XML 20 R33.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Segment Reporting
Our segment information for the three and six months ended June 30, 2014 and 2013 is as follows:
(Dollars in thousands)
 
Global
Commercial
Bank (1)
 
SVB Private  
Bank
 
SVB Capital (1)  
 
Other Items (2)      
 
Total      
Three months ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
178,488

 
$
9,293

 
$
29

 
$
17,155

 
$
204,965

(Provision for) loan losses
 
(1,841
)
 
(106
)
 
—

 
—

 
(1,947
)
Noninterest income
 
53,021

 
356

 
(3,119
)
 
(36,048
)
 
14,210

Noninterest expense (3)
 
(123,679
)
 
(2,640
)
 
(3,144
)
 
(43,983
)
 
(173,446
)
Income (loss) before income tax expense (4)
 
$
105,989

 
$
6,903

 
$
(6,234
)
 
$
(62,876
)
 
$
43,782

Total average loans, net of unearned income
 
$
9,971,725

 
$
1,119,503

 
$
—

 
$
(10,626
)
 
$
11,080,602

Total average assets (5)
 
29,218,349

 
985,225

 
342,924

 
1,199,132

 
31,745,630

Total average deposits
 
26,324,070

 
791,261

 
—

 
61,794

 
27,177,125

Three months ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
154,586

 
$
5,927

 
$
3

 
$
9,565

 
$
170,081

(Provision for) loan losses
 
(18,190
)
 
(382
)
 
—

 
—

 
(18,572
)
Noninterest income
 
48,361

 
253

 
7,281

 
42,344

 
98,239

Noninterest expense (3)
 
(101,246
)
 
(1,848
)
 
(2,757
)
 
(37,441
)
 
(143,292
)
Income before income tax expense (4)
 
$
83,511

 
$
3,950

 
$
4,527

 
$
14,468

 
$
106,456

Total average loans, net of unearned income
 
$
8,203,231

 
$
871,746

 
$
—

 
$
(52,804
)
 
$
9,022,173

Total average assets (5)
 
20,442,613

 
881,298

 
269,771

 
499,616

 
22,093,298

Total average deposits
 
18,137,218

 
472,613

 
—

 
4,339

 
18,614,170

Six months ended June 30, 2014
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
354,191

 
$
16,185

 
$
43

 
$
30,874

 
$
401,293

(Provision for) reduction of loan losses
 
(2,648
)
 
207

 
—

 
—

 
(2,441
)
Noninterest income
 
111,658

 
630

 
34,553

 
177,594

 
324,435

Noninterest expense (2)
 
(245,604
)
 
(5,135
)
 
(5,779
)
 
(89,364
)
 
(345,882
)
Income before income tax expense (3)
 
$
217,597

 
$
11,887

 
$
28,817

 
$
119,104

 
$
377,405

Total average loans, net of unearned income
 
$
9,867,841

 
$
1,084,894

 
$
—

 
$
(27,728
)
 
$
10,925,007

Total average assets (4)
 
27,405,141

 
974,853

 
342,451

 
1,045,176

 
29,767,621

Total average deposits
 
24,610,629

 
768,300

 
—

 
57,528

 
25,436,457

Six months ended June 30, 2013
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
303,522

 
$
12,031

 
$
4

 
$
17,693

 
$
333,250

(Provision for) reduction of loan losses
 
(24,397
)
 
12

 
—

 
—

 
(24,385
)
Noninterest income
 
94,902

 
487

 
12,722

 
68,732

 
176,843

Noninterest expense (2)
 
(205,585
)
 
(3,779
)
 
(5,143
)
 
(77,799
)
 
(292,306
)
Income before income tax expense (3)
 
$
168,442

 
$
8,751

 
$
7,583

 
$
8,626

 
$
193,402

Total average loans, net of unearned income
 
$
8,036,833

 
$
858,351

 
$
—

 
$
(42,696
)
 
$
8,852,488

Total average assets (4)
 
20,491,451

 
865,777

 
254,343

 
591,746

 
22,203,317

Total average deposits
 
18,219,590

 
471,648

 
—

 
8,130

 
18,699,368

 
 
(1)
Global Commercial Bank’s and SVB Capital’s components of net interest income, noninterest income, noninterest expense and total average assets are shown net of noncontrolling interests for all periods presented. Noncontrolling interest is included within "Other Items" as discussed below.
(2)
The "Other Items" column reflects the adjustments necessary to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP. Noninterest income is primarily attributable to noncontrolling interests and gains on equity warrant assets. Noninterest expense primarily consists of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. Additionally, average assets primarily consist of cash and cash equivalents.
(3)
The Global Commercial Bank segment includes direct depreciation and amortization of $5.1 million and $4.6 million for the three months ended June 30, 2014 and 2013, respectively and $10.0 million and $9.1 million for the six months ended June 30, 2014 and 2013, respectively.
(4)
The internal reporting model used by management to assess segment performance does not calculate income tax expense by segment. Our effective tax rate is a reasonable approximation of the segment rates.
(5)
Total average assets equal the greater of total average assets or the sum of total liabilities and total stockholders’ equity for each segment.