Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'SIVB | ' |
Entity Registrant Name | 'SVB FINANCIAL GROUP | ' |
Entity Central Index Key | '0000719739 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 45,666,482 |
Interim_Consolidated_Balance_S
Interim Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and cash equivalents | $1,942,744 | $1,008,983 | ||
Available-for-sale securities | 10,209,917 | 11,343,177 | ||
Non-marketable and other securities | 1,425,138 | 1,184,265 | ||
Investment securities | 11,635,055 | 12,527,442 | ||
Loans, net of unearned income | 9,824,982 | [1] | 8,946,933 | [1] |
Allowance for loan losses | -124,734 | -110,651 | ||
Net loans | 9,700,248 | 8,836,282 | ||
Premises and equipment, net of accumulated depreciation and amortization | 65,385 | 66,545 | ||
Accrued interest receivable and other assets | 397,432 | 326,871 | ||
Total assets | 23,740,864 | 22,766,123 | ||
Liabilities: | ' | ' | ||
Noninterest-bearing demand deposits | 14,105,728 | 13,875,275 | ||
Interest-bearing deposits | 5,891,263 | 5,301,177 | ||
Total deposits | 19,996,991 | 19,176,452 | ||
Short-term borrowings | 5,580 | 166,110 | ||
Other liabilities | 358,905 | 360,566 | ||
Long-term debt | 455,744 | 457,762 | ||
Total liabilities | 20,817,220 | 20,160,890 | ||
Commitments and contingencies (Note 11 and Note 14) | ' | ' | ||
SVBFG stockholders’ equity: | ' | ' | ||
Preferred stock, $0.001 par value, 20,000,000 shares authorized; no shares issued and outstanding | 0 | 0 | ||
Common stock, $0.001 par value, 150,000,000 shares authorized; 45,608,370 shares and 44,627,182 shares outstanding, respectively | 46 | 45 | ||
Additional paid-in capital | 607,463 | 547,079 | ||
Retained earnings | 1,331,975 | 1,174,878 | ||
Accumulated other comprehensive income | 5,443 | 108,553 | ||
Total SVBFG stockholders’ equity | 1,944,927 | 1,830,555 | ||
Noncontrolling interests | 978,717 | 774,678 | ||
Total equity | 2,923,644 | 2,605,233 | ||
Total liabilities and total equity | $23,740,864 | $22,766,123 | ||
[1] | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. |
Interim_Consolidated_Balance_S1
Interim Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares outstanding | 45,608,370 | 44,627,182 |
Interim_Consolidated_Statement
Interim Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Interest income: | ' | ' | ' | ' | ||||
Loans | $139,687 | $121,446 | $395,216 | $344,842 | ||||
Available-for-sale securities: | ' | ' | ' | ' | ||||
Taxable | 43,604 | 38,493 | 134,013 | 129,940 | ||||
Non-taxable | 797 | 894 | 2,403 | 2,693 | ||||
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities | 1,152 | 1,125 | 2,605 | 3,075 | ||||
Total interest income | 185,240 | 161,958 | 534,237 | 480,550 | ||||
Interest expense: | ' | ' | ' | ' | ||||
Deposits | 2,397 | 1,740 | 6,533 | 4,835 | ||||
Borrowings | 5,747 | 5,788 | 17,358 | 18,414 | ||||
Total interest expense | 8,144 | 7,528 | 23,891 | 23,249 | ||||
Net interest income | 177,096 | 154,430 | 510,346 | 457,301 | ||||
Provision for loan losses | 10,638 | 6,788 | 35,023 | 29,316 | ||||
Net interest income after provision for loan losses | 166,458 | 147,642 | 475,323 | 427,985 | ||||
Noninterest income: | ' | ' | ' | ' | ||||
Gains on investment securities, net | 187,862 | 20,228 | 255,861 | 53,876 | ||||
Foreign exchange fees | 12,887 | 12,211 | 39,113 | 36,345 | ||||
Gains on derivative instruments, net | 10,202 | 1,111 | 30,218 | 15,800 | ||||
Deposit service charges | 8,902 | 8,369 | 26,602 | 24,834 | ||||
Credit card fees | 8,188 | 6,348 | 23,245 | 18,185 | ||||
Letters of credit and standby letters of credit income | 3,790 | 3,495 | 10,879 | 10,427 | ||||
Client investment fees | 3,393 | 3,954 | 10,392 | 10,226 | ||||
Other | 22,426 | 13,423 | 38,183 | 39,165 | ||||
Total noninterest income | 257,650 | 69,139 | 434,493 | 208,858 | ||||
Noninterest expense: | ' | ' | ' | ' | ||||
Compensation and benefits | 96,869 | 79,262 | 270,315 | 243,384 | ||||
Professional services | 18,966 | 17,759 | 52,759 | 48,880 | ||||
Premises and equipment | 12,171 | 11,247 | 34,298 | 28,230 | ||||
Business development and travel | 7,378 | 6,838 | 23,433 | 21,743 | ||||
Net occupancy | 5,898 | 5,666 | 17,460 | 16,667 | ||||
FDIC assessments | 2,913 | 2,836 | 9,148 | 8,065 | ||||
Correspondent bank fees | 2,906 | 3,000 | 9,009 | 8,528 | ||||
Provision for (reduction of) unfunded credit commitments | 2,774 | -400 | 6,135 | 1,264 | ||||
Other | 10,649 | 8,963 | 30,273 | 26,188 | ||||
Total noninterest expense | 160,524 | [1] | 135,171 | [1] | 452,830 | 402,949 | ||
Income before income tax expense | 263,584 | [2] | 81,610 | [2] | 456,986 | [2] | 233,894 | [2] |
Income tax expense | 47,404 | 28,470 | 103,773 | 83,743 | ||||
Net income before noncontrolling interests | 216,180 | 53,140 | 353,213 | 150,151 | ||||
Net income attributable to noncontrolling interests | -148,559 | -10,851 | -196,117 | -25,469 | ||||
Net income available to common stockholders | $67,621 | $42,289 | $157,096 | $124,682 | ||||
Earnings per common share—basic (dollars per share) | $1.48 | $0.95 | $3.48 | $2.82 | ||||
Earnings per common share—diluted (dollars per share) | $1.46 | $0.94 | $3.43 | $2.79 | ||||
[1] | The Global Commercial Bank segment includes direct depreciation and amortization of $5.6 million and $4.5 million for the three months ended September 30, 2013 and 2012, respectively, and $16.0 million and $11.6 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||
[2] | 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. |
Interim_Consolidated_Statement1
Interim Consolidated Statements of Comprehensive (Loss) Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income before noncontrolling interests | $216,180 | $53,140 | $353,213 | $150,151 |
Change in cumulative translation (loss) income: | ' | ' | ' | ' |
Foreign currency translation (loss) income | -1,540 | 2,940 | -6,341 | 755 |
Related tax benefit (expense) | 631 | -1,190 | 2,539 | -314 |
Change in unrealized gains (losses) on available-for-sale securities: | ' | ' | ' | ' |
Unrealized holding gains (losses) | 27,289 | 27,596 | -167,021 | 64,631 |
Related tax (expense) benefit | -11,032 | -11,473 | 68,299 | -26,290 |
Reclassification adjustment for (gains) losses included in net income | -219 | 101 | -949 | -3,592 |
Related tax benefit (expense) | 85 | -41 | 363 | 1,421 |
Other comprehensive income (loss), net of tax | 15,214 | 17,933 | -103,110 | 36,611 |
Comprehensive income | 231,394 | 71,073 | 250,103 | 186,762 |
Comprehensive income attributable to noncontrolling interests | -148,559 | -10,851 | -196,117 | -25,469 |
Comprehensive income attributable to SVBFG | $82,835 | $60,222 | $53,986 | $161,293 |
Interim_Consolidated_Statement2
Interim Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Total SVBFG Stockholders’ Equity | Noncontrolling Interests |
In Thousands, except Share data, unless otherwise specified | |||||||
Balance at Dec. 31, 2011 | $2,250,389 | $44 | $484,216 | $999,733 | $85,399 | $1,569,392 | $680,997 |
Balance (in shares) at Dec. 31, 2011 | ' | 43,507,932 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | ' | 929,032 | ' | ' | ' | ' | ' |
Common stock issued under employee benefit plans, net of restricted stock cancellations | 27,351 | 1 | 27,350 | ' | ' | 27,351 | ' |
Common stock issued under ESOP (in shares) | ' | 73,560 | ' | ' | ' | ' | ' |
Common stock issued under ESOP | 4,345 | 0 | 4,345 | ' | ' | 4,345 | ' |
Income tax benefit from stock options exercised, vesting of restricted stock and other | 6,312 | ' | 6,312 | ' | ' | 6,312 | ' |
Net income | 150,151 | ' | ' | 124,682 | ' | 124,682 | 25,469 |
Capital calls and distributions, net | 63,956 | ' | ' | ' | ' | ' | 63,956 |
Net change in unrealized losses on available-for-sale securities, net of tax | 36,170 | ' | ' | ' | 36,170 | 36,170 | ' |
Foreign currency translation adjustments, net of tax | 441 | ' | ' | ' | 441 | 441 | ' |
Share-based compensation expense | 16,231 | ' | 16,231 | ' | ' | 16,231 | ' |
Balance at Sep. 30, 2012 | 2,555,346 | 45 | 538,454 | 1,124,415 | 122,010 | 1,784,924 | 770,422 |
Balance (in shares) at Sep. 30, 2012 | ' | 44,510,524 | ' | ' | ' | ' | ' |
Balance at Dec. 31, 2012 | 2,605,233 | 45 | 547,079 | 1,174,878 | 108,553 | 1,830,555 | 774,678 |
Balance (in shares) at Dec. 31, 2012 | ' | 44,627,182 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | ' | 906,242 | ' | ' | ' | ' | ' |
Common stock issued under employee benefit plans, net of restricted stock cancellations | 33,242 | 1 | 33,241 | ' | ' | 33,242 | ' |
Common stock issued under ESOP (in shares) | ' | 74,946 | ' | ' | ' | ' | ' |
Common stock issued under ESOP | 5,166 | 0 | 5,166 | ' | ' | 5,166 | ' |
Income tax benefit from stock options exercised, vesting of restricted stock and other | 3,148 | ' | 3,148 | ' | ' | 3,148 | ' |
Net income | 353,213 | ' | ' | 157,096 | ' | 157,096 | 196,117 |
Capital calls and distributions, net | 7,922 | ' | ' | ' | ' | ' | 7,922 |
Net change in unrealized losses on available-for-sale securities, net of tax | -99,308 | ' | ' | ' | -99,308 | -99,308 | ' |
Foreign currency translation adjustments, net of tax | -3,802 | ' | ' | ' | -3,802 | -3,802 | ' |
Share-based compensation expense | 18,826 | ' | 18,826 | ' | ' | 18,826 | ' |
Other, net | 4 | ' | 3 | 1 | ' | 4 | ' |
Balance at Sep. 30, 2013 | $2,923,644 | $46 | $607,463 | $1,331,975 | $5,443 | $1,944,927 | $978,717 |
Balance (in shares) at Sep. 30, 2013 | ' | 45,608,370 | ' | ' | ' | ' | ' |
Interim_Consolidated_Statement3
Interim Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income before noncontrolling interests | $353,213 | $150,151 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 35,023 | 29,316 |
Provision for (reduction of) unfunded credit commitments | 6,135 | 1,264 |
Changes in fair values of derivatives, net | -16,594 | -4,411 |
Gains on investment securities, net | -255,861 | -53,876 |
Depreciation and amortization | 26,474 | 22,651 |
Amortization of premiums and discounts on available-for-sale securities, net | 21,040 | 42,511 |
Tax (expense) benefit from stock exercises | -1,353 | 1,245 |
Amortization of share-based compensation | 18,945 | 16,594 |
Amortization of deferred loan fees | -51,941 | -42,308 |
Deferred income tax expense | -3,488 | -997 |
Gain on the sale of certain assets related to our equity services management business | 0 | -4,243 |
Losses from the write-off of premises and equipment | 1,273 | 1,941 |
Changes in other assets and liabilities: | ' | ' |
Accrued interest receivable and payable, net | -5,183 | -9,084 |
Accounts receivable and payable, net | 1,463 | 33,277 |
Income tax payable and receivable, net | -7,787 | 6,223 |
Accrued compensation | -7,481 | -40,600 |
Foreign exchange spot contracts, net | 12,442 | -41,188 |
Other, net | -27,005 | 19,140 |
Net cash provided by operating activities | 99,315 | 127,606 |
Cash flows from investing activities: | ' | ' |
Purchases of available-for-sale securities | -906,495 | -2,859,155 |
Proceeds from sales of available-for-sale securities | 10,207 | 326,178 |
Proceeds from maturities and pay downs of available-for-sale securities | 1,879,424 | 2,047,753 |
Purchases of non-marketable and other securities (cost and equity method accounting) | -20,019 | -114,134 |
Proceeds from sales of non-marketable and other securities (cost and equity method accounting) | 47,069 | 31,903 |
Purchases of non-marketable and other securities (fair value accounting) | -108,663 | -99,062 |
Proceeds from sales and distributions of non-marketable and other securities (fair value accounting) | 103,105 | 94,188 |
Net increase in loans | -867,075 | -1,218,366 |
Proceeds from recoveries of charged-off loans | 8,163 | 8,018 |
Purchases of premises and equipment | -22,110 | -33,489 |
Proceeds from the sale of certain assets related to our equity services management business | 0 | 2,870 |
Net cash provided by (used for) investing activities | 123,606 | -1,813,296 |
Cash flows from financing activities: | ' | ' |
Net increase in deposits | 820,539 | 1,015,530 |
(Decrease) increase in short-term borrowings | -160,530 | 508,170 |
Principal payments of other long term debt | 0 | -1,222 |
Capital contributions from noncontrolling interests, net of distributions | 7,922 | 63,956 |
Tax benefit from stock exercises | 4,501 | 5,067 |
Proceeds from issuance of common stock and ESPP | 38,408 | 27,350 |
Principal payments of 5.70% Senior Notes | 0 | ' |
Net cash provided by financing activities | 710,840 | 1,477,422 |
Net increase (decrease) in cash and cash equivalents | 933,761 | -208,268 |
Cash and cash equivalents at beginning of period | 1,008,983 | 1,114,948 |
Cash and cash equivalents at end of period | 1,942,744 | 906,680 |
Cash paid during the period for: | ' | ' |
Interest | 28,339 | 28,000 |
Income taxes | 107,282 | 69,094 |
Noncash items during the period: | ' | ' |
Unrealized (losses) gains on available-for-sale securities, net of tax | ($99,308) | $36,170 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |
Sep. 30, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis of Presentation | ' | |
Basis of Presentation | ||
SVB Financial Group is a diversified financial services company, as well as a bank holding company and financial holding company. SVB Financial was incorporated in the state of Delaware in March 1999. Through our various subsidiaries and divisions, we offer a variety of banking and financial products and services to support our clients of all sizes and stages throughout their life cycles. In these notes to our consolidated financial statements, when we refer to “SVB Financial Group,” “SVBFG”, the “Company,” “we,” “our,” “us” or use similar words, we mean SVB Financial Group and all of its subsidiaries collectively, including Silicon Valley Bank (the “Bank”), unless the context requires otherwise. When we refer to “SVB Financial” or the “Parent” we are referring only to the parent company, SVB Financial Group, unless the context requires otherwise. | ||
The accompanying unaudited interim consolidated financial statements reflect all adjustments of a normal and recurring nature that are, in the opinion of management, necessary to fairly present our financial position, results of operations and cash flows in accordance with GAAP. Such unaudited interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of results to be expected for any future periods. These unaudited interim consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012 (“2012 Form 10-K”). | ||
The accompanying unaudited interim consolidated financial statements have been prepared on a consistent basis with the accounting policies described in Consolidated Financial Statements and Supplementary Data—Note 2—“Summary of Significant Accounting Policies” under Part II, Item 8 of our 2012 Form 10-K. | ||
The preparation of unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates may change as new information is obtained. Significant items that are subject to such estimates include measurements of fair value, the valuation of non-marketable securities, the valuation of equity warrant assets, the adequacy of the allowance for loan losses and reserve for unfunded credit commitments, and the recognition and measurement of income tax assets and liabilities. | ||
Principles of Consolidation and Presentation | ||
Our consolidated financial statements include the accounts of SVB Financial Group and entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by evaluating whether the entity is a voting interest entity or a variable interest entity and whether the applicable accounting guidance requires consolidation. All significant intercompany accounts and transactions have been eliminated. | ||
Voting interest entities are entities that have sufficient equity and provide the equity investors voting rights that enable them to make significant decisions relating to the entity’s operations. For these types of entities, the Company’s determination of whether it has a controlling interest is based on ownership of the majority of the entities’ voting equity interest or through control of management of the entities. | ||
VIEs are entities that, by design, either (1) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties, or (2) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. We determine whether we have a controlling financial interest in a VIE by considering whether our involvement with the VIE is significant and whether we are the primary beneficiary based on the following: | ||
1 | We have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance; | |
2 | The aggregate indirect and direct variable interests held by the Company have the obligation to absorb losses or the right to receive benefits from the entity that could be significant to the VIE; and, | |
3 | Qualitative and quantitative factors regarding the nature, size, and form of our involvement with the VIE. | |
Voting interest entities in which we have a controlling financial interest or by which we control through management rights are consolidated into our financial statements. | ||
We have not provided financial or other support during the periods presented to any VIE that we were not previously contractually required to provide. We are variable interest holders in certain partnerships for which we are not the primary beneficiary. We perform on-going reassessments on the status of the entities and whether facts or circumstances have changed in relation to previously evaluated voting interest entities and our involvement in VIEs which could cause our consolidation conclusion to change. | ||
Impact of Adopting ASU No. 2011-11, Disclosures about Offsetting Assets and Liabilities | ||
In December 2011, the Financial Accounting Standards Board (FASB) issued a new accounting standard, which requires new disclosures surrounding derivative instruments and certain financial instruments that are offset on the statement of financial position, or are eligible for offset subject to a master netting arrangement. This standard was issued concurrent with the IASB’s issuance of a similar standard with the objective of converged disclosure guidance. The guidance is effective on a retrospective basis for the interim and annual reporting periods beginning on or after January 1, 2013, and was therefore adopted in the first quarter of 2013. The standard increased the disclosure requirements for derivative instruments and certain financial instruments that are subject to master netting arrangements, and did not have any impact on our financial position, results of operations or stockholders' equity. See Note 8 - “Derivative Financial Instruments” for further details. | ||
Impact of Adopting ASU No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | ||
In February 2013, the FASB issued a new accounting standard, which requires new disclosures surrounding the effect of reclassifications out of accumulated other comprehensive income. This standard requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component and by the respective line items of net income. The guidance was effective on a prospective basis for the interim and annual reporting periods beginning after January 1, 2013, and was therefore adopted in the first quarter of 2013. This standard increased the disclosure requirements for reclassifications out of accumulated other comprehensive income, and did not have any impact on our financial position, results of operations or stockholders’ equity. See Note 2 - "Stockholders' Equity and EPS" for further details. | ||
Recently Issued Accounting Pronouncements | ||
In June 2013, the FASB issued Accounting Standards Update (ASU) 2013-08, Financial Services - Investment Companies (ASC Topic 946): Amendments to the Scope, Measurement and Disclosure Requirement. This ASU modifies the guidance in ASC 946 for determining whether an entity is an investment company, as well as the measurement and disclosure requirements for investment companies. The ASU does not change current accounting where a noninvestment company parent retains the specialized accounting applied by an investment company subsidiary in consolidation. ASU 2013-08 will be applied prospectively for all periods beginning after December 15, 2013. We do not expect this ASU to have a material effect on our results of operations or financial position. | ||
Reclassifications | ||
Certain prior period amounts have been reclassified to conform to current period presentations. |
Stockholders_Equity_and_EPS
Stockholders' Equity and EPS | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Equity and Earnings Per Share [Abstract] | ' | ||||||||||||||||||
Stockholders' Equity and EPS | ' | ||||||||||||||||||
Stockholders’ Equity and EPS | |||||||||||||||||||
EPS | |||||||||||||||||||
Basic EPS is the amount of earnings available to each share of common stock outstanding during the reporting period. Diluted EPS is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include incremental shares issued for stock options and restricted stock units outstanding under our equity incentive plans and our ESPP. Potentially dilutive common shares are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive. The following is a reconciliation of basic EPS to diluted EPS for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Dollars and shares in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Numerator: | |||||||||||||||||||
Net income available to common stockholders | $ | 67,621 | $ | 42,289 | $ | 157,096 | $ | 124,682 | |||||||||||
Denominator: | |||||||||||||||||||
Weighted average common shares outstanding-basic | 45,580 | 44,449 | 45,180 | 44,147 | |||||||||||||||
Weighted average effect of dilutive securities: | |||||||||||||||||||
Stock options and ESPP | 429 | 346 | 405 | 402 | |||||||||||||||
Restricted stock units | 193 | 120 | 180 | 143 | |||||||||||||||
Denominator for diluted calculation | 46,202 | 44,915 | 45,765 | 44,692 | |||||||||||||||
Earnings per common share: | |||||||||||||||||||
Basic | $ | 1.48 | $ | 0.95 | $ | 3.48 | $ | 2.82 | |||||||||||
Diluted | $ | 1.46 | $ | 0.94 | $ | 3.43 | $ | 2.79 | |||||||||||
The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation as they were deemed to be antidilutive for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Shares in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Stock options | 343 | 795 | 546 | 658 | |||||||||||||||
Restricted stock units | — | 220 | 1 | — | |||||||||||||||
Total | 343 | 1,015 | 547 | 658 | |||||||||||||||
Accumulated Other Comprehensive Income | |||||||||||||||||||
The following table summarizes the items reclassified out of accumulated other comprehensive (loss) income into the Consolidated Statements of Income (unaudited) for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Dollars in thousands) | Income Statement Location | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Reclassification adjustment for (gains) losses included in net income | Gains on investment securities, net | $ | (219 | ) | $ | 101 | $ | (949 | ) | $ | (3,592 | ) | |||||||
Related tax benefit (expense) | Income tax expense | 85 | (41 | ) | 363 | 1,421 | |||||||||||||
Total reclassification adjustment for gains included in net income, net of tax | $ | (134 | ) | $ | 60 | $ | (586 | ) | $ | (2,171 | ) | ||||||||
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
Share-Based Compensation | |||||||||||||||||
For the three and nine months ended September 30, 2013 and 2012, we recorded share-based compensation and related tax benefits as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Share-based compensation expense | $ | 6,723 | $ | 5,617 | $ | 18,945 | $ | 16,594 | |||||||||
Income tax benefit related to share-based compensation expense | (2,243 | ) | (1,720 | ) | (5,801 | ) | (4,408 | ) | |||||||||
Unrecognized Compensation Expense | |||||||||||||||||
As of September 30, 2013, unrecognized share-based compensation expense was as follows: | |||||||||||||||||
(Dollars in thousands) | Unrecognized | Average | |||||||||||||||
Expense | Expected | ||||||||||||||||
Recognition | |||||||||||||||||
Period - in Years | |||||||||||||||||
Stock options | $ | 17,195 | 2.67 | ||||||||||||||
Restricted stock units | 34,357 | 2.72 | |||||||||||||||
Total unrecognized share-based compensation expense | $ | 51,552 | |||||||||||||||
Share-Based Payment Award Activity | |||||||||||||||||
The table below provides stock option information related to the 2006 Equity Incentive Plan for the nine months ended September 30, 2013: | |||||||||||||||||
Options | Weighted | Weighted | Aggregate | ||||||||||||||
Average | Average | Intrinsic Value | |||||||||||||||
Exercise Price | Remaining | of In-The- | |||||||||||||||
Contractual | Money | ||||||||||||||||
Life in Years | Options | ||||||||||||||||
Outstanding at December 31, 2012 | 2,060,413 | $ | 49.15 | ||||||||||||||
Granted | 311,692 | 71.54 | |||||||||||||||
Exercised | (661,216 | ) | 45.97 | ||||||||||||||
Forfeited | (44,330 | ) | 55.85 | ||||||||||||||
Expired | (953 | ) | 51.86 | ||||||||||||||
Outstanding at September 30, 2013 | 1,665,606 | 54.42 | 4.33 years | $ | 53,233,391 | ||||||||||||
Vested and expected to vest at September 30, 2013 | 1,610,512 | 54.02 | 4.28 years | 52,113,576 | |||||||||||||
Exercisable at September 30, 2013 | 789,760 | 44.89 | 3.15 years | 32,761,622 | |||||||||||||
The aggregate intrinsic value of outstanding options shown in the table above represents the pretax intrinsic value based on our closing stock price of $86.37 as of September 30, 2013. The total intrinsic value of options exercised during the three and nine months ended September 30, 2013 was $6.5 million and $18.4 million, respectively, compared to $3.0 million and $16.7 million for the comparable 2012 periods. | |||||||||||||||||
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2013: | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average | |||||||||||||||||
Grant Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Nonvested at December 31, 2012 | 585,543 | $ | 59.42 | ||||||||||||||
Granted | 328,245 | 71.52 | |||||||||||||||
Vested | (166,617 | ) | 56.41 | ||||||||||||||
Forfeited | (34,351 | ) | 61.35 | ||||||||||||||
Nonvested at September 30, 2013 | 712,820 | 65.6 | |||||||||||||||
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Cash and Cash Equivalents [Abstract] | ' | ||||||||
Cash and Cash Equivalents | ' | ||||||||
Cash and Cash Equivalents | |||||||||
The following table details our cash and cash equivalents at September 30, 2013 and December 31, 2012: | |||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||
Cash and due from banks (1) | $ | 1,770,123 | $ | 752,056 | |||||
Securities purchased under agreements to resell (2) | 168,026 | 133,357 | |||||||
Other short-term investment securities | 4,595 | 123,570 | |||||||
Total cash and cash equivalents | $ | 1,942,744 | $ | 1,008,983 | |||||
-1 | At September 30, 2013 and December 31, 2012, $1.2 billion and $72 million, respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were $222 million and $283 million, respectively. | ||||||||
-2 | At September 30, 2013 and December 31, 2012, securities purchased under agreements to resell were collateralized by U.S. treasury securities and U.S. agency securities with aggregate fair values of $171 million and $136 million, respectively. None of these securities received as collateral were sold or repledged as of September 30, 2013 or December 31, 2012. |
Investment_Securities
Investment Securities | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||||||||||||||||
Investment Securities | ||||||||||||||||||||||||||||||||||||
Our investment securities portfolio consists of both an available-for-sale securities portfolio, which represents interest-earning investment securities, and a non-marketable and other securities portfolio, which primarily represents investments managed as part of our funds management business. The major components of our investment securities portfolio at September 30, 2013 and December 31, 2012 are as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Unrealized | Unrealized | Carrying | Amortized | Unrealized | Unrealized | Carrying | ||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Available-for-sale securities, at fair value: | ||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | — | $ | — | $ | — | $ | 25,057 | $ | 190 | $ | — | $ | 25,247 | ||||||||||||||||||||
U.S. agency debentures | 3,602,585 | 46,412 | (24,177 | ) | 3,624,820 | 3,370,455 | 77,173 | — | 3,447,628 | |||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 1,493,666 | 28,013 | (2,981 | ) | 1,518,698 | 1,428,682 | 44,858 | (107 | ) | 1,473,433 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 3,269,966 | 21,699 | (44,188 | ) | 3,247,477 | 4,063,020 | 41,949 | (995 | ) | 4,103,974 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | 1,286,547 | 3,452 | (149 | ) | 1,289,850 | 1,760,551 | 12,201 | (4 | ) | 1,772,748 | ||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 445,336 | 1,381 | (10,785 | ) | 435,932 | 416,487 | 6,100 | (489 | ) | 422,098 | ||||||||||||||||||||||||||
Municipal bonds and notes | 82,039 | 4,540 | — | 86,579 | 85,790 | 7,750 | (11 | ) | 93,529 | |||||||||||||||||||||||||||
Equity securities | 6,722 | 807 | (968 | ) | 6,561 | 2,108 | 2,739 | (327 | ) | 4,520 | ||||||||||||||||||||||||||
Total available-for-sale securities | $ | 10,186,861 | $ | 106,304 | $ | (83,248 | ) | $ | 10,209,917 | $ | 11,152,150 | $ | 192,960 | $ | (1,933 | ) | $ | 11,343,177 | ||||||||||||||||||
Non-marketable and other securities: | ||||||||||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (1) | 773,499 | 665,921 | ||||||||||||||||||||||||||||||||||
Other venture capital investments (2) | 55,359 | 127,091 | ||||||||||||||||||||||||||||||||||
Other securities (fair value accounting) (3) | 219,600 | — | ||||||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments (4) | 142,571 | 139,330 | ||||||||||||||||||||||||||||||||||
Low income housing tax credit funds | 70,092 | 70,318 | ||||||||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (5) | 149,602 | 161,884 | ||||||||||||||||||||||||||||||||||
Other investments | 14,415 | 19,721 | ||||||||||||||||||||||||||||||||||
Total non-marketable and other securities | 1,425,138 | 1,184,265 | ||||||||||||||||||||||||||||||||||
Total investment securities | $ | 11,635,055 | $ | 12,527,442 | ||||||||||||||||||||||||||||||||
-1 | The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund, LP | $ | 30,265 | 12.6 | % | $ | 32,850 | 12.6 | % | ||||||||||||||||||||||||||||
SVB Strategic Investors Fund II, LP | 96,595 | 8.6 | 91,294 | 8.6 | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund III, LP | 226,123 | 5.9 | 209,696 | 5.9 | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund IV, LP | 209,368 | 5 | 169,931 | 5 | ||||||||||||||||||||||||||||||||
Strategic Investors Fund V Funds | 89,410 | Various | 40,622 | Various | ||||||||||||||||||||||||||||||||
Strategic Investors Fund VI Funds | 4,681 | 0.2 | — | — | ||||||||||||||||||||||||||||||||
SVB Capital Preferred Return Fund, LP | 55,721 | 20 | 53,643 | 20 | ||||||||||||||||||||||||||||||||
SVB Capital—NT Growth Partners, LP | 55,836 | 33 | 60,120 | 33 | ||||||||||||||||||||||||||||||||
SVB Capital Partners II, LP (i) | 716 | 5.1 | 1,303 | 5.1 | ||||||||||||||||||||||||||||||||
Other private equity fund (ii) | 4,784 | 58.2 | 6,462 | 58.2 | ||||||||||||||||||||||||||||||||
Total venture capital and private equity fund investments | $ | 773,499 | $ | 665,921 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||
(ii) | At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||||||||||||||||||||||||||||||||||
-2 | The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
Silicon Valley BancVentures, LP | $ | 7,383 | 10.7 | % | $ | 43,493 | 10.7 | % | ||||||||||||||||||||||||||||
SVB Capital Partners II, LP (i) | 43,682 | 5.1 | 79,761 | 5.1 | ||||||||||||||||||||||||||||||||
SVB Capital Shanghai Yangpu Venture Capital Fund | 4,294 | 6.8 | 3,837 | 6.8 | ||||||||||||||||||||||||||||||||
Total other venture capital investments | $ | 55,359 | $ | 127,091 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||
-3 | Investments classified as other securities (fair value accounting) represent certain direct equity investments in public companies held by our consolidated funds. | |||||||||||||||||||||||||||||||||||
-4 | The following table shows the carrying value and our ownership percentage of each investment at September 30, 2013 and December 31, 2012 (equity method accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
Gold Hill Venture Lending 03, LP (i) | $ | 8,734 | 9.3 | % | $ | 9,413 | 9.3 | % | ||||||||||||||||||||||||||||
Gold Hill Capital 2008, LP (ii) | 21,318 | 15.5 | 20,893 | 15.5 | ||||||||||||||||||||||||||||||||
China Joint Venture investment | 80,346 | 50 | 78,545 | 50 | ||||||||||||||||||||||||||||||||
Other investments | 32,173 | Various | 30,479 | Various | ||||||||||||||||||||||||||||||||
Total other investments (equity method accounting) | $ | 142,571 | $ | 139,330 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLC”) of 4.5 percent. | |||||||||||||||||||||||||||||||||||
(ii) | At September 30, 2013, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent. | |||||||||||||||||||||||||||||||||||
-5 | Represents investments in 293 and 324 funds (primarily venture capital funds) at September 30, 2013 and December 31, 2012, respectively, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. For the three months ended September 30, 2013, we recognized OTTI losses of $0.4 million resulting from other-than-temporary declines in value for 12 of the 293 investments. For the nine months ended September 30, 2013, we recognized OTTI losses of $1.2 million resulting from other-than-temporary declines in value for 37 of the investments. The OTTI losses are included in net gains on investment securities, a component of noninterest income. We concluded that any declines in value for the remaining investments were temporary and as such, no OTTI was required to be recognized. At September 30, 2013, the carrying value of these venture capital and private equity fund investments (cost method accounting) was $150 million, and the estimated fair value was $206 million. | |||||||||||||||||||||||||||||||||||
The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair Value of | Unrealized | Fair Value of | Unrealized | Fair Value of | Unrealized | ||||||||||||||||||||||||||||||
Investments | Losses | Investments | Losses | Investments | Losses | |||||||||||||||||||||||||||||||
U.S. agency debentures | $ | 942,337 | $ | (24,177 | ) | $ | — | $ | — | $ | 942,337 | $ | (24,177 | ) | ||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 261,787 | (2,981 | ) | — | — | 261,787 | (2,981 | ) | ||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 1,886,229 | (42,555 | ) | 79,190 | (1,633 | ) | 1,965,419 | (44,188 | ) | |||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | 147,218 | (149 | ) | — | — | 147,218 | (149 | ) | ||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 232,474 | (10,785 | ) | — | — | 232,474 | (10,785 | ) | ||||||||||||||||||||||||||||
Equity securities | 2,544 | (968 | ) | — | — | 2,544 | (968 | ) | ||||||||||||||||||||||||||||
Total temporarily impaired securities (1) | $ | 3,472,589 | $ | (81,615 | ) | $ | 79,190 | $ | (1,633 | ) | $ | 3,551,779 | $ | (83,248 | ) | |||||||||||||||||||||
-1 | As of September 30, 2013, we identified a total of 134 investments that were in unrealized loss positions, of which 3 investments totaling $79 million with unrealized losses of $1.6 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2013, we do not intend to sell any impaired debt or equity securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis. Based on our analysis as of September 30, 2013, we deem all impairments to be temporary, and therefore changes in value for our temporarily impaired securities as of the same date are included in other comprehensive income. Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis. | |||||||||||||||||||||||||||||||||||
The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair Value of | Unrealized | Fair Value of | Unrealized | Fair Value of | Unrealized | ||||||||||||||||||||||||||||||
Investments | Losses | Investments | Losses | Investments | Losses | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | $ | 22,831 | $ | (107 | ) | $ | — | $ | — | $ | 22,831 | $ | (107 | ) | ||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 461,397 | (995 | ) | — | — | 461,397 | (995 | ) | ||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | — | — | 7,908 | (4 | ) | 7,908 | (4 | ) | ||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 150,581 | (489 | ) | — | — | 150,581 | (489 | ) | ||||||||||||||||||||||||||||
Municipal bonds and notes | 2,098 | (11 | ) | — | — | 2,098 | (11 | ) | ||||||||||||||||||||||||||||
Equity securities | 97 | (61 | ) | 255 | (266 | ) | 352 | (327 | ) | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 637,004 | $ | (1,663 | ) | $ | 8,163 | $ | (270 | ) | $ | 645,167 | $ | (1,933 | ) | |||||||||||||||||||||
The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on debt securities classified as available-for-sale as of September 30, 2013. Interest income on certain municipal bonds and notes (non-taxable investments) are presented on a fully taxable equivalent basis using the federal statutory tax rate of 35.0 percent. The weighted average yield is computed using the amortized cost of debt securities, which are reported at fair value. For U.S. treasury securities, the expected maturity is the actual contractual maturity of the notes. Expected remaining maturities for certain U.S. agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. Expected maturities for mortgage-backed securities may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. Mortgage-backed securities classified as available-for-sale typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure. | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Total | One Year | After One | After Five | After | ||||||||||||||||||||||||||||||||
or Less | Year to | Years to | Ten Years | |||||||||||||||||||||||||||||||||
Five Years | Ten Years | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | ||||||||||||||||||||||||||
Value | Average | Value | Average | Value | Average | Value | Average | Value | Average | |||||||||||||||||||||||||||
Yield | Yield | Yield | Yield | Yield | ||||||||||||||||||||||||||||||||
U.S. agency debentures | $ | 3,624,820 | 1.56 | % | $ | 248,124 | 1.34 | % | $ | 2,607,969 | 1.49 | % | $ | 768,727 | 1.87 | % | $ | — | — | % | ||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 1,518,698 | 2.38 | — | — | 889 | 7.5 | 1,024,091 | 2.25 | 493,718 | 2.63 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | 3,247,477 | 1.9 | — | — | — | — | — | — | 3,247,477 | 1.9 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | 1,289,850 | 0.7 | — | — | — | — | — | — | 1,289,850 | 0.7 | ||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 435,932 | 1.92 | — | — | — | — | — | — | 435,932 | 1.92 | ||||||||||||||||||||||||||
Municipal bonds and notes | 86,579 | 5.98 | 1,334 | 5.44 | 23,498 | 5.69 | 43,304 | 6.03 | 18,443 | 6.26 | ||||||||||||||||||||||||||
Total | $ | 10,203,356 | 1.74 | $ | 249,458 | 1.36 | $ | 2,632,356 | 1.53 | $ | 1,836,122 | 2.18 | $ | 5,485,420 | 1.7 | |||||||||||||||||||||
The following table presents the components of gains and losses (realized and unrealized) on investment securities for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Gross gains on investment securities: | ||||||||||||||||||||||||||||||||||||
Available-for-sale securities, at fair value (1) | $ | 317 | $ | 20 | $ | 3,167 | $ | 5,363 | ||||||||||||||||||||||||||||
Marketable securities (fair value accounting) | — | 255 | 4,345 | 3,874 | ||||||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | 35,826 | 28,639 | 107,546 | 88,037 | ||||||||||||||||||||||||||||||||
Other venture capital investments | 5,180 | 2,515 | 8,020 | 5,848 | ||||||||||||||||||||||||||||||||
Other investments | — | — | — | 21 | ||||||||||||||||||||||||||||||||
Other securities (fair value accounting) (2) | 143,840 | — | 143,840 | — | ||||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments | 6,569 | 5,571 | 14,038 | 12,382 | ||||||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | 5,016 | 694 | 6,806 | 1,639 | ||||||||||||||||||||||||||||||||
Other investments | 34 | 1,406 | 370 | 1,712 | ||||||||||||||||||||||||||||||||
Total gross gains on investment securities | 196,782 | 39,100 | 288,132 | 118,876 | ||||||||||||||||||||||||||||||||
Gross losses on investment securities: | ||||||||||||||||||||||||||||||||||||
Available-for-sale securities, at fair value (1) | (98 | ) | (121 | ) | (2,218 | ) | (1,771 | ) | ||||||||||||||||||||||||||||
Marketable securities (fair value accounting) | — | (553 | ) | (2,534 | ) | (1,307 | ) | |||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | (1,575 | ) | (16,557 | ) | (17,020 | ) | (49,090 | ) | ||||||||||||||||||||||||||||
Other venture capital investments | (587 | ) | (125 | ) | (2,241 | ) | (10,007 | ) | ||||||||||||||||||||||||||||
Other securities (fair value accounting) | (75 | ) | — | (75 | ) | — | ||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments | (1,944 | ) | (1,091 | ) | (2,421 | ) | (1,794 | ) | ||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | (689 | ) | (423 | ) | (1,462 | ) | (963 | ) | ||||||||||||||||||||||||||||
Other investments | (3,952 | ) | (2 | ) | (4,300 | ) | (68 | ) | ||||||||||||||||||||||||||||
Total gross losses on investment securities | (8,920 | ) | (18,872 | ) | (32,271 | ) | (65,000 | ) | ||||||||||||||||||||||||||||
Gains on investment securities, net | $ | 187,862 | $ | 20,228 | $ | 255,861 | $ | 53,876 | ||||||||||||||||||||||||||||
Gains attributable to noncontrolling interests, including carried interest | $ | 151,360 | $ | 12,776 | $ | 204,723 | $ | 34,616 | ||||||||||||||||||||||||||||
-1 | Includes realized gains on sales of available-for-sale securities that are recognized in the income statement. Unrealized gains on available-for-sale securities are recognized in other comprehensive income and not shown in the table above. The cost basis of available-for-sale securities sold is determined on a specific identification basis. | |||||||||||||||||||||||||||||||||||
-2 | Other securities (fair value accounting) include unrealized valuation gains of $139 million attributable to one of our portfolio companies, FireEye, Inc. ("FireEye), after its IPO. |
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | |||||||||||||||||||||||||
We serve a variety of commercial clients in the technology, life science, venture capital/private equity and premium wine industries. Our technology clients generally tend to be in the industries of hardware (semiconductors, communications and electronics), software and related services, and clean technology. Because of the diverse nature of clean technology products and services, for our loan-related reporting purposes, cleantech-related loans are reported under our hardware, software, life science and other commercial loan categories, as applicable. Our life science clients are concentrated in the medical devices and biotechnology sectors. Loans made to venture capital/private equity firm clients typically enable them to fund investments prior to their receipt of funds from capital calls. Loans to the premium wine industry focus on vineyards and wineries that produce grapes and wines of high quality. | |||||||||||||||||||||||||
In addition to commercial loans, we make consumer loans through SVB Private Bank and provide real estate secured loans to eligible employees through our EHOP. Our private banking clients are primarily venture capital/private equity professionals and executive leaders in the innovation companies they support. These products and services include real estate secured home equity lines of credit, which may be used to finance real estate investments and loans used to purchase, renovate or refinance personal residences. These products and services also include restricted stock purchase loans and capital call lines of credit. | |||||||||||||||||||||||||
We also provide community development loans made as part of our responsibilities under the Community Reinvestment Act. These loans are included within “Construction loans” below and are primarily secured by real estate. | |||||||||||||||||||||||||
The composition of loans, net of unearned income of $89 million and $77 million at September 30, 2013 and December 31, 2012, respectively, is presented in the following table: | |||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,698,937 | $ | 3,261,489 | |||||||||||||||||||||
Hardware | 1,141,297 | 1,118,370 | |||||||||||||||||||||||
Venture capital/private equity | 1,932,822 | 1,732,699 | |||||||||||||||||||||||
Life science | 1,096,440 | 1,066,199 | |||||||||||||||||||||||
Premium wine | 149,257 | 143,511 | |||||||||||||||||||||||
Other | 287,352 | 315,453 | |||||||||||||||||||||||
Total commercial loans | 8,306,105 | 7,637,721 | |||||||||||||||||||||||
Real estate secured loans: | |||||||||||||||||||||||||
Premium wine (1) | 492,677 | 413,513 | |||||||||||||||||||||||
Consumer (2) | 831,644 | 685,300 | |||||||||||||||||||||||
Other | 28,233 | — | |||||||||||||||||||||||
Total real estate secured loans | 1,352,554 | 1,098,813 | |||||||||||||||||||||||
Construction loans | 72,398 | 65,742 | |||||||||||||||||||||||
Consumer loans | 93,925 | 144,657 | |||||||||||||||||||||||
Total loans, net of unearned income (3) | $ | 9,824,982 | $ | 8,946,933 | |||||||||||||||||||||
-1 | Included in our premium wine portfolio are gross construction loans of $132 million and $148 million at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
-2 | Consumer loans secured by real estate at September 30, 2013 and December 31, 2012 were comprised of the following: | ||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Loans for personal residence | $ | 643,345 | $ | 503,378 | |||||||||||||||||||||
Loans to eligible employees | 119,371 | 110,584 | |||||||||||||||||||||||
Home equity lines of credit | 68,928 | 71,338 | |||||||||||||||||||||||
Consumer loans secured by real estate | $ | 831,644 | $ | 685,300 | |||||||||||||||||||||
-3 | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
Credit Quality | |||||||||||||||||||||||||
The composition of loans, net of unearned income of $89 million and $77 million at September 30, 2013 and December 31, 2012, respectively, broken out by portfolio segment and class of financing receivable, is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,698,937 | $ | 3,261,489 | |||||||||||||||||||||
Hardware | 1,141,297 | 1,118,370 | |||||||||||||||||||||||
Venture capital/private equity | 1,932,822 | 1,732,699 | |||||||||||||||||||||||
Life science | 1,096,440 | 1,066,199 | |||||||||||||||||||||||
Premium wine | 641,934 | 557,024 | |||||||||||||||||||||||
Other | 387,983 | 381,195 | |||||||||||||||||||||||
Total commercial loans | 8,899,413 | 8,116,976 | |||||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 831,644 | 685,300 | |||||||||||||||||||||||
Other consumer loans | 93,925 | 144,657 | |||||||||||||||||||||||
Total consumer loans | 925,569 | 829,957 | |||||||||||||||||||||||
Total loans, net of unearned income | $ | 9,824,982 | $ | 8,946,933 | |||||||||||||||||||||
The following table summarizes the aging of our gross loans, broken out by portfolio segment and class of financing receivable as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | 30 - 59 | 60 - 89 | Greater | Total Past | Current | Loans Past Due | |||||||||||||||||||
Days Past | Days Past | Than 90 | Due | 90 Days or | |||||||||||||||||||||
Due | Due | Days Past | More Still | ||||||||||||||||||||||
Due | Accruing | ||||||||||||||||||||||||
Interest | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 1,546 | $ | 171 | $ | 24 | $ | 1,741 | $ | 3,733,358 | $ | 24 | |||||||||||||
Hardware | 29 | 643 | — | 672 | 1,125,277 | — | |||||||||||||||||||
Venture capital/private equity | 4 | — | — | 4 | 1,953,111 | — | |||||||||||||||||||
Life science | 153 | 249 | — | 402 | 1,107,659 | — | |||||||||||||||||||
Premium wine | 2,400 | — | — | 2,400 | 640,741 | — | |||||||||||||||||||
Other | 71 | 97 | — | 168 | 389,145 | — | |||||||||||||||||||
Total commercial loans | 4,203 | 1,160 | 24 | 5,387 | 8,949,291 | 24 | |||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | — | 828,401 | — | |||||||||||||||||||
Other consumer loans | — | — | — | — | 93,072 | — | |||||||||||||||||||
Total consumer loans | — | — | — | — | 921,473 | — | |||||||||||||||||||
Total gross loans excluding impaired loans | 4,203 | 1,160 | 24 | 5,387 | 9,870,764 | 24 | |||||||||||||||||||
Impaired loans | 91 | — | 5,678 | 5,769 | 32,279 | — | |||||||||||||||||||
Total gross loans | $ | 4,294 | $ | 1,160 | $ | 5,702 | $ | 11,156 | $ | 9,903,043 | $ | 24 | |||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 5,890 | $ | 238 | $ | 19 | $ | 6,147 | $ | 3,284,489 | $ | 19 | |||||||||||||
Hardware | 167 | 32 | — | 199 | 1,107,422 | — | |||||||||||||||||||
Venture capital/private equity | 7 | — | — | 7 | 1,749,896 | — | |||||||||||||||||||
Life science | 207 | 117 | — | 324 | 1,076,468 | — | |||||||||||||||||||
Premium wine | — | — | — | — | 554,886 | — | |||||||||||||||||||
Other | 280 | — | — | 280 | 378,619 | — | |||||||||||||||||||
Total commercial loans | 6,551 | 387 | 19 | 6,957 | 8,151,780 | 19 | |||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | — | 683,254 | — | |||||||||||||||||||
Other consumer loans | 111 | — | — | 111 | 143,867 | — | |||||||||||||||||||
Total consumer loans | 111 | — | — | 111 | 827,121 | — | |||||||||||||||||||
Total gross loans excluding impaired loans | 6,662 | 387 | 19 | 7,068 | 8,978,901 | 19 | |||||||||||||||||||
Impaired loans | 3,901 | 9,676 | 2,269 | 15,846 | 22,433 | — | |||||||||||||||||||
Total gross loans | $ | 10,563 | $ | 10,063 | $ | 2,288 | $ | 22,914 | $ | 9,001,334 | $ | 19 | |||||||||||||
The following table summarizes our impaired loans as they relate to our allowance for loan losses, broken out by portfolio segment and class of financing receivable as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | Impaired loans for | Impaired loans for | Total carrying value of impaired loans | Total unpaid | |||||||||||||||||||||
which there is a | which there is no | principal of impaired loans (1) | |||||||||||||||||||||||
related allowance | related allowance | ||||||||||||||||||||||||
for loan losses | for loan losses | ||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,041 | $ | — | $ | 3,041 | $ | 4,185 | |||||||||||||||||
Hardware | 25,891 | 1,555 | 27,446 | 46,744 | |||||||||||||||||||||
Venture capital/private equity | 47 | — | 47 | 47 | |||||||||||||||||||||
Premium wine | — | 1,476 | 1,476 | 1,786 | |||||||||||||||||||||
Other | 734 | 1,154 | 1,888 | 2,560 | |||||||||||||||||||||
Total commercial loans | 29,713 | 4,185 | 33,898 | 55,322 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | 3,339 | 3,339 | 9,256 | |||||||||||||||||||||
Other consumer loans | 811 | — | 811 | 1,065 | |||||||||||||||||||||
Total consumer loans | 811 | 3,339 | 4,150 | 10,321 | |||||||||||||||||||||
Total | $ | 30,524 | $ | 7,524 | $ | 38,048 | $ | 65,643 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,191 | $ | 72 | $ | 3,263 | $ | 4,475 | |||||||||||||||||
Hardware | 21,863 | — | 21,863 | 38,551 | |||||||||||||||||||||
Venture capital/private equity | — | — | — | — | |||||||||||||||||||||
Premium wine | — | 4,398 | 4,398 | 4,716 | |||||||||||||||||||||
Other | — | 5,415 | 5,415 | 9,859 | |||||||||||||||||||||
Total commercial loans | 25,054 | 9,885 | 34,939 | 57,601 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | 2,239 | 2,239 | 7,341 | |||||||||||||||||||||
Other consumer loans | 1,101 | — | 1,101 | 1,300 | |||||||||||||||||||||
Total consumer loans | 1,101 | 2,239 | 3,340 | 8,641 | |||||||||||||||||||||
Total | $ | 26,155 | $ | 12,124 | $ | 38,279 | $ | 66,242 | |||||||||||||||||
-1 | The unpaid principal balances for hardware and real estate secured consumer loans as of December 31, 2012 have been corrected from previously reported amounts resulting in the total unpaid principal of impaired loans at December 31, 2012 changing from $55.4 million to $66.2 million. | ||||||||||||||||||||||||
The following table summarizes our average impaired loans, broken out by portfolio segment and class of financing receivable for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Average impaired loans: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 4,306 | $ | 2,689 | $ | 4,631 | $ | 2,040 | |||||||||||||||||
Hardware | 25,456 | 18,490 | 24,536 | 17,407 | |||||||||||||||||||||
Venture capital/private equity | 75 | — | 35 | — | |||||||||||||||||||||
Life science | — | — | 303 | 78 | |||||||||||||||||||||
Premium wine | 1,502 | 3,093 | 2,458 | 3,334 | |||||||||||||||||||||
Other | 3,648 | 2,619 | 4,344 | 3,590 | |||||||||||||||||||||
Total commercial loans | 34,987 | 26,891 | 36,307 | 26,449 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 3,426 | 2,411 | 3,391 | 5,967 | |||||||||||||||||||||
Other consumer loans | 866 | 1,266 | 1,021 | 2,152 | |||||||||||||||||||||
Total consumer loans | 4,292 | 3,677 | 4,412 | 8,119 | |||||||||||||||||||||
Total average impaired loans | $ | 39,279 | $ | 30,568 | $ | 40,719 | $ | 34,568 | |||||||||||||||||
The following tables summarize the activity relating to our allowance for loan losses for the three and nine months ended September 30, 2013 and 2012, broken out by portfolio segment: | |||||||||||||||||||||||||
Three months ended September 30, 2013 (dollars in thousands) | Beginning Balance June 30, 2013 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2013 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 46,798 | $ | (2,527 | ) | $ | 816 | $ | 4,369 | $ | 49,456 | ||||||||||||||
Hardware | 33,188 | (5,544 | ) | 1,149 | 7,370 | 36,163 | |||||||||||||||||||
Venture capital/private equity | 13,593 | — | — | 617 | 14,210 | ||||||||||||||||||||
Life science | 11,741 | (57 | ) | 246 | (780 | ) | 11,150 | ||||||||||||||||||
Premium wine | 3,793 | — | 4 | 81 | 3,878 | ||||||||||||||||||||
Other | 3,654 | (21 | ) | 77 | (24 | ) | 3,686 | ||||||||||||||||||
Total commercial loans | 112,767 | (8,149 | ) | 2,292 | 11,633 | 118,543 | |||||||||||||||||||
Consumer loans | 6,804 | — | 382 | (995 | ) | 6,191 | |||||||||||||||||||
Total allowance for loan losses | $ | 119,571 | $ | (8,149 | ) | $ | 2,674 | $ | 10,638 | $ | 124,734 | ||||||||||||||
Nine months ended September 30, 2013 (dollars in thousands) | Beginning Balance December 31, 2012 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2013 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 42,648 | $ | (7,619 | ) | $ | 1,455 | $ | 12,972 | $ | 49,456 | ||||||||||||||
Hardware | 29,761 | (11,975 | ) | 1,998 | 16,379 | 36,163 | |||||||||||||||||||
Venture capital/private equity | 9,963 | — | — | 4,247 | 14,210 | ||||||||||||||||||||
Life science | 13,606 | (2,618 | ) | 1,335 | (1,173 | ) | 11,150 | ||||||||||||||||||
Premium wine | 3,523 | — | 135 | 220 | 3,878 | ||||||||||||||||||||
Other | 3,912 | (6,069 | ) | 2,458 | 3,385 | 3,686 | |||||||||||||||||||
Total commercial loans | 103,413 | (28,281 | ) | 7,381 | 36,030 | 118,543 | |||||||||||||||||||
Consumer loans | 7,238 | (869 | ) | 829 | (1,007 | ) | 6,191 | ||||||||||||||||||
Total allowance for loan losses | $ | 110,651 | $ | (29,150 | ) | $ | 8,210 | $ | 35,023 | $ | 124,734 | ||||||||||||||
Three months ended September 30, 2012 (dollars in thousands) | Beginning Balance June 30, 2012 | Charge-offs | Recoveries | Provision for(Reduction of) | Ending Balance September 30, 2012 | ||||||||||||||||||||
Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 37,981 | $ | — | $ | 374 | $ | (1,110 | ) | $ | 37,245 | ||||||||||||||
Hardware | 22,632 | (1,849 | ) | 106 | 6,796 | 27,685 | |||||||||||||||||||
Venture capital/private equity | 9,652 | — | — | 991 | 10,643 | ||||||||||||||||||||
Life science | 11,660 | (2,781 | ) | 3 | 3,281 | 12,163 | |||||||||||||||||||
Premium wine | 3,396 | — | 228 | (463 | ) | 3,161 | |||||||||||||||||||
Other | 4,942 | (7 | ) | 30 | (1,708 | ) | 3,257 | ||||||||||||||||||
Total commercial loans | 90,263 | (4,637 | ) | 741 | 7,787 | 94,154 | |||||||||||||||||||
Consumer loans | 7,903 | — | 466 | (999 | ) | 7,370 | |||||||||||||||||||
Total allowance for loan losses | $ | 98,166 | $ | (4,637 | ) | $ | 1,207 | $ | 6,788 | $ | 101,524 | ||||||||||||||
Nine months ended September 30, 2012 (dollars in thousands) | Beginning Balance December 31, 2011 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2012 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 38,263 | $ | (2,977 | ) | $ | 4,462 | $ | (2,503 | ) | $ | 37,245 | |||||||||||||
Hardware | 16,810 | (16,110 | ) | 540 | 26,445 | 27,685 | |||||||||||||||||||
Venture capital/private equity | 7,319 | — | — | 3,324 | 10,643 | ||||||||||||||||||||
Life science | 10,243 | (3,016 | ) | 316 | 4,620 | 12,163 | |||||||||||||||||||
Premium wine | 3,914 | (584 | ) | 493 | (662 | ) | 3,161 | ||||||||||||||||||
Other | 5,817 | (2,463 | ) | 1,181 | (1,278 | ) | 3,257 | ||||||||||||||||||
Total commercial loans | 82,366 | (25,150 | ) | 6,992 | 29,946 | 94,154 | |||||||||||||||||||
Consumer loans | 7,581 | (607 | ) | 1,026 | (630 | ) | 7,370 | ||||||||||||||||||
Total allowance for loan losses | $ | 89,947 | $ | (25,757 | ) | $ | 8,018 | $ | 29,316 | $ | 101,524 | ||||||||||||||
The following table summarizes the allowance for loan losses individually and collectively evaluated for impairment as of September 30, 2013 and December 31, 2012, broken out by portfolio segment: | |||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
(Dollars in thousands) | Individually Evaluated for | Collectively Evaluated for | Individually | Collectively | |||||||||||||||||||||
Impairment | Impairment | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 705 | $ | 48,751 | $ | 762 | $ | 41,886 | |||||||||||||||||
Hardware | 12,392 | 23,771 | 5,251 | 24,510 | |||||||||||||||||||||
Venture capital/private equity | 23 | 14,187 | — | 9,963 | |||||||||||||||||||||
Life science | — | 11,150 | — | 13,606 | |||||||||||||||||||||
Premium wine | — | 3,878 | — | 3,523 | |||||||||||||||||||||
Other | 162 | 3,524 | — | 3,912 | |||||||||||||||||||||
Total commercial loans | 13,282 | 105,261 | 6,013 | 97,400 | |||||||||||||||||||||
Consumer loans | 187 | 6,004 | 248 | 6,990 | |||||||||||||||||||||
Total allowance for loan losses | $ | 13,469 | $ | 111,265 | $ | 6,261 | $ | 104,390 | |||||||||||||||||
Credit Quality Indicators | |||||||||||||||||||||||||
For each individual client, we establish an internal credit risk rating for that loan, which is used for assessing and monitoring credit risk as well as performance of the loan and the overall portfolio. Our internal credit risk ratings are also used to summarize the risk of loss due to failure by an individual borrower to repay the loan. For our internal credit risk ratings, each individual loan is given a risk rating of 1 through 10. Loans risk-rated 1 through 4 are performing loans and translate to an internal rating of “Pass”, with loans risk-rated 1 being cash secured. Loans risk-rated 5 through 7 are performing loans, however, we consider them as demonstrating higher risk which requires more frequent review of the individual exposures; these translate to an internal rating of “Performing (Criticized)”. A majority of our Performing (Criticized) loans are from our SVB Accelerator practice, serving our emerging or early stage clients. Loans risk-rated 8 and 9 are loans that are considered to be impaired and are on nonaccrual status. Loans are placed on nonaccrual status when they become 90 days past due as to principal or interest payments (unless the principal and interest are well secured and in the process of collection), or when we have determined, based upon most recent available information, that the timely collection of principal or interest is not probable; these loans are deemed “impaired” (For further description of nonaccrual loans, refer to Note 2—“Summary of Significant Accounting Policies” under Part II, Item 8 of our 2012 Form 10-K). Loans rated 10 are charged-off and are not included as part of our loan portfolio balance. We review our credit quality indicators for performance and appropriateness of risk ratings as part of our evaluation process for our allowance for loan losses. The following table summarizes the credit quality indicators, broken out by portfolio segment and class of financing receivables as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | Pass | Performing | Impaired | Total | |||||||||||||||||||||
(Criticized) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,442,540 | $ | 292,560 | $ | 3,041 | $ | 3,738,141 | |||||||||||||||||
Hardware | 904,312 | 221,635 | 27,446 | 1,153,393 | |||||||||||||||||||||
Venture capital/private equity | 1,952,680 | 434 | 47 | 1,953,161 | |||||||||||||||||||||
Life science | 1,019,522 | 88,539 | — | 1,108,061 | |||||||||||||||||||||
Premium wine | 632,438 | 10,704 | 1,476 | 644,618 | |||||||||||||||||||||
Other | 366,533 | 22,780 | 1,888 | 391,201 | |||||||||||||||||||||
Total commercial loans | 8,318,025 | 636,652 | 33,898 | 8,988,575 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 822,148 | 6,252 | 3,339 | 831,739 | |||||||||||||||||||||
Other consumer loans | 89,036 | 4,038 | 811 | 93,885 | |||||||||||||||||||||
Total consumer loans | 911,184 | 10,290 | 4,150 | 925,624 | |||||||||||||||||||||
Total gross loans | $ | 9,229,209 | $ | 646,942 | $ | 38,048 | $ | 9,914,199 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,050,449 | $ | 240,187 | $ | 3,263 | $ | 3,293,899 | |||||||||||||||||
Hardware | 970,802 | 136,819 | 21,863 | 1,129,484 | |||||||||||||||||||||
Venture capital/private equity | 1,748,663 | 1,240 | — | 1,749,903 | |||||||||||||||||||||
Life science | 956,276 | 120,516 | — | 1,076,792 | |||||||||||||||||||||
Premium wine | 545,697 | 9,189 | 4,398 | 559,284 | |||||||||||||||||||||
Other | 360,291 | 18,608 | 5,415 | 384,314 | |||||||||||||||||||||
Total commercial loans | 7,632,178 | 526,559 | 34,939 | 8,193,676 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 663,911 | 19,343 | 2,239 | 685,493 | |||||||||||||||||||||
Other consumer loans | 132,818 | 11,160 | 1,101 | 145,079 | |||||||||||||||||||||
Total consumer loans | 796,729 | 30,503 | 3,340 | 830,572 | |||||||||||||||||||||
Total gross loans | $ | 8,428,907 | $ | 557,062 | $ | 38,279 | $ | 9,024,248 | |||||||||||||||||
TDRs | |||||||||||||||||||||||||
As of September 30, 2013 we had 21 TDRs with a total carrying value of $29.3 million where concessions have been granted to borrowers experiencing financial difficulties, in an attempt to maximize collection. There were unfunded commitments available for funding of $0.4 million to the clients associated with these TDRs as of September 30, 2013. The following table summarizes our loans modified in TDRs, broken out by portfolio segment and class of financing receivables at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Loans modified in TDRs: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 2,205 | $ | 2,021 | |||||||||||||||||||||
Hardware | 21,284 | 20,514 | |||||||||||||||||||||||
Venture capital/ private equity | 88 | — | |||||||||||||||||||||||
Premium wine | 1,476 | 2,593 | |||||||||||||||||||||||
Other | 2,283 | 5,900 | |||||||||||||||||||||||
Total commercial loans | 27,336 | 31,028 | |||||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 1,126 | 2,199 | |||||||||||||||||||||||
Other consumer loans | 811 | 1,101 | |||||||||||||||||||||||
Total consumer loans | 1,937 | 3,300 | |||||||||||||||||||||||
Total | $ | 29,273 | $ | 34,328 | |||||||||||||||||||||
The following table summarizes the recorded investment in loans modified in TDRs, broken out by portfolio segment and class of financing receivable, for modifications made during the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Loans modified in TDRs during the period: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 1,007 | $ | 1,969 | $ | 1,007 | $ | 1,969 | |||||||||||||||||
Hardware | 6,330 | — | 7,783 | 11,677 | |||||||||||||||||||||
Venture capital/ private equity | — | — | 88 | — | |||||||||||||||||||||
Premium wine | — | — | — | 156 | |||||||||||||||||||||
Other | — | — | 734 | 2,237 | |||||||||||||||||||||
Total commercial loans | 7,337 | 1,969 | 9,612 | 16,039 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | 392 | |||||||||||||||||||||
Other consumer loans | — | — | 41 | — | |||||||||||||||||||||
Total consumer loans | — | — | 41 | 392 | |||||||||||||||||||||
Total loans modified in TDR’s during the period (1) | $ | 7,337 | $ | 1,969 | $ | 9,653 | $ | 16,431 | |||||||||||||||||
-1 | There were partial charge-offs of $1.2 million and $2.4 million on loans classified as TDRs for the three and nine months ended September 30, 2013, respectively. There were partial charge-offs of $1.1 million and $11.0 million, respectively, on loans classified as TDRs during the three and nine months ended September 30, 2012. | ||||||||||||||||||||||||
During the three and nine months ended September 30, 2013, all new TDRs of $7.3 million and $9.6 million, respectively, were modified through payment deferrals granted to our clients, and no principal or interest was forgiven. | |||||||||||||||||||||||||
During the three months ended September 30, 2012, all new TDRs of $2.0 million were modified through payment deferrals granted to our client and no principal or interest was forgiven. During the nine months ended September 30, 2012, new TDRs totaling $9.6 million and $6.8 million were modified through partial forgiveness of principal and payment deferrals granted to our clients, respectively. | |||||||||||||||||||||||||
The related allowance for loan losses for the majority of our TDRs is determined on an individual basis by comparing the carrying value of the loan to the present value of the estimated future cash flows, discounted at the pre-modification contractual interest rate. For certain TDRs, the related allowance for loan losses is determined based on the fair value of the collateral if the loan is collateral dependent. | |||||||||||||||||||||||||
The following table summarizes the recorded investment in loans modified in TDRs within the previous 12 months that subsequently defaulted during the three and nine months ended September 30, 2013 and 2012, broken out by portfolio segment and class of financing receivable: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
TDRs modified within the previous 12 months that defaulted during the period: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Hardware | — | 515 | — | 515 | |||||||||||||||||||||
Premium wine | — | — | — | — | |||||||||||||||||||||
Other | — | — | |||||||||||||||||||||||
Total commercial loans | — | 515 | — | 515 | |||||||||||||||||||||
Consumer loans | — | 120 | 41 | 120 | |||||||||||||||||||||
Total TDRs modified within the previous 12 months that defaulted in the period | $ | — | $ | 635 | $ | 41 | $ | 635 | |||||||||||||||||
Charge-offs and defaults on previously restructured loans are evaluated to determine the impact to the allowance for loan losses, if any. The evaluation of these defaults may impact the assumptions used in calculating the reserve on other TDRs and impaired loans as well as management’s overall outlook of macroeconomic factors that affect the reserve on the loan portfolio as a whole. After evaluating the charge-offs and defaults experienced on our TDRs we determined that no change to our reserving methodology was necessary to determine the allowance for loan losses as of September 30, 2013. |
ShortTerm_Borrowings_and_LongT
Short-Term Borrowings and Long-Term Debt | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Short-Term Borrowings and Long-Term Debt | ' | ||||||||||||||
Short-Term Borrowings and Long-Term Debt | |||||||||||||||
The following table represents outstanding short-term borrowings and long-term debt at September 30, 2013 and December 31, 2012: | |||||||||||||||
Carrying Value | |||||||||||||||
(Dollars in thousands) | Maturity | Principal value at September 30, 2013 | September 30, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||||
Short-term borrowings: | |||||||||||||||
Federal funds purchased | — | — | — | 160,000 | |||||||||||
Other short-term borrowings | -1 | 5,580 | 5,580 | 6,110 | |||||||||||
Total short-term borrowings | $ | 5,580 | $ | 166,110 | |||||||||||
Long-term debt: | |||||||||||||||
5.375% Senior Notes | 15-Sep-20 | $ | 350,000 | $ | 348,155 | $ | 347,995 | ||||||||
6.05% Subordinated Notes (2) | June 1, 2017 | 45,964 | 52,524 | 54,571 | |||||||||||
7.0% Junior Subordinated Debentures | October 15, 2033 | 50,000 | 55,065 | 55,196 | |||||||||||
Total long-term debt | $ | 455,744 | $ | 457,762 | |||||||||||
-1 | Represents cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes. | ||||||||||||||
-2 | At September 30, 2013 and December 31, 2012, included in the carrying value of our 6.05% Subordinated Notes were $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. | ||||||||||||||
Interest expense related to short-term borrowings and long-term debt was $5.7 million and $17.4 million for the three and nine months ended September 30, 2013, respectively, and $5.8 million and $18.4 million for the three and nine months ended September 30, 2012, respectively. Interest expense is net of the hedge accounting impact from our interest rate swap agreements related to our 6.05% Subordinated Notes. The weighted average interest rate associated with our short-term borrowings as of September 30, 2013 was 0.06 percent. | |||||||||||||||
Available Lines of Credit | |||||||||||||||
We have certain facilities in place to enable us to access short-term borrowings on a secured (using available-for-sale securities as collateral) and an unsecured basis. These include repurchase agreements and uncommitted federal funds lines with various financial institutions. As of September 30, 2013, we had no outstanding borrowings against our uncommitted federal funds lines. We also pledge securities to the FHLB of San Francisco and the discount window at the Federal Reserve Bank. The market value of collateral pledged to the FHLB of San Francisco (comprised primarily of U.S. agency debentures) at September 30, 2013 totaled $1.4 billion, all of which was unused and available to support additional borrowings. The market value of collateral pledged at the discount window of the Federal Reserve Bank at September 30, 2013 totaled $599 million, all of which was unused and available to support additional borrowings. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||||||||
We primarily use derivative financial instruments to manage interest rate risk, currency exchange rate risk, and to assist customers with their risk management objectives. Also, in connection with negotiating credit facilities and certain other services, we often obtain equity warrant assets giving us the right to acquire stock in private, venture-backed companies in the technology and life science industries. | |||||||||||||||||||||||||||||||||||
Interest Rate Risk | |||||||||||||||||||||||||||||||||||
Interest rate risk is our primary market risk and can result from timing and volume differences in the repricing of our interest rate-sensitive assets and liabilities and changes in market interest rates. To manage interest rate risk for our 6.05% Subordinated Notes, we entered into a fixed-for-floating interest rate swap agreement at the time of debt issuance based upon LIBOR with matched-terms. Net cash benefits associated with our interest rate swaps are recorded as a reduction in “Interest expense—Borrowings,” a component of net interest income. The fair value of our interest rate swaps is calculated using a discounted cash flow method and adjusted for credit valuation associated with counterparty risk. Changes in fair value of the interest rate swaps are reflected in either other assets (for swaps in an asset position) or other liabilities (for swaps in a liability position). | |||||||||||||||||||||||||||||||||||
We assess hedge effectiveness under ASC 815, Derivatives and Hedging, using the long-haul method. Any differences associated with our interest rate swaps that arise as a result of hedge ineffectiveness are recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. | |||||||||||||||||||||||||||||||||||
Currency Exchange Risk | |||||||||||||||||||||||||||||||||||
We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure risk associated with the net difference between foreign currency denominated assets and liabilities, primarily in Pound Sterling and Euro. We do not designate any foreign exchange forward contracts as derivative instruments that qualify for hedge accounting. Changes in currency rates on foreign currency denominated instruments are included in other noninterest income, a component of noninterest income. We may experience ineffectiveness in the economic hedging relationship, because the instruments are revalued based upon changes in the currency’s spot rate on the principal value, while the forwards are revalued on a discounted cash flow basis. We record forward agreements in gain positions in other assets and loss positions in other liabilities, while net changes in fair value are recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. Additionally, through our global banking operations we maintain customer deposits denominated in the Euro and Pound Sterling which are used to fund certain loans in these currencies to limit our exposure to currency fluctuations. | |||||||||||||||||||||||||||||||||||
Other Derivative Instruments | |||||||||||||||||||||||||||||||||||
Equity Warrant Assets | |||||||||||||||||||||||||||||||||||
Our equity warrant assets are concentrated in private, venture-backed companies in the technology and life science industries. Most of these warrant agreements contain net share settlement provisions, which permit us to pay the warrant exercise price using shares issuable under the warrant (“cashless exercise”). We value our equity warrant assets using a modified Black-Scholes option pricing model, which incorporates assumptions about the underlying asset value, volatility, and the risk-free rate. We make valuation adjustments for estimated remaining life and marketability for warrants issued by private companies. Equity warrant assets are recorded at fair value in other assets, while changes in their fair value are recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. | |||||||||||||||||||||||||||||||||||
Loan Conversion Options | |||||||||||||||||||||||||||||||||||
In connection with negotiating certain credit facilities, we occasionally extend loan facilities which have convertible option features. The convertible loans may be converted into a certain number of shares determined by dividing the principal amount of the loan by the applicable conversion price. Because our loan conversion options have underlying and notional values and had no initial net investment, these assets qualify as derivative instruments. We value our loan conversion options using a modified Black-Scholes option pricing model, which incorporates assumptions about the underlying asset value, volatility, and the risk-free rate. Loan conversion options are recorded at fair value in other assets, while changes in their fair value are recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. | |||||||||||||||||||||||||||||||||||
Other Derivatives | |||||||||||||||||||||||||||||||||||
We sell forward and option contracts to clients who wish to mitigate their foreign currency exposure. We economically reduce the currency risk from this business by entering into opposite way contracts with correspondent banks. This relationship does not qualify for hedge accounting. The contracts generally have terms of one year or less, although we may have contracts extending for up to five years. Generally, we have not experienced nonperformance on these contracts, have not incurred credit losses, and anticipate performance by all counterparties to such agreements. Contracts in an asset position are included in other assets and contracts in a liability position are included in other liabilities. The net change in the fair value of these contracts is recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. | |||||||||||||||||||||||||||||||||||
We sell interest rate contracts to clients who wish to mitigate their interest rate exposure. We economically reduce the interest rate risk from this business by entering into opposite way contracts with correspondent banks. We do not designate any of these contracts (which are derivative instruments) as qualifying for hedge accounting. Contracts in an asset position are included in other assets and contracts in a liability position are included in other liabilities. The net change in the fair value of these derivatives is recorded through net gains on derivative instruments, in noninterest income, a component of consolidated net income. | |||||||||||||||||||||||||||||||||||
Counterparty Credit Risk | |||||||||||||||||||||||||||||||||||
We are exposed to credit risk if counterparties to our derivative contracts do not perform as expected. We mitigate counterparty credit risk through credit approvals, limits, monitoring procedures and obtaining collateral, as appropriate. | |||||||||||||||||||||||||||||||||||
The total notional or contractual amounts, fair value, collateral and net exposure of our derivative financial instruments at September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Notional or | Fair Value | Collateral | Net | Notional or | Fair Value | Collateral | Net | ||||||||||||||||||||||||||
Location | Contractual | -1 | Exposure | Contractual | -1 | Exposure | |||||||||||||||||||||||||||||
Amount | -2 | Amount | -2 | ||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Interest rate risks: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | Other assets | $ | 45,964 | $ | 7,027 | $ | 5,580 | $ | 1,447 | $ | 45,964 | $ | 9,005 | $ | 6,110 | $ | 2,895 | ||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Currency exchange risks: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | Other assets | 13,685 | 789 | — | 789 | 51,010 | 488 | — | 488 | ||||||||||||||||||||||||||
Foreign exchange forwards | Other liabilities | 208,712 | (754 | ) | — | (754 | ) | 102,956 | (1,728 | ) | — | (1,728 | ) | ||||||||||||||||||||||
Net exposure | 35 | — | 35 | (1,240 | ) | — | (1,240 | ) | |||||||||||||||||||||||||||
Other derivative instruments: | |||||||||||||||||||||||||||||||||||
Equity warrant assets | Other assets | 180,861 | 92,252 | — | 92,252 | 164,332 | 74,272 | — | 74,272 | ||||||||||||||||||||||||||
Other derivatives: | |||||||||||||||||||||||||||||||||||
Client foreign exchange forwards | Other assets | 459,501 | 17,492 | — | 17,492 | 385,470 | 11,864 | — | 11,864 | ||||||||||||||||||||||||||
Client foreign exchange forwards | Other liabilities | 482,755 | (16,073 | ) | — | (16,073 | ) | 356,026 | (9,930 | ) | — | (9,930 | ) | ||||||||||||||||||||||
Client foreign currency options | Other assets | 80,400 | 182 | — | 182 | 132,237 | 1,189 | — | 1,189 | ||||||||||||||||||||||||||
Client foreign currency options | Other liabilities | 80,400 | (182 | ) | — | (182 | ) | 132,237 | (1,189 | ) | — | (1,189 | ) | ||||||||||||||||||||||
Loan conversion options | Other assets | 8,877 | 1,774 | — | 1,774 | 9,782 | 890 | — | 890 | ||||||||||||||||||||||||||
Client interest rate derivatives | Other assets | 185,770 | 1,237 | — | 1,237 | 144,950 | 558 | — | 558 | ||||||||||||||||||||||||||
Client interest rate derivatives | Other liabilities | 185,770 | (1,427 | ) | — | (1,427 | ) | 144,950 | (590 | ) | — | (590 | ) | ||||||||||||||||||||||
Net exposure | 3,003 | — | 3,003 | 2,792 | — | 2,792 | |||||||||||||||||||||||||||||
Net | $ | 102,317 | $ | 5,580 | $ | 96,737 | $ | 84,829 | $ | 6,110 | $ | 78,719 | |||||||||||||||||||||||
-1 | Cash collateral received from our counterparty for our interest rate swap agreement is recorded as a component of “short-term borrowings” on our consolidated balance sheets. | ||||||||||||||||||||||||||||||||||
-2 | Net exposure for contracts in a gain position reflects the replacement cost in the event of nonperformance by all such counterparties. The credit ratings of our institutional counterparties as of September 30, 2013 remain at investment grade or higher and there were no material changes in their credit ratings during the three and nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||
A summary of our derivative activity and the related impact on our consolidated statements of income for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Statement of income location | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Interest rate risks: | |||||||||||||||||||||||||||||||||||
Net cash benefit associated with interest rate swaps | Interest expense—borrowings | $ | 634 | $ | 612 | $ | 1,901 | $ | 4,537 | ||||||||||||||||||||||||||
Changes in fair value of interest rate swaps | Net gains on derivative instruments | (7 | ) | 74 | 20 | 571 | |||||||||||||||||||||||||||||
Net gains associated with interest rate risk derivatives | $ | 627 | $ | 686 | $ | 1,921 | $ | 5,108 | |||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Currency exchange risks: | |||||||||||||||||||||||||||||||||||
Gains on revaluations of foreign currency instruments | Other noninterest income | $ | 8,101 | $ | 1,578 | $ | 451 | $ | 96 | ||||||||||||||||||||||||||
(Losses) gains on internal foreign exchange forward contracts, net | Net gains on derivative instruments | (8,423 | ) | 220 | (1,511 | ) | 1,162 | ||||||||||||||||||||||||||||
Net (losses) gains associated with currency risk | $ | (322 | ) | $ | 1,798 | $ | (1,060 | ) | $ | 1,258 | |||||||||||||||||||||||||
Other derivative instruments: | |||||||||||||||||||||||||||||||||||
Gains on equity warrant assets | Net gains on derivative instruments | $ | 18,780 | $ | 547 | $ | 29,475 | $ | 12,358 | ||||||||||||||||||||||||||
Gains on client foreign exchange forward contracts, net | Net gains on derivative instruments | $ | 369 | $ | 607 | $ | 2,179 | $ | 3,002 | ||||||||||||||||||||||||||
Net (losses) gains on other derivatives (1) | Net gains on derivative instruments | $ | (517 | ) | $ | (337 | ) | $ | 55 | $ | (1,293 | ) | |||||||||||||||||||||||
-1 | Primarily represents the change in fair value of loan conversion options. | ||||||||||||||||||||||||||||||||||
Balance Sheet Offsetting | |||||||||||||||||||||||||||||||||||
Certain of our derivative and other financial instruments are subject to enforceable master netting arrangements with our counterparties. These agreements provide for the net settlement of multiple contracts with a single counterparty through a single payment, in a single currency, in the event of default on or termination of any one contract. The following table summarizes our assets subject to enforceable master netting arrangements as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts of Recognized Assets | Gross Amounts offset in the Statement of Financial Position | Net Amounts of Assets Presented in the Statement of Financial Position | Financial Instruments | Cash Collateral Received | Net Amount | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 7,027 | $ | — | $ | 7,027 | $ | (1,447 | ) | $ | (5,580 | ) | $ | — | |||||||||||||||||||||
Foreign exchange forwards | 18,281 | — | 18,281 | (4,777 | ) | — | 13,504 | ||||||||||||||||||||||||||||
Foreign currency options | 225 | (43 | ) | 182 | (11 | ) | — | 171 | |||||||||||||||||||||||||||
Client interest rate derivatives | 1,237 | — | 1,237 | (60 | ) | — | 1,177 | ||||||||||||||||||||||||||||
Total derivative assets: | 26,770 | (43 | ) | 26,727 | (6,295 | ) | (5,580 | ) | 14,852 | ||||||||||||||||||||||||||
Reverse repurchase, securities borrowing, and similar arrangements | 168,026 | — | 168,026 | (168,026 | ) | — | — | ||||||||||||||||||||||||||||
Total | $ | 194,796 | $ | (43 | ) | $ | 194,753 | $ | (174,321 | ) | $ | (5,580 | ) | $ | 14,852 | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 9,005 | $ | — | $ | 9,005 | $ | (2,895 | ) | $ | (6,110 | ) | $ | — | |||||||||||||||||||||
Foreign exchange forwards | 12,352 | — | 12,352 | (7,363 | ) | — | 4,989 | ||||||||||||||||||||||||||||
Foreign currency options | 1,411 | (222 | ) | 1,189 | (556 | ) | — | 633 | |||||||||||||||||||||||||||
Client interest rate derivatives | 558 | — | 558 | (24 | ) | — | 534 | ||||||||||||||||||||||||||||
Total derivative assets: | 23,326 | (222 | ) | 23,104 | (10,838 | ) | (6,110 | ) | 6,156 | ||||||||||||||||||||||||||
Reverse repurchase, securities borrowing, and similar arrangements | 133,357 | — | 133,357 | (133,357 | ) | — | — | ||||||||||||||||||||||||||||
Total | $ | 156,683 | $ | (222 | ) | $ | 156,461 | $ | (144,195 | ) | $ | (6,110 | ) | $ | 6,156 | ||||||||||||||||||||
The following table summarizes our liabilities subject to enforceable master netting arrangements as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts of Recognized Liabilities | Gross Amounts offset in the Statement of Financial Position | Net Amounts of Liabilities Presented in the Statement of Financial Position | Financial Instruments | Cash Collateral Pledged | Net Amount | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | $ | 16,827 | $ | — | $ | 16,827 | $ | (13,964 | ) | $ | — | $ | 2,863 | ||||||||||||||||||||||
Foreign currency options | 225 | (43 | ) | 182 | (171 | ) | — | 11 | |||||||||||||||||||||||||||
Client interest rate derivatives | 1,427 | — | 1,427 | (1,362 | ) | — | 65 | ||||||||||||||||||||||||||||
Total derivative liabilities: | 18,479 | (43 | ) | 18,436 | (15,497 | ) | — | 2,939 | |||||||||||||||||||||||||||
Repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 18,479 | $ | (43 | ) | $ | 18,436 | $ | (15,497 | ) | $ | — | $ | 2,939 | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | $ | 11,658 | $ | — | $ | 11,658 | $ | (5,720 | ) | $ | — | $ | 5,938 | ||||||||||||||||||||||
Foreign currency options | 1,411 | (222 | ) | 1,189 | (633 | ) | — | 556 | |||||||||||||||||||||||||||
Client interest rate derivatives | 590 | — | 590 | (567 | ) | — | 23 | ||||||||||||||||||||||||||||
Total derivative assets: | 13,659 | (222 | ) | 13,437 | (6,920 | ) | — | 6,517 | |||||||||||||||||||||||||||
Repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 13,659 | $ | (222 | ) | $ | 13,437 | $ | (6,920 | ) | $ | — | $ | 6,517 | |||||||||||||||||||||
Other_Noninterest_Income_and_O
Other Noninterest Income and Other Noninterest Expense | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Other Noninterest Income and Other Noninterest Expense | ' | ||||||||||||||||
Other Noninterest Income and Other Noninterest Expense | |||||||||||||||||
A summary of other noninterest income for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Unused commitment fees | $ | 3,735 | $ | 2,579 | $ | 10,582 | $ | 9,312 | |||||||||
Fund management fees | 2,822 | 2,496 | 8,531 | 8,448 | |||||||||||||
Service-based fee income (1) | 1,901 | 1,651 | 5,706 | 6,197 | |||||||||||||
Net gains on the sale of certain assets related to our equity management services business | — | — | — | 4,243 | |||||||||||||
Loan syndication fees | 1,102 | 1,353 | 1,852 | 2,853 | |||||||||||||
Gains on revaluation of foreign currency instruments (2) | 8,101 | 1,578 | 451 | 96 | |||||||||||||
Currency revaluation (losses) gains (3) | (32 | ) | 845 | (7 | ) | (88 | ) | ||||||||||
Other | 4,797 | 2,921 | 11,068 | 8,104 | |||||||||||||
Total other noninterest income | $ | 22,426 | $ | 13,423 | $ | 38,183 | $ | 39,165 | |||||||||
-1 | Includes income from SVB Analytics. | ||||||||||||||||
-2 | Represents the revaluation of foreign currency denominated financial instruments issued and held by us, primarily loans, deposits and cash. | ||||||||||||||||
-3 | Primarily represents the revaluation of foreign currency denominated investments in certain funds. Included in these amounts are losses of $0.1 million and gains of $0.1 million for the three and nine months ended September 30, 2013, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. This compares to gains of $0.8 million and losses of $3.0 thousand for the comparable 2012 periods. | ||||||||||||||||
A summary of other noninterest expense for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Telephone | $ | 1,571 | $ | 1,619 | $ | 4,640 | $ | 4,950 | |||||||||
Client services | 1,920 | 1,804 | 5,711 | 4,796 | |||||||||||||
Data processing services | 2,020 | 1,575 | 5,814 | 4,290 | |||||||||||||
Tax credit fund amortization | 1,519 | 941 | 4,174 | 2,961 | |||||||||||||
Postage and supplies | 559 | 591 | 1,777 | 1,844 | |||||||||||||
Dues and publications | 399 | 472 | 1,302 | 1,503 | |||||||||||||
Other | 2,661 | 1,961 | 6,855 | 5,844 | |||||||||||||
Total other noninterest expense | $ | 10,649 | $ | 8,963 | $ | 30,273 | $ | 26,188 | |||||||||
Segment_Reporting
Segment Reporting | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting | ' | ||||||||||||||||||||
Segment Reporting | |||||||||||||||||||||
We have three reportable segments for management reporting purposes: Global Commercial Bank, SVB Private Bank and SVB Capital. The results of our operating segments are based on our internal management reporting process. | |||||||||||||||||||||
Our operating segments’ primary source of revenue is from net interest income, which is primarily the difference between interest earned on loans, net of funds transfer pricing (“FTP”), and interest paid on deposits, net of FTP. Accordingly, our segments are reported using net interest income, net of FTP. FTP is an internal measurement framework designed to assess the financial impact of a financial institution’s sources and uses of funds. It is the mechanism by which an earnings credit is given for deposits raised, and an earnings charge is made for funded loans. FTP is calculated at an instrument level based on account characteristics. | |||||||||||||||||||||
We also evaluate performance based on provision for loan losses, noninterest income and noninterest expense, which are presented as components of segment operating profit or loss. In calculating each operating segment’s noninterest expense, we consider the direct costs incurred by the operating segment as well as certain allocated direct costs. As part of this review, we allocate certain corporate overhead costs to a corporate account. We do not allocate income taxes to our segments. Additionally, our management reporting model is predicated on average asset balances; therefore, period-end asset balances are not presented for segment reporting purposes. Changes in an individual client’s primary relationship designation have resulted, and in the future may result, in the inclusion of certain clients in different segments in different periods. | |||||||||||||||||||||
Unlike financial reporting, which benefits from the comprehensive structure provided by GAAP, our internal management reporting process is highly subjective, as there is no comprehensive, authoritative guidance for management reporting. Our management reporting process measures the performance of our operating segments based on our internal operating structure, which is subject to change from time to time, and is not necessarily comparable with similar information for other financial services companies. | |||||||||||||||||||||
The following is a description of the services that our three reportable segments provide: | |||||||||||||||||||||
• | Global Commercial Bank provides solutions to the financial needs of commercial clients through lending, deposit products, cash management services, and global banking and trade products and services. It also serves the needs of our non-U.S. clients with global banking products, including loans, deposits and global finance, in key foreign entrepreneurial markets, where applicable. Our Global Commercial Bank segment is comprised of results from our Commercial Bank, and also includes SVB Specialty Lending, SVB Analytics and our Debt Fund Investments. (For further description of these operating segments, refer to Note 20—“Segment Reporting” under Part II, Item 8 of our 2012 Form 10-K.) | ||||||||||||||||||||
• | SVB Private Bank provides banking products and a range of credit services primarily to venture capital/private equity professionals using both long-term secured and short-term unsecured lines of credit. | ||||||||||||||||||||
• | SVB Capital is the venture capital investment arm of SVBFG, which focuses primarily on funds management. SVB Capital manages funds (primarily venture capital funds) on behalf of third party limited partners and SVB Financial Group. The SVB Capital family of funds is comprised of funds of funds and direct venture funds. SVB Capital generates income for the Company primarily through management fees, carried interest arrangements and returns through the Company’s investments in the funds. | ||||||||||||||||||||
The summary financial results of our operating segments are presented along with a reconciliation to our consolidated interim results. 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 in the Other Items column is primarily attributable to noncontrolling interests and gains on equity warrant assets. Noninterest expense in the Other Items column primarily consists of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. Additionally, average assets in the Other Items column primarily consists of cash and cash equivalents. | |||||||||||||||||||||
Our segment information for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||||||
(Dollars in thousands) | Global | SVB Private | SVB Capital (1) | Other Items | Total | ||||||||||||||||
Commercial | Bank | ||||||||||||||||||||
Bank (1) | |||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||
Net interest income | $ | 162,781 | $ | 6,195 | $ | 1 | $ | 8,119 | $ | 177,096 | |||||||||||
Provision for loan losses | (11,633 | ) | 995 | — | — | (10,638 | ) | ||||||||||||||
Noninterest income | 50,814 | 380 | 35,457 | 170,999 | 257,650 | ||||||||||||||||
Noninterest expense (2) | (109,088 | ) | (3,960 | ) | (2,728 | ) | (44,748 | ) | (160,524 | ) | |||||||||||
Income before income tax expense (3) | $ | 92,874 | $ | 3,610 | $ | 32,730 | $ | 134,370 | $ | 263,584 | |||||||||||
Total average loans, net of unearned income | $ | 8,683,784 | $ | 942,411 | $ | — | $ | (80,254 | ) | $ | 9,545,941 | ||||||||||
Total average assets (4) | 21,331,760 | 1,002,718 | 329,680 | 408,576 | 23,072,734 | ||||||||||||||||
Total average deposits | 18,994,576 | 535,611 | — | 29,701 | 19,559,888 | ||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||
Net interest income (loss) | $ | 151,858 | $ | 5,666 | $ | 6 | $ | (3,100 | ) | $ | 154,430 | ||||||||||
(Provision for) reduction of loan losses | (7,787 | ) | 999 | — | — | (6,788 | ) | ||||||||||||||
Noninterest income | 46,965 | 149 | 4,330 | 17,695 | 69,139 | ||||||||||||||||
Noninterest expense (2) | (98,064 | ) | (3,603 | ) | (3,562 | ) | (29,942 | ) | (135,171 | ) | |||||||||||
Income (loss) before income tax expense (3) | $ | 92,972 | $ | 3,211 | $ | 774 | $ | (15,347 | ) | $ | 81,610 | ||||||||||
Total average loans, net of unearned income | $ | 7,159,609 | $ | 755,001 | $ | — | $ | (7,004 | ) | $ | 7,907,606 | ||||||||||
Total average assets (4) | 19,860,340 | 758,988 | 238,595 | 869,274 | 21,727,197 | ||||||||||||||||
Total average deposits | 17,881,175 | 341,537 | — | 37,632 | 18,260,344 | ||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||
Net interest income | $ | 466,303 | $ | 18,226 | $ | 5 | $ | 25,812 | $ | 510,346 | |||||||||||
(Provision for) reduction of loan losses | (36,030 | ) | 1,007 | — | — | (35,023 | ) | ||||||||||||||
Noninterest income | 145,716 | 867 | 48,179 | 239,731 | 434,493 | ||||||||||||||||
Noninterest expense (2) | (316,949 | ) | (10,882 | ) | (7,871 | ) | (117,128 | ) | (452,830 | ) | |||||||||||
Income (loss) before income tax expense (3) | $ | 259,040 | $ | 9,218 | $ | 40,313 | $ | 148,415 | $ | 456,986 | |||||||||||
Total average loans, net of unearned income | $ | 8,274,380 | $ | 886,679 | $ | — | $ | (74,880 | ) | $ | 9,086,179 | ||||||||||
Total average assets (4) | 20,723,037 | 914,515 | 277,136 | 581,404 | 22,496,092 | ||||||||||||||||
Total average deposits | 18,480,757 | 493,204 | — | 15,399 | 18,989,360 | ||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||
Net interest income | $ | 441,542 | $ | 16,147 | $ | 22 | $ | (410 | ) | $ | 457,301 | ||||||||||
Provision for loan losses | (29,946 | ) | 630 | — | — | (29,316 | ) | ||||||||||||||
Noninterest income | 139,387 | 457 | 12,474 | 56,540 | 208,858 | ||||||||||||||||
Noninterest expense (2) | (293,193 | ) | (9,952 | ) | (8,970 | ) | (90,834 | ) | (402,949 | ) | |||||||||||
Income before income tax expense (3) | $ | 257,790 | $ | 7,282 | $ | 3,526 | $ | (34,704 | ) | $ | 233,894 | ||||||||||
Total average loans, net of unearned income | $ | 6,559,036 | $ | 745,069 | $ | — | $ | 14,432 | $ | 7,318,537 | |||||||||||
Total average assets (4) | 19,149,134 | 749,500 | 243,124 | 811,283 | 20,953,041 | ||||||||||||||||
Total average deposits | 17,240,715 | 278,736 | — | 27,743 | 17,547,194 | ||||||||||||||||
-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. | ||||||||||||||||||||
-2 | The Global Commercial Bank segment includes direct depreciation and amortization of $5.6 million and $4.5 million for the three months ended September 30, 2013 and 2012, respectively, and $16.0 million and $11.6 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||||||
-3 | 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. | ||||||||||||||||||||
-4 | Total average assets equals the greater of total average assets or the sum of total liabilities and total stockholders’ equity for each segment. |
OffBalance_Sheet_Arrangements_
Off-Balance Sheet Arrangements, Guarantees and Other Commitments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ' | ||||||||||||||||
Off-Balance Sheet Arrangements, Guarantees and Other Commitments | ' | ||||||||||||||||
Off-Balance Sheet Arrangements, Guarantees and Other Commitments | |||||||||||||||||
In the normal course of business, we use financial instruments with off-balance sheet risk to meet the financing needs of our customers. These financial instruments include commitments to extend credit, commercial and standby letters of credit and commitments to invest in venture capital and private equity fund investments. These instruments involve credit risk to varying degrees. Credit risk is defined as the possibility of sustaining a loss because other parties to the financial instrument fail to perform in accordance with the terms of the contract. | |||||||||||||||||
Commitments to Extend Credit | |||||||||||||||||
The following table summarizes information related to our commitments to extend credit at September 30, 2013 and December 31, 2012: | |||||||||||||||||
(Dollars in thousands) | September 30, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Loan commitments available for funding: (1) | |||||||||||||||||
Fixed interest rate commitments | $ | 1,222,651 | $ | 862,120 | |||||||||||||
Variable interest rate commitments | 8,571,795 | 6,906,580 | |||||||||||||||
Total loan commitments available for funding | 9,794,446 | 7,768,700 | |||||||||||||||
Commercial and standby letters of credit (2) | 881,123 | 842,091 | |||||||||||||||
Total unfunded credit commitments | $ | 10,675,569 | $ | 8,610,791 | |||||||||||||
Commitments unavailable for funding (3) | $ | 1,340,102 | $ | 1,315,072 | |||||||||||||
Maximum lending limits for accounts receivable factoring arrangements (4) | 873,502 | 880,057 | |||||||||||||||
Reserve for unfunded credit commitments (5) | 28,456 | 22,299 | |||||||||||||||
-1 | Represents commitments which are available for funding, due to clients meeting all collateral, compliance and financial covenants required under loan commitment agreements. | ||||||||||||||||
-2 | See below for additional information on our commercial and standby letters of credit. | ||||||||||||||||
-3 | Represents commitments which are currently unavailable for funding, due to clients failing to meet all collateral, compliance and financial covenants under loan commitment agreements. | ||||||||||||||||
-4 | We extend credit under accounts receivable factoring arrangements when our clients’ sales invoices are deemed creditworthy under existing underwriting practices. | ||||||||||||||||
-5 | Our reserve for unfunded credit commitments includes an allowance for both our unfunded loan commitments and our letters of credit. | ||||||||||||||||
Commercial and Standby Letters of Credit | |||||||||||||||||
The table below summarizes our commercial and standby letters of credit at September 30, 2013. The maximum potential amount of future payments represents the amount that could be remitted under letters of credit if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or from the collateral held or pledged. | |||||||||||||||||
(Dollars in thousands) | Expires In One | Expires After | Total Amount | Maximum Amount | |||||||||||||
Year or Less | One Year | Outstanding | of Future Payments | ||||||||||||||
Financial standby letters of credit | $ | 760,135 | $ | 52,889 | $ | 813,024 | $ | 813,024 | |||||||||
Performance standby letters of credit | 52,594 | 9,671 | 62,265 | 62,265 | |||||||||||||
Commercial letters of credit | 5,834 | — | 5,834 | 5,834 | |||||||||||||
Total | $ | 818,563 | $ | 62,560 | $ | 881,123 | $ | 881,123 | |||||||||
At September 30, 2013 and December 31, 2012, deferred fees related to financial and performance standby letters of credit were $8.3 million and $5.5 million, respectively. At September 30, 2013, collateral in the form of cash of $341.0 million and available-for-sale securities of $5.7 million were available to us to reimburse losses, if any, under financial and performance standby letters of credit. | |||||||||||||||||
Commitments to Invest in Venture Capital and Private Equity Funds | |||||||||||||||||
We make commitments to invest in venture capital and private equity funds, which in turn make investments generally in, or in some cases make loans to, privately-held companies. Commitments to invest in these funds are generally made for a 10-year period from the inception of the fund. Although the limited partnership agreements governing these investments typically do not restrict the general partners from calling 100% of committed capital in one year, it is customary for these funds to generally call most of the capital commitments over 5 to 7 years; however in certain cases, the funds may not call 100% of committed capital over the life of the fund. The actual timing of future cash requirements to fund these commitments is generally dependent upon the investment cycle, overall market conditions, and the nature and type of industry in which the privately held companies operate. The following table details our total capital commitments, unfunded capital commitments, and our ownership percentage in each fund at September 30, 2013: | |||||||||||||||||
Our Ownership in Venture Capital/Private Equity Funds | SVBFG Capital Commitments | SVBFG Unfunded | SVBFG Ownership | ||||||||||||||
(Dollars in thousands) | Commitments | of each Fund | |||||||||||||||
Silicon Valley BancVentures, LP | $ | 6,000 | $ | 270 | 10.7 | % | |||||||||||
SVB Capital Partners II, LP (1) | 1,200 | 162 | 5.1 | ||||||||||||||
SVB Capital Shanghai Yangpu Venture Capital Fund | 948 | 163 | 6.8 | ||||||||||||||
SVB Strategic Investors Fund, LP | 15,300 | 688 | 12.6 | ||||||||||||||
SVB Strategic Investors Fund II, LP | 15,000 | 1,050 | 8.6 | ||||||||||||||
SVB Strategic Investors Fund III, LP | 15,000 | 1,688 | 5.9 | ||||||||||||||
SVB Strategic Investors Fund IV, LP | 12,239 | 3,060 | 5 | ||||||||||||||
Strategic Investors Fund V Funds | 515 | 353 | Various | ||||||||||||||
Strategic Investors Fund VI Funds | 500 | 483 | 0.2 | ||||||||||||||
SVB Capital Preferred Return Fund, LP | 12,688 | — | 20 | ||||||||||||||
SVB Capital—NT Growth Partners, LP | 24,670 | 1,340 | 33 | ||||||||||||||
Other private equity fund (2) | 9,338 | — | 58.2 | ||||||||||||||
Partners for Growth, LP | 25,000 | 9,750 | 50 | ||||||||||||||
Debt funds (equity method accounting) | 65,253 | 4,950 | Various | ||||||||||||||
Other fund investments (3) | 303,691 | 51,460 | Various | ||||||||||||||
Total | $ | 507,342 | $ | 75,417 | |||||||||||||
-1 | Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in SVB Strategic Investors Fund II, LP. | ||||||||||||||||
-2 | Our ownership includes direct ownership of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital - NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | ||||||||||||||||
-3 | Represents commitments to 298 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. | ||||||||||||||||
The following table details the amounts of remaining unfunded commitments to venture capital and private equity funds by our consolidated managed funds of funds (including our interest and the noncontrolling interests) at September 30, 2013: | |||||||||||||||||
Limited Partnership | Unfunded | ||||||||||||||||
(Dollars in thousands) | Commitments | ||||||||||||||||
SVB Strategic Investors Fund, LP | $ | 2,298 | |||||||||||||||
SVB Strategic Investors Fund II, LP | 7,501 | ||||||||||||||||
SVB Strategic Investors Fund III, LP | 25,575 | ||||||||||||||||
SVB Strategic Investors Fund IV, LP | 68,836 | ||||||||||||||||
Strategic Investors Fund V Funds | 253,323 | ||||||||||||||||
Strategic Investors Fund VI Funds | 49,277 | ||||||||||||||||
SVB Capital Preferred Return Fund, LP | 11,326 | ||||||||||||||||
SVB Capital—NT Growth Partners, LP | 12,651 | ||||||||||||||||
Other private equity fund | 3,967 | ||||||||||||||||
Total | $ | 434,754 | |||||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
Income Taxes | |
We are subject to income tax in the U.S. federal jurisdiction and various state and foreign jurisdictions and have identified our federal tax return and tax returns in California and Massachusetts as “major” tax filings. U.S. federal tax examinations through 2009 have been concluded. Our U.S. federal tax returns for 2010 and subsequent years remain open to examination. Our California tax returns for 2008 and subsequent tax years remain open to examination. Massachusetts tax returns for 2008, 2010 and subsequent years remain open to examination. | |
During the quarter ended September 30, 2013, we recorded a one-time prior period tax adjustment of $2.9 million. Prior period amounts have not been revised as the income tax amounts were not considered material, individually, or in the aggregate, to any of the prior reporting periods affected. | |
At September 30, 2013, our unrecognized tax benefit was $0.5 million, the recognition of which would reduce our income tax expense by $0.3 million. We do not expect that our unrecognized tax benefit will materially change in the next 12 months. | |
We recognize interest and penalties related to income tax matters as part of income before income taxes. Interest and penalties were not material for the three and nine month periods ending September 30, 2013. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||||||||||||
Our available-for-sale securities, derivative instruments and certain non-marketable and other securities are financial instruments recorded at fair value on a recurring basis. We make estimates regarding valuation of assets and liabilities measured at fair value in preparing our interim consolidated financial statements. | |||||||||||||||||||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (the “exit price”) in an orderly transaction between market participants at the measurement date. There is a three-level hierarchy for disclosure of assets and liabilities recorded at fair value. The classification of assets and liabilities within the hierarchy is based on whether the inputs to the valuation methodology used for measurement are observable or unobservable and the significance of those inputs in the fair value measurement. Observable inputs reflect market-derived or market-based information obtained from independent sources, while unobservable inputs reflect our estimates about market data and views of market participants. The three levels for measuring fair value are based on the reliability of inputs and are as follows: | |||||||||||||||||||||||||||||||||||||
Level 1 | |||||||||||||||||||||||||||||||||||||
Fair value measurements based on quoted prices in active markets for identical assets or liabilities that we have the ability to access. Valuation adjustments and block discounts are not applied to instruments utilizing Level 1 inputs. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these instruments does not entail a significant degree of judgment. Assets utilizing Level 1 inputs include exchange-traded equity securities and certain marketable securities accounted for under fair value accounting. | |||||||||||||||||||||||||||||||||||||
Level 2 | |||||||||||||||||||||||||||||||||||||
Fair value measurements based on quoted prices in markets that are not active or for which all significant inputs are observable, directly or indirectly. Valuations for the available-for-sale securities are provided by third party external pricing service providers. We review the methodologies used to determine the fair value, including understanding the nature and observability of the inputs used to determine the price. Additional corroboration, such as obtaining a non-binding price from a broker, may be obtained depending on the frequency of trades of the security and the level of liquidity or depth of the market. The valuation methodology that is generally used for the Level 2 assets is the income approach. Below is a summary of the significant inputs used for each class of Level 2 assets and liabilities: | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities: U.S. treasury securities are considered by most investors to be the most liquid fixed income investments available. These securities are priced relative to market prices on similar U.S. treasury securities. | |||||||||||||||||||||||||||||||||||||
U.S. agency debentures: Fair value measurements of U.S. agency debentures are based on the characteristics specific to bonds held, such as issuer name, coupon rate, maturity date and any applicable issuer call option features. Valuations are based on market spreads relative to similar term benchmark market interest rates, generally U.S. treasury securities. | |||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities: Agency-issued mortgage-backed securities are pools of individual conventional mortgage loans underwritten to U.S. agency standards with similar coupon rates, tenor, and other attributes such as geographic location, loan size and origination vintage. Fair value measurements of these securities are based on observable price adjustments relative to benchmark market interest rates taking into consideration estimated loan prepayment speeds. | |||||||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations: Agency-issued collateralized mortgage obligations are structured into classes or tranches with defined cash flow characteristics and are collateralized by U.S. agency-issued mortgage pass-through securities. Fair value measurements of these securities incorporate similar characteristics of mortgage pass-through securities such as coupon rate, tenor, geographic location, loan size and origination vintage, in addition to incorporating the effect of estimated prepayment speeds on the cash flow structure of the class or tranche. These measurements incorporate observable market spreads over an estimated average life after considering the inputs listed above. | |||||||||||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities: Fair value measurements of these securities are based on spreads to benchmark market interest rates (usually U.S. treasury rates or rates observable in the swaps market), prepayment speeds, loan default rate assumptions and loan loss severity assumptions on underlying loans. | |||||||||||||||||||||||||||||||||||||
Municipal bonds and notes: Bonds issued by municipal governments generally have stated coupon rates, final maturity dates and are subject to being called ahead of the final maturity date at the option of the issuer. Fair value measurements of these securities are priced based on spreads to other municipal benchmark bonds with similar characteristics; or, relative to market rates on U.S. treasury bonds of similar maturity. | |||||||||||||||||||||||||||||||||||||
Interest rate swap assets: Fair value measurements of interest rate swaps are priced considering the coupon rate of the fixed leg of the contract and the variable coupon on the floating leg of the contract. Valuation is based on both spot and forward rates on the swap yield curve and the credit worthiness of the contract counterparty. | |||||||||||||||||||||||||||||||||||||
Foreign exchange forward and option contract assets and liabilities: Fair value measurements of these assets and liabilities are priced based on spot and forward foreign currency rates and option volatility assumptions and the credit worthiness of the contract counterparty. | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (public portfolio): Fair value measurements of equity warrant assets of publicly-traded portfolio companies are valued based on the Black-Scholes option pricing model. The model uses the price of publicly-traded companies (underlying stock price), stated strike prices, warrant expiration dates, the risk-free interest rate and market-observable option volatility assumptions. | |||||||||||||||||||||||||||||||||||||
Level 3 | |||||||||||||||||||||||||||||||||||||
The fair value measurement is derived from valuation techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions we believe market participants would use in pricing the asset. Below is a summary of the valuation techniques used for each class of Level 3 assets: | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments: Fair value measurements are based on the net asset value per share as obtained from the investee funds' management, as the funds do not have a readily determinable fair value and the funds prepare their financial statements using guidance consistent with the fair value accounting. We account for differences between our measurement date and the date of the fund investment’s net asset value by using the most recent available financial information from the investee general partner, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period. | |||||||||||||||||||||||||||||||||||||
Other venture capital investments: Fair value measurements are based on consideration of a range of factors including, but not limited to, the price at which the investment was acquired, the term and nature of the investment, local market conditions, values for comparable securities, and as it relates to the private company, the current and projected operating performance, exit strategies and financing transactions subsequent to the acquisition of the investment. The significant unobservable inputs used in the fair value measurement include the information about each portfolio company, including actual and forecasted results, cash position, recent or planned transactions and market comparable companies. Significant changes to any one of these inputs in isolation could result in a significant change in the fair value measurement, however, we generally consider all factors available through ongoing communication with the portfolio companies and venture capital fund managers to determine whether there are changes to the portfolio company or the environment that indicate a change in the fair value measurement. | |||||||||||||||||||||||||||||||||||||
Other securities: Fair value measurements of equity securities of public companies are priced based quoted market prices less a discount if the securities are subject to marketability restrictions. Marketability discounts generally range from 10% to 20% depending on the duration of the sale restrictions which typically range from 3 to 6 months. | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (public portfolio): Fair value measurements of equity warrant assets of publicly-traded portfolio companies are valued based on the Black-Scholes option pricing model. The model uses the price of publicly-traded companies (underlying stock price), stated strike prices, warrant expiration dates, the risk-free interest rate and market-observable option volatility assumptions. Modeled asset values are further adjusted by applying a discount of up to 20 percent for certain warrants that have lockup restrictions or other features that indicate a discount to fair value is warranted. As lockup term nears, and other sale restrictions are lifted, discounts are adjusted downward to 0 percent once all restrictions expire or are removed. | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (private portfolio): Fair value measurements of equity warrant assets of private portfolio companies are priced based on a modified Black-Scholes option pricing model to estimate the asset value by using stated strike prices, option expiration dates, risk-free interest rates and option volatility assumptions. Option volatility assumptions used in the modified Black-Scholes model are based on public market indices whose members operate in similar industries as companies in our private company portfolio. Option expiration dates are modified to account for estimates to actual life relative to stated expiration. Overall model asset values are further adjusted for a general lack of liquidity due to the private nature of the associated underlying company. There is a direct correlation between changes in the volatility and remaining life assumptions in isolation and the fair value measurement while there is an inverse correlation between changes in the liquidity discount assumption and the fair value measurement. | |||||||||||||||||||||||||||||||||||||
It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements. When available, we use quoted market prices to measure fair value. If market prices are not available, fair value measurement is based upon valuation techniques that use primarily market-based or independently-sourced market parameters, including interest rate yield curves, prepayment speeds, option volatilities and currency rates. Substantially all of our financial instruments use the foregoing methodologies, and are categorized as a Level 1 or Level 2 measurement in the fair value hierarchy. However, in certain cases, when market observable inputs for our valuation techniques may not be readily available, we are required to make judgments about assumptions we believe market participants would use in estimating the fair value of the financial instrument, and based on the significance of those judgments, the measurement may be determined to be a Level 3 fair value measurement. | |||||||||||||||||||||||||||||||||||||
The degree of management judgment involved in determining the fair value of a financial instrument is dependent upon the availability of quoted market prices or observable market parameters. For financial instruments that trade actively and have quoted market prices or observable market parameters, there is minimal subjectivity involved in measuring fair value. When observable market prices and parameters are not fully available, management judgment is necessary to estimate fair value. For inactive markets, there is little information, if any, to evaluate if individual transactions are orderly. Accordingly, we are required to estimate, based upon all available facts and circumstances, the degree to which orderly transactions are occurring and provide more weighting to price quotes that are based upon orderly transactions. In addition, changes in the market conditions may reduce the availability of quoted prices or observable data. For example, reduced liquidity in the capital markets or changes in secondary market activities could result in observable market inputs becoming unavailable. Therefore, when market data is not available, we use valuation techniques requiring more management judgment to estimate the appropriate fair value measurement. Accordingly, the degree of judgment exercised by management in determining fair value is greater for financial assets and liabilities categorized as Level 3. | |||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2013: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Balance at September 30, 2013 | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
U.S. agency debentures | — | 3,624,820 | — | 3,624,820 | |||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | — | 1,518,698 | — | 1,518,698 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | — | 3,247,477 | — | 3,247,477 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | — | 1,289,850 | — | 1,289,850 | |||||||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | — | 435,932 | — | 435,932 | |||||||||||||||||||||||||||||||||
Municipal bonds and notes | — | 86,579 | — | 86,579 | |||||||||||||||||||||||||||||||||
Equity securities | 4,021 | 2,540 | — | 6,561 | |||||||||||||||||||||||||||||||||
Total available-for-sale securities | 4,021 | 10,205,896 | — | 10,209,917 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Non-marketable securities: | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | — | — | 773,499 | 773,499 | |||||||||||||||||||||||||||||||||
Other venture capital investments | — | — | 55,359 | 55,359 | |||||||||||||||||||||||||||||||||
Other securities | 2,546 | — | 217,054 | 219,600 | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) | 2,546 | — | 1,045,912 | 1,048,458 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | — | 7,027 | — | 7,027 | |||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | — | 18,463 | — | 18,463 | |||||||||||||||||||||||||||||||||
Equity warrant assets | — | 4,126 | 88,126 | 92,252 | |||||||||||||||||||||||||||||||||
Loan conversion options | — | 1,774 | — | 1,774 | |||||||||||||||||||||||||||||||||
Client interest rate derivatives | — | 1,237 | — | 1,237 | |||||||||||||||||||||||||||||||||
Total assets (1) | $ | 6,567 | $ | 10,238,523 | $ | 1,134,038 | $ | 11,379,128 | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | $ | — | $ | 17,009 | $ | — | $ | 17,009 | |||||||||||||||||||||||||||||
Client interest rate derivatives | — | 1,427 | — | 1,427 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | — | $ | 18,436 | $ | — | $ | 18,436 | |||||||||||||||||||||||||||||
-1 | Included in Level 1 and Level 3 assets are $2.4 million and $953 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. | ||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Balance at December 31, 2012 | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | 25,247 | $ | — | $ | 25,247 | |||||||||||||||||||||||||||||
U.S. agency debentures | — | 3,447,628 | — | 3,447,628 | |||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | — | 1,473,433 | — | 1,473,433 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | — | 4,103,974 | — | 4,103,974 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | — | 1,772,748 | — | 1,772,748 | |||||||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | — | 422,098 | — | 422,098 | |||||||||||||||||||||||||||||||||
Municipal bonds and notes | — | 93,529 | — | 93,529 | |||||||||||||||||||||||||||||||||
Equity securities | 4,520 | — | — | 4,520 | |||||||||||||||||||||||||||||||||
Total available-for-sale securities | 4,520 | 11,338,657 | — | 11,343,177 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | — | — | 665,921 | 665,921 | |||||||||||||||||||||||||||||||||
Other venture capital investments | — | — | 127,091 | 127,091 | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) | — | — | 793,012 | 793,012 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Marketable securities | 1,144 | 9,184 | — | 10,328 | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 9,005 | — | 9,005 | |||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | — | 13,541 | — | 13,541 | |||||||||||||||||||||||||||||||||
Equity warrant assets | — | 8,143 | 66,129 | 74,272 | |||||||||||||||||||||||||||||||||
Loan conversion options | — | 890 | — | 890 | |||||||||||||||||||||||||||||||||
Client interest rate derivatives | — | 558 | — | 558 | |||||||||||||||||||||||||||||||||
Total assets (1) | $ | 5,664 | $ | 11,379,978 | $ | 859,141 | $ | 12,244,783 | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | $ | — | $ | 12,847 | $ | — | $ | 12,847 | |||||||||||||||||||||||||||||
Client interest rate derivatives | — | 590 | — | 590 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | — | $ | 13,437 | $ | — | $ | 13,437 | |||||||||||||||||||||||||||||
-1 | Included in Level 1, Level 2, and Level 3 assets are $1.1 million, $8.7 million, and $708 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. | ||||||||||||||||||||||||||||||||||||
The following table presents additional information about Level 3 assets measured at fair value on a recurring basis for the three and nine months ended September 30, 2013 and 2012, respectively: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Beginning | Total Realized and Unrealized Gains (Losses) Included in Income | Purchases | Sales | Issuances | Distributions and Other Settlements | Transfers Into Level 3 | Transfers Out of Level 3 | Ending | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 741,522 | $ | 34,288 | $ | 41,704 | $ | — | $ | — | $ | (44,015 | ) | $ | — | $ | — | $ | 773,499 | ||||||||||||||||||
Other venture capital investments | 123,493 | 4,530 | 1,016 | 4 | — | (73,684 | ) | — | — | 55,359 | |||||||||||||||||||||||||||
Other securities (fair value accounting) | — | 143,301 | — | — | — | 73,753 | — | — | 217,054 | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting)(1) | 865,015 | 182,119 | 42,720 | 4 | — | (43,946 | ) | — | — | 1,045,912 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 73,229 | 18,215 | — | (6,366 | ) | 2,995 | 365 | — | (312 | ) | 88,126 | ||||||||||||||||||||||||||
Total assets | $ | 938,244 | $ | 200,334 | $ | 42,720 | $ | (6,362 | ) | $ | 2,995 | $ | (43,581 | ) | $ | — | $ | (312 | ) | $ | 1,134,038 | ||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 639,596 | $ | 12,104 | $ | 35,092 | $ | — | $ | — | $ | (28,383 | ) | $ | — | $ | — | $ | 658,409 | ||||||||||||||||||
Other venture capital investments | 120,111 | 3,259 | 953 | (5,202 | ) | — | 479 | — | (978 | ) | 118,622 | ||||||||||||||||||||||||||
Other investments | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 759,707 | 15,363 | 36,045 | (5,202 | ) | — | (27,904 | ) | — | (978 | ) | 777,031 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 68,619 | (800 | ) | — | (5,954 | ) | 2,994 | — | — | (168 | ) | 64,691 | |||||||||||||||||||||||||
Total assets | $ | 828,326 | $ | 14,563 | $ | 36,045 | $ | (11,156 | ) | $ | 2,994 | $ | (27,904 | ) | $ | — | $ | (1,146 | ) | $ | 841,722 | ||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 665,921 | $ | 90,526 | $ | 107,022 | $ | — | $ | — | $ | (89,970 | ) | $ | — | $ | — | $ | 773,499 | ||||||||||||||||||
Other venture capital investments | 127,091 | 5,779 | 1,210 | (381 | ) | — | (74,779 | ) | — | (3,561 | ) | 55,359 | |||||||||||||||||||||||||
Other securities (fair value accounting) | — | 143,301 | — | — | — | 73,753 | — | — | 217,054 | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 793,012 | 239,606 | 108,232 | (381 | ) | — | (90,996 | ) | — | (3,561 | ) | 1,045,912 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 66,129 | 26,142 | — | (10,805 | ) | 7,309 | 1,743 | — | (2,392 | ) | 88,126 | ||||||||||||||||||||||||||
Total assets | $ | 859,141 | $ | 265,748 | $ | 108,232 | $ | (11,186 | ) | $ | 7,309 | $ | (89,253 | ) | $ | — | $ | (5,953 | ) | $ | 1,134,038 | ||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 611,824 | $ | 38,765 | $ | 90,173 | $ | — | $ | — | $ | (82,353 | ) | $ | — | $ | — | $ | 658,409 | ||||||||||||||||||
Other venture capital investments | 124,121 | (3,868 | ) | 8,888 | (9,441 | ) | — | 495 | — | (1,573 | ) | 118,622 | |||||||||||||||||||||||||
Other investments | 987 | 21 | — | — | — | (1,008 | ) | — | — | — | |||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 736,932 | 34,918 | 99,061 | (9,441 | ) | — | (82,866 | ) | — | (1,573 | ) | 777,031 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 63,030 | 8,848 | — | (15,672 | ) | 9,167 | 1 | — | (683 | ) | 64,691 | ||||||||||||||||||||||||||
Total assets | $ | 799,962 | $ | 43,766 | $ | 99,061 | $ | (25,113 | ) | $ | 9,167 | $ | (82,865 | ) | $ | — | $ | (2,256 | ) | $ | 841,722 | ||||||||||||||||
-1 | Realized and unrealized gains (losses) are recorded on the line items “gains on investment securities, net”, and “other noninterest income”, components of noninterest income. | ||||||||||||||||||||||||||||||||||||
-2 | Realized and unrealized gains (losses) are recorded on the line item “gains on derivative instruments, net”, a component of noninterest income. | ||||||||||||||||||||||||||||||||||||
The following table presents the amount of unrealized gains (losses) included in earnings (which is inclusive of noncontrolling interest) attributable to Level 3 assets still held at September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 32,694 | $ | 12,724 | $ | 89,705 | $ | 38,916 | |||||||||||||||||||||||||||||
Other venture capital investments | 4,603 | (963 | ) | 5,720 | 4,177 | ||||||||||||||||||||||||||||||||
Other securities | 143,301 | — | 143,301 | — | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 180,598 | 11,761 | 238,726 | 43,093 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 14,205 | (2,480 | ) | 19,788 | (2,505 | ) | |||||||||||||||||||||||||||||||
Total unrealized gains | $ | 194,803 | $ | 9,281 | $ | 258,514 | $ | 40,588 | |||||||||||||||||||||||||||||
Unrealized gains attributable to noncontrolling interests | $ | 164,871 | $ | 9,543 | $ | 215,340 | $ | 37,445 | |||||||||||||||||||||||||||||
-1 | Unrealized gains (losses) are recorded on the line items “gains on investment securities, net”, and “other noninterest income”, components of noninterest income. | ||||||||||||||||||||||||||||||||||||
-2 | Unrealized gains (losses) are recorded on the line item “gains on derivative instruments, net”, a component of noninterest income. | ||||||||||||||||||||||||||||||||||||
The following table presents quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurements at September 30, 2013. We have not included in this table our venture capital and private equity fund investments (fair value accounting) as we use net asset value per share (as obtained from the general partners of the investments) as a practical expedient to determine fair value. | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Valuation Technique | Significant Unobservable Inputs | Weighted | |||||||||||||||||||||||||||||||||
Average | |||||||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Other venture capital investments (fair value accounting) | $ | 55,359 | Private company equity pricing | -1 | (1 | ) | |||||||||||||||||||||||||||||||
Other securities | 217,054 | Modified stock price | Marketability discount | 20 | % | ||||||||||||||||||||||||||||||||
Equity warrant assets (public portfolio) | 12,618 | Modified Black-Scholes option pricing model | Marketability discount | 20 | % | ||||||||||||||||||||||||||||||||
Equity warrant assets (private portfolio) | 75,508 | Modified Black-Scholes option pricing model | Volatility | 39.7 | % | ||||||||||||||||||||||||||||||||
Risk-Free interest rate | 0.8 | % | |||||||||||||||||||||||||||||||||||
Marketability discount (2) | 22.5 | % | |||||||||||||||||||||||||||||||||||
Remaining life assumption (3) | 45 | % | |||||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Other venture capital investments (fair value accounting) | 127,091 | Private company equity pricing | -1 | (1 | ) | ||||||||||||||||||||||||||||||||
Equity warrant assets (private portfolio) | 66,129 | Modified Black-Scholes option pricing model | Volatility | 45.2 | % | ||||||||||||||||||||||||||||||||
Risk-Free interest rate | 0.4 | % | |||||||||||||||||||||||||||||||||||
Marketability discount (2) | 22.5 | % | |||||||||||||||||||||||||||||||||||
Remaining life assumption (3) | 45 | % | |||||||||||||||||||||||||||||||||||
-1 | In determining the fair value of our other venture capital investment portfolio, we evaluate a variety of factors related to each underlying private portfolio company including, but not limited to, actual and forecasted results, cash position, recent or planned transactions and market comparable companies. Additionally, we have ongoing communication with the portfolio companies and venture capital fund managers, to determine whether there is a material change in fair value. These factors are specific to each portfolio company and a weighted average or range of values of the unobservable inputs is not meaningful. | ||||||||||||||||||||||||||||||||||||
-2 | Our marketability discount is applied to all private company warrants to account for a general lack of liquidity due to the private nature of the associated underlying company. The quantitative measure used is based on long-run averages and is influenced over time by various factors, including market conditions. On a quarterly basis, a sensitivity analysis is performed on our marketability discount. | ||||||||||||||||||||||||||||||||||||
-3 | We adjust the contractual remaining term of private company warrants based on our estimate of the actual remaining life, which we determine by utilizing historical data on cancellations and exercises. At September 30, 2013, the weighted average contractual remaining term was 6.5 years, compared to our estimated remaining life of 2.9 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. | ||||||||||||||||||||||||||||||||||||
For the three and nine months ended September 30, 2013 and 2012, we did not have any material transfers between Level 2 and Level 1. Transfers from Level 3 to Level 2 for the three and nine months ended September 30, 2013 included $0.3 million and $2.4 million, respectively, as a result of the expiration of lockup and other restrictions on certain of our equity warrant assets. Transfers from Level 3 to Level 1 for the nine months ended September 30, 2012 include $3.6 million as a result of the expiration of lockup and other restrictions on certain of our other venture capital investments. All transfers from Level 3 to Level 2 for the three and nine months ended September 30, 2013 and 2012 were due to the transfer of equity warrant assets from our private portfolio to our public portfolio (see our Level 3 reconciliation above). All amounts reported as transfers represent the fair value as of the date of the change in circumstances that caused the transfer. | |||||||||||||||||||||||||||||||||||||
Financial Instruments not Carried at Fair Value | |||||||||||||||||||||||||||||||||||||
FASB guidance over financial instruments requires that we disclose estimated fair values for our financial instruments not carried at fair value. Fair value estimates, methods and assumptions, set forth below for our financial instruments, are made solely to comply with these requirements. | |||||||||||||||||||||||||||||||||||||
Fair values are based on estimates or calculations at the transaction level using present value techniques in instances where quoted market prices are not available. Because broadly traded markets do not exist for many of our financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. The aggregation of the fair value calculations presented herein does not represent, and should not be construed to represent, the underlying value of the Company. | |||||||||||||||||||||||||||||||||||||
The following describes the methods and assumptions used in estimating the fair values of financial instruments, excluding financial instruments already recorded at fair value as described above. | |||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents include cash on hand, cash balances due from banks, interest-earning deposits, securities purchased under agreements to resell and other short-term investment securities. The carrying amount is a reasonable estimate of fair value because of the insignificant risk of changes in fair value due to changes in market interest rates, and the instruments are purchased in conjunction with our cash management activities. | |||||||||||||||||||||||||||||||||||||
Non-Marketable Securities (Cost and Equity Method Accounting) | |||||||||||||||||||||||||||||||||||||
Non-marketable securities includes other investments (equity method accounting), low income housing tax credit funds (equity method accounting), venture capital and private equity fund investments (cost method accounting), and other venture capital investments (cost method accounting). Other investments (equity method accounting) include our investment in SPD Silicon Valley Bank ("SPD-SVB"), our joint venture bank in China. At this time, the carrying value of our investment in SPD-SVB is a reasonable estimate of fair value. The fair value of the remaining other investments (equity method accounting) and the fair value of venture capital and private equity fund investments (cost method accounting) and other venture capital investments (cost method accounting) is based on financial information obtained from the investee or obtained from the fund investments’ or debt fund investments’ respective general partners. For private company investments, estimated fair value is based on consideration of a range of factors including, but not limited to, the price at which the investment was acquired, the term and nature of the investment, local market conditions, values for comparable securities, current and projected operating performance, exit strategies, and financing transactions subsequent to the acquisition of the investment. For our fund investments, we utilize the net asset value per share as obtained from the general partners of the investments. We adjust the net asset value per share for differences between our measurement date and the date of the fund investment’s net asset value by using the most recently available financial information from the investee general partner, for example June 30th for our September 30th consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period. The carrying value of our low income housing tax credit funds (equity method accounting) is a reasonable estimate of fair value. | |||||||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||||||
The fair value of fixed and variable rate loans is estimated by discounting contractual cash flows using rates that reflect current pricing for similar loans and the projected forward yield curve. This method is not based on the exit price concept of fair value required under ASC 820, Fair Value Measurements and Disclosures. | |||||||||||||||||||||||||||||||||||||
FHLB and Federal Reserve Bank Stock | |||||||||||||||||||||||||||||||||||||
Investments in FHLB and Federal Reserve Bank stock are recorded at cost. The carrying amounts of these investments are reasonable estimates of fair value because the securities are restricted to member banks and they do not have a readily determinable market value. | |||||||||||||||||||||||||||||||||||||
Accrued Interest Receivable and Payable | |||||||||||||||||||||||||||||||||||||
The carrying amounts of accrued interest receivable and payable are reasonable estimates of fair value due to the short-term nature of these balances. | |||||||||||||||||||||||||||||||||||||
Deposits | |||||||||||||||||||||||||||||||||||||
The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits is equal to the amount payable on demand at the measurement date. The fair value of time deposits is estimated by discounting the cash flows using our cost of borrowings and the projected forward yield curve over their remaining contractual term. | |||||||||||||||||||||||||||||||||||||
Short-Term Borrowings | |||||||||||||||||||||||||||||||||||||
Short-term borrowings at both September 30, 2013 and December 31, 2012 included cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes. Short term-borrowings at December 31, 2012 also included federal funds purchased. The carrying amount of our federal funds purchased is a reasonable estimate of fair value because of the relatively short time between the origination of the instrument and its contractual maturity. The carrying amount of the cash collateral is a reasonable estimate of fair value. | |||||||||||||||||||||||||||||||||||||
Long-Term Debt | |||||||||||||||||||||||||||||||||||||
Long-term debt at September 30, 2013 and December 31, 2012 included our 5.375% Senior Notes, 7.0% Junior Subordinated Debentures and 6.05% Subordinated Notes. The fair value of long-term debt is generally based on quoted market prices, when available, or is estimated based on calculations utilizing third-party pricing services and current market spread, price indications from reputable dealers or observable market prices of the underlying instrument(s), whichever is deemed more reliable. Also included in the estimated fair value of our 6.05% Subordinated Notes are amounts related to hedge accounting associated with the note. | |||||||||||||||||||||||||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||||||||||||||||||||||
The fair value of net available commitments to extend credit is estimated based on the average amount we would receive or pay to execute a new agreement with identical terms and pricing, while taking into account the counterparties’ credit standing. | |||||||||||||||||||||||||||||||||||||
Letters of credit are carried at their fair value, which was equivalent to the residual premium or fee at September 30, 2013 and December 31, 2012. Commitments to extend credit and letters of credit typically result in loans with a market interest rate if funded. | |||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents the estimated fair values of our financial instruments that are not carried at fair value at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,942,744 | $ | 1,942,744 | $ | — | $ | — | |||||||||||||||||||||||||||||
Non-marketable and other securities (cost and equity method accounting) | 379,601 | — | — | 442,620 | |||||||||||||||||||||||||||||||||
Net commercial loans | 8,780,870 | — | — | 8,906,145 | |||||||||||||||||||||||||||||||||
Net consumer loans | 919,378 | — | — | 989,546 | |||||||||||||||||||||||||||||||||
FHLB and Federal Reserve Bank stock | 40,532 | — | — | 40,532 | |||||||||||||||||||||||||||||||||
Accrued interest receivable | 64,902 | — | 64,902 | — | |||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||
Other short-term borrowings | 5,580 | 5,580 | — | — | |||||||||||||||||||||||||||||||||
Non-maturity deposits (1) | 19,822,370 | 19,822,370 | — | — | |||||||||||||||||||||||||||||||||
Time deposits | 174,620 | — | 174,658 | — | |||||||||||||||||||||||||||||||||
5.375% Senior Notes | 348,155 | — | 384,139 | — | |||||||||||||||||||||||||||||||||
6.05% Subordinated Notes (2) | 52,524 | — | 57,646 | — | |||||||||||||||||||||||||||||||||
7.0% Junior Subordinated Debentures | 55,065 | — | 53,761 | — | |||||||||||||||||||||||||||||||||
Accrued interest payable | 2,046 | — | 2,046 | — | |||||||||||||||||||||||||||||||||
Off-balance sheet financial assets: | |||||||||||||||||||||||||||||||||||||
Commitments to extend credit | — | — | — | 23,568 | |||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,008,983 | $ | 1,008,983 | $ | — | $ | — | |||||||||||||||||||||||||||||
Non-marketable and other securities (cost and equity method accounting) | 391,253 | — | — | 425,741 | |||||||||||||||||||||||||||||||||
Net commercial loans | 8,013,563 | — | — | 8,180,597 | |||||||||||||||||||||||||||||||||
Net consumer loans | 822,719 | — | — | 860,772 | |||||||||||||||||||||||||||||||||
FHLB and Federal Reserve Bank stock | 39,806 | — | — | 39,806 | |||||||||||||||||||||||||||||||||
Accrued interest receivable | 64,167 | — | 64,167 | — | |||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||
Federal funds purchased | 160,000 | 160,000 | — | — | |||||||||||||||||||||||||||||||||
Other short-term borrowings | 6,110 | 6,110 | — | — | |||||||||||||||||||||||||||||||||
Non-maturity deposits (1) | 19,021,264 | 19,021,264 | — | — | |||||||||||||||||||||||||||||||||
Time deposits | 155,188 | — | 155,027 | — | |||||||||||||||||||||||||||||||||
5.375% Senior Notes | 347,995 | — | 393,701 | — | |||||||||||||||||||||||||||||||||
6.05% Subordinated Notes (2) | 54,571 | — | 61,639 | — | |||||||||||||||||||||||||||||||||
7.0% Junior Subordinated Debentures | 55,196 | — | 51,959 | — | |||||||||||||||||||||||||||||||||
Accrued interest payable | 6,494 | — | 6,494 | — | |||||||||||||||||||||||||||||||||
Off-balance sheet financial assets: | |||||||||||||||||||||||||||||||||||||
Commitments to extend credit | — | — | — | 20,562 | |||||||||||||||||||||||||||||||||
-1 | Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. | ||||||||||||||||||||||||||||||||||||
-2 | At September 30, 2013 and December 31, 2012, included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. | ||||||||||||||||||||||||||||||||||||
Investments in Entities that Calculate Net Asset Value Per Share | |||||||||||||||||||||||||||||||||||||
FASB guidance over certain fund investments requires that we disclose the fair value of funds, significant investment strategies of the investees, redemption features of the investees, restrictions on the ability to sell investments, estimate of the period of time over which the underlying assets are expected to be liquidated by the investee, and unfunded commitments related to the investments. | |||||||||||||||||||||||||||||||||||||
Our investments in debt funds and venture capital and private equity fund investments generally cannot be redeemed. Alternatively, we expect distributions, if any, to be received primarily through IPOs and M&A activity of the underlying assets of the fund. We currently do not have any plans to sell any of these fund investments. If we decide to sell these investments in the future, the investee fund’s management must approve of the buyer before the sale of the investments can be completed. The fair values of the fund investments have been estimated using the net asset value per share of the investments, adjusted for any differences between our measurement date and the date of the fund investment’s net asset value by using the most recently available financial information from the investee general partner, for example June 30th, for our September 30th consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period. | |||||||||||||||||||||||||||||||||||||
The following table is a summary of the estimated fair values of these investments and remaining unfunded commitments for each major category of these investments as of September 30, 2013: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Fair Value | Unfunded | ||||||||||||||||||||||||||||||||||
Commitments | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (1) | $ | 773,499 | $ | 773,499 | $ | 434,754 | |||||||||||||||||||||||||||||||
Non-marketable and other securities (equity method accounting): | |||||||||||||||||||||||||||||||||||||
Other investments (2) | 52,265 | 53,766 | 15,436 | ||||||||||||||||||||||||||||||||||
Non-marketable and other securities (cost method accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (3) | 149,602 | 206,254 | 39,765 | ||||||||||||||||||||||||||||||||||
Total | $ | 975,366 | $ | 1,033,519 | $ | 489,955 | |||||||||||||||||||||||||||||||
-1 | Venture capital and private equity fund investments within non-marketable securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds. These investments represent investments in venture capital and private equity funds that invest primarily in U.S. and global technology and life sciences companies. Included in the fair value and unfunded commitments of fund investments under fair value accounting are $700 million and $428 million, respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. | ||||||||||||||||||||||||||||||||||||
-2 | Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds. | ||||||||||||||||||||||||||||||||||||
-3 | Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Legal_Matters
Legal Matters | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Legal Matters | ' |
Legal Matters | |
Certain lawsuits and claims arising in the ordinary course of business have been filed or are pending against us or our affiliates. In accordance with applicable accounting guidance, we establish accruals for all lawsuits, claims and expected settlements when we believe it is probable that a loss has been incurred and the amount of the loss is reasonably estimable. When a loss contingency is not both probable and estimable, we do not establish an accrual. Any such loss estimates are inherently uncertain, based on currently available information and are subject to management’s judgment and various assumptions. Due to the inherent subjectivity of these estimates and unpredictability of outcomes of legal proceedings, any amounts accrued may not represent the ultimate resolution of such matters. | |
To the extent we believe any potential loss relating to such lawsuits and claims may have a material impact on our liquidity, consolidated financial position, results of operations, and/or our business as a whole and is reasonably possible but not probable, we disclose information relating to any such potential loss, whether in excess of any established accruals or where there is no established accrual. We also disclose information relating to any material potential loss that is probable but not reasonably estimable. Where reasonably practicable, we will provide an estimate of loss or range of potential loss. No disclosures are generally made for any loss contingencies that are deemed to be remote. | |
Based upon information available to us, our review of lawsuits and claims filed or pending against us to date and consultation with our outside legal counsel, we have not recognized a material accrual liability for these matters, nor do we currently expect it is reasonably possible that these matters will result in a material liability to the Company. However, the outcome of litigation and other legal and regulatory matters is inherently uncertain, and it is possible that one or more of such matters currently pending or threatened could have an unanticipated material adverse effect on our liquidity, consolidated financial position, results of operations, and/or our business as a whole, in the future. |
Related_Parties
Related Parties | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Parties | ' |
Related Parties | |
SVB Financial has commitments under two partially-syndicated revolving line of credit facilities totaling $85 million to Gold Hill Capital 2008 LP, a venture debt fund, and Gold Hill Venture Lending 2008 LP, for which SVB Financial has ownership interests in each of the funds. Of the $85 million, $27 million is syndicated to another lender. SVB Financial has an 11.5 percent direct ownership interest and a 4.0 percent indirect ownership interest in Gold Hill Capital 08 LP through our 83.8 percent interest in its general partner, Gold Hill Capital 08, LLC. The line of credit is secured and bears an interest rate of national Prime plus one percent. The highest outstanding balance under SVB Financial's portion of the facility for the nine months ended September 30, 2013 was $38 million. SVB Financial's portion of the outstanding balance was $38 million at September 30, 2013, compared to $31 million at December 31, 2012. | |
During the nine months ended September 30, 2013, the Bank made loans to related parties, including certain companies in which certain of our directors or their affiliated venture funds are beneficial owners of ten percent or more of the equity securities of such companies. Such loans: (a) were made in the ordinary course of business; (b) were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other non-related persons; and (c) did not involve more than the normal risk of collectability or present other unfavorable features. Additionally, we also provide real estate secured loans to eligible employees through our EHOP. |
Stockholders_Equity_and_EPS_Ta
Stockholders' Equity and EPS (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Equity and Earnings Per Share [Abstract] | ' | ||||||||||||||||||
Reconciliation of Basic EPS to Diluted EPS | ' | ||||||||||||||||||
The following is a reconciliation of basic EPS to diluted EPS for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Dollars and shares in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Numerator: | |||||||||||||||||||
Net income available to common stockholders | $ | 67,621 | $ | 42,289 | $ | 157,096 | $ | 124,682 | |||||||||||
Denominator: | |||||||||||||||||||
Weighted average common shares outstanding-basic | 45,580 | 44,449 | 45,180 | 44,147 | |||||||||||||||
Weighted average effect of dilutive securities: | |||||||||||||||||||
Stock options and ESPP | 429 | 346 | 405 | 402 | |||||||||||||||
Restricted stock units | 193 | 120 | 180 | 143 | |||||||||||||||
Denominator for diluted calculation | 46,202 | 44,915 | 45,765 | 44,692 | |||||||||||||||
Earnings per common share: | |||||||||||||||||||
Basic | $ | 1.48 | $ | 0.95 | $ | 3.48 | $ | 2.82 | |||||||||||
Diluted | $ | 1.46 | $ | 0.94 | $ | 3.43 | $ | 2.79 | |||||||||||
Common Shares Excluded from Diluted EPS Calculation as They Were Deemed to be Anti-Dilutive | ' | ||||||||||||||||||
The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation as they were deemed to be antidilutive for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Shares in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||
Stock options | 343 | 795 | 546 | 658 | |||||||||||||||
Restricted stock units | — | 220 | 1 | — | |||||||||||||||
Total | 343 | 1,015 | 547 | 658 | |||||||||||||||
Reclassifications out of AOCI | ' | ||||||||||||||||||
The following table summarizes the items reclassified out of accumulated other comprehensive (loss) income into the Consolidated Statements of Income (unaudited) for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||
(Dollars in thousands) | Income Statement Location | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Reclassification adjustment for (gains) losses included in net income | Gains on investment securities, net | $ | (219 | ) | $ | 101 | $ | (949 | ) | $ | (3,592 | ) | |||||||
Related tax benefit (expense) | Income tax expense | 85 | (41 | ) | 363 | 1,421 | |||||||||||||
Total reclassification adjustment for gains included in net income, net of tax | $ | (134 | ) | $ | 60 | $ | (586 | ) | $ | (2,171 | ) | ||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Share Based Compensation and Related Benefits | ' | ||||||||||||||||
For the three and nine months ended September 30, 2013 and 2012, we recorded share-based compensation and related tax benefits as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Share-based compensation expense | $ | 6,723 | $ | 5,617 | $ | 18,945 | $ | 16,594 | |||||||||
Income tax benefit related to share-based compensation expense | (2,243 | ) | (1,720 | ) | (5,801 | ) | (4,408 | ) | |||||||||
Unrecognized Share Based Compensation Expense | ' | ||||||||||||||||
As of September 30, 2013, unrecognized share-based compensation expense was as follows: | |||||||||||||||||
(Dollars in thousands) | Unrecognized | Average | |||||||||||||||
Expense | Expected | ||||||||||||||||
Recognition | |||||||||||||||||
Period - in Years | |||||||||||||||||
Stock options | $ | 17,195 | 2.67 | ||||||||||||||
Restricted stock units | 34,357 | 2.72 | |||||||||||||||
Total unrecognized share-based compensation expense | $ | 51,552 | |||||||||||||||
Stock Option Information Related to Equity Incentive Plan | ' | ||||||||||||||||
The table below provides stock option information related to the 2006 Equity Incentive Plan for the nine months ended September 30, 2013: | |||||||||||||||||
Options | Weighted | Weighted | Aggregate | ||||||||||||||
Average | Average | Intrinsic Value | |||||||||||||||
Exercise Price | Remaining | of In-The- | |||||||||||||||
Contractual | Money | ||||||||||||||||
Life in Years | Options | ||||||||||||||||
Outstanding at December 31, 2012 | 2,060,413 | $ | 49.15 | ||||||||||||||
Granted | 311,692 | 71.54 | |||||||||||||||
Exercised | (661,216 | ) | 45.97 | ||||||||||||||
Forfeited | (44,330 | ) | 55.85 | ||||||||||||||
Expired | (953 | ) | 51.86 | ||||||||||||||
Outstanding at September 30, 2013 | 1,665,606 | 54.42 | 4.33 years | $ | 53,233,391 | ||||||||||||
Vested and expected to vest at September 30, 2013 | 1,610,512 | 54.02 | 4.28 years | 52,113,576 | |||||||||||||
Exercisable at September 30, 2013 | 789,760 | 44.89 | 3.15 years | 32,761,622 | |||||||||||||
Information for Restricted Stock Units under Equity Incentive Plan | ' | ||||||||||||||||
The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2013: | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average | |||||||||||||||||
Grant Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Nonvested at December 31, 2012 | 585,543 | $ | 59.42 | ||||||||||||||
Granted | 328,245 | 71.52 | |||||||||||||||
Vested | (166,617 | ) | 56.41 | ||||||||||||||
Forfeited | (34,351 | ) | 61.35 | ||||||||||||||
Nonvested at September 30, 2013 | 712,820 | 65.6 | |||||||||||||||
Cash_and_Cash_Equivalents_Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Cash and Cash Equivalents [Abstract] | ' | ||||||||
Cash and Cash Equivalents | ' | ||||||||
The following table details our cash and cash equivalents at September 30, 2013 and December 31, 2012: | |||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||
Cash and due from banks (1) | $ | 1,770,123 | $ | 752,056 | |||||
Securities purchased under agreements to resell (2) | 168,026 | 133,357 | |||||||
Other short-term investment securities | 4,595 | 123,570 | |||||||
Total cash and cash equivalents | $ | 1,942,744 | $ | 1,008,983 | |||||
-1 | At September 30, 2013 and December 31, 2012, $1.2 billion and $72 million, respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were $222 million and $283 million, respectively. | ||||||||
-2 | At September 30, 2013 and December 31, 2012, securities purchased under agreements to resell were collateralized by U.S. treasury securities and U.S. agency securities with aggregate fair values of $171 million and $136 million, respectively. None of these securities received as collateral were sold or repledged as of September 30, 2013 or December 31, 2012. |
Investment_Securities_Tables
Investment Securities (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Major Components of Investment Securities Portfolio | ' | |||||||||||||||||||||||||||||||||||
The major components of our investment securities portfolio at September 30, 2013 and December 31, 2012 are as follows: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amortized | Unrealized | Unrealized | Carrying | Amortized | Unrealized | Unrealized | Carrying | ||||||||||||||||||||||||||||
Cost | Gains | Losses | Value | Cost | Gains | Losses | Value | |||||||||||||||||||||||||||||
Available-for-sale securities, at fair value: | ||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | — | $ | — | $ | — | $ | 25,057 | $ | 190 | $ | — | $ | 25,247 | ||||||||||||||||||||
U.S. agency debentures | 3,602,585 | 46,412 | (24,177 | ) | 3,624,820 | 3,370,455 | 77,173 | — | 3,447,628 | |||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 1,493,666 | 28,013 | (2,981 | ) | 1,518,698 | 1,428,682 | 44,858 | (107 | ) | 1,473,433 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 3,269,966 | 21,699 | (44,188 | ) | 3,247,477 | 4,063,020 | 41,949 | (995 | ) | 4,103,974 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | 1,286,547 | 3,452 | (149 | ) | 1,289,850 | 1,760,551 | 12,201 | (4 | ) | 1,772,748 | ||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 445,336 | 1,381 | (10,785 | ) | 435,932 | 416,487 | 6,100 | (489 | ) | 422,098 | ||||||||||||||||||||||||||
Municipal bonds and notes | 82,039 | 4,540 | — | 86,579 | 85,790 | 7,750 | (11 | ) | 93,529 | |||||||||||||||||||||||||||
Equity securities | 6,722 | 807 | (968 | ) | 6,561 | 2,108 | 2,739 | (327 | ) | 4,520 | ||||||||||||||||||||||||||
Total available-for-sale securities | $ | 10,186,861 | $ | 106,304 | $ | (83,248 | ) | $ | 10,209,917 | $ | 11,152,150 | $ | 192,960 | $ | (1,933 | ) | $ | 11,343,177 | ||||||||||||||||||
Non-marketable and other securities: | ||||||||||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (1) | 773,499 | 665,921 | ||||||||||||||||||||||||||||||||||
Other venture capital investments (2) | 55,359 | 127,091 | ||||||||||||||||||||||||||||||||||
Other securities (fair value accounting) (3) | 219,600 | — | ||||||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments (4) | 142,571 | 139,330 | ||||||||||||||||||||||||||||||||||
Low income housing tax credit funds | 70,092 | 70,318 | ||||||||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (5) | 149,602 | 161,884 | ||||||||||||||||||||||||||||||||||
Other investments | 14,415 | 19,721 | ||||||||||||||||||||||||||||||||||
Total non-marketable and other securities | 1,425,138 | 1,184,265 | ||||||||||||||||||||||||||||||||||
Total investment securities | $ | 11,635,055 | $ | 12,527,442 | ||||||||||||||||||||||||||||||||
-1 | The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund, LP | $ | 30,265 | 12.6 | % | $ | 32,850 | 12.6 | % | ||||||||||||||||||||||||||||
SVB Strategic Investors Fund II, LP | 96,595 | 8.6 | 91,294 | 8.6 | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund III, LP | 226,123 | 5.9 | 209,696 | 5.9 | ||||||||||||||||||||||||||||||||
SVB Strategic Investors Fund IV, LP | 209,368 | 5 | 169,931 | 5 | ||||||||||||||||||||||||||||||||
Strategic Investors Fund V Funds | 89,410 | Various | 40,622 | Various | ||||||||||||||||||||||||||||||||
Strategic Investors Fund VI Funds | 4,681 | 0.2 | — | — | ||||||||||||||||||||||||||||||||
SVB Capital Preferred Return Fund, LP | 55,721 | 20 | 53,643 | 20 | ||||||||||||||||||||||||||||||||
SVB Capital—NT Growth Partners, LP | 55,836 | 33 | 60,120 | 33 | ||||||||||||||||||||||||||||||||
SVB Capital Partners II, LP (i) | 716 | 5.1 | 1,303 | 5.1 | ||||||||||||||||||||||||||||||||
Other private equity fund (ii) | 4,784 | 58.2 | 6,462 | 58.2 | ||||||||||||||||||||||||||||||||
Total venture capital and private equity fund investments | $ | 773,499 | $ | 665,921 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||
(ii) | At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||||||||||||||||||||||||||||||||||
-2 | The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
Silicon Valley BancVentures, LP | $ | 7,383 | 10.7 | % | $ | 43,493 | 10.7 | % | ||||||||||||||||||||||||||||
SVB Capital Partners II, LP (i) | 43,682 | 5.1 | 79,761 | 5.1 | ||||||||||||||||||||||||||||||||
SVB Capital Shanghai Yangpu Venture Capital Fund | 4,294 | 6.8 | 3,837 | 6.8 | ||||||||||||||||||||||||||||||||
Total other venture capital investments | $ | 55,359 | $ | 127,091 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||
-3 | Investments classified as other securities (fair value accounting) represent certain direct equity investments in public companies held by our consolidated funds. | |||||||||||||||||||||||||||||||||||
-4 | The following table shows the carrying value and our ownership percentage of each investment at September 30, 2013 and December 31, 2012 (equity method accounting): | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Amount | Ownership % | Amount | Ownership % | ||||||||||||||||||||||||||||||||
Gold Hill Venture Lending 03, LP (i) | $ | 8,734 | 9.3 | % | $ | 9,413 | 9.3 | % | ||||||||||||||||||||||||||||
Gold Hill Capital 2008, LP (ii) | 21,318 | 15.5 | 20,893 | 15.5 | ||||||||||||||||||||||||||||||||
China Joint Venture investment | 80,346 | 50 | 78,545 | 50 | ||||||||||||||||||||||||||||||||
Other investments | 32,173 | Various | 30,479 | Various | ||||||||||||||||||||||||||||||||
Total other investments (equity method accounting) | $ | 142,571 | $ | 139,330 | ||||||||||||||||||||||||||||||||
(i) | At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLC”) of 4.5 percent. | |||||||||||||||||||||||||||||||||||
(ii) | At September 30, 2013, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent. | |||||||||||||||||||||||||||||||||||
-5 | Represents investments in 293 and 324 funds (primarily venture capital funds) at September 30, 2013 and December 31, 2012, respectively, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. For the three months ended September 30, 2013, we recognized OTTI losses of $0.4 million resulting from other-than-temporary declines in value for 12 of the 293 investments. For the nine months ended September 30, 2013, we recognized OTTI losses of $1.2 million resulting from other-than-temporary declines in value for 37 of the investments. The OTTI losses are included in net gains on investment securities, a component of noninterest income. We concluded that any declines in value for the remaining investments were temporary and as such, no OTTI was required to be recognized. At September 30, 2013, the carrying value of these venture capital and private equity fund investments (cost method accounting) was $150 million, and the estimated fair value was $206 million. | |||||||||||||||||||||||||||||||||||
Summary of Unrealized Losses on Available for Sale Securities | ' | |||||||||||||||||||||||||||||||||||
The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of September 30, 2013: | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair Value of | Unrealized | Fair Value of | Unrealized | Fair Value of | Unrealized | ||||||||||||||||||||||||||||||
Investments | Losses | Investments | Losses | Investments | Losses | |||||||||||||||||||||||||||||||
U.S. agency debentures | $ | 942,337 | $ | (24,177 | ) | $ | — | $ | — | $ | 942,337 | $ | (24,177 | ) | ||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 261,787 | (2,981 | ) | — | — | 261,787 | (2,981 | ) | ||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 1,886,229 | (42,555 | ) | 79,190 | (1,633 | ) | 1,965,419 | (44,188 | ) | |||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | 147,218 | (149 | ) | — | — | 147,218 | (149 | ) | ||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 232,474 | (10,785 | ) | — | — | 232,474 | (10,785 | ) | ||||||||||||||||||||||||||||
Equity securities | 2,544 | (968 | ) | — | — | 2,544 | (968 | ) | ||||||||||||||||||||||||||||
Total temporarily impaired securities (1) | $ | 3,472,589 | $ | (81,615 | ) | $ | 79,190 | $ | (1,633 | ) | $ | 3,551,779 | $ | (83,248 | ) | |||||||||||||||||||||
-1 | As of September 30, 2013, we identified a total of 134 investments that were in unrealized loss positions, of which 3 investments totaling $79 million with unrealized losses of $1.6 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2013, we do not intend to sell any impaired debt or equity securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis. Based on our analysis as of September 30, 2013, we deem all impairments to be temporary, and therefore changes in value for our temporarily impaired securities as of the same date are included in other comprehensive income. Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis. | |||||||||||||||||||||||||||||||||||
The following table summarizes our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months and 12 months or longer as of December 31, 2012: | ||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair Value of | Unrealized | Fair Value of | Unrealized | Fair Value of | Unrealized | ||||||||||||||||||||||||||||||
Investments | Losses | Investments | Losses | Investments | Losses | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | $ | 22,831 | $ | (107 | ) | $ | — | $ | — | $ | 22,831 | $ | (107 | ) | ||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—fixed rate | 461,397 | (995 | ) | — | — | 461,397 | (995 | ) | ||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations—variable rate | — | — | 7,908 | (4 | ) | 7,908 | (4 | ) | ||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 150,581 | (489 | ) | — | — | 150,581 | (489 | ) | ||||||||||||||||||||||||||||
Municipal bonds and notes | 2,098 | (11 | ) | — | — | 2,098 | (11 | ) | ||||||||||||||||||||||||||||
Equity securities | 97 | (61 | ) | 255 | (266 | ) | 352 | (327 | ) | |||||||||||||||||||||||||||
Total temporarily impaired securities | $ | 637,004 | $ | (1,663 | ) | $ | 8,163 | $ | (270 | ) | $ | 645,167 | $ | (1,933 | ) | |||||||||||||||||||||
Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Debt Securities Classified as Available for Sale | ' | |||||||||||||||||||||||||||||||||||
The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on debt securities classified as available-for-sale as of September 30, 2013. Interest income on certain municipal bonds and notes (non-taxable investments) are presented on a fully taxable equivalent basis using the federal statutory tax rate of 35.0 percent. The weighted average yield is computed using the amortized cost of debt securities, which are reported at fair value. For U.S. treasury securities, the expected maturity is the actual contractual maturity of the notes. Expected remaining maturities for certain U.S. agency debentures may occur earlier than their contractual maturities because the note issuers have the right to call outstanding amounts ahead of their contractual maturity. Expected maturities for mortgage-backed securities may differ significantly from their contractual maturities because mortgage borrowers have the right to prepay outstanding loan obligations with or without penalties. Mortgage-backed securities classified as available-for-sale typically have original contractual maturities from 10 to 30 years whereas expected average lives of these securities tend to be significantly shorter and vary based upon structure. | ||||||||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||||||||
Total | One Year | After One | After Five | After | ||||||||||||||||||||||||||||||||
or Less | Year to | Years to | Ten Years | |||||||||||||||||||||||||||||||||
Five Years | Ten Years | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | Carrying | Weighted- | ||||||||||||||||||||||||||
Value | Average | Value | Average | Value | Average | Value | Average | Value | Average | |||||||||||||||||||||||||||
Yield | Yield | Yield | Yield | Yield | ||||||||||||||||||||||||||||||||
U.S. agency debentures | $ | 3,624,820 | 1.56 | % | $ | 248,124 | 1.34 | % | $ | 2,607,969 | 1.49 | % | $ | 768,727 | 1.87 | % | $ | — | — | % | ||||||||||||||||
Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | 1,518,698 | 2.38 | — | — | 889 | 7.5 | 1,024,091 | 2.25 | 493,718 | 2.63 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | 3,247,477 | 1.9 | — | — | — | — | — | — | 3,247,477 | 1.9 | ||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | 1,289,850 | 0.7 | — | — | — | — | — | — | 1,289,850 | 0.7 | ||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | 435,932 | 1.92 | — | — | — | — | — | — | 435,932 | 1.92 | ||||||||||||||||||||||||||
Municipal bonds and notes | 86,579 | 5.98 | 1,334 | 5.44 | 23,498 | 5.69 | 43,304 | 6.03 | 18,443 | 6.26 | ||||||||||||||||||||||||||
Total | $ | 10,203,356 | 1.74 | $ | 249,458 | 1.36 | $ | 2,632,356 | 1.53 | $ | 1,836,122 | 2.18 | $ | 5,485,420 | 1.7 | |||||||||||||||||||||
Components of Gains and Losses (Realized and Unrealized) on Investment Securities | ' | |||||||||||||||||||||||||||||||||||
The following table presents the components of gains and losses (realized and unrealized) on investment securities for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||||
Gross gains on investment securities: | ||||||||||||||||||||||||||||||||||||
Available-for-sale securities, at fair value (1) | $ | 317 | $ | 20 | $ | 3,167 | $ | 5,363 | ||||||||||||||||||||||||||||
Marketable securities (fair value accounting) | — | 255 | 4,345 | 3,874 | ||||||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | 35,826 | 28,639 | 107,546 | 88,037 | ||||||||||||||||||||||||||||||||
Other venture capital investments | 5,180 | 2,515 | 8,020 | 5,848 | ||||||||||||||||||||||||||||||||
Other investments | — | — | — | 21 | ||||||||||||||||||||||||||||||||
Other securities (fair value accounting) (2) | 143,840 | — | 143,840 | — | ||||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments | 6,569 | 5,571 | 14,038 | 12,382 | ||||||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | 5,016 | 694 | 6,806 | 1,639 | ||||||||||||||||||||||||||||||||
Other investments | 34 | 1,406 | 370 | 1,712 | ||||||||||||||||||||||||||||||||
Total gross gains on investment securities | 196,782 | 39,100 | 288,132 | 118,876 | ||||||||||||||||||||||||||||||||
Gross losses on investment securities: | ||||||||||||||||||||||||||||||||||||
Available-for-sale securities, at fair value (1) | (98 | ) | (121 | ) | (2,218 | ) | (1,771 | ) | ||||||||||||||||||||||||||||
Marketable securities (fair value accounting) | — | (553 | ) | (2,534 | ) | (1,307 | ) | |||||||||||||||||||||||||||||
Non-marketable securities (fair value accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | (1,575 | ) | (16,557 | ) | (17,020 | ) | (49,090 | ) | ||||||||||||||||||||||||||||
Other venture capital investments | (587 | ) | (125 | ) | (2,241 | ) | (10,007 | ) | ||||||||||||||||||||||||||||
Other securities (fair value accounting) | (75 | ) | — | (75 | ) | — | ||||||||||||||||||||||||||||||
Non-marketable securities (equity method accounting): | ||||||||||||||||||||||||||||||||||||
Other investments | (1,944 | ) | (1,091 | ) | (2,421 | ) | (1,794 | ) | ||||||||||||||||||||||||||||
Non-marketable securities (cost method accounting): | ||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | (689 | ) | (423 | ) | (1,462 | ) | (963 | ) | ||||||||||||||||||||||||||||
Other investments | (3,952 | ) | (2 | ) | (4,300 | ) | (68 | ) | ||||||||||||||||||||||||||||
Total gross losses on investment securities | (8,920 | ) | (18,872 | ) | (32,271 | ) | (65,000 | ) | ||||||||||||||||||||||||||||
Gains on investment securities, net | $ | 187,862 | $ | 20,228 | $ | 255,861 | $ | 53,876 | ||||||||||||||||||||||||||||
Gains attributable to noncontrolling interests, including carried interest | $ | 151,360 | $ | 12,776 | $ | 204,723 | $ | 34,616 | ||||||||||||||||||||||||||||
-1 | Includes realized gains on sales of available-for-sale securities that are recognized in the income statement. Unrealized gains on available-for-sale securities are recognized in other comprehensive income and not shown in the table above. The cost basis of available-for-sale securities sold is determined on a specific identification basis. | |||||||||||||||||||||||||||||||||||
-2 | Other securities (fair value accounting) include unrealized valuation gains of $139 million attributable to one of our portfolio companies, FireEye, Inc. ("FireEye), after its IPO. |
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Loans and Allowance for Loan Losses | ' | ||||||||||||||||||||||||
The composition of loans, net of unearned income of $89 million and $77 million at September 30, 2013 and December 31, 2012, respectively, is presented in the following table: | |||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,698,937 | $ | 3,261,489 | |||||||||||||||||||||
Hardware | 1,141,297 | 1,118,370 | |||||||||||||||||||||||
Venture capital/private equity | 1,932,822 | 1,732,699 | |||||||||||||||||||||||
Life science | 1,096,440 | 1,066,199 | |||||||||||||||||||||||
Premium wine | 149,257 | 143,511 | |||||||||||||||||||||||
Other | 287,352 | 315,453 | |||||||||||||||||||||||
Total commercial loans | 8,306,105 | 7,637,721 | |||||||||||||||||||||||
Real estate secured loans: | |||||||||||||||||||||||||
Premium wine (1) | 492,677 | 413,513 | |||||||||||||||||||||||
Consumer (2) | 831,644 | 685,300 | |||||||||||||||||||||||
Other | 28,233 | — | |||||||||||||||||||||||
Total real estate secured loans | 1,352,554 | 1,098,813 | |||||||||||||||||||||||
Construction loans | 72,398 | 65,742 | |||||||||||||||||||||||
Consumer loans | 93,925 | 144,657 | |||||||||||||||||||||||
Total loans, net of unearned income (3) | $ | 9,824,982 | $ | 8,946,933 | |||||||||||||||||||||
-1 | Included in our premium wine portfolio are gross construction loans of $132 million and $148 million at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
-2 | Consumer loans secured by real estate at September 30, 2013 and December 31, 2012 were comprised of the following: | ||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Loans for personal residence | $ | 643,345 | $ | 503,378 | |||||||||||||||||||||
Loans to eligible employees | 119,371 | 110,584 | |||||||||||||||||||||||
Home equity lines of credit | 68,928 | 71,338 | |||||||||||||||||||||||
Consumer loans secured by real estate | $ | 831,644 | $ | 685,300 | |||||||||||||||||||||
-3 | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||||
Composition of Loans, Net of Unearned Income, Broken Out by Portfolio Segment and Class of Financing Receivable | ' | ||||||||||||||||||||||||
The composition of loans, net of unearned income of $89 million and $77 million at September 30, 2013 and December 31, 2012, respectively, broken out by portfolio segment and class of financing receivable, is as follows: | |||||||||||||||||||||||||
(Dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,698,937 | $ | 3,261,489 | |||||||||||||||||||||
Hardware | 1,141,297 | 1,118,370 | |||||||||||||||||||||||
Venture capital/private equity | 1,932,822 | 1,732,699 | |||||||||||||||||||||||
Life science | 1,096,440 | 1,066,199 | |||||||||||||||||||||||
Premium wine | 641,934 | 557,024 | |||||||||||||||||||||||
Other | 387,983 | 381,195 | |||||||||||||||||||||||
Total commercial loans | 8,899,413 | 8,116,976 | |||||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 831,644 | 685,300 | |||||||||||||||||||||||
Other consumer loans | 93,925 | 144,657 | |||||||||||||||||||||||
Total consumer loans | 925,569 | 829,957 | |||||||||||||||||||||||
Total loans, net of unearned income | $ | 9,824,982 | $ | 8,946,933 | |||||||||||||||||||||
Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable | ' | ||||||||||||||||||||||||
The following table summarizes the aging of our gross loans, broken out by portfolio segment and class of financing receivable as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | 30 - 59 | 60 - 89 | Greater | Total Past | Current | Loans Past Due | |||||||||||||||||||
Days Past | Days Past | Than 90 | Due | 90 Days or | |||||||||||||||||||||
Due | Due | Days Past | More Still | ||||||||||||||||||||||
Due | Accruing | ||||||||||||||||||||||||
Interest | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 1,546 | $ | 171 | $ | 24 | $ | 1,741 | $ | 3,733,358 | $ | 24 | |||||||||||||
Hardware | 29 | 643 | — | 672 | 1,125,277 | — | |||||||||||||||||||
Venture capital/private equity | 4 | — | — | 4 | 1,953,111 | — | |||||||||||||||||||
Life science | 153 | 249 | — | 402 | 1,107,659 | — | |||||||||||||||||||
Premium wine | 2,400 | — | — | 2,400 | 640,741 | — | |||||||||||||||||||
Other | 71 | 97 | — | 168 | 389,145 | — | |||||||||||||||||||
Total commercial loans | 4,203 | 1,160 | 24 | 5,387 | 8,949,291 | 24 | |||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | — | 828,401 | — | |||||||||||||||||||
Other consumer loans | — | — | — | — | 93,072 | — | |||||||||||||||||||
Total consumer loans | — | — | — | — | 921,473 | — | |||||||||||||||||||
Total gross loans excluding impaired loans | 4,203 | 1,160 | 24 | 5,387 | 9,870,764 | 24 | |||||||||||||||||||
Impaired loans | 91 | — | 5,678 | 5,769 | 32,279 | — | |||||||||||||||||||
Total gross loans | $ | 4,294 | $ | 1,160 | $ | 5,702 | $ | 11,156 | $ | 9,903,043 | $ | 24 | |||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 5,890 | $ | 238 | $ | 19 | $ | 6,147 | $ | 3,284,489 | $ | 19 | |||||||||||||
Hardware | 167 | 32 | — | 199 | 1,107,422 | — | |||||||||||||||||||
Venture capital/private equity | 7 | — | — | 7 | 1,749,896 | — | |||||||||||||||||||
Life science | 207 | 117 | — | 324 | 1,076,468 | — | |||||||||||||||||||
Premium wine | — | — | — | — | 554,886 | — | |||||||||||||||||||
Other | 280 | — | — | 280 | 378,619 | — | |||||||||||||||||||
Total commercial loans | 6,551 | 387 | 19 | 6,957 | 8,151,780 | 19 | |||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | — | 683,254 | — | |||||||||||||||||||
Other consumer loans | 111 | — | — | 111 | 143,867 | — | |||||||||||||||||||
Total consumer loans | 111 | — | — | 111 | 827,121 | — | |||||||||||||||||||
Total gross loans excluding impaired loans | 6,662 | 387 | 19 | 7,068 | 8,978,901 | 19 | |||||||||||||||||||
Impaired loans | 3,901 | 9,676 | 2,269 | 15,846 | 22,433 | — | |||||||||||||||||||
Total gross loans | $ | 10,563 | $ | 10,063 | $ | 2,288 | $ | 22,914 | $ | 9,001,334 | $ | 19 | |||||||||||||
Impaired Loans and Allowance for Loan Losses, Broken out by Portfolio Segment and Class of Financing Receivable | ' | ||||||||||||||||||||||||
The following table summarizes our impaired loans as they relate to our allowance for loan losses, broken out by portfolio segment and class of financing receivable as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | Impaired loans for | Impaired loans for | Total carrying value of impaired loans | Total unpaid | |||||||||||||||||||||
which there is a | which there is no | principal of impaired loans (1) | |||||||||||||||||||||||
related allowance | related allowance | ||||||||||||||||||||||||
for loan losses | for loan losses | ||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,041 | $ | — | $ | 3,041 | $ | 4,185 | |||||||||||||||||
Hardware | 25,891 | 1,555 | 27,446 | 46,744 | |||||||||||||||||||||
Venture capital/private equity | 47 | — | 47 | 47 | |||||||||||||||||||||
Premium wine | — | 1,476 | 1,476 | 1,786 | |||||||||||||||||||||
Other | 734 | 1,154 | 1,888 | 2,560 | |||||||||||||||||||||
Total commercial loans | 29,713 | 4,185 | 33,898 | 55,322 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | 3,339 | 3,339 | 9,256 | |||||||||||||||||||||
Other consumer loans | 811 | — | 811 | 1,065 | |||||||||||||||||||||
Total consumer loans | 811 | 3,339 | 4,150 | 10,321 | |||||||||||||||||||||
Total | $ | 30,524 | $ | 7,524 | $ | 38,048 | $ | 65,643 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,191 | $ | 72 | $ | 3,263 | $ | 4,475 | |||||||||||||||||
Hardware | 21,863 | — | 21,863 | 38,551 | |||||||||||||||||||||
Venture capital/private equity | — | — | — | — | |||||||||||||||||||||
Premium wine | — | 4,398 | 4,398 | 4,716 | |||||||||||||||||||||
Other | — | 5,415 | 5,415 | 9,859 | |||||||||||||||||||||
Total commercial loans | 25,054 | 9,885 | 34,939 | 57,601 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | 2,239 | 2,239 | 7,341 | |||||||||||||||||||||
Other consumer loans | 1,101 | — | 1,101 | 1,300 | |||||||||||||||||||||
Total consumer loans | 1,101 | 2,239 | 3,340 | 8,641 | |||||||||||||||||||||
Total | $ | 26,155 | $ | 12,124 | $ | 38,279 | $ | 66,242 | |||||||||||||||||
-1 | The unpaid principal balances for hardware and real estate secured consumer loans as of December 31, 2012 have been corrected from previously reported amounts resulting in the total unpaid principal of impaired loans at December 31, 2012 changing from $55.4 million to $66.2 million. | ||||||||||||||||||||||||
Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable | ' | ||||||||||||||||||||||||
The following table summarizes our average impaired loans, broken out by portfolio segment and class of financing receivable for the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Average impaired loans: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 4,306 | $ | 2,689 | $ | 4,631 | $ | 2,040 | |||||||||||||||||
Hardware | 25,456 | 18,490 | 24,536 | 17,407 | |||||||||||||||||||||
Venture capital/private equity | 75 | — | 35 | — | |||||||||||||||||||||
Life science | — | — | 303 | 78 | |||||||||||||||||||||
Premium wine | 1,502 | 3,093 | 2,458 | 3,334 | |||||||||||||||||||||
Other | 3,648 | 2,619 | 4,344 | 3,590 | |||||||||||||||||||||
Total commercial loans | 34,987 | 26,891 | 36,307 | 26,449 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 3,426 | 2,411 | 3,391 | 5,967 | |||||||||||||||||||||
Other consumer loans | 866 | 1,266 | 1,021 | 2,152 | |||||||||||||||||||||
Total consumer loans | 4,292 | 3,677 | 4,412 | 8,119 | |||||||||||||||||||||
Total average impaired loans | $ | 39,279 | $ | 30,568 | $ | 40,719 | $ | 34,568 | |||||||||||||||||
Activity in Allowance for Loan Losses Broken out by Portfolio Segment | ' | ||||||||||||||||||||||||
The following tables summarize the activity relating to our allowance for loan losses for the three and nine months ended September 30, 2013 and 2012, broken out by portfolio segment: | |||||||||||||||||||||||||
Three months ended September 30, 2013 (dollars in thousands) | Beginning Balance June 30, 2013 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2013 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 46,798 | $ | (2,527 | ) | $ | 816 | $ | 4,369 | $ | 49,456 | ||||||||||||||
Hardware | 33,188 | (5,544 | ) | 1,149 | 7,370 | 36,163 | |||||||||||||||||||
Venture capital/private equity | 13,593 | — | — | 617 | 14,210 | ||||||||||||||||||||
Life science | 11,741 | (57 | ) | 246 | (780 | ) | 11,150 | ||||||||||||||||||
Premium wine | 3,793 | — | 4 | 81 | 3,878 | ||||||||||||||||||||
Other | 3,654 | (21 | ) | 77 | (24 | ) | 3,686 | ||||||||||||||||||
Total commercial loans | 112,767 | (8,149 | ) | 2,292 | 11,633 | 118,543 | |||||||||||||||||||
Consumer loans | 6,804 | — | 382 | (995 | ) | 6,191 | |||||||||||||||||||
Total allowance for loan losses | $ | 119,571 | $ | (8,149 | ) | $ | 2,674 | $ | 10,638 | $ | 124,734 | ||||||||||||||
Nine months ended September 30, 2013 (dollars in thousands) | Beginning Balance December 31, 2012 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2013 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 42,648 | $ | (7,619 | ) | $ | 1,455 | $ | 12,972 | $ | 49,456 | ||||||||||||||
Hardware | 29,761 | (11,975 | ) | 1,998 | 16,379 | 36,163 | |||||||||||||||||||
Venture capital/private equity | 9,963 | — | — | 4,247 | 14,210 | ||||||||||||||||||||
Life science | 13,606 | (2,618 | ) | 1,335 | (1,173 | ) | 11,150 | ||||||||||||||||||
Premium wine | 3,523 | — | 135 | 220 | 3,878 | ||||||||||||||||||||
Other | 3,912 | (6,069 | ) | 2,458 | 3,385 | 3,686 | |||||||||||||||||||
Total commercial loans | 103,413 | (28,281 | ) | 7,381 | 36,030 | 118,543 | |||||||||||||||||||
Consumer loans | 7,238 | (869 | ) | 829 | (1,007 | ) | 6,191 | ||||||||||||||||||
Total allowance for loan losses | $ | 110,651 | $ | (29,150 | ) | $ | 8,210 | $ | 35,023 | $ | 124,734 | ||||||||||||||
Three months ended September 30, 2012 (dollars in thousands) | Beginning Balance June 30, 2012 | Charge-offs | Recoveries | Provision for(Reduction of) | Ending Balance September 30, 2012 | ||||||||||||||||||||
Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 37,981 | $ | — | $ | 374 | $ | (1,110 | ) | $ | 37,245 | ||||||||||||||
Hardware | 22,632 | (1,849 | ) | 106 | 6,796 | 27,685 | |||||||||||||||||||
Venture capital/private equity | 9,652 | — | — | 991 | 10,643 | ||||||||||||||||||||
Life science | 11,660 | (2,781 | ) | 3 | 3,281 | 12,163 | |||||||||||||||||||
Premium wine | 3,396 | — | 228 | (463 | ) | 3,161 | |||||||||||||||||||
Other | 4,942 | (7 | ) | 30 | (1,708 | ) | 3,257 | ||||||||||||||||||
Total commercial loans | 90,263 | (4,637 | ) | 741 | 7,787 | 94,154 | |||||||||||||||||||
Consumer loans | 7,903 | — | 466 | (999 | ) | 7,370 | |||||||||||||||||||
Total allowance for loan losses | $ | 98,166 | $ | (4,637 | ) | $ | 1,207 | $ | 6,788 | $ | 101,524 | ||||||||||||||
Nine months ended September 30, 2012 (dollars in thousands) | Beginning Balance December 31, 2011 | Charge-offs | Recoveries | Provision for | Ending Balance September 30, 2012 | ||||||||||||||||||||
(Reduction of) Loan Losses | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 38,263 | $ | (2,977 | ) | $ | 4,462 | $ | (2,503 | ) | $ | 37,245 | |||||||||||||
Hardware | 16,810 | (16,110 | ) | 540 | 26,445 | 27,685 | |||||||||||||||||||
Venture capital/private equity | 7,319 | — | — | 3,324 | 10,643 | ||||||||||||||||||||
Life science | 10,243 | (3,016 | ) | 316 | 4,620 | 12,163 | |||||||||||||||||||
Premium wine | 3,914 | (584 | ) | 493 | (662 | ) | 3,161 | ||||||||||||||||||
Other | 5,817 | (2,463 | ) | 1,181 | (1,278 | ) | 3,257 | ||||||||||||||||||
Total commercial loans | 82,366 | (25,150 | ) | 6,992 | 29,946 | 94,154 | |||||||||||||||||||
Consumer loans | 7,581 | (607 | ) | 1,026 | (630 | ) | 7,370 | ||||||||||||||||||
Total allowance for loan losses | $ | 89,947 | $ | (25,757 | ) | $ | 8,018 | $ | 29,316 | $ | 101,524 | ||||||||||||||
Allowance for Loan Losses Individually and Collectively Evaluated for Impairment | ' | ||||||||||||||||||||||||
The following table summarizes the allowance for loan losses individually and collectively evaluated for impairment as of September 30, 2013 and December 31, 2012, broken out by portfolio segment: | |||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
(Dollars in thousands) | Individually Evaluated for | Collectively Evaluated for | Individually | Collectively | |||||||||||||||||||||
Impairment | Impairment | Evaluated for | Evaluated for | ||||||||||||||||||||||
Impairment | Impairment | ||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 705 | $ | 48,751 | $ | 762 | $ | 41,886 | |||||||||||||||||
Hardware | 12,392 | 23,771 | 5,251 | 24,510 | |||||||||||||||||||||
Venture capital/private equity | 23 | 14,187 | — | 9,963 | |||||||||||||||||||||
Life science | — | 11,150 | — | 13,606 | |||||||||||||||||||||
Premium wine | — | 3,878 | — | 3,523 | |||||||||||||||||||||
Other | 162 | 3,524 | — | 3,912 | |||||||||||||||||||||
Total commercial loans | 13,282 | 105,261 | 6,013 | 97,400 | |||||||||||||||||||||
Consumer loans | 187 | 6,004 | 248 | 6,990 | |||||||||||||||||||||
Total allowance for loan losses | $ | 13,469 | $ | 111,265 | $ | 6,261 | $ | 104,390 | |||||||||||||||||
Credit Quality Indicators, Broken out by Portfolio Segment and Class of Financing Receivables | ' | ||||||||||||||||||||||||
The following table summarizes the credit quality indicators, broken out by portfolio segment and class of financing receivables as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | Pass | Performing | Impaired | Total | |||||||||||||||||||||
(Criticized) | |||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,442,540 | $ | 292,560 | $ | 3,041 | $ | 3,738,141 | |||||||||||||||||
Hardware | 904,312 | 221,635 | 27,446 | 1,153,393 | |||||||||||||||||||||
Venture capital/private equity | 1,952,680 | 434 | 47 | 1,953,161 | |||||||||||||||||||||
Life science | 1,019,522 | 88,539 | — | 1,108,061 | |||||||||||||||||||||
Premium wine | 632,438 | 10,704 | 1,476 | 644,618 | |||||||||||||||||||||
Other | 366,533 | 22,780 | 1,888 | 391,201 | |||||||||||||||||||||
Total commercial loans | 8,318,025 | 636,652 | 33,898 | 8,988,575 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 822,148 | 6,252 | 3,339 | 831,739 | |||||||||||||||||||||
Other consumer loans | 89,036 | 4,038 | 811 | 93,885 | |||||||||||||||||||||
Total consumer loans | 911,184 | 10,290 | 4,150 | 925,624 | |||||||||||||||||||||
Total gross loans | $ | 9,229,209 | $ | 646,942 | $ | 38,048 | $ | 9,914,199 | |||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 3,050,449 | $ | 240,187 | $ | 3,263 | $ | 3,293,899 | |||||||||||||||||
Hardware | 970,802 | 136,819 | 21,863 | 1,129,484 | |||||||||||||||||||||
Venture capital/private equity | 1,748,663 | 1,240 | — | 1,749,903 | |||||||||||||||||||||
Life science | 956,276 | 120,516 | — | 1,076,792 | |||||||||||||||||||||
Premium wine | 545,697 | 9,189 | 4,398 | 559,284 | |||||||||||||||||||||
Other | 360,291 | 18,608 | 5,415 | 384,314 | |||||||||||||||||||||
Total commercial loans | 7,632,178 | 526,559 | 34,939 | 8,193,676 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 663,911 | 19,343 | 2,239 | 685,493 | |||||||||||||||||||||
Other consumer loans | 132,818 | 11,160 | 1,101 | 145,079 | |||||||||||||||||||||
Total consumer loans | 796,729 | 30,503 | 3,340 | 830,572 | |||||||||||||||||||||
Total gross loans | $ | 8,428,907 | $ | 557,062 | $ | 38,279 | $ | 9,024,248 | |||||||||||||||||
Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables | ' | ||||||||||||||||||||||||
The following table summarizes our loans modified in TDRs, broken out by portfolio segment and class of financing receivables at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||
(Dollars in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||||
Loans modified in TDRs: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 2,205 | $ | 2,021 | |||||||||||||||||||||
Hardware | 21,284 | 20,514 | |||||||||||||||||||||||
Venture capital/ private equity | 88 | — | |||||||||||||||||||||||
Premium wine | 1,476 | 2,593 | |||||||||||||||||||||||
Other | 2,283 | 5,900 | |||||||||||||||||||||||
Total commercial loans | 27,336 | 31,028 | |||||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | 1,126 | 2,199 | |||||||||||||||||||||||
Other consumer loans | 811 | 1,101 | |||||||||||||||||||||||
Total consumer loans | 1,937 | 3,300 | |||||||||||||||||||||||
Total | $ | 29,273 | $ | 34,328 | |||||||||||||||||||||
Recorded Investment in Loans Modified in TDRs | ' | ||||||||||||||||||||||||
The following table summarizes the recorded investment in loans modified in TDRs, broken out by portfolio segment and class of financing receivable, for modifications made during the three and nine months ended September 30, 2013 and 2012: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
Loans modified in TDRs during the period: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | 1,007 | $ | 1,969 | $ | 1,007 | $ | 1,969 | |||||||||||||||||
Hardware | 6,330 | — | 7,783 | 11,677 | |||||||||||||||||||||
Venture capital/ private equity | — | — | 88 | — | |||||||||||||||||||||
Premium wine | — | — | — | 156 | |||||||||||||||||||||
Other | — | — | 734 | 2,237 | |||||||||||||||||||||
Total commercial loans | 7,337 | 1,969 | 9,612 | 16,039 | |||||||||||||||||||||
Consumer loans: | |||||||||||||||||||||||||
Real estate secured loans | — | — | — | 392 | |||||||||||||||||||||
Other consumer loans | — | — | 41 | — | |||||||||||||||||||||
Total consumer loans | — | — | 41 | 392 | |||||||||||||||||||||
Total loans modified in TDR’s during the period (1) | $ | 7,337 | $ | 1,969 | $ | 9,653 | $ | 16,431 | |||||||||||||||||
-1 | There were partial charge-offs of $1.2 million and $2.4 million on loans classified as TDRs for the three and nine months ended September 30, 2013, respectively. There were partial charge-offs of $1.1 million and $11.0 million, respectively, on loans classified as TDRs during the three and nine months ended September 30, 2012. | ||||||||||||||||||||||||
Recorded Investment in Loans Modified in TDRs within Previous 12 months Subsequently Defaulted | ' | ||||||||||||||||||||||||
The following table summarizes the recorded investment in loans modified in TDRs within the previous 12 months that subsequently defaulted during the three and nine months ended September 30, 2013 and 2012, broken out by portfolio segment and class of financing receivable: | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
TDRs modified within the previous 12 months that defaulted during the period: | |||||||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||||
Software | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||
Hardware | — | 515 | — | 515 | |||||||||||||||||||||
Premium wine | — | — | — | — | |||||||||||||||||||||
Other | — | — | |||||||||||||||||||||||
Total commercial loans | — | 515 | — | 515 | |||||||||||||||||||||
Consumer loans | — | 120 | 41 | 120 | |||||||||||||||||||||
Total TDRs modified within the previous 12 months that defaulted in the period | $ | — | $ | 635 | $ | 41 | $ | 635 | |||||||||||||||||
ShortTerm_Borrowings_and_LongT1
Short-Term Borrowings and Long-Term Debt (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||
Outstanding Short Term Borrowings and Long Term Debt | ' | ||||||||||||||
The following table represents outstanding short-term borrowings and long-term debt at September 30, 2013 and December 31, 2012: | |||||||||||||||
Carrying Value | |||||||||||||||
(Dollars in thousands) | Maturity | Principal value at September 30, 2013 | September 30, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||||
Short-term borrowings: | |||||||||||||||
Federal funds purchased | — | — | — | 160,000 | |||||||||||
Other short-term borrowings | -1 | 5,580 | 5,580 | 6,110 | |||||||||||
Total short-term borrowings | $ | 5,580 | $ | 166,110 | |||||||||||
Long-term debt: | |||||||||||||||
5.375% Senior Notes | 15-Sep-20 | $ | 350,000 | $ | 348,155 | $ | 347,995 | ||||||||
6.05% Subordinated Notes (2) | June 1, 2017 | 45,964 | 52,524 | 54,571 | |||||||||||
7.0% Junior Subordinated Debentures | October 15, 2033 | 50,000 | 55,065 | 55,196 | |||||||||||
Total long-term debt | $ | 455,744 | $ | 457,762 | |||||||||||
-1 | Represents cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes. | ||||||||||||||
-2 | At September 30, 2013 and December 31, 2012, included in the carrying value of our 6.05% Subordinated Notes were $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||||
Total Notional or Contractual Amounts, Fair Value, Collateral and Net Exposure of Derivative Financial Instruments | ' | ||||||||||||||||||||||||||||||||||
The total notional or contractual amounts, fair value, collateral and net exposure of our derivative financial instruments at September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Balance Sheet | Notional or | Fair Value | Collateral | Net | Notional or | Fair Value | Collateral | Net | ||||||||||||||||||||||||||
Location | Contractual | -1 | Exposure | Contractual | -1 | Exposure | |||||||||||||||||||||||||||||
Amount | -2 | Amount | -2 | ||||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Interest rate risks: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | Other assets | $ | 45,964 | $ | 7,027 | $ | 5,580 | $ | 1,447 | $ | 45,964 | $ | 9,005 | $ | 6,110 | $ | 2,895 | ||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Currency exchange risks: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | Other assets | 13,685 | 789 | — | 789 | 51,010 | 488 | — | 488 | ||||||||||||||||||||||||||
Foreign exchange forwards | Other liabilities | 208,712 | (754 | ) | — | (754 | ) | 102,956 | (1,728 | ) | — | (1,728 | ) | ||||||||||||||||||||||
Net exposure | 35 | — | 35 | (1,240 | ) | — | (1,240 | ) | |||||||||||||||||||||||||||
Other derivative instruments: | |||||||||||||||||||||||||||||||||||
Equity warrant assets | Other assets | 180,861 | 92,252 | — | 92,252 | 164,332 | 74,272 | — | 74,272 | ||||||||||||||||||||||||||
Other derivatives: | |||||||||||||||||||||||||||||||||||
Client foreign exchange forwards | Other assets | 459,501 | 17,492 | — | 17,492 | 385,470 | 11,864 | — | 11,864 | ||||||||||||||||||||||||||
Client foreign exchange forwards | Other liabilities | 482,755 | (16,073 | ) | — | (16,073 | ) | 356,026 | (9,930 | ) | — | (9,930 | ) | ||||||||||||||||||||||
Client foreign currency options | Other assets | 80,400 | 182 | — | 182 | 132,237 | 1,189 | — | 1,189 | ||||||||||||||||||||||||||
Client foreign currency options | Other liabilities | 80,400 | (182 | ) | — | (182 | ) | 132,237 | (1,189 | ) | — | (1,189 | ) | ||||||||||||||||||||||
Loan conversion options | Other assets | 8,877 | 1,774 | — | 1,774 | 9,782 | 890 | — | 890 | ||||||||||||||||||||||||||
Client interest rate derivatives | Other assets | 185,770 | 1,237 | — | 1,237 | 144,950 | 558 | — | 558 | ||||||||||||||||||||||||||
Client interest rate derivatives | Other liabilities | 185,770 | (1,427 | ) | — | (1,427 | ) | 144,950 | (590 | ) | — | (590 | ) | ||||||||||||||||||||||
Net exposure | 3,003 | — | 3,003 | 2,792 | — | 2,792 | |||||||||||||||||||||||||||||
Net | $ | 102,317 | $ | 5,580 | $ | 96,737 | $ | 84,829 | $ | 6,110 | $ | 78,719 | |||||||||||||||||||||||
-1 | Cash collateral received from our counterparty for our interest rate swap agreement is recorded as a component of “short-term borrowings” on our consolidated balance sheets. | ||||||||||||||||||||||||||||||||||
-2 | Net exposure for contracts in a gain position reflects the replacement cost in the event of nonperformance by all such counterparties. The credit ratings of our institutional counterparties as of September 30, 2013 remain at investment grade or higher and there were no material changes in their credit ratings during the three and nine months ended September 30, 2013. | ||||||||||||||||||||||||||||||||||
Summary of Derivative Activity and Related Impact on Consolidated Statements of Income | ' | ||||||||||||||||||||||||||||||||||
A summary of our derivative activity and the related impact on our consolidated statements of income for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Statement of income location | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Derivatives designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Interest rate risks: | |||||||||||||||||||||||||||||||||||
Net cash benefit associated with interest rate swaps | Interest expense—borrowings | $ | 634 | $ | 612 | $ | 1,901 | $ | 4,537 | ||||||||||||||||||||||||||
Changes in fair value of interest rate swaps | Net gains on derivative instruments | (7 | ) | 74 | 20 | 571 | |||||||||||||||||||||||||||||
Net gains associated with interest rate risk derivatives | $ | 627 | $ | 686 | $ | 1,921 | $ | 5,108 | |||||||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||||||||||||||
Currency exchange risks: | |||||||||||||||||||||||||||||||||||
Gains on revaluations of foreign currency instruments | Other noninterest income | $ | 8,101 | $ | 1,578 | $ | 451 | $ | 96 | ||||||||||||||||||||||||||
(Losses) gains on internal foreign exchange forward contracts, net | Net gains on derivative instruments | (8,423 | ) | 220 | (1,511 | ) | 1,162 | ||||||||||||||||||||||||||||
Net (losses) gains associated with currency risk | $ | (322 | ) | $ | 1,798 | $ | (1,060 | ) | $ | 1,258 | |||||||||||||||||||||||||
Other derivative instruments: | |||||||||||||||||||||||||||||||||||
Gains on equity warrant assets | Net gains on derivative instruments | $ | 18,780 | $ | 547 | $ | 29,475 | $ | 12,358 | ||||||||||||||||||||||||||
Gains on client foreign exchange forward contracts, net | Net gains on derivative instruments | $ | 369 | $ | 607 | $ | 2,179 | $ | 3,002 | ||||||||||||||||||||||||||
Net (losses) gains on other derivatives (1) | Net gains on derivative instruments | $ | (517 | ) | $ | (337 | ) | $ | 55 | $ | (1,293 | ) | |||||||||||||||||||||||
-1 | Primarily represents the change in fair value of loan conversion options. | ||||||||||||||||||||||||||||||||||
Offsetting Assets | ' | ||||||||||||||||||||||||||||||||||
The following table summarizes our assets subject to enforceable master netting arrangements as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts of Recognized Assets | Gross Amounts offset in the Statement of Financial Position | Net Amounts of Assets Presented in the Statement of Financial Position | Financial Instruments | Cash Collateral Received | Net Amount | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 7,027 | $ | — | $ | 7,027 | $ | (1,447 | ) | $ | (5,580 | ) | $ | — | |||||||||||||||||||||
Foreign exchange forwards | 18,281 | — | 18,281 | (4,777 | ) | — | 13,504 | ||||||||||||||||||||||||||||
Foreign currency options | 225 | (43 | ) | 182 | (11 | ) | — | 171 | |||||||||||||||||||||||||||
Client interest rate derivatives | 1,237 | — | 1,237 | (60 | ) | — | 1,177 | ||||||||||||||||||||||||||||
Total derivative assets: | 26,770 | (43 | ) | 26,727 | (6,295 | ) | (5,580 | ) | 14,852 | ||||||||||||||||||||||||||
Reverse repurchase, securities borrowing, and similar arrangements | 168,026 | — | 168,026 | (168,026 | ) | — | — | ||||||||||||||||||||||||||||
Total | $ | 194,796 | $ | (43 | ) | $ | 194,753 | $ | (174,321 | ) | $ | (5,580 | ) | $ | 14,852 | ||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Derivative Assets: | |||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | 9,005 | $ | — | $ | 9,005 | $ | (2,895 | ) | $ | (6,110 | ) | $ | — | |||||||||||||||||||||
Foreign exchange forwards | 12,352 | — | 12,352 | (7,363 | ) | — | 4,989 | ||||||||||||||||||||||||||||
Foreign currency options | 1,411 | (222 | ) | 1,189 | (556 | ) | — | 633 | |||||||||||||||||||||||||||
Client interest rate derivatives | 558 | — | 558 | (24 | ) | — | 534 | ||||||||||||||||||||||||||||
Total derivative assets: | 23,326 | (222 | ) | 23,104 | (10,838 | ) | (6,110 | ) | 6,156 | ||||||||||||||||||||||||||
Reverse repurchase, securities borrowing, and similar arrangements | 133,357 | — | 133,357 | (133,357 | ) | — | — | ||||||||||||||||||||||||||||
Total | $ | 156,683 | $ | (222 | ) | $ | 156,461 | $ | (144,195 | ) | $ | (6,110 | ) | $ | 6,156 | ||||||||||||||||||||
Offsetting Liabilities | ' | ||||||||||||||||||||||||||||||||||
The following table summarizes our liabilities subject to enforceable master netting arrangements as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||
Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements | |||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Gross Amounts of Recognized Liabilities | Gross Amounts offset in the Statement of Financial Position | Net Amounts of Liabilities Presented in the Statement of Financial Position | Financial Instruments | Cash Collateral Pledged | Net Amount | |||||||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | $ | 16,827 | $ | — | $ | 16,827 | $ | (13,964 | ) | $ | — | $ | 2,863 | ||||||||||||||||||||||
Foreign currency options | 225 | (43 | ) | 182 | (171 | ) | — | 11 | |||||||||||||||||||||||||||
Client interest rate derivatives | 1,427 | — | 1,427 | (1,362 | ) | — | 65 | ||||||||||||||||||||||||||||
Total derivative liabilities: | 18,479 | (43 | ) | 18,436 | (15,497 | ) | — | 2,939 | |||||||||||||||||||||||||||
Repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 18,479 | $ | (43 | ) | $ | 18,436 | $ | (15,497 | ) | $ | — | $ | 2,939 | |||||||||||||||||||||
31-Dec-12 | |||||||||||||||||||||||||||||||||||
Derivative Liabilities: | |||||||||||||||||||||||||||||||||||
Foreign exchange forwards | $ | 11,658 | $ | — | $ | 11,658 | $ | (5,720 | ) | $ | — | $ | 5,938 | ||||||||||||||||||||||
Foreign currency options | 1,411 | (222 | ) | 1,189 | (633 | ) | — | 556 | |||||||||||||||||||||||||||
Client interest rate derivatives | 590 | — | 590 | (567 | ) | — | 23 | ||||||||||||||||||||||||||||
Total derivative assets: | 13,659 | (222 | ) | 13,437 | (6,920 | ) | — | 6,517 | |||||||||||||||||||||||||||
Repurchase, securities lending, and similar arrangements | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total | $ | 13,659 | $ | (222 | ) | $ | 13,437 | $ | (6,920 | ) | $ | — | $ | 6,517 | |||||||||||||||||||||
Other_Noninterest_Income_and_O1
Other Noninterest Income and Other Noninterest Expense (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income and Expenses [Abstract] | ' | ||||||||||||||||
Summary of Other Noninterest Income | ' | ||||||||||||||||
A summary of other noninterest income for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Unused commitment fees | $ | 3,735 | $ | 2,579 | $ | 10,582 | $ | 9,312 | |||||||||
Fund management fees | 2,822 | 2,496 | 8,531 | 8,448 | |||||||||||||
Service-based fee income (1) | 1,901 | 1,651 | 5,706 | 6,197 | |||||||||||||
Net gains on the sale of certain assets related to our equity management services business | — | — | — | 4,243 | |||||||||||||
Loan syndication fees | 1,102 | 1,353 | 1,852 | 2,853 | |||||||||||||
Gains on revaluation of foreign currency instruments (2) | 8,101 | 1,578 | 451 | 96 | |||||||||||||
Currency revaluation (losses) gains (3) | (32 | ) | 845 | (7 | ) | (88 | ) | ||||||||||
Other | 4,797 | 2,921 | 11,068 | 8,104 | |||||||||||||
Total other noninterest income | $ | 22,426 | $ | 13,423 | $ | 38,183 | $ | 39,165 | |||||||||
-1 | Includes income from SVB Analytics. | ||||||||||||||||
-2 | Represents the revaluation of foreign currency denominated financial instruments issued and held by us, primarily loans, deposits and cash. | ||||||||||||||||
-3 | Primarily represents the revaluation of foreign currency denominated investments in certain funds. Included in these amounts are losses of $0.1 million and gains of $0.1 million for the three and nine months ended September 30, 2013, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. This compares to gains of $0.8 million and losses of $3.0 thousand for the comparable 2012 periods. | ||||||||||||||||
Summary of Other Noninterest Expense | ' | ||||||||||||||||
A summary of other noninterest expense for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Telephone | $ | 1,571 | $ | 1,619 | $ | 4,640 | $ | 4,950 | |||||||||
Client services | 1,920 | 1,804 | 5,711 | 4,796 | |||||||||||||
Data processing services | 2,020 | 1,575 | 5,814 | 4,290 | |||||||||||||
Tax credit fund amortization | 1,519 | 941 | 4,174 | 2,961 | |||||||||||||
Postage and supplies | 559 | 591 | 1,777 | 1,844 | |||||||||||||
Dues and publications | 399 | 472 | 1,302 | 1,503 | |||||||||||||
Other | 2,661 | 1,961 | 6,855 | 5,844 | |||||||||||||
Total other noninterest expense | $ | 10,649 | $ | 8,963 | $ | 30,273 | $ | 26,188 | |||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||
Segment Reporting | ' | ||||||||||||||||||||
Our segment information for the three and nine months ended September 30, 2013 and 2012 is as follows: | |||||||||||||||||||||
(Dollars in thousands) | Global | SVB Private | SVB Capital (1) | Other Items | Total | ||||||||||||||||
Commercial | Bank | ||||||||||||||||||||
Bank (1) | |||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||
Net interest income | $ | 162,781 | $ | 6,195 | $ | 1 | $ | 8,119 | $ | 177,096 | |||||||||||
Provision for loan losses | (11,633 | ) | 995 | — | — | (10,638 | ) | ||||||||||||||
Noninterest income | 50,814 | 380 | 35,457 | 170,999 | 257,650 | ||||||||||||||||
Noninterest expense (2) | (109,088 | ) | (3,960 | ) | (2,728 | ) | (44,748 | ) | (160,524 | ) | |||||||||||
Income before income tax expense (3) | $ | 92,874 | $ | 3,610 | $ | 32,730 | $ | 134,370 | $ | 263,584 | |||||||||||
Total average loans, net of unearned income | $ | 8,683,784 | $ | 942,411 | $ | — | $ | (80,254 | ) | $ | 9,545,941 | ||||||||||
Total average assets (4) | 21,331,760 | 1,002,718 | 329,680 | 408,576 | 23,072,734 | ||||||||||||||||
Total average deposits | 18,994,576 | 535,611 | — | 29,701 | 19,559,888 | ||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||
Net interest income (loss) | $ | 151,858 | $ | 5,666 | $ | 6 | $ | (3,100 | ) | $ | 154,430 | ||||||||||
(Provision for) reduction of loan losses | (7,787 | ) | 999 | — | — | (6,788 | ) | ||||||||||||||
Noninterest income | 46,965 | 149 | 4,330 | 17,695 | 69,139 | ||||||||||||||||
Noninterest expense (2) | (98,064 | ) | (3,603 | ) | (3,562 | ) | (29,942 | ) | (135,171 | ) | |||||||||||
Income (loss) before income tax expense (3) | $ | 92,972 | $ | 3,211 | $ | 774 | $ | (15,347 | ) | $ | 81,610 | ||||||||||
Total average loans, net of unearned income | $ | 7,159,609 | $ | 755,001 | $ | — | $ | (7,004 | ) | $ | 7,907,606 | ||||||||||
Total average assets (4) | 19,860,340 | 758,988 | 238,595 | 869,274 | 21,727,197 | ||||||||||||||||
Total average deposits | 17,881,175 | 341,537 | — | 37,632 | 18,260,344 | ||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||
Net interest income | $ | 466,303 | $ | 18,226 | $ | 5 | $ | 25,812 | $ | 510,346 | |||||||||||
(Provision for) reduction of loan losses | (36,030 | ) | 1,007 | — | — | (35,023 | ) | ||||||||||||||
Noninterest income | 145,716 | 867 | 48,179 | 239,731 | 434,493 | ||||||||||||||||
Noninterest expense (2) | (316,949 | ) | (10,882 | ) | (7,871 | ) | (117,128 | ) | (452,830 | ) | |||||||||||
Income (loss) before income tax expense (3) | $ | 259,040 | $ | 9,218 | $ | 40,313 | $ | 148,415 | $ | 456,986 | |||||||||||
Total average loans, net of unearned income | $ | 8,274,380 | $ | 886,679 | $ | — | $ | (74,880 | ) | $ | 9,086,179 | ||||||||||
Total average assets (4) | 20,723,037 | 914,515 | 277,136 | 581,404 | 22,496,092 | ||||||||||||||||
Total average deposits | 18,480,757 | 493,204 | — | 15,399 | 18,989,360 | ||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||
Net interest income | $ | 441,542 | $ | 16,147 | $ | 22 | $ | (410 | ) | $ | 457,301 | ||||||||||
Provision for loan losses | (29,946 | ) | 630 | — | — | (29,316 | ) | ||||||||||||||
Noninterest income | 139,387 | 457 | 12,474 | 56,540 | 208,858 | ||||||||||||||||
Noninterest expense (2) | (293,193 | ) | (9,952 | ) | (8,970 | ) | (90,834 | ) | (402,949 | ) | |||||||||||
Income before income tax expense (3) | $ | 257,790 | $ | 7,282 | $ | 3,526 | $ | (34,704 | ) | $ | 233,894 | ||||||||||
Total average loans, net of unearned income | $ | 6,559,036 | $ | 745,069 | $ | — | $ | 14,432 | $ | 7,318,537 | |||||||||||
Total average assets (4) | 19,149,134 | 749,500 | 243,124 | 811,283 | 20,953,041 | ||||||||||||||||
Total average deposits | 17,240,715 | 278,736 | — | 27,743 | 17,547,194 | ||||||||||||||||
-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. | ||||||||||||||||||||
-2 | The Global Commercial Bank segment includes direct depreciation and amortization of $5.6 million and $4.5 million for the three months ended September 30, 2013 and 2012, respectively, and $16.0 million and $11.6 million for the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||||||
-3 | 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. | ||||||||||||||||||||
-4 | Total average assets equals the greater of total average assets or the sum of total liabilities and total stockholders’ equity for each segment. |
OffBalance_Sheet_Arrangements_1
Off-Balance Sheet Arrangements, Guarantees and Other Commitments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ' | ||||||||||||||||
Summary Information Related to Commitments to Extend Credit (Excluding Letters of Credit) | ' | ||||||||||||||||
The following table summarizes information related to our commitments to extend credit at September 30, 2013 and December 31, 2012: | |||||||||||||||||
(Dollars in thousands) | September 30, | December 31, | |||||||||||||||
2013 | 2012 | ||||||||||||||||
Loan commitments available for funding: (1) | |||||||||||||||||
Fixed interest rate commitments | $ | 1,222,651 | $ | 862,120 | |||||||||||||
Variable interest rate commitments | 8,571,795 | 6,906,580 | |||||||||||||||
Total loan commitments available for funding | 9,794,446 | 7,768,700 | |||||||||||||||
Commercial and standby letters of credit (2) | 881,123 | 842,091 | |||||||||||||||
Total unfunded credit commitments | $ | 10,675,569 | $ | 8,610,791 | |||||||||||||
Commitments unavailable for funding (3) | $ | 1,340,102 | $ | 1,315,072 | |||||||||||||
Maximum lending limits for accounts receivable factoring arrangements (4) | 873,502 | 880,057 | |||||||||||||||
Reserve for unfunded credit commitments (5) | 28,456 | 22,299 | |||||||||||||||
-1 | Represents commitments which are available for funding, due to clients meeting all collateral, compliance and financial covenants required under loan commitment agreements. | ||||||||||||||||
-2 | See below for additional information on our commercial and standby letters of credit. | ||||||||||||||||
-3 | Represents commitments which are currently unavailable for funding, due to clients failing to meet all collateral, compliance and financial covenants under loan commitment agreements. | ||||||||||||||||
-4 | We extend credit under accounts receivable factoring arrangements when our clients’ sales invoices are deemed creditworthy under existing underwriting practices. | ||||||||||||||||
-5 | Our reserve for unfunded credit commitments includes an allowance for both our unfunded loan commitments and our letters of credit. | ||||||||||||||||
Summary of Commercial and Standby Letters of Credit | ' | ||||||||||||||||
The table below summarizes our commercial and standby letters of credit at September 30, 2013. The maximum potential amount of future payments represents the amount that could be remitted under letters of credit if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or from the collateral held or pledged. | |||||||||||||||||
(Dollars in thousands) | Expires In One | Expires After | Total Amount | Maximum Amount | |||||||||||||
Year or Less | One Year | Outstanding | of Future Payments | ||||||||||||||
Financial standby letters of credit | $ | 760,135 | $ | 52,889 | $ | 813,024 | $ | 813,024 | |||||||||
Performance standby letters of credit | 52,594 | 9,671 | 62,265 | 62,265 | |||||||||||||
Commercial letters of credit | 5,834 | — | 5,834 | 5,834 | |||||||||||||
Total | $ | 818,563 | $ | 62,560 | $ | 881,123 | $ | 881,123 | |||||||||
Total Capital Commitments, Unfunded Capital Commitments, and Ownership in Each Fund | ' | ||||||||||||||||
The following table details our total capital commitments, unfunded capital commitments, and our ownership percentage in each fund at September 30, 2013: | |||||||||||||||||
Our Ownership in Venture Capital/Private Equity Funds | SVBFG Capital Commitments | SVBFG Unfunded | SVBFG Ownership | ||||||||||||||
(Dollars in thousands) | Commitments | of each Fund | |||||||||||||||
Silicon Valley BancVentures, LP | $ | 6,000 | $ | 270 | 10.7 | % | |||||||||||
SVB Capital Partners II, LP (1) | 1,200 | 162 | 5.1 | ||||||||||||||
SVB Capital Shanghai Yangpu Venture Capital Fund | 948 | 163 | 6.8 | ||||||||||||||
SVB Strategic Investors Fund, LP | 15,300 | 688 | 12.6 | ||||||||||||||
SVB Strategic Investors Fund II, LP | 15,000 | 1,050 | 8.6 | ||||||||||||||
SVB Strategic Investors Fund III, LP | 15,000 | 1,688 | 5.9 | ||||||||||||||
SVB Strategic Investors Fund IV, LP | 12,239 | 3,060 | 5 | ||||||||||||||
Strategic Investors Fund V Funds | 515 | 353 | Various | ||||||||||||||
Strategic Investors Fund VI Funds | 500 | 483 | 0.2 | ||||||||||||||
SVB Capital Preferred Return Fund, LP | 12,688 | — | 20 | ||||||||||||||
SVB Capital—NT Growth Partners, LP | 24,670 | 1,340 | 33 | ||||||||||||||
Other private equity fund (2) | 9,338 | — | 58.2 | ||||||||||||||
Partners for Growth, LP | 25,000 | 9,750 | 50 | ||||||||||||||
Debt funds (equity method accounting) | 65,253 | 4,950 | Various | ||||||||||||||
Other fund investments (3) | 303,691 | 51,460 | Various | ||||||||||||||
Total | $ | 507,342 | $ | 75,417 | |||||||||||||
-1 | Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in SVB Strategic Investors Fund II, LP. | ||||||||||||||||
-2 | Our ownership includes direct ownership of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital - NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | ||||||||||||||||
-3 | Represents commitments to 298 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. | ||||||||||||||||
Remaining Unfunded Commitments to Venture Capital or Private Equity Funds by Consolidated Managed Funds | ' | ||||||||||||||||
The following table details the amounts of remaining unfunded commitments to venture capital and private equity funds by our consolidated managed funds of funds (including our interest and the noncontrolling interests) at September 30, 2013: | |||||||||||||||||
Limited Partnership | Unfunded | ||||||||||||||||
(Dollars in thousands) | Commitments | ||||||||||||||||
SVB Strategic Investors Fund, LP | $ | 2,298 | |||||||||||||||
SVB Strategic Investors Fund II, LP | 7,501 | ||||||||||||||||
SVB Strategic Investors Fund III, LP | 25,575 | ||||||||||||||||
SVB Strategic Investors Fund IV, LP | 68,836 | ||||||||||||||||
Strategic Investors Fund V Funds | 253,323 | ||||||||||||||||
Strategic Investors Fund VI Funds | 49,277 | ||||||||||||||||
SVB Capital Preferred Return Fund, LP | 11,326 | ||||||||||||||||
SVB Capital—NT Growth Partners, LP | 12,651 | ||||||||||||||||
Other private equity fund | 3,967 | ||||||||||||||||
Total | $ | 434,754 | |||||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Fair Value Hierarchy Tables Present Information about Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2013: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Balance at September 30, 2013 | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
U.S. agency debentures | — | 3,624,820 | — | 3,624,820 | |||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | — | 1,518,698 | — | 1,518,698 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | — | 3,247,477 | — | 3,247,477 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | — | 1,289,850 | — | 1,289,850 | |||||||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | — | 435,932 | — | 435,932 | |||||||||||||||||||||||||||||||||
Municipal bonds and notes | — | 86,579 | — | 86,579 | |||||||||||||||||||||||||||||||||
Equity securities | 4,021 | 2,540 | — | 6,561 | |||||||||||||||||||||||||||||||||
Total available-for-sale securities | 4,021 | 10,205,896 | — | 10,209,917 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Non-marketable securities: | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | — | — | 773,499 | 773,499 | |||||||||||||||||||||||||||||||||
Other venture capital investments | — | — | 55,359 | 55,359 | |||||||||||||||||||||||||||||||||
Other securities | 2,546 | — | 217,054 | 219,600 | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) | 2,546 | — | 1,045,912 | 1,048,458 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Interest rate swaps | — | 7,027 | — | 7,027 | |||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | — | 18,463 | — | 18,463 | |||||||||||||||||||||||||||||||||
Equity warrant assets | — | 4,126 | 88,126 | 92,252 | |||||||||||||||||||||||||||||||||
Loan conversion options | — | 1,774 | — | 1,774 | |||||||||||||||||||||||||||||||||
Client interest rate derivatives | — | 1,237 | — | 1,237 | |||||||||||||||||||||||||||||||||
Total assets (1) | $ | 6,567 | $ | 10,238,523 | $ | 1,134,038 | $ | 11,379,128 | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | $ | — | $ | 17,009 | $ | — | $ | 17,009 | |||||||||||||||||||||||||||||
Client interest rate derivatives | — | 1,427 | — | 1,427 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | — | $ | 18,436 | $ | — | $ | 18,436 | |||||||||||||||||||||||||||||
-1 | Included in Level 1 and Level 3 assets are $2.4 million and $953 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. | ||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2012: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Level 1 | Level 2 | Level 3 | Balance at December 31, 2012 | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||||||||||
U.S. treasury securities | $ | — | $ | 25,247 | $ | — | $ | 25,247 | |||||||||||||||||||||||||||||
U.S. agency debentures | — | 3,447,628 | — | 3,447,628 | |||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||||||||||||||||
Agency-issued mortgage-backed securities | — | 1,473,433 | — | 1,473,433 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - fixed rate | — | 4,103,974 | — | 4,103,974 | |||||||||||||||||||||||||||||||||
Agency-issued collateralized mortgage obligations - variable rate | — | 1,772,748 | — | 1,772,748 | |||||||||||||||||||||||||||||||||
Agency-issued commercial mortgage-backed securities | — | 422,098 | — | 422,098 | |||||||||||||||||||||||||||||||||
Municipal bonds and notes | — | 93,529 | — | 93,529 | |||||||||||||||||||||||||||||||||
Equity securities | 4,520 | — | — | 4,520 | |||||||||||||||||||||||||||||||||
Total available-for-sale securities | 4,520 | 11,338,657 | — | 11,343,177 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | — | — | 665,921 | 665,921 | |||||||||||||||||||||||||||||||||
Other venture capital investments | — | — | 127,091 | 127,091 | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) | — | — | 793,012 | 793,012 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Marketable securities | 1,144 | 9,184 | — | 10,328 | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 9,005 | — | 9,005 | |||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | — | 13,541 | — | 13,541 | |||||||||||||||||||||||||||||||||
Equity warrant assets | — | 8,143 | 66,129 | 74,272 | |||||||||||||||||||||||||||||||||
Loan conversion options | — | 890 | — | 890 | |||||||||||||||||||||||||||||||||
Client interest rate derivatives | — | 558 | — | 558 | |||||||||||||||||||||||||||||||||
Total assets (1) | $ | 5,664 | $ | 11,379,978 | $ | 859,141 | $ | 12,244,783 | |||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||
Foreign exchange forward and option contracts | $ | — | $ | 12,847 | $ | — | $ | 12,847 | |||||||||||||||||||||||||||||
Client interest rate derivatives | — | 590 | — | 590 | |||||||||||||||||||||||||||||||||
Total liabilities | $ | — | $ | 13,437 | $ | — | $ | 13,437 | |||||||||||||||||||||||||||||
-1 | Included in Level 1, Level 2, and Level 3 assets are $1.1 million, $8.7 million, and $708 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. | ||||||||||||||||||||||||||||||||||||
Additional Information about Level 3 Assets Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||||||||||||||||||
The following table presents additional information about Level 3 assets measured at fair value on a recurring basis for the three and nine months ended September 30, 2013 and 2012, respectively: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Beginning | Total Realized and Unrealized Gains (Losses) Included in Income | Purchases | Sales | Issuances | Distributions and Other Settlements | Transfers Into Level 3 | Transfers Out of Level 3 | Ending | ||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 741,522 | $ | 34,288 | $ | 41,704 | $ | — | $ | — | $ | (44,015 | ) | $ | — | $ | — | $ | 773,499 | ||||||||||||||||||
Other venture capital investments | 123,493 | 4,530 | 1,016 | 4 | — | (73,684 | ) | — | — | 55,359 | |||||||||||||||||||||||||||
Other securities (fair value accounting) | — | 143,301 | — | — | — | 73,753 | — | — | 217,054 | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting)(1) | 865,015 | 182,119 | 42,720 | 4 | — | (43,946 | ) | — | — | 1,045,912 | |||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 73,229 | 18,215 | — | (6,366 | ) | 2,995 | 365 | — | (312 | ) | 88,126 | ||||||||||||||||||||||||||
Total assets | $ | 938,244 | $ | 200,334 | $ | 42,720 | $ | (6,362 | ) | $ | 2,995 | $ | (43,581 | ) | $ | — | $ | (312 | ) | $ | 1,134,038 | ||||||||||||||||
Three months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 639,596 | $ | 12,104 | $ | 35,092 | $ | — | $ | — | $ | (28,383 | ) | $ | — | $ | — | $ | 658,409 | ||||||||||||||||||
Other venture capital investments | 120,111 | 3,259 | 953 | (5,202 | ) | — | 479 | — | (978 | ) | 118,622 | ||||||||||||||||||||||||||
Other investments | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 759,707 | 15,363 | 36,045 | (5,202 | ) | — | (27,904 | ) | — | (978 | ) | 777,031 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 68,619 | (800 | ) | — | (5,954 | ) | 2,994 | — | — | (168 | ) | 64,691 | |||||||||||||||||||||||||
Total assets | $ | 828,326 | $ | 14,563 | $ | 36,045 | $ | (11,156 | ) | $ | 2,994 | $ | (27,904 | ) | $ | — | $ | (1,146 | ) | $ | 841,722 | ||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 665,921 | $ | 90,526 | $ | 107,022 | $ | — | $ | — | $ | (89,970 | ) | $ | — | $ | — | $ | 773,499 | ||||||||||||||||||
Other venture capital investments | 127,091 | 5,779 | 1,210 | (381 | ) | — | (74,779 | ) | — | (3,561 | ) | 55,359 | |||||||||||||||||||||||||
Other securities (fair value accounting) | — | 143,301 | — | — | — | 73,753 | — | — | 217,054 | ||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 793,012 | 239,606 | 108,232 | (381 | ) | — | (90,996 | ) | — | (3,561 | ) | 1,045,912 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 66,129 | 26,142 | — | (10,805 | ) | 7,309 | 1,743 | — | (2,392 | ) | 88,126 | ||||||||||||||||||||||||||
Total assets | $ | 859,141 | $ | 265,748 | $ | 108,232 | $ | (11,186 | ) | $ | 7,309 | $ | (89,253 | ) | $ | — | $ | (5,953 | ) | $ | 1,134,038 | ||||||||||||||||
Nine months ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 611,824 | $ | 38,765 | $ | 90,173 | $ | — | $ | — | $ | (82,353 | ) | $ | — | $ | — | $ | 658,409 | ||||||||||||||||||
Other venture capital investments | 124,121 | (3,868 | ) | 8,888 | (9,441 | ) | — | 495 | — | (1,573 | ) | 118,622 | |||||||||||||||||||||||||
Other investments | 987 | 21 | — | — | — | (1,008 | ) | — | — | — | |||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 736,932 | 34,918 | 99,061 | (9,441 | ) | — | (82,866 | ) | — | (1,573 | ) | 777,031 | |||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 63,030 | 8,848 | — | (15,672 | ) | 9,167 | 1 | — | (683 | ) | 64,691 | ||||||||||||||||||||||||||
Total assets | $ | 799,962 | $ | 43,766 | $ | 99,061 | $ | (25,113 | ) | $ | 9,167 | $ | (82,865 | ) | $ | — | $ | (2,256 | ) | $ | 841,722 | ||||||||||||||||
-1 | Realized and unrealized gains (losses) are recorded on the line items “gains on investment securities, net”, and “other noninterest income”, components of noninterest income. | ||||||||||||||||||||||||||||||||||||
-2 | Realized and unrealized gains (losses) are recorded on the line item “gains on derivative instruments, net”, a component of noninterest income. | ||||||||||||||||||||||||||||||||||||
Unrealized Gains Included in Earnings Attributable to Level 3 Assets Held | ' | ||||||||||||||||||||||||||||||||||||
The following table presents the amount of unrealized gains (losses) included in earnings (which is inclusive of noncontrolling interest) attributable to Level 3 assets still held at September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | $ | 32,694 | $ | 12,724 | $ | 89,705 | $ | 38,916 | |||||||||||||||||||||||||||||
Other venture capital investments | 4,603 | (963 | ) | 5,720 | 4,177 | ||||||||||||||||||||||||||||||||
Other securities | 143,301 | — | 143,301 | — | |||||||||||||||||||||||||||||||||
Total non-marketable and other securities (fair value accounting) (1) | 180,598 | 11,761 | 238,726 | 43,093 | |||||||||||||||||||||||||||||||||
Other assets: | |||||||||||||||||||||||||||||||||||||
Equity warrant assets (2) | 14,205 | (2,480 | ) | 19,788 | (2,505 | ) | |||||||||||||||||||||||||||||||
Total unrealized gains | $ | 194,803 | $ | 9,281 | $ | 258,514 | $ | 40,588 | |||||||||||||||||||||||||||||
Unrealized gains attributable to noncontrolling interests | $ | 164,871 | $ | 9,543 | $ | 215,340 | $ | 37,445 | |||||||||||||||||||||||||||||
-1 | Unrealized gains (losses) are recorded on the line items “gains on investment securities, net”, and “other noninterest income”, components of noninterest income. | ||||||||||||||||||||||||||||||||||||
-2 | Unrealized gains (losses) are recorded on the line item “gains on derivative instruments, net”, a component of noninterest income. | ||||||||||||||||||||||||||||||||||||
Quantitative Information About Significant Unobservable Inputs | ' | ||||||||||||||||||||||||||||||||||||
The following table presents quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurements at September 30, 2013. We have not included in this table our venture capital and private equity fund investments (fair value accounting) as we use net asset value per share (as obtained from the general partners of the investments) as a practical expedient to determine fair value. | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Fair value | Valuation Technique | Significant Unobservable Inputs | Weighted | |||||||||||||||||||||||||||||||||
Average | |||||||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Other venture capital investments (fair value accounting) | $ | 55,359 | Private company equity pricing | -1 | (1 | ) | |||||||||||||||||||||||||||||||
Other securities | 217,054 | Modified stock price | Marketability discount | 20 | % | ||||||||||||||||||||||||||||||||
Equity warrant assets (public portfolio) | 12,618 | Modified Black-Scholes option pricing model | Marketability discount | 20 | % | ||||||||||||||||||||||||||||||||
Equity warrant assets (private portfolio) | 75,508 | Modified Black-Scholes option pricing model | Volatility | 39.7 | % | ||||||||||||||||||||||||||||||||
Risk-Free interest rate | 0.8 | % | |||||||||||||||||||||||||||||||||||
Marketability discount (2) | 22.5 | % | |||||||||||||||||||||||||||||||||||
Remaining life assumption (3) | 45 | % | |||||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Other venture capital investments (fair value accounting) | 127,091 | Private company equity pricing | -1 | (1 | ) | ||||||||||||||||||||||||||||||||
Equity warrant assets (private portfolio) | 66,129 | Modified Black-Scholes option pricing model | Volatility | 45.2 | % | ||||||||||||||||||||||||||||||||
Risk-Free interest rate | 0.4 | % | |||||||||||||||||||||||||||||||||||
Marketability discount (2) | 22.5 | % | |||||||||||||||||||||||||||||||||||
Remaining life assumption (3) | 45 | % | |||||||||||||||||||||||||||||||||||
-1 | In determining the fair value of our other venture capital investment portfolio, we evaluate a variety of factors related to each underlying private portfolio company including, but not limited to, actual and forecasted results, cash position, recent or planned transactions and market comparable companies. Additionally, we have ongoing communication with the portfolio companies and venture capital fund managers, to determine whether there is a material change in fair value. These factors are specific to each portfolio company and a weighted average or range of values of the unobservable inputs is not meaningful. | ||||||||||||||||||||||||||||||||||||
-2 | Our marketability discount is applied to all private company warrants to account for a general lack of liquidity due to the private nature of the associated underlying company. The quantitative measure used is based on long-run averages and is influenced over time by various factors, including market conditions. On a quarterly basis, a sensitivity analysis is performed on our marketability discount. | ||||||||||||||||||||||||||||||||||||
-3 | We adjust the contractual remaining term of private company warrants based on our estimate of the actual remaining life, which we determine by utilizing historical data on cancellations and exercises. At September 30, 2013, the weighted average contractual remaining term was 6.5 years, compared to our estimated remaining life of 2.9 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. | ||||||||||||||||||||||||||||||||||||
Summary of Estimated Fair Values of Financial Instruments Not Carried at Fair Value | ' | ||||||||||||||||||||||||||||||||||||
The following fair value hierarchy table presents the estimated fair values of our financial instruments that are not carried at fair value at September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Estimated Fair Value | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||
September 30, 2013: | |||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,942,744 | $ | 1,942,744 | $ | — | $ | — | |||||||||||||||||||||||||||||
Non-marketable and other securities (cost and equity method accounting) | 379,601 | — | — | 442,620 | |||||||||||||||||||||||||||||||||
Net commercial loans | 8,780,870 | — | — | 8,906,145 | |||||||||||||||||||||||||||||||||
Net consumer loans | 919,378 | — | — | 989,546 | |||||||||||||||||||||||||||||||||
FHLB and Federal Reserve Bank stock | 40,532 | — | — | 40,532 | |||||||||||||||||||||||||||||||||
Accrued interest receivable | 64,902 | — | 64,902 | — | |||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||
Other short-term borrowings | 5,580 | 5,580 | — | — | |||||||||||||||||||||||||||||||||
Non-maturity deposits (1) | 19,822,370 | 19,822,370 | — | — | |||||||||||||||||||||||||||||||||
Time deposits | 174,620 | — | 174,658 | — | |||||||||||||||||||||||||||||||||
5.375% Senior Notes | 348,155 | — | 384,139 | — | |||||||||||||||||||||||||||||||||
6.05% Subordinated Notes (2) | 52,524 | — | 57,646 | — | |||||||||||||||||||||||||||||||||
7.0% Junior Subordinated Debentures | 55,065 | — | 53,761 | — | |||||||||||||||||||||||||||||||||
Accrued interest payable | 2,046 | — | 2,046 | — | |||||||||||||||||||||||||||||||||
Off-balance sheet financial assets: | |||||||||||||||||||||||||||||||||||||
Commitments to extend credit | — | — | — | 23,568 | |||||||||||||||||||||||||||||||||
December 31, 2012: | |||||||||||||||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,008,983 | $ | 1,008,983 | $ | — | $ | — | |||||||||||||||||||||||||||||
Non-marketable and other securities (cost and equity method accounting) | 391,253 | — | — | 425,741 | |||||||||||||||||||||||||||||||||
Net commercial loans | 8,013,563 | — | — | 8,180,597 | |||||||||||||||||||||||||||||||||
Net consumer loans | 822,719 | — | — | 860,772 | |||||||||||||||||||||||||||||||||
FHLB and Federal Reserve Bank stock | 39,806 | — | — | 39,806 | |||||||||||||||||||||||||||||||||
Accrued interest receivable | 64,167 | — | 64,167 | — | |||||||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||||||||||
Federal funds purchased | 160,000 | 160,000 | — | — | |||||||||||||||||||||||||||||||||
Other short-term borrowings | 6,110 | 6,110 | — | — | |||||||||||||||||||||||||||||||||
Non-maturity deposits (1) | 19,021,264 | 19,021,264 | — | — | |||||||||||||||||||||||||||||||||
Time deposits | 155,188 | — | 155,027 | — | |||||||||||||||||||||||||||||||||
5.375% Senior Notes | 347,995 | — | 393,701 | — | |||||||||||||||||||||||||||||||||
6.05% Subordinated Notes (2) | 54,571 | — | 61,639 | — | |||||||||||||||||||||||||||||||||
7.0% Junior Subordinated Debentures | 55,196 | — | 51,959 | — | |||||||||||||||||||||||||||||||||
Accrued interest payable | 6,494 | — | 6,494 | — | |||||||||||||||||||||||||||||||||
Off-balance sheet financial assets: | |||||||||||||||||||||||||||||||||||||
Commitments to extend credit | — | — | — | 20,562 | |||||||||||||||||||||||||||||||||
-1 | Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. | ||||||||||||||||||||||||||||||||||||
-2 | At September 30, 2013 and December 31, 2012, included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. | ||||||||||||||||||||||||||||||||||||
Summary of Estimated Fair Values of Investments and Remaining Unfunded Commitments for Each Major Category of Investments | ' | ||||||||||||||||||||||||||||||||||||
The following table is a summary of the estimated fair values of these investments and remaining unfunded commitments for each major category of these investments as of September 30, 2013: | |||||||||||||||||||||||||||||||||||||
(Dollars in thousands) | Carrying Amount | Fair Value | Unfunded | ||||||||||||||||||||||||||||||||||
Commitments | |||||||||||||||||||||||||||||||||||||
Non-marketable and other securities (fair value accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (1) | $ | 773,499 | $ | 773,499 | $ | 434,754 | |||||||||||||||||||||||||||||||
Non-marketable and other securities (equity method accounting): | |||||||||||||||||||||||||||||||||||||
Other investments (2) | 52,265 | 53,766 | 15,436 | ||||||||||||||||||||||||||||||||||
Non-marketable and other securities (cost method accounting): | |||||||||||||||||||||||||||||||||||||
Venture capital and private equity fund investments (3) | 149,602 | 206,254 | 39,765 | ||||||||||||||||||||||||||||||||||
Total | $ | 975,366 | $ | 1,033,519 | $ | 489,955 | |||||||||||||||||||||||||||||||
-1 | Venture capital and private equity fund investments within non-marketable securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds. These investments represent investments in venture capital and private equity funds that invest primarily in U.S. and global technology and life sciences companies. Included in the fair value and unfunded commitments of fund investments under fair value accounting are $700 million and $428 million, respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. | ||||||||||||||||||||||||||||||||||||
-2 | Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds. | ||||||||||||||||||||||||||||||||||||
-3 | Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Stockholders_Equity_and_EPS_Re
Stockholders' Equity and EPS - Reconciliation of Basic EPS to Diluted EPS (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator: | ' | ' | ' | ' |
Net income available to common stockholders | $67,621 | $42,289 | $157,096 | $124,682 |
Denominator: | ' | ' | ' | ' |
Weighted average common shares outstanding-basic (in shares) | 45,580 | 44,449 | 45,180 | 44,147 |
Denominator for diluted calculation (in shares) | 46,202 | 44,915 | 45,765 | 44,692 |
Earnings per common share: | ' | ' | ' | ' |
Basic (dollars per share) | $1.48 | $0.95 | $3.48 | $2.82 |
Diluted (dollars per share) | $1.46 | $0.94 | $3.43 | $2.79 |
Stock options and ESPP | ' | ' | ' | ' |
Denominator: | ' | ' | ' | ' |
Weighted average effect of dilutive securities (in shares) | 429 | 346 | 405 | 402 |
Restricted stock units | ' | ' | ' | ' |
Denominator: | ' | ' | ' | ' |
Weighted average effect of dilutive securities (in shares) | 193 | 120 | 180 | 143 |
Stockholders_Equity_and_EPS_Co
Stockholders' Equity and EPS - Common Shares Excluded from Diluted EPS Calculation as They Were Deemed to be Anti-Dilutive (Detail) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Shares excluded from diluted earnings per share calculation | 343 | 1,015 | 547 | 658 |
Stock options | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Shares excluded from diluted earnings per share calculation | 343 | 795 | 546 | 658 |
Restricted stock units | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Shares excluded from diluted earnings per share calculation | 0 | 220 | 1 | 0 |
Stockholders_Equity_and_EPS_Re1
Stockholders' Equity and EPS Reclassifications out of AOCI (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassifications out of AOCI [Abstract] | ' | ' | ' | ' |
Reclassification adjustment for losses (gains) included in net income | ($219) | $101 | ($949) | ($3,592) |
Related tax expense (benefit) | 85 | -41 | 363 | 1,421 |
Other Comprehensive Income (Loss), Reclassification Adjustment for Sale of Securities Included in Net Income, Net of Tax | ($134) | $60 | ($586) | ($2,171) |
ShareBased_Compensation_Share_
Share-Based Compensation - Share Based Compensation and Related Benefits (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Share-based compensation expense | $6,723 | $5,617 | $18,945 | $16,594 |
Income tax benefit related to share-based compensation expense | ($2,243) | ($1,720) | ($5,801) | ($4,408) |
ShareBased_Compensation_Unreco
Share-Based Compensation - Unrecognized Share-Based Compensation Expense (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Unrecognized Share Based Compensation Expense [Line Items] | ' |
Unrecognized Expense | $51,552 |
Stock options | ' |
Unrecognized Share Based Compensation Expense [Line Items] | ' |
Unrecognized Expense | 17,195 |
Average Expected Recognition Period - in Years | '2 years 8 months |
Restricted stock units | ' |
Unrecognized Share Based Compensation Expense [Line Items] | ' |
Unrecognized Expense | $34,357 |
Average Expected Recognition Period - in Years | '2 years 8 months 18 days |
ShareBased_Compensation_Stock_
Share-Based Compensation - Stock Option Information Related to Equity Incentive Plan (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Options | ' |
Outstanding, beginning of period | 2,060,413 |
Granted | 311,692 |
Exercised | -661,216 |
Forfeited | -44,330 |
Expired | -953 |
Outstanding, end of period | 1,665,606 |
Vested and expected to vest, end of period | 1,610,512 |
Exercisable, end of period | 789,760 |
Weighted Average Exercise Price | ' |
Outstanding, beginning of period | $49.15 |
Granted | $71.54 |
Exercised | $45.97 |
Forfeited | $55.85 |
Expired | $51.86 |
Outstanding, end of period | $54.42 |
Vested and expected to vest, end of period | $54.02 |
Exercisable, end of period | $44.89 |
Weighted Average Remaining Contractual Life in Years | ' |
Outstanding, end of period | '4 years 3 months 30 days |
Vested and expected to vest, end of period | '4 years 3 months 12 days |
Exercisable, end of period | '3 years 1 month 24 days |
Aggregate Intrinsic Value of In-The- Money Options | ' |
Outstanding, end of period | $53,233,391 |
Vested and expected to vest, end of period | 52,113,576 |
Exercisable, end of period | $32,761,622 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' |
Closing stock price | $86.37 | ' | $86.37 | ' |
Total intrinsic value of options exercised | $6.50 | $3 | $18.40 | $16.70 |
ShareBased_Compensation_Inform
Share-Based Compensation - Information for Restricted Stock Units under Equity Incentive Plan (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Weighted Average Grant Date Fair Value | ' |
Nonvested, beginning of period | $59.42 |
Granted | $71.52 |
Vested | $56.41 |
Forfeited | $61.35 |
Nonvested, end of period | $65.60 |
Restricted stock units | ' |
Shares | ' |
Nonvested, beginning of period | 585,543 |
Granted | 328,245 |
Vested | -166,617 |
Forfeited | -34,351 |
Nonvested, end of period | 712,820 |
Cash_and_Cash_Equivalents_Deta
Cash and Cash Equivalents (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | ||||||
Cash and Cash Equivalents [Abstract] | ' | ' | ' | ' | ||
Cash and due from banks | $1,770,123 | [1] | $752,056 | [1] | ' | ' |
Securities purchased under agreements to resell | 168,026 | [2] | 133,357 | [2] | ' | ' |
Other short-term investment securities | 4,595 | 123,570 | ' | ' | ||
Total cash and cash equivalents | $1,942,744 | $1,008,983 | $906,680 | $1,114,948 | ||
[1] | At September 30, 2013 and December 31, 2012, $1.2 billion and $72 million, respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were $222 million and $283 million, respectively. | |||||
[2] | At September 30, 2013 and December 31, 2012, securities purchased under agreements to resell were collateralized by U.S. treasury securities and U.S. agency securities with aggregate fair values of $171 million and $136 million, respectively. None of these securities received as collateral were sold or repledged as of September 30, 2013 or December 31, 2012. |
Cash_and_Cash_Equivalents_Pare
Cash and Cash Equivalents (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Cash and Cash Equivalents [Abstract] | ' | ' |
Deposits at the Federal Reserve Bank earning interest at the Federal Funds target rate | $1,200 | $72 |
Interest-earning deposits in other financial institutions | 222 | 283 |
Fair value of securities purchased under agreements to resell | 171 | 136 |
Fair value of securities received as collateral that have been resold or repledged | $0 | $0 |
Investment_Securities_Major_Co
Investment Securities - Major Components of Investment Securities Portfolio (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | $10,186,861 | $11,152,150 | ||
Unrealized Gains | 106,304 | 192,960 | ||
Unrealized Losses | -83,248 | -1,933 | ||
Carrying Value | 10,209,917 | 11,343,177 | ||
Non-marketable and other securities | 1,425,138 | 1,184,265 | ||
Total investment securities | 11,635,055 | 12,527,442 | ||
Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 773,499 | [1] | 665,921 | [1] |
Fair value accounting | Other venture capital investments | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 55,359 | [2] | 127,091 | [2] |
Fair value accounting | Other Securities [Member] | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 219,600 | [3] | 0 | [3] |
Equity method accounting | Other investments | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 142,571 | [4] | 139,330 | [4] |
Equity method accounting | Low income housing tax credit funds | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 70,092 | 70,318 | ||
Cost method accounting | Venture capital and private equity fund investments | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 149,602 | [5] | 161,884 | [5] |
Cost method accounting | Other investments | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Non-marketable securities | 14,415 | 19,721 | ||
U.S. treasury securities | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 0 | 25,057 | ||
Unrealized Gains | 0 | 190 | ||
Unrealized Losses | 0 | 0 | ||
Carrying Value | 0 | 25,247 | ||
U.S. agency debentures | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 3,602,585 | 3,370,455 | ||
Unrealized Gains | 46,412 | 77,173 | ||
Unrealized Losses | -24,177 | 0 | ||
Carrying Value | 3,624,820 | 3,447,628 | ||
Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 1,493,666 | 1,428,682 | ||
Unrealized Gains | 28,013 | 44,858 | ||
Unrealized Losses | -2,981 | -107 | ||
Carrying Value | 1,518,698 | 1,473,433 | ||
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 3,269,966 | 4,063,020 | ||
Unrealized Gains | 21,699 | 41,949 | ||
Unrealized Losses | -44,188 | -995 | ||
Carrying Value | 3,247,477 | 4,103,974 | ||
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 1,286,547 | 1,760,551 | ||
Unrealized Gains | 3,452 | 12,201 | ||
Unrealized Losses | -149 | -4 | ||
Carrying Value | 1,289,850 | 1,772,748 | ||
Agency-issued commercial mortgage-backed securities | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 445,336 | 416,487 | ||
Unrealized Gains | 1,381 | 6,100 | ||
Unrealized Losses | -10,785 | -489 | ||
Carrying Value | 435,932 | 422,098 | ||
Municipal bonds and notes | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 82,039 | 85,790 | ||
Unrealized Gains | 4,540 | 7,750 | ||
Unrealized Losses | 0 | -11 | ||
Carrying Value | 86,579 | 93,529 | ||
Equity securities | ' | ' | ||
Investment Holdings [Line Items] | ' | ' | ||
Amortized Cost | 6,722 | 2,108 | ||
Unrealized Gains | 807 | 2,739 | ||
Unrealized Losses | -968 | -327 | ||
Carrying Value | $6,561 | $4,520 | ||
[1] | The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %SVB Strategic Investors Fund, LP $30,265 12.6% $32,850 12.6%SVB Strategic Investors Fund II, LP 96,595 8.6 91,294 8.6SVB Strategic Investors Fund III, LP 226,123 5.9 209,696 5.9SVB Strategic Investors Fund IV, LP 209,368 5.0 169,931 5.0Strategic Investors Fund V Funds 89,410 Various 40,622 VariousStrategic Investors Fund VI Funds 4,681 0.2 — —SVB Capital Preferred Return Fund, LP 55,721 20.0 53,643 20.0SVB Capital—NT Growth Partners, LP 55,836 33.0 60,120 33.0SVB Capital Partners II, LP (i) 716 5.1 1,303 5.1Other private equity fund (ii) 4,784 58.2 6,462 58.2Total venture capital and private equity fund investments $773,499 $665,921 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP.(ii)At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||
[2] | The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %Silicon Valley BancVentures, LP $7,383 10.7% $43,493 10.7%SVB Capital Partners II, LP (i) 43,682 5.1 79,761 5.1SVB Capital Shanghai Yangpu Venture Capital Fund 4,294 6.8 3,837 6.8Total other venture capital investments $55,359 $127,091 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||
[3] | Investments classified as other securities (fair value accounting) represent certain direct equity investments in public companies held by our consolidated funds. | |||
[4] | The following table shows the carrying value and our ownership percentage of each investment at September 30, 2013 and December 31, 2012 (equity method accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %Gold Hill Venture Lending 03, LP (i) $8,734 9.3% $9,413 9.3%Gold Hill Capital 2008, LP (ii) 21,318 15.5 20,893 15.5China Joint Venture investment 80,346 50.0 78,545 50.0Other investments 32,173 Various 30,479 VariousTotal other investments (equity method accounting) $142,571 $139,330 (i)At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLCâ€) of 4.5 percent. (ii)At September 30, 2013, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent. | |||
[5] | Represents investments in 293 and 324 funds (primarily venture capital funds) at September 30, 2013 and December 31, 2012, respectively, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. For the three months ended September 30, 2013, we recognized OTTI losses of $0.4 million resulting from other-than-temporary declines in value for 12 of the 293 investments. For the nine months ended September 30, 2013, we recognized OTTI losses of $1.2 million resulting from other-than-temporary declines in value for 37 of the investments. The OTTI losses are included in net gains on investment securities, a component of noninterest income. We concluded that any declines in value for the remaining investments were temporary and as such, no OTTI was required to be recognized. At September 30, 2013, the carrying value of these venture capital and private equity fund investments (cost method accounting) was $150 million, and the estimated fair value was $206 million. |
Investment_Securities_Major_Co1
Investment Securities - Major Components of Investment Securities Portfolio (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |||||||||||||||||||
Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Equity method accounting | Equity method accounting | Cost method accounting | Cost method accounting | Cost method accounting | Cost method accounting | Cost method accounting | SVB Strategic Investors Fund, LP | SVB Strategic Investors Fund, LP | SVB Strategic Investors Fund II, LP | SVB Strategic Investors Fund II, LP | SVB Strategic Investors Fund III, LP | SVB Strategic Investors Fund III, LP | SVB Strategic Investors Fund IV, LP | SVB Strategic Investors Fund IV, LP | Strategic Investors Fund V Funds | Strategic Investors Fund V Funds | Strategic Investors Fund VI Limited Partnership | Strategic Investors Fund VI Limited Partnership | SVB Capital Preferred Return Fund, LP | SVB Capital Preferred Return Fund, LP | SVB Capital—NT Growth Partners, LP | SVB Capital—NT Growth Partners, LP | SVB Capital Partners II, LP | SVB Capital Partners II, LP | SVB Capital Partners II, LP | SVB Capital Partners II, LP | SVB Capital Partners II, LP | SVB Capital Partners II, LP | Other private equity fund | Other private equity fund | Other private equity fund | Silicon Valley BancVentures, LP | Silicon Valley BancVentures, LP | SVB Capital Shanghai Yangpu Venture Capital Fund | SVB Capital Shanghai Yangpu Venture Capital Fund | Gold Hill Venture Lending 03, LP | Gold Hill Venture Lending 03, LP | Gold Hill Venture Lending 03, LP | Gold Hill Venture Lending 03, LP | Gold Hill Capital 2008, LP | Gold Hill Capital 2008, LP | Gold Hill Capital 2008, LP | Gold Hill Capital 2008, LP | China Joint Venture investment | China Joint Venture investment | Other investments | Other investments | Upper Limit | Upper Limit | Estimated Fair Value | ||||||||||||||||||||
Other venture capital investments | Other venture capital investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Other investments | Other investments | Other investments | Other investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Equity method accounting | Cost method accounting | Cost method accounting | Cost method accounting | ||||||||||||||||||||
Investment | Investment | Investment | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Other venture capital investments | Other venture capital investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Direct ownership interest | Indirect ownership interest | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Direct ownership interest | Other venture capital investments | Other venture capital investments | Other venture capital investments | Other venture capital investments | Other investments | Other investments | Direct ownership interest | Indirect ownership interest | Other investments | Other investments | Direct ownership interest | Indirect ownership interest | Other investments | Other investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | ||||||||||||||||||||||||||||||
Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Other investments | Other investments | Other investments | Other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Holdings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Non-marketable securities | $55,359,000 | [1] | $127,091,000 | [1] | $773,499,000 | [2] | $665,921,000 | [2] | ' | ' | ' | ' | ' | ' | ' | $30,265,000 | $32,850,000 | $96,595,000 | $91,294,000 | $226,123,000 | $209,696,000 | $209,368,000 | $169,931,000 | $89,410,000 | $40,622,000 | $4,681,000 | $0 | $55,721,000 | $53,643,000 | $55,836,000 | $60,120,000 | $43,682,000 | [3] | $79,761,000 | [3] | $716,000 | [4] | $1,303,000 | [4] | ' | ' | $4,784,000 | [5] | $6,462,000 | [5] | ' | $7,383,000 | $43,493,000 | $4,294,000 | $3,837,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Percentage of ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.60% | 12.60% | 8.60% | 8.60% | 5.90% | 5.90% | 5.00% | 5.00% | ' | ' | 0.20% | 0.00% | 20.00% | 20.00% | 33.00% | 33.00% | 5.10% | [3] | 5.10% | [3] | 5.10% | [4] | 5.10% | [4] | 1.30% | 3.80% | 58.20% | [5] | 58.20% | [5] | 41.50% | 10.70% | 10.70% | 6.80% | 6.80% | 9.30% | [6] | 9.30% | [6] | 4.80% | 4.50% | 15.50% | [7] | 15.50% | [7] | 11.50% | 4.00% | 50.00% | 50.00% | ' | ' | 5.00% | 5.00% | ' | |||||||||
Non-marketable securities | ' | ' | ' | ' | 142,571,000 | [8] | 139,330,000 | [8] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,734,000 | [6] | 9,413,000 | [6] | ' | ' | 21,318,000 | [7] | 20,893,000 | [7] | ' | ' | 80,346,000 | 78,545,000 | 32,173,000 | 30,479,000 | ' | ' | ' | |||||||||||||
Number of investments | ' | ' | ' | ' | ' | ' | ' | ' | 293 | 293 | 324 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Recognized other-than-temporary impairment (OTTI) losses | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Number of other-than-temporary impaired investments | ' | ' | ' | ' | ' | ' | ' | ' | 12 | 37 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||
Non-marketable securities | ' | ' | ' | ' | ' | ' | $14,415,000 | $19,721,000 | $149,602,000 | [9] | $149,602,000 | [9] | $161,884,000 | [9] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $206,000,000 | ||||||||||||||||
[1] | The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %Silicon Valley BancVentures, LP $7,383 10.7% $43,493 10.7%SVB Capital Partners II, LP (i) 43,682 5.1 79,761 5.1SVB Capital Shanghai Yangpu Venture Capital Fund 4,294 6.8 3,837 6.8Total other venture capital investments $55,359 $127,091 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %SVB Strategic Investors Fund, LP $30,265 12.6% $32,850 12.6%SVB Strategic Investors Fund II, LP 96,595 8.6 91,294 8.6SVB Strategic Investors Fund III, LP 226,123 5.9 209,696 5.9SVB Strategic Investors Fund IV, LP 209,368 5.0 169,931 5.0Strategic Investors Fund V Funds 89,410 Various 40,622 VariousStrategic Investors Fund VI Funds 4,681 0.2 — —SVB Capital Preferred Return Fund, LP 55,721 20.0 53,643 20.0SVB Capital—NT Growth Partners, LP 55,836 33.0 60,120 33.0SVB Capital Partners II, LP (i) 716 5.1 1,303 5.1Other private equity fund (ii) 4,784 58.2 6,462 58.2Total venture capital and private equity fund investments $773,499 $665,921 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP.(ii)At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLCâ€) of 4.5 percent. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | At September 30, 2013, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | The following table shows the carrying value and our ownership percentage of each investment at September 30, 2013 and December 31, 2012 (equity method accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %Gold Hill Venture Lending 03, LP (i) $8,734 9.3% $9,413 9.3%Gold Hill Capital 2008, LP (ii) 21,318 15.5 20,893 15.5China Joint Venture investment 80,346 50.0 78,545 50.0Other investments 32,173 Various 30,479 VariousTotal other investments (equity method accounting) $142,571 $139,330 (i)At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLCâ€) of 4.5 percent. (ii)At September 30, 2013, we had a direct ownership interest of 11.5 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Capital 2008, LLC of 4.0 percent. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | Represents investments in 293 and 324 funds (primarily venture capital funds) at September 30, 2013 and December 31, 2012, respectively, where our ownership interest is typically less than 5% of the voting interests of each such fund and in which we do not have the ability to exercise significant influence over the partnerships operating activities and financial policies. For the three months ended September 30, 2013, we recognized OTTI losses of $0.4 million resulting from other-than-temporary declines in value for 12 of the 293 investments. For the nine months ended September 30, 2013, we recognized OTTI losses of $1.2 million resulting from other-than-temporary declines in value for 37 of the investments. The OTTI losses are included in net gains on investment securities, a component of noninterest income. We concluded that any declines in value for the remaining investments were temporary and as such, no OTTI was required to be recognized. At September 30, 2013, the carrying value of these venture capital and private equity fund investments (cost method accounting) was $150 million, and the estimated fair value was $206 million. |
Investment_Securities_Summary_
Investment Securities - Summary of Unrealized Losses on Available for Sale Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | $3,472,589 | [1] | $637,004 |
Less than 12 months - Unrealized Losses | -81,615 | [1] | -1,663 |
12 months or longer - Fair Value of Investments | 79,190 | [1] | 8,163 |
12 months or longer - Unrealized Losses | -1,633 | [1] | -270 |
Fair Value of Investments | 3,551,779 | [1] | 645,167 |
Unrealized Losses | -83,248 | [1] | -1,933 |
U.S. agency debentures | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 942,337 | ' | |
Less than 12 months - Unrealized Losses | -24,177 | ' | |
12 months or longer - Fair Value of Investments | 0 | ' | |
12 months or longer - Unrealized Losses | 0 | ' | |
Fair Value of Investments | 942,337 | ' | |
Unrealized Losses | -24,177 | ' | |
Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 261,787 | 22,831 | |
Less than 12 months - Unrealized Losses | -2,981 | -107 | |
12 months or longer - Fair Value of Investments | 0 | 0 | |
12 months or longer - Unrealized Losses | 0 | 0 | |
Fair Value of Investments | 261,787 | 22,831 | |
Unrealized Losses | -2,981 | -107 | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 1,886,229 | 461,397 | |
Less than 12 months - Unrealized Losses | -42,555 | -995 | |
12 months or longer - Fair Value of Investments | 79,190 | 0 | |
12 months or longer - Unrealized Losses | -1,633 | 0 | |
Fair Value of Investments | 1,965,419 | 461,397 | |
Unrealized Losses | -44,188 | -995 | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 147,218 | 0 | |
Less than 12 months - Unrealized Losses | -149 | 0 | |
12 months or longer - Fair Value of Investments | 0 | 7,908 | |
12 months or longer - Unrealized Losses | 0 | -4 | |
Fair Value of Investments | 147,218 | 7,908 | |
Unrealized Losses | -149 | -4 | |
Agency-issued commercial mortgage-backed securities | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 232,474 | 150,581 | |
Less than 12 months - Unrealized Losses | -10,785 | -489 | |
12 months or longer - Fair Value of Investments | 0 | 0 | |
12 months or longer - Unrealized Losses | 0 | 0 | |
Fair Value of Investments | 232,474 | 150,581 | |
Unrealized Losses | -10,785 | -489 | |
Municipal bonds and notes | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | ' | 2,098 | |
Less than 12 months - Unrealized Losses | ' | -11 | |
12 months or longer - Fair Value of Investments | ' | 0 | |
12 months or longer - Unrealized Losses | ' | 0 | |
Fair Value of Investments | ' | 2,098 | |
Unrealized Losses | ' | -11 | |
Equity securities | ' | ' | |
Investments, Unrealized Loss Position [Line Items] | ' | ' | |
Less than 12 months - Fair Value of Investments | 2,544 | 97 | |
Less than 12 months - Unrealized Losses | -968 | -61 | |
12 months or longer - Fair Value of Investments | 0 | 255 | |
12 months or longer - Unrealized Losses | 0 | -266 | |
Fair Value of Investments | 2,544 | 352 | |
Unrealized Losses | ($968) | ($327) | |
[1] | As of September 30, 2013, we identified a total of 134 investments that were in unrealized loss positions, of which 3 investments totaling $79 million with unrealized losses of $1.6 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2013, we do not intend to sell any impaired debt or equity securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis. Based on our analysis as of September 30, 2013, we deem all impairments to be temporary, and therefore changes in value for our temporarily impaired securities as of the same date are included in other comprehensive income. Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis. |
Investment_Securities_Summary_1
Investment Securities - Summary of Unrealized Losses on Available for Sale Securities (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | Investment | ||
Investments, Debt and Equity Securities [Abstract] | ' | ' | |
Number of investments in unrealized loss positions | 134 | ' | |
Number of investment with unrealized losses | 3 | ' | |
Investments that were in unrealized loss position | $79,190 | [1] | $8,163 |
12 months or longer - Unrealized Losses | ($1,633) | [1] | ($270) |
[1] | As of September 30, 2013, we identified a total of 134 investments that were in unrealized loss positions, of which 3 investments totaling $79 million with unrealized losses of $1.6 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2013, we do not intend to sell any impaired debt or equity securities prior to recovery of our adjusted cost basis, and it is more likely than not that we will not be required to sell any of our securities prior to recovery of our adjusted cost basis. Based on our analysis as of September 30, 2013, we deem all impairments to be temporary, and therefore changes in value for our temporarily impaired securities as of the same date are included in other comprehensive income. Market valuations and impairment analyses on assets in the available-for-sale securities portfolio are reviewed and monitored on a quarterly basis. |
Investment_Securities_Addition
Investment Securities - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Schedule of Available-for-sale Securities [Line Items] | ' |
Federal statutory income tax rate | 35.00% |
Lower Limit | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Mortgage-backed securities contractual maturities (in years) | '10 years |
Upper Limit | ' |
Schedule of Available-for-sale Securities [Line Items] | ' |
Mortgage-backed securities contractual maturities (in years) | '30 years |
Investment_Securities_Summary_2
Investment Securities - Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Debt Securities Classified as Available for Sale (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | $10,203,356 |
Weighted- Average Yield | 1.74% |
One Year or Less - Carrying Value | 249,458 |
One Year or Less - Weighted- Average Yield | 1.36% |
After One Year to Five Years - Carrying Value | 2,632,356 |
After One Year to Five Years - Weighted- Average Yield | 1.53% |
After Five Years to Ten Years - Carrying Value | 1,836,122 |
After Five Years to Ten Years - Weighted- Average Yield | 2.18% |
After Ten Years - Carrying Value | 5,485,420 |
After Ten Years - Weighted- Average Yield | 1.70% |
U.S. agency debentures | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 3,624,820 |
Weighted- Average Yield | 1.56% |
One Year or Less - Carrying Value | 248,124 |
One Year or Less - Weighted- Average Yield | 1.34% |
After One Year to Five Years - Carrying Value | 2,607,969 |
After One Year to Five Years - Weighted- Average Yield | 1.49% |
After Five Years to Ten Years - Carrying Value | 768,727 |
After Five Years to Ten Years - Weighted- Average Yield | 1.87% |
After Ten Years - Carrying Value | 0 |
After Ten Years - Weighted- Average Yield | 0.00% |
Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 1,518,698 |
Weighted- Average Yield | 2.38% |
One Year or Less - Carrying Value | 0 |
One Year or Less - Weighted- Average Yield | 0.00% |
After One Year to Five Years - Carrying Value | 889 |
After One Year to Five Years - Weighted- Average Yield | 7.50% |
After Five Years to Ten Years - Carrying Value | 1,024,091 |
After Five Years to Ten Years - Weighted- Average Yield | 2.25% |
After Ten Years - Carrying Value | 493,718 |
After Ten Years - Weighted- Average Yield | 2.63% |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 3,247,477 |
Weighted- Average Yield | 1.90% |
One Year or Less - Carrying Value | 0 |
One Year or Less - Weighted- Average Yield | 0.00% |
After One Year to Five Years - Carrying Value | 0 |
After One Year to Five Years - Weighted- Average Yield | 0.00% |
After Five Years to Ten Years - Carrying Value | 0 |
After Five Years to Ten Years - Weighted- Average Yield | 0.00% |
After Ten Years - Carrying Value | 3,247,477 |
After Ten Years - Weighted- Average Yield | 1.90% |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 1,289,850 |
Weighted- Average Yield | 0.70% |
One Year or Less - Carrying Value | 0 |
One Year or Less - Weighted- Average Yield | 0.00% |
After One Year to Five Years - Carrying Value | 0 |
After One Year to Five Years - Weighted- Average Yield | 0.00% |
After Five Years to Ten Years - Carrying Value | 0 |
After Five Years to Ten Years - Weighted- Average Yield | 0.00% |
After Ten Years - Carrying Value | 1,289,850 |
After Ten Years - Weighted- Average Yield | 0.70% |
Agency-issued commercial mortgage-backed securities | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 435,932 |
Weighted- Average Yield | 1.92% |
One Year or Less - Carrying Value | 0 |
One Year or Less - Weighted- Average Yield | 0.00% |
After One Year to Five Years - Carrying Value | 0 |
After One Year to Five Years - Weighted- Average Yield | 0.00% |
After Five Years to Ten Years - Carrying Value | 0 |
After Five Years to Ten Years - Weighted- Average Yield | 0.00% |
After Ten Years - Carrying Value | 435,932 |
After Ten Years - Weighted- Average Yield | 1.92% |
Municipal bonds and notes | ' |
Investments Classified by Contractual Maturity Date [Line Items] | ' |
Carrying Value | 86,579 |
Weighted- Average Yield | 5.98% |
One Year or Less - Carrying Value | 1,334 |
One Year or Less - Weighted- Average Yield | 5.44% |
After One Year to Five Years - Carrying Value | 23,498 |
After One Year to Five Years - Weighted- Average Yield | 5.69% |
After Five Years to Ten Years - Carrying Value | 43,304 |
After Five Years to Ten Years - Weighted- Average Yield | 6.03% |
After Ten Years - Carrying Value | $18,443 |
After Ten Years - Weighted- Average Yield | 6.26% |
Investment_Securities_Componen
Investment Securities - Components of Gains and Losses (Realized and Unrealized) on Investment Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | $196,782,000 | $39,100,000 | $288,132,000 | $118,876,000 | ||
Gross losses on investment securities | -8,920,000 | -18,872,000 | -32,271,000 | -65,000,000 | ||
Gains on investment securities, net | 187,862,000 | 20,228,000 | 255,861,000 | 53,876,000 | ||
Gains attributable to noncontrolling interests, including carried interest | 151,360,000 | 12,776,000 | 204,723,000 | 34,616,000 | ||
Fair value accounting | Other Securities [Member] | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
UnrealizedGainsRelatedToSingleInvestment | 139,000,000 | ' | ' | ' | ||
Gross gains on investment securities | 143,840,000 | 0 | 143,840,000 | 0 | ||
Gross losses on investment securities | -75,000 | 0 | -75,000 | 0 | ||
Cost method accounting | Venture capital and private equity fund investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Recognized other-than-temporary impairment (OTTI) losses | 400,000 | ' | 1,200,000 | ' | ||
Number of other-than-temporary impaired investments | 12 | ' | 37 | ' | ||
Available-for-sale Securities | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 317,000 | [1] | 20,000 | [1] | 3,167,000 | 5,363,000 |
Gross losses on investment securities | -98,000 | [1] | -121,000 | [1] | -2,218,000 | -1,771,000 |
Marketable Securities | Fair value accounting | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 0 | 255,000 | 4,345,000 | 3,874,000 | ||
Gross losses on investment securities | 0 | -553,000 | -2,534,000 | -1,307,000 | ||
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 35,826,000 | 28,639,000 | 107,546,000 | 88,037,000 | ||
Gross losses on investment securities | -1,575,000 | -16,557,000 | -17,020,000 | -49,090,000 | ||
Non-marketable securities | Fair value accounting | Other venture capital investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 5,180,000 | 2,515,000 | 8,020,000 | 5,848,000 | ||
Gross losses on investment securities | -587,000 | -125,000 | -2,241,000 | -10,007,000 | ||
Non-marketable securities | Fair value accounting | Other investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 0 | 0 | 0 | 21,000 | ||
Non-marketable securities | Equity method accounting | Other investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 6,569,000 | 5,571,000 | 14,038,000 | 12,382,000 | ||
Gross losses on investment securities | -1,944,000 | -1,091,000 | -2,421,000 | -1,794,000 | ||
Non-marketable securities | Cost method accounting | Venture capital and private equity fund investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 5,016,000 | 694,000 | 6,806,000 | 1,639,000 | ||
Gross losses on investment securities | -689,000 | -423,000 | -1,462,000 | -963,000 | ||
Non-marketable securities | Cost method accounting | Other investments | ' | ' | ' | ' | ||
Gain (Loss) on Investments [Line Items] | ' | ' | ' | ' | ||
Gross gains on investment securities | 34,000 | 1,406,000 | 370,000 | 1,712,000 | ||
Gross losses on investment securities | ($3,952,000) | ($2,000) | ($4,300,000) | ($68,000) | ||
[1] | Includes realized gains on sales of available-for-sale securities that are recognized in the income statement. Unrealized gains on available-for-sale securities are recognized in other comprehensive income and not shown in the table above. The cost basis of available-for-sale securities sold is determined on a specific identification basis. |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||||
Deferred loan fee income | $89,000,000 | ' | $89,000,000 | ' | $77,000,000 | ||||
Loans modified in TDRs | 29,273,000 | ' | 29,273,000 | ' | 34,328,000 | ||||
Unfunded commitments available for funding | 400,000 | ' | 400,000 | ' | ' | ||||
Loans modified in TDRs during the period | 7,337,000 | [1] | 1,969,000 | [1] | 9,653,000 | [1] | 16,431,000 | [1] | ' |
Forgiveness Of Principal | ' | ' | ' | ' | ' | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | ' | ' | ' | 9,600,000 | ' | ||||
Payment Deferrals Granted | ' | ' | ' | ' | ' | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | $7,300,000 | $2,000,000 | $9,600,000 | $6,800,000 | ' | ||||
[1] | the three and nine months ended September 30, 2013, respectively. There were partial charge-offs of $1.1 million and $11.0 million, respectively, on loans classified as TDRs during the three and nine months ended September 30, 2012. |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Composition of Loans, Net of Unearned income (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | $9,824,982 | [1] | $8,946,933 | [1] |
Real estate secured loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,352,554 | 1,098,813 | ||
CommercialOtherFinancingReceivableexcludingPremiumWineandConsumer [Member] | Real Estate Secured Commercial Loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 28,233 | [2] | 0 | [2] |
Commercial Portfolio Segment | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 8,899,413 | 8,116,976 | ||
Commercial Portfolio Segment | Commercial Loans Receivable excluding Construction and Real Estate Secured | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 8,306,105 | 7,637,721 | ||
Consumer Portfolio Segment | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 925,569 | 829,957 | ||
Software | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 3,698,937 | 3,261,489 | ||
Hardware | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,141,297 | 1,118,370 | ||
Venture capital/private equity | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,932,822 | 1,732,699 | ||
Life science | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,096,440 | 1,066,199 | ||
Premium wine | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 641,934 | 557,024 | ||
Premium wine | Non-real Estate Secured Commercial Loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 149,257 | 143,511 | ||
Premium wine | Real Estate Secured Commercial Loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 492,677 | [3] | 413,513 | [3] |
Other | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 387,983 | 381,195 | ||
Other | Commercial Loans Receivable excluding Construction and Real Estate Secured | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 287,352 | 315,453 | ||
Other | Construction loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 72,398 | 65,742 | ||
Real estate secured loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 831,644 | [2] | 685,300 | [2] |
Consumer loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | $93,925 | $144,657 | ||
[1] | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. | |||
[2] | Consumer loans secured by real estate at September 30, 2013 and December 31, 2012 were comprised of the following:(Dollars in thousands) September 30, 2013 December 31, 2012Loans for personal residence $643,345 $503,378Loans to eligible employees 119,371 110,584Home equity lines of credit 68,928 71,338Consumer loans secured by real estate $831,644 $685,300 | |||
[3] | Included in our premium wine portfolio are gross construction loans of $132 million and $148 million at September 30, 2013 and December 31, 2012, respectively. |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Composition of Loans, Net of Unearned income (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | $9,824,982,000 | [1] | $8,946,933,000 | [1] |
Credit Card Receivable | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Total loan portfolio | 85,000,000 | 64,000,000 | ||
Real estate secured loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 831,644,000 | [2] | 685,300,000 | [2] |
Real estate secured loans | Loans for personal residence | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 643,345,000 | 503,378,000 | ||
Real estate secured loans | Loans to eligible employees | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 119,371,000 | 110,584,000 | ||
Real estate secured loans | Home equity lines of credit | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | 68,928,000 | 71,338,000 | ||
Premium wine | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Gross construction loans | 132,000,000 | 148,000,000 | ||
Loans, net of unearned income | 641,934,000 | 557,024,000 | ||
Consumer Portfolio Segment | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Loans, net of unearned income | $925,569,000 | $829,957,000 | ||
[1] | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. | |||
[2] | Consumer loans secured by real estate at September 30, 2013 and December 31, 2012 were comprised of the following:(Dollars in thousands) September 30, 2013 December 31, 2012Loans for personal residence $643,345 $503,378Loans to eligible employees 119,371 110,584Home equity lines of credit 68,928 71,338Consumer loans secured by real estate $831,644 $685,300 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Composition of Loans, Net of Unearned Income, Broken Out by Portfolio Segment and Class of Financing Receivable (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | $9,824,982 | [1] | $8,946,933 | [1] |
Commercial Portfolio Segment | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 8,899,413 | 8,116,976 | ||
Consumer Portfolio Segment | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 925,569 | 829,957 | ||
Software | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 3,698,937 | 3,261,489 | ||
Hardware | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,141,297 | 1,118,370 | ||
Venture capital/private equity | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,932,822 | 1,732,699 | ||
Life science | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 1,096,440 | 1,066,199 | ||
Premium wine | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 641,934 | 557,024 | ||
Other | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 387,983 | 381,195 | ||
Real estate secured loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | 831,644 | [2] | 685,300 | [2] |
Consumer loans | ' | ' | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ||
Loans, net of unearned income | $93,925 | $144,657 | ||
[1] | Included within our total loan portfolio are credit card loans of $85 million and $64 million at September 30, 2013 and December 31, 2012, respectively. | |||
[2] | Consumer loans secured by real estate at September 30, 2013 and December 31, 2012 were comprised of the following:(Dollars in thousands) September 30, 2013 December 31, 2012Loans for personal residence $643,345 $503,378Loans to eligible employees 119,371 110,584Home equity lines of credit 68,928 71,338Consumer loans secured by real estate $831,644 $685,300 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | $4,294 | $10,563 |
60 - 89 Days Past Due | 1,160 | 10,063 |
Greater Than 90 Days Past Due | 5,702 | 2,288 |
Total Past Due | 11,156 | 22,914 |
Current | 9,903,043 | 9,001,334 |
Loans Past Due 90 Days or More Still Accruing Interest | 24 | 19 |
Commercial loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 4,203 | 6,551 |
60 - 89 Days Past Due | 1,160 | 387 |
Greater Than 90 Days Past Due | 24 | 19 |
Total Past Due | 5,387 | 6,957 |
Current | 8,949,291 | 8,151,780 |
Loans Past Due 90 Days or More Still Accruing Interest | 24 | 19 |
Consumer loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 111 |
60 - 89 Days Past Due | 0 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 111 |
Current | 921,473 | 827,121 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Total gross loans excluding impaired loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 4,203 | 6,662 |
60 - 89 Days Past Due | 1,160 | 387 |
Greater Than 90 Days Past Due | 24 | 19 |
Total Past Due | 5,387 | 7,068 |
Current | 9,870,764 | 8,978,901 |
Loans Past Due 90 Days or More Still Accruing Interest | 24 | 19 |
Impaired loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 91 | 3,901 |
60 - 89 Days Past Due | 0 | 9,676 |
Greater Than 90 Days Past Due | 5,678 | 2,269 |
Total Past Due | 5,769 | 15,846 |
Current | 32,279 | 22,433 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Software | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 1,546 | 5,890 |
60 - 89 Days Past Due | 171 | 238 |
Greater Than 90 Days Past Due | 24 | 19 |
Total Past Due | 1,741 | 6,147 |
Current | 3,733,358 | 3,284,489 |
Loans Past Due 90 Days or More Still Accruing Interest | 24 | 19 |
Hardware | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 29 | 167 |
60 - 89 Days Past Due | 643 | 32 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 672 | 199 |
Current | 1,125,277 | 1,107,422 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Venture capital/private equity | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 4 | 7 |
60 - 89 Days Past Due | 0 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 4 | 7 |
Current | 1,953,111 | 1,749,896 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Life science | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 153 | 207 |
60 - 89 Days Past Due | 249 | 117 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 402 | 324 |
Current | 1,107,659 | 1,076,468 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Premium wine | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 2,400 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 2,400 | 0 |
Current | 640,741 | 554,886 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 71 | 280 |
60 - 89 Days Past Due | 97 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 168 | 280 |
Current | 389,145 | 378,619 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Real estate secured loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 0 |
60 - 89 Days Past Due | 0 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 828,401 | 683,254 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Consumer loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30 - 59 Days Past Due | 0 | 111 |
60 - 89 Days Past Due | 0 | 0 |
Greater Than 90 Days Past Due | 0 | 0 |
Total Past Due | 0 | 111 |
Current | 93,072 | 143,867 |
Loans Past Due 90 Days or More Still Accruing Interest | $0 | $0 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Impaired Loans and Allowance for Loan Losses, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | $38,048,000 | $38,279,000 | ||
Total unpaid principal of impaired loans (1) | 65,643,000 | [1] | 66,242,000 | [1] |
Total unpaid principal of impaired loans, previously reported | ' | 55,400,000 | ||
Commercial loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 33,898,000 | 34,939,000 | ||
Total unpaid principal of impaired loans (1) | 55,322,000 | [1] | 57,601,000 | [1] |
Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 4,150,000 | 3,340,000 | ||
Total unpaid principal of impaired loans (1) | 10,321,000 | [1] | 8,641,000 | [1] |
Software | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 3,041,000 | 3,263,000 | ||
Total unpaid principal of impaired loans (1) | 4,185,000 | [1] | 4,475,000 | [1] |
Hardware | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 27,446,000 | 21,863,000 | ||
Total unpaid principal of impaired loans (1) | 46,744,000 | [1] | 38,551,000 | [1] |
Venture capital/private equity | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 47,000 | 0 | ||
Total unpaid principal of impaired loans (1) | 47,000 | [1] | 0 | [1] |
Premium wine | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 1,476,000 | 4,398,000 | ||
Total unpaid principal of impaired loans (1) | 1,786,000 | [1] | 4,716,000 | [1] |
Other | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 1,888,000 | 5,415,000 | ||
Total unpaid principal of impaired loans (1) | 2,560,000 | [1] | 9,859,000 | [1] |
Real estate secured loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 3,339,000 | 2,239,000 | ||
Total unpaid principal of impaired loans (1) | 9,256,000 | [1] | 7,341,000 | [1] |
Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 811,000 | 1,101,000 | ||
Total unpaid principal of impaired loans (1) | 1,065,000 | [1] | 1,300,000 | [1] |
Impaired loans for which there is a related allowance for loan losses | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 30,524,000 | 26,155,000 | ||
Impaired loans for which there is a related allowance for loan losses | Commercial loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 29,713,000 | 25,054,000 | ||
Impaired loans for which there is a related allowance for loan losses | Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 811,000 | 1,101,000 | ||
Impaired loans for which there is a related allowance for loan losses | Software | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 3,041,000 | 3,191,000 | ||
Impaired loans for which there is a related allowance for loan losses | Hardware | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 25,891,000 | 21,863,000 | ||
Impaired loans for which there is a related allowance for loan losses | Venture capital/private equity | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 47,000 | 0 | ||
Impaired loans for which there is a related allowance for loan losses | Premium wine | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 0 | 0 | ||
Impaired loans for which there is a related allowance for loan losses | Other | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 734,000 | 0 | ||
Impaired loans for which there is a related allowance for loan losses | Real estate secured loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 0 | 0 | ||
Impaired loans for which there is a related allowance for loan losses | Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 811,000 | 1,101,000 | ||
Impaired loans for which there is no related allowance for loan losses | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 7,524,000 | 12,124,000 | ||
Impaired loans for which there is no related allowance for loan losses | Commercial loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 4,185,000 | 9,885,000 | ||
Impaired loans for which there is no related allowance for loan losses | Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 3,339,000 | 2,239,000 | ||
Impaired loans for which there is no related allowance for loan losses | Software | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 0 | 72,000 | ||
Impaired loans for which there is no related allowance for loan losses | Hardware | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 1,555,000 | 0 | ||
Impaired loans for which there is no related allowance for loan losses | Venture capital/private equity | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 0 | 0 | ||
Impaired loans for which there is no related allowance for loan losses | Premium wine | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 1,476,000 | 4,398,000 | ||
Impaired loans for which there is no related allowance for loan losses | Other | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 1,154,000 | 5,415,000 | ||
Impaired loans for which there is no related allowance for loan losses | Real estate secured loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | 3,339,000 | 2,239,000 | ||
Impaired loans for which there is no related allowance for loan losses | Consumer loans | ' | ' | ||
Financing Receivable, Impaired [Line Items] | ' | ' | ||
Carrying value of impaired loans | $0 | $0 | ||
[1] | The unpaid principal balances for hardware and real estate secured consumer loans as of December 31, 2012 have been corrected from previously reported amounts resulting in the total unpaid principal of impaired loans at December 31, 2012 changing from $55.4 million to $66.2 million. |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | $39,279 | $30,568 | $40,719 | $34,568 |
Commercial loans | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 34,987 | 26,891 | 36,307 | 26,449 |
Consumer loans | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 4,292 | 3,677 | 4,412 | 8,119 |
Software | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 4,306 | 2,689 | 4,631 | 2,040 |
Hardware | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 25,456 | 18,490 | 24,536 | 17,407 |
Venture capital/private equity | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 75 | 0 | 35 | 0 |
Life science | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 0 | 0 | 303 | 78 |
Premium wine | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 1,502 | 3,093 | 2,458 | 3,334 |
Other | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 3,648 | 2,619 | 4,344 | 3,590 |
Real estate secured loans | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | 3,426 | 2,411 | 3,391 | 5,967 |
Consumer loans | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Average impaired loans | $866 | $1,266 | $1,021 | $2,152 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses Broken out by Portfolio Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | $119,571 | $98,166 | $110,651 | $89,947 |
Charge-offs | -8,149 | -4,637 | -29,150 | -25,757 |
Recoveries | 2,674 | 1,207 | 8,210 | 8,018 |
Provision for (Reduction of) Loan Losses | 10,638 | 6,788 | 35,023 | 29,316 |
Ending Balance | 124,734 | 101,524 | 124,734 | 101,524 |
Commercial loans | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 112,767 | 90,263 | 103,413 | 82,366 |
Charge-offs | -8,149 | -4,637 | -28,281 | -25,150 |
Recoveries | 2,292 | 741 | 7,381 | 6,992 |
Provision for (Reduction of) Loan Losses | 11,633 | 7,787 | 36,030 | 29,946 |
Ending Balance | 118,543 | 94,154 | 118,543 | 94,154 |
Consumer loans | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 6,804 | 7,903 | 7,238 | 7,581 |
Charge-offs | 0 | 0 | -869 | -607 |
Recoveries | 382 | 466 | 829 | 1,026 |
Provision for (Reduction of) Loan Losses | -995 | -999 | -1,007 | -630 |
Ending Balance | 6,191 | 7,370 | 6,191 | 7,370 |
Software | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 46,798 | 37,981 | 42,648 | 38,263 |
Charge-offs | -2,527 | 0 | -7,619 | -2,977 |
Recoveries | 816 | 374 | 1,455 | 4,462 |
Provision for (Reduction of) Loan Losses | 4,369 | -1,110 | 12,972 | -2,503 |
Ending Balance | 49,456 | 37,245 | 49,456 | 37,245 |
Hardware | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 33,188 | 22,632 | 29,761 | 16,810 |
Charge-offs | -5,544 | -1,849 | -11,975 | -16,110 |
Recoveries | 1,149 | 106 | 1,998 | 540 |
Provision for (Reduction of) Loan Losses | 7,370 | 6,796 | 16,379 | 26,445 |
Ending Balance | 36,163 | 27,685 | 36,163 | 27,685 |
Venture capital/private equity | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 13,593 | 9,652 | 9,963 | 7,319 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for (Reduction of) Loan Losses | 617 | 991 | 4,247 | 3,324 |
Ending Balance | 14,210 | 10,643 | 14,210 | 10,643 |
Life science | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 11,741 | 11,660 | 13,606 | 10,243 |
Charge-offs | -57 | -2,781 | -2,618 | -3,016 |
Recoveries | 246 | 3 | 1,335 | 316 |
Provision for (Reduction of) Loan Losses | -780 | 3,281 | -1,173 | 4,620 |
Ending Balance | 11,150 | 12,163 | 11,150 | 12,163 |
Premium wine | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 3,793 | 3,396 | 3,523 | 3,914 |
Charge-offs | 0 | 0 | 0 | -584 |
Recoveries | 4 | 228 | 135 | 493 |
Provision for (Reduction of) Loan Losses | 81 | -463 | 220 | -662 |
Ending Balance | 3,878 | 3,161 | 3,878 | 3,161 |
Other | ' | ' | ' | ' |
Allowance for Loan and Lease Losses [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 3,654 | 4,942 | 3,912 | 5,817 |
Charge-offs | -21 | -7 | -6,069 | -2,463 |
Recoveries | 77 | 30 | 2,458 | 1,181 |
Provision for (Reduction of) Loan Losses | -24 | -1,708 | 3,385 | -1,278 |
Ending Balance | $3,686 | $3,257 | $3,686 | $3,257 |
Recovered_Sheet1
Loans and Allowance for Loan Losses - Allowance for Loan Losses Individually and Collectively Evaluated for Impairment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | $13,469 | $6,261 |
Collectively Evaluated for Impairment | 111,265 | 104,390 |
Commercial loans | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 13,282 | 6,013 |
Collectively Evaluated for Impairment | 105,261 | 97,400 |
Consumer loans | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 187 | 248 |
Collectively Evaluated for Impairment | 6,004 | 6,990 |
Software | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 705 | 762 |
Collectively Evaluated for Impairment | 48,751 | 41,886 |
Hardware | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 12,392 | 5,251 |
Collectively Evaluated for Impairment | 23,771 | 24,510 |
Venture capital/private equity | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 23 | 0 |
Collectively Evaluated for Impairment | 14,187 | 9,963 |
Life science | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 0 | 0 |
Collectively Evaluated for Impairment | 11,150 | 13,606 |
Premium wine | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 0 | 0 |
Collectively Evaluated for Impairment | 3,878 | 3,523 |
Other | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' |
Individually Evaluated for Impairment | 162 | 0 |
Collectively Evaluated for Impairment | $3,524 | $3,912 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Credit Quality Indicators, Broken out by Portfolio Segment and Class of Financing Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | $9,914,199 | $9,024,248 |
Commercial loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 8,988,575 | 8,193,676 |
Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 925,624 | 830,572 |
Software | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 3,738,141 | 3,293,899 |
Hardware | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,153,393 | 1,129,484 |
Venture capital/private equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,953,161 | 1,749,903 |
Life science | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,108,061 | 1,076,792 |
Premium wine | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 644,618 | 559,284 |
Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 391,201 | 384,314 |
Real estate secured loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 831,739 | 685,493 |
Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 93,885 | 145,079 |
Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 9,229,209 | 8,428,907 |
Pass | Commercial loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 8,318,025 | 7,632,178 |
Pass | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 911,184 | 796,729 |
Pass | Software | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 3,442,540 | 3,050,449 |
Pass | Hardware | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 904,312 | 970,802 |
Pass | Venture capital/private equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,952,680 | 1,748,663 |
Pass | Life science | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,019,522 | 956,276 |
Pass | Premium wine | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 632,438 | 545,697 |
Pass | Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 366,533 | 360,291 |
Pass | Real estate secured loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 822,148 | 663,911 |
Pass | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 89,036 | 132,818 |
Performing (Criticized) | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 646,942 | 557,062 |
Performing (Criticized) | Commercial loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 636,652 | 526,559 |
Performing (Criticized) | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 10,290 | 30,503 |
Performing (Criticized) | Software | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 292,560 | 240,187 |
Performing (Criticized) | Hardware | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 221,635 | 136,819 |
Performing (Criticized) | Venture capital/private equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 434 | 1,240 |
Performing (Criticized) | Life science | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 88,539 | 120,516 |
Performing (Criticized) | Premium wine | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 10,704 | 9,189 |
Performing (Criticized) | Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 22,780 | 18,608 |
Performing (Criticized) | Real estate secured loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 6,252 | 19,343 |
Performing (Criticized) | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 4,038 | 11,160 |
Impaired | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 38,048 | 38,279 |
Impaired | Commercial loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 33,898 | 34,939 |
Impaired | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 4,150 | 3,340 |
Impaired | Software | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 3,041 | 3,263 |
Impaired | Hardware | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 27,446 | 21,863 |
Impaired | Venture capital/private equity | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 47 | 0 |
Impaired | Life science | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 0 | 0 |
Impaired | Premium wine | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,476 | 4,398 |
Impaired | Other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 1,888 | 5,415 |
Impaired | Real estate secured loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | 3,339 | 2,239 |
Impaired | Consumer loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Financing receivable | $811 | $1,101 |
Recovered_Sheet3
Loans and Allowance for Loan Losses - Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | $29,273 | $34,328 |
Commercial loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 27,336 | 31,028 |
Consumer loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 1,937 | 3,300 |
Software | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 2,205 | 2,021 |
Hardware | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 21,284 | 20,514 |
Venture capital/private equity | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 88 | 0 |
Premium wine | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 1,476 | 2,593 |
Other | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 2,283 | 5,900 |
Real estate secured loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | 1,126 | 2,199 |
Consumer loans | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Loans modified in TDRs | $811 | $1,101 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - Recorded Investment in Loans Modified in TDRs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | $7,337,000 | [1] | $1,969,000 | [1] | $9,653,000 | [1] | $16,431,000 | [1] |
Loans classified as TDRs, charge-offs | 1,200,000 | 1,100,000 | 2,400,000 | 11,000,000 | ||||
Commercial loans | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 7,337,000 | 1,969,000 | 9,612,000 | 16,039,000 | ||||
Consumer loans | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 41,000 | 392,000 | ||||
Software | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 1,007,000 | 1,969,000 | 1,007,000 | 1,969,000 | ||||
Hardware | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 6,330,000 | 0 | 7,783,000 | 11,677,000 | ||||
Venture capital/private equity | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 88,000 | 0 | ||||
Premium wine | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 0 | 156,000 | ||||
Other | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 734,000 | 2,237,000 | ||||
Real estate secured loans | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 0 | 392,000 | ||||
Consumer loans | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 0 | 0 | 41,000 | 0 | ||||
Payment Deferrals Granted | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | 7,300,000 | 2,000,000 | 9,600,000 | 6,800,000 | ||||
Forgiveness Of Principal | ' | ' | ' | ' | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ||||
Loans modified in TDRs during the period | ' | ' | ' | $9,600,000 | ||||
[1] | the three and nine months ended September 30, 2013, respectively. There were partial charge-offs of $1.1 million and $11.0 million, respectively, on loans classified as TDRs during the three and nine months ended September 30, 2012. |
Recovered_Sheet5
Loans and Allowance for Loan Losses - Recorded Investment in Loans Modified in TDRs within Previous 12 months Subsequently Defaulted (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | $0 | $635 | $41 | $635 |
Commercial loans | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | 0 | 515 | 0 | 515 |
Consumer loans | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | 0 | 120 | 41 | 120 |
Software | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | 0 | 0 | 0 | 0 |
Hardware | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | 0 | 515 | 0 | 515 |
Premium wine | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | 0 | 0 | 0 | 0 |
Other | ' | ' | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' |
TDRs modified within the previous 12 months that defaulted in the period | $0 | ' | $0 | ' |
ShortTerm_Borrowings_and_LongT2
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Debt Disclosure [Line Items] | ' | ' | ' | ' |
Interest expense, debt | $5,747,000 | $5,788,000 | $17,358,000 | $18,414,000 |
Weighted average interest rates associated with short-term borrowings | 0.06% | ' | 0.06% | ' |
Federal Home Loan Bank Advances | San Francisco | ' | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' | ' |
Market value of collateral pledged | 1,400,000,000 | ' | 1,400,000,000 | ' |
Federal Reserve Bank Advances | ' | ' | ' | ' |
Debt Disclosure [Line Items] | ' | ' | ' | ' |
Market value of collateral pledged | $599,000,000 | ' | $599,000,000 | ' |
ShortTerm_Borrowings_and_LongT3
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Borrowings | $5,747 | $5,788 | $17,358 | $18,414 | ' | |||
Short-term borrowings | 5,580 | ' | 5,580 | ' | 166,110 | |||
Total long-term debt | 455,744 | ' | 455,744 | ' | 457,762 | |||
Federal Funds Purchased | ' | ' | ' | ' | ' | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Principal value | 0 | ' | 0 | ' | ' | |||
Short-term borrowings | 0 | ' | 0 | ' | 160,000 | |||
Other short-term borrowings | ' | ' | ' | ' | ' | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Principal value | 5,580 | [1] | ' | 5,580 | [1] | ' | ' | |
Short-term borrowings | 5,580 | [1] | ' | 5,580 | [1] | ' | 6,110 | [1] |
5.375% Senior Notes | ' | ' | ' | ' | ' | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Maturity | ' | ' | 15-Sep-20 | ' | ' | |||
Principal value | 350,000 | ' | 350,000 | ' | ' | |||
Senior Notes | 348,155 | ' | 348,155 | ' | 347,995 | |||
6.05% Subordinated Notes | ' | ' | ' | ' | ' | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Maturity | ' | ' | 1-Jun-17 | [2] | ' | ' | ||
Principal value | 45,964 | [2] | ' | 45,964 | [2] | ' | ' | |
Subordinated Notes | 52,524 | [2] | ' | 52,524 | [2] | ' | 54,571 | [2] |
7.0% Junior Subordinated Debentures | ' | ' | ' | ' | ' | |||
Debt Outstanding [Line Items] | ' | ' | ' | ' | ' | |||
Maturity | ' | ' | 15-Oct-33 | ' | ' | |||
Principal value | 50,000 | ' | 50,000 | ' | ' | |||
Junior Subordinated Debentures | $55,065 | ' | $55,065 | ' | $55,196 | |||
[1] | Represents cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes. | |||||||
[2] | At September 30, 2013 and December 31, 2012, included in the carrying value of our 6.05% Subordinated Notes were $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. |
ShortTerm_Borrowings_and_LongT4
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
5.375% Senior Notes | ' | ' |
Debt Outstanding [Line Items] | ' | ' |
Stated interest rate | 5.38% | 5.38% |
6.05% Subordinated Notes | ' | ' |
Debt Outstanding [Line Items] | ' | ' |
Stated interest rate | 6.05% | 6.05% |
Fair value of the interest rate swap associated with the notes | 7,000 | 9,000 |
6.05% Subordinated Notes | Interest rate swaps | ' | ' |
Debt Outstanding [Line Items] | ' | ' |
Fair value of the interest rate swap associated with the notes | 7,000 | 9,000 |
7.0% Junior Subordinated Debentures | ' | ' |
Debt Outstanding [Line Items] | ' | ' |
Stated interest rate | 7.00% | 7.00% |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) (Foreign Exchange Forward And Option Contracts, Upper Limit) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Sep. 30, 2013 | |
General maturity | Extended maturity | |
Derivative Instruments and Hedging Activities Disclosure [Line Items] | ' | ' |
Contract term | '1 year | '5 years |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Total Notional or Contractual Amounts, Fair Value, Collateral and Net Exposure of Derivative Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivative [Line Items] | ' | ' | ||
Fair Value | $102,317 | $84,829 | ||
Net Exposure | 96,737 | [1] | 78,719 | [1] |
Collateral | 5,580 | [2] | 6,110 | [2] |
Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 45,964 | 45,964 | ||
Fair Value | 7,027 | 9,005 | ||
Net Exposure | 1,447 | [1] | 2,895 | [1] |
Collateral | 5,580 | [2] | 6,110 | [2] |
Derivatives not designated as hedging instruments | Currency exchange risks | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Fair Value | 35 | -1,240 | ||
Net Exposure | 35 | [1] | -1,240 | [1] |
Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forwards | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 13,685 | 51,010 | ||
Fair Value | 789 | 488 | ||
Net Exposure | 789 | [1] | 488 | [1] |
Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forwards | Other liability | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 208,712 | 102,956 | ||
Fair Value | -754 | -1,728 | ||
Net Exposure | -754 | [1] | -1,728 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 180,861 | 164,332 | ||
Fair Value | 92,252 | 74,272 | ||
Net Exposure | 92,252 | [1] | 74,272 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Fair Value | 3,003 | 2,792 | ||
Net Exposure | 3,003 | [1] | 2,792 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Foreign exchange forwards | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 459,501 | 385,470 | ||
Fair Value | 17,492 | 11,864 | ||
Net Exposure | 17,492 | [1] | 11,864 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Foreign exchange forwards | Other liability | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 482,755 | 356,026 | ||
Fair Value | -16,073 | -9,930 | ||
Net Exposure | -16,073 | [1] | -9,930 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Client foreign currency options | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 80,400 | 132,237 | ||
Fair Value | 182 | 1,189 | ||
Net Exposure | 182 | [1] | 1,189 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Client foreign currency options | Other liability | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 80,400 | 132,237 | ||
Fair Value | -182 | -1,189 | ||
Net Exposure | -182 | [1] | -1,189 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Loan conversion options | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 8,877 | 9,782 | ||
Fair Value | 1,774 | 890 | ||
Net Exposure | 1,774 | [1] | 890 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Client interest rate derivatives | Other assets | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 185,770 | 144,950 | ||
Fair Value | 1,237 | 558 | ||
Net Exposure | 1,237 | [1] | 558 | [1] |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | Client interest rate derivatives | Other liability | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Notional or Contractual Amount | 185,770 | 144,950 | ||
Fair Value | -1,427 | -590 | ||
Net Exposure | ($1,427) | [1] | ($590) | [1] |
[1] | Net exposure for contracts in a gain position reflects the replacement cost in the event of nonperformance by all such counterparties. The credit ratings of our institutional counterparties as of September 30, 2013 remain at investment grade or higher and there were no material changes in their credit ratings during the three and nine months ended September 30, 2013. | |||
[2] | Cash collateral received from our counterparty for our interest rate swap agreement is recorded as a component of “short-term borrowings†on our consolidated balance sheets. |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Summary of Derivative Activity and Related Impact on Consolidated Statements of Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | ' | ' | $16,594 | $4,411 | ||
Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | -7 | 74 | 20 | 571 | ||
Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Interest expense—borrowings | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | 634 | 612 | 1,901 | 4,537 | ||
Derivatives designated as hedging instruments | Interest rate risks | Interest Rate Risk | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | 627 | 686 | 1,921 | 5,108 | ||
Derivatives not designated as hedging instruments | Currency exchange risks | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | -322 | 1,798 | -1,060 | 1,258 | ||
Derivatives not designated as hedging instruments | Currency exchange risks | Loans | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | ' | ' | 451 | 96 | ||
Derivatives not designated as hedging instruments | Currency exchange risks | Loans | Other noninterest income | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | 8,101 | 1,578 | ' | ' | ||
Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forwards | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | -8,423 | 220 | -1,511 | 1,162 | ||
Derivatives not designated as hedging instruments | Other derivative instruments | Foreign exchange forwards | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | 369 | 607 | 2,179 | 3,002 | ||
Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | 18,780 | 547 | 29,475 | 12,358 | ||
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivatives | ' | ' | ' | ' | ||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ||
Unrealized gain (loss) on derivatives | ($517) | [1] | ($337) | [1] | $55 | ($1,293) |
[1] | Primarily represents the change in fair value of loan conversion options. |
Derivative_Financial_Instrumen5
Derivative Financial Instruments - Master Netting Arrangements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | $194,796 | $156,683 |
Net Amounts of Assets Presented in the Statement of Financial Position | 194,753 | 156,461 |
Gross Assets Offset Under Master Netting Arrangements, Total | -43 | -222 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -174,321 | -144,195 |
Cash Collateral Received Subject to Master Netting Arrangements | -5,580 | -6,110 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 14,852 | 6,156 |
Gross Amounts of Recognized Liabilities | 18,479 | 13,659 |
Gross Amounts offset in the Statement of Financial Position | -43 | -222 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 18,436 | 13,437 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | -15,497 | -6,920 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 2,939 | 6,517 |
Derivative | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 26,770 | 23,326 |
Gross Amounts offset in the Statement of Financial Position | -43 | -222 |
Net Amounts of Assets Presented in the Statement of Financial Position | 26,727 | 23,104 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -6,295 | -10,838 |
Cash Collateral Received Subject to Master Netting Arrangements | -5,580 | -6,110 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 14,852 | 6,156 |
Gross Amounts of Recognized Liabilities | 18,479 | 13,659 |
Gross Amounts offset in the Statement of Financial Position | -43 | -222 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 18,436 | 13,437 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | -15,497 | -6,920 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 2,939 | 6,517 |
Derivative | Interest rate swaps | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 7,027 | 9,005 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 7,027 | 9,005 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -1,447 | -2,895 |
Cash Collateral Received Subject to Master Netting Arrangements | -5,580 | -6,110 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 0 | 0 |
Derivative | Foreign exchange forwards | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 18,281 | 12,352 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 18,281 | 12,352 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -4,777 | -7,363 |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 13,504 | 4,989 |
Gross Amounts of Recognized Liabilities | 16,827 | 11,658 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 16,827 | 11,658 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | -13,964 | -5,720 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 2,863 | 5,938 |
Derivative | Client foreign currency options | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 225 | 1,411 |
Gross Amounts offset in the Statement of Financial Position | -43 | -222 |
Net Amounts of Assets Presented in the Statement of Financial Position | 182 | 1,189 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -11 | -556 |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 171 | 633 |
Gross Amounts of Recognized Liabilities | 225 | 1,411 |
Gross Amounts offset in the Statement of Financial Position | -43 | -222 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 182 | 1,189 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | -171 | -633 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 11 | 556 |
Derivative | Client interest rate derivatives | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 1,237 | 558 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 1,237 | 558 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -60 | -24 |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 1,177 | 534 |
Gross Amounts of Recognized Liabilities | 1,427 | 590 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 1,427 | 590 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | -1,362 | -567 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 65 | 23 |
Reverse Repurchase Securities Borrowing And Similar Arrangements | ' | ' |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ' | ' |
Gross Amounts of Recognized Assets | 168,026 | 133,357 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 168,026 | 133,357 |
Gross Assets Subject To Master Netting Arrangement Not Offset | -168,026 | -133,357 |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 0 | 0 |
Gross Amounts of Recognized Liabilities | 0 | 0 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 0 | 0 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | 0 | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | $0 | $0 |
Other_Noninterest_Income_and_O2
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Other Income and Expenses [Abstract] | ' | ' | ' | ' | ||||
Unused commitment fees | $3,735 | $2,579 | $10,582 | $9,312 | ||||
Fund management fees | 2,822 | 2,496 | 8,531 | 8,448 | ||||
Service-based fee income (1) | 1,901 | [1] | 1,651 | [1] | 5,706 | [1] | 6,197 | [1] |
(Losses) gains on revaluation of foreign currency instruments | 8,101 | [2] | 1,578 | [2] | 451 | [2] | 96 | [2] |
Currency revaluation (losses) gains | -32 | [3] | 845 | [3] | -7 | [3] | -88 | [3] |
Other | 4,797 | 2,921 | 11,068 | 8,104 | ||||
Total other noninterest income | 22,426 | 13,423 | 38,183 | 39,165 | ||||
Gain on the sale of certain assets related to our equity services management business | 0 | 0 | 0 | 4,243 | ||||
Loan Syndication Fees | $1,102 | $1,353 | $1,852 | $2,853 | ||||
[1] | Includes income from SVB Analytics. | |||||||
[2] | Represents the revaluation of foreign currency denominated financial instruments issued and held by us, primarily loans, deposits and cash. | |||||||
[3] | Primarily represents the revaluation of foreign currency denominated investments in certain funds. Included in these amounts are losses of $0.1 million and gains of $0.1 million for the three and nine months ended September 30, 2013, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. This compares to gains of $0.8 million and losses of $3.0 thousand for the comparable 2012 periods. |
Other_Noninterest_Income_and_O3
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Income (Parenthetical) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income and Expenses [Abstract] | ' | ' | ' | ' |
Foreign Currency Transaction Unrealized Gain Loss Other Instruments Attributable To Noncontrolling Interests | ($0.10) | ($0.80) | $0.10 | $0 |
Other_Noninterest_Income_and_O4
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income and Expenses [Abstract] | ' | ' | ' | ' |
Telephone | $1,571 | $1,619 | $4,640 | $4,950 |
Client services | 1,920 | 1,804 | 5,711 | 4,796 |
Data processing services | 2,020 | 1,575 | 5,814 | 4,290 |
Tax credit fund amortization | 1,519 | 941 | 4,174 | 2,961 |
Postage and supplies | 559 | 591 | 1,777 | 1,844 |
Dues and publications | 399 | 472 | 1,302 | 1,503 |
Other | 2,661 | 1,961 | 6,855 | 5,844 |
Total other noninterest expense | $10,649 | $8,963 | $30,273 | $26,188 |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of reportable segments | ' | ' | 3 | ' |
Global Commercial Bank | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $5.60 | $4.50 | $16 | $11.60 |
Segment_Reporting_Segment_Info
Segment Reporting - Segment Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Net interest income | $177,096 | $154,430 | $510,346 | $457,301 | ||||
Provision for loan losses | -10,638 | -6,788 | -35,023 | -29,316 | ||||
Noninterest income | 257,650 | 69,139 | 434,493 | 208,858 | ||||
Noninterest expense | -160,524 | [1] | -135,171 | [1] | -452,830 | -402,949 | ||
Income before income tax expense | 263,584 | [2] | 81,610 | [2] | 456,986 | [2] | 233,894 | [2] |
Total average loans, net of unearned income | 9,545,941 | 7,907,606 | 9,086,179 | 7,318,537 | ||||
Total average assets | 23,072,734 | [3] | 21,727,197 | [3] | 22,496,092 | 20,953,041 | ||
Total average deposits | 19,559,888 | 18,260,344 | 18,989,360 | 17,547,194 | ||||
Global Commercial Bank | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Net interest income | 162,781 | [4] | 151,858 | [4] | 466,303 | 441,542 | ||
Provision for loan losses | -11,633 | [4] | -7,787 | [4] | -36,030 | -29,946 | ||
Noninterest income | 50,814 | [4] | 46,965 | [4] | 145,716 | 139,387 | ||
Noninterest expense | -109,088 | [1],[4] | -98,064 | [1],[4] | -316,949 | -293,193 | ||
Income before income tax expense | 92,874 | [2],[4] | 92,972 | [2],[4] | 259,040 | [2],[4] | 257,790 | [2],[4] |
Total average loans, net of unearned income | 8,683,784 | [4] | 7,159,609 | [4] | 8,274,380 | 6,559,036 | ||
Total average assets | 21,331,760 | [3],[4] | 19,860,340 | [3],[4] | 20,723,037 | 19,149,134 | ||
Total average deposits | 18,994,576 | [4] | 17,881,175 | [4] | 18,480,757 | 17,240,715 | ||
SVB Private Bank | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Net interest income | 6,195 | 5,666 | 18,226 | 16,147 | ||||
Provision for loan losses | 995 | 999 | 1,007 | 630 | ||||
Noninterest income | 380 | 149 | 867 | 457 | ||||
Noninterest expense | -3,960 | [1] | -3,603 | [1] | -10,882 | -9,952 | ||
Income before income tax expense | 3,610 | [2] | 3,211 | [2] | 9,218 | [2] | 7,282 | [2] |
Total average loans, net of unearned income | 942,411 | 755,001 | 886,679 | 745,069 | ||||
Total average assets | 1,002,718 | [3] | 758,988 | [3] | 914,515 | 749,500 | ||
Total average deposits | 535,611 | 341,537 | 493,204 | 278,736 | ||||
SVB Capital | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Net interest income | 1 | [4] | 6 | [4] | 5 | 22 | ||
Provision for loan losses | 0 | [4] | 0 | [4] | 0 | 0 | ||
Noninterest income | 35,457 | [4] | 4,330 | [4] | 48,179 | 12,474 | ||
Noninterest expense | -2,728 | [1],[4] | -3,562 | [1],[4] | -7,871 | -8,970 | ||
Income before income tax expense | 32,730 | [2],[4] | 774 | [2],[4] | 40,313 | [2],[4] | 3,526 | [2],[4] |
Total average loans, net of unearned income | 0 | [4] | 0 | [4] | 0 | 0 | ||
Total average assets | 329,680 | [3],[4] | 238,595 | [3],[4] | 277,136 | 243,124 | ||
Total average deposits | 0 | [4] | 0 | [4] | 0 | 0 | ||
Other Items | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||||
Net interest income | 8,119 | -3,100 | 25,812 | -410 | ||||
Provision for loan losses | 0 | 0 | 0 | 0 | ||||
Noninterest income | 170,999 | 17,695 | 239,731 | 56,540 | ||||
Noninterest expense | -44,748 | [1] | -29,942 | [1] | -117,128 | [1] | -90,834 | [1] |
Income before income tax expense | 134,370 | [2] | -15,347 | [2] | 148,415 | [2] | -34,704 | [2] |
Total average loans, net of unearned income | -80,254 | -7,004 | -74,880 | 14,432 | ||||
Total average assets | 408,576 | [3] | 869,274 | [3] | 581,404 | [3] | 811,283 | [3] |
Total average deposits | $29,701 | $37,632 | $15,399 | $27,743 | ||||
[1] | The Global Commercial Bank segment includes direct depreciation and amortization of $5.6 million and $4.5 million for the three months ended September 30, 2013 and 2012, respectively, and $16.0 million and $11.6 million for the nine months ended September 30, 2013 and 2012, respectively. | |||||||
[2] | 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. | |||||||
[3] | Total average assets equals the greater of total average assets or the sum of total liabilities and total stockholders’ equity for each segment. | |||||||
[4] | 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. |
Segment_Reporting_Segment_Info1
Segment Reporting - Segment Information (Parenthetical) (Detail) (Global Commercial Bank, USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Global Commercial Bank | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $5.60 | $4.50 | $16 | $11.60 |
OffBalance_Sheet_Arrangements_2
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary Information Related to Commitments to Extend Credit (Excluding Letters of Credit) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ' | ' | ||
Fixed interest rate commitments | $1,222,651 | [1] | $862,120 | [1] |
Variable interest rate commitments | 8,571,795 | [1] | 6,906,580 | [1] |
Total loan commitments available for funding | 9,794,446 | [1] | 7,768,700 | [1] |
Commercial and standby letters of credit | 881,123 | [2] | 842,091 | [2] |
Total unfunded credit commitments | 10,675,569 | 8,610,791 | ||
Commitments unavailable for funding | 1,340,102 | [3] | 1,315,072 | [3] |
Maximum lending limits for accounts receivable factoring arrangements | 873,502 | [4] | 880,057 | [4] |
Reserve for unfunded credit commitments | $28,456 | [5] | $22,299 | [5] |
[1] | Represents commitments which are available for funding, due to clients meeting all collateral, compliance and financial covenants required under loan commitment agreements. | |||
[2] | See below for additional information on our commercial and standby letters of credit. | |||
[3] | Represents commitments which are currently unavailable for funding, due to clients failing to meet all collateral, compliance and financial covenants under loan commitment agreements. | |||
[4] | We extend credit under accounts receivable factoring arrangements when our clients’ sales invoices are deemed creditworthy under existing underwriting practices. | |||
[5] | Our reserve for unfunded credit commitments includes an allowance for both our unfunded loan commitments and our letters of credit. |
OffBalance_Sheet_Arrangements_3
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary of Commercial and Standby Letters of Credit (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Guarantor Obligations [Line Items] | ' | ' | ||
Expires In One Year or Less | $818,563 | ' | ||
Expires After One Year | 62,560 | ' | ||
Total Amount Outstanding | 881,123 | [1] | 842,091 | [1] |
Maximum Amount of Future Payments | 881,123 | ' | ||
Financial standby letters of credit | ' | ' | ||
Guarantor Obligations [Line Items] | ' | ' | ||
Expires In One Year or Less | 760,135 | ' | ||
Expires After One Year | 52,889 | ' | ||
Total Amount Outstanding | 813,024 | ' | ||
Maximum Amount of Future Payments | 813,024 | ' | ||
Performance standby letters of credit | ' | ' | ||
Guarantor Obligations [Line Items] | ' | ' | ||
Expires In One Year or Less | 52,594 | ' | ||
Expires After One Year | 9,671 | ' | ||
Total Amount Outstanding | 62,265 | ' | ||
Maximum Amount of Future Payments | 62,265 | ' | ||
Commercial letters of credit | ' | ' | ||
Guarantor Obligations [Line Items] | ' | ' | ||
Expires In One Year or Less | 5,834 | ' | ||
Expires After One Year | 0 | ' | ||
Total Amount Outstanding | 5,834 | ' | ||
Maximum Amount of Future Payments | $5,834 | ' | ||
[1] | See below for additional information on our commercial and standby letters of credit. |
OffBalance_Sheet_Arrangements_4
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Additional Information (Detail) (USD $) | 9 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Standby Letter of Credit | Standby Letter of Credit | |
Lower Limit | Upper Limit | ||||
Commitments and Contingencies Disclosure [Line Items] | ' | ' | ' | ' | ' |
Deferred fees | ' | ' | ' | $8.30 | $5.50 |
Collateral in the form of cash | ' | ' | ' | 341 | ' |
Collateral in the form of investment securities | ' | ' | ' | $5.70 | ' |
Commitments to invest, period from the inception of the fund | '10 years | ' | ' | ' | ' |
Expected commitment period to invest in venture capital and private equity funds (in years) | ' | '5 years | '7 years | ' | ' |
OffBalance_Sheet_Arrangements_5
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Total Capital Commitments, Unfunded Capital Commitments, and Our Ownership in Each Fund (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | $434,754 | |
SVB Strategic Investors Fund, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 2,298 | |
SVB Strategic Investors Fund II, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 7,501 | |
SVB Strategic Investors Fund III, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 25,575 | |
SVB Strategic Investors Fund IV, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 68,836 | |
Strategic Investors Fund V Funds | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 253,323 | |
Strategic Investors Fund VI Funds | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 49,277 | |
SVB Capital Preferred Return Fund, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 11,326 | |
SVB Capital—NT Growth Partners, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 12,651 | |
Other private equity fund | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Unfunded Commitments | 3,967 | |
Parent Company | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 507,342 | |
SVBFG Unfunded Commitments | 75,417 | |
Parent Company | Silicon Valley BancVentures, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 6,000 | |
SVBFG Unfunded Commitments | 270 | |
SVBFG Ownership of each Fund | 10.70% | |
Parent Company | SVB Capital Partners II, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 1,200 | [1] |
SVBFG Unfunded Commitments | 162 | [1] |
SVBFG Ownership of each Fund | 5.10% | [1] |
Parent Company | SVB Capital Shanghai Yangpu Venture Capital Fund | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 948 | |
SVBFG Unfunded Commitments | 163 | |
SVBFG Ownership of each Fund | 6.80% | |
Parent Company | SVB Strategic Investors Fund, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 15,300 | |
SVBFG Unfunded Commitments | 688 | |
SVBFG Ownership of each Fund | 12.60% | |
Parent Company | SVB Strategic Investors Fund II, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 15,000 | |
SVBFG Unfunded Commitments | 1,050 | |
SVBFG Ownership of each Fund | 8.60% | |
Parent Company | SVB Strategic Investors Fund III, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 15,000 | |
SVBFG Unfunded Commitments | 1,688 | |
SVBFG Ownership of each Fund | 5.90% | |
Parent Company | SVB Strategic Investors Fund IV, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 12,239 | |
SVBFG Unfunded Commitments | 3,060 | |
SVBFG Ownership of each Fund | 5.00% | |
Parent Company | Strategic Investors Fund V Funds | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 515 | |
SVBFG Unfunded Commitments | 353 | |
Parent Company | Strategic Investors Fund VI Funds | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 500 | |
SVBFG Unfunded Commitments | 483 | |
SVBFG Ownership of each Fund | 0.20% | |
Parent Company | SVB Capital Preferred Return Fund, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 12,688 | |
SVBFG Unfunded Commitments | 0 | |
SVBFG Ownership of each Fund | 20.00% | |
Parent Company | SVB Capital—NT Growth Partners, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 24,670 | |
SVBFG Unfunded Commitments | 1,340 | |
SVBFG Ownership of each Fund | 33.00% | |
Parent Company | Other private equity fund | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 9,338 | [2] |
SVBFG Unfunded Commitments | 0 | [2] |
SVBFG Ownership of each Fund | 58.20% | [2] |
Parent Company | Partners for Growth, LP | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 25,000 | |
SVBFG Unfunded Commitments | 9,750 | |
SVBFG Ownership of each Fund | 50.00% | |
Parent Company | Debt funds (equity method accounting) | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 65,253 | |
SVBFG Unfunded Commitments | 4,950 | |
Parent Company | Other fund investments | ' | |
Venture Capital and Private Equity Fund Investments [Line Items] | ' | |
SVBFG Capital Commitments | 303,691 | [3] |
SVBFG Unfunded Commitments | $51,460 | [3] |
[1] | Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in SVB Strategic Investors Fund II, LP. | |
[2] | Our ownership includes direct ownership of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital - NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |
[3] | Represents commitments to 298 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. |
OffBalance_Sheet_Arrangements_6
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Total Capital Commitments, Unfunded Capital Commitments, and Our Ownership in Each Fund (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Dec. 31, 2012 | |||
SVB Capital Partners II, LP | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 5.10% | [1] | 5.10% | [1] |
SVB Capital Partners II, LP | Fair value accounting | Direct ownership interest | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 1.30% | ' | ||
SVB Capital Partners II, LP | Fair value accounting | Indirect ownership interest | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 3.80% | ' | ||
Other private equity fund | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 58.20% | [2] | 58.20% | [2] |
Other private equity fund | Fair value accounting | Direct ownership interest | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 41.50% | ' | ||
Gold Hill Venture Lending 03, LP | Equity method accounting | Other investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 9.30% | [3] | 9.30% | [3] |
Gold Hill Venture Lending 03, LP | Equity method accounting | Direct ownership interest | Other investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 4.80% | ' | ||
Gold Hill Venture Lending 03, LP | Equity method accounting | Indirect ownership interest | Other investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 4.50% | ' | ||
Other fund investments | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Number of other funds with investment commitments | 298 | ' | ||
Upper Limit | Other fund investments | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 5.00% | ' | ||
SVB Capital—NT Growth Partners, LP | Other private equity fund | Fair value accounting | Indirect ownership interest | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 12.60% | ' | ||
SVB Capital Preferred Return Fund, LP | Other private equity fund | Fair value accounting | Indirect ownership interest | Venture capital and private equity fund investments | ' | ' | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ' | ' | ||
Percentage of ownership | 4.10% | ' | ||
[1] | At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP. | |||
[2] | At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||
[3] | At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLCâ€) of 4.5 percent. |
OffBalance_Sheet_Arrangements_7
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Remaining Unfunded Commitments to Venture Capital or Private Equity Funds by our Consolidated Managed Funds (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | $434,754 |
SVB Strategic Investors Fund, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 2,298 |
SVB Strategic Investors Fund II, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 7,501 |
SVB Strategic Investors Fund III, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 25,575 |
SVB Strategic Investors Fund IV, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 68,836 |
Strategic Investors Fund V Funds | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 253,323 |
Strategic Investors Fund VI Funds | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 49,277 |
SVB Capital Preferred Return Fund, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 11,326 |
SVB Capital—NT Growth Partners, LP | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | 12,651 |
Other private equity fund | ' |
Commitments and Contingencies Disclosure [Line Items] | ' |
SVBFG Unfunded Commitments | $3,967 |
Income_Taxes_Detail
Income Taxes (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Federal tax | State tax | ||
Income Tax Examination [Line Items] | ' | ' | ' |
SVBOneTimePriorPeriodTaxAdjustment | $2.90 | ' | ' |
Tax years open to examination | ' | 'Our U.S. federal tax returns for 2010 and subsequent years remain open to examination | ' Our California tax returns for 2008 and subsequent tax years remain open to examination. Massachusetts tax returns for 2008, 2010 and subsequent years remain open to examination |
Unrecognized tax benefit | 0.5 | ' | ' |
Reduction in income tax expense resulting from recognition of unrecognized tax benefit | $0.30 | ' | ' |
Income_Taxes_SVB_One_Time_Prio
Income Taxes SVB One Time Prior Period Tax Adjustment (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
SVBOneTimePriorPeriodTaxAdjustment [Abstract] | ' |
SVBOneTimePriorPeriodTaxAdjustment | $2.90 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | $10,209,917 | $11,343,177 | ||
Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 7,027 | 9,005 | ||
Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant asset | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 92,252 | 74,272 | ||
Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 773,499 | [1] | 665,921 | [1] |
Fair value accounting | Other venture capital investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 55,359 | [2] | 127,091 | [2] |
Fair value accounting | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 219,600 | [3] | 0 | [3] |
U.S. treasury securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 25,247 | ||
U.S. agency debentures | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,624,820 | 3,447,628 | ||
Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,518,698 | 1,473,433 | ||
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,247,477 | 4,103,974 | ||
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,289,850 | 1,772,748 | ||
Agency-issued commercial mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 435,932 | 422,098 | ||
Municipal bonds and notes | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 86,579 | 93,529 | ||
Equity securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 6,561 | 4,520 | ||
Fair Value, Measurements, Recurring | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 10,209,917 | 11,343,177 | ||
Other assets - marketable securities | ' | 10,328 | ||
Total assets | 11,379,128 | [4] | 12,244,783 | [5] |
Total liabilities | 18,436 | 13,437 | ||
Fair Value, Measurements, Recurring | Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 7,027 | 9,005 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Currency exchange risks | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 18,463 | 13,541 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Currency exchange risks | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 17,009 | 12,847 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant asset | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 92,252 | 74,272 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Loan conversion options | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 1,774 | 890 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 1,237 | 558 | ||
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 1,427 | 590 | ||
Fair Value, Measurements, Recurring | Fair value accounting | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 1,048,458 | 793,012 | ||
Fair Value, Measurements, Recurring | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 773,499 | 665,921 | ||
Fair Value, Measurements, Recurring | Fair value accounting | Other venture capital investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 55,359 | 127,091 | ||
Fair Value, Measurements, Recurring | Fair value accounting | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 219,600 | ' | ||
Fair Value, Measurements, Recurring | U.S. treasury securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 25,247 | ||
Fair Value, Measurements, Recurring | U.S. agency debentures | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,624,820 | 3,447,628 | ||
Fair Value, Measurements, Recurring | Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,518,698 | 1,473,433 | ||
Fair Value, Measurements, Recurring | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,247,477 | 4,103,974 | ||
Fair Value, Measurements, Recurring | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,289,850 | 1,772,748 | ||
Fair Value, Measurements, Recurring | Agency-issued commercial mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 435,932 | 422,098 | ||
Fair Value, Measurements, Recurring | Municipal bonds and notes | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 86,579 | 93,529 | ||
Fair Value, Measurements, Recurring | Equity securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 6,561 | 4,520 | ||
Fair Value, Measurements, Recurring | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 4,021 | 4,520 | ||
Other assets - marketable securities | ' | 1,144 | ||
Total assets | 6,567 | [4] | 5,664 | [5] |
Total liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Currency exchange risks | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Currency exchange risks | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant asset | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Other derivative instruments | Loan conversion options | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Fair value accounting | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 2,546 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Fair value accounting | Other venture capital investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Fair value accounting | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 2,546 | ' | ||
Fair Value, Measurements, Recurring | Level 1 | U.S. treasury securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | U.S. agency debentures | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Agency-issued commercial mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Municipal bonds and notes | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 1 | Equity securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 4,021 | 4,520 | ||
Fair Value, Measurements, Recurring | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 10,205,896 | 11,338,657 | ||
Other assets - marketable securities | ' | 9,184 | ||
Total assets | 10,238,523 | [4] | 11,379,978 | [5] |
Total liabilities | 18,436 | 13,437 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 7,027 | 9,005 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Currency exchange risks | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 18,463 | 13,541 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Currency exchange risks | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 17,009 | 12,847 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant asset | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 4,126 | 8,143 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Loan conversion options | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 1,774 | 890 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 1,237 | 558 | ||
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 1,427 | 590 | ||
Fair Value, Measurements, Recurring | Level 2 | Fair value accounting | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | Fair value accounting | Other venture capital investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 2 | Fair value accounting | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 0 | ' | ||
Fair Value, Measurements, Recurring | Level 2 | U.S. treasury securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 25,247 | ||
Fair Value, Measurements, Recurring | Level 2 | U.S. agency debentures | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,624,820 | 3,447,628 | ||
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,518,698 | 1,473,433 | ||
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 3,247,477 | 4,103,974 | ||
Fair Value, Measurements, Recurring | Level 2 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 1,289,850 | 1,772,748 | ||
Fair Value, Measurements, Recurring | Level 2 | Agency-issued commercial mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 435,932 | 422,098 | ||
Fair Value, Measurements, Recurring | Level 2 | Municipal bonds and notes | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 86,579 | 93,529 | ||
Fair Value, Measurements, Recurring | Level 2 | Equity securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 2,540 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Other assets - marketable securities | ' | 0 | ||
Total assets | 1,134,038 | [4] | 859,141 | [5] |
Total liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Currency exchange risks | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Currency exchange risks | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant asset | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 88,126 | 66,129 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Other derivative instruments | Loan conversion options | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair Value, Assets | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Other derivative instruments | Client interest rate derivatives | Other liability | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value, Liabilities | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 1,045,912 | 793,012 | ||
Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 773,499 | 665,921 | ||
Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | Other venture capital investments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Non-marketable securities | 55,359 | 127,091 | ||
Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | Other Securities [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
OtherSecuritiesFairValueAccounting | 217,054 | ' | ||
Fair Value, Measurements, Recurring | Level 3 | U.S. treasury securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | U.S. agency debentures | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities | Agency-issued mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Agency-issued commercial mortgage-backed securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Municipal bonds and notes | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Fair Value, Measurements, Recurring | Level 3 | Equity securities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Carrying Value | 0 | 0 | ||
Noncontrolling Interests | Fair Value, Measurements, Recurring | Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total assets | 2,400 | 1,100 | ||
Noncontrolling Interests | Fair Value, Measurements, Recurring | Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total assets | ' | 8,700 | ||
Noncontrolling Interests | Fair Value, Measurements, Recurring | Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total assets | $953,000 | $708,000 | ||
[1] | The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %SVB Strategic Investors Fund, LP $30,265 12.6% $32,850 12.6%SVB Strategic Investors Fund II, LP 96,595 8.6 91,294 8.6SVB Strategic Investors Fund III, LP 226,123 5.9 209,696 5.9SVB Strategic Investors Fund IV, LP 209,368 5.0 169,931 5.0Strategic Investors Fund V Funds 89,410 Various 40,622 VariousStrategic Investors Fund VI Funds 4,681 0.2 — —SVB Capital Preferred Return Fund, LP 55,721 20.0 53,643 20.0SVB Capital—NT Growth Partners, LP 55,836 33.0 60,120 33.0SVB Capital Partners II, LP (i) 716 5.1 1,303 5.1Other private equity fund (ii) 4,784 58.2 6,462 58.2Total venture capital and private equity fund investments $773,499 $665,921 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership interest of SVB Strategic Investors Fund II, LP.(ii)At September 30, 2013, we had a direct ownership interest of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital—NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | |||
[2] | The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage of each fund at September 30, 2013 and December 31, 2012 (fair value accounting): September 30, 2013 December 31, 2012(Dollars in thousands) Amount Ownership % Amount Ownership %Silicon Valley BancVentures, LP $7,383 10.7% $43,493 10.7%SVB Capital Partners II, LP (i) 43,682 5.1 79,761 5.1SVB Capital Shanghai Yangpu Venture Capital Fund 4,294 6.8 3,837 6.8Total other venture capital investments $55,359 $127,091 (i)At September 30, 2013, we had a direct ownership interest of 1.3 percent and an indirect ownership interest of 3.8 percent in the fund through our ownership of SVB Strategic Investors Fund II, LP. | |||
[3] | Investments classified as other securities (fair value accounting) represent certain direct equity investments in public companies held by our consolidated funds. | |||
[4] | Included in Level 1 and Level 3 assets are $2.4 million and $953 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. | |||
[5] | Included in Level 1, Level 2, and Level 3 assets are $1.1 million, $8.7 million, and $708 million, respectively, attributable to noncontrolling interests calculated based on the ownership percentages of the noncontrolling interests. |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Additional Information about Level 3 Assets Measured at Fair Value on a Recurring Basis (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | ||||||||
Equity warrant assets | Equity warrant assets | Equity warrant assets | Equity warrant assets | Fair value accounting | Fair value accounting | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Non-marketable securities | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | Fair Value, Measurements, Recurring | |||||||||||||
Other assets | Other assets | Other assets | Other assets | Other venture capital investments | Other venture capital investments | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Fair value accounting | Level 3 | |||||||||||||
Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Venture capital and private equity fund investments | Other venture capital investments | Other venture capital investments | Other venture capital investments | Other venture capital investments | Other investments | Other investments | Other Securities [Member] | Other Securities [Member] | Fair value accounting | |||||||||||||||||||||||
Other Securities [Member] | |||||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Beginning Balance | $938,244 | $828,326 | $859,141 | $799,962 | $73,229 | [1] | $68,619 | [1] | $66,129 | $63,030 | $55,359 | $127,091 | $865,015 | [2] | $759,707 | [2] | $793,012 | [2] | $736,932 | [2] | $741,522 | $639,596 | $665,921 | $611,824 | $123,493 | $120,111 | $127,091 | $124,121 | $0 | $987 | $0 | $0 | $217,054 | ||
Total Realized and Unrealized Gains (Losses) Included in Income | -200,334 | -14,563 | -265,748 | -43,766 | -18,215 | [1] | 800 | [1] | -26,142 | -8,848 | ' | ' | -182,119 | [2] | -15,363 | [2] | -239,606 | [2] | -34,918 | [2] | -34,288 | -12,104 | -90,526 | -38,765 | -4,530 | -3,259 | -5,779 | 3,868 | 0 | -21 | -143,301 | -143,301 | ' | ||
Purchases | 42,720 | 36,045 | 108,232 | 99,061 | 0 | [1] | 0 | [1] | 0 | 0 | ' | ' | 42,720 | [2] | 36,045 | [2] | 108,232 | [2] | 99,061 | [2] | 41,704 | 35,092 | 107,022 | 90,173 | 1,016 | 953 | 1,210 | 8,888 | 0 | 0 | 0 | 0 | ' | ||
Sales | -6,362 | -11,156 | -11,186 | -25,113 | -6,366 | [1] | -5,954 | [1] | -10,805 | -15,672 | ' | ' | 4 | [2] | -5,202 | [2] | -381 | [2] | -9,441 | [2] | 0 | 0 | 0 | 0 | 4 | -5,202 | -381 | -9,441 | 0 | 0 | 0 | 0 | ' | ||
Issuances | 2,995 | 2,994 | 7,309 | 9,167 | 2,995 | [1] | 2,994 | [1] | 7,309 | 9,167 | ' | ' | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ||
Distributions and Other Settlements | -43,581 | -27,904 | -89,253 | -82,865 | 365 | [1] | 0 | [1] | 1,743 | 1 | ' | ' | -43,946 | [2] | -27,904 | [2] | -90,996 | [2] | -82,866 | [2] | -44,015 | -28,383 | -89,970 | -82,353 | -73,684 | 479 | -74,779 | 495 | 0 | -1,008 | 73,753 | 73,753 | ' | ||
Transfers Into Level 3 | 0 | 0 | 0 | 0 | 0 | [1] | 0 | [1] | 0 | 0 | ' | ' | 0 | [2] | 0 | [2] | 0 | [2] | 0 | [2] | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ||
Transfers Out of Level 3 | -312 | -1,146 | -5,953 | -2,256 | -312 | [1] | -168 | [1] | -2,392 | -683 | ' | ' | 0 | [2] | -978 | [2] | -3,561 | [2] | -1,573 | [2] | 0 | 0 | 0 | 0 | 0 | -978 | -3,561 | -1,573 | 0 | 0 | 0 | 0 | ' | ||
Ending Balance | $1,134,038 | $841,722 | $1,134,038 | $841,722 | $88,126 | [1] | $64,691 | [1] | $88,126 | [1] | $64,691 | [1] | $55,359 | $127,091 | $1,045,912 | [2] | $777,031 | [2] | $1,045,912 | [2] | $777,031 | [2] | $773,499 | $658,409 | $773,499 | $658,409 | $55,359 | $118,622 | $55,359 | $118,622 | $0 | $0 | $217,054 | $217,054 | $217,054 |
[1] | Realized and unrealized gains (losses) are recorded on the line item “gains on derivative instruments, netâ€, a component of noninterest income. | ||||||||||||||||||||||||||||||||||
[2] | Realized and unrealized gains (losses) are recorded on the line items “gains on investment securities, netâ€, and “other noninterest incomeâ€, components of noninterest income. |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Unrealized Gains Included in Earnings Attributable to Level 3 Assets Held (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | $194,803 | $9,281 | $258,514 | $40,588 |
Unrealized gains attributable to noncontrolling interests | 164,871 | 9,543 | 215,340 | 37,445 |
Equity warrant assets | Other assets | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | 14,205 | -2,480 | 19,788 | -2,505 |
Non-marketable securities | Fair value accounting | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | 180,598 | 11,761 | 238,726 | 43,093 |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | 32,694 | 12,724 | 89,705 | 38,916 |
Non-marketable securities | Fair value accounting | Other venture capital investments | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | 4,603 | -963 | 5,720 | 4,177 |
Non-marketable securities | Fair value accounting | Other investments | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Unrealized Gains (Losses) [Line Items] | ' | ' | ' | ' |
Unrealized gains included in earnings attributable to Level 3 assets still held | $143,301 | $0 | $143,301 | $0 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | $1,134,038 | $859,141 | $938,244 | $841,722 | $828,326 | $799,962 | |||||
Other venture capital investments | Fair value accounting | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | 55,359 | 127,091 | ' | ' | ' | ' | |||||
Valuation Technique | 'Private company equity pricing | 'Private company equity pricing | ' | ' | ' | ' | |||||
Equity warrant assets (public portfolio) | Investments [Member] | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | 12,618 | ' | ' | ' | ' | ' | |||||
Equity warrant assets (private portfolio) | Investments [Member] | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | 75,508 | 66,129 | ' | ' | ' | ' | |||||
Equity warrant assets | Other assets | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | 88,126 | [1] | 66,129 | 73,229 | [1] | 64,691 | [1] | 68,619 | [1] | 63,030 | |
Valuation Technique | 'Modified Black-Scholes option pricing model | 'Modified Black-Scholes option pricing model | ' | ' | ' | ' | |||||
Volatility | 39.70% | [2] | 45.20% | [2] | ' | ' | ' | ' | |||
Risk-Free interest rate | 0.80% | [2] | 0.40% | [2] | ' | ' | ' | ' | |||
Marketability discount | 22.50% | [2],[3] | 22.50% | [2],[3] | ' | ' | ' | ' | |||
Remaining life assumption | 45.00% | [2],[4] | 45.00% | [2],[4] | ' | ' | ' | ' | |||
Fair Value, Measurements, Recurring | Other Securities [Member] | Fair value accounting | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | 217,054 | 0 | 0 | ' | ' | ' | |||||
Fair Value, Measurements, Recurring | Level 3 | Other Securities [Member] | Fair value accounting | ' | ' | ' | ' | ' | ' | |||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | |||||
Fair value | $217,054 | ' | ' | ' | ' | ' | |||||
[1] | Realized and unrealized gains (losses) are recorded on the line item “gains on derivative instruments, netâ€, a component of noninterest income. | ||||||||||
[2] | In determining the fair value of our other venture capital investment portfolio, we evaluate a variety of factors related to each underlying private portfolio company including, but not limited to, actual and forecasted results, cash position, recent or planned transactions and market comparable companies. Additionally, we have ongoing communication with the portfolio companies and venture capital fund managers, to determine whether there is a material change in fair value. These factors are specific to each portfolio company and a weighted average or range of values of the unobservable inputs is not meaningful. | ||||||||||
[3] | Our ownership includes direct ownership of 41.5 percent and indirect ownership interests of 12.6 percent and 4.1 percent in the fund through our ownership interest of SVB Capital - NT Growth Partners, LP and SVB Capital Preferred Return Fund, LP, respectively. | ||||||||||
[4] | At September 30, 2013, we had a direct ownership interest of 4.8 percent in the fund and an indirect interest in the fund through our investment in Gold Hill Venture Lending Partners 03, LLC (“GHLLCâ€) of 4.5 percent. |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Parenthetical) (Detail) (Other assets, Equity warrant assets) | Sep. 30, 2013 |
Other assets | Equity warrant assets | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Weighted average contractual remaining term | '6 years 6 months |
Estimated remaining life | '2 years 11 months 2 days |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $312 | $1,146 | $5,953 | $2,256 | ||||
Fair value accounting | Non-marketable securities | ' | ' | ' | ' | ||||
Debt Disclosure [Line Items] | ' | ' | ' | ' | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $0 | [1] | $978 | [1] | $3,561 | [1] | $1,573 | [1] |
[1] | Realized and unrealized gains (losses) are recorded on the line items “gains on investment securities, netâ€, and “other noninterest incomeâ€, components of noninterest income. |
Fair_Value_of_Financial_Instru8
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments not Carried at Fair Value (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | $5,580 | $166,110 | ||
Federal Funds Purchased | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 0 | 160,000 | ||
Other short-term borrowings | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 5,580 | [1] | 6,110 | [1] |
5.375% Senior Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Senior Notes | 348,155 | 347,995 | ||
6.05% Subordinated Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Subordinated Notes | 52,524 | [2] | 54,571 | [2] |
7.0% Junior Subordinated Debentures | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Junior Subordinated Debentures | 55,065 | 55,196 | ||
Carrying Amount | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 1,942,744 | 1,008,983 | ||
Non-marketable and other securities (cost and equity method accounting) | 379,601 | 391,253 | ||
Net commercial loans | 8,780,870 | 8,013,563 | ||
Net consumer loans | 919,378 | 822,719 | ||
FHLB and Federal Reserve Bank stock | 40,532 | 39,806 | ||
Accrued interest receivable | 64,902 | 64,167 | ||
Non-maturity deposits | 19,822,370 | [3] | 19,021,264 | [3] |
Time deposits | 174,620 | 155,188 | ||
Accrued interest payable | 2,046 | 6,494 | ||
Commitments to extend credit | 0 | 0 | ||
Carrying Amount | Federal Funds Purchased | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | ' | 160,000 | ||
Carrying Amount | Other short-term borrowings | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 5,580 | 6,110 | ||
Carrying Amount | 5.375% Senior Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Senior Notes | 348,155 | 347,995 | ||
Carrying Amount | 6.05% Subordinated Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Subordinated Notes | 52,524 | [4] | 54,571 | [4] |
Carrying Amount | 7.0% Junior Subordinated Debentures | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Junior Subordinated Debentures | 55,065 | 55,196 | ||
Estimated Fair Value | Level 1 | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 1,942,744 | 1,008,983 | ||
Non-marketable and other securities (cost and equity method accounting) | 0 | 0 | ||
Net commercial loans | 0 | 0 | ||
Net consumer loans | 0 | 0 | ||
FHLB and Federal Reserve Bank stock | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Non-maturity deposits | 19,822,370 | [3] | 19,021,264 | [3] |
Time deposits | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Commitments to extend credit | 0 | 0 | ||
Estimated Fair Value | Level 1 | Federal Funds Purchased | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | ' | 160,000 | ||
Estimated Fair Value | Level 1 | Other short-term borrowings | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 5,580 | 6,110 | ||
Estimated Fair Value | Level 1 | 5.375% Senior Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Senior Notes | 0 | 0 | ||
Estimated Fair Value | Level 1 | 6.05% Subordinated Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Subordinated Notes | 0 | [4] | 0 | [4] |
Estimated Fair Value | Level 1 | 7.0% Junior Subordinated Debentures | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Junior Subordinated Debentures | 0 | 0 | ||
Estimated Fair Value | Level 2 | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 0 | 0 | ||
Non-marketable and other securities (cost and equity method accounting) | 0 | 0 | ||
Net commercial loans | 0 | 0 | ||
Net consumer loans | 0 | 0 | ||
FHLB and Federal Reserve Bank stock | 0 | 0 | ||
Accrued interest receivable | 64,902 | 64,167 | ||
Non-maturity deposits | 0 | [3] | 0 | [3] |
Time deposits | 174,658 | 155,027 | ||
Accrued interest payable | 2,046 | 6,494 | ||
Commitments to extend credit | 0 | 0 | ||
Estimated Fair Value | Level 2 | Federal Funds Purchased | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | ' | 0 | ||
Estimated Fair Value | Level 2 | Other short-term borrowings | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 0 | 0 | ||
Estimated Fair Value | Level 2 | 5.375% Senior Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Senior Notes | 384,139 | 393,701 | ||
Estimated Fair Value | Level 2 | 6.05% Subordinated Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Subordinated Notes | 57,646 | [4] | 61,639 | [4] |
Estimated Fair Value | Level 2 | 7.0% Junior Subordinated Debentures | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Junior Subordinated Debentures | 53,761 | 51,959 | ||
Estimated Fair Value | Level 3 | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Cash and cash equivalents | 0 | 0 | ||
Non-marketable and other securities (cost and equity method accounting) | 442,620 | 425,741 | ||
Net commercial loans | 8,906,145 | 8,180,597 | ||
Net consumer loans | 989,546 | 860,772 | ||
FHLB and Federal Reserve Bank stock | 40,532 | 39,806 | ||
Accrued interest receivable | 0 | 0 | ||
Non-maturity deposits | 0 | [3] | 0 | [3] |
Time deposits | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Commitments to extend credit | 23,568 | 20,562 | ||
Estimated Fair Value | Level 3 | Federal Funds Purchased | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | ' | 0 | ||
Estimated Fair Value | Level 3 | Other short-term borrowings | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Short-term borrowings | 0 | 0 | ||
Estimated Fair Value | Level 3 | 5.375% Senior Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Senior Notes | 0 | 0 | ||
Estimated Fair Value | Level 3 | 6.05% Subordinated Notes | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Subordinated Notes | 0 | [4] | 0 | [4] |
Estimated Fair Value | Level 3 | 7.0% Junior Subordinated Debentures | ' | ' | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ||
Junior Subordinated Debentures | $0 | $0 | ||
[1] | Represents cash collateral received from our counterparty for our interest rate swap agreement related to our 6.05% Subordinated Notes. | |||
[2] | At September 30, 2013 and December 31, 2012, included in the carrying value of our 6.05% Subordinated Notes were $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. | |||
[3] | Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. | |||
[4] | At September 30, 2013 and December 31, 2012, included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was $7.0 million and $9.0 million, respectively, related to hedge accounting associated with the notes. |
Fair_Value_of_Financial_Instru9
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments not Carried at Fair Value (Parenthetical) (Detail) (6.05% Subordinated Notes, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
6.05% Subordinated Notes | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value of the interest rate swap associated with the notes | $7,000 | $9,000 |
Recovered_Sheet6
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Investments and Remaining Unfunded Commitments for Each Major Category of Investments (Detail) (USD $) | Sep. 30, 2013 | |
In Thousands, unless otherwise specified | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Carrying Amount | $975,366 | |
Fair Value | 1,033,519 | |
Unfunded Commitments | 489,955 | |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Carrying Amount | 773,499 | [1] |
Fair Value | 773,499 | [1] |
Unfunded Commitments | 434,754 | [1] |
Non-marketable securities | Equity method accounting | Other investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Carrying Amount | 52,265 | [2] |
Fair Value | 53,766 | [2] |
Unfunded Commitments | 15,436 | [2] |
Non-marketable securities | Cost method accounting | Venture capital and private equity fund investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Carrying Amount | 149,602 | [3] |
Fair Value | 206,254 | [3] |
Unfunded Commitments | $39,765 | [3] |
[1] | Venture capital and private equity fund investments within non-marketable securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds. These investments represent investments in venture capital and private equity funds that invest primarily in U.S. and global technology and life sciences companies. Included in the fair value and unfunded commitments of fund investments under fair value accounting are $700 million and $428 million, respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. | |
[2] | Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds. | |
[3] | Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Recovered_Sheet7
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Investments and Remaining Unfunded Commitments for Each Major Category of Investments (Textual) (Detail) (USD $) | Sep. 30, 2013 | |
In Thousands, unless otherwise specified | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Fair Value | $1,033,519 | |
Unfunded Commitments | 489,955 | |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Fair Value | 773,499 | [1] |
Unfunded Commitments | 434,754 | [1] |
Non-marketable securities | Equity method accounting | Other investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Fair Value | 53,766 | [2] |
Unfunded Commitments | 15,436 | [2] |
Non-marketable securities | Cost method accounting | Venture capital and private equity fund investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Fair Value | 206,254 | [3] |
Unfunded Commitments | 39,765 | [3] |
Non-marketable securities | Noncontrolling Interests | Fair value accounting | Venture capital and private equity fund investments | ' | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | ' | |
Fair Value | 700,000 | |
Unfunded Commitments | $428,000 | |
[1] | Venture capital and private equity fund investments within non-marketable securities (fair value accounting) include investments made by our managed funds of funds and one of our direct venture funds. These investments represent investments in venture capital and private equity funds that invest primarily in U.S. and global technology and life sciences companies. Included in the fair value and unfunded commitments of fund investments under fair value accounting are $700 million and $428 million, respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. | |
[2] | Other investments within non-marketable securities (equity method accounting) include investments in debt funds and venture capital and private equity fund investments that invest in or lend money to primarily U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds. | |
[3] | Venture capital and private equity fund investments within non-marketable securities (cost method accounting) include investments in venture capital and private equity fund investments that invest primarily in U.S. and global technology and life sciences companies. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Related_Parties_Details
Related Parties (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Gold Hill 08 Funds | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Line of credit facility, maximum borrowing capacity | $85 | ' |
Gold Hill 08 Funds | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Loan amount outstanding to related party during period, maximum | 38 | ' |
Line of credit facility amount syndicated to another lender | 27 | ' |
Interest rate associated with related party loan facility | 'national Prime plus one percent | ' |
Revolving line of credit facility, outstanding amount | $38 | $31 |
Gold Hill Capital 2008, LLC | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
SVBFG Ownership of each Fund | 83.80% | ' |