ServisFirst Bancshares, Inc. Leases Disclosure
NOTE 6. LEASES
The Company leases space under non-cancelable operating leases for several of its banking offices and certain office equipment. The Company reports its right-of-use asset in other assets and its lease liabilities in other liabilities in its Consolidated Balance Sheets.
Supplemental balance sheet information related to operating leases is as follows:
|
December 31, 2025 |
December 31, 2024 |
|||||||
|
|
$ | 22,018 | $ | 26,059 | ||||
|
|
$ | 23,060 | $ | 27,053 | ||||
|
Weighted average remaining lease term |
7.3 | 7.8 | ||||||
|
Weighted average discount rate |
3.9 |
% |
3.8 |
% |
||||
Lease costs during the years ended December 31, 2025 and 2024 were as follows (in thousands):
|
2025 |
2024 |
|||||||
|
Operating lease cost |
$ | 5,998 | $ | 5,706 | ||||
|
Short-term lease cost |
35 | 75 | ||||||
|
Variable lease cost |
895 | 852 | ||||||
|
Sublease income |
(20 | ) | (19 | ) | ||||
|
Net lease cost |
$ | 6,908 | $ | 6,614 | ||||
The following table reconciles future undiscounted lease payments due under non-cancelable leases to the aggregate lease liability as of December 31, 2025:
|
(In Thousands) |
||||
|
2025 |
$ | 5,376 | ||
|
2026 |
4,308 | |||
|
2027 |
3,357 | |||
|
2028 |
2,776 | |||
|
2029 |
2,313 | |||
|
Thereafter |
8,789 | |||
|
Total lease payments |
$ | 26,919 | ||
|
Less: imputed interest |
(3,859 | ) | ||
|
Present value of operating lease liabilities |
$ | 23,060 | ||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Mar 1, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 25, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.