SVB Financial Group (SIVBQ)

[56Chevy]

SVB Financial Group Announces Availability Of Quarterly Financial Results

Date : 04/26/2018 @ 4:30PM
Source : PR Newswire (US)
Stock : Svb Financial Grp. (SIVB)
Quote : $304.1966 up 46.8266 (18.19%) @ 10:35AM

SANTA CLARA, Calif. — April 26, 2018 — SVB Financial Group (NASDAQ: SIVB) today announced financial results
for the first quarter ended March 31, 2018.

Consolidated net income available to common stockholders for the first quarter of 2018 was $195.0 million, or $3.63
per diluted common share, compared to $117.2 million, or $2.19 per diluted common share, for the fourth quarter of
2017 and $101.5 million, or $1.91 per diluted common share, for the first quarter of 2017. The first quarter of 2018
results included net losses of $22.2 million, on a pre-tax basis, from the sales of shares from our exercised Roku, Inc.
("Roku") equity warrants.

"The first quarter marked a tremendous start to the year, with better-than-expected performance in nearly every part
of the business and a significantly improved outlook for 2018," said Greg Becker, President and CEO of SVB Financial Group. "Our effective execution across all of our initiatives, together with the exceptional liquidity being deployed in
the innovation ecosystem, drove outstanding growth on and off the balance sheet; and we saw significant additional
benefits from higher interest rates and lower taxes, as well as continued solid credit performance."

Highlights of our first quarter 2018 results (compared to fourth quarter 2017, unless otherwise noted) included:

• Average loan balances of $23.8 billion, an increase of $1.4 billion (or 6.1 percent).

• Period-end loan balances of $24.6 billion, an increase of $1.5 billion (or 6.4 percent).

• Average fixed income investment securities of $24.0 billion, an increase of $0.2 billion (or 0.8 percent).

• Period-end fixed income investment securities of $24.6 billion, an increase of $0.8 billion (or 3.6 percent).

• Average total client funds (on-balance sheet deposits and off-balance sheet client investment funds) increased
$8.1 billion (or 7.9 percent) to $110.5 billion.

• Period-end total client funds increased $9.1 billion (or 8.7 percent) to $113.7 billion.

• Net interest income (fully taxable equivalent basis) of $421.2 million, an increase of $25.9 million (or 6.5 percent).

• Provision for credit losses of $28.0 million, compared to $22.2 million.

• Net loan charge-offs of $8.8 million, or 15 basis points of average total gross loans (annualized), compared to
$12.9 million, or 23 basis points.

• Gains on investment securities of $9.1 million, compared to $15.8 million. Non-GAAP losses on investment
securities, net of noncontrolling interests, were $3.8 million, compared to non-GAAPgains on investment securities,
net of noncontrolling interests, of $8.0 million. (See non-GAAP reconciliation under the section “Use of Non-GAAP
Financial Measures.”)

• Gains on equity warrant assets of $19.2 million, compared to $12.1 million.

• Noninterest income of $155.5 million, an increase of $3.3 million (or 2.1 percent). Non-GAAP core fee income
increased $8.6 million (or 8.1 percent) to $115.0 million. (See non-GAAP reconciliation under the section “Use of
Non-GAAP Financial Measures.”)

• Noninterest expense of $265.4 million, an increase of $1.4 million (or 0.5 percent).

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Link to IR website for the complete report:

http://ir.svb.com/results.cfm

Wow!....