Exhibit 12.1

SVB Financial Group

Ratio of Earnings to Fixed Charges

(Dollar in Thousands)

	Nine Months Ended September 30,			Year Ended December 31,
	2014			2013			2012			2011			2010			2009
Excluding Interest on Deposits
Income before income tax expense	$	479,538		$	685,177		$	363,082		$	401,880		$	198,219		$	45,847
Net (income) loss attributable to noncontrolling interest		(131,460	)		(330,266	)		(74,710	)		(110,891	)		(41,866	)		37,370
Income from equity investees		(7,548	)		(15,124	)		(14,936	)		(10,204	)		(7,935	)		(3,191	)
Fixed charges		22,158			28,375			28,817			34,034			32,443			31,084
Total earnings	$	362,688		$	368,162		$	302,253		$	314,819		$	180,861		$	111,110
Fixed charges:
Interest expense	$	17,400		$	23,149		$	24,194		$	30,249		$	28,818		$	27,730
Estimated interest component of rental expense*		4,758			5,226			4,623			3,785			3,625			3,354
Total fixed charges	$	22,158		$	28,375		$	28,817		$	34,034		$	32,443		$	31,084
Ratio of earnings to fixed charges		16.37			12.97			10.49			9.25			5.57			3.57
Including Interest on Deposits
Income before income tax expense	$	479,538		$	685,177		$	363,082		$	401,880		$	198,219		$	45,847
Net (income) attributable to noncontrolling interests		(131,460	)		(330,266	)		(74,710	)		(110,891	)		(41,866	)		37,370
Income from equity investees		(7,548	)		(15,124	)		(14,936	)		(10,204	)		(7,935	)		(3,191	)
Fixed charges		31,091			37,503			35,477			42,896			47,221			52,430
Total earnings	$	371,621		$	377,290		$	308,913		$	323,681		$	195,639		$	132,456
Fixed charges:
Interest expense	$	26,333		$	32,277		$	30,854		$	39,111		$	43,596		$	49,076
Estimated interest component of rental expense*		4,758			5,226			4,623			3,785			3,625			3,354
Total fixed charges	$	31,091		$	37,503		$	35,477		$	42,896		$	47,221		$	52,430
Ratio of earnings to fixed charges		11.95			10.06			8.71			7.55			4.14			2.53

* Interest component of rental expense is estimated to equal 1/3 of such expense, which is considered a reasonable approximation of the interest factor.