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Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting
Our segment information for the three months ended March 31, 2020 and 2019 is as follows:
(Dollars in thousands)
 
Global
Commercial
Bank (1)
 
SVB Private  
Bank
 
SVB Capital (1)  
 
SVB
Leerink (1)
 
Other Items (2)      
 
Total      
Three months ended March 31, 2020
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
463,835

 
$
15,164

 
$
21

 
$
201

 
$
44,916

 
$
524,137

(Provision for) reduction of credit losses
 
(194,411
)
 
(54,490
)
 
—

 
—

 
5,421

 
(243,480
)
Noninterest income
 
166,834

 
900

 
4,918

 
62,677

 
66,605

 
301,934

Noninterest expense (3)
 
(224,855
)
 
(10,090
)
 
(8,585
)
 
(62,037
)
 
(94,018
)
 
(399,585
)
Income (loss) before income tax expense (4)
 
$
211,403

 
$
(48,516
)
 
$
(3,646
)
 
$
841

 
$
22,924

 
$
183,006

Total average loans, amortized cost
 
$
29,137,484

 
$
3,857,478

 
$
—

 
$
—

 
$
665,766

 
$
33,660,728

Total average assets (5) (6)
 
61,813,129

 
3,892,400

 
447,201

 
483,648

 
5,770,790

 
72,407,168

Total average deposits
 
59,217,433

 
1,922,663

 
—

 
—

 
668,135

 
61,808,231

Three months ended March 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income
 
$
445,876

 
$
11,981

 
$
6

 
$
442

 
$
54,581

 
$
512,886

(Provision for) reduction of credit losses
 
(26,805
)
 
984

 
—

 
—

 
(2,730
)
 
(28,551
)
Noninterest income (7)
 
152,861

 
510

 
24,845

 
68,117

 
34,043

 
280,376

Noninterest expense (3)
 
(198,683
)
 
(7,414
)
 
(5,782
)
 
(60,540
)
 
(93,245
)
 
(365,664
)
Income (loss) before income tax expense (4)
 
$
373,249

 
$
6,061

 
$
19,069

 
$
8,019

 
$
(7,351
)
 
$
399,047

Total average loans, amortized cost
 
$
24,798,197

 
$
3,085,883

 
$
—

 
$
—

 
$
503,992

 
$
28,388,072

Total average assets (5) (6) (8)
 
50,132,098

 
3,109,275

 
378,732

 
300,332

 
3,608,000

 
57,528,437

Total average deposits
 
47,596,868

 
1,491,234

 
—

 
—

 
626,107

 
49,714,209

 
 
(1)
Global Commercial Bank’s, SVB Capital’s and SVB Leerink'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."
(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. Net interest income consists primarily of interest earned from our fixed income investment portfolio, net of FTP. Noninterest income consists primarily of gains or losses on equity warrant assets, gains or losses on the sale of AFS securities and gains or losses on equity securities from exercised warrant assets. Noninterest expense consists primarily of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses.
(3)
The Global Commercial Bank segment includes direct depreciation and amortization of $5.5 million and $4.9 million for the three months ended March 31, 2020 and 2019, 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 average liabilities and total average stockholders’ equity for each segment to reconcile the results to the consolidated financial statements prepared in conformity with GAAP.
(6)
Included in the total average assets for SVB Leerink is goodwill of $137.8 million for both the three months ended March 31, 2020 and 2019.
(7)
For the three months ended March 31, 2019, amounts of client investment fees included in the line item "Noninterest Income" previously reported as "Other Items" have been correctly allocated to our reportable segment "Global Commercial Bank" to properly reflect the source of such revenue. The correction of this immaterial error had no impact on the "Total" amount of noninterest income.
(8)
For the three months ended March 31, 2019, amounts for average assets previously reported as "Other Items" have been correctly allocated to the reportable segments "Global Commercial Bank" and “Private Bank” to properly reflect the greater of total average assets or the sum of total average liabilities and total average stockholders’ equity for “Global Commercial Bank” and “Private Bank.” The correction of this immaterial error had no impact on the "Total" amount of average assets.