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Noninterest Income (Tables)
 6 Months Ended
Jun. 30, 2019
Other Income and Expenses [Abstract]  
Summary of Noninterest Income Included below is a summary of noninterest income, as well as the impact of such adoption, for the three and six months ended June 30, 2019 and 2018:
 
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Noninterest income:
 
 
 
 
 
 
 
 
Gains on investment securities, net
 
$
47,698

 
$
36,114

 
$
76,726

 
$
45,172

Gains on equity warrant assets, net
 
48,347

 
19,061

 
69,652

 
38,252

Client investment fees
 
45,744

 
29,452

 
90,226

 
52,327

Foreign exchange fees
 
38,506

 
34,077

 
76,554

 
67,904

Credit card fees
 
28,790

 
22,926

 
56,273

 
44,618

Deposit service charges
 
22,075

 
18,794

 
43,014

 
36,493

Lending related fees
 
11,213

 
9,528

 
25,150

 
20,263

Letters of credit and standby letters of credit fees
 
11,009

 
8,347

 
20,363

 
16,529

Investment banking revenue
 
48,694

 
—

 
98,489

 
—

Commissions
 
14,429

 
—

 
28,537

 
—

Other
 
17,245

 
14,390

 
29,142

 
26,649

Total noninterest income
 
$
333,750

 
$
192,689

 
$
614,126

 
$
348,207
Components of Gains and Losses (Realized and Unrealized) on Investment Securities A summary of gains and losses on investment securities for the three and six months ended June 30, 2019 and 2018 is as follows:
  
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Gains on non-marketable and other equity securities, net
 
$
47,973

 
$
36,114

 
$
80,631

 
$
45,172

Losses on sales of available-for-sale securities, net
 
(275
)
 
—

 
(3,905
)
 
—

Total gains on investment securities, net
 
$
47,698

 
$
36,114

 
$
76,726

 
$
45,172
Components of Gains on Equity Warrant Assets A summary of net gains on equity warrant assets for the three and six months ended June 30, 2019 and 2018 is as follows:
  
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Equity warrant assets:
 
 
 
 
 
 
 
 
Gains on exercises, net
 
$
40,226

 
$
8,875

 
$
49,180

 
$
20,509

Terminations
 
(1,045
)
 
(826
)
 
(1,884
)
 
(1,726
)
Changes in fair value, net
 
9,166

 
11,012

 
22,356

 
19,469

Total net gains on equity warrant assets
 
$
48,347

 
$
19,061

 
$
69,652

 
$
38,252
Components of Asset Management Fees A summary of client investment fees by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2019
 
2018
 
2019
 
2018
Client investment fees by type:
 
 
 
 
 
 
 
 
Sweep money market fees
 
$
26,952

 
$
17,178

 
$
53,496

 
$
29,500

Asset management fees (1)
 
6,956

 
5,730

 
13,628

 
11,088

Repurchase agreement fees
 
11,836

 
6,544

 
23,102

 
11,739

Total client investment fees (2)
 
$
45,744

 
$
29,452

 
$
90,226

 
$
52,327

 
 
(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 Foreign Exchange Fees A summary of foreign exchange fee income by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Foreign exchange fees by instrument type:
 
 
 
 
 
 
 
 
Spot contract commissions
 
$
34,696

 
$
31,548

 
$
69,725

 
$
62,750

Forward contract commissions
 
3,778

 
2,455

 
6,773

 
4,940

Option premium fees
 
32

 
74

 
56

 
214

Total foreign exchange fees
 
$
38,506

 
$
34,077

 
$
76,554

 
$
67,904
Components of Credit Card Fees
A summary of credit card fees by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Credit card fees by instrument type:
 
 
 
 
 
 
 
 
Card interchange fees, net
 
$
22,855

 
$
18,137

 
$
44,248

 
$
35,697

Merchant service fees
 
4,286

 
3,425

 
8,821

 
6,331

Card service fees
 
1,649

 
1,364

 
3,204

 
2,590

Total credit card fees
 
$
28,790

 
$
22,926

 
$
56,273

 
$
44,618
Components of Lending Related Fees A summary of lending related fees by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Three months ended June 30,

Six months ended June 30,
(Dollars in thousands)
 
2019

2018

2019

2018
Lending related fees by instrument type:
 
 
 
 
 
 
 
 
Unused commitment fees
 
$
7,051

 
$
7,827

 
$
16,721

 
$
16,584

Other
 
4,162

 
1,701

 
8,429

 
3,679

Total lending related fees
 
$
11,213

 
$
9,528

 
$
25,150

 
$
20,263
Schedule of Investment Banking Revenue
A summary of investment banking revenue by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
  
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2019
 
2018
 
2019
 
2018
Investment banking revenue:
 
 
 
 
 
 
 
 
Underwriting fees
 
$
42,584

 
$
—

 
$
78,356

 
$
—

Advisory fees
 
5,315

 
—

 
17,588

 
—

Private placements and other
 
795

 
—

 
2,545

 
—

Total investment banking revenue
 
$
48,694

 
$
—

 
$
98,489

 
$
—
Summary of Other Noninterest Income
A summary of other noninterest income by instrument type for the three and six months ended June 30, 2019 and 2018 is as follows:
 
 
Three months ended June 30,
 
Six months ended June 30,
(Dollars in thousands)
 
2019
 
2018
 
2019
 
2018
Other noninterest income by instrument type:
 
 
 
 
 
 
 
 
Fund management fees
 
$
7,758

 
$
5,929

 
$
15,799

 
$
11,665

Net gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1)
 
587

 
236

 
251

 
189

Other service revenue
 
8,900

 
8,225

 
13,092

 
14,795

Total other noninterest income
 
$
17,245

 
$
14,390

 
$
29,142

 
$
26,649

 
(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 tables present our revenues from contracts with customers disaggregated by revenue source and segment for the three and six months ended June 30, 2019 and 2018:
Three months ended June 30, 2019
(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)  
 
SVB
Leerink (2)
 
Other Items
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
 
 
Client investment fees
 
$
18,325

 
$
466

 
$
—

 
$
—

 
$
26,953

 
$
45,744

Spot contract commissions
 
34,428

 
165

 
—

 
—

 
103

 
34,696

Card interchange fees, gross
 
41,887

 
—

 
—

 
—

 
190

 
42,077

Merchant service fees
 
4,286

 
—

 
—

 
—

 
—

 
4,286

Deposit service charges
 
21,750

 
33

 
—

 
—

 
292

 
22,075

Investment banking revenue
 
—

 
—

 
—

 
48,694

 
—

 
48,694

Commissions
 
—

 
—

 
—

 
14,429

 
—

 
14,429

Fund management fees
 
—

 
—

 
6,328

 
1,430

 
—

 
7,758

Correspondent bank rebates
 
1,612

 
—

 
—

 
—

 
—

 
1,612

Total revenue from contracts with customers
 
$
122,288

 
$
664

 
$
6,328

 
$
64,553

 
$
27,538

 
$
221,371

Revenues outside the scope of ASC 606 (1)
 
8,364

 
22

 
33,731

 
2,447

 
67,815

 
112,379

Total noninterest income
 
$
130,652

 
$
686

 
$
40,059

 
$
67,000

 
$
95,353

 
$
333,750

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."
Three months ended June 30,2018
(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)  
 
Other Items
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
Client investment fees
 
$
11,895

 
$
379

 
$
—

 
$
17,178

 
$
29,452

Spot contract commissions
 
31,350

 
144

 
—

 
54

 
31,548

Card interchange fees, gross
 
31,734

 
—

 
—

 
104

 
31,838

Merchant service fees
 
3,425

 
—

 
—

 
—

 
3,425

Deposit service charges
 
18,386

 
31

 
—

 
377

 
18,794

Fund management fees
 
—

 
—

 
5,929

 
—

 
5,929

Correspondent bank rebates
 
1,473

 
—

 
—

 
—

 
1,473

Total revenue from contracts with customers
 
$
98,263

 
$
554

 
$
5,929

 
$
17,713

 
$
122,459

Revenues outside the scope of ASC 606 (1)
 
13,411

 
11

 
23,460

 
33,348

 
70,230

Total noninterest income
 
$
111,674

 
$
565

 
$
29,389

 
$
51,061

 
$
192,689

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s and SVB Capital’s components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."
Six months ended June 30, 2019
(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)  
 
SVB
Leerink (2)
 
Other Items
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
 
 
Client investment fees
 
$
35,884

 
$
846

 
$
—

 
$
—

 
$
53,496

 
$
90,226

Spot contract commissions
 
69,233

 
288

 
—

 
—

 
204

 
69,725

Card interchange fees, gross
 
80,601

 
—

 
—

 
—

 
337

 
80,938

Merchant service fees
 
8,821

 
—

 
—

 
—

 
—

 
8,821

Deposit service charges
 
42,543

 
68

 
—

 
—

 
403

 
43,014

Investment banking revenue
 
—

 
—

 
—

 
98,489

 
—

 
98,489

Commissions
 
—

 
—

 
—

 
28,537

 
—

 
28,537

Fund management fees
 
—

 
—

 
12,987

 
2,812

 
—

 
15,799

Correspondent bank rebates
 
3,079

 
—

 
—

 
—

 
—

 
3,079

Total revenue from contracts with customers
 
$
240,161

 
$
1,202

 
$
12,987

 
$
129,838

 
$
54,440

 
$
438,628

Revenues outside the scope of ASC 606 (1)
 
16,808

 
(6
)
 
51,917

 
5,279

 
101,500

 
175,498

Total noninterest income
 
$
256,969

 
$
1,196

 
$
64,904

 
$
135,117

 
$
155,940

 
$
614,126

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."
Six months ended June 30,2018
(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)  
 
Other Items
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
Client investment fees
 
$
22,145

 
$
681

 
$
—

 
$
29,501

 
$
52,327

Spot contract commissions
 
62,322

 
323

 
—

 
105

 
62,750

Card interchange fees, gross
 
61,183

 
—

 
—

 
203

 
61,386

Merchant service fees
 
6,331

 
—

 
—

 
—

 
6,331

Deposit service charges
 
35,426

 
59

 
—

 
1,008

 
36,493

Fund management fees
 
—

 
—

 
11,665

 
—

 
11,665

Correspondent bank rebates
 
2,869

 
—

 
—

 
—

 
2,869

Total revenue from contracts with customers
 
$
190,276

 
$
1,063

 
$
11,665

 
$
30,817

 
$
233,821

Revenues outside the scope of ASC 606 (1)
 
19,284

 
9

 
47,698

 
47,395

 
114,386

Total noninterest income
 
$
209,560

 
$
1,072

 
$
59,363

 
$
78,212

 
$
348,207

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s and SVB Capital’s components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."