Noninterest Income (Tables)

12 Months Ended

Dec. 31, 2018

Other Income and Expenses [Abstract]

A summary of noninterest income for the years ended December 31, 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Noninterest income:
Gains on investment securities, net	$	88,094	$	64,603	$	51,740
Gains on equity warrant assets, net	89,142		54,555		37,892
Foreign exchange fees	138,812		115,760		104,183
Credit card fees	94,072		76,543		68,205
Deposit service charges	76,097		58,715		52,524
Client investment fees	130,360		56,136		32,219
Lending related fees	41,949		43,265		33,395
Letters of credit and standby letters of credit fees	34,600		28,544		25,644
Other	51,858		59,110		50,750
Total noninterest income	$	744,984	$	557,231	$	456,552

Summary of Gains and Losses on Investment Securities

The following table presents the net gains and losses on non-marketable and other equity securities in 2018, 2017 and 2016 as recorded in the line item “Gains on investment securities, net," a component of noninterest income:



	Year ended December 31,
(Dollars in thousands)	2018			2017			2016
Net gains (losses) on non-marketable and other equity securities:
Non-marketable securities (fair value accounting):
Consolidated venture capital and private equity fund investments	$	20,999		$	27,186		$	5,964
Unconsolidated venture capital and private equity fund investments (1)	39,075			21,377			17,816
Other investments without a readily determinable fair value (1)	3,206			3,842			(45		)
Other equity securities in public companies (fair value accounting) (1)	(25,483		)	241			(90		)
Non-marketable securities (equity method accounting):
Venture capital and private equity fund investments	49,341			14,472			4,070
Debt funds	541			8,950			948
Other investments	1,155			(6,276		)	10,882
Total net gains on non-marketable and other equity securities	$	88,834		$	69,792		$	39,545
Less: Realized net losses on the sales and OTTI of non-marketable and other equity securities (2)	(26,097		)	(355		)	(4,524		)
Net gains on non-marketable and other equity securities still held	$	114,931		$	70,147		$	44,069


(1)	Prior period amounts are not determined in a manner consistent with the current period presentation due to the adoption of ASU 2016-01.


(2)	Realized gains and losses include sales and OTTI of non-marketable and other equity securities. Includes losses of $20.8 million in losses on sales and $5.3 million of OTTI for the period ended December 31, 2018. Includes gains of $3.8 million and $0.2 million on sales and $4.2 million and $4.7 million of OTTI for the periods ended December 31, 2017 and 2016, respectively.

A summary of gains and losses on investment securities for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018			2017			2016
Gains on non-marketable and other equity securities, net	$	88,834		$	69,792		$	39,545
(Losses) gains on sales of available-for-sale debt securities, net	(740		)	(5,189		)	12,195
Total gains on investment securities, net	$	88,094		$	64,603		$	51,740

Components of Gains on Equity Warrant Assets

A summary of net gains on equity warrant assets for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018			2017			2016
Equity warrant assets:
Gains on exercises, net	$	58,186		$	48,275		$	31,197
Terminations	(5,964		)	(4,422		)	(3,015		)
Changes in fair value, net	36,920			10,702			9,710
Total net gains on equity warrant assets	$	89,142		$	54,555		$	37,892

Components of Foreign Exchange Fees

A summary of foreign exchange fee income by instrument type for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Foreign exchange fees by instrument type:
Spot contract commissions	$	127,459	$	104,344	$	89,354
Forward contract commissions	10,940		10,934		14,004
Option premium fees	413		482		825
Total foreign exchange fees	$	138,812	$	115,760	$	104,183

Components of Credit Card Fees

A summary of credit card fees by instrument type for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Credit card fees by instrument type:
Card interchange fees, net	$	74,381	$	60,224	$	51,513
Merchant service fees	14,420		11,584		12,783
Card service fees	5,271		4,735		3,909
Total credit card fees	$	94,072	$	76,543	$	68,205

Components of Asset Management Fees

A summary of client investment fees by instrument type for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Client investment fees by type:
Sweep money market fees	$	75,654	$	28,485	$	15,147
Asset management fees (1)	23,882		16,831		15,389
Repurchase agreement fees	30,824		10,820		1,683
Total client investment fees (2)	$	130,360	$	56,136	$	32,219


(1)	Represents fees earned from investments in third-party money market mutual funds and fixed-income securities managed by SVB Asset Management.


(2)	Represents fees earned on client investment funds which are maintained at third-party financial institutions and are not recorded on our balance sheet.

Components of Lending Related Fees

A summary of lending related fees by instrument type for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Lending related fees by instrument type:
Unused commitment fees	$	32,452	$	34,110	$	25,654
Other	9,497		9,155		7,741
Total lending related fees	$	41,949	$	43,265	$	33,395

Summary of Other Noninterest Income

A summary of other noninterest income by instrument type for 2018, 2017 and 2016 is as follows:



	Year ended December 31,
(Dollars in thousands)	2018		2017		2016
Other noninterest income by instrument type:
Fund management fees	$	23,016	$	21,214	$	19,195
Net gains (losses) on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1)	666		1,788		(1,999		)
Other service revenue	28,176		36,108		33,554
Total other noninterest income	$	51,858	$	59,110	$	50,750


(1)	Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments.

Disaggregation of Revenue

The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the year ended December 31, 2018:



(Dollars in thousands)	Global Commercial Bank		SVB Private Bank			SVB Capital		Other Income		Total
Revenue from contracts with customers:
Spot contract commissions	$	126,445	$	691		$	—	$	323	$	127,459
Card interchange fees, gross	134,074		—			—		428		134,502
Merchant service fees	14,415		4			—		1		14,420
Deposit service charges	74,348		108			—		1,641		76,097
Client investment fees	53,179		1,526			—		75,655		130,360
Fund management fees	—		—			23,016		—		23,016
Correspondent bank rebates	5,802		—			—		—		5,802
Total revenue from contracts with customers	$	408,263	$	2,329		$	23,016	$	78,048	$	511,656

Revenues outside the scope of ASC 606 (1)	36,384		(48		)	78,165		118,827		233,328
Total noninterest income	$	444,647	$	2,281		$	101,181	$	196,875	$	744,984


(1)	Amounts are accounted for under separate guidance than ASC 606.