 100 percent of participant
salary deferrals that do not exceed 4% of compensation. The Company may also contribute discretionary matching or profit- sharing contributions
as determined by the Company’s Board of Directors. No such discretionary contribution was made in 2023 or 2022.
Investment Options
Participants direct the investment of their accounts into various investment
options offered by the Plan. The Plan currently offers investments in various mutual funds, a stable value investment contract and the
common stock of ServisFirst Bancshares, Inc., the Company’s parent company.
Participant Accounts
Each participant’s account is credited with the participant’s
contribution, the Company’s contribution, Plan earnings or losses from that account’s investment activities, and is charged
with benefit payments and allocations of administrative expenses. Allocations are based on participant earnings or account balance, as
defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.
Administration
The Plan is administered by the Senior Vice President of Human Resources
of the Company (the “plan administrator”). The plan administrator is responsible for general administration of the Plan
and interpretation and execution of the Plan’s provisions. On September 1, 2022, Charles Schwab Trust Bank succeeded Lincoln
Financial Group Trust Company, LLC as custodian of the Plan’s assets. Charles Schwab Trust Bank also serves as Plan trustee. Envestnet
Retirement Services serves as an investment advisor. Schwab Retirement Plan Services, Inc. now serves as the recordkeeper and third-party
administrator (“TPA”) for the Plan, effective at the same time as the custodian/trustee transfer. Previously, Lincoln Retirement
Services Company, LLC performed recordkeeping services and FuturePlan by Ascensus served as the Plan’s TPA.
Payment of Benefits
On termination of service due to separation, death, disability, or retirement,
a participant may elect to receive a lump-sum amount equal to the value of the participant’s vested interest in his or her account.
A participant may also elect installment payments over a fixed reasonable period of time for required minimum distributions only. A participant
may obtain an in-service or hardship withdrawal from his or her tax-deferred contributions subject to certain conditions and penalties
(as defined by the Plan).
Vesting
Participants are immediately vested in their voluntary and safe harbor
matching contributions plus actual earnings thereon. Vesting in the Company’s discretionary contribution portion of their accounts
plus earnings thereon is based on years of continuous service. A participant is 100 percent vested in discretionary contributions after
five years of credited service.
Forfeited Accounts
Forfeitures of terminated, nonvested participant accounts may first be
used to pay plan expenses and then may be used to reduce current or future Company discretionary contributions or reallocated to participant
accounts as an additional Company contribution. At December 31, 2023, forfeited non-vested accounts totaled $5,441.
Notes Receivable from Participants
The Plan does not permit loans to participants.
Plan Termination
Although the Company has not expressed any intent to do so, it has the
right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the
event of plan termination, participants would become 100 percent vested in their Company contributions.
Administrative Expenses
Certain administrative expenses, including accounting fees, have been paid
by the Company. Contract administrative fees are paid by the Participants.
| (2) | Summary of Significant Accounting Policies |
Basis of Presentation
The financial statements of the Plan are prepared on the accrual basis
of accounting in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Investment Valuation and Income Recognition
Investments are reported at fair value, except for fully benefit-responsive
investment contracts which are reported at contract value. Fair value is the price that would be received to sell an asset or paid to
transfer a liability in an orderly transaction between market participants at the measurement date. Contract value is the relevant measure
for fully benefit-responsive investment contracts because this is the amount received by participants if they were to initiate permitted
transactions made under each contract, plus earnings, less participant withdrawals, and administrative expenses. Management of the Company
determines the Plan’s valuation policies utilizing information provided by the investment advisers and trustee. See Note 3 and Note
4 for discussion of fair value measurements and contract value, respectively.
Purchases and sales of securities are recorded on a trade-date basis. Interest
income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation and depreciation includes the
Plan’s gains and losses on investments bought and sold as well as held during the year.
The Plan provides for investments in various investment securities that
in general are exposed to various risks, such as interest rate, credit, and overall market liquidity. Due to the level of risk associated
with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near
term and that such changes could materially affect the amounts reported in the statements of net assets available for benefits.
Payment of Benefits
Benefits are recorded upon distribution.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires
management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could
differ from those estimates.
| (3) | Fair Value Measurements |
The framework for measuring fair value provides a fair value hierarchy
that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted
quoted prices in active markets for identical financial instruments (level 1) and the lowest priority to unobservable inputs (level 3).
Measurement of fair value under U.S. GAAP establishes a hierarchy that
prioritizes observable and unobservable inputs used to measure fair value, as of the measurement date, into three broad levels, which
are described below:
| Level 1 | Inputs to the valuation methodology are unadjusted quoted prices for identical assets
or liabilities in active markets that the Plan has the ability to access. |
| Level 2 | Inputs to the valuation methodology include: |
| · | Quoted prices for similar assets or liabilities in active markets, |
| · | Quoted prices for identical or similar assets or liabilities in inactive markets, |
| · | Inputs other than quoted prices that are observable for the asset or liability, and |
| · | Inputs that are derived principally from or corroborated by observable market data by correlation or other
means. |
If the financial instrument has a specified (contractual) term,
the level 2 input must be observable for substantially the full term of the asset or liability.
| Level 3 | Inputs to the valuation methodology are unobservable and significant to the fair value
measurement. |
The financial instrument’s fair value measurement level within the
fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques
used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
The following tables present the Plan’s investments at fair value
as of December 31, 2023 and 2022:
| | |
Investments at Fair Value as of December 31, 2023 |
| | |
Level 1 | |
Level 2 | |
Level 3 | |
Total |
| Mutual funds | |
$ | 50,227,025 | | |
$ | - | | |
$ | - | | |
$ | 50,227,025 | |
| Common stock of ServisFirst Bancshares, Inc. | |
| 5,236,135 | | |
| - | | |
| - | | |
| 5,236,135 | |
| Total assets in the fair value hierarchy | |
$ | 55,463,160 | | |
$ | - | | |
$ | - | | |
$ | 55,463,160 | |
| | |
Investments at Fair Value as of December 31, 2022 |
| | |
Level 1 | |
Level 2 | |
Level 3 | |
Total |
| Mutual funds | |
$ | 42,286,814 | | |
$ | - | | |
$ | - | | |
$ | 42,286,814 | |
| Common stock of ServisFirst Bancshares, Inc. | |
| 4,250,457 | | |
| - | | |
| - | | |
| 4,250,457 | |
| Total assets in the fair value hierarchy | |
$ | 46,537,271 | | |
$ | - | | |
$ | - | | |
$ | 46,537,271 | |
The Plan recognizes transfers between the levels as of the actual date
of the event or change in circumstances that caused the transfer. There were no gross transfers between the levels for the year ended
December 31, 2023.
The following is a description of the valuation methodologies used for
assets measured at fair value. There have been no changes in the methodologies used at December 31, 2023 and 2022.
Mutual funds
Mutual funds are valued at the daily closing price
as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that are registered with the Securities and Exchange
Commission. These funds are required to publish their daily net asset value (NAV) and to transact at that price. The mutual funds held
by the Plan are deemed to be actively traded.
Common stocks
Common stocks in the Plan are publicly traded
investments, and are valued daily at the closing price reported on the active market on which the individual securities are traded.
The methods described above may produce a fair value calculation that may
not be indicative of net realizable value or reflective of future fair values.
| (4) | Fully Benefit-Responsive Investment Contract |
The Lincoln Stable Value Fixed Account (Fixed Account) is a fully benefit-responsive
investment contract issued by the Lincoln National Life Insurance Company with the backing of their general account. As it is not a portfolio
of contracts whose yields are based on changes in fair value of underlying assets, this type of investment is considered fairly valued
at contract value. The methodology for calculating the interest crediting rate is defined in the contract. Under the terms of the existing
contract, the composite crediting rate is currently reset on a quarterly basis and will never be less than the guaranteed minimum interest
rate, as defined in the contract. The Plan’s ability to receive amounts due in accordance with fully benefit-responsive investment
contracts is dependent on the third-party issuer’s ability to meet its financial obligations. The issuer’s ability to meet
its contractual obligations may be affected by future economic and regulatory developments. By definition, the Fixed Account is an investment
contract. As a result, the Plan may transact according to the terms defined in the contract at any time. Certain events might limit the
availability of the Plan to transact at contract value with the contract issuer. Examples of such events include the Plan’s failure
to qualify under Section 401(a) of the Internal Revenue Code or the failure of the trust to be tax-exempt under Section 501(a) of the
Internal Revenue Code (“IRC”); premature termination of the contract; Plan termination or merger; changes to the Plan’s
prohibition on competing investment options; or bankruptcy of the Plan sponsor or other Plan sponsor events (for example divestitures
or spinoffs of a subsidiary) that significantly affect the Plan’s normal operations. No events are probable of occurring that might
limit the ability of the Plan to transact at contract value with the participants. In addition, certain events allow the issuer to terminate
the contracts with the Plan and settle at an amount different from contract value. Examples of such events include an uncured violation
of the Plan’s investment guidelines; a breach of material obligation under the contract; a material misrepresentation; or a material
amendment to the agreements without the consent of the issuer.
The Company adopted a prototype non-standardized profit-sharing plan with
a cash or deferral arrangement, which received a favorable opinion letter from the Internal Revenue Service, stating that the prototype
is designed in accordance with applicable sections of the IRC. The Plan has not obtained or requested a determination letter. However,
the plan administrator believes that the Plan is currently designed and being operated in compliance with the applicable requirements
of the Internal Revenue Code and that the Plan was qualified and the related trust was tax exempt as of the financial statement date.
The Plan’s income tax returns for the past three years are subject to examination by tax authorities and may change upon examination.
U.S. GAAP requires Plan management to evaluate tax positions taken by the
Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained
upon examination by the Internal Revenue Service. The plan administrator has confirmed that there are no uncertain positions taken
that would require recognition of a liability (or asset) or disclosure in the financial statements.
(6) Risks and Uncertainties
The Plan invests in various investment securities. Investment securities
are exposed to various risks such as interest rate, market and credit risks. Because of the level of risk associated with certain investment
securities, it is reasonably possible that changes in the values of investment securities could occur in the near term and that such changes
could materially affect participants’ account balances and the amounts reported in the statements of net assets available for plan
benefits.
(7) Party-In-Interest Transactions
The Plan paid $45,674 and $1,365 of recordkeeping and investment fees to
Charles Schwab during the years ended December 31, 2023 and 2022, respectively. Beginning September 1, 2022, Charles Schwab is the trustee
and TPA as defined by the Plan and, therefore, these transactions qualify as party-in-interest transactions. Additional expenses paid
to parties-in-interest for investment management services aggregated to $82,040 during the year ended December 31, 2023. The Plan paid
$129,175 of recordkeeping, administrative and investment management fees to other parties-in-interest during the year ended December 31,
2022.
Lincoln Financial, the former custodian, managed Plan investments in its
sponsored funds during a portion of 2022 and, therefore, these transactions qualified as exempt party-in-interest transactions. The Plan
also invests in shares of the Company’s parent company. The Company is the Plan sponsor; therefore, these transactions qualify as
exempt party-in-interest transactions. The Company directly pays any other fees related to the Plan’s operations and provides
certain administrative services at no cost to the Plan.
SERVISFIRST BANK 401(k) PROFIT SHARING PLAN AND TRUST
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
EIN 20-2451671
Plan Number 002
December 31, 2023
| (a) |
|
(b) Identity of Issue, Borrower, Lessor or Similar Party |
|
(c) Description of Investment Including
Maturity Date, Rate of Interest,
Collateral, Par or Maturity Value |
|
(d) Cost |
|
|
(e) Current
Value |
|
| * |
|
SERVISFIRST STOCK FUND |
|
Employer Securities |
|
** |
|
$ |
5,236,135 |
|
| |
|
AMERICAN CENTURY FOCUSED INTL |
|
Registered Investment Company |
|
** |
|
|
821,110 |
|
| |
|
BLACKROCK GLOBAL ALLOCATION I |
|
Registered Investment Company |
|
** |
|
|
1,142,050 |
|
| |
|
BLACKROCK INFLT PROT BD INSTL |
|
Registered Investment Company |
|
** |
|
|
334,295 |
|
| |
|
COHEN & STEERS REALTY INST CL |
|
Registered Investment Company |
|
** |
|
|
575,286 |
|
| |
|
EV EM & FNTR CTRS EQ A |
|
Registered Investment Company |
|
** |
|
|
572,458 |
|
| |
|
iSHARES US AGGREGATE BOND IND |
|
Registered Investment Company |
|
** |
|
|
942,224 |
|
| |
|
PIMCO INCOME CL I2 |
|
Registered Investment Company |
|
** |
|
|
689,006 |
|
| |
|
VANGUARD 500 INDEX ADMIRAL |
|
Registered Investment Company |
|
** |
|
|
7,545,393 |
|
| |
|
VANGUARD DEVELOPED MKT IDX ADM |
|
Registered Investment Company |
|
** |
|
|
1,153,644 |
|
| |
|
VANGUARD GROWTH INDEX ADMIRAL |
|
Registered Investment Company |
|
** |
|
|
3,572,192 |
|
| |
|
VANGUARD MID CAP INDEX ADMIRAL |
|
Registered Investment Company |
|
** |
|
|
2,112,809 |
|
| |
|
VANGUARD SM CAP VAL INDEX ADM |
|
Registered Investment Company |
|
** |
|
|
1,079,122 |
|
| |
|
VANGUARD SMALL CAP GRTH INDEX |
|
Registered Investment Company |
|
** |
|
|
1,455,439 |
|
| |
|
VANGUARD TARGET RETIREMNT 2020 |
|
Registered Investment Company |
|
** |
|
|
910,461 |
|
| |
|
VANGUARD TARGET RETIREMNT 2025 |
|
Registered Investment Company |
|
** |
|
|
2,609,786 |
|
| |
|
VANGUARD TARGET RETIREMNT 2030 |
|
Registered Investment Company |
|
** |
|
|
6,009,485 |
|
| |
|
VANGUARD TARGET RETIREMNT 2035 |
|
Registered Investment Company |
|
** |
|
|
3,178,401 |
|
| |
|
VANGUARD TARGET RETIREMNT 2040 |
|
Registered Investment Company |
|
** |
|
|
3,228,699 |
|
| |
|
VANGUARD TARGET RETIREMNT 2045 |
|
Registered Investment Company |
|
** |
|
|
3,026,045 |
|
| |
|
VANGUARD TARGET RETIREMNT 2050 |
|
Registered Investment Company |
|
** |
|
|
1,906,778 |
|
| |
|
VANGUARD TARGET RETIREMNT 2055 |
|
Registered Investment Company |
|
** |
|
|
595,655 |
|
| |
|
VANGUARD TARGET RETIREMNT 2060 |
|
Registered Investment Company |
|
** |
|
|
817,918 |
|
| |
|
VANGUARD TARGET RETIREMNT 2065 |
|
Registered Investment Company |
|
** |
|
|
321,038 |
|
| |
|
VANGUARD TARGET RETMT INCOME |
|
Registered Investment Company |
|
** |
|
|
1,168,910 |
|
| |
|
VANGUARD ULTRA ST BD ADMIRAL |
|
Registered Investment Company |
|
** |
|
|
359,260 |
|
| |
|
VANGUARD VALUE INDEX ADM |
|
Registered Investment Company |
|
** |
|
|
4,099,561 |
|
| |
|
|
|
|
|
|
|
|
55,463,160 |
|
| |
|
|
|
|
|
|
|
|
|
|
| * |
|
Lincoln Stable Value Account |
|
Investment contract, at contract value |
|
** |
|
|
1,473,695 |
|
| |
|
|
|
|
|
|
|
$ |
56,936,855 |
|
| |
|
|
|
|
|
|
|
|
|
|
| * Parties-in-interest to the Plan. |
|
| ** Cost information omitted for participant directed investments. |
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
| | |
SERVISFIRST BANCSHARES, INC. |
| | |
|
| Date: May 31, 2024 | By |
/s/ Kirk P. Pressley |
| | |
Kirk P. Pressley |
| | |
Chief Financial Officer |
EXHIBIT INDEX
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in Registration Statements
on Forms S-8 (Nos. 333-170507, 333-196825 and 333-213869) and Form S-3 (No. 333-258665) of ServisFirst Bancshares, Inc. of our report
dated May 31, 2024, with respect to the financial statements and supplemental schedule of ServisFirst Bancshares, Inc. 401(k) Profit Sharing
Plan and Trust included in this Annual Report on Form 11-K for the year ended December 31, 2023.
/s/ FORVIS, LLP
Charlotte, North Carolina
May 31, 2024
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