Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 31, 2016 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SIVB | |
Entity Registrant Name | SVB FINANCIAL GROUP | |
Entity Central Index Key | 719,739 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 52,088,461 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and cash equivalents | $ 2,521,319 | $ 1,503,257 |
Available-for-sale securities, at fair value (cost of $12,514,893 and $16,375,941, respectively) | 12,665,697 | 16,380,748 |
Held-to-maturity securities, at cost (fair value of $7,885,333 and $8,758,622, respectively) | 7,791,949 | 8,790,963 |
Non-marketable and other securities | 625,178 | 674,946 |
Total investment securities | 21,082,824 | 25,846,657 |
Loans, net of unearned income | 19,112,265 | 16,742,070 |
Allowance for loan losses | (240,565) | (217,613) |
Net loans | 18,871,700 | 16,524,457 |
Premises and equipment, net of accumulated depreciation and amortization | 115,014 | 102,625 |
Accrued interest receivable and other assets | 683,180 | 709,707 |
Total assets | 43,274,037 | 44,686,703 |
Liabilities: | ||
Noninterest-bearing demand deposits | 31,028,974 | 30,867,497 |
Interest-bearing deposits | 7,160,442 | 8,275,279 |
Total deposits | 38,189,416 | 39,142,776 |
Short-term borrowings | 2,421 | 774,900 |
Other liabilities | 562,912 | 639,094 |
Long-term debt | 795,971 | 796,702 |
Total liabilities | 39,550,720 | 41,353,472 |
Commitments and contingencies (Note 12 and Note 15) | ||
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; 52,061,435 shares and 51,610,226 shares outstanding, respectively | 52 | 52 |
Additional paid-in capital | 1,219,555 | 1,189,032 |
Retained earnings | 2,276,865 | 1,993,646 |
Accumulated other comprehensive income | 96,579 | 15,404 |
Total SVBFG stockholders’ equity | 3,593,051 | 3,198,134 |
Noncontrolling interests | 130,266 | 135,097 |
Total equity | 3,723,317 | 3,333,231 |
Total liabilities and total equity | $ 43,274,037 | $ 44,686,703 |
Interim Consolidated Balance S3
Interim Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Available-for-sale securities, cost | $ 12,514,893 | $ 16,375,941 |
Held-to-maturity securities | $ 7,885,333 | $ 8,758,622 |
Preferred stock, par value, in usd per share | $ 0.001 | $ 0.001 |
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, in usd per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares outstanding | 52,061,435 | 51,610,226 |
Interim Consolidated Statements
Interim Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income: | ||||
Loans | $ 214,227 | $ 174,993 | $ 617,456 | $ 507,746 |
Investment securities: | ||||
Taxable | 83,468 | 87,609 | 261,121 | 253,496 |
Non-taxable | 522 | 707 | 1,693 | 2,220 |
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities | 2,196 | 1,482 | 5,793 | 4,071 |
Total interest income | 300,413 | 264,791 | 886,063 | 767,533 |
Interest expense: | ||||
Deposits | 1,535 | 1,158 | 3,984 | 4,283 |
Borrowings | 9,717 | 8,973 | 28,161 | 25,894 |
Total interest expense | 11,252 | 10,131 | 32,145 | 30,177 |
Net interest income | 289,161 | 254,660 | 853,918 | 737,356 |
Provision for loan losses | 18,950 | 33,403 | 88,624 | 66,368 |
Net interest income after provision for loan losses | 270,211 | 221,257 | 765,294 | 670,988 |
Noninterest income: | ||||
Gains on investment securities, net | 23,178 | 18,768 | 41,764 | 77,006 |
Gains on derivative instruments, net | 19,744 | 10,244 | 26,847 | 66,290 |
Foreign exchange fees | 25,944 | 22,995 | 76,998 | 63,037 |
Credit card fees | 18,295 | 14,536 | 49,226 | 40,841 |
Deposit service charges | 13,356 | 12,272 | 39,142 | 34,309 |
Client investment fees | 7,952 | 5,683 | 23,959 | 15,429 |
Lending related fees | 8,168 | 7,561 | 23,783 | 23,746 |
Letters of credit and standby letters of credit fees | 6,811 | 5,341 | 18,414 | 15,315 |
Other | 20,692 | 11,077 | 42,917 | 22,315 |
Total noninterest income | 144,140 | 108,477 | 343,050 | 358,288 |
Noninterest expense: | ||||
Compensation and benefits | 136,568 | 109,345 | 374,410 | 350,030 |
Professional services | 23,443 | 21,137 | 67,959 | 58,834 |
Premises and equipment | 16,291 | 12,356 | 47,861 | 36,800 |
Business development and travel | 8,504 | 8,028 | 30,077 | 28,904 |
Net occupancy | 9,525 | 8,548 | 28,919 | 24,010 |
FDIC and state assessments | 7,805 | 6,954 | 21,624 | 18,705 |
Correspondent bank fees | 3,104 | 3,070 | 9,469 | 9,775 |
Provision for unfunded credit commitments | 1,054 | 1,047 | 1,601 | 249 |
Other | 15,533 | 14,270 | 44,292 | 42,101 |
Total noninterest expense | 221,827 | 184,755 | 626,212 | 569,408 |
Income before income tax expense | 192,524 | 144,979 | 482,132 | 459,868 |
Income tax expense | 76,877 | 57,017 | 195,508 | 175,057 |
Net income before noncontrolling interests | 115,647 | 87,962 | 286,624 | 284,811 |
Net income attributable to noncontrolling interests | (4,566) | (6,229) | (3,405) | (28,419) |
Net income available to common stockholders | $ 111,081 | $ 81,733 | $ 283,219 | $ 256,392 |
Earnings per common share—basic (dollars per share) | $ 2.13 | $ 1.59 | $ 5.46 | $ 5 |
Earnings per common share—diluted (dollars per share) | $ 2.12 | $ 1.57 | $ 5.42 | $ 4.94 |
Interim Consolidated Statement5
Interim Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income before noncontrolling interests | $ 115,647 | $ 87,962 | $ 286,624 | $ 284,811 |
Change in cumulative translation (losses) gains: | ||||
Foreign currency translation (losses) gains | (119) | (102) | (2,168) | 2,588 |
Related tax benefit (expense) | 50 | 87 | 885 | (1,054) |
Change in unrealized (losses) gains on available-for-sale securities: | ||||
Unrealized holding (losses) gains | (54,204) | 58,902 | 157,564 | 100,468 |
Related tax benefit (expense) | 21,932 | (24,200) | (64,357) | (41,224) |
Reclassification adjustment for losses (gains) included in net income | 15 | (13) | (11,567) | (2,750) |
Related tax (benefit) expense | (6) | 6 | 4,707 | 1,111 |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity | (1,690) | (2,565) | (6,507) | (7,997) |
Related tax benefit | 680 | 1,032 | 2,618 | 3,218 |
Other comprehensive (loss) income, net of tax | (33,342) | 33,147 | 81,175 | 54,360 |
Comprehensive income | 82,305 | 121,109 | 367,799 | 339,171 |
Comprehensive income attributable to noncontrolling interests | (4,566) | (6,229) | (3,405) | (28,419) |
Comprehensive income attributable to SVBFG | $ 77,739 | $ 114,880 | $ 364,394 | $ 310,752 |
Interim Consolidated Statement6
Interim Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Total SVBFG Stockholders’ Equity | Noncontrolling Interests |
Balance (in shares) at Dec. 31, 2014 | 50,924,925 | ||||||
Balance at Dec. 31, 2014 | $ 4,051,734 | $ 51 | $ 1,120,350 | $ 1,649,967 | $ 42,704 | $ 2,813,072 | $ 1,238,662 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | 536,635 | ||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations | 14,712 | $ 0 | 14,712 | 14,712 | |||
Common stock issued under ESOP (in shares) | 27,425 | ||||||
Common stock issued under ESOP | 3,512 | 3,512 | 3,512 | ||||
Income tax effect from stock options exercised, vesting of restricted stock and other | 10,813 | 10,813 | 10,813 | ||||
Deconsolidation of noncontrolling interest | (1,069,437) | (1,069,437) | |||||
Net income | 284,811 | 256,392 | 256,392 | 28,419 | |||
Capital calls and distributions, net | (58,315) | (58,315) | |||||
Net change in unrealized gains and losses on available-for-sale securities, net of tax | 57,605 | 57,605 | 57,605 | ||||
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax | (4,779) | (4,779) | (4,779) | ||||
Foreign currency translation adjustments, net of tax | 1,534 | 1,534 | 1,534 | ||||
Share-based compensation, net | 22,262 | 22,262 | 22,262 | ||||
Balance (in shares) at Sep. 30, 2015 | 51,488,985 | ||||||
Balance at Sep. 30, 2015 | 3,314,228 | $ 51 | 1,171,649 | 1,906,135 | 97,064 | 3,174,899 | 139,329 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stockholders' Equity, Other | (224) | (224) | (224) | ||||
Balance (in shares) at Dec. 31, 2015 | 51,610,226 | ||||||
Balance at Dec. 31, 2015 | 3,333,231 | $ 52 | 1,189,032 | 1,993,646 | 15,404 | 3,198,134 | 135,097 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | 408,044 | ||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations | 8,661 | $ 0 | 8,661 | 8,661 | |||
Common stock issued under ESOP (in shares) | 43,165 | ||||||
Common stock issued under ESOP | 4,328 | 4,328 | 4,328 | ||||
Income tax effect from stock options exercised, vesting of restricted stock and other | (6,300) | (6,300) | (6,300) | ||||
Net income | 286,624 | 283,219 | 283,219 | 3,405 | |||
Capital calls and distributions, net | (8,236) | (8,236) | |||||
Net change in unrealized gains and losses on available-for-sale securities, net of tax | 86,347 | 86,347 | 86,347 | ||||
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, net of tax | (3,889) | (3,889) | (3,889) | ||||
Foreign currency translation adjustments, net of tax | (1,283) | (1,283) | (1,283) | ||||
Share-based compensation, net | 23,834 | 23,834 | 23,834 | ||||
Balance (in shares) at Sep. 30, 2016 | 52,061,435 | ||||||
Balance at Sep. 30, 2016 | $ 3,723,317 | $ 52 | $ 1,219,555 | $ 2,276,865 | $ 96,579 | $ 3,593,051 | $ 130,266 |
Interim Consolidated Statement7
Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | |||
Cash flows from operating activities: | ||||
Net income before noncontrolling interests | $ 286,624 | $ 284,811 | ||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Provision for loan losses | 88,624 | 66,368 | ||
Provision for unfunded credit commitments | 1,601 | 249 | ||
Changes in fair values of derivatives, net | (24,875) | (42,295) | ||
Gains on investment securities, net | (41,764) | (77,006) | ||
Depreciation and amortization | 35,114 | 28,504 | ||
Amortization of premiums and discounts on investment securities, net | 9,622 | 14,659 | ||
Amortization of share-based compensation | 22,342 | 24,174 | ||
Amortization of deferred loan fees | (72,807) | (64,275) | ||
Pre-tax net gain on SVBIF sale transaction | 0 | (1,287) | ||
Deferred income tax (benefit) expense | (6,839) | 3,131 | ||
Changes in other assets and liabilities: | ||||
Accrued interest receivable and payable, net | 1,169 | (6,312) | ||
Accounts receivable and payable, net | (12,872) | (18,285) | ||
Income tax receivable and payable, net | 13,181 | (29,398) | ||
Accrued compensation | (48,740) | (7,702) | ||
Foreign exchange spot contracts, net | 1,803 | 7,522 | ||
Other, net | 20,821 | 71,349 | ||
Net cash provided by operating activities | 273,004 | 254,207 | ||
Cash flows from investing activities: | ||||
Purchases of available-for-sale securities | 0 | (2,911,486) | ||
Proceeds from sales of available-for-sale securities | 2,879,409 | 7,762 | ||
Proceeds from maturities and pay downs of available-for-sale securities | 1,002,523 | 1,238,950 | ||
Purchases of held-to-maturity securities | (225,526) | (2,057,030) | ||
Proceeds from maturities and pay downs of held-to-maturity securities | 1,206,367 | 1,153,363 | ||
Purchases of non-marketable and other securities | (41,925) | (30,245) | ||
Proceeds from sales and distributions of non-marketable and other securities | 54,420 | 115,338 | ||
Net increase in loans | (2,373,798) | (911,694) | ||
Proceeds from recoveries of charged-off loans | 8,158 | 5,119 | ||
Effect of deconsolidation of noncontrolling interest | 0 | 15,995 | ||
Net proceeds from SVBIF sale transaction | 0 | 39,284 | ||
Purchases of premises and equipment | (37,184) | (37,465) | ||
Net cash provided by (used for) investing activities | 2,472,444 | (3,372,109) | ||
Cash flows from financing activities: | ||||
Net (decrease) increase in deposits | (953,360) | 2,626,379 | ||
Net decrease in short-term borrowings | (772,479) | (4,025) | ||
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests | (8,236) | (16,789) | ||
Tax effect from stock exercises | (6,300) | 10,813 | ||
Proceeds from issuance of common stock, ESPP, and ESOP | 12,989 | 18,224 | ||
Proceeds from issuance of 3.50% Senior Notes | 0 | 346,431 | ||
Net cash (used for) provided by financing activities | (1,727,386) | 2,981,033 | ||
Net increase (decrease) in cash and cash equivalents | 1,018,062 | (136,869) | ||
Cash and cash equivalents at beginning of period | 1,503,257 | |||
Cash and cash equivalents at end of period | 2,521,319 | |||
Cash and cash equivalents, including discontinued operations, at beginning of period | [1] | 1,811,014 | ||
Cash and cash equivalents, including discontinued operations, at end of period | 1,674,145 | |||
Cash paid during the period for: | ||||
Interest | 39,317 | 32,183 | ||
Income taxes | 186,474 | 182,479 | ||
Noncash items during the period: | ||||
Changes in unrealized gains and losses on available-for-sale securities, net of tax | 86,347 | 57,605 | ||
Distributions of stock from investments (2) | $ 750 | $ 64,120 | [2] | |
[1] | Cash and cash equivalents at December 31, 2014 included $15.0 million recognized in assets held-for-sale in conjunction with the SVBIF sale transaction. | |||
[2] | For the nine months ended September 30, 2015, includes distributions to noncontrolling interests of $41.5 million. |
Interim Consolidated Statement8
Interim Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | ||
Cash and cash equivalents, including discontinued operations | $ 1,674,145 | $ 1,811,014 | [1] |
Noncash or Part Non-Cash, Distributions of Stock from Investments to NCI | $ 41,500 | ||
Other assets | |||
Cash and cash equivalents, including discontinued operations | $ 15,000 | ||
[1] | Cash and cash equivalents at December 31, 2014 included $15.0 million recognized in assets held-for-sale in conjunction with the SVBIF sale transaction. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 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, 2015 (“ 2015 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 2015 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 Prior to April 1, 2015, the Company’s consolidated financial statements included the accounts of SVB Financial Group and entities in which we had a controlling interest. The determination of whether we had controlling interest was based on consolidation principles prescribed by ASC Topic 810 and whether the controlling interest in an entity was a voting interest entity or a variable interest entity (“VIE”). However, during the three months ended June 30, 2015, we early adopted the provisions of ASU 2015-02, Amendments to the Consolidation Analysis (ASU 2015-02), which simplifies consolidation accounting by reducing the number of consolidation models and changing various aspects of current GAAP, including certain consolidation criteria for variable interest entities. The new guidance eliminates the presumption that a general partner of a limited partnership arrangement should consolidate a limited partnership. The amendments to ASC Topic 810 in ASU 2015-02 modify the evaluation of whether limited partnerships and similar entities are VIEs or voting entities. With these changes, we determined that the majority of our investments in limited partnership arrangements are VIEs under the new guidance while these entities were typically voting interest entities under the prior guidance. ASU 2015-02 provided a single model for evaluating VIE entities for consolidation. VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. We assess VIEs to determine if we are the primary beneficiary of a VIE. A primary beneficiary is defined as a variable interest holder that has a controlling financial interest. A controlling financial interest requires both: (a) power to direct the activities that most significantly impact the VIE’s economic performance, and (b) obligation to absorb losses or receive benefits of a VIE that could potentially be significant to a VIE. Under this analysis, we evaluate kick-out rights and other participating rights which could provide us a controlling financial interest. The primary beneficiary of a VIE is required to consolidate the VIE. ASU 2015-02 also changed how we evaluate fees paid to managers of our limited partnership investments. Under the new guidance, we exclude those fee arrangements that are not deemed to be variable interests from the analysis of our interests in our investments in VIEs and the determination of a primary beneficiary, if any. Our consolidated financial statements include the accounts of SVB Financial Group and consolidated entities. We consolidate voting entities in which we have control through voting interests. We determine whether we have a controlling financial interest in a VIE by determining if we have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and whether we have significant variable interests. Generally, we have significant variable interests if our commitments to a limited partnership investment represent a significant amount of the total commitments to the entity. We also evaluate the impact of related parties on our determination of variable interests in our consolidation conclusions. We consolidate VIEs in which we are the primary beneficiary based on a controlling financial interest. If we are not the primary beneficiary of a VIE, we record our pro-rata interests or our cost basis in the VIE, as appropriate, based on other accounting guidance within GAAP. All significant intercompany accounts and transactions with consolidated entities have been eliminated. We have not provided financial or other support during the periods presented to any VIE that we were not previously contractually required to provide. Recent Accounting Pronouncements In May 2014, the FASB issued a new accounting standard update (ASU 2014-09, Revenue from Contracts with Customers (Topic 606)), which provides revenue recognition guidance that is intended to create greater consistency with respect to how and when revenue from contracts with customers is shown in the income statement. This guidance will be effective January 1, 2018, either on a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In January 2016, the FASB issued a new accounting standard update (ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825)), which will significantly change the income statement impact of equity investments, and the recognition of changes in fair value of financial liabilities. This guidance will be effective on January 1, 2018, on a prospective basis with a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In February 2016, the FASB issued a new accounting standard update (ASU 2016-02, Leases (Topic 842)), which will require for all operating leases the recognition of a right-of-use asset and a lease liability, in the statement of financial position. The lease cost will be allocated over the lease term on a straight-line basis. This guidance will be effective on January 1, 2019, on a modified retrospective basis, with early adoption permitted. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323)), which eliminates the requirement that when an investment qualifies for use of the equity method due to an increase in level of ownership or influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by step basis as if the equity method had been in effect during all previous periods that the investment had been held. This guidance will be effective January 1, 2017, on a prospective basis, with early adoption permitted. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)), which is intended to improve the operability and understandability of the implementation guidance by clarifying the following: how an entity should identify the unit of accounting for the principal versus agent evaluation; how the control principle applies to transactions, such as service arrangements; reframes the indicators to focus on a principal rather than an agent, removes the credit risk and commission indicators and clarifies the relationship between the control principle and the indicators; and revises the existing illustrative examples and adds new illustrative examples. This guidance will be effective January 1, 2018, either on a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718)), which includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. Under the ASU, an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement in the period when the awards vest or are settled. The guidance also permits an entity to make an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This guidance will be effective January 1, 2017. Early adoption is permitted, but all of the guidance must be adopted in the same period. We plan to adopt the share-based payment guidance in the first quarter of 2017. Currently, we record excess tax benefits and tax deficiencies to APIC at the time of vesting and or settlement, however, upon adoption of this standard, the excess tax benefits and tax deficiencies will be recorded to the income statement as income tax expense or benefit. We do not expect the guidance to have a material impact on our annual earnings; however, the impact will vary period to period depending on the volatility of the Company's stock price and the actual timing of settlement of awards. We would expect the most significant impact to occur during our second quarter as the majority of awards vest during that period. In April 2016, the FASB issued a new accounting standard update (ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing), which amends the new revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations. The amendments clarify how an entity should evaluate the nature of its promise in granting a license of intellectual property, which will determine whether it recognizes revenue over time or a point in time. The amendments also clarify when a promised good or service is separately identifiable, that is distinct within the context of the contract, and allow entities to disregard items that are immaterial in the context of a contract. The effective date and transition requirements for this update are the same as those of the new standard. This guidance is effective January 1, 2018, on either a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In June 2016, the FASB issued a new accounting standard update (ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments), which amends the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance will be effective January 1, 2020, on a modified retrospective approach, with early adoption permitted, but not before January 1, 2020. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In August 2016, the FASB issued a new accounting standard update (ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments), which clarifies the guidance on eight specific cash flow issues. This guidance will be effective January 1, 2018 on a full retrospective approach, with early adoption permitted. We are currently evaluating the impact this guidance will have on our statement of cash flows. 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, 2016 | |
Equity and Earnings Per Share [Abstract] | |
Stockholders' Equity and EPS | Stockholders’ Equity and EPS Accumulated Other Comprehensive Income The following table summarizes the items reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income (unaudited) for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) Income Statement Location 2016 2015 2016 2015 Reclassification adjustment for losses (gains) included in net income Gains on investment securities, net $ 15 $ (13 ) $ (11,567 ) $ (2,750 ) Related tax (benefit) expense Income tax expense (6 ) 6 4,707 1,111 Total reclassification adjustment for losses (gains) included in net income, net of tax $ 9 $ (7 ) $ (6,860 ) $ (1,639 ) 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars and shares in thousands, except per share amounts) 2016 2015 2016 2015 Numerator: Net income available to common stockholders $ 111,081 $ 81,733 $ 283,219 $ 256,392 Denominator: Weighted average common shares outstanding-basic 52,046 51,479 51,842 51,254 Weighted average effect of dilutive securities: Stock options and ESPP 233 382 245 411 Restricted stock units 134 187 142 213 Denominator for diluted calculation 52,413 52,048 52,229 51,878 Earnings per common share: Basic $ 2.13 $ 1.59 $ 5.46 $ 5.00 Diluted $ 2.12 $ 1.57 $ 5.42 $ 4.94 The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation due to the antidilutive effect for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Shares in thousands) 2016 2015 2016 2015 Stock options 518 142 444 169 Restricted stock units 120 1 9 — Total 638 143 453 169 |
Share-Based Compensation
Share-Based Compensation | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Share-Based Compensation For the three and nine months ended September 30, 2016 and 2015 , we recorded share-based compensation and related tax benefits as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Share-based compensation expense $ 7,916 $ 8,188 $ 22,342 $ 24,174 Income tax benefit related to share-based compensation expense (2,881 ) (3,051 ) (7,461 ) (8,381 ) Unrecognized Compensation Expense As of September 30, 2016 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Average Expected Recognition Period - in Years Stock options $ 11,150 2.52 Restricted stock units 51,094 2.68 Total unrecognized share-based compensation expense $ 62,244 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, 2016 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2015 1,137,228 $ 77.12 Granted 177,203 105.11 Exercised (141,248 ) 43.90 Forfeited (19,305 ) 100.80 Expired (190 ) 19.48 Outstanding at September 30, 2016 1,153,688 85.10 3.83 $ 31,649,669 Vested and expected to vest at September 30, 2016 1,123,538 84.47 3.77 31,469,498 Exercisable at September 30, 2016 706,677 72.25 2.81 27,648,800 The aggregate intrinsic value of outstanding options shown in the table above represents the pre-tax intrinsic value based on our closing stock price of $110.54 as of September 30, 2016 . The total intrinsic value of options exercised during the three and nine months ended September 30, 2016 was $1.5 million and $8.2 million , respectively, compared to $2.2 million and $24.0 million for the comparable 2015 periods. The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the nine months ended September 30, 2016 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2015 572,038 $ 103.50 Granted 359,028 100.17 Vested (215,587 ) 87.67 Forfeited (24,508 ) 106.50 Nonvested at September 30, 2016 690,971 106.61 |
Variable Interest Entities
Variable Interest Entities | 9 Months Ended |
Sep. 30, 2016 | |
Investments In Variable Interest Entities [Abstract] | |
Variable Interest Entities | Variable Interest Entities Our involvement with VIEs includes our investments in venture capital and private equity funds, debt funds, private and public portfolio companies and our investments in qualified affordable housing projects. The following table presents the carrying amounts and classification of significant variable interests in consolidated and unconsolidated VIEs as of September 30, 2016 and December 31, 2015 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs September 30, 2016: Assets: Cash and cash equivalents $ 12,870 $ — $ — Non-marketable and other securities (1) 195,956 312,693 312,693 Accrued interest receivable and other assets 333 — — Total assets $ 209,159 $ 312,693 $ 312,693 Liabilities: Accrued expenses and other liabilities (1) 909 52,846 — Total liabilities $ 909 $ 52,846 $ — December 31, 2015: Assets: Cash and cash equivalents $ 11,811 $ — $ — Non-marketable and other securities (1) 203,714 364,450 364,450 Accrued interest receivable and other assets 494 — — Total assets $ 216,019 $ 364,450 $ 364,450 Liabilities: Accrued expenses and other liabilities (1) 433 90,978 — Total liabilities $ 433 $ 90,978 $ — (1) Included in our unconsolidated non-marketable and other securities portfolio at September 30, 2016 and December 31, 2015 are investments in qualified affordable housing projects of $106.5 million and $154.4 million , respectively and related unfunded commitments of $52.8 million and $91.0 million , respectively. Non-marketable and other securities Our non-marketable and other securities portfolio primarily represents investments in venture capital and private equity funds, debt funds, private and public portfolio companies and investments in qualified affordable housing projects. A majority of these investments are through third party funds held by SVB Financial in which we do not have controlling or significant variable interests. These investments represent our unconsolidated VIEs in the table above. Our non-marketable and other securities portfolio also includes investments from SVB Capital. SVB Capital is the venture capital investment arm of SVB Financial, which focuses primarily on funds management. The SVB Capital family of funds is comprised of direct venture funds that invest in companies and funds of funds that invest in other venture capital funds. We have a controlling and significant variable interest in five of these SVB Capital funds and consolidate these funds for financial reporting purposes. All investments are generally nonredeemable and distributions are expected to be received through the liquidation of the underlying investments throughout the life of the investment fund. Investments may be sold or transferred subject to the notice and approval provisions of the underlying investment agreement. Subject to applicable regulatory requirements, including the Volcker Rule, we also make commitments to invest in venture capital and private equity funds, but are not obligated to fund commitments beyond our initial investment. For additional details, see Note 12—"Off-Balance Sheet Arrangements, Guarantees, and Other Commitments" of the "Notes to Interim Consolidated Financial Statements (unaudited)" under Part I, Item 1 of this report. The Bank also has variable interests in low income housing tax credit funds, in connection with fulfilling its responsibilities under the Community Reinvestment Act ("CRA"), that are designed to generate a return primarily through the realization of federal tax credits. These investments are typically limited partnerships in which the general partner, other than the Bank, holds the power over significant activities of the VIE; therefore, these investments are not consolidated. For additional information on our investments in qualified affordable housing projects see Note 6—“Investment Securities" of the "Notes to Interim Consolidated Financial Statements (unaudited)" under Part I, Item 1 of this report. As of September 30, 2016 , our exposure to loss with respect to the consolidated VIEs is limited to our net assets of $208.3 million and our exposure to loss for our unconsolidated VIEs is equal to our investment in these assets of $312.7 million . |
Cash and Cash Equivalents
Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Cash and due from banks (1) $ 2,352,469 $ 1,372,743 Securities purchased under agreements to resell (2) 163,719 125,391 Other short-term investment securities 5,131 5,123 Total cash and cash equivalents $ 2,521,319 $ 1,503,257 (1) At September 30, 2016 and December 31, 2015 , $1.3 billion and $405 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 $724 million and $500 million , respectively. (2) At September 30, 2016 and December 31, 2015 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $167 million an d $128 million , respectively. None of these securities received as collateral were sold or pledged as of September 30, 2016 or December 31, 2015 . |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities Our investment securities portfolio consists of: (i) an available-for-sale securities portfolio and a held-to-maturity securities portfolio, both of which represent interest-earning investment securities, and, (ii) a non-marketable and other securities portfolio, which primarily represents investments managed as part of our funds management business. Available-for-Sale Securities The components of our available-for-sale investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: September 30, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,828,906 $ 110,721 $ — $ 8,939,627 U.S. agency debentures 2,089,590 36,982 — 2,126,572 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,089,956 4,896 (2,563 ) 1,092,289 Agency-issued collateralized mortgage obligations—variable rate 504,134 839 (486 ) 504,487 Equity securities 2,307 637 (222 ) 2,722 Total available-for-sale securities $ 12,514,893 $ 154,075 $ (3,271 ) $ 12,665,697 December 31, 2015 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 11,679,450 $ 19,134 $ (20,549 ) $ 11,678,035 U.S. agency debentures 2,677,453 17,684 (5,108 ) 2,690,029 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,408,206 6,591 (15,518 ) 1,399,279 Agency-issued collateralized mortgage obligations—variable rate 604,236 3,709 (9 ) 607,936 Equity securities 6,596 460 (1,587 ) 5,469 Total available-for-sale securities $ 16,375,941 $ 47,578 $ (42,771 ) $ 16,380,748 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, 2016 : September 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Available-for-sale securities: Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate $ 310,991 $ (469 ) $ 247,100 $ (2,094 ) $ 558,091 $ (2,563 ) Agency-issued collateralized mortgage obligations—variable rate 221,818 (486 ) — — 221,818 (486 ) Equity securities 932 (222 ) — — 932 (222 ) Total temporarily impaired securities: (1) $ 533,741 $ (1,177 ) $ 247,100 $ (2,094 ) $ 780,841 $ (3,271 ) (1) As of September 30, 2016 , we identified a total of 103 investments that were in unrealized loss positions, of which 14 investments totaling $247.1 million with unrealized losses of $2.1 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2016 , we do not intend to sell any impaired fixed income investment 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, 2016 , 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, 2015 : December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Available-for-sale securities: U.S. Treasury securities $ 7,467,519 $ (20,549 ) $ — $ — $ 7,467,519 $ (20,549 ) U.S. agency debentures 760,071 (5,108 ) — — 760,071 (5,108 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 545,404 (4,681 ) 373,284 (10,837 ) 918,688 (15,518 ) Agency-issued collateralized mortgage obligations—variable rate 7,776 (9 ) — — 7,776 (9 ) Equity securities 2,955 (1,587 ) — — 2,955 (1,587 ) Total temporarily impaired securities (1): $ 8,783,725 $ (31,934 ) $ 373,284 $ (10,837 ) $ 9,157,009 $ (42,771 ) (1) As of December 31, 2015, we identified a total of 243 investments that were in unrealized loss positions, of which 18 investments totaling $373.3 million with unrealized losses of $10.8 million have been in an impaired position for a period of time greater than 12 months. The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as available-for-sale as of September 30, 2016 . The weighted average yield is computed using the amortized cost of fixed income investment securities, which are reported at fair value. For U.S. Treasury securities and U.S. agency debentures, the expected maturity is the actual contractual maturity of the notes. 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 and prepayments in lower rate environments. The weighted average yield on mortgage-backed securities is based on prepayment assumptions at the purchase date. Actual yields earned may differ significantly based upon actual prepayments. September 30, 2016 Total One Year or Less After One Year to Five Years After Five Years to Ten Years After Ten Years (Dollars in thousands) Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield U.S. Treasury securities $ 8,939,627 1.31 % $ 1,652,444 0.80 % $ 7,287,183 1.43 % $ — — % $ — — % U.S. agency debentures 2,126,572 1.60 426,210 1.17 1,700,362 1.71 — — — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate 1,092,289 1.91 — — — — 755,958 2.09 336,331 1.52 Agency-issued collateralized mortgage obligations - variable rate 504,487 0.71 — — — — — — 504,487 0.71 Total $ 12,662,975 1.39 $ 2,078,654 0.88 $ 8,987,545 1.48 $ 755,958 2.09 $ 840,818 1.03 Held-to-Maturity Securities The components of our held-to-maturity investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: September 30, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 622,692 $ 17,642 $ — $ 640,334 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,092,082 37,993 (309 ) 2,129,766 Agency-issued collateralized mortgage obligations—fixed rate 3,593,453 28,800 (1,962 ) 3,620,291 Agency-issued collateralized mortgage obligations—variable rate 327,673 188 (580 ) 327,281 Agency-issued commercial mortgage-backed securities 1,101,234 12,837 (311 ) 1,113,760 Municipal bonds and notes 54,815 121 (1,035 ) 53,901 Total held-to-maturity securities $ 7,791,949 $ 97,581 $ (4,197 ) $ 7,885,333 (1) Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States. December 31, 2015 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 545,473 $ 8,876 $ — $ 554,349 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,366,627 546 (11,698 ) 2,355,475 Agency-issued collateralized mortgage obligations—fixed rate 4,225,781 3,054 (32,999 ) 4,195,836 Agency-issued collateralized mortgage obligations—variable rate 370,779 758 (33 ) 371,504 Agency-issued commercial mortgage-backed securities 1,214,716 3,405 (3,475 ) 1,214,646 Municipal bonds and notes 67,587 55 (830 ) 66,812 Total held-to-maturity securities $ 8,790,963 $ 16,694 $ (49,035 ) $ 8,758,622 (1) Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States. The following table summarizes our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of September 30, 2016 : September 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Held-to-maturity securities: Residential mortgage-backed securities: Agency-issued mortgage-backed securities $ 8,249 $ (53 ) $ 23,238 $ (256 ) $ 31,487 $ (309 ) Agency-issued collateralized mortgage obligations—fixed rate 77,313 (136 ) 247,706 (1,826 ) 325,019 (1,962 ) Agency-issued collateralized mortgage obligations—variable rate 207,339 (580 ) — — 207,339 (580 ) Agency-issued commercial mortgage-backed securities 112,586 (157 ) 19,272 (154 ) 131,858 (311 ) Municipal bonds and notes 14,577 (131 ) 32,995 (904 ) 47,572 (1,035 ) Total temporarily impaired securities (1): $ 420,064 $ (1,057 ) $ 323,211 $ (3,140 ) $ 743,275 $ (4,197 ) (1) As of September 30, 2016 , we identified a total of 140 investments that were in unrealized loss positions, of which 78 investments totaling $323.2 million with unrealized losses of $3.1 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2016 , we do not intend to sell any impaired fixed income investment 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, which is consistent with our classification of these securities. Based on our analysis as of September 30, 2016 , we deem all impairments to be temporary. Market valuations and impairment analyses on assets in the held-to-maturity securities portfolio are reviewed and monitored on a quarterly basis. The following table summarizes our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of December 31, 2015 : December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Unrealized Fair Value of Unrealized Fair Value of Unrealized Held-to-maturity securities: Residential mortgage-backed securities: Agency-issued mortgage-backed securities $ 2,121,258 $ (10,860 ) $ 22,507 $ (838 ) $ 2,143,765 $ (11,698 ) Agency-issued collateralized mortgage obligations—fixed rate 3,153,483 (30,230 ) 150,058 (2,769 ) 3,303,541 (32,999 ) Agency-issued collateralized mortgage obligations—variable rate 170,350 (33 ) — — 170,350 (33 ) Agency-issued commercial mortgage-backed securities 823,414 (2,994 ) 40,276 (481 ) 863,690 (3,475 ) Municipal bonds and notes 34,278 (274 ) 25,509 (556 ) 59,787 (830 ) Total temporarily impaired securities (1): $ 6,302,783 $ (44,391 ) $ 238,350 $ (4,644 ) $ 6,541,133 $ (49,035 ) (1) As of December 31, 2015, we identified a total of 384 investments that were in unrealized loss positions, of which 58 investments totaling $238.4 million with unrealized losses of $4.6 million have been in an impaired position for a period of time greater than 12 months. The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as held-to-maturity as of September 30, 2016 . 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 percent . The weighted average yield is computed using the amortized cost of fixed income investment securities. For U.S. agency debentures, the expected maturity is the actual contractual maturity of the notes. 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 held-to-maturity 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 and prepayments in lower rate environments. The weighted average yield on mortgage-backed securities is based on prepayment assumptions at the purchase date. Actual yields earned may differ significantly based upon actual prepayments. September 30, 2016 Total One Year or Less After One Year to Five Years After Five Years to Ten Years After Ten Years (Dollars in thousands) Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield U.S. agency debentures $ 622,692 2.43 % $ — — % $ 47,478 3.25 % $ 575,214 2.36 % $ — — % Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,092,082 2.38 — — 257,766 2.58 216,197 1.74 1,618,119 2.44 Agency-issued collateralized mortgage obligations - fixed rate 3,593,453 1.73 — — — — 22,233 1.75 3,571,220 1.73 Agency-issued collateralized mortgage obligations - variable rate 327,673 0.74 — — — — — — 327,673 0.74 Agency-issued commercial mortgage-backed securities 1,101,234 2.13 — — — — — — 1,101,234 2.13 Municipal bonds and notes 54,815 6.07 4,076 5.76 23,925 6.02 24,204 6.13 2,610 6.46 Total $ 7,791,949 2.01 $ 4,076 5.76 $ 329,169 2.93 $ 837,848 2.29 $ 6,620,856 1.92 Non-marketable and Other Securities The components of our non-marketable and other investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: (Dollars in thousands) September 30, 2016 December 31, 2015 Non-marketable and other securities: Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 141,841 $ 152,237 Other venture capital investments (2) 2,040 2,040 Other securities (fair value accounting) (3) 579 548 Non-marketable securities (equity method accounting) (4): Venture capital and private equity fund investments 84,904 85,705 Debt funds 18,971 21,970 Other investments 128,422 118,532 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (5) 115,113 120,676 Other investments 26,834 18,882 Investments in qualified affordable housing projects, net (6) 106,474 154,356 Total non-marketable and other securities $ 625,178 $ 674,946 (1) The following table shows the amounts of venture capital and private equity fund investments held by the following funds and our ownership percentage of each fund at September 30, 2016 and December 31, 2015 (fair value accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % SVB Strategic Investors Fund, LP $ 17,940 12.6 % $ 20,794 12.6 % SVB Capital Preferred Return Fund, LP 57,488 20.0 60,619 20.0 SVB Capital—NT Growth Partners, LP 59,692 33.0 62,983 33.0 Other private equity fund (i) 6,721 58.2 7,841 58.2 Total venture capital and private equity fund investments $ 141,841 $ 152,237 (i) At September 30, 2016 , we had a direct ownership interest of 41.5 percent in the other private equity fund and an indirect ownership interest of 12.6 percent through our ownership interest of SVB Capital—NT Growth Partners, LP and an indirect ownership interest of 4.1 percent through our ownership interest of SVB Capital Preferred Return Fund, LP. (2) The following table shows the amounts of other venture capital investments held by the following fund and our ownership percentage at September 30, 2016 and December 31, 2015 (fair value accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % Silicon Valley BancVentures, LP $ 2,040 10.7 % $ 2,040 10.7 % Total other venture capital investments $ 2,040 $ 2,040 (3) Investments classified as other securities (fair value accounting) represent 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, 2016 and December 31, 2015 (equity method accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: SVB Strategic Investors Fund II, LP $ 9,133 8.6 % $ 10,035 8.6 % SVB Strategic Investors Fund III, LP 21,369 5.9 23,926 5.9 SVB Strategic Investors Fund IV, LP 25,737 5.0 26,411 5.0 Strategic Investors Fund V funds 11,715 Various 10,470 Various Other venture capital and private equity fund investments 16,950 Various 14,863 Various Total venture capital and private equity fund investments $ 84,904 $ 85,705 Debt funds: Gold Hill Capital 2008, LP (i) $ 15,496 15.5 % $ 17,453 15.5 % Other debt funds 3,475 Various 4,517 Various Total debt funds $ 18,971 $ 21,970 Other investments: China Joint Venture investment $ 77,817 50.0 % $ 78,799 50.0 % Other investments 50,605 Various 39,733 Various Total other investments $ 128,422 $ 118,532 (i) At September 30, 2016 , 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 255 and 267 funds (primarily venture capital funds) at September 30, 2016 and December 31, 2015 , 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. The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $115 million and $218 million , respectively, as of September 30, 2016 . The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $121 million and $233 million , respectively, as of December 31, 2015 . (6) The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments at September 30, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Investments in qualified affordable housing projects, net $ 106,474 $ 154,356 Accrued expenses and other liabilities 52,846 90,978 The following table presents other information relating to our investments in qualified affordable housing projects for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Tax credits and other tax benefits recognized $ 3,995 $ 4,780 $ 12,127 $ 11,207 Amortization expense included in provision for income taxes (i) 2,556 2,011 9,746 7,549 (i) All investments are amortized using the proportional amortization method and amortization expense is included in the provision for income taxes. 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Gross gains on investment securities: Available-for-sale securities, at fair value (1) $ 84 $ 46 $ 14,238 $ 2,971 Non-marketable securities (fair value accounting): Venture capital and private equity fund investments 6,030 6,746 16,377 24,767 Other venture capital investments 4 15 17 198 Other securities (fair value accounting) 271 40 639 9,108 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 5,679 6,655 9,351 19,378 Debt funds 295 379 1,259 2,067 Other investments 7,487 2,282 11,528 5,009 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments 6,328 5,624 14,180 21,101 Other investments 150 — 163 576 Total gross gains on investment securities 26,328 21,787 67,752 85,175 Gross losses on investment securities: Available-for-sale securities, at fair value (1) (99 ) (33 ) (2,671 ) (221 ) Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (2,122 ) (1,148 ) (15,958 ) (2,695 ) Other venture capital investments — — (38 ) (52 ) Other securities (fair value accounting) (100 ) (325 ) (507 ) (1,117 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (444 ) (472 ) (4,465 ) (909 ) Debt funds (129 ) (1 ) (458 ) (589 ) Other investments (205 ) (902 ) (1,161 ) (2,042 ) Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) (51 ) (132 ) (492 ) (530 ) Other investments — (6 ) (238 ) (14 ) Total gross losses on investment securities (3,150 ) (3,019 ) (25,988 ) (8,169 ) Gains on investment securities, net $ 23,178 $ 18,768 $ 41,764 $ 77,006 (1) Includes realized gains (losses) on sales of available-for-sale equity securities that are recognized in the income statement. Unrealized gains (losses) on available-for-sale fixed income and equity securities are recognized in other comprehensive income. The cost basis of available-for-sale securities sold is determined on a specific identification basis. (2) For the three months ended September 30, 2016 and 2015 , includes OTTI losses of $0.1 million from the declines in value for 5 of the 255 investments and $0.1 million from the declines in value for 4 of the 270 investments, respectively. For the nine months ended September 30, 2016 and 2015 , includes OTTI losses of $0.5 million from the declines in value for 21 of the 255 investments and $0.4 million from the declines in value for 19 of the 270 investments, respectively. We concluded that any declines in value for the remaining investments were temporary, and as such, no OTTI was required to be recognized. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2016 | |
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/healthcare, private equity/venture capital 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 energy and resource innovation ("ERI"). Because of the diverse nature of ERI products and services, for our loan-related reporting purposes, ERI-related loans are reported under our hardware, software and internet, life science/healthcare and other commercial loan categories, as applicable. Our life science/healthcare clients primarily tend to be in the industries of biotechnology, medical devices, healthcare information technology and healthcare services. Loans made to private equity/venture capital 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 private equity/venture capital 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 $117 million and $115 million at September 30, 2016 and December 31, 2015 , respectively, is presented in the following table: (Dollars in thousands) September 30, 2016 December 31, 2015 Commercial loans: Software and internet $ 5,393,425 $ 5,437,915 Hardware 1,147,830 1,071,528 Private equity/venture capital 7,412,238 5,467,577 Life science/healthcare 1,732,917 1,710,642 Premium wine 190,223 201,175 Other 368,474 312,278 Total commercial loans 16,245,107 14,201,115 Real estate secured loans: Premium wine (1) 681,808 646,120 Consumer loans (2) 1,835,630 1,544,440 Other 43,925 44,830 Total real estate secured loans 2,561,363 2,235,390 Construction loans 64,689 78,682 Consumer loans 241,106 226,883 Total loans, net of unearned income (3) $ 19,112,265 $ 16,742,070 (1) Included in our premium wine portfolio are gross construction loans of $109 million and $121 million at September 30, 2016 and December 31, 2015 , respectively. (2) Consumer loans secured by real estate at September 30, 2016 and December 31, 2015 were comprised of the following: (Dollars in thousands) September 30, 2016 December 31, 2015 Loans for personal residence $ 1,563,697 $ 1,312,818 Loans to eligible employees 189,593 156,001 Home equity lines of credit 82,340 75,621 Consumer loans secured by real estate $ 1,835,630 $ 1,544,440 (3) Included within our total loan portfolio are credit card loans of $201 million and $177 million at September 30, 2016 and December 31, 2015 , respectively. Credit Quality The composition of loans, net of unearned income of $117 million and $115 million at September 30, 2016 and December 31, 2015 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) September 30, 2016 December 31, 2015 Commercial loans: Software and internet $ 5,393,425 $ 5,437,915 Hardware 1,147,830 1,071,528 Private equity/venture capital 7,412,238 5,467,577 Life science/healthcare 1,732,917 1,710,642 Premium wine 872,031 847,295 Other 477,088 435,790 Total commercial loans 17,035,529 14,970,747 Consumer loans: Real estate secured loans 1,835,630 1,544,440 Other consumer loans 241,106 226,883 Total consumer loans 2,076,736 1,771,323 Total loans, net of unearned income $ 19,112,265 $ 16,742,070 The following table summarizes the aging of our gross loans, broken out by portfolio segment and class of financing receivable as of September 30, 2016 and December 31, 2015 : (Dollars in thousands) 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Loans Past Due 90 Days or More Still Accruing Interest September 30, 2016: Commercial loans: Software and internet $ 11,975 $ 2,715 $ 59 $ 14,749 $ 5,359,727 $ 59 Hardware 4,909 6,577 — 11,486 1,095,263 — Private equity/venture capital 18 4 51 73 7,465,573 51 Life science/healthcare 856 143 — 999 1,690,070 — Premium wine 12,265 — — 12,265 860,353 — Other 93 3 15 111 479,754 15 Total commercial loans 30,116 9,442 125 39,683 16,950,740 125 Consumer loans: Real estate secured loans 961 — — 961 1,831,891 — Other consumer loans 285 — — 285 238,221 — Total consumer loans 1,246 — — 1,246 2,070,112 — Total gross loans excluding impaired loans 31,362 9,442 125 40,929 19,020,852 125 Impaired loans — 2,587 6,918 9,505 157,642 — Total gross loans $ 31,362 $ 12,029 $ 7,043 $ 50,434 $ 19,178,494 $ 125 December 31, 2015: Commercial loans: Software and internet $ 3,384 $ 6,638 $ — $ 10,022 $ 5,371,222 $ — Hardware 1,061 66 — 1,127 1,051,368 — Private equity/venture capital — 17 — 17 5,511,912 — Life science/healthcare 853 6,537 — 7,390 1,665,801 — Premium wine 16 65 — 81 847,249 — Other 14 22 — 36 438,313 — Total commercial loans 5,328 13,345 — 18,673 14,885,865 — Consumer loans: Real estate secured loans 4,911 865 — 5,776 1,537,421 — Other consumer loans 228 115 — 343 226,369 — Total consumer loans 5,139 980 — 6,119 1,763,790 — Total gross loans excluding impaired loans 10,467 14,325 — 24,792 16,649,655 — Impaired loans 333 — 7,221 7,554 175,130 — Total gross loans $ 10,800 $ 14,325 $ 7,221 $ 32,346 $ 16,824,785 $ — 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, 2016 and December 31, 2015 : (Dollars in thousands) Impaired loans for which there is a related allowance for loan losses Impaired loans for which there is no related allowance for loan losses Total carrying value of impaired loans Total unpaid principal of impaired loans September 30, 2016: Commercial loans: Software and internet $ 57,831 $ — $ 57,831 $ 76,679 Hardware 48,687 669 49,356 49,393 Private equity/venture capital — — — — Life science/healthcare 54,341 — 54,341 57,222 Premium wine 1,285 — 1,285 1,285 Other 417 — 417 417 Total commercial loans 162,561 669 163,230 184,996 Consumer loans: Real estate secured loans 1,518 — 1,518 2,789 Other consumer loans 2,399 — 2,399 2,399 Total consumer loans 3,917 — 3,917 5,188 Total $ 166,478 $ 669 $ 167,147 $ 190,184 December 31, 2015: Commercial loans: Software and internet $ 100,866 $ — $ 100,866 $ 125,494 Hardware 27,736 — 27,736 27,869 Private equity/venture capital — — — — Life science/healthcare 50,429 925 51,354 55,310 Premium wine 898 1,167 2,065 2,604 Other 520 — 520 520 Total commercial loans 180,449 2,092 182,541 211,797 Consumer loans: Real estate secured loans 143 — 143 1,393 Other consumer loans — — — — Total consumer loans 143 — 143 1,393 Total $ 180,592 $ 2,092 $ 182,684 $ 213,190 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, 2016 and 2015 : Three months ended September 30, Average impaired loans Interest income on impaired loans (dollars in thousands) 2016 2015 2016 2015 (1) Commercial loans: Software and internet $ 61,481 $ 77,156 $ 70 $ — Hardware 45,353 2,796 761 — Life science/healthcare 55,558 17,184 128 — Premium wine 1,291 1,213 19 — Other 3,768 3,132 6 — Total commercial loans 167,451 101,481 984 — Consumer loans: Real estate secured loans 584 162 — — Other consumer loans 1,324 — 6 — Total consumer loans 1,908 162 6 — Total average impaired loans $ 169,359 $ 101,643 $ 990 $ — (1) For the three months ended September 30, 2015 all impaired loans were nonaccrual loans and no interest income was recognized. Nine months ended September 30, Average impaired loans Interest income on impaired loans (dollars in thousands) 2016 2015 2016 2015 (1) Commercial loans: Software and internet $ 84,005 $ 54,543 $ 133 $ — Hardware 31,000 1,944 1,467 — Life science/healthcare 42,857 6,526 128 — Premium wine 1,834 1,245 54 — Other 4,369 3,498 21 — Total commercial loans 164,065 67,756 1,803 — Consumer loans: Real estate secured loans 282 180 — — Other consumer loans 715 55 17 — Total consumer loans 997 235 17 — Total average impaired loans $ 165,062 $ 67,991 $ 1,820 $ — (1) For the nine months ended September 30, 2015 all impaired loans were nonaccrual loans and no interest income was recognized. The following tables summarize the activity relating to our allowance for loan losses for the three and nine months ended September 30, 2016 and 2015 , broken out by portfolio segment: Three months ended September 30, 2016 (dollars in thousands) Beginning Balance June 30, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance September 30, 2016 Commercial loans: Software and internet $ 104,229 $ (16,526 ) $ 305 $ 8,591 $ (261 ) $ 96,338 Hardware 23,871 (3,058 ) 1,080 11,048 (336 ) 32,605 Private equity/venture capital 49,807 — — 2,203 (67 ) 51,943 Life science/healthcare 41,852 (28 ) 361 (5,298 ) 161 37,048 Premium wine 4,810 — — 288 (9 ) 5,089 Other 9,480 (5,004 ) 207 142 (4 ) 4,821 Total commercial loans 234,049 (24,616 ) 1,953 16,974 (516 ) 227,844 Consumer loans 10,674 — 131 1,976 (60 ) 12,721 Total allowance for loan losses $ 244,723 $ (24,616 ) $ 2,084 $ 18,950 $ (576 ) $ 240,565 Three months ended September 30, 2015 (dollars in thousands) Beginning Balance June 30, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance September 30, 2015 Commercial loans: Software and internet $ 106,728 $ (24,815 ) $ 195 $ 5,965 $ (7 ) $ 88,066 Hardware 20,472 — 240 (70 ) — 20,642 Private equity/venture capital 29,276 — — 3,170 (4 ) 32,442 Life science/healthcare 17,233 (117 ) 50 19,815 (22 ) 36,959 Premium wine 4,409 — — 253 — 4,662 Other 5,894 (4,186 ) 173 2,941 (49 ) 4,773 Total commercial loans 184,012 (29,118 ) 658 32,074 (82 ) 187,544 Consumer loans 8,632 — 4 1,329 (2 ) 9,963 Total allowance for loan losses $ 192,644 $ (29,118 ) $ 662 $ 33,403 $ (84 ) $ 197,507 (1) Reflects foreign currency translation adjustments within the allowance for loan losses. Prior period amounts were previously reported with loan recoveries and have been revised to conform to current period presentation. Nine months ended September 30, 2016 (dollars in thousands) Beginning Balance December 31, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance September 30, 2016 Commercial loans: Software and internet $ 103,045 $ (56,742 ) $ 4,525 $ 46,438 $ (928 ) $ 96,338 Hardware 23,085 (6,559 ) 1,502 15,010 (433 ) 32,605 Private equity/venture capital 35,282 — — 17,008 (347 ) 51,943 Life science/healthcare 36,576 (3,029 ) 1,037 3,252 (788 ) 37,048 Premium wine 5,205 — — (138 ) 22 5,089 Other 4,252 (5,034 ) 880 4,573 150 4,821 Total commercial loans 207,445 (71,364 ) 7,944 86,143 (2,324 ) 227,844 Consumer loans 10,168 (102 ) 214 2,481 (40 ) 12,721 Total allowance for loan losses $ 217,613 $ (71,466 ) $ 8,158 $ 88,624 $ (2,364 ) $ 240,565 Nine months ended September 30, 2015 (dollars in thousands) Beginning Balance December 31, 2014 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance September 30, 2015 Commercial loans: Software and internet $ 80,981 $ (26,980 ) $ 1,239 $ 32,834 $ (8 ) $ 88,066 Hardware 25,860 (4,049 ) 3,049 (4,291 ) 73 20,642 Private equity/venture capital 27,997 — — 4,551 (106 ) 32,442 Life science/healthcare 15,208 (3,336 ) 129 24,976 (18 ) 36,959 Premium wine 4,473 — 7 182 — 4,662 Other 3,253 (4,974 ) 729 5,874 (109 ) 4,773 Total commercial loans 157,772 (39,339 ) 5,153 64,126 (168 ) 187,544 Consumer loans 7,587 — 136 2,242 (2 ) 9,963 Total allowance for loan losses $ 165,359 $ (39,339 ) $ 5,289 $ 66,368 $ (170 ) $ 197,507 (1) Reflects foreign currency translation adjustments within the allowance for loan losses. Prior period amounts were previously reported with loan recoveries and have been revised to conform to current period presentation. The following table summarizes the allowance for loan losses individually and collectively evaluated for impairment as of September 30, 2016 and December 31, 2015 , broken out by portfolio segment: September 30, 2016 December 31, 2015 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment (Dollars in thousands) Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Commercial loans: Software and internet $ 24,815 $ 57,831 $ 71,523 $ 5,335,594 $ 34,098 $ 100,866 $ 68,947 $ 5,337,049 Hardware 6,041 49,356 26,564 1,098,474 3,160 27,736 19,925 1,043,792 Private equity/venture capital — — 51,943 7,412,238 — — 35,282 5,467,577 Life science/healthcare 18,206 54,341 18,842 1,678,576 20,230 51,354 16,346 1,659,288 Premium wine 128 1,285 4,961 870,746 90 2,065 5,115 845,230 Other 42 417 4,779 476,671 52 520 4,200 435,270 Total commercial loans 49,232 163,230 178,612 16,872,299 57,630 182,541 149,815 14,788,206 Consumer loans 1,141 3,917 11,580 2,072,819 143 143 10,025 1,771,180 Total $ 50,373 $ 167,147 $ 190,192 $ 18,945,118 $ 57,773 $ 182,684 $ 159,840 $ 16,559,386 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)”. When a significant payment delay occurs on a criticized loan, the loan is impaired. The loan is also considered for nonaccrual status if full repayment is determined to be improbable. All of our nonaccrual loans are risk-rated 8 or 9 and are classified under the nonperforming impaired category. (For further description of nonaccrual loans, refer to Note 2—“Summary of Significant Accounting Policies” under Part II, Item 8 of our 2015 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, 2016 and December 31, 2015 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total September 30, 2016: Commercial loans: Software and internet $ 4,752,376 $ 622,100 $ 5,012 $ 52,819 $ 5,432,307 Hardware 937,383 169,366 46,849 2,507 1,156,105 Private equity/venture capital 7,465,003 643 — — 7,465,646 Life science/healthcare 1,549,334 141,735 6,581 47,760 1,745,410 Premium wine 855,731 16,887 1,285 — 873,903 Other 471,320 8,545 417 — 480,282 Total commercial loans 16,031,147 959,276 60,144 103,086 17,153,653 Consumer loans: Real estate secured loans 1,831,054 1,798 — 1,518 1,834,370 Other consumer loans 238,506 — 787 1,612 240,905 Total consumer loans 2,069,560 1,798 787 3,130 2,075,275 Total gross loans $ 18,100,707 $ 961,074 $ 60,931 $ 106,216 $ 19,228,928 December 31, 2015: Commercial loans: Software and internet $ 4,933,179 $ 448,065 $ 23,321 $ 77,545 $ 5,482,110 Hardware 955,675 96,820 27,306 430 1,080,231 Private equity/venture capital 5,474,929 37,000 — — 5,511,929 Life science/healthcare 1,544,555 128,636 7,247 44,107 1,724,545 Premium wine 825,058 22,272 898 1,167 849,395 Other 429,481 8,868 520 — 438,869 Total commercial loans 14,162,877 741,661 59,292 123,249 15,087,079 Consumer loans: Real estate secured loans 1,539,468 3,729 — 143 1,543,340 Other consumer loans 224,601 2,111 — — 226,712 Total consumer loans 1,764,069 5,840 — 143 1,770,052 Total gross loans $ 15,926,946 $ 747,501 $ 59,292 $ 123,392 $ 16,857,131 TDRs As of September 30, 2016 we had 19 TDRs with a total carrying value of $76.0 million where concessions have been granted to borrowers experiencing financial difficulties, in an attempt to maximize collection. There were $4.7 million of unfunded commitments available for funding to the clients associated with these TDRs as of September 30, 2016 . The following table summarizes our loans modified in TDRs, broken out by portfolio segment and class of financing receivables at September 30, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Loans modified in TDRs: Commercial loans: Software and internet $ 36,517 $ 56,790 Hardware 10,333 473 Life science/healthcare 25,029 51,878 Premium wine 2,962 2,065 Other 417 519 Total commercial loans 75,258 111,725 Consumer loans: Other consumer loans 786 — Total consumer loans 786 — Total $ 76,044 $ 111,725 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Loans modified in TDRs during the period: Commercial loans: Software and internet $ 78 $ 51,749 $ 4,569 $ 57,766 Hardware 10,329 — 10,329 2,031 Life science/healthcare 1,714 29,530 1,714 29,530 Premium wine — — 495 — Other — 518 — 518 Total commercial loans 12,121 81,797 17,107 89,845 Consumer loans: Other consumer loans — — 786 — Total loans modified in TDRs during the period (1) $ 12,121 $ 81,797 $ 17,893 $ 89,845 (1) There were $0.7 million and $3.5 million of partial charge-offs during the three and nine months ended September 30, 2016 and $22.4 million of partial charge-offs for loans classified as TDRs in our software and internet loan portfolio during the three and nine months ended September 30, 2015 . During the three and nine months ended September 30, 2016 , new TDRs of $12.0 million and $17.6 million , respectively, were modified through payment deferrals granted to our clients. During the three and nine months ended September 30, 2016 , new TDRs of $0.1 million and $0.3 million , respectively, were modified through partial forgiveness of principal. During the three and nine months ended September 30, 2015 , new TDRs of $81.8 million and $89.8 million , respectively, were modified through payment deferrals granted to our clients. 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Software and internet $ — $ 11,107 $ 584 $ 17,124 Hardware — 2,031 — 2,031 Life science/healthcare — 958 — 958 Premium wine 790 — 790 — Total TDRs modified within the previous 12 months that defaulted in the period $ 790 $ 14,096 $ 1,374 $ 20,113 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, 2016 . |
Short-Term Borrowings and Long-
Short-Term Borrowings and Long-Term Debt | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 : Carrying Value (Dollars in thousands) Maturity Principal value at September 30, 2016 September 30, December 31, Short-term borrowings: Short-term FHLB advances $ — $ — $ 638,000 Federal funds purchased — — 135,000 Other short-term borrowings (1) 2,421 2,421 1,900 Total short-term borrowings $ 2,421 $ 774,900 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 346,900 $ 346,667 5.375% Senior Notes September 15, 2020 350,000 347,440 347,016 6.05% Subordinated Notes (2) June 1, 2017 45,964 47,094 48,350 7.0% Junior Subordinated Debentures October 15, 2033 50,000 54,537 54,669 Total long-term debt $ 795,971 $ 796,702 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor. (2) At September 30, 2016 and December 31, 2015 , included in the carrying value of our 6.05% Subordinated Notes was an interest rate swap valued at $1.3 million and $2.8 million , respectively, related to hedge accounting associated with the notes. Interest expense related to short-term borrowings and long-term debt was $9.7 million and $28.2 million for the three and nine months ended September 30, 2016 , respectively, and $9.0 million and $25.9 million for the three and nine months ended September 30, 2015 , respectively. Interest expense is net of the hedge accounting impact from our interest rate swap agreement related to our 6.05% Subordinated Notes. The weighted average interest rate associated with our short-term borrowings as of September 30, 2016 and December 31, 2015 was 0.40 percent and 0.32 percent , respectively. Available Lines of Credit We have certain facilities in place to enable us to access short-term borrowings on a secured (using high-quality fixed income securities as collateral) and an unsecured basis. These include repurchase agreements and uncommitted federal funds lines with various financial institutions. As of September 30, 2016 , we did not borrow 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. Treasury securities) at September 30, 2016 totaled $1.8 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, 2016 totaled $0.8 billion , all of which was also unused and available to support additional borrowings. |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
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/healthcare 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. The net cash benefit associated with our interest rate swap is 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 swap 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. We do not designate any foreign exchange forward contracts as derivative instruments that qualify for hedge accounting. Gains or losses from 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. Other Derivative Instruments Also included in our derivative instruments are equity warrant assets and client forward and option contracts, and client interest rate contracts. For further description of these other derivative instruments, refer to Note 2-“Summary of Significant Accounting Policies" under Part II, Item 8 of our 2015 Form 10-K. 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. With respect to measuring counterparty credit risk for derivative instruments, we measure the fair value of a group of financial assets and financial liabilities on a net risk basis by counterparty portfolio. The total notional or contractual amounts, fair value, collateral and net exposure of our derivative financial instruments at September 30, 2016 and December 31, 2015 were as follows: September 30, 2016 December 31, 2015 (Dollars in thousands) Balance Sheet Location Notional or Contractual Amount Fair Value Collateral (1) Net Exposure (2) Notional or Contractual Amount Fair Value Collateral (1) Net Exposure (2) Derivatives designated as hedging instruments: Interest rate risks: Interest rate swaps Other assets $ 45,964 $ 1,324 $ — $ 1,324 $ 45,964 $ 2,768 $ — $ 2,768 Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards Other assets 138,796 1,676 — 1,676 49,287 809 — 809 Foreign exchange forwards Other liabilities 53,051 (576 ) — (576 ) 6,586 (669 ) — (669 ) Net exposure 1,100 — 1,100 140 — 140 Other derivative instruments: Equity warrant assets Other assets 212,802 145,340 — 145,340 210,102 137,105 — 137,105 Other derivatives: Client foreign exchange forwards Other assets 1,056,821 44,636 2,421 42,215 935,514 29,722 1,900 27,822 Client foreign exchange forwards Other liabilities 869,914 (36,188 ) — (36,188 ) 841,182 (24,978 ) — (24,978 ) Client foreign currency options Other assets 243,860 2,750 — 2,750 46,625 706 — 706 Client foreign currency options Other liabilities 243,860 (2,750 ) — (2,750 ) 46,625 (706 ) — (706 ) Client interest rate derivatives Other assets 520,081 8,759 — 8,759 422,741 3,973 — 3,973 Client interest rate derivatives Other liabilities 558,962 (9,324 ) — (9,324 ) 422,741 (4,384 ) — (4,384 ) Net exposure 7,883 2,421 5,462 4,333 1,900 2,433 Net $ 155,647 $ 2,421 $ 153,226 $ 144,346 $ 1,900 $ 142,446 (1) Cash collateral received from our counterparties in relation to market value exposures of derivative contracts in our favor 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, 2016 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, 2016 . 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, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) Statement of income location 2016 2015 2016 2015 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ 580 $ 631 $ 1,778 $ 1,903 Changes in fair value of interest rate swaps Gains on derivative instruments, net (3 ) (8 ) (33 ) (22 ) Net gains associated with interest rate risk derivatives $ 577 $ 623 $ 1,745 $ 1,881 Derivatives not designated as hedging instruments: Currency exchange risks: (Losses) gains on revaluations of internal foreign currency instruments, net Other noninterest income $ (1,406 ) $ 186 $ (4,222 ) $ (11,667 ) Gains (losses) on internal foreign exchange forward contracts, net Gains on derivative instruments, net 1,352 (218 ) 3,067 11,626 Net losses associated with internal currency risk $ (54 ) $ (32 ) $ (1,155 ) $ (41 ) Other derivative instruments: Gains (losses) on revaluations of client foreign currency instruments, net Other noninterest income $ 3,488 2 $ 7,009 (177 ) (Losses) gains on client foreign exchange forward contracts, net Gains on derivative instruments, net (3,194 ) 179 (8,780 ) 459 Net gains (losses) associated with client currency risk $ 294 $ 181 $ (1,771 ) $ 282 Net gains on equity warrant assets Gains on derivative instruments, net $ 21,558 $ 10,685 $ 33,252 $ 54,579 Net gains (losses) on other derivatives Gains on derivative instruments, net $ 31 $ (394 ) $ (659 ) $ (352 ) 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, 2016 and December 31, 2015 : 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 September 30, 2016 Derivative Assets: Interest rate swaps $ 1,324 $ — $ 1,324 $ (1,324 ) $ — $ — Foreign exchange forwards 46,312 — 46,312 (19,377 ) (2,421 ) 24,514 Foreign currency options 2,750 — 2,750 (1,246 ) — 1,504 Client interest rate derivatives 8,759 — 8,759 (8,719 ) — 40 Total derivative assets: 59,145 — 59,145 (30,666 ) (2,421 ) 26,058 Reverse repurchase, securities borrowing, and similar arrangements 163,719 — 163,719 (163,719 ) — — Total $ 222,864 $ — $ 222,864 $ (194,385 ) $ (2,421 ) $ 26,058 December 31, 2015 Derivative Assets: Interest rate swaps $ 2,768 $ — $ 2,768 $ (2,768 ) $ — $ — Foreign exchange forwards 30,531 — 30,531 (18,141 ) (1,900 ) 10,490 Foreign currency options 711 (5 ) 706 (706 ) — — Client interest rate derivatives 3,973 — 3,973 (3,973 ) — — Total derivative assets: 37,983 (5 ) 37,978 (25,588 ) (1,900 ) 10,490 Reverse repurchase, securities borrowing, and similar arrangements 125,391 — 125,391 (125,391 ) — — Total $ 163,374 $ (5 ) $ 163,369 $ (150,979 ) $ (1,900 ) $ 10,490 The following table summarizes our liabilities subject to enforceable master netting arrangements as of September 30, 2016 and December 31, 2015 : 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 September 30, 2016 Derivative Liabilities: Foreign exchange forwards $ 36,764 $ — $ 36,764 $ (17,675 ) $ — $ 19,089 Foreign currency options 2,750 — 2,750 (1,925 ) — 825 Client interest rate derivatives 9,324 — 9,324 (9,324 ) — — Total derivative liabilities: 48,838 — 48,838 (28,924 ) — 19,914 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 48,838 $ — $ 48,838 $ (28,924 ) $ — $ 19,914 December 31, 2015 Derivative Liabilities: Foreign exchange forwards $ 25,647 $ — $ 25,647 $ (10,818 ) $ — $ 14,829 Foreign currency options 711 (5 ) 706 — — 706 Client interest rate derivatives 4,384 — 4,384 (4,384 ) — — Total derivative liabilities: 30,742 (5 ) 30,737 (15,202 ) — 15,535 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 30,742 $ (5 ) $ 30,737 $ (15,202 ) $ — $ 15,535 |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Fund management fees $ 5,231 $ 4,074 $ 14,149 $ 11,657 Service-based fee income 2,029 1,931 6,270 6,450 Gains (losses) on revaluation of client foreign currency instruments, net (1) 3,488 2 7,009 (177 ) (Losses) gains on revaluation of internal foreign currency instruments, net (2) (1,406 ) 186 (4,222 ) (11,667 ) Other (3) 11,350 4,884 19,711 16,052 Total other noninterest income $ 20,692 $ 11,077 $ 42,917 $ 22,315 (1) Represents the net revaluation of client foreign currency denominated financial instruments. We enter into client foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client foreign currency denominated financial instruments. The changes in the fair value of client foreign exchange forward contracts are included within noninterest in come in the line item "Gains on derivative instruments, net". (2) Represents the net revaluation of foreign currency denominated financial instruments issued and held by us, primarily loans, deposits and cash. We enter into internal foreign exchange forward contracts to economically reduce our foreign exchange exposure related to these foreign currency denominated financial instruments issued and held by us. The changes in the fair value of internal foreign exchange forward contracts are included within noninterest in come in the line item "Gains on derivative instruments, net". (3) Includes dividends on FHLB/FRB stock, correspondent bank rebate income, incentive fees related to carried interest and other fee income. A summary of other noninterest expense for the three and nine months ended September 30, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Lending and other client related processing costs $ 5,885 $ 3,608 $ 13,721 $ 10,861 Telephone 2,460 2,224 7,109 6,727 Data processing services 2,137 2,083 6,353 5,274 Dues and publications 809 521 2,258 1,803 Postage and supplies 598 728 2,172 2,220 Other 3,644 5,106 12,679 15,216 Total other noninterest expense $ 15,533 $ 14,270 $ 44,292 $ 42,101 |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2016 | |
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 Global Commercial Bank and SVB Private Bank 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, these 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 a funding credit is given for deposits raised, and a funding charge is made for loans funded. 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. For reporting purposes, SVB Financial Group has three operating segments for which we report our financial information: • Global Commercial Bank is comprised of results from the following: ◦ Our Commercial Bank products and services are provided by the Bank and its subsidiaries to commercial clients in the technology, life science/healthcare and private equity/venture capital industries. The Bank provides solutions to the financial needs of commercial clients, through credit, global treasury management, foreign exchange, global trade finance, and other services. It serves clients within the United States, as well as non-U.S. clients in key international innovation markets. In addition, the Bank and its subsidiaries offer a variety of investment services and solutions to its clients that enable them to effectively manage their assets. ◦ Our Private Equity Division provides banking products and services primarily to our private equity and venture capital clients. ◦ Our Wine practice provides banking products and services to our premium wine industry clients, including vineyard development loans. ◦ SVB Analytics provides equity valuation services to companies and private equity/venture capital firms. ◦ Debt Fund Investments is comprised of our investments in certain debt funds in which we are a strategic investor. • SVB Private Bank is the private banking division of the Bank, which provides a range of personal financial solutions for consumers. Our clients are primarily private equity/venture capital professionals and executive leaders of the innovation companies they support. We offer a customized suite of private banking services, including mortgages, home equity lines of credit, restricted stock purchase loans, capital call lines of credit and other secured and unsecured lending, as well as cash and wealth management services. • 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, on a more limited basis, SVB Financial Group. The SVB Capital family of funds is comprised of direct venture funds that invest in companies and funds of funds that invest in other venture capital funds. SVB Capital generates income for the Company primarily from investment returns (including carried interest) and management fees. The summary financial results of our operating segments are presented along with a reconciliation to our consolidated interim results. Our segment information for the three and nine months ended September 30, 2016 and 2015 is as follows: (Dollars in thousands) Global Commercial Bank (1) SVB Private Bank SVB Capital (1) Other Items (2) Total Three months ended September 30, 2016 Net interest income $ 262,484 $ 13,298 $ 1 $ 13,378 $ 289,161 Provision for loan losses (16,974 ) (1,976 ) — — (18,950 ) Noninterest income 79,226 664 30,619 33,631 144,140 Noninterest expense (3) (159,429 ) (3,122 ) (3,924 ) (55,352 ) (221,827 ) Income (loss) before income tax expense (4) $ 165,307 $ 8,864 $ 26,696 $ (8,343 ) $ 192,524 Total average loans, net of unearned income $ 16,357,099 $ 2,074,982 $ — $ 215,113 $ 18,647,194 Total average assets (5) 40,829,515 2,091,244 325,321 205,249 43,451,329 Total average deposits 36,484,125 1,115,446 — 310,183 37,909,754 Three months ended September 30, 2015 Net interest income $ 217,932 $ 11,667 $ 1 $ 25,060 $ 254,660 Provision for loan losses (32,074 ) (1,329 ) — — (33,403 ) Noninterest income 68,517 506 17,332 22,122 108,477 Noninterest expense (3) (137,637 ) (2,761 ) (3,745 ) (40,612 ) (184,755 ) Income before income tax expense (4) $ 116,738 $ 8,083 $ 13,588 $ 6,570 $ 144,979 Total average loans, net of unearned income $ 13,047,507 $ 1,669,858 $ — $ 199,287 $ 14,916,652 Total average assets (5) 39,688,677 1,664,602 334,045 326,896 42,014,220 Total average deposits 36,151,235 1,041,773 — 190,059 37,383,067 Nine months ended September 30, 2016 Net interest income (expense) $ 773,342 $ 40,508 $ (51 ) $ 40,119 $ 853,918 Provision for loan losses (86,143 ) (2,481 ) — — (88,624 ) Noninterest income 231,295 2,053 44,492 65,210 343,050 Noninterest expense (3) (461,058 ) (9,481 ) (11,521 ) (144,152 ) (626,212 ) Income (loss) before income tax expense (4) $ 457,436 $ 30,599 $ 32,920 $ (38,823 ) $ 482,132 Total average loans, net of unearned income $ 15,769,964 $ 1,978,175 $ — $ 207,358 $ 17,955,497 Total average assets (5) 41,021,311 1,986,215 334,328 327,862 43,669,716 Total average deposits 37,002,027 1,120,575 — 321,388 38,443,990 Nine months ended September 30, 2015 Net interest income $ 625,611 $ 32,499 $ 3 $ 79,243 $ 737,356 Provision for loan losses (64,126 ) (2,242 ) — — (66,368 ) Noninterest income 197,740 1,498 57,919 101,131 358,288 Noninterest expense (3) (421,425 ) (8,869 ) (10,935 ) (128,179 ) (569,408 ) Income before income tax expense (4) $ 337,800 $ 22,886 $ 46,987 $ 52,195 $ 459,868 Total average loans, net of unearned income $ 12,721,972 $ 1,529,095 $ — $ 180,718 $ 14,431,785 Total average assets (5) 37,449,533 1,527,339 335,136 594,681 39,906,689 Total average deposits 34,124,748 1,125,345 — 163,260 35,413,353 (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. Noncontrolling interest is included within "Other Items". (2) The "Other Items" column reflects the adjustments necessary to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP. Net interest income consists primarily of interest earned from our fixed income investment portfolio, net of FTP. Noninterest income consists primarily of gains on equity warrant assets and gains on the sale of fixed income securities. Noninterest expense consists primarily of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. (3) The Global Commercial Bank segment includes direct depreciation and amortization of $6.4 million and $4.9 million for the three months ended September 30, 2016 and 2015 , respectively, and $18.3 million and $14.9 million for the nine months ended September 30, 2016 and 2015 , respectively. (4) The internal reporting model used by management to assess segment performance does not calculate income tax expense by segment. Our effective tax rate is a reasonable approximation of the segment rates. (5) Total average assets equal the greater of total average assets or the sum of total average liabilities and total average stockholders’ equity for each segment to reconcile the results to the consolidated financial statements prepared in conformity with GAAP. |
Off-Balance Sheet Arrangements,
Off-Balance Sheet Arrangements, Guarantees and Other Commitments | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,377,647 $ 1,312,734 Variable interest rate commitments 13,262,927 12,822,461 Total loan commitments available for funding 14,640,574 14,135,195 Commercial and standby letters of credit (2) 1,656,512 1,479,164 Total unfunded credit commitments $ 16,297,086 $ 15,614,359 Commitments unavailable for funding (3) $ 2,008,689 $ 2,026,532 Maximum lending limits for accounts receivable factoring arrangements (4) 856,096 1,006,404 Reserve for unfunded credit commitments (5) 35,924 34,415 (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, 2016 . 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 Year or Less Expires After One Year Total Amount Outstanding Maximum Amount of Future Payments Financial standby letters of credit $ 1,489,185 $ 49,744 $ 1,538,929 $ 1,538,929 Performance standby letters of credit 94,872 14,601 109,473 109,473 Commercial letters of credit 8,110 — 8,110 8,110 Total $ 1,592,167 $ 64,345 $ 1,656,512 $ 1,656,512 Deferred fees related to financial and performance standby letters of credit were $10 million at both September 30, 2016 and December 31, 2015 . At September 30, 2016 , collateral in the form of cash of $747 million was 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 Subject to applicable regulatory requirements, including the Volcker Rule, 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, 2016 : Our Ownership in Venture Capital and Private Equity Funds (Dollars in thousands) SVBFG Capital Commitments SVBFG Unfunded Commitments SVBFG Ownership of each Fund (4) 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 874 — 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 1,275 5.9 SVB Strategic Investors Fund IV, LP 12,239 2,325 5.0 Strategic Investors Fund V funds 515 142 Various SVB Capital Preferred Return Fund, LP 12,688 — 20.0 SVB Capital—NT Growth Partners, LP 24,670 1,340 33.0 Other private equity fund (2) 9,338 — 58.2 Debt funds 58,493 — Various Other fund investments (3) 298,937 12,114 Various Total $ 470,254 $ 19,366 (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 265 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. (4) We are subject to the Volcker Rule, which restricts or limits us from sponsoring or having ownership interests in “covered” funds including venture capital and private equity funds. See “Business - Supervision and Regulation” under Item 1 of Part I of our 2015 Form 10-K. 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, 2016 : Limited Partnership (Dollars in thousands) Unfunded Commitments SVB Strategic Investors Fund, LP $ 1,338 SVB Capital Preferred Return Fund, LP 2,006 SVB Capital—NT Growth Partners, LP 1,965 Total $ 5,309 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2016 | |
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. Our U.S. federal tax returns for 2013 and subsequent years remain open to full examination. Our California and Massachusetts tax returns for 2011 and subsequent tax years remain open to full examination. At September 30, 2016 , our unrecognized tax benefit was $3.1 million , the recognition of which would reduce our income tax expense by $2.0 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 months ended September 30, 2016 . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2016 | |
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. 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 U.S. Treasury securities, 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 independent external pricing service providers who have experience in valuing these securities and by comparison to and/or average of quoted market prices obtained from independent external brokers. We perform a monthly analysis on the values received from third parties to ensure that the prices represent a reasonable estimate of the fair value. The procedures include, but are not limited to, initial and ongoing review of third party pricing methodologies, review of pricing trends and monitoring of trading volumes. 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. We ensure prices received from independent brokers represent a reasonable estimate of the fair value through the use of observable market inputs including comparable trades, yield curve, spreads and, when available, market indices. As a result of this analysis, if the Company determines that there is a more appropriate fair value based upon the available market data, the price received from the third party is adjusted accordingly. Below is a summary of the significant inputs used for each class of Level 2 assets and liabilities: 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 derivative assets and liabilities: Fair value measurements of interest rate derivatives 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. 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: 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 on quoted market prices less a discount if the securities are subject to certain sales 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% for certain warrants that have lock-up restrictions or other features that indicate a discount to fair value is warranted. As a lock-up term nears, and other sale restrictions are lifted, discounts are adjusted downward to zero 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, 2016 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at September 30, 2016 Assets Available-for-sale securities: U.S. Treasury securities $ 8,939,627 $ — $ — $ 8,939,627 U.S. agency debentures — 2,126,572 — 2,126,572 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,092,289 — 1,092,289 Agency-issued collateralized mortgage obligations - variable rate — 504,487 — 504,487 Equity securities 381 2,341 — 2,722 Total available-for-sale securities 8,940,008 3,725,689 — 12,665,697 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value (1) — — — 141,841 Other venture capital investments (2) — — 2,040 2,040 Other securities (2) 579 — — 579 Total non-marketable and other securities (fair value accounting) 579 — 2,040 144,460 Other assets: Interest rate swaps — 1,324 — 1,324 Foreign exchange forward and option contracts — 49,062 — 49,062 Equity warrant assets — 2,120 143,220 145,340 Client interest rate derivatives — 8,759 — 8,759 Total assets $ 8,940,587 $ 3,786,954 $ 145,260 $ 13,014,642 Liabilities Foreign exchange forward and option contracts $ — $ 39,514 $ — $ 39,514 Client interest rate derivatives — 9,324 — 9,324 Total liabilities $ — $ 48,838 $ — $ 48,838 (1) In accordance with the accounting standard (ASU 2015-07, Fair Value Measurement (Topic 820)), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) Included in Level 1 and Level 3 assets are $0.5 million and $1.8 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, 2015 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2015 Assets Available-for-sale securities: U.S. Treasury securities $ 11,678,035 $ — $ — $ 11,678,035 U.S. agency debentures — 2,690,029 — 2,690,029 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,399,279 — 1,399,279 Agency-issued collateralized mortgage obligations - variable rate — 607,936 — 607,936 Equity securities 4,517 952 — 5,469 Total available-for-sale securities 11,682,552 4,698,196 — 16,380,748 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value (1) — — — 152,237 Other venture capital investments (2) — — 2,040 2,040 Other securities (2) 548 — — 548 Total non-marketable and other securities (fair value accounting) 548 — 2,040 154,825 Other assets: Interest rate swaps — 2,768 — 2,768 Foreign exchange forward and option contracts — 31,237 — 31,237 Equity warrant assets — 1,937 135,168 137,105 Client interest rate derivatives — 3,973 — 3,973 Total assets $ 11,683,100 $ 4,738,111 $ 137,208 $ 16,710,656 Liabilities Foreign exchange forward and option contracts $ — $ 26,353 $ — $ 26,353 Client interest rate derivatives — 4,384 — 4,384 Total liabilities $ — $ 30,737 $ — $ 30,737 (1) In accordance with the accounting standard (ASU 2015-07, Fair Value Measurement (Topic 820)), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) Included in Level 1 and Level 3 assets are $0.4 million and $1.8 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, 2016 and 2015 , respectively: (Dollars in thousands) Beginning Balance Total Realized and Unrealized Gains (Losses) Included in Income Sales Issuances Distributions and Other Settlements Transfers Out of Level 3 Ending Balance Three months ended September 30, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ 4 $ (4 ) $ — $ — $ — $ 2,040 Other assets: Equity warrant assets (2) 127,811 21,092 (10,682 ) 5,251 — (252 ) 143,220 Total assets $ 129,851 $ 21,096 $ (10,686 ) $ 5,251 $ — $ (252 ) $ 145,260 Three months ended September 30, 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 3,390 $ 15 $ — $ — $ (15 ) $ — $ 3,390 Other assets: Equity warrant assets (2) 120,037 11,551 (6,215 ) 3,556 — (486 ) 128,443 Total assets $ 123,427 $ 11,566 $ (6,215 ) $ 3,556 $ (15 ) $ (486 ) $ 131,833 Nine months ended September 30, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ (21 ) $ (4 ) $ — $ 25 $ — $ 2,040 Other assets: Equity warrant assets (2) 135,168 33,115 (34,276 ) 9,842 — (629 ) 143,220 Total assets $ 137,208 $ 33,094 $ (34,280 ) $ 9,842 $ 25 $ (629 ) $ 145,260 Nine months ended September 30, 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 3,291 $ 146 $ (32 ) $ — $ (15 ) $ — $ 3,390 Other assets: Equity warrant assets (2) 114,698 54,884 (48,374 ) 8,856 — (1,621 ) 128,443 Total assets $ 117,989 $ 55,030 $ (48,406 ) $ 8,856 $ (15 ) $ (1,621 ) $ 131,833 (1) Realized and unrealized gains (losses) are recorded in the line item “Gains on investment securities, net”, a component of noninterest income. (2) Realized and unrealized gains (losses) are recorded in the line item “Gains on derivative instruments, net”, a component of noninterest income. The following table presents the amount of net unrealized gains and losses included in earnings (which is inclusive of noncontrolling interest) attributable to Level 3 assets still held at September 30, 2016 and 2015 , respectively: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ — $ — $ — $ 158 Other assets: Equity warrant assets (2) 15,785 9,115 23,144 21,597 Total unrealized gains, net $ 15,785 $ 9,115 $ 23,144 $ 21,755 Unrealized gains attributable to noncontrolling interests $ — $ — $ — $ 141 (1) Unrealized gains (losses) are recorded in the line item “Gains on investment securities, net ”, a component of noninterest income. (2) Unrealized gains (losses) are recorded in the line item “Gains on derivative instruments, net ”, a component of noninterest income. The extent to which any unrealized gains or losses will become realized is subject to a variety of factors, including, among other things, the expiration of current sales restrictions to which these securities are subject, the actual sales of securities and the timing of such actual sales. The following table presents quantitative information about the significant unobservable inputs used for certain of our Level 3 fair value measurements at September 30, 2016 and December 31, 2015. 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, 2016: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 19,367 Modified Black-Scholes option pricing model Volatility 36.1 % Risk-Free interest rate 1.2 % Sales restrictions discount (2) 11.7 % Equity warrant assets (private portfolio) 123,853 Modified Black-Scholes option pricing model Volatility 36.6 % Risk-Free interest rate 0.8 % Marketability discount (3) 17.5 % Remaining life assumption (4) 45.0 % December 31, 2015: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,786 Modified Black-Scholes option pricing model Volatility 38.1 % Risk-Free interest rate 2.1 % Sales restrictions discount (2) 18.0 % Equity warrant assets (private portfolio) 133,382 Modified Black-Scholes option pricing model Volatility 36.0 % Risk-Free interest rate 1.1 % Marketability discount (3) 16.6 % Remaining life assumption (4) 45.0 % (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) We adjust quoted market prices of public companies, which are subject to certain sales restrictions. Sales restriction discounts generally range from 10% to 20% depending on the duration of the sales restrictions, which typically range from 3 to 6 months. (3) 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 upon various option-pricing models. On a quarterly basis, a sensitivity analysis is performed on our marketability discount. (4) 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, 2016 , the weighted average contractual remaining term was 5.9 years, compared to our estimated remaining life of 2.7 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. For the three and nine months ended September 30, 2016 and 2015 , we did not have any transfers between Level 2 and Level 1 or transfers between Level 3 and Level 1. Transfers from Level 3 to Level 2 for the three and nine months ended September 30, 2016 were due primarily due to the expiration of lock-up, and other sales restrictions on certain of our public warrant positions. Transfers from Level 3 to Level 2 for the three and nine months ended September 30, 2015 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. As 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 for which carrying value approximates fair value and estimated fair values of financial instruments not recorded at fair value on a recurring basis and excludes financial instruments and assets and liabilities already recorded at fair value as described above. Financial Instruments for which Carrying Value Approximates Fair Value Certain financial instruments that are not carried at fair value on the Consolidated Balance Sheets are carried at amounts that approximate fair value, due to their short-term nature and generally negligible credit risk. These instruments include cash and cash equivalents; FHLB and FRB stock; accrued interest receivable; short-term borrowings; short-term time deposits; and accrued interest payable. In addition, U.S. GAAP requires that the fair value of deposit liabilities with no stated maturity (i.e., demand, savings and certain money market deposits) be equal to their carrying value; recognition of the inherent funding value of these instruments is not permitted. Estimated Fair Values of Financial Instruments Not Recorded at Fair Value on a Recurring Basis Held-to-Maturity Securities Held-to-maturity securities include similar investments held in our available-for-sale securities portfolio and are valued using the same methodologies. All securities included in our held-to-maturity securities portfolio are valued using Level 2 inputs. Refer to Level 2 fair value measurements above for significant inputs used in the valuation of our held-to-maturity investment securities. Non-Marketable Securities (Cost and Equity Method Accounting) Non-marketable securities includes other investments (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) includes our investment in 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 30 th , for our September 30 th consolidated financial statements, adjusted for any contributions paid, distributions received from the investment, and significant fund transactions or market events during the reporting period. 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 . Long-Term Deposits The fair value of long-term 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. Long-Term Debt 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 notes. 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, 2016 and December 31, 2015 . 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, 2016 and December 31, 2015 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 September 30, 2016: Financial assets: Cash and cash equivalents $ 2,521,319 $ 2,521,319 $ 2,521,319 $ — $ — Held-to-maturity securities 7,791,949 7,885,333 — 7,885,333 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 124,955 134,174 — — 134,174 Non-marketable securities (cost and equity method accounting) measured at net asset value (1) 249,289 353,606 — — — Net commercial loans 16,807,685 17,089,586 — — 17,089,586 Net consumer loans 2,064,015 2,102,435 — — 2,102,435 FHLB and Federal Reserve Bank stock 57,466 57,466 — — 57,466 Accrued interest receivable 99,263 99,263 — 99,263 — Financial liabilities: Other short-term borrowings 2,421 2,421 2,421 — — Non-maturity deposits (2) 38,137,660 38,137,660 38,137,660 — — Time deposits 51,756 51,654 — 51,654 — 3.50% Senior Notes 346,900 355,681 — 355,681 — 5.375% Senior Notes 347,440 390,313 — 390,313 — 6.05% Subordinated Notes (3) 47,094 48,534 — 48,534 — 7.0% Junior Subordinated Debentures 54,537 53,608 — 53,608 — Accrued interest payable 4,886 4,886 — 4,886 — Off-balance sheet financial assets: Commitments to extend credit — 21,232 — — 21,232 December 31, 2015: Financial assets: Cash and cash equivalents $ 1,503,257 $ 1,503,257 $ 1,503,257 $ — $ — Held-to-maturity securities 8,790,963 8,758,622 — 8,758,622 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 114,795 117,172 — — 117,172 Non-marketable securities (cost and equity method accounting) measured at net asset value (1) 250,970 364,799 — — — Net commercial loans 14,763,302 14,811,588 — — 14,811,588 Net consumer loans 1,761,155 1,737,960 — — 1,737,960 FHLB and Federal Reserve Bank stock 56,991 56,991 — — 56,991 Accrued interest receivable 107,604 107,604 — 107,604 — Financial liabilities: Short-term FHLB advances 638,000 638,000 638,000 — — Federal funds purchased 135,000 135,000 135,000 — — Other short-term borrowings 1,900 1,900 1,900 — — Non-maturity deposits (2) 39,072,297 39,072,297 39,072,297 — — Time deposits 70,479 70,347 — 70,347 — 3.50% Senior Notes 346,667 333,648 — 333,648 — 5.375% Senior Notes 347,016 384,216 — 384,216 — 6.05% Subordinated Notes (3) 48,350 49,820 — 49, |
Legal Matters
Legal Matters | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 | |
Related Party Transactions [Abstract] | |
Related Parties | Related Parties During the nine months ended September 30, 2016 , 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. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principles of Consolidation and Presentation | Principles of Consolidation and Presentation Prior to April 1, 2015, the Company’s consolidated financial statements included the accounts of SVB Financial Group and entities in which we had a controlling interest. The determination of whether we had controlling interest was based on consolidation principles prescribed by ASC Topic 810 and whether the controlling interest in an entity was a voting interest entity or a variable interest entity (“VIE”). However, during the three months ended June 30, 2015, we early adopted the provisions of ASU 2015-02, Amendments to the Consolidation Analysis (ASU 2015-02), which simplifies consolidation accounting by reducing the number of consolidation models and changing various aspects of current GAAP, including certain consolidation criteria for variable interest entities. The new guidance eliminates the presumption that a general partner of a limited partnership arrangement should consolidate a limited partnership. The amendments to ASC Topic 810 in ASU 2015-02 modify the evaluation of whether limited partnerships and similar entities are VIEs or voting entities. With these changes, we determined that the majority of our investments in limited partnership arrangements are VIEs under the new guidance while these entities were typically voting interest entities under the prior guidance. ASU 2015-02 provided a single model for evaluating VIE entities for consolidation. VIEs are entities where investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or equity investors, as a group, lack one of the following characteristics: (a) the power to direct the activities that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses of the entity, or (c) the right to receive the expected returns of the entity. We assess VIEs to determine if we are the primary beneficiary of a VIE. A primary beneficiary is defined as a variable interest holder that has a controlling financial interest. A controlling financial interest requires both: (a) power to direct the activities that most significantly impact the VIE’s economic performance, and (b) obligation to absorb losses or receive benefits of a VIE that could potentially be significant to a VIE. Under this analysis, we evaluate kick-out rights and other participating rights which could provide us a controlling financial interest. The primary beneficiary of a VIE is required to consolidate the VIE. ASU 2015-02 also changed how we evaluate fees paid to managers of our limited partnership investments. Under the new guidance, we exclude those fee arrangements that are not deemed to be variable interests from the analysis of our interests in our investments in VIEs and the determination of a primary beneficiary, if any. Our consolidated financial statements include the accounts of SVB Financial Group and consolidated entities. We consolidate voting entities in which we have control through voting interests. We determine whether we have a controlling financial interest in a VIE by determining if we have the power to direct the activities of the VIE that most significantly impact the entity’s economic performance and whether we have significant variable interests. Generally, we have significant variable interests if our commitments to a limited partnership investment represent a significant amount of the total commitments to the entity. We also evaluate the impact of related parties on our determination of variable interests in our consolidation conclusions. We consolidate VIEs in which we are the primary beneficiary based on a controlling financial interest. If we are not the primary beneficiary of a VIE, we record our pro-rata interests or our cost basis in the VIE, as appropriate, based on other accounting guidance within GAAP. All significant intercompany accounts and transactions with consolidated entities have been eliminated. We have not provided financial or other support during the periods presented to any VIE that we were not previously contractually required to provide. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued a new accounting standard update (ASU 2014-09, Revenue from Contracts with Customers (Topic 606)), which provides revenue recognition guidance that is intended to create greater consistency with respect to how and when revenue from contracts with customers is shown in the income statement. This guidance will be effective January 1, 2018, either on a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In January 2016, the FASB issued a new accounting standard update (ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825)), which will significantly change the income statement impact of equity investments, and the recognition of changes in fair value of financial liabilities. This guidance will be effective on January 1, 2018, on a prospective basis with a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In February 2016, the FASB issued a new accounting standard update (ASU 2016-02, Leases (Topic 842)), which will require for all operating leases the recognition of a right-of-use asset and a lease liability, in the statement of financial position. The lease cost will be allocated over the lease term on a straight-line basis. This guidance will be effective on January 1, 2019, on a modified retrospective basis, with early adoption permitted. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-07, Investments—Equity Method and Joint Ventures (Topic 323)), which eliminates the requirement that when an investment qualifies for use of the equity method due to an increase in level of ownership or influence, an investor must adjust the investment, results of operations, and retained earnings retroactively on a step-by step basis as if the equity method had been in effect during all previous periods that the investment had been held. This guidance will be effective January 1, 2017, on a prospective basis, with early adoption permitted. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)), which is intended to improve the operability and understandability of the implementation guidance by clarifying the following: how an entity should identify the unit of accounting for the principal versus agent evaluation; how the control principle applies to transactions, such as service arrangements; reframes the indicators to focus on a principal rather than an agent, removes the credit risk and commission indicators and clarifies the relationship between the control principle and the indicators; and revises the existing illustrative examples and adds new illustrative examples. This guidance will be effective January 1, 2018, either on a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In March 2016, the FASB issued a new accounting standard update (ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718)), which includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. Under the ASU, an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement in the period when the awards vest or are settled. The guidance also permits an entity to make an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. This guidance will be effective January 1, 2017. Early adoption is permitted, but all of the guidance must be adopted in the same period. We plan to adopt the share-based payment guidance in the first quarter of 2017. Currently, we record excess tax benefits and tax deficiencies to APIC at the time of vesting and or settlement, however, upon adoption of this standard, the excess tax benefits and tax deficiencies will be recorded to the income statement as income tax expense or benefit. We do not expect the guidance to have a material impact on our annual earnings; however, the impact will vary period to period depending on the volatility of the Company's stock price and the actual timing of settlement of awards. We would expect the most significant impact to occur during our second quarter as the majority of awards vest during that period. In April 2016, the FASB issued a new accounting standard update (ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing), which amends the new revenue recognition guidance on accounting for licenses of intellectual property and identifying performance obligations. The amendments clarify how an entity should evaluate the nature of its promise in granting a license of intellectual property, which will determine whether it recognizes revenue over time or a point in time. The amendments also clarify when a promised good or service is separately identifiable, that is distinct within the context of the contract, and allow entities to disregard items that are immaterial in the context of a contract. The effective date and transition requirements for this update are the same as those of the new standard. This guidance is effective January 1, 2018, on either a full retrospective approach or a modified retrospective approach, with early adoption permitted, but not before January 1, 2017. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In June 2016, the FASB issued a new accounting standard update (ASU 2016-13, Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments), which amends the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. This guidance will be effective January 1, 2020, on a modified retrospective approach, with early adoption permitted, but not before January 1, 2020. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. In August 2016, the FASB issued a new accounting standard update (ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments), which clarifies the guidance on eight specific cash flow issues. This guidance will be effective January 1, 2018 on a full retrospective approach, with early adoption permitted. We are currently evaluating the impact this guidance will have on our statement of cash flows. |
Reclassifications | Reclassifications Certain prior period amounts have been reclassified to conform to current period presentations. |
Stockholders' Equity and EPS (T
Stockholders' Equity and EPS (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Equity and Earnings Per Share [Abstract] | |
Reclassifications out of AOCI | The following table summarizes the items reclassified out of accumulated other comprehensive income into the Consolidated Statements of Income (unaudited) for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) Income Statement Location 2016 2015 2016 2015 Reclassification adjustment for losses (gains) included in net income Gains on investment securities, net $ 15 $ (13 ) $ (11,567 ) $ (2,750 ) Related tax (benefit) expense Income tax expense (6 ) 6 4,707 1,111 Total reclassification adjustment for losses (gains) included in net income, net of tax $ 9 $ (7 ) $ (6,860 ) $ (1,639 ) |
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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars and shares in thousands, except per share amounts) 2016 2015 2016 2015 Numerator: Net income available to common stockholders $ 111,081 $ 81,733 $ 283,219 $ 256,392 Denominator: Weighted average common shares outstanding-basic 52,046 51,479 51,842 51,254 Weighted average effect of dilutive securities: Stock options and ESPP 233 382 245 411 Restricted stock units 134 187 142 213 Denominator for diluted calculation 52,413 52,048 52,229 51,878 Earnings per common share: Basic $ 2.13 $ 1.59 $ 5.46 $ 5.00 Diluted $ 2.12 $ 1.57 $ 5.42 $ 4.94 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation due to the antidilutive effect for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Shares in thousands) 2016 2015 2016 2015 Stock options 518 142 444 169 Restricted stock units 120 1 9 — Total 638 143 453 169 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share Based Compensation and Related Benefits | For the three and nine months ended September 30, 2016 and 2015 , we recorded share-based compensation and related tax benefits as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Share-based compensation expense $ 7,916 $ 8,188 $ 22,342 $ 24,174 Income tax benefit related to share-based compensation expense (2,881 ) (3,051 ) (7,461 ) (8,381 ) |
Unrecognized Share Based Compensation Expense | As of September 30, 2016 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Average Expected Recognition Period - in Years Stock options $ 11,150 2.52 Restricted stock units 51,094 2.68 Total unrecognized share-based compensation expense $ 62,244 |
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, 2016 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2015 1,137,228 $ 77.12 Granted 177,203 105.11 Exercised (141,248 ) 43.90 Forfeited (19,305 ) 100.80 Expired (190 ) 19.48 Outstanding at September 30, 2016 1,153,688 85.10 3.83 $ 31,649,669 Vested and expected to vest at September 30, 2016 1,123,538 84.47 3.77 31,469,498 Exercisable at September 30, 2016 706,677 72.25 2.81 27,648,800 |
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, 2016 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2015 572,038 $ 103.50 Granted 359,028 100.17 Vested (215,587 ) 87.67 Forfeited (24,508 ) 106.50 Nonvested at September 30, 2016 690,971 106.61 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments In Variable Interest Entities [Abstract] | |
Schedule of Variable Interest Entities | The following table presents the carrying amounts and classification of significant variable interests in consolidated and unconsolidated VIEs as of September 30, 2016 and December 31, 2015 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs September 30, 2016: Assets: Cash and cash equivalents $ 12,870 $ — $ — Non-marketable and other securities (1) 195,956 312,693 312,693 Accrued interest receivable and other assets 333 — — Total assets $ 209,159 $ 312,693 $ 312,693 Liabilities: Accrued expenses and other liabilities (1) 909 52,846 — Total liabilities $ 909 $ 52,846 $ — December 31, 2015: Assets: Cash and cash equivalents $ 11,811 $ — $ — Non-marketable and other securities (1) 203,714 364,450 364,450 Accrued interest receivable and other assets 494 — — Total assets $ 216,019 $ 364,450 $ 364,450 Liabilities: Accrued expenses and other liabilities (1) 433 90,978 — Total liabilities $ 433 $ 90,978 $ — (1) Included in our unconsolidated non-marketable and other securities portfolio at September 30, 2016 and December 31, 2015 are investments in qualified affordable housing projects of $106.5 million and $154.4 million , respectively and related unfunded commitments of $52.8 million and $91.0 million , respectively. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | The following table details our cash and cash equivalents at September 30, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Cash and due from banks (1) $ 2,352,469 $ 1,372,743 Securities purchased under agreements to resell (2) 163,719 125,391 Other short-term investment securities 5,131 5,123 Total cash and cash equivalents $ 2,521,319 $ 1,503,257 (1) At September 30, 2016 and December 31, 2015 , $1.3 billion and $405 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 $724 million and $500 million , respectively. (2) At September 30, 2016 and December 31, 2015 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $167 million an d $128 million , respectively. None of these securities received as collateral were sold or pledged as of September 30, 2016 or December 31, 2015 . |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Major Components of Investment Securities Portfolio | The components of our available-for-sale investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: September 30, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,828,906 $ 110,721 $ — $ 8,939,627 U.S. agency debentures 2,089,590 36,982 — 2,126,572 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,089,956 4,896 (2,563 ) 1,092,289 Agency-issued collateralized mortgage obligations—variable rate 504,134 839 (486 ) 504,487 Equity securities 2,307 637 (222 ) 2,722 Total available-for-sale securities $ 12,514,893 $ 154,075 $ (3,271 ) $ 12,665,697 December 31, 2015 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 11,679,450 $ 19,134 $ (20,549 ) $ 11,678,035 U.S. agency debentures 2,677,453 17,684 (5,108 ) 2,690,029 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,408,206 6,591 (15,518 ) 1,399,279 Agency-issued collateralized mortgage obligations—variable rate 604,236 3,709 (9 ) 607,936 Equity securities 6,596 460 (1,587 ) 5,469 Total available-for-sale securities $ 16,375,941 $ 47,578 $ (42,771 ) $ 16,380,748 |
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, 2016 : September 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Available-for-sale securities: Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate $ 310,991 $ (469 ) $ 247,100 $ (2,094 ) $ 558,091 $ (2,563 ) Agency-issued collateralized mortgage obligations—variable rate 221,818 (486 ) — — 221,818 (486 ) Equity securities 932 (222 ) — — 932 (222 ) Total temporarily impaired securities: (1) $ 533,741 $ (1,177 ) $ 247,100 $ (2,094 ) $ 780,841 $ (3,271 ) (1) As of September 30, 2016 , we identified a total of 103 investments that were in unrealized loss positions, of which 14 investments totaling $247.1 million with unrealized losses of $2.1 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2016 , we do not intend to sell any impaired fixed income investment 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, 2016 , 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, 2015 : December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Available-for-sale securities: U.S. Treasury securities $ 7,467,519 $ (20,549 ) $ — $ — $ 7,467,519 $ (20,549 ) U.S. agency debentures 760,071 (5,108 ) — — 760,071 (5,108 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 545,404 (4,681 ) 373,284 (10,837 ) 918,688 (15,518 ) Agency-issued collateralized mortgage obligations—variable rate 7,776 (9 ) — — 7,776 (9 ) Equity securities 2,955 (1,587 ) — — 2,955 (1,587 ) Total temporarily impaired securities (1): $ 8,783,725 $ (31,934 ) $ 373,284 $ (10,837 ) $ 9,157,009 $ (42,771 ) (1) As of December 31, 2015, we identified a total of 243 investments that were in unrealized loss positions, of which 18 investments totaling $373.3 million with unrealized losses of $10.8 million have been in an impaired position for a period of time greater than 12 months. |
Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Securities | The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as available-for-sale as of September 30, 2016 . The weighted average yield is computed using the amortized cost of fixed income investment securities, which are reported at fair value. For U.S. Treasury securities and U.S. agency debentures, the expected maturity is the actual contractual maturity of the notes. 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 and prepayments in lower rate environments. The weighted average yield on mortgage-backed securities is based on prepayment assumptions at the purchase date. Actual yields earned may differ significantly based upon actual prepayments. September 30, 2016 Total One Year or Less After One Year to Five Years After Five Years to Ten Years After Ten Years (Dollars in thousands) Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield Carrying Value Weighted- Average Yield U.S. Treasury securities $ 8,939,627 1.31 % $ 1,652,444 0.80 % $ 7,287,183 1.43 % $ — — % $ — — % U.S. agency debentures 2,126,572 1.60 426,210 1.17 1,700,362 1.71 — — — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate 1,092,289 1.91 — — — — 755,958 2.09 336,331 1.52 Agency-issued collateralized mortgage obligations - variable rate 504,487 0.71 — — — — — — 504,487 0.71 Total $ 12,662,975 1.39 $ 2,078,654 0.88 $ 8,987,545 1.48 $ 755,958 2.09 $ 840,818 1.03 The following table summarizes the remaining contractual principal maturities and fully taxable equivalent yields on fixed income investment securities classified as held-to-maturity as of September 30, 2016 . 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 percent . The weighted average yield is computed using the amortized cost of fixed income investment securities. For U.S. agency debentures, the expected maturity is the actual contractual maturity of the notes. 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 held-to-maturity 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 and prepayments in lower rate environments. The weighted average yield on mortgage-backed securities is based on prepayment assumptions at the purchase date. Actual yields earned may differ significantly based upon actual prepayments. September 30, 2016 Total One Year or Less After One Year to Five Years After Five Years to Ten Years After Ten Years (Dollars in thousands) Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield Amortized Cost Weighted- Average Yield U.S. agency debentures $ 622,692 2.43 % $ — — % $ 47,478 3.25 % $ 575,214 2.36 % $ — — % Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,092,082 2.38 — — 257,766 2.58 216,197 1.74 1,618,119 2.44 Agency-issued collateralized mortgage obligations - fixed rate 3,593,453 1.73 — — — — 22,233 1.75 3,571,220 1.73 Agency-issued collateralized mortgage obligations - variable rate 327,673 0.74 — — — — — — 327,673 0.74 Agency-issued commercial mortgage-backed securities 1,101,234 2.13 — — — — — — 1,101,234 2.13 Municipal bonds and notes 54,815 6.07 4,076 5.76 23,925 6.02 24,204 6.13 2,610 6.46 Total $ 7,791,949 2.01 $ 4,076 5.76 $ 329,169 2.93 $ 837,848 2.29 $ 6,620,856 1.92 |
Held-to-maturity Securities | The components of our held-to-maturity investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: September 30, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 622,692 $ 17,642 $ — $ 640,334 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,092,082 37,993 (309 ) 2,129,766 Agency-issued collateralized mortgage obligations—fixed rate 3,593,453 28,800 (1,962 ) 3,620,291 Agency-issued collateralized mortgage obligations—variable rate 327,673 188 (580 ) 327,281 Agency-issued commercial mortgage-backed securities 1,101,234 12,837 (311 ) 1,113,760 Municipal bonds and notes 54,815 121 (1,035 ) 53,901 Total held-to-maturity securities $ 7,791,949 $ 97,581 $ (4,197 ) $ 7,885,333 (1) Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States. December 31, 2015 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 545,473 $ 8,876 $ — $ 554,349 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,366,627 546 (11,698 ) 2,355,475 Agency-issued collateralized mortgage obligations—fixed rate 4,225,781 3,054 (32,999 ) 4,195,836 Agency-issued collateralized mortgage obligations—variable rate 370,779 758 (33 ) 371,504 Agency-issued commercial mortgage-backed securities 1,214,716 3,405 (3,475 ) 1,214,646 Municipal bonds and notes 67,587 55 (830 ) 66,812 Total held-to-maturity securities $ 8,790,963 $ 16,694 $ (49,035 ) $ 8,758,622 (1) Consists of pools of Small Business Investment Company debentures issued and guaranteed by the U.S. Small Business Administration, an independent agency of the United States. The following table summarizes our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of September 30, 2016 : September 30, 2016 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Fair Value of Investments Unrealized Losses Held-to-maturity securities: Residential mortgage-backed securities: Agency-issued mortgage-backed securities $ 8,249 $ (53 ) $ 23,238 $ (256 ) $ 31,487 $ (309 ) Agency-issued collateralized mortgage obligations—fixed rate 77,313 (136 ) 247,706 (1,826 ) 325,019 (1,962 ) Agency-issued collateralized mortgage obligations—variable rate 207,339 (580 ) — — 207,339 (580 ) Agency-issued commercial mortgage-backed securities 112,586 (157 ) 19,272 (154 ) 131,858 (311 ) Municipal bonds and notes 14,577 (131 ) 32,995 (904 ) 47,572 (1,035 ) Total temporarily impaired securities (1): $ 420,064 $ (1,057 ) $ 323,211 $ (3,140 ) $ 743,275 $ (4,197 ) (1) As of September 30, 2016 , we identified a total of 140 investments that were in unrealized loss positions, of which 78 investments totaling $323.2 million with unrealized losses of $3.1 million have been in an impaired position for a period of time greater than 12 months. As of September 30, 2016 , we do not intend to sell any impaired fixed income investment 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, which is consistent with our classification of these securities. Based on our analysis as of September 30, 2016 , we deem all impairments to be temporary. Market valuations and impairment analyses on assets in the held-to-maturity securities portfolio are reviewed and monitored on a quarterly basis. The following table summarizes our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of December 31, 2015 : December 31, 2015 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Value of Unrealized Fair Value of Unrealized Fair Value of Unrealized Held-to-maturity securities: Residential mortgage-backed securities: Agency-issued mortgage-backed securities $ 2,121,258 $ (10,860 ) $ 22,507 $ (838 ) $ 2,143,765 $ (11,698 ) Agency-issued collateralized mortgage obligations—fixed rate 3,153,483 (30,230 ) 150,058 (2,769 ) 3,303,541 (32,999 ) Agency-issued collateralized mortgage obligations—variable rate 170,350 (33 ) — — 170,350 (33 ) Agency-issued commercial mortgage-backed securities 823,414 (2,994 ) 40,276 (481 ) 863,690 (3,475 ) Municipal bonds and notes 34,278 (274 ) 25,509 (556 ) 59,787 (830 ) Total temporarily impaired securities (1): $ 6,302,783 $ (44,391 ) $ 238,350 $ (4,644 ) $ 6,541,133 $ (49,035 ) (1) As of December 31, 2015, we identified a total of 384 investments that were in unrealized loss positions, of which 58 investments totaling $238.4 million with unrealized losses of $4.6 million have been in an impaired position for a period of time greater than 12 months. |
Schedule of Nonmarketable and Other Securities | The components of our non-marketable and other investment securities portfolio at September 30, 2016 and December 31, 2015 are as follows: (Dollars in thousands) September 30, 2016 December 31, 2015 Non-marketable and other securities: Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 141,841 $ 152,237 Other venture capital investments (2) 2,040 2,040 Other securities (fair value accounting) (3) 579 548 Non-marketable securities (equity method accounting) (4): Venture capital and private equity fund investments 84,904 85,705 Debt funds 18,971 21,970 Other investments 128,422 118,532 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (5) 115,113 120,676 Other investments 26,834 18,882 Investments in qualified affordable housing projects, net (6) 106,474 154,356 Total non-marketable and other securities $ 625,178 $ 674,946 (1) The following table shows the amounts of venture capital and private equity fund investments held by the following funds and our ownership percentage of each fund at September 30, 2016 and December 31, 2015 (fair value accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % SVB Strategic Investors Fund, LP $ 17,940 12.6 % $ 20,794 12.6 % SVB Capital Preferred Return Fund, LP 57,488 20.0 60,619 20.0 SVB Capital—NT Growth Partners, LP 59,692 33.0 62,983 33.0 Other private equity fund (i) 6,721 58.2 7,841 58.2 Total venture capital and private equity fund investments $ 141,841 $ 152,237 (i) At September 30, 2016 , we had a direct ownership interest of 41.5 percent in the other private equity fund and an indirect ownership interest of 12.6 percent through our ownership interest of SVB Capital—NT Growth Partners, LP and an indirect ownership interest of 4.1 percent through our ownership interest of SVB Capital Preferred Return Fund, LP. (2) The following table shows the amounts of other venture capital investments held by the following fund and our ownership percentage at September 30, 2016 and December 31, 2015 (fair value accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % Silicon Valley BancVentures, LP $ 2,040 10.7 % $ 2,040 10.7 % Total other venture capital investments $ 2,040 $ 2,040 (3) Investments classified as other securities (fair value accounting) represent 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, 2016 and December 31, 2015 (equity method accounting): September 30, 2016 December 31, 2015 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: SVB Strategic Investors Fund II, LP $ 9,133 8.6 % $ 10,035 8.6 % SVB Strategic Investors Fund III, LP 21,369 5.9 23,926 5.9 SVB Strategic Investors Fund IV, LP 25,737 5.0 26,411 5.0 Strategic Investors Fund V funds 11,715 Various 10,470 Various Other venture capital and private equity fund investments 16,950 Various 14,863 Various Total venture capital and private equity fund investments $ 84,904 $ 85,705 Debt funds: Gold Hill Capital 2008, LP (i) $ 15,496 15.5 % $ 17,453 15.5 % Other debt funds 3,475 Various 4,517 Various Total debt funds $ 18,971 $ 21,970 Other investments: China Joint Venture investment $ 77,817 50.0 % $ 78,799 50.0 % Other investments 50,605 Various 39,733 Various Total other investments $ 128,422 $ 118,532 (i) At September 30, 2016 , 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 255 and 267 funds (primarily venture capital funds) at September 30, 2016 and December 31, 2015 , 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. The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $115 million and $218 million , respectively, as of September 30, 2016 . The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $121 million and $233 million , respectively, as of December 31, 2015 . (6) The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments at September 30, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Investments in qualified affordable housing projects, net $ 106,474 $ 154,356 Accrued expenses and other liabilities 52,846 90,978 The following table presents other information relating to our investments in qualified affordable housing projects for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Tax credits and other tax benefits recognized $ 3,995 $ 4,780 $ 12,127 $ 11,207 Amortization expense included in provision for income taxes (i) 2,556 2,011 9,746 7,549 (i) All investments are amortized using the proportional amortization method and amortization expense is included in the provision for income taxes. |
Schedule Of Investments In Qualified Affordable Housing Projects And Related Unfunded Commitments | The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments at September 30, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Investments in qualified affordable housing projects, net $ 106,474 $ 154,356 Accrued expenses and other liabilities 52,846 90,978 The following table presents other information relating to our investments in qualified affordable housing projects for the three and nine months ended September 30, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Tax credits and other tax benefits recognized $ 3,995 $ 4,780 $ 12,127 $ 11,207 Amortization expense included in provision for income taxes (i) 2,556 2,011 9,746 7,549 (i) All investments are amortized using the proportional amortization method and amortization expense is included in the provision for income taxes. |
Gain Loss 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Gross gains on investment securities: Available-for-sale securities, at fair value (1) $ 84 $ 46 $ 14,238 $ 2,971 Non-marketable securities (fair value accounting): Venture capital and private equity fund investments 6,030 6,746 16,377 24,767 Other venture capital investments 4 15 17 198 Other securities (fair value accounting) 271 40 639 9,108 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 5,679 6,655 9,351 19,378 Debt funds 295 379 1,259 2,067 Other investments 7,487 2,282 11,528 5,009 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments 6,328 5,624 14,180 21,101 Other investments 150 — 163 576 Total gross gains on investment securities 26,328 21,787 67,752 85,175 Gross losses on investment securities: Available-for-sale securities, at fair value (1) (99 ) (33 ) (2,671 ) (221 ) Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (2,122 ) (1,148 ) (15,958 ) (2,695 ) Other venture capital investments — — (38 ) (52 ) Other securities (fair value accounting) (100 ) (325 ) (507 ) (1,117 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (444 ) (472 ) (4,465 ) (909 ) Debt funds (129 ) (1 ) (458 ) (589 ) Other investments (205 ) (902 ) (1,161 ) (2,042 ) Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) (51 ) (132 ) (492 ) (530 ) Other investments — (6 ) (238 ) (14 ) Total gross losses on investment securities (3,150 ) (3,019 ) (25,988 ) (8,169 ) Gains on investment securities, net $ 23,178 $ 18,768 $ 41,764 $ 77,006 (1) Includes realized gains (losses) on sales of available-for-sale equity securities that are recognized in the income statement. Unrealized gains (losses) on available-for-sale fixed income and equity securities are recognized in other comprehensive income. The cost basis of available-for-sale securities sold is determined on a specific identification basis. (2) For the three months ended September 30, 2016 and 2015 , includes OTTI losses of $0.1 million from the declines in value for 5 of the 255 investments and $0.1 million from the declines in value for 4 of the 270 investments, respectively. For the nine months ended September 30, 2016 and 2015 , includes OTTI losses of $0.5 million from the declines in value for 21 of the 255 investments and $0.4 million from the declines in value for 19 of the 270 investments, respectively. We concluded that any declines in value for the remaining investments were temporary, and as such, no OTTI was required to be recognized. |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | The composition of loans, net of unearned income of $117 million and $115 million at September 30, 2016 and December 31, 2015 , respectively, is presented in the following table: (Dollars in thousands) September 30, 2016 December 31, 2015 Commercial loans: Software and internet $ 5,393,425 $ 5,437,915 Hardware 1,147,830 1,071,528 Private equity/venture capital 7,412,238 5,467,577 Life science/healthcare 1,732,917 1,710,642 Premium wine 190,223 201,175 Other 368,474 312,278 Total commercial loans 16,245,107 14,201,115 Real estate secured loans: Premium wine (1) 681,808 646,120 Consumer loans (2) 1,835,630 1,544,440 Other 43,925 44,830 Total real estate secured loans 2,561,363 2,235,390 Construction loans 64,689 78,682 Consumer loans 241,106 226,883 Total loans, net of unearned income (3) $ 19,112,265 $ 16,742,070 (1) Included in our premium wine portfolio are gross construction loans of $109 million and $121 million at September 30, 2016 and December 31, 2015 , respectively. (2) Consumer loans secured by real estate at September 30, 2016 and December 31, 2015 were comprised of the following: (Dollars in thousands) September 30, 2016 December 31, 2015 Loans for personal residence $ 1,563,697 $ 1,312,818 Loans to eligible employees 189,593 156,001 Home equity lines of credit 82,340 75,621 Consumer loans secured by real estate $ 1,835,630 $ 1,544,440 (3) Included within our total loan portfolio are credit card loans of $201 million and $177 million at September 30, 2016 and December 31, 2015 , 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 $117 million and $115 million at September 30, 2016 and December 31, 2015 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) September 30, 2016 December 31, 2015 Commercial loans: Software and internet $ 5,393,425 $ 5,437,915 Hardware 1,147,830 1,071,528 Private equity/venture capital 7,412,238 5,467,577 Life science/healthcare 1,732,917 1,710,642 Premium wine 872,031 847,295 Other 477,088 435,790 Total commercial loans 17,035,529 14,970,747 Consumer loans: Real estate secured loans 1,835,630 1,544,440 Other consumer loans 241,106 226,883 Total consumer loans 2,076,736 1,771,323 Total loans, net of unearned income $ 19,112,265 $ 16,742,070 |
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, 2016 and December 31, 2015 : (Dollars in thousands) 30 - 59 Days Past Due 60 - 89 Days Past Due Greater Than 90 Days Past Due Total Past Due Current Loans Past Due 90 Days or More Still Accruing Interest September 30, 2016: Commercial loans: Software and internet $ 11,975 $ 2,715 $ 59 $ 14,749 $ 5,359,727 $ 59 Hardware 4,909 6,577 — 11,486 1,095,263 — Private equity/venture capital 18 4 51 73 7,465,573 51 Life science/healthcare 856 143 — 999 1,690,070 — Premium wine 12,265 — — 12,265 860,353 — Other 93 3 15 111 479,754 15 Total commercial loans 30,116 9,442 125 39,683 16,950,740 125 Consumer loans: Real estate secured loans 961 — — 961 1,831,891 — Other consumer loans 285 — — 285 238,221 — Total consumer loans 1,246 — — 1,246 2,070,112 — Total gross loans excluding impaired loans 31,362 9,442 125 40,929 19,020,852 125 Impaired loans — 2,587 6,918 9,505 157,642 — Total gross loans $ 31,362 $ 12,029 $ 7,043 $ 50,434 $ 19,178,494 $ 125 December 31, 2015: Commercial loans: Software and internet $ 3,384 $ 6,638 $ — $ 10,022 $ 5,371,222 $ — Hardware 1,061 66 — 1,127 1,051,368 — Private equity/venture capital — 17 — 17 5,511,912 — Life science/healthcare 853 6,537 — 7,390 1,665,801 — Premium wine 16 65 — 81 847,249 — Other 14 22 — 36 438,313 — Total commercial loans 5,328 13,345 — 18,673 14,885,865 — Consumer loans: Real estate secured loans 4,911 865 — 5,776 1,537,421 — Other consumer loans 228 115 — 343 226,369 — Total consumer loans 5,139 980 — 6,119 1,763,790 — Total gross loans excluding impaired loans 10,467 14,325 — 24,792 16,649,655 — Impaired loans 333 — 7,221 7,554 175,130 — Total gross loans $ 10,800 $ 14,325 $ 7,221 $ 32,346 $ 16,824,785 $ — |
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, 2016 and December 31, 2015 : (Dollars in thousands) Impaired loans for which there is a related allowance for loan losses Impaired loans for which there is no related allowance for loan losses Total carrying value of impaired loans Total unpaid principal of impaired loans September 30, 2016: Commercial loans: Software and internet $ 57,831 $ — $ 57,831 $ 76,679 Hardware 48,687 669 49,356 49,393 Private equity/venture capital — — — — Life science/healthcare 54,341 — 54,341 57,222 Premium wine 1,285 — 1,285 1,285 Other 417 — 417 417 Total commercial loans 162,561 669 163,230 184,996 Consumer loans: Real estate secured loans 1,518 — 1,518 2,789 Other consumer loans 2,399 — 2,399 2,399 Total consumer loans 3,917 — 3,917 5,188 Total $ 166,478 $ 669 $ 167,147 $ 190,184 December 31, 2015: Commercial loans: Software and internet $ 100,866 $ — $ 100,866 $ 125,494 Hardware 27,736 — 27,736 27,869 Private equity/venture capital — — — — Life science/healthcare 50,429 925 51,354 55,310 Premium wine 898 1,167 2,065 2,604 Other 520 — 520 520 Total commercial loans 180,449 2,092 182,541 211,797 Consumer loans: Real estate secured loans 143 — 143 1,393 Other consumer loans — — — — Total consumer loans 143 — 143 1,393 Total $ 180,592 $ 2,092 $ 182,684 $ 213,190 |
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, 2016 and 2015 : Three months ended September 30, Average impaired loans Interest income on impaired loans (dollars in thousands) 2016 2015 2016 2015 (1) Commercial loans: Software and internet $ 61,481 $ 77,156 $ 70 $ — Hardware 45,353 2,796 761 — Life science/healthcare 55,558 17,184 128 — Premium wine 1,291 1,213 19 — Other 3,768 3,132 6 — Total commercial loans 167,451 101,481 984 — Consumer loans: Real estate secured loans 584 162 — — Other consumer loans 1,324 — 6 — Total consumer loans 1,908 162 6 — Total average impaired loans $ 169,359 $ 101,643 $ 990 $ — (1) For the three months ended September 30, 2015 all impaired loans were nonaccrual loans and no interest income was recognized. Nine months ended September 30, Average impaired loans Interest income on impaired loans (dollars in thousands) 2016 2015 2016 2015 (1) Commercial loans: Software and internet $ 84,005 $ 54,543 $ 133 $ — Hardware 31,000 1,944 1,467 — Life science/healthcare 42,857 6,526 128 — Premium wine 1,834 1,245 54 — Other 4,369 3,498 21 — Total commercial loans 164,065 67,756 1,803 — Consumer loans: Real estate secured loans 282 180 — — Other consumer loans 715 55 17 — Total consumer loans 997 235 17 — Total average impaired loans $ 165,062 $ 67,991 $ 1,820 $ — (1) For the nine months ended September 30, 2015 all impaired loans were nonaccrual loans and no interest income was recognized. |
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, 2016 and 2015 , broken out by portfolio segment: Three months ended September 30, 2016 (dollars in thousands) Beginning Balance June 30, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance September 30, 2016 Commercial loans: Software and internet $ 104,229 $ (16,526 ) $ 305 $ 8,591 $ (261 ) $ 96,338 Hardware 23,871 (3,058 ) 1,080 11,048 (336 ) 32,605 Private equity/venture capital 49,807 — — 2,203 (67 ) 51,943 Life science/healthcare 41,852 (28 ) 361 (5,298 ) 161 37,048 Premium wine 4,810 — — 288 (9 ) 5,089 Other 9,480 (5,004 ) 207 142 (4 ) 4,821 Total commercial loans 234,049 (24,616 ) 1,953 16,974 (516 ) 227,844 Consumer loans 10,674 — 131 1,976 (60 ) 12,721 Total allowance for loan losses $ 244,723 $ (24,616 ) $ 2,084 $ 18,950 $ (576 ) $ 240,565 Three months ended September 30, 2015 (dollars in thousands) Beginning Balance June 30, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance September 30, 2015 Commercial loans: Software and internet $ 106,728 $ (24,815 ) $ 195 $ 5,965 $ (7 ) $ 88,066 Hardware 20,472 — 240 (70 ) — 20,642 Private equity/venture capital 29,276 — — 3,170 (4 ) 32,442 Life science/healthcare 17,233 (117 ) 50 19,815 (22 ) 36,959 Premium wine 4,409 — — 253 — 4,662 Other 5,894 (4,186 ) 173 2,941 (49 ) 4,773 Total commercial loans 184,012 (29,118 ) 658 32,074 (82 ) 187,544 Consumer loans 8,632 — 4 1,329 (2 ) 9,963 Total allowance for loan losses $ 192,644 $ (29,118 ) $ 662 $ 33,403 $ (84 ) $ 197,507 (1) Reflects foreign currency translation adjustments within the allowance for loan losses. Prior period amounts were previously reported with loan recoveries and have been revised to conform to current period presentation. Nine months ended September 30, 2016 (dollars in thousands) Beginning Balance December 31, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance September 30, 2016 Commercial loans: Software and internet $ 103,045 $ (56,742 ) $ 4,525 $ 46,438 $ (928 ) $ 96,338 Hardware 23,085 (6,559 ) 1,502 15,010 (433 ) 32,605 Private equity/venture capital 35,282 — — 17,008 (347 ) 51,943 Life science/healthcare 36,576 (3,029 ) 1,037 3,252 (788 ) 37,048 Premium wine 5,205 — — (138 ) 22 5,089 Other 4,252 (5,034 ) 880 4,573 150 4,821 Total commercial loans 207,445 (71,364 ) 7,944 86,143 (2,324 ) 227,844 Consumer loans 10,168 (102 ) 214 2,481 (40 ) 12,721 Total allowance for loan losses $ 217,613 $ (71,466 ) $ 8,158 $ 88,624 $ (2,364 ) $ 240,565 Nine months ended September 30, 2015 (dollars in thousands) Beginning Balance December 31, 2014 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance September 30, 2015 Commercial loans: Software and internet $ 80,981 $ (26,980 ) $ 1,239 $ 32,834 $ (8 ) $ 88,066 Hardware 25,860 (4,049 ) 3,049 (4,291 ) 73 20,642 Private equity/venture capital 27,997 — — 4,551 (106 ) 32,442 Life science/healthcare 15,208 (3,336 ) 129 24,976 (18 ) 36,959 Premium wine 4,473 — 7 182 — 4,662 Other 3,253 (4,974 ) 729 5,874 (109 ) 4,773 Total commercial loans 157,772 (39,339 ) 5,153 64,126 (168 ) 187,544 Consumer loans 7,587 — 136 2,242 (2 ) 9,963 Total allowance for loan losses $ 165,359 $ (39,339 ) $ 5,289 $ 66,368 $ (170 ) $ 197,507 (1) Reflects foreign currency translation adjustments within the allowance for loan losses. Prior period amounts were previously reported with loan recoveries and have been revised to conform to current period presentation. |
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, 2016 and December 31, 2015 , broken out by portfolio segment: September 30, 2016 December 31, 2015 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment (Dollars in thousands) Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Allowance for loan losses Recorded investment in loans Commercial loans: Software and internet $ 24,815 $ 57,831 $ 71,523 $ 5,335,594 $ 34,098 $ 100,866 $ 68,947 $ 5,337,049 Hardware 6,041 49,356 26,564 1,098,474 3,160 27,736 19,925 1,043,792 Private equity/venture capital — — 51,943 7,412,238 — — 35,282 5,467,577 Life science/healthcare 18,206 54,341 18,842 1,678,576 20,230 51,354 16,346 1,659,288 Premium wine 128 1,285 4,961 870,746 90 2,065 5,115 845,230 Other 42 417 4,779 476,671 52 520 4,200 435,270 Total commercial loans 49,232 163,230 178,612 16,872,299 57,630 182,541 149,815 14,788,206 Consumer loans 1,141 3,917 11,580 2,072,819 143 143 10,025 1,771,180 Total $ 50,373 $ 167,147 $ 190,192 $ 18,945,118 $ 57,773 $ 182,684 $ 159,840 $ 16,559,386 |
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, 2016 and December 31, 2015 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total September 30, 2016: Commercial loans: Software and internet $ 4,752,376 $ 622,100 $ 5,012 $ 52,819 $ 5,432,307 Hardware 937,383 169,366 46,849 2,507 1,156,105 Private equity/venture capital 7,465,003 643 — — 7,465,646 Life science/healthcare 1,549,334 141,735 6,581 47,760 1,745,410 Premium wine 855,731 16,887 1,285 — 873,903 Other 471,320 8,545 417 — 480,282 Total commercial loans 16,031,147 959,276 60,144 103,086 17,153,653 Consumer loans: Real estate secured loans 1,831,054 1,798 — 1,518 1,834,370 Other consumer loans 238,506 — 787 1,612 240,905 Total consumer loans 2,069,560 1,798 787 3,130 2,075,275 Total gross loans $ 18,100,707 $ 961,074 $ 60,931 $ 106,216 $ 19,228,928 December 31, 2015: Commercial loans: Software and internet $ 4,933,179 $ 448,065 $ 23,321 $ 77,545 $ 5,482,110 Hardware 955,675 96,820 27,306 430 1,080,231 Private equity/venture capital 5,474,929 37,000 — — 5,511,929 Life science/healthcare 1,544,555 128,636 7,247 44,107 1,724,545 Premium wine 825,058 22,272 898 1,167 849,395 Other 429,481 8,868 520 — 438,869 Total commercial loans 14,162,877 741,661 59,292 123,249 15,087,079 Consumer loans: Real estate secured loans 1,539,468 3,729 — 143 1,543,340 Other consumer loans 224,601 2,111 — — 226,712 Total consumer loans 1,764,069 5,840 — 143 1,770,052 Total gross loans $ 15,926,946 $ 747,501 $ 59,292 $ 123,392 $ 16,857,131 |
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, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Loans modified in TDRs: Commercial loans: Software and internet $ 36,517 $ 56,790 Hardware 10,333 473 Life science/healthcare 25,029 51,878 Premium wine 2,962 2,065 Other 417 519 Total commercial loans 75,258 111,725 Consumer loans: Other consumer loans 786 — Total consumer loans 786 — Total $ 76,044 $ 111,725 |
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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Loans modified in TDRs during the period: Commercial loans: Software and internet $ 78 $ 51,749 $ 4,569 $ 57,766 Hardware 10,329 — 10,329 2,031 Life science/healthcare 1,714 29,530 1,714 29,530 Premium wine — — 495 — Other — 518 — 518 Total commercial loans 12,121 81,797 17,107 89,845 Consumer loans: Other consumer loans — — 786 — Total loans modified in TDRs during the period (1) $ 12,121 $ 81,797 $ 17,893 $ 89,845 (1) There were $0.7 million and $3.5 million of partial charge-offs during the three and nine months ended September 30, 2016 and $22.4 million of partial charge-offs for loans classified as TDRs in our software and internet loan portfolio during the three and nine months ended September 30, 2015 . |
Troubled Debt Restructurings On Financing Receivables Subsequently Defaulted Table | 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, 2016 and 2015 : Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Software and internet $ — $ 11,107 $ 584 $ 17,124 Hardware — 2,031 — 2,031 Life science/healthcare — 958 — 958 Premium wine 790 — 790 — Total TDRs modified within the previous 12 months that defaulted in the period $ 790 $ 14,096 $ 1,374 $ 20,113 |
Short-Term Borrowings and Lon32
Short-Term Borrowings and Long-Term Debt (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 : Carrying Value (Dollars in thousands) Maturity Principal value at September 30, 2016 September 30, December 31, Short-term borrowings: Short-term FHLB advances $ — $ — $ 638,000 Federal funds purchased — — 135,000 Other short-term borrowings (1) 2,421 2,421 1,900 Total short-term borrowings $ 2,421 $ 774,900 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 346,900 $ 346,667 5.375% Senior Notes September 15, 2020 350,000 347,440 347,016 6.05% Subordinated Notes (2) June 1, 2017 45,964 47,094 48,350 7.0% Junior Subordinated Debentures October 15, 2033 50,000 54,537 54,669 Total long-term debt $ 795,971 $ 796,702 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor. (2) At September 30, 2016 and December 31, 2015 , included in the carrying value of our 6.05% Subordinated Notes was an interest rate swap valued at $1.3 million and $2.8 million , respectively, related to hedge accounting associated with the notes |
Derivative Financial Instrume33
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 were as follows: September 30, 2016 December 31, 2015 (Dollars in thousands) Balance Sheet Location Notional or Contractual Amount Fair Value Collateral (1) Net Exposure (2) Notional or Contractual Amount Fair Value Collateral (1) Net Exposure (2) Derivatives designated as hedging instruments: Interest rate risks: Interest rate swaps Other assets $ 45,964 $ 1,324 $ — $ 1,324 $ 45,964 $ 2,768 $ — $ 2,768 Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards Other assets 138,796 1,676 — 1,676 49,287 809 — 809 Foreign exchange forwards Other liabilities 53,051 (576 ) — (576 ) 6,586 (669 ) — (669 ) Net exposure 1,100 — 1,100 140 — 140 Other derivative instruments: Equity warrant assets Other assets 212,802 145,340 — 145,340 210,102 137,105 — 137,105 Other derivatives: Client foreign exchange forwards Other assets 1,056,821 44,636 2,421 42,215 935,514 29,722 1,900 27,822 Client foreign exchange forwards Other liabilities 869,914 (36,188 ) — (36,188 ) 841,182 (24,978 ) — (24,978 ) Client foreign currency options Other assets 243,860 2,750 — 2,750 46,625 706 — 706 Client foreign currency options Other liabilities 243,860 (2,750 ) — (2,750 ) 46,625 (706 ) — (706 ) Client interest rate derivatives Other assets 520,081 8,759 — 8,759 422,741 3,973 — 3,973 Client interest rate derivatives Other liabilities 558,962 (9,324 ) — (9,324 ) 422,741 (4,384 ) — (4,384 ) Net exposure 7,883 2,421 5,462 4,333 1,900 2,433 Net $ 155,647 $ 2,421 $ 153,226 $ 144,346 $ 1,900 $ 142,446 (1) Cash collateral received from our counterparties in relation to market value exposures of derivative contracts in our favor 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, 2016 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, 2016 . |
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, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) Statement of income location 2016 2015 2016 2015 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ 580 $ 631 $ 1,778 $ 1,903 Changes in fair value of interest rate swaps Gains on derivative instruments, net (3 ) (8 ) (33 ) (22 ) Net gains associated with interest rate risk derivatives $ 577 $ 623 $ 1,745 $ 1,881 Derivatives not designated as hedging instruments: Currency exchange risks: (Losses) gains on revaluations of internal foreign currency instruments, net Other noninterest income $ (1,406 ) $ 186 $ (4,222 ) $ (11,667 ) Gains (losses) on internal foreign exchange forward contracts, net Gains on derivative instruments, net 1,352 (218 ) 3,067 11,626 Net losses associated with internal currency risk $ (54 ) $ (32 ) $ (1,155 ) $ (41 ) Other derivative instruments: Gains (losses) on revaluations of client foreign currency instruments, net Other noninterest income $ 3,488 2 $ 7,009 (177 ) (Losses) gains on client foreign exchange forward contracts, net Gains on derivative instruments, net (3,194 ) 179 (8,780 ) 459 Net gains (losses) associated with client currency risk $ 294 $ 181 $ (1,771 ) $ 282 Net gains on equity warrant assets Gains on derivative instruments, net $ 21,558 $ 10,685 $ 33,252 $ 54,579 Net gains (losses) on other derivatives Gains on derivative instruments, net $ 31 $ (394 ) $ (659 ) $ (352 ) |
Offsetting Assets | The following table summarizes our assets subject to enforceable master netting arrangements as of September 30, 2016 and December 31, 2015 : 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 September 30, 2016 Derivative Assets: Interest rate swaps $ 1,324 $ — $ 1,324 $ (1,324 ) $ — $ — Foreign exchange forwards 46,312 — 46,312 (19,377 ) (2,421 ) 24,514 Foreign currency options 2,750 — 2,750 (1,246 ) — 1,504 Client interest rate derivatives 8,759 — 8,759 (8,719 ) — 40 Total derivative assets: 59,145 — 59,145 (30,666 ) (2,421 ) 26,058 Reverse repurchase, securities borrowing, and similar arrangements 163,719 — 163,719 (163,719 ) — — Total $ 222,864 $ — $ 222,864 $ (194,385 ) $ (2,421 ) $ 26,058 December 31, 2015 Derivative Assets: Interest rate swaps $ 2,768 $ — $ 2,768 $ (2,768 ) $ — $ — Foreign exchange forwards 30,531 — 30,531 (18,141 ) (1,900 ) 10,490 Foreign currency options 711 (5 ) 706 (706 ) — — Client interest rate derivatives 3,973 — 3,973 (3,973 ) — — Total derivative assets: 37,983 (5 ) 37,978 (25,588 ) (1,900 ) 10,490 Reverse repurchase, securities borrowing, and similar arrangements 125,391 — 125,391 (125,391 ) — — Total $ 163,374 $ (5 ) $ 163,369 $ (150,979 ) $ (1,900 ) $ 10,490 |
Offsetting Liabilities | The following table summarizes our liabilities subject to enforceable master netting arrangements as of September 30, 2016 and December 31, 2015 : 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 September 30, 2016 Derivative Liabilities: Foreign exchange forwards $ 36,764 $ — $ 36,764 $ (17,675 ) $ — $ 19,089 Foreign currency options 2,750 — 2,750 (1,925 ) — 825 Client interest rate derivatives 9,324 — 9,324 (9,324 ) — — Total derivative liabilities: 48,838 — 48,838 (28,924 ) — 19,914 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 48,838 $ — $ 48,838 $ (28,924 ) $ — $ 19,914 December 31, 2015 Derivative Liabilities: Foreign exchange forwards $ 25,647 $ — $ 25,647 $ (10,818 ) $ — $ 14,829 Foreign currency options 711 (5 ) 706 — — 706 Client interest rate derivatives 4,384 — 4,384 (4,384 ) — — Total derivative liabilities: 30,742 (5 ) 30,737 (15,202 ) — 15,535 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 30,742 $ (5 ) $ 30,737 $ (15,202 ) $ — $ 15,535 |
Other Noninterest Income and 34
Other Noninterest Income and Other Noninterest Expense (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Fund management fees $ 5,231 $ 4,074 $ 14,149 $ 11,657 Service-based fee income 2,029 1,931 6,270 6,450 Gains (losses) on revaluation of client foreign currency instruments, net (1) 3,488 2 7,009 (177 ) (Losses) gains on revaluation of internal foreign currency instruments, net (2) (1,406 ) 186 (4,222 ) (11,667 ) Other (3) 11,350 4,884 19,711 16,052 Total other noninterest income $ 20,692 $ 11,077 $ 42,917 $ 22,315 (1) Represents the net revaluation of client foreign currency denominated financial instruments. We enter into client foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client foreign currency denominated financial instruments. The changes in the fair value of client foreign exchange forward contracts are included within noninterest in come in the line item "Gains on derivative instruments, net". (2) Represents the net revaluation of foreign currency denominated financial instruments issued and held by us, primarily loans, deposits and cash. We enter into internal foreign exchange forward contracts to economically reduce our foreign exchange exposure related to these foreign currency denominated financial instruments issued and held by us. The changes in the fair value of internal foreign exchange forward contracts are included within noninterest in come in the line item "Gains on derivative instruments, net". (3) Includes dividends on FHLB/FRB stock, correspondent bank rebate income, incentive fees related to carried interest and other fee income. |
Summary of Other Noninterest Expense | A summary of other noninterest expense for the three and nine months ended September 30, 2016 and 2015 is as follows: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Lending and other client related processing costs $ 5,885 $ 3,608 $ 13,721 $ 10,861 Telephone 2,460 2,224 7,109 6,727 Data processing services 2,137 2,083 6,353 5,274 Dues and publications 809 521 2,258 1,803 Postage and supplies 598 728 2,172 2,220 Other 3,644 5,106 12,679 15,216 Total other noninterest expense $ 15,533 $ 14,270 $ 44,292 $ 42,101 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting | Our segment information for the three and nine months ended September 30, 2016 and 2015 is as follows: (Dollars in thousands) Global Commercial Bank (1) SVB Private Bank SVB Capital (1) Other Items (2) Total Three months ended September 30, 2016 Net interest income $ 262,484 $ 13,298 $ 1 $ 13,378 $ 289,161 Provision for loan losses (16,974 ) (1,976 ) — — (18,950 ) Noninterest income 79,226 664 30,619 33,631 144,140 Noninterest expense (3) (159,429 ) (3,122 ) (3,924 ) (55,352 ) (221,827 ) Income (loss) before income tax expense (4) $ 165,307 $ 8,864 $ 26,696 $ (8,343 ) $ 192,524 Total average loans, net of unearned income $ 16,357,099 $ 2,074,982 $ — $ 215,113 $ 18,647,194 Total average assets (5) 40,829,515 2,091,244 325,321 205,249 43,451,329 Total average deposits 36,484,125 1,115,446 — 310,183 37,909,754 Three months ended September 30, 2015 Net interest income $ 217,932 $ 11,667 $ 1 $ 25,060 $ 254,660 Provision for loan losses (32,074 ) (1,329 ) — — (33,403 ) Noninterest income 68,517 506 17,332 22,122 108,477 Noninterest expense (3) (137,637 ) (2,761 ) (3,745 ) (40,612 ) (184,755 ) Income before income tax expense (4) $ 116,738 $ 8,083 $ 13,588 $ 6,570 $ 144,979 Total average loans, net of unearned income $ 13,047,507 $ 1,669,858 $ — $ 199,287 $ 14,916,652 Total average assets (5) 39,688,677 1,664,602 334,045 326,896 42,014,220 Total average deposits 36,151,235 1,041,773 — 190,059 37,383,067 Nine months ended September 30, 2016 Net interest income (expense) $ 773,342 $ 40,508 $ (51 ) $ 40,119 $ 853,918 Provision for loan losses (86,143 ) (2,481 ) — — (88,624 ) Noninterest income 231,295 2,053 44,492 65,210 343,050 Noninterest expense (3) (461,058 ) (9,481 ) (11,521 ) (144,152 ) (626,212 ) Income (loss) before income tax expense (4) $ 457,436 $ 30,599 $ 32,920 $ (38,823 ) $ 482,132 Total average loans, net of unearned income $ 15,769,964 $ 1,978,175 $ — $ 207,358 $ 17,955,497 Total average assets (5) 41,021,311 1,986,215 334,328 327,862 43,669,716 Total average deposits 37,002,027 1,120,575 — 321,388 38,443,990 Nine months ended September 30, 2015 Net interest income $ 625,611 $ 32,499 $ 3 $ 79,243 $ 737,356 Provision for loan losses (64,126 ) (2,242 ) — — (66,368 ) Noninterest income 197,740 1,498 57,919 101,131 358,288 Noninterest expense (3) (421,425 ) (8,869 ) (10,935 ) (128,179 ) (569,408 ) Income before income tax expense (4) $ 337,800 $ 22,886 $ 46,987 $ 52,195 $ 459,868 Total average loans, net of unearned income $ 12,721,972 $ 1,529,095 $ — $ 180,718 $ 14,431,785 Total average assets (5) 37,449,533 1,527,339 335,136 594,681 39,906,689 Total average deposits 34,124,748 1,125,345 — 163,260 35,413,353 (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. Noncontrolling interest is included within "Other Items". (2) The "Other Items" column reflects the adjustments necessary to reconcile the results of the operating segments to the consolidated financial statements prepared in conformity with GAAP. Net interest income consists primarily of interest earned from our fixed income investment portfolio, net of FTP. Noninterest income consists primarily of gains on equity warrant assets and gains on the sale of fixed income securities. Noninterest expense consists primarily of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. (3) The Global Commercial Bank segment includes direct depreciation and amortization of $6.4 million and $4.9 million for the three months ended September 30, 2016 and 2015 , respectively, and $18.3 million and $14.9 million for the nine months ended September 30, 2016 and 2015 , respectively. (4) The internal reporting model used by management to assess segment performance does not calculate income tax expense by segment. Our effective tax rate is a reasonable approximation of the segment rates. (5) Total average assets equal the greater of total average assets or the sum of total average liabilities and total average stockholders’ equity for each segment to reconcile the results to the consolidated financial statements prepared in conformity with GAAP. |
Off-Balance Sheet Arrangement36
Off-Balance Sheet Arrangements, Guarantees and Other Commitments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 and December 31, 2015 : (Dollars in thousands) September 30, 2016 December 31, 2015 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,377,647 $ 1,312,734 Variable interest rate commitments 13,262,927 12,822,461 Total loan commitments available for funding 14,640,574 14,135,195 Commercial and standby letters of credit (2) 1,656,512 1,479,164 Total unfunded credit commitments $ 16,297,086 $ 15,614,359 Commitments unavailable for funding (3) $ 2,008,689 $ 2,026,532 Maximum lending limits for accounts receivable factoring arrangements (4) 856,096 1,006,404 Reserve for unfunded credit commitments (5) 35,924 34,415 (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, 2016 . 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 Year or Less Expires After One Year Total Amount Outstanding Maximum Amount of Future Payments Financial standby letters of credit $ 1,489,185 $ 49,744 $ 1,538,929 $ 1,538,929 Performance standby letters of credit 94,872 14,601 109,473 109,473 Commercial letters of credit 8,110 — 8,110 8,110 Total $ 1,592,167 $ 64,345 $ 1,656,512 $ 1,656,512 |
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, 2016 : Our Ownership in Venture Capital and Private Equity Funds (Dollars in thousands) SVBFG Capital Commitments SVBFG Unfunded Commitments SVBFG Ownership of each Fund (4) 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 874 — 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 1,275 5.9 SVB Strategic Investors Fund IV, LP 12,239 2,325 5.0 Strategic Investors Fund V funds 515 142 Various SVB Capital Preferred Return Fund, LP 12,688 — 20.0 SVB Capital—NT Growth Partners, LP 24,670 1,340 33.0 Other private equity fund (2) 9,338 — 58.2 Debt funds 58,493 — Various Other fund investments (3) 298,937 12,114 Various Total $ 470,254 $ 19,366 (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 265 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. (4) We are subject to the Volcker Rule, which restricts or limits us from sponsoring or having ownership interests in “covered” funds including venture capital and private equity funds. See “Business - Supervision and Regulation” under Item 1 of Part I of our 2015 Form 10-K. |
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, 2016 : Limited Partnership (Dollars in thousands) Unfunded Commitments SVB Strategic Investors Fund, LP $ 1,338 SVB Capital Preferred Return Fund, LP 2,006 SVB Capital—NT Growth Partners, LP 1,965 Total $ 5,309 |
Fair Value of Financial Instr37
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at September 30, 2016 Assets Available-for-sale securities: U.S. Treasury securities $ 8,939,627 $ — $ — $ 8,939,627 U.S. agency debentures — 2,126,572 — 2,126,572 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,092,289 — 1,092,289 Agency-issued collateralized mortgage obligations - variable rate — 504,487 — 504,487 Equity securities 381 2,341 — 2,722 Total available-for-sale securities 8,940,008 3,725,689 — 12,665,697 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value (1) — — — 141,841 Other venture capital investments (2) — — 2,040 2,040 Other securities (2) 579 — — 579 Total non-marketable and other securities (fair value accounting) 579 — 2,040 144,460 Other assets: Interest rate swaps — 1,324 — 1,324 Foreign exchange forward and option contracts — 49,062 — 49,062 Equity warrant assets — 2,120 143,220 145,340 Client interest rate derivatives — 8,759 — 8,759 Total assets $ 8,940,587 $ 3,786,954 $ 145,260 $ 13,014,642 Liabilities Foreign exchange forward and option contracts $ — $ 39,514 $ — $ 39,514 Client interest rate derivatives — 9,324 — 9,324 Total liabilities $ — $ 48,838 $ — $ 48,838 (1) In accordance with the accounting standard (ASU 2015-07, Fair Value Measurement (Topic 820)), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) Included in Level 1 and Level 3 assets are $0.5 million and $1.8 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, 2015 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2015 Assets Available-for-sale securities: U.S. Treasury securities $ 11,678,035 $ — $ — $ 11,678,035 U.S. agency debentures — 2,690,029 — 2,690,029 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,399,279 — 1,399,279 Agency-issued collateralized mortgage obligations - variable rate — 607,936 — 607,936 Equity securities 4,517 952 — 5,469 Total available-for-sale securities 11,682,552 4,698,196 — 16,380,748 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value (1) — — — 152,237 Other venture capital investments (2) — — 2,040 2,040 Other securities (2) 548 — — 548 Total non-marketable and other securities (fair value accounting) 548 — 2,040 154,825 Other assets: Interest rate swaps — 2,768 — 2,768 Foreign exchange forward and option contracts — 31,237 — 31,237 Equity warrant assets — 1,937 135,168 137,105 Client interest rate derivatives — 3,973 — 3,973 Total assets $ 11,683,100 $ 4,738,111 $ 137,208 $ 16,710,656 Liabilities Foreign exchange forward and option contracts $ — $ 26,353 $ — $ 26,353 Client interest rate derivatives — 4,384 — 4,384 Total liabilities $ — $ 30,737 $ — $ 30,737 (1) In accordance with the accounting standard (ASU 2015-07, Fair Value Measurement (Topic 820)), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position. (2) Included in Level 1 and Level 3 assets are $0.4 million and $1.8 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, 2016 and 2015 , respectively: (Dollars in thousands) Beginning Balance Total Realized and Unrealized Gains (Losses) Included in Income Sales Issuances Distributions and Other Settlements Transfers Out of Level 3 Ending Balance Three months ended September 30, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ 4 $ (4 ) $ — $ — $ — $ 2,040 Other assets: Equity warrant assets (2) 127,811 21,092 (10,682 ) 5,251 — (252 ) 143,220 Total assets $ 129,851 $ 21,096 $ (10,686 ) $ 5,251 $ — $ (252 ) $ 145,260 Three months ended September 30, 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 3,390 $ 15 $ — $ — $ (15 ) $ — $ 3,390 Other assets: Equity warrant assets (2) 120,037 11,551 (6,215 ) 3,556 — (486 ) 128,443 Total assets $ 123,427 $ 11,566 $ (6,215 ) $ 3,556 $ (15 ) $ (486 ) $ 131,833 Nine months ended September 30, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ (21 ) $ (4 ) $ — $ 25 $ — $ 2,040 Other assets: Equity warrant assets (2) 135,168 33,115 (34,276 ) 9,842 — (629 ) 143,220 Total assets $ 137,208 $ 33,094 $ (34,280 ) $ 9,842 $ 25 $ (629 ) $ 145,260 Nine months ended September 30, 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 3,291 $ 146 $ (32 ) $ — $ (15 ) $ — $ 3,390 Other assets: Equity warrant assets (2) 114,698 54,884 (48,374 ) 8,856 — (1,621 ) 128,443 Total assets $ 117,989 $ 55,030 $ (48,406 ) $ 8,856 $ (15 ) $ (1,621 ) $ 131,833 (1) Realized and unrealized gains (losses) are recorded in the line item “Gains on investment securities, net”, a component of noninterest income. (2) Realized and unrealized gains (losses) are recorded in 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 net unrealized gains and losses included in earnings (which is inclusive of noncontrolling interest) attributable to Level 3 assets still held at September 30, 2016 and 2015 , respectively: Three months ended September 30, Nine months ended September 30, (Dollars in thousands) 2016 2015 2016 2015 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ — $ — $ — $ 158 Other assets: Equity warrant assets (2) 15,785 9,115 23,144 21,597 Total unrealized gains, net $ 15,785 $ 9,115 $ 23,144 $ 21,755 Unrealized gains attributable to noncontrolling interests $ — $ — $ — $ 141 (1) Unrealized gains (losses) are recorded in the line item “Gains on investment securities, net ”, a component of noninterest income. (2) Unrealized gains (losses) are recorded in 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, 2016 and December 31, 2015. 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, 2016: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 19,367 Modified Black-Scholes option pricing model Volatility 36.1 % Risk-Free interest rate 1.2 % Sales restrictions discount (2) 11.7 % Equity warrant assets (private portfolio) 123,853 Modified Black-Scholes option pricing model Volatility 36.6 % Risk-Free interest rate 0.8 % Marketability discount (3) 17.5 % Remaining life assumption (4) 45.0 % December 31, 2015: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,786 Modified Black-Scholes option pricing model Volatility 38.1 % Risk-Free interest rate 2.1 % Sales restrictions discount (2) 18.0 % Equity warrant assets (private portfolio) 133,382 Modified Black-Scholes option pricing model Volatility 36.0 % Risk-Free interest rate 1.1 % Marketability discount (3) 16.6 % Remaining life assumption (4) 45.0 % (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) We adjust quoted market prices of public companies, which are subject to certain sales restrictions. Sales restriction discounts generally range from 10% to 20% depending on the duration of the sales restrictions, which typically range from 3 to 6 months. (3) 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 upon various option-pricing models. On a quarterly basis, a sensitivity analysis is performed on our marketability discount. (4) 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, 2016 , the weighted average contractual remaining term was 5.9 years, compared to our estimated remaining life of 2.7 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, 2016 and December 31, 2015 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 September 30, 2016: Financial assets: Cash and cash equivalents $ 2,521,319 $ 2,521,319 $ 2,521,319 $ — $ — Held-to-maturity securities 7,791,949 7,885,333 — 7,885,333 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 124,955 134,174 — — 134,174 Non-marketable securities (cost and equity method accounting) measured at net asset value (1) 249,289 353,606 — — — Net commercial loans 16,807,685 17,089,586 — — 17,089,586 Net consumer loans 2,064,015 2,102,435 — — 2,102,435 FHLB and Federal Reserve Bank stock 57,466 57,466 — — 57,466 Accrued interest receivable 99,263 99,263 — 99,263 — Financial liabilities: Other short-term borrowings 2,421 2,421 2,421 — — Non-maturity deposits (2) 38,137,660 38,137,660 38,137,660 — — Time deposits 51,756 51,654 — 51,654 — 3.50% Senior Notes 346,900 355,681 — 355,681 — 5.375% Senior Notes 347,440 390,313 — 390,313 — 6.05% Subordinated Notes (3) 47,094 48,534 — 48,534 — 7.0% Junior Subordinated Debentures 54,537 53,608 — 53,608 — Accrued interest payable 4,886 4,886 — 4,886 — Off-balance sheet financial assets: Commitments to extend credit — 21,232 — — 21,232 December 31, 2015: Financial assets: Cash and cash equivalents $ 1,503,257 $ 1,503,257 $ 1,503,257 $ — $ — Held-to-maturity securities 8,790,963 8,758,622 — 8,758,622 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 114,795 117,172 — — 117,172 Non-marketable securities (cost and equity method accounting) measured at net asset value (1) 250,970 364,799 — — — Net commercial loans 14,763,302 14,811,588 — — 14,811,588 Net consumer loans 1,761,155 1,737,960 — — 1,737,960 FHLB and Federal Reserve Bank stock 56,991 56,991 — — 56,991 Accrued interest receivable 107,604 107,604 — 107,604 — Financial liabilities: Short-term FHLB advances 638,000 638,000 638,000 — — Federal funds purchased 135,000 135,000 135,000 — — Other short-term borrowings 1,900 1,900 1,900 — — Non-maturity deposits (2) 39,072,297 39,072,297 39,072,297 — — Time deposits 70,479 70,347 — 70,347 — 3.50% Senior Notes 346,667 333,648 — 333,648 — 5.375% Senior Notes 347,016 384,216 — 384,216 — 6.05% Subordinated Notes (3) 48,350 49,820 — 49,820 — 7.0% Junior Subordinated Debentures 54,669 52,905 — 52,905 — Accrued interest payable 12,058 12,058 — 12,058 — Off-balance sheet financial assets: Commitments to extend credit — 26,483 — — 26,483 (1) In accordance with the accounting standard (ASU 2015-07, Fair Value Measurement (Topic 820)), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. (2) Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. (3) At September 30, 2016 and December 31, 2015 , included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was an interest rate swap valued at $1.3 million and $2.8 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, 2016 : (Dollars in thousands) Carrying Amount Fair Value Unfunded Commitments Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 141,841 $ 141,841 $ 5,309 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (2) 84,904 84,904 4,954 Debt funds (2) 18,971 20,217 — Other investments (2) 30,301 30,297 886 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) 115,113 218,188 11,306 Total $ 391,130 $ 495,447 $ 22,455 (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 science/healthcare companies. Included in the fair value and unfunded commitments of fund investments under fair value accounting are $101 million and $4 million , respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. (2) Venture capital and private equity fund investments, debt funds, and other fund investments within non-marketable securities (equity and cost method accounting) include funds that invest in or lend money to primarily U.S. and global technology and life science/healthcare companies. It is estimated that we will receive distributions from the funds over the next 10 to 13 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Stockholders' Equity and EPS -
Stockholders' Equity and EPS - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Related tax (benefit) expense | $ (76,877) | $ (57,017) | $ (195,508) | $ (175,057) |
Net income available to common stockholders | 111,081 | 81,733 | 283,219 | 256,392 |
Reclassification out of Accumulated Other Comprehensive Income | Gains on investment securities, net | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Reclassification adjustment for losses (gains) included in net income | 15 | (13) | (11,567) | (2,750) |
Related tax (benefit) expense | (6) | 6 | 4,707 | 1,111 |
Net income available to common stockholders | $ 9 | $ (7) | $ (6,860) | $ (1,639) |
Stockholders' Equity and EPS 39
Stockholders' Equity and EPS - Reconciliation of Basic EPS to Diluted EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Numerator: | ||||
Net income available to common stockholders | $ 111,081 | $ 81,733 | $ 283,219 | $ 256,392 |
Denominator: | ||||
Weighted average common shares outstanding-basic (in shares) | 52,046 | 51,479 | 51,842 | 51,254 |
Denominator for diluted calculation (in shares) | 52,413 | 52,048 | 52,229 | 51,878 |
Earnings per common share: | ||||
Basic (dollars per share) | $ 2.13 | $ 1.59 | $ 5.46 | $ 5 |
Diluted (dollars per share) | $ 2.12 | $ 1.57 | $ 5.42 | $ 4.94 |
Stock options and ESPP | ||||
Denominator: | ||||
Weighted average effect of dilutive securities (in shares) | 233 | 382 | 245 | 411 |
Restricted stock units | ||||
Denominator: | ||||
Weighted average effect of dilutive securities (in shares) | 134 | 187 | 142 | 213 |
Stockholders' Equity and EPS 40
Stockholders' Equity and EPS - Common Shares Excluded from Diluted EPS Calculation as They Were Deemed to be Anti-Dilutive (Detail) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Shares excluded from diluted earnings per share calculation | 638 | 143 | 453 | 169 |
Stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Shares excluded from diluted earnings per share calculation | 518 | 142 | 444 | 169 |
Restricted stock units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Shares excluded from diluted earnings per share calculation | 120 | 1 | 9 | 0 |
Share-Based Compensation - Shar
Share-Based Compensation - Share Based Compensation and Related Tax Benefits (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Share-based compensation expense | $ 7,916 | $ 8,188 | $ 22,342 | $ 24,174 |
Income tax benefit related to share-based compensation expense | $ (2,881) | $ (3,051) | $ (7,461) | $ (8,381) |
Share-Based Compensation - Unre
Share-Based Compensation - Unrecognized Compensation Expense (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 62,244 |
Stock options | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 11,150 |
Average Expected Recognition Period - in Years | 2 years 6 months 7 days |
Restricted stock units | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 51,094 |
Average Expected Recognition Period - in Years | 2 years 8 months 5 days |
Share-Based Compensation - Sh43
Share-Based Compensation - Share-Based Payment Award Activity (Detail) | 9 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Options | |
Outstanding, beginning of period, in shares | shares | 1,137,228 |
Granted, in shares | shares | 177,203 |
Exercised, in shares | shares | (141,248) |
Forfeited, in shares | shares | (19,305) |
Expired, in shares | shares | (190) |
Outstanding, end of period, in shares | shares | 1,153,688 |
Vested and expected to vest, end of period, in shares | shares | 1,123,538 |
Exercisable, end of period, in shares | shares | 706,677 |
Weighted Average Exercise Price | |
Outstanding, beginning of period, in usd per share | $ / shares | $ 77.12 |
Granted, in usd per share | $ / shares | 105.11 |
Exercised, in usd per share | $ / shares | 43.90 |
Forfeited, in usd per share | $ / shares | 100.80 |
Expired, in usd per share | $ / shares | 19.48 |
Outstanding, end of period, in usd per share | $ / shares | 85.10 |
Vested and expected to vest, end of period, in usd per share | $ / shares | 84.47 |
Exercisable, end of period, in usd per share | $ / shares | $ 72.25 |
Weighted Average Remaining Contractual Life - in Years | |
Outstanding, end of period | 3 years 9 months 29 days |
Vested and expected to vest, end of period | 3 years 9 months 7 days |
Exercisable, end of period | 2 years 9 months 22 days |
Aggregate Intrinsic Value of In-The-Money Options | |
Outstanding, end of period | $ | $ 31,649,669 |
Vested and expected to vest, end of period | $ | 31,469,498 |
Exercisable, end of period | $ | $ 27,648,800 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Closing stock price | $ 110.54 | $ 110.54 | ||
Total intrinsic value of options exercised | $ 1.5 | $ 2.2 | $ 8.2 | $ 24 |
Share-Based Compensation - Info
Share-Based Compensation - Information for Restricted Stock Units under Equity Incentive Plan (Detail) - Restricted stock units | 9 Months Ended |
Sep. 30, 2016$ / sharesshares | |
Shares | |
Nonvested, beginning of period, in shares | shares | 572,038 |
Granted, in shares | shares | 359,028 |
Vested, in shares | shares | (215,587) |
Forfeited, in shares | shares | (24,508) |
Nonvested, end of period, in shares | shares | 690,971 |
Weighted Average Grant Date Fair Value | |
Nonvested, beginning of period, in usd per share | $ / shares | $ 103.50 |
Granted, in usd per share | $ / shares | 100.17 |
Vested, in usd per share | $ / shares | 87.67 |
Forfeited, in usd per share | $ / shares | 106.50 |
Nonvested, end of period, in usd per share | $ / shares | $ 106.61 |
Variable Interest Entities - Ca
Variable Interest Entities - Carrying Amounts and Classification of Significant Variable Interests (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Variable Interest Entity [Line Items] | ||
Cash and cash equivalents | $ 2,521,319 | $ 1,503,257 |
Non-marketable and other securities | 625,178 | 674,946 |
Accrued interest receivable and other assets | 683,180 | 709,707 |
Total assets | 43,274,037 | 44,686,703 |
Total liabilities | 39,550,720 | 41,353,472 |
Maximum exposure to loss in unconsolidated VIEs | 312,693 | 364,450 |
Consolidated | ||
Variable Interest Entity [Line Items] | ||
Cash and cash equivalents | 12,870 | 11,811 |
Non-marketable and other securities | 195,956 | 203,714 |
Accrued interest receivable and other assets | 333 | 494 |
Total assets | 209,159 | 216,019 |
Accrued expenses and other liabilities | 909 | 433 |
Total liabilities | 909 | 433 |
Maximum exposure to loss in unconsolidated VIEs | 208,300 | |
Unconsolidated | ||
Variable Interest Entity [Line Items] | ||
Non-marketable and other securities | 312,693 | 364,450 |
Total assets | 312,693 | 364,450 |
Accrued expenses and other liabilities | 52,846 | 90,978 |
Total liabilities | 52,846 | 90,978 |
Low income housing tax credit funds | Unconsolidated | ||
Variable Interest Entity [Line Items] | ||
Non-marketable and other securities | 106,500 | 154,400 |
Unfunded commitments | ||
Variable Interest Entity [Line Items] | ||
Accrued expenses and other liabilities | 52,846 | 90,978 |
Unfunded commitments | Unconsolidated | ||
Variable Interest Entity [Line Items] | ||
Non-marketable and other securities | $ 52,800 | $ 91,000 |
Variable Interest Entities - Ad
Variable Interest Entities - Additional Information (Details) $ in Thousands | Sep. 30, 2016USD ($)entity | Dec. 31, 2015USD ($) |
Variable Interest Entity [Line Items] | ||
Number of consolidated entities | entity | 5 | |
Maximum exposure to loss in unconsolidated VIEs | $ 312,693 | $ 364,450 |
Consolidated | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss in unconsolidated VIEs | $ 208,300 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents [Abstract] | ||
Cash and due from banks | $ 2,352,469 | $ 1,372,743 |
Securities purchased under agreements to resell | 163,719 | 125,391 |
Other short-term investment securities | 5,131 | 5,123 |
Total cash and cash equivalents | $ 2,521,319 | $ 1,503,257 |
Cash and Cash Equivalents (Addi
Cash and Cash Equivalents (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents [Abstract] | ||
Deposits at the Federal Reserve Bank earning interest at the Federal Funds target rate | $ 1,300 | $ 405 |
Interest-earning deposits in other financial institutions | 724 | 500 |
Fair value of securities purchased under agreements to resell | $ 167 | $ 128 |
Investment Securities - Major C
Investment Securities - Major Components of Investment Securities Portfolio (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Investment Holdings [Line Items] | ||
Amortized Cost | $ 12,514,893 | $ 16,375,941 |
Unrealized Gains | 154,075 | 47,578 |
Unrealized Losses | (3,271) | (42,771) |
Carrying Value | 12,665,697 | 16,380,748 |
U.S. treasury securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 8,828,906 | 11,679,450 |
Unrealized Gains | 110,721 | 19,134 |
Unrealized Losses | 0 | (20,549) |
Carrying Value | 8,939,627 | 11,678,035 |
U.S. agency debentures | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 2,089,590 | 2,677,453 |
Unrealized Gains | 36,982 | 17,684 |
Unrealized Losses | 0 | (5,108) |
Carrying Value | 2,126,572 | 2,690,029 |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 1,089,956 | 1,408,206 |
Unrealized Gains | 4,896 | 6,591 |
Unrealized Losses | (2,563) | (15,518) |
Carrying Value | 1,092,289 | 1,399,279 |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 504,134 | 604,236 |
Unrealized Gains | 839 | 3,709 |
Unrealized Losses | (486) | (9) |
Carrying Value | 504,487 | 607,936 |
Equity securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 2,307 | 6,596 |
Unrealized Gains | 637 | 460 |
Unrealized Losses | (222) | (1,587) |
Carrying Value | $ 2,722 | $ 5,469 |
Investment Securities - Summary
Investment Securities - Summary of Unrealized Losses on Available for Sale Securities (Detail) $ in Thousands | Sep. 30, 2016USD ($)Investment | Dec. 31, 2015USD ($)Investment |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | $ 533,741 | $ 8,783,725 |
Less than 12 months - Unrealized Losses | (1,177) | (31,934) |
12 months or longer - Fair Value of Investments | 247,100 | 373,284 |
12 months or longer - Unrealized Losses | (2,094) | (10,837) |
Fair Value of Investments | 780,841 | 9,157,009 |
Unrealized Losses | $ (3,271) | $ (42,771) |
Number of investments in unrealized loss position | Investment | 103 | 243 |
Number of investments with unrealized losses greater than 12 months | Investment | 14 | 18 |
U.S. treasury securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | $ 7,467,519 | |
Less than 12 months - Unrealized Losses | (20,549) | |
12 months or longer - Fair Value of Investments | 0 | |
12 months or longer - Unrealized Losses | 0 | |
Fair Value of Investments | 7,467,519 | |
Unrealized Losses | (20,549) | |
U.S. agency debentures | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 760,071 | |
Less than 12 months - Unrealized Losses | (5,108) | |
12 months or longer - Fair Value of Investments | 0 | |
12 months or longer - Unrealized Losses | 0 | |
Fair Value of Investments | 760,071 | |
Unrealized Losses | (5,108) | |
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 | $ 310,991 | 545,404 |
Less than 12 months - Unrealized Losses | (469) | (4,681) |
12 months or longer - Fair Value of Investments | 247,100 | 373,284 |
12 months or longer - Unrealized Losses | (2,094) | (10,837) |
Fair Value of Investments | 558,091 | 918,688 |
Unrealized Losses | (2,563) | (15,518) |
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 | 221,818 | 7,776 |
Less than 12 months - Unrealized Losses | (486) | (9) |
12 months or longer - Fair Value of Investments | 0 | 0 |
12 months or longer - Unrealized Losses | 0 | 0 |
Fair Value of Investments | 221,818 | 7,776 |
Unrealized Losses | (486) | (9) |
Equity securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 932 | 2,955 |
Less than 12 months - Unrealized Losses | (222) | (1,587) |
12 months or longer - Fair Value of Investments | 0 | 0 |
12 months or longer - Unrealized Losses | 0 | 0 |
Fair Value of Investments | 932 | 2,955 |
Unrealized Losses | $ (222) | $ (1,587) |
Investment Securities - Summa52
Investment Securities - Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Debt Securities Classified as Available for Sale (Detail) - Available-for-sale Securities $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 12,662,975 |
Weighted- Average Yield | 1.39% |
One Year or Less - Carrying Value | $ 2,078,654 |
One Year or Less - Weighted- Average Yield | 0.88% |
After One Year to Five Years - Carrying Value | $ 8,987,545 |
After One Year to Five Years - Weighted- Average Yield | 1.48% |
After Five Years to Ten Years - Carrying Value | $ 755,958 |
After Five Years to Ten Years - Weighted- Average Yield | 2.09% |
After Ten Years - Carrying Value | $ 840,818 |
After Ten Years - Weighted- Average Yield | 1.03% |
U.S. treasury securities | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 8,939,627 |
Weighted- Average Yield | 1.31% |
One Year or Less - Carrying Value | $ 1,652,444 |
One Year or Less - Weighted- Average Yield | 0.80% |
After One Year to Five Years - Carrying Value | $ 7,287,183 |
After One Year to Five Years - Weighted- Average Yield | 1.43% |
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 | $ 0 |
After Ten Years - Weighted- Average Yield | 0.00% |
U.S. agency debentures | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 2,126,572 |
Weighted- Average Yield | 1.60% |
One Year or Less - Carrying Value | $ 426,210 |
One Year or Less - Weighted- Average Yield | 1.17% |
After One Year to Five Years - Carrying Value | $ 1,700,362 |
After One Year to Five Years - Weighted- Average Yield | 1.71% |
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 | $ 0 |
After Ten Years - Weighted- Average Yield | 0.00% |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 1,092,289 |
Weighted- Average Yield | 1.91% |
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 | $ 755,958 |
After Five Years to Ten Years - Weighted- Average Yield | 2.09% |
After Ten Years - Carrying Value | $ 336,331 |
After Ten Years - Weighted- Average Yield | 1.52% |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 504,487 |
Weighted- Average Yield | 0.71% |
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 | $ 504,487 |
After Ten Years - Weighted- Average Yield | 0.71% |
Lower Limit | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Mortgage-backed securities contractual maturities (in years) | 10 years |
Upper Limit | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Mortgage-backed securities contractual maturities (in years) | 30 years |
Investment Securities - Summa53
Investment Securities - Summary of Unrealized Losses on Held to Maturity Securities (Details) $ in Thousands | Sep. 30, 2016USD ($)Investment | Dec. 31, 2015USD ($)Investment |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 7,791,949 | $ 8,790,963 |
Unrealized Gains | 97,581 | 16,694 |
Unrealized Losses | (4,197) | (49,035) |
Fair Value | 7,885,333 | 8,758,622 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 420,064 | 6,302,783 |
Unrealized Losses, Less than 12 months | (1,057) | (44,391) |
Fair Value of Investments, 12 months or longer | 323,211 | 238,350 |
Unrealized Losses, 12 months or longer | (3,140) | (4,644) |
Fair Value of Investments | 743,275 | 6,541,133 |
Unrealized Losses | $ (4,197) | $ (49,035) |
Number of held-to-maturity investments with unrealized loss | Investment | 140 | 384 |
Number of held-to-maturity investments in continuous loss more than 12 months | Investment | 78 | 58 |
U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 622,692 | $ 545,473 |
Unrealized Gains | 17,642 | 8,876 |
Unrealized Losses | 0 | 0 |
Fair Value | 640,334 | 554,349 |
Agency-issued mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 2,092,082 | 2,366,627 |
Unrealized Gains | 37,993 | 546 |
Unrealized Losses | (309) | (11,698) |
Fair Value | 2,129,766 | 2,355,475 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 8,249 | 2,121,258 |
Unrealized Losses, Less than 12 months | (53) | (10,860) |
Fair Value of Investments, 12 months or longer | 23,238 | 22,507 |
Unrealized Losses, 12 months or longer | (256) | (838) |
Fair Value of Investments | 31,487 | 2,143,765 |
Unrealized Losses | (309) | (11,698) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,593,453 | 4,225,781 |
Unrealized Gains | 28,800 | 3,054 |
Unrealized Losses | (1,962) | (32,999) |
Fair Value | 3,620,291 | 4,195,836 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 77,313 | 3,153,483 |
Unrealized Losses, Less than 12 months | (136) | (30,230) |
Fair Value of Investments, 12 months or longer | 247,706 | 150,058 |
Unrealized Losses, 12 months or longer | (1,826) | (2,769) |
Fair Value of Investments | 325,019 | 3,303,541 |
Unrealized Losses | (1,962) | (32,999) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 327,673 | 370,779 |
Unrealized Gains | 188 | 758 |
Unrealized Losses | (580) | (33) |
Fair Value | 327,281 | 371,504 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 207,339 | 170,350 |
Unrealized Losses, Less than 12 months | (580) | (33) |
Fair Value of Investments, 12 months or longer | 0 | 0 |
Unrealized Losses, 12 months or longer | 0 | 0 |
Fair Value of Investments | 207,339 | 170,350 |
Unrealized Losses | (580) | (33) |
Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,101,234 | 1,214,716 |
Unrealized Gains | 12,837 | 3,405 |
Unrealized Losses | (311) | (3,475) |
Fair Value | 1,113,760 | 1,214,646 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 112,586 | 823,414 |
Unrealized Losses, Less than 12 months | (157) | (2,994) |
Fair Value of Investments, 12 months or longer | 19,272 | 40,276 |
Unrealized Losses, 12 months or longer | (154) | (481) |
Fair Value of Investments | 131,858 | 863,690 |
Unrealized Losses | (311) | (3,475) |
Municipal bonds and notes | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 54,815 | 67,587 |
Unrealized Gains | 121 | 55 |
Unrealized Losses | (1,035) | (830) |
Fair Value | 53,901 | 66,812 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 14,577 | 34,278 |
Unrealized Losses, Less than 12 months | (131) | (274) |
Fair Value of Investments, 12 months or longer | 32,995 | 25,509 |
Unrealized Losses, 12 months or longer | (904) | (556) |
Fair Value of Investments | 47,572 | 59,787 |
Unrealized Losses | $ (1,035) | $ (830) |
Investment Securities - Summa54
Investment Securities - Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Debt Securities Classified as Held to Maturity (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Federal statutory tax rate | 35.00% | |
Amortized Cost | $ 7,791,949 | $ 8,790,963 |
Held-to-maturity securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 7,791,949 | |
Weighted- Average Yield | 2.01% | |
One Year or Less - Amortized Cost | $ 4,076 | |
One Year or Less - Weighted- Average Yield | 5.76% | |
After One Year to Five Years - Amortized Cost | $ 329,169 | |
After One Year to Five Years - Weighted- Average Yield | 2.93% | |
After Five Years to Ten Years - Amortized Cost | $ 837,848 | |
After Five Years to Ten Years - Weighted- Average Yield | 2.29% | |
After Ten Years - Amortized Cost | $ 6,620,856 | |
After Ten Years - Weighted- Average Yield | 1.92% | |
Held-to-maturity securities | U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 622,692 | |
Weighted- Average Yield | 2.43% | |
One Year or Less - Amortized Cost | $ 0 | |
One Year or Less - Weighted- Average Yield | 0.00% | |
After One Year to Five Years - Amortized Cost | $ 47,478 | |
After One Year to Five Years - Weighted- Average Yield | 3.25% | |
After Five Years to Ten Years - Amortized Cost | $ 575,214 | |
After Five Years to Ten Years - Weighted- Average Yield | 2.36% | |
After Ten Years - Amortized Cost | $ 0 | |
After Ten Years - Weighted- Average Yield | 0.00% | |
Held-to-maturity securities | Agency-issued mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 2,092,082 | |
Weighted- Average Yield | 2.38% | |
One Year or Less - Amortized Cost | $ 0 | |
One Year or Less - Weighted- Average Yield | 0.00% | |
After One Year to Five Years - Amortized Cost | $ 257,766 | |
After One Year to Five Years - Weighted- Average Yield | 2.58% | |
After Five Years to Ten Years - Amortized Cost | $ 216,197 | |
After Five Years to Ten Years - Weighted- Average Yield | 1.74% | |
After Ten Years - Amortized Cost | $ 1,618,119 | |
After Ten Years - Weighted- Average Yield | 2.44% | |
Held-to-maturity securities | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 3,593,453 | |
Weighted- Average Yield | 1.73% | |
One Year or Less - Amortized Cost | $ 0 | |
One Year or Less - Weighted- Average Yield | 0.00% | |
After One Year to Five Years - Amortized Cost | $ 0 | |
After One Year to Five Years - Weighted- Average Yield | 0.00% | |
After Five Years to Ten Years - Amortized Cost | $ 22,233 | |
After Five Years to Ten Years - Weighted- Average Yield | 1.75% | |
After Ten Years - Amortized Cost | $ 3,571,220 | |
After Ten Years - Weighted- Average Yield | 1.73% | |
Held-to-maturity securities | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 327,673 | |
Weighted- Average Yield | 0.74% | |
One Year or Less - Amortized Cost | $ 0 | |
One Year or Less - Weighted- Average Yield | 0.00% | |
After One Year to Five Years - Amortized Cost | $ 0 | |
After One Year to Five Years - Weighted- Average Yield | 0.00% | |
After Five Years to Ten Years - Amortized Cost | $ 0 | |
After Five Years to Ten Years - Weighted- Average Yield | 0.00% | |
After Ten Years - Amortized Cost | $ 327,673 | |
After Ten Years - Weighted- Average Yield | 0.74% | |
Held-to-maturity securities | Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 1,101,234 | |
Weighted- Average Yield | 2.13% | |
One Year or Less - Amortized Cost | $ 0 | |
One Year or Less - Weighted- Average Yield | 0.00% | |
After One Year to Five Years - Amortized Cost | $ 0 | |
After One Year to Five Years - Weighted- Average Yield | 0.00% | |
After Five Years to Ten Years - Amortized Cost | $ 0 | |
After Five Years to Ten Years - Weighted- Average Yield | 0.00% | |
After Ten Years - Amortized Cost | $ 1,101,234 | |
After Ten Years - Weighted- Average Yield | 2.13% | |
Held-to-maturity securities | Municipal bonds and notes | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 54,815 | |
Weighted- Average Yield | 6.07% | |
One Year or Less - Amortized Cost | $ 4,076 | |
One Year or Less - Weighted- Average Yield | 5.76% | |
After One Year to Five Years - Amortized Cost | $ 23,925 | |
After One Year to Five Years - Weighted- Average Yield | 6.02% | |
After Five Years to Ten Years - Amortized Cost | $ 24,204 | |
After Five Years to Ten Years - Weighted- Average Yield | 6.13% | |
After Ten Years - Amortized Cost | $ 2,610 | |
After Ten Years - Weighted- Average Yield | 6.46% | |
Lower Limit | Held-to-maturity securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Mortgage-backed securities contractual maturities (in years) | 10 years | |
Upper Limit | Held-to-maturity securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Mortgage-backed securities contractual maturities (in years) | 30 years |
Investment Securities - Non-mar
Investment Securities - Non-marketable and Other Securities (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016USD ($)Investment | Sep. 30, 2015USD ($)Investment | Sep. 30, 2016USD ($)Investment | Sep. 30, 2015USD ($)Investment | Dec. 31, 2015USD ($)Investment | |
Investment Holdings [Line Items] | |||||
Total non-marketable and other securities | $ 625,178 | $ 625,178 | $ 674,946 | ||
Upper Limit | |||||
Investment Holdings [Line Items] | |||||
Equity method investment voting ownership percentage | 5.00% | 5.00% | 5.00% | ||
Fair value accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 579 | 579 | $ 548 | ||
Venture capital and private equity fund investments | Fair value accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 141,841 | 141,841 | 152,237 | ||
Non-marketable securities, equity method accounting | 84,904 | 84,904 | 85,705 | ||
Non-marketable securities, cost method accounting | 218,000 | 218,000 | 233,000 | ||
Venture capital and private equity fund investments | Fair value accounting | SVB Strategic Investors Fund, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 17,940 | $ 17,940 | $ 20,794 | ||
Percentage of ownership | 12.60% | 12.60% | |||
Venture capital and private equity fund investments | Fair value accounting | SVB Strategic Investors Fund II, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 9,133 | $ 9,133 | $ 10,035 | ||
Percentage of ownership | 8.60% | 8.60% | |||
Venture capital and private equity fund investments | Fair value accounting | SVB Strategic Investors Fund III, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 21,369 | $ 21,369 | $ 23,926 | ||
Percentage of ownership | 5.90% | 5.90% | |||
Venture capital and private equity fund investments | Fair value accounting | SVB Strategic Investors Fund IV, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 25,737 | $ 25,737 | $ 26,411 | ||
Percentage of ownership | 5.00% | 5.00% | |||
Venture capital and private equity fund investments | Fair value accounting | Strategic Investors Fund V Funds | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 11,715 | $ 11,715 | $ 10,470 | ||
Venture capital and private equity fund investments | Fair value accounting | SVB Capital Preferred Return Fund, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 57,488 | $ 57,488 | $ 60,619 | ||
Percentage of ownership | 20.00% | 20.00% | |||
Venture capital and private equity fund investments | Fair value accounting | SVB Capital—NT Growth Partners, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 59,692 | $ 59,692 | $ 62,983 | ||
Percentage of ownership | 33.00% | 33.00% | |||
Venture capital and private equity fund investments | Fair value accounting | Other private equity fund | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 6,721 | $ 6,721 | $ 7,841 | ||
Percentage of ownership | 58.20% | 58.20% | |||
Venture capital and private equity fund investments | Fair value accounting | Other private equity fund | Direct ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 41.50% | ||||
Venture capital and private equity fund investments | Fair value accounting | Other investments | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 16,950 | $ 16,950 | $ 14,863 | ||
Venture capital and private equity fund investments | Equity method accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 84,904 | 84,904 | 85,705 | ||
Venture capital and private equity fund investments | Cost method accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, cost method accounting | $ 115,113 | $ 115,113 | $ 120,676 | ||
Number of investments | Investment | 255 | 270 | 255 | 270 | 267 |
Other venture capital investments | Fair value accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | $ 2,040 | $ 2,040 | $ 2,040 | ||
Other venture capital investments | Fair value accounting | Silicon Valley BancVentures, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, fair value accounting | 2,040 | $ 2,040 | $ 2,040 | ||
Percentage of ownership | 10.70% | 10.70% | |||
Debt funds | Equity method accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 18,971 | $ 18,971 | $ 21,970 | ||
Debt funds | Equity method accounting | Gold Hill Capital 2008, LP | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 15,496 | $ 15,496 | $ 17,453 | ||
Percentage of ownership | 15.50% | 15.50% | |||
Debt funds | Equity method accounting | Other investments | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 3,475 | $ 3,475 | $ 4,517 | ||
Other investments | Fair value accounting | SVB Capital Preferred Return Fund, LP | Indirect ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 4.10% | ||||
Other investments | Fair value accounting | SVB Capital—NT Growth Partners, LP | Indirect ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 12.60% | ||||
Other investments | Fair value accounting | Other private equity fund | Direct ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 41.50% | ||||
Other investments | Equity method accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 128,422 | $ 128,422 | 118,532 | ||
Other investments | Equity method accounting | Gold Hill Capital 2008, LP | Direct ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 11.50% | ||||
Other investments | Equity method accounting | Gold Hill Capital 2008, LP | Indirect ownership interest | |||||
Investment Holdings [Line Items] | |||||
Percentage of ownership | 4.00% | ||||
Other investments | Equity method accounting | China Joint Venture investment | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 77,817 | $ 77,817 | $ 78,799 | ||
Percentage of ownership | 50.00% | 50.00% | |||
Other investments | Equity method accounting | Other investments | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, equity method accounting | 50,605 | $ 50,605 | $ 39,733 | ||
Other investments | Cost method accounting | |||||
Investment Holdings [Line Items] | |||||
Non-marketable securities, cost method accounting | 26,834 | 26,834 | 18,882 | ||
Low income housing tax credit funds | |||||
Investment Holdings [Line Items] | |||||
Nonmarketable securities, other | 106,474 | 106,474 | 154,356 | ||
Tax credits and other tax benefits recognized | 3,995 | $ 4,780 | 12,127 | $ 11,207 | |
Amortization expense included in provision for income taxes | 2,556 | $ 2,011 | 9,746 | $ 7,549 | |
Unfunded commitments | |||||
Investment Holdings [Line Items] | |||||
Accrued expenses and other liabilities | $ 52,846 | $ 52,846 | $ 90,978 |
Investment Securities - Compone
Investment Securities - Components of Gains and Losses (Realized and Unrealized) on Investment Securities (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($)Investment | Sep. 30, 2015USD ($)Investment | Sep. 30, 2016USD ($)Investment | Sep. 30, 2015USD ($)Investment | Dec. 31, 2015Investment | |
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | $ 26,328 | $ 21,787 | $ 67,752 | $ 85,175 | |
Gross losses on investment securities | (3,150) | (3,019) | (25,988) | (8,169) | |
Gains on investment securities, net | 23,178 | 18,768 | 41,764 | 77,006 | |
Cost method accounting | Venture capital and private equity fund investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Recognized other-than-temporary impairment (OTTI) losses | $ 100 | $ 100 | $ 500 | $ 400 | |
Number of other-than-temporary impaired investments | Investment | 5 | 4 | 21 | 19 | |
Number of investments | Investment | 255 | 270 | 255 | 270 | 267 |
Available-for-sale Securities | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | $ 84 | $ 46 | $ 14,238 | $ 2,971 | |
Gross losses on investment securities | (99) | (33) | (2,671) | (221) | |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 6,030 | 6,746 | 16,377 | 24,767 | |
Gross losses on investment securities | (2,122) | (1,148) | (15,958) | (2,695) | |
Non-marketable securities | Fair value accounting | Other venture capital investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 4 | 15 | 17 | 198 | |
Gross losses on investment securities | 0 | 0 | (38) | (52) | |
Non-marketable securities | Fair value accounting | Other securities | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 271 | 40 | 639 | 9,108 | |
Gross losses on investment securities | (100) | (325) | (507) | (1,117) | |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 5,679 | 6,655 | 9,351 | 19,378 | |
Gross losses on investment securities | (444) | (472) | (4,465) | (909) | |
Non-marketable securities | Equity method accounting | Debt funds | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 295 | 379 | 1,259 | 2,067 | |
Gross losses on investment securities | (129) | (1) | (458) | (589) | |
Non-marketable securities | Equity method accounting | Other investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 7,487 | 2,282 | 11,528 | 5,009 | |
Gross losses on investment securities | (205) | (902) | (1,161) | (2,042) | |
Non-marketable securities | Cost method accounting | Venture capital and private equity fund investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 6,328 | 5,624 | 14,180 | 21,101 | |
Gross losses on investment securities | (51) | (132) | (492) | (530) | |
Non-marketable securities | Cost method accounting | Other investments | |||||
Gain (Loss) on Investments [Line Items] | |||||
Gross gains on investment securities | 150 | 0 | 163 | 576 | |
Gross losses on investment securities | $ 0 | $ (6) | $ (238) | $ (14) |
Loans and Allowance for Loan 57
Loans and Allowance for Loan Losses - Composition of Loans, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unearned income on loans | $ 117,000 | $ 115,000 |
Loans, net of unearned income | 19,112,265 | 16,742,070 |
Commercial Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 16,245,107 | 14,201,115 |
Commercial Portfolio Segment | Software and internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 5,393,425 | 5,437,915 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,147,830 | 1,071,528 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 7,412,238 | 5,467,577 |
Commercial Portfolio Segment | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,732,917 | 1,710,642 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 872,031 | 847,295 |
Commercial Portfolio Segment | Premium wine | Non-real estate secured commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 190,223 | 201,175 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 368,474 | 312,278 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 477,088 | 435,790 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,561,363 | 2,235,390 |
Commercial Real Estate Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 681,808 | 646,120 |
Commercial Real Estate Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,835,630 | 1,544,440 |
Commercial Real Estate Portfolio Segment | Other real estate loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 43,925 | 44,830 |
Construction Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 64,689 | 78,682 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,076,736 | 1,771,323 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,835,630 | 1,544,440 |
Consumer Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 241,106 | $ 226,883 |
Loans and Allowance for Loan 58
Loans and Allowance for Loan Losses - Composition of Loans, Net of Unearned income (Additional Information) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 19,112,265 | $ 16,742,070 |
Credit card loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loan portfolio | 201,000 | 177,000 |
Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross construction loans | 109,000 | 121,000 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,076,736 | 1,771,323 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,835,630 | 1,544,440 |
Consumer Portfolio Segment | Real estate secured loans | Loans for personal residence | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,563,697 | 1,312,818 |
Consumer Portfolio Segment | Real estate secured loans | Loans to eligible employees | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 189,593 | 156,001 |
Consumer Portfolio Segment | Real estate secured loans | Home equity lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 82,340 | $ 75,621 |
Loans and Allowance for Loan 59
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 ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Unearned income on loans | $ 117,000 | $ 115,000 |
Loans, net of unearned income | 19,112,265 | 16,742,070 |
Commercial Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 16,245,107 | 14,201,115 |
Commercial Portfolio Segment | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 5,393,425 | 5,437,915 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,147,830 | 1,071,528 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 7,412,238 | 5,467,577 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,732,917 | 1,710,642 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 872,031 | 847,295 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 477,088 | 435,790 |
Commercial and Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 17,035,529 | 14,970,747 |
Consumer Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,076,736 | 1,771,323 |
Consumer Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 241,106 | 226,883 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 1,835,630 | $ 1,544,440 |
Loans and Allowance for Loan 60
Loans and Allowance for Loan Losses - Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 50,434 | $ 32,346 |
Current | 19,178,494 | 16,824,785 |
Loans Past Due 90 Days or More Still Accruing Interest | 125 | 0 |
Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 40,929 | 24,792 |
Current | 19,020,852 | 16,649,655 |
Loans Past Due 90 Days or More Still Accruing Interest | 125 | 0 |
Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 9,505 | 7,554 |
Current | 157,642 | 175,130 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
30 - 59 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 31,362 | 10,800 |
30 - 59 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 31,362 | 10,467 |
30 - 59 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 333 |
60 - 89 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 12,029 | 14,325 |
60 - 89 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 9,442 | 14,325 |
60 - 89 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,587 | 0 |
Greater Than 90 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7,043 | 7,221 |
Greater Than 90 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 125 | 0 |
Greater Than 90 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 6,918 | 7,221 |
Commercial Portfolio Segment | Software and internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 14,749 | 10,022 |
Current | 5,359,727 | 5,371,222 |
Loans Past Due 90 Days or More Still Accruing Interest | 59 | 0 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 11,486 | 1,127 |
Current | 1,095,263 | 1,051,368 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 73 | 17 |
Current | 7,465,573 | 5,511,912 |
Loans Past Due 90 Days or More Still Accruing Interest | 51 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 999 | 7,390 |
Current | 1,690,070 | 1,665,801 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 12,265 | 81 |
Current | 860,353 | 847,249 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 111 | 36 |
Current | 479,754 | 438,313 |
Loans Past Due 90 Days or More Still Accruing Interest | 15 | 0 |
Commercial Portfolio Segment | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 39,683 | 18,673 |
Current | 16,950,740 | 14,885,865 |
Loans Past Due 90 Days or More Still Accruing Interest | 125 | 0 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Software and internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 11,975 | 3,384 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4,909 | 1,061 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 18 | 0 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 856 | 853 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 12,265 | 16 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 93 | 14 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 30,116 | 5,328 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Software and internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,715 | 6,638 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 6,577 | 66 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4 | 17 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 143 | 6,537 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 65 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3 | 22 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 9,442 | 13,345 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Software and internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 59 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 51 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 15 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 125 | 0 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 961 | 5,776 |
Current | 1,831,891 | 1,537,421 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Consumer Portfolio Segment | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 285 | 343 |
Current | 238,221 | 226,369 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Consumer Portfolio Segment | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,246 | 6,119 |
Current | 2,070,112 | 1,763,790 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 961 | 4,911 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 285 | 228 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,246 | 5,139 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 865 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 115 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 980 |
Consumer Portfolio Segment | Greater Than 90 Days Past Due | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment | Greater Than 90 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment | Greater Than 90 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans and Allowance for Loan 61
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 ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | $ 167,147 | $ 182,684 |
Total unpaid principal of impaired loans | 190,184 | 213,190 |
Impaired loans for which there is a related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 166,478 | 180,592 |
Impaired loans for which there is no related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 669 | 2,092 |
Commercial Portfolio Segment | Software and internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 57,831 | 100,866 |
Total unpaid principal of impaired loans | 76,679 | 125,494 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 49,356 | 27,736 |
Total unpaid principal of impaired loans | 49,393 | 27,869 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Total unpaid principal of impaired loans | 0 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 54,341 | 51,354 |
Total unpaid principal of impaired loans | 57,222 | 55,310 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,285 | 2,065 |
Total unpaid principal of impaired loans | 1,285 | 2,604 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 417 | 520 |
Total unpaid principal of impaired loans | 417 | 520 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 163,230 | 182,541 |
Total unpaid principal of impaired loans | 184,996 | 211,797 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Software and internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 57,831 | 100,866 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 48,687 | 27,736 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 54,341 | 50,429 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,285 | 898 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 417 | 520 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 162,561 | 180,449 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Software and internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 669 | 0 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 925 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 1,167 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 669 | 2,092 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,518 | 143 |
Total unpaid principal of impaired loans | 2,789 | 1,393 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 2,399 | 0 |
Total unpaid principal of impaired loans | 2,399 | 0 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 3,917 | 143 |
Total unpaid principal of impaired loans | 5,188 | 1,393 |
Consumer Portfolio Segment | 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 | 1,518 | 143 |
Consumer Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 2,399 | 0 |
Consumer Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 3,917 | 143 |
Consumer Portfolio Segment | 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 | 0 | 0 |
Consumer Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 0 | 0 |
Consumer Portfolio Segment | 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 |
Loans and Allowance for Loan 62
Loans and Allowance for Loan Losses - Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | $ 169,359 | $ 101,643 | $ 165,062 | $ 67,991 |
Interest income on impaired loans | 990 | 0 | 1,820 | 0 |
Commercial Portfolio Segment | Software and internet | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 61,481 | 77,156 | 84,005 | 54,543 |
Interest income on impaired loans | 70 | 0 | 133 | 0 |
Commercial Portfolio Segment | Hardware | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 45,353 | 2,796 | 31,000 | 1,944 |
Interest income on impaired loans | 761 | 0 | 1,467 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 55,558 | 17,184 | 42,857 | 6,526 |
Interest income on impaired loans | 128 | 0 | 128 | 0 |
Commercial Portfolio Segment | Premium wine | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 1,291 | 1,213 | 1,834 | 1,245 |
Interest income on impaired loans | 19 | 0 | 54 | 0 |
Commercial Portfolio Segment | Other | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 3,768 | 3,132 | 4,369 | 3,498 |
Interest income on impaired loans | 6 | 0 | 21 | 0 |
Commercial Portfolio Segment | Commercial loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 167,451 | 101,481 | 164,065 | 67,756 |
Interest income on impaired loans | 984 | 0 | 1,803 | 0 |
Consumer Portfolio Segment | Real estate secured loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 584 | 162 | 282 | 180 |
Interest income on impaired loans | 0 | 0 | 0 | 0 |
Consumer Portfolio Segment | Other consumer loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 1,324 | 0 | 715 | 55 |
Interest income on impaired loans | 6 | 0 | 17 | 0 |
Consumer Portfolio Segment | Consumer loans | ||||
Financing Receivable, Impaired [Line Items] | ||||
Average impaired loans | 1,908 | 162 | 997 | 235 |
Interest income on impaired loans | $ 6 | $ 0 | $ 17 | $ 0 |
Loans and Allowance for Loan 63
Loans and Allowance for Loan Losses - Activity in Allowance for Loan Losses Broken out by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | $ 244,723 | $ 192,644 | $ 217,613 | $ 165,359 |
Charge-offs | (24,616) | (29,118) | (71,466) | (39,339) |
Recoveries | 2,084 | 662 | 8,158 | 5,289 |
Provision for loan losses | 18,950 | 33,403 | 88,624 | 66,368 |
Foreign Currency Translation Adjustments | (576) | (84) | (2,364) | (170) |
Ending Balance | 240,565 | 197,507 | 240,565 | 197,507 |
Commercial Portfolio Segment | Software and internet | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 104,229 | 106,728 | 103,045 | 80,981 |
Charge-offs | (16,526) | (24,815) | (56,742) | (26,980) |
Recoveries | 305 | 195 | 4,525 | 1,239 |
Provision for loan losses | 8,591 | 5,965 | 46,438 | 32,834 |
Foreign Currency Translation Adjustments | (261) | (7) | (928) | (8) |
Ending Balance | 96,338 | 88,066 | 96,338 | 88,066 |
Commercial Portfolio Segment | Hardware | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 23,871 | 20,472 | 23,085 | 25,860 |
Charge-offs | (3,058) | 0 | (6,559) | (4,049) |
Recoveries | 1,080 | 240 | 1,502 | 3,049 |
Provision for loan losses | 11,048 | (70) | 15,010 | (4,291) |
Foreign Currency Translation Adjustments | (336) | 0 | (433) | 73 |
Ending Balance | 32,605 | 20,642 | 32,605 | 20,642 |
Commercial Portfolio Segment | Private equity/venture capital | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 49,807 | 29,276 | 35,282 | 27,997 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for loan losses | 2,203 | 3,170 | 17,008 | 4,551 |
Foreign Currency Translation Adjustments | (67) | (4) | (347) | (106) |
Ending Balance | 51,943 | 32,442 | 51,943 | 32,442 |
Commercial Portfolio Segment | Life science/healthcare | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 41,852 | 17,233 | 36,576 | 15,208 |
Charge-offs | (28) | (117) | (3,029) | (3,336) |
Recoveries | 361 | 50 | 1,037 | 129 |
Provision for loan losses | (5,298) | 19,815 | 3,252 | 24,976 |
Foreign Currency Translation Adjustments | 161 | (22) | (788) | (18) |
Ending Balance | 37,048 | 36,959 | 37,048 | 36,959 |
Commercial Portfolio Segment | Premium wine | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 4,810 | 4,409 | 5,205 | 4,473 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 7 |
Provision for loan losses | 288 | 253 | (138) | 182 |
Foreign Currency Translation Adjustments | (9) | 0 | 22 | 0 |
Ending Balance | 5,089 | 4,662 | 5,089 | 4,662 |
Commercial Portfolio Segment | Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 9,480 | 5,894 | 4,252 | 3,253 |
Charge-offs | (5,004) | (4,186) | (5,034) | (4,974) |
Recoveries | 207 | 173 | 880 | 729 |
Provision for loan losses | 142 | 2,941 | 4,573 | 5,874 |
Foreign Currency Translation Adjustments | (4) | (49) | 150 | (109) |
Ending Balance | 4,821 | 4,773 | 4,821 | 4,773 |
Commercial Portfolio Segment | Commercial loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 234,049 | 184,012 | 207,445 | 157,772 |
Charge-offs | (24,616) | (29,118) | (71,364) | (39,339) |
Recoveries | 1,953 | 658 | 7,944 | 5,153 |
Provision for loan losses | 16,974 | 32,074 | 86,143 | 64,126 |
Foreign Currency Translation Adjustments | (516) | (82) | (2,324) | (168) |
Ending Balance | 227,844 | 187,544 | 227,844 | 187,544 |
Consumer Portfolio Segment | Consumer loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 10,674 | 8,632 | 10,168 | 7,587 |
Charge-offs | 0 | 0 | (102) | 0 |
Recoveries | 131 | 4 | 214 | 136 |
Provision for loan losses | 1,976 | 1,329 | 2,481 | 2,242 |
Foreign Currency Translation Adjustments | (60) | (2) | (40) | (2) |
Ending Balance | $ 12,721 | $ 9,963 | $ 12,721 | $ 9,963 |
Loans and Allowance for Loan 64
Loans and Allowance for Loan Losses - Allowance for Loan Losses Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | $ 50,373 | $ 57,773 |
Individually evaluated for impairment, recorded investment in loans | 167,147 | 182,684 |
Collectively evaluated for impairment, allowance for loan losses | 190,192 | 159,840 |
Collectively evaluated for impairment, allowance for loan losses | 18,945,118 | 16,559,386 |
Commercial Portfolio Segment | Software and internet | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 24,815 | 34,098 |
Individually evaluated for impairment, recorded investment in loans | 57,831 | 100,866 |
Collectively evaluated for impairment, allowance for loan losses | 71,523 | 68,947 |
Collectively evaluated for impairment, allowance for loan losses | 5,335,594 | 5,337,049 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 6,041 | 3,160 |
Individually evaluated for impairment, recorded investment in loans | 49,356 | 27,736 |
Collectively evaluated for impairment, allowance for loan losses | 26,564 | 19,925 |
Collectively evaluated for impairment, allowance for loan losses | 1,098,474 | 1,043,792 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 0 | 0 |
Individually evaluated for impairment, recorded investment in loans | 0 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 51,943 | 35,282 |
Collectively evaluated for impairment, allowance for loan losses | 7,412,238 | 5,467,577 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 18,206 | 20,230 |
Individually evaluated for impairment, recorded investment in loans | 54,341 | 51,354 |
Collectively evaluated for impairment, allowance for loan losses | 18,842 | 16,346 |
Collectively evaluated for impairment, allowance for loan losses | 1,678,576 | 1,659,288 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 128 | 90 |
Individually evaluated for impairment, recorded investment in loans | 1,285 | 2,065 |
Collectively evaluated for impairment, allowance for loan losses | 4,961 | 5,115 |
Collectively evaluated for impairment, allowance for loan losses | 870,746 | 845,230 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 42 | 52 |
Individually evaluated for impairment, recorded investment in loans | 417 | 520 |
Collectively evaluated for impairment, allowance for loan losses | 4,779 | 4,200 |
Collectively evaluated for impairment, allowance for loan losses | 476,671 | 435,270 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 49,232 | 57,630 |
Individually evaluated for impairment, recorded investment in loans | 163,230 | 182,541 |
Collectively evaluated for impairment, allowance for loan losses | 178,612 | 149,815 |
Collectively evaluated for impairment, allowance for loan losses | 16,872,299 | 14,788,206 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 1,141 | 143 |
Individually evaluated for impairment, recorded investment in loans | 3,917 | 143 |
Collectively evaluated for impairment, allowance for loan losses | 11,580 | 10,025 |
Collectively evaluated for impairment, allowance for loan losses | $ 2,072,819 | $ 1,771,180 |
Loans and Allowance for Loan 65
Loans and Allowance for Loan Losses - Credit Quality Indicators, Broken out by Portfolio Segment and Class of Financing Receivables (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 19,228,928 | $ 16,857,131 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 18,100,707 | 15,926,946 |
Performing (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 961,074 | 747,501 |
Performing Impaired (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 60,931 | 59,292 |
Nonperforming Impaired (Nonaccrual) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 106,216 | 123,392 |
Commercial Portfolio Segment | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 5,432,307 | 5,482,110 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,156,105 | 1,080,231 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 7,465,646 | 5,511,929 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,745,410 | 1,724,545 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 873,903 | 849,395 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 480,282 | 438,869 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 17,153,653 | 15,087,079 |
Commercial Portfolio Segment | Pass | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 4,752,376 | 4,933,179 |
Commercial Portfolio Segment | Pass | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 937,383 | 955,675 |
Commercial Portfolio Segment | Pass | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 7,465,003 | 5,474,929 |
Commercial Portfolio Segment | Pass | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,549,334 | 1,544,555 |
Commercial Portfolio Segment | Pass | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 855,731 | 825,058 |
Commercial Portfolio Segment | Pass | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 471,320 | 429,481 |
Commercial Portfolio Segment | Pass | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 16,031,147 | 14,162,877 |
Commercial Portfolio Segment | Performing (Criticized) | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 622,100 | 448,065 |
Commercial Portfolio Segment | Performing (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 169,366 | 96,820 |
Commercial Portfolio Segment | Performing (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 643 | 37,000 |
Commercial Portfolio Segment | Performing (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 141,735 | 128,636 |
Commercial Portfolio Segment | Performing (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 16,887 | 22,272 |
Commercial Portfolio Segment | Performing (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 8,545 | 8,868 |
Commercial Portfolio Segment | Performing (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 959,276 | 741,661 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 5,012 | 23,321 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 46,849 | 27,306 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 6,581 | 7,247 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,285 | 898 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 417 | 520 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 60,144 | 59,292 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Software and internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 52,819 | 77,545 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,507 | 430 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 47,760 | 44,107 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 1,167 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 103,086 | 123,249 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,834,370 | 1,543,340 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 240,905 | 226,712 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,075,275 | 1,770,052 |
Consumer Portfolio Segment | Pass | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,831,054 | 1,539,468 |
Consumer Portfolio Segment | Pass | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 238,506 | 224,601 |
Consumer Portfolio Segment | Pass | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,069,560 | 1,764,069 |
Consumer Portfolio Segment | Performing (Criticized) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,798 | 3,729 |
Consumer Portfolio Segment | Performing (Criticized) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 2,111 |
Consumer Portfolio Segment | Performing (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,798 | 5,840 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 787 | 0 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 787 | 0 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,518 | 143 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,612 | 0 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 3,130 | $ 143 |
Loans and Allowance for Loan 66
Loans and Allowance for Loan Losses - Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($)troubled_debt_restructuring | Dec. 31, 2015USD ($) | |
Financing Receivable, Modifications [Line Items] | |||||
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 19 | ||||
Loans modified in TDRs | $ 76,044 | $ 76,044 | $ 111,725 | ||
Modifications, Unfunded Commitments Available For Funding | 4,700 | 4,700 | |||
Loans classified as TDRs, charge-offs | 700 | $ 22,400 | 3,500 | $ 22,400 | |
Financing receivable modifications recorded investment modified during period | 12,121 | 81,797 | 17,893 | 89,845 | |
Software and internet | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 36,517 | 36,517 | 56,790 | ||
Financing receivable modifications recorded investment modified during period | 78 | 51,749 | 4,569 | 57,766 | |
Hardware | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 10,333 | 10,333 | 473 | ||
Financing receivable modifications recorded investment modified during period | 10,329 | 0 | 10,329 | 2,031 | |
Life science/healthcare | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 25,029 | 25,029 | 51,878 | ||
Financing receivable modifications recorded investment modified during period | 1,714 | 29,530 | 1,714 | 29,530 | |
Premium wine | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 2,962 | 2,962 | 2,065 | ||
Financing receivable modifications recorded investment modified during period | 0 | 0 | 495 | 0 | |
Other | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 417 | 417 | 519 | ||
Financing receivable modifications recorded investment modified during period | 0 | 518 | 0 | 518 | |
Other | Consumer Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 786 | 786 | 0 | ||
Financing receivable modifications recorded investment modified during period | 0 | 0 | 786 | 0 | |
Commercial loans | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing receivable modifications recorded investment modified during period | 12,121 | 81,797 | 17,107 | 89,845 | |
Commercial loans | Commercial Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 75,258 | 75,258 | 111,725 | ||
Consumer loans | Consumer Portfolio Segment | |||||
Financing Receivable, Modifications [Line Items] | |||||
Loans modified in TDRs | 786 | 786 | $ 0 | ||
Payment deferrals granted | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing receivable modifications recorded investment modified during period | 12,000 | $ 81,800 | 17,600 | $ 89,800 | |
Principal Forgiveness [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Financing receivable modifications recorded investment modified during period | $ 100 | $ 300 |
Loans and Allowance for Loan 67
Loans and Allowance for Loan Losses - Recorded Investment in Loans Modified in TDRs (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2015USD ($)troubled_debt_restructuring | |
Financing Receivable, Modifications [Line Items] | ||||
Modifications, Unfunded Commitments Available For Funding | $ 4,700 | $ 4,700 | ||
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 19 | |||
Financing receivable modifications recorded investment modified during period | 12,121 | $ 81,797 | 17,893 | $ 89,845 |
Loans classified as TDRs, charge-offs | 700 | 22,400 | 3,500 | 22,400 |
Financing receivable modifications recorded investment subsequently defaulted | 790 | 14,096 | 1,374 | 20,113 |
Commercial loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 12,121 | 81,797 | 17,107 | 89,845 |
Commercial Portfolio Segment | Software and internet | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 78 | 51,749 | 4,569 | 57,766 |
Financing receivable modifications recorded investment subsequently defaulted | 0 | 11,107 | 584 | 17,124 |
Commercial Portfolio Segment | Hardware | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 10,329 | 0 | 10,329 | 2,031 |
Financing receivable modifications recorded investment subsequently defaulted | 0 | 2,031 | 0 | 2,031 |
Commercial Portfolio Segment | Life science/healthcare | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 1,714 | 29,530 | 1,714 | 29,530 |
Financing receivable modifications recorded investment subsequently defaulted | 0 | 958 | 0 | 958 |
Commercial Portfolio Segment | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 0 | 518 | 0 | 518 |
Consumer Portfolio Segment | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | 0 | 0 | 786 | 0 |
Payment deferrals granted | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment modified during period | $ 12,000 | $ 81,800 | $ 17,600 | $ 89,800 |
Loans and Allowance for Loan 68
Loans and Allowance for Loan Losses Recorded Investment in Loans Modified in TDRs within Previous 12 months Subsequently Defaulted (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | $ 790 | $ 14,096 | $ 1,374 | $ 20,113 |
Premium wine | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | 0 | |||
Commercial Portfolio Segment | Software and internet | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | 0 | 11,107 | 584 | 17,124 |
Commercial Portfolio Segment | Hardware | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | 0 | 2,031 | 0 | 2,031 |
Commercial Portfolio Segment | Life science/healthcare | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | 0 | 958 | 0 | $ 958 |
Commercial Portfolio Segment | Premium wine | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing receivable modifications recorded investment subsequently defaulted | $ 790 | $ 0 | $ 790 |
Short-Term Borrowings and Lon69
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Debt Outstanding [Line Items] | ||
Short-term borrowings | $ 2,421,000 | $ 774,900,000 |
Total long-term debt | 795,971,000 | 796,702,000 |
Short-term FHLB advances | ||
Debt Outstanding [Line Items] | ||
Short-term FHLB advances | $ 0 | 638,000,000 |
Maturity | ||
Principal value at period end | $ 0 | |
Federal funds purchased | ||
Debt Outstanding [Line Items] | ||
Other short-term borrowings | 0 | 135,000,000 |
Principal value at period end | 0 | |
Other short-term borrowings | ||
Debt Outstanding [Line Items] | ||
Other short-term borrowings | 2,421,000 | 1,900,000 |
Principal value at period end | $ 2,421,000 | |
3.50% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Jan. 29, 2025 | |
Principal value at period end | $ 350,000,000 | |
Senior notes | $ 346,900,000 | 346,667,000 |
5.375% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Sep. 15, 2020 | |
Principal value at period end | $ 350,000,000 | |
Senior notes | $ 347,440,000 | 347,016,000 |
6.05% Subordinated Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Jun. 1, 2017 | |
Principal value at period end | $ 45,964,000 | |
Subordinated notes | $ 47,094,000 | 48,350,000 |
7.0% Junior Subordinated Debentures | ||
Debt Outstanding [Line Items] | ||
Maturity | Oct. 15, 2033 | |
Principal value at period end | $ 50,000,000 | |
Junior subordinated debentures | $ 54,537,000 | $ 54,669,000 |
Short-Term Borrowings and Lon70
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
3.50% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Interest rate on debt | 3.50% | 3.50% |
5.375% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Interest rate on debt | 5.375% | 5.375% |
6.05% Subordinated Notes | ||
Debt Outstanding [Line Items] | ||
Interest rate on debt | 6.05% | 6.05% |
Fair value of the interest rate swap associated with the notes | $ 1.3 | $ 2.8 |
7.0% Junior Subordinated Debentures | ||
Debt Outstanding [Line Items] | ||
Interest rate on debt | 7.00% | 7.00% |
Interest rate swaps | 6.05% Subordinated Notes | ||
Debt Outstanding [Line Items] | ||
Fair value of the interest rate swap associated with the notes | $ 1.3 | $ 2.8 |
Short-Term Borrowings and Lon71
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Debt Disclosure [Line Items] | |||||
Interest expense on debt | $ 9.7 | $ 9 | $ 28.2 | $ 25.9 | |
Short-term debt, weighted average interest rate | 0.40% | 0.40% | 0.32% | ||
Short-term FHLB advances | |||||
Debt Disclosure [Line Items] | |||||
Market value of collateral pledged | $ 1,800 | $ 1,800 | |||
Federal Reserve Bank Advances | |||||
Debt Disclosure [Line Items] | |||||
Market value of collateral pledged | $ 800 | $ 800 |
Derivative Financial Instrume72
Derivative Financial Instruments - Total Notional or Contractual Amounts, Fair Value, Collateral and Net Exposure of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Derivative [Line Items] | ||
Fair Value, Net Total | $ 155,647 | $ 144,346 |
Collateral | 2,421 | 1,900 |
Net Exposure, Net | 153,226 | 142,446 |
Derivatives designated as hedging instruments | Interest rate risks | Other assets | Interest rate swaps | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 45,964 | 45,964 |
Fair value, Assets | 1,324 | 2,768 |
Collateral | 0 | 0 |
Net Exposure, Assets | 1,324 | 2,768 |
Derivatives not designated as hedging instruments | Currency exchange risks | ||
Derivative [Line Items] | ||
Fair Value, Net exposure | 1,100 | 140 |
Collateral | 0 | 0 |
Net Exposure, Net | 1,100 | 140 |
Derivatives not designated as hedging instruments | Currency exchange risks | Other assets | Foreign exchange forwards | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 138,796 | 49,287 |
Fair value, Assets | 1,676 | 809 |
Collateral | 0 | 0 |
Net Exposure, Assets | 1,676 | 809 |
Derivatives not designated as hedging instruments | Currency exchange risks | Other liability | Foreign exchange forwards | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 53,051 | 6,586 |
Fair value, Liabilities | (576) | (669) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (576) | (669) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivative contracts | ||
Derivative [Line Items] | ||
Fair Value, Net exposure | 7,883 | 4,333 |
Collateral | 2,421 | 1,900 |
Net Exposure, Net | 5,462 | 2,433 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Equity warrant assets | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 212,802 | 210,102 |
Fair value, Assets | 145,340 | 137,105 |
Collateral | 0 | 0 |
Net Exposure, Assets | 145,340 | 137,105 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Other derivative contracts | Foreign exchange forwards | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 1,056,821 | 935,514 |
Fair value, Assets | 44,636 | 29,722 |
Collateral | 2,421 | 1,900 |
Net Exposure, Assets | 42,215 | 27,822 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Other derivative contracts | Client foreign currency options | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 243,860 | 46,625 |
Fair value, Assets | 2,750 | 706 |
Collateral | 0 | 0 |
Net Exposure, Assets | 2,750 | 706 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Other derivative contracts | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 520,081 | 422,741 |
Fair value, Assets | 8,759 | 3,973 |
Collateral | 0 | 0 |
Net Exposure, Assets | 8,759 | 3,973 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Other derivative contracts | Foreign exchange forwards | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 869,914 | 841,182 |
Fair value, Liabilities | (36,188) | (24,978) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (36,188) | (24,978) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Other derivative contracts | Client foreign currency options | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 243,860 | 46,625 |
Fair value, Liabilities | (2,750) | (706) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (2,750) | (706) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Other derivative contracts | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Notional or Contractual Amount | 558,962 | 422,741 |
Fair value, Liabilities | (9,324) | (4,384) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | $ (9,324) | $ (4,384) |
Derivative Financial Instrume73
Derivative Financial Instruments - Summary of Derivative Activity and Related Impact on Consolidated Statements of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | $ 24,875 | $ 42,295 | ||
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 | $ 580 | $ 631 | 1,778 | 1,903 |
Derivatives designated as hedging instruments | Interest rate risks | Interest rate swaps | Gains on derivative instruments, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | (3) | (8) | (33) | (22) |
Derivatives designated as hedging instruments | Interest rate risks | Interest rate risk | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | 577 | 623 | 1,745 | 1,881 |
Derivatives not designated as hedging instruments | Currency exchange risks | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | (54) | (32) | (1,155) | (41) |
Derivatives not designated as hedging instruments | Currency exchange risks | Loans | Other noninterest income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | (1,406) | 186 | (4,222) | (11,667) |
Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forwards | Gains on derivative instruments, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | 1,352 | (218) | 3,067 | 11,626 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivative contracts | Gains on derivative instruments, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | 31 | (394) | (659) | (352) |
Derivatives not designated as hedging instruments | Other derivative instruments | Foreign exchange forwards | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | 294 | 181 | (1,771) | 282 |
Derivatives not designated as hedging instruments | Other derivative instruments | Foreign exchange forwards | Gains on derivative instruments, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | (3,194) | 179 | (8,780) | 459 |
Derivatives not designated as hedging instruments | Other derivative instruments | Foreign exchange forwards | Other noninterest income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | 3,488 | 2 | 7,009 | (177) |
Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | Gains on derivative instruments, net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Unrealized gain (loss) on derivatives | $ 21,558 | $ 10,685 | $ 33,252 | $ 54,579 |
Derivative Financial Instrume74
Derivative Financial Instruments - Master Netting Arrangements (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | $ 222,864 | $ 163,374 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Assets Presented in the Statement of Financial Position | 222,864 | 163,369 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (194,385) | (150,979) |
Cash Collateral Received Subject to Master Netting Arrangements | (2,421) | (1,900) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 26,058 | 10,490 |
Gross Amounts of Recognized Liabilities | 48,838 | 30,742 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 48,838 | 30,737 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (28,924) | (15,202) |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,914 | 15,535 |
Derivative | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 59,145 | 37,983 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Assets Presented in the Statement of Financial Position | 59,145 | 37,978 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (30,666) | (25,588) |
Cash Collateral Received Subject to Master Netting Arrangements | (2,421) | (1,900) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 26,058 | 10,490 |
Gross Amounts of Recognized Liabilities | 48,838 | 30,742 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 48,838 | 30,737 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (28,924) | (15,202) |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,914 | 15,535 |
Derivative | Interest rate swaps | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 1,324 | 2,768 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 1,324 | 2,768 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (1,324) | (2,768) |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
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 | 46,312 | 30,531 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 46,312 | 30,531 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (19,377) | (18,141) |
Cash Collateral Received Subject to Master Netting Arrangements | (2,421) | (1,900) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 24,514 | 10,490 |
Gross Amounts of Recognized Liabilities | 36,764 | 25,647 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 36,764 | 25,647 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (17,675) | (10,818) |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,089 | 14,829 |
Derivative | Client foreign currency options | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 2,750 | 711 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Assets Presented in the Statement of Financial Position | 2,750 | 706 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (1,246) | (706) |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 1,504 | 0 |
Gross Amounts of Recognized Liabilities | 2,750 | 711 |
Gross Amounts offset in the Statement of Financial Position | 0 | (5) |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 2,750 | 706 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (1,925) | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 825 | 706 |
Derivative | Client interest rate derivatives | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 8,759 | 3,973 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 8,759 | 3,973 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (8,719) | (3,973) |
Cash Collateral Received Subject to Master Netting Arrangements | 0 | 0 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 40 | 0 |
Gross Amounts of Recognized Liabilities | 9,324 | 4,384 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 9,324 | 4,384 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (9,324) | (4,384) |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 0 | 0 |
Reverse Repurchase Securities Borrowing And Similar Arrangements | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 163,719 | 125,391 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Net Amounts of Assets Presented in the Statement of Financial Position | 163,719 | 125,391 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (163,719) | (125,391) |
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 75
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Other Noninterest Income [Line Items] | ||||
Fund management fees | $ 5,231 | $ 4,074 | $ 14,149 | $ 11,657 |
Service-based fee income | 2,029 | 1,931 | 6,270 | 6,450 |
Other (3) | 11,350 | 4,884 | 19,711 | 16,052 |
Total other noninterest income | 20,692 | 11,077 | 42,917 | 22,315 |
Client Instruments | ||||
Other Noninterest Income [Line Items] | ||||
(Losses) gains on revaluation of internal foreign currency instruments, net (2) | 3,488 | 2 | 7,009 | (177) |
Internal Instruments | ||||
Other Noninterest Income [Line Items] | ||||
(Losses) gains on revaluation of internal foreign currency instruments, net (2) | $ (1,406) | $ 186 | $ (4,222) | $ (11,667) |
Other Noninterest Income and 76
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Other Income and Expenses [Abstract] | ||||
Lending and other client related processing costs | $ 5,885 | $ 3,608 | $ 13,721 | $ 10,861 |
Telephone | 2,460 | 2,224 | 7,109 | 6,727 |
Data processing services | 2,137 | 2,083 | 6,353 | 5,274 |
Dues and publications | 809 | 521 | 2,258 | 1,803 |
Postage and supplies | 598 | 728 | 2,172 | 2,220 |
Other | 3,644 | 5,106 | 12,679 | 15,216 |
Total other noninterest expense | $ 15,533 | $ 14,270 | $ 44,292 | $ 42,101 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2016Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment Reporting - Segment Inf
Segment Reporting - Segment Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 289,161 | $ 254,660 | $ 853,918 | $ 737,356 |
Provision for loan losses | (18,950) | (33,403) | (88,624) | (66,368) |
Noninterest income | 144,140 | 108,477 | 343,050 | 358,288 |
Noninterest expense | (221,827) | (184,755) | (626,212) | (569,408) |
Income before income tax expense | 192,524 | 144,979 | 482,132 | 459,868 |
Total average loans, net of unearned income | 18,647,194 | 14,916,652 | 17,955,497 | 14,431,785 |
Total average assets | 43,451,329 | 42,014,220 | 43,669,716 | 39,906,689 |
Total average deposits | 37,909,754 | 37,383,067 | 38,443,990 | 35,413,353 |
Global Commercial Bank | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 262,484 | 217,932 | 773,342 | 625,611 |
Provision for loan losses | (16,974) | (32,074) | (86,143) | (64,126) |
Noninterest income | 79,226 | 68,517 | 231,295 | 197,740 |
Noninterest expense | (159,429) | (137,637) | (461,058) | (421,425) |
Income before income tax expense | 165,307 | 116,738 | 457,436 | 337,800 |
Total average loans, net of unearned income | 16,357,099 | 13,047,507 | 15,769,964 | 12,721,972 |
Total average assets | 40,829,515 | 39,688,677 | 41,021,311 | 37,449,533 |
Total average deposits | 36,484,125 | 36,151,235 | 37,002,027 | 34,124,748 |
SVB Private Bank | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 13,298 | 11,667 | 40,508 | 32,499 |
Provision for loan losses | (1,976) | (1,329) | (2,481) | (2,242) |
Noninterest income | 664 | 506 | 2,053 | 1,498 |
Noninterest expense | (3,122) | (2,761) | (9,481) | (8,869) |
Income before income tax expense | 8,864 | 8,083 | 30,599 | 22,886 |
Total average loans, net of unearned income | 2,074,982 | 1,669,858 | 1,978,175 | 1,529,095 |
Total average assets | 2,091,244 | 1,664,602 | 1,986,215 | 1,527,339 |
Total average deposits | 1,115,446 | 1,041,773 | 1,120,575 | 1,125,345 |
SVB Capital | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 1 | 1 | (51) | 3 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Noninterest income | 30,619 | 17,332 | 44,492 | 57,919 |
Noninterest expense | (3,924) | (3,745) | (11,521) | (10,935) |
Income before income tax expense | 26,696 | 13,588 | 32,920 | 46,987 |
Total average loans, net of unearned income | 0 | 0 | 0 | 0 |
Total average assets | 325,321 | 334,045 | 334,328 | 335,136 |
Total average deposits | 0 | 0 | 0 | 0 |
Other Items | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 13,378 | 25,060 | 40,119 | 79,243 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Noninterest income | 33,631 | 22,122 | 65,210 | 101,131 |
Noninterest expense | (55,352) | (40,612) | (144,152) | (128,179) |
Income before income tax expense | (8,343) | 6,570 | (38,823) | 52,195 |
Total average loans, net of unearned income | 215,113 | 199,287 | 207,358 | 180,718 |
Total average assets | 205,249 | 326,896 | 327,862 | 594,681 |
Total average deposits | $ 310,183 | $ 190,059 | $ 321,388 | $ 163,260 |
Segment Reporting - Segment I79
Segment Reporting - Segment Information (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Global Commercial Bank | ||||
Segment Reporting Information [Line Items] | ||||
Depreciation and amortization | $ 6.4 | $ 4.9 | $ 18.3 | $ 14.9 |
Off-Balance Sheet Arrangement80
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary Information Related to Commitments to Extend Credit (Excluding Letters of Credit) (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ||
Fixed interest rate commitments | $ 1,377,647 | $ 1,312,734 |
Variable interest rate commitments | 13,262,927 | 12,822,461 |
Total loan commitments available for funding | 14,640,574 | 14,135,195 |
Commercial and standby letters of credit | 1,656,512 | 1,479,164 |
Total unfunded credit commitments | 16,297,086 | 15,614,359 |
Commitments unavailable for funding | 2,008,689 | 2,026,532 |
Maximum lending limits for accounts receivable factoring arrangements | 856,096 | 1,006,404 |
Reserve for unfunded credit commitments | $ 35,924 | $ 34,415 |
Off-Balance Sheet Arrangement81
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary of Commercial and Standby Letters of Credit (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | $ 1,592,167 | |
Expires After One Year | 64,345 | |
Total Amount Outstanding | 1,656,512 | $ 1,479,164 |
Maximum Amount of Future Payments | 1,656,512 | |
Financial standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 1,489,185 | |
Expires After One Year | 49,744 | |
Total Amount Outstanding | 1,538,929 | |
Maximum Amount of Future Payments | 1,538,929 | |
Performance standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 94,872 | |
Expires After One Year | 14,601 | |
Total Amount Outstanding | 109,473 | |
Maximum Amount of Future Payments | 109,473 | |
Commercial letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 8,110 | |
Expires After One Year | 0 | |
Total Amount Outstanding | 8,110 | |
Maximum Amount of Future Payments | $ 8,110 |
Off-Balance Sheet Arrangement82
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary of Commercial and Standby Letters of Credit (Additional Information) (Detail) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Venture capital and private equity fund investments | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to invest, period from the inception of the fund | 10 years | |
Call unrestricted, percentage of committed capital | 100.00% | |
Venture capital and private equity fund investments | Lower Limit | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Expected commitment period to invest in venture capital and private equity funds (in years) | 5 years | |
Venture capital and private equity fund investments | Upper Limit | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Expected commitment period to invest in venture capital and private equity funds (in years) | 7 years | |
Standby Letter of Credit | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Deferred fees | $ 10 | $ 10 |
Collateral in the form of cash | $ 747 |
Off-Balance Sheet Arrangement83
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Total Capital Commitments, Unfunded Capital Commitments, and Our Ownership in Each Fund (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | $ 5,309 |
SVB Strategic Investors Fund, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | 1,338 |
SVB Capital Preferred Return Fund, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | 2,006 |
SVB Capital—NT Growth Partners, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | 1,965 |
Parent Company | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | 470,254 |
SVBFG Unfunded Commitments | 19,366 |
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 |
SVBFG Unfunded Commitments | $ 162 |
SVBFG Ownership of each Fund | 5.10% |
Parent Company | SVB Capital Shanghai Yangpu Venture Capital Fund | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | $ 874 |
SVBFG Unfunded Commitments | $ 0 |
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 | $ 1,275 |
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 | $ 2,325 |
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 | 142 |
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 |
SVBFG Unfunded Commitments | $ 0 |
SVBFG Ownership of each Fund | 58.20% |
Parent Company | Debt funds | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | $ 58,493 |
SVBFG Unfunded Commitments | 0 |
Parent Company | Other fund investments | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | 298,937 |
SVBFG Unfunded Commitments | $ 12,114 |
Off-Balance Sheet Arrangement84
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Total Capital Commitments, Unfunded Capital Commitments, and Our Ownership in Each Fund (Additional Information) (Detail) - Venture capital and private equity fund investments - Investment | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Other fund investments | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Number of other funds with investment commitments | 265 | |
Other fund investments | Upper Limit | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 5.00% | |
Fair value accounting | Other private equity fund | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 58.20% | 58.20% |
Fair value accounting | Direct ownership interest | SVB Capital Partners II, LP | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 1.30% | |
Fair value accounting | Direct ownership interest | Other private equity fund | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 41.50% | |
Fair value accounting | Indirect ownership interest | SVB Capital Partners II, LP | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 3.80% | |
Fair value accounting | Indirect ownership interest | Other private equity fund | SVB Capital Preferred Return Fund, LP | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 4.10% | |
Fair value accounting | Indirect ownership interest | Other private equity fund | SVB Capital—NT Growth Partners, LP | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 12.60% |
Off-Balance Sheet Arrangement85
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Remaining Unfunded Commitments to Venture Capital or Private Equity Funds by our Consolidated Managed Funds (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 5,309 |
SVB Strategic Investors Fund, LP | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | 1,338 |
SVB Capital Preferred Return Fund, LP | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | 2,006 |
SVB Capital—NT Growth Partners, LP | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 1,965 |
Income Taxes (Detail)
Income Taxes (Detail) $ in Millions | Sep. 30, 2016USD ($) |
Income Tax Disclosure [Abstract] | |
Unrecognized tax benefits | $ 3.1 |
Income tax reduction from recognized tax benefit | $ 2 |
Fair Value of Financial Instr87
Fair Value of Financial Instruments - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 12,665,697 | $ 16,380,748 |
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 | 1,324 | 2,768 |
Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 145,340 | 137,105 |
Fair value accounting | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 579 | 548 |
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 | 141,841 | 152,237 |
Fair value accounting | Other venture capital investments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 2,040 | 2,040 |
U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 8,939,627 | 11,678,035 |
U.S. agency debentures | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,126,572 | 2,690,029 |
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 | 1,092,289 | 1,399,279 |
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 | 504,487 | 607,936 |
Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 2,722 | $ 5,469 |
Level 3 | Equity warrant asset, public portfolio | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Sales restrictions discount rate | 11.70% | 18.00% |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 12,665,697 | $ 16,380,748 |
Total assets | 13,014,642 | 16,710,656 |
Total liabilities | 48,838 | 30,737 |
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 | 1,324 | 2,768 |
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 | 39,514 | 26,353 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forward and option contracts [Domain] | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 49,062 | 31,237 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 145,340 | 137,105 |
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 | 8,759 | 3,973 |
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 | 9,324 | 4,384 |
Fair Value, Measurements, Recurring | Fair value accounting | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 144,460 | 154,825 |
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 | 141,841 | 152,237 |
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 | 2,040 | 2,040 |
Fair Value, Measurements, Recurring | Fair value accounting | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 579 | 548 |
Fair Value, Measurements, Recurring | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 8,939,627 | 11,678,035 |
Fair Value, Measurements, Recurring | U.S. agency debentures | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,126,572 | 2,690,029 |
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 | 1,092,289 | 1,399,279 |
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 | 504,487 | 607,936 |
Fair Value, Measurements, Recurring | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,722 | 5,469 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 8,940,008 | 11,682,552 |
Total assets | 8,940,587 | 11,683,100 |
Total liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Noncontrolling Interests | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 500 | 400 |
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 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 | Currency exchange risks | Foreign exchange forward and option contracts [Domain] | 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 | Equity warrant assets | 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 | 579 | 548 |
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 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 579 | 548 |
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 | 8,939,627 | 11,678,035 |
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 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 | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 381 | 4,517 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 3,725,689 | 4,698,196 |
Total assets | 3,786,954 | 4,738,111 |
Total liabilities | 48,838 | 30,737 |
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 | 1,324 | 2,768 |
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 | 39,514 | 26,353 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Currency exchange risks | Foreign exchange forward and option contracts [Domain] | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 49,062 | 31,237 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 2,120 | 1,937 |
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 | 8,759 | 3,973 |
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 | 9,324 | 4,384 |
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 | 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 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 0 | 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 | 0 |
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 | 2,126,572 | 2,690,029 |
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 | 1,092,289 | 1,399,279 |
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 | 504,487 | 607,936 |
Fair Value, Measurements, Recurring | Level 2 | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,341 | 952 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 0 | 0 |
Total assets | 145,260 | 137,208 |
Total liabilities | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Noncontrolling Interests | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 1,800 | 1,800 |
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 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 | Currency exchange risks | Foreign exchange forward and option contracts [Domain] | 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 | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 143,220 | 135,168 |
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 | 2,040 | 2,040 |
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 | 2,040 | 2,040 |
Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | Other securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 0 | 0 |
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 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 | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 0 | $ 0 |
Lower Limit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Sales restrictions discount rate | 10.00% | |
Lower Limit | Level 3 | Equity warrant asset, public portfolio | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Sales restrictions discount rate | 10.00% | |
Upper Limit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Sales restrictions discount rate | 20.00% | |
Upper Limit | Level 3 | Equity warrant asset, public portfolio | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Sales restrictions discount rate | 20.00% |
Fair Value of Financial Instr88
Fair Value of Financial Instruments - Additional Information about Level 3 Assets Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | $ 129,851 | $ 123,427 | $ 137,208 | $ 117,989 |
Total Realized and Unrealized Gains (Losses) Included in Income | 21,096 | 11,566 | 33,094 | 55,030 |
Sales | (10,686) | (6,215) | (34,280) | (48,406) |
Issuances | 5,251 | 3,556 | 9,842 | 8,856 |
Distributions and Other Settlements | 0 | (15) | 25 | (15) |
Transfers Out of Level 3 | (252) | (486) | (629) | (1,621) |
Ending Balance | 145,260 | 131,833 | 145,260 | 131,833 |
Equity warrant assets | Other assets | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 127,811 | 120,037 | 135,168 | 114,698 |
Total Realized and Unrealized Gains (Losses) Included in Income | 21,092 | 11,551 | 33,115 | 54,884 |
Sales | (10,682) | (6,215) | (34,276) | (48,374) |
Issuances | 5,251 | 3,556 | 9,842 | 8,856 |
Distributions and Other Settlements | 0 | 0 | 0 | 0 |
Transfers Out of Level 3 | (252) | (486) | (629) | (1,621) |
Ending Balance | 143,220 | 128,443 | 143,220 | 128,443 |
Non-marketable securities | Fair value accounting | Other venture capital investments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Beginning Balance | 2,040 | 3,390 | 2,040 | 3,291 |
Total Realized and Unrealized Gains (Losses) Included in Income | 4 | 15 | (21) | 146 |
Sales | (4) | 0 | (4) | (32) |
Issuances | 0 | 0 | 0 | 0 |
Distributions and Other Settlements | 0 | (15) | 25 | (15) |
Transfers Out of Level 3 | 0 | 0 | 0 | 0 |
Ending Balance | $ 2,040 | $ 3,390 | $ 2,040 | $ 3,390 |
Fair Value of Financial Instr89
Fair Value of Financial Instruments - Unrealized Gains Included in Earnings Attributable to Level 3 Assets Held (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
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 | $ 15,785 | $ 9,115 | $ 23,144 | $ 21,755 |
Unrealized gains attributable to noncontrolling interests | 0 | 0 | 0 | 141 |
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 | 15,785 | 9,115 | 23,144 | 21,597 |
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 | $ 0 | $ 0 | $ 0 | $ 158 |
Fair Value of Financial Instr90
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Fair value | $ 145,260 | $ 137,208 | $ 129,851 | $ 131,833 | $ 123,427 | $ 117,989 |
Level 3 | Other venture capital investments | Fair value accounting | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Fair value | $ 2,040 | $ 2,040 | ||||
Valuation Technique | Private company equity pricing | Private company equity pricing | ||||
Level 3 | Equity warrant asset, public portfolio | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Fair value | $ 19,367 | $ 1,786 | ||||
Valuation Technique | Modified Black-Scholes option pricing model | Modified Black-Scholes option pricing model | ||||
Sales restrictions discount rate | 11.70% | 18.00% | ||||
Volatility | 36.10% | 38.10% | ||||
Risk-Free interest rate | 1.20% | 2.10% | ||||
Level 3 | Equity warrant assets, private portfolio | Other assets | ||||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||||
Fair value | $ 123,853 | $ 133,382 | ||||
Valuation Technique | Modified Black-Scholes option pricing model | Modified Black-Scholes option pricing model | ||||
Volatility | 36.60% | 36.00% | ||||
Risk-Free interest rate | 0.80% | 1.10% | ||||
Marketability discount | 17.50% | 16.60% | ||||
Remaining life assumption | 45.00% | 45.00% |
Fair Value of Financial Instr91
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Additional Information) (Detail) | 9 Months Ended |
Sep. 30, 2016 | |
Equity warrant assets, private portfolio | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Weighted average contractual remaining term | 5 years 11 months 6 days |
Estimated remaining life | 2 years 8 months 1 day |
Lower Limit | Level 3 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Sales restrictions discount rate | 10.00% |
Fair value inputs, sales restriction, period | 3 months |
Lower Limit | Level 3 | Equity warrant asset, public portfolio | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Sales restrictions discount rate | 10.00% |
Fair value inputs, sales restriction, period | 3 months |
Upper Limit | Level 3 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Sales restrictions discount rate | 20.00% |
Fair value inputs, sales restriction, period | 6 months |
Upper Limit | Level 3 | Equity warrant asset, public portfolio | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Sales restrictions discount rate | 20.00% |
Fair value inputs, sales restriction, period | 6 months |
Fair Value of Financial Instr92
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Debt Disclosure [Line Items] | ||||
Investments transferred out of Level 3 | $ 252 | $ 486 | $ 629 | $ 1,621 |
Fair Value of Financial Instr93
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments not Carried at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity securities | $ 7,885,333 | $ 8,758,622 |
Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | 638,000 |
Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | 135,000 |
Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 2,421 | 1,900 |
3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 346,900 | 346,667 |
5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,440 | 347,016 |
6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 47,094 | 48,350 |
7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,537 | 54,669 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,521,319 | 1,503,257 |
Held-to-maturity securities | 7,791,949 | 8,790,963 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 124,955 | 114,795 |
Non-marketable securities (cost and equity method accounting) measured at net asset value (1) | 249,289 | 250,970 |
Net commercial loans | 16,807,685 | 14,763,302 |
Net consumer loans | 2,064,015 | 1,761,155 |
FHLB and Federal Reserve Bank stock | 57,466 | 56,991 |
Accrued interest receivable | 99,263 | 107,604 |
Non-maturity deposits (2) | 38,137,660 | 39,072,297 |
Time deposits | 51,756 | 70,479 |
Accrued interest payable | 4,886 | 12,058 |
Commitments to extend credit | 0 | 0 |
Carrying Amount | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 638,000 | |
Carrying Amount | Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 135,000 | |
Carrying Amount | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 2,421 | 1,900 |
Carrying Amount | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 346,900 | 346,667 |
Carrying Amount | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,440 | 347,016 |
Carrying Amount | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 47,094 | 48,350 |
Carrying Amount | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,537 | 54,669 |
Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,521,319 | 1,503,257 |
Held-to-maturity securities | 7,885,333 | 8,758,622 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 134,174 | 117,172 |
Non-marketable securities (cost and equity method accounting) measured at net asset value (1) | 353,606 | 364,799 |
Net commercial loans | 17,089,586 | 14,811,588 |
Net consumer loans | 2,102,435 | 1,737,960 |
FHLB and Federal Reserve Bank stock | 57,466 | 56,991 |
Accrued interest receivable | 99,263 | 107,604 |
Non-maturity deposits (2) | 38,137,660 | 39,072,297 |
Time deposits | 51,654 | 70,347 |
Accrued interest payable | 4,886 | 12,058 |
Commitments to extend credit | 21,232 | 26,483 |
Estimated Fair Value | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 638,000 | |
Estimated Fair Value | Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 135,000 | |
Estimated Fair Value | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 2,421 | 1,900 |
Estimated Fair Value | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 355,681 | 333,648 |
Estimated Fair Value | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 390,313 | 384,216 |
Estimated Fair Value | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 48,534 | 49,820 |
Estimated Fair Value | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 53,608 | 52,905 |
Estimated Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,521,319 | 1,503,257 |
Held-to-maturity securities | 0 | 0 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 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 (2) | 38,137,660 | 39,072,297 |
Time deposits | 0 | 0 |
Accrued interest payable | 0 | 0 |
Commitments to extend credit | 0 | 0 |
Estimated Fair Value | Level 1 | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 638,000 | |
Estimated Fair Value | Level 1 | Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 135,000 | |
Estimated Fair Value | Level 1 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 2,421 | 1,900 |
Estimated Fair Value | Level 1 | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 0 | |
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 | 0 |
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 |
Held-to-maturity securities | 7,885,333 | 8,758,622 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 0 | 0 |
Net commercial loans | 0 | 0 |
Net consumer loans | 0 | 0 |
FHLB and Federal Reserve Bank stock | 0 | 0 |
Accrued interest receivable | 99,263 | 107,604 |
Non-maturity deposits (2) | 0 | 0 |
Time deposits | 51,654 | 70,347 |
Accrued interest payable | 4,886 | 12,058 |
Commitments to extend credit | 0 | 0 |
Estimated Fair Value | Level 2 | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | |
Estimated Fair Value | Level 2 | Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | |
Estimated Fair Value | Level 2 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | 0 |
Estimated Fair Value | Level 2 | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 355,681 | 333,648 |
Estimated Fair Value | Level 2 | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 390,313 | 384,216 |
Estimated Fair Value | Level 2 | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 48,534 | 49,820 |
Estimated Fair Value | Level 2 | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 53,608 | 52,905 |
Estimated Fair Value | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 134,174 | 117,172 |
Net commercial loans | 17,089,586 | 14,811,588 |
Net consumer loans | 2,102,435 | 1,737,960 |
FHLB and Federal Reserve Bank stock | 57,466 | 56,991 |
Accrued interest receivable | 0 | 0 |
Non-maturity deposits (2) | 0 | 0 |
Time deposits | 0 | 0 |
Accrued interest payable | 0 | 0 |
Commitments to extend credit | 21,232 | 26,483 |
Estimated Fair Value | Level 3 | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | |
Estimated Fair Value | Level 3 | Federal funds purchased | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | |
Estimated Fair Value | Level 3 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | 0 |
Estimated Fair Value | Level 3 | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 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 | 0 |
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 |
Fair Value of Financial Instr94
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments not Carried at Fair Value (Additional Information) (Detail) - USD ($) $ in Millions | Sep. 30, 2016 | Dec. 31, 2015 |
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 | $ 1.3 | $ 2.8 |
Fair Value of Financial Instr95
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Investments and Remaining Unfunded Commitments for Each Major Category of Investments (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | $ 391,130 |
Fair Value | 495,447 |
Unfunded Commitments | 22,455 |
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 | 141,841 |
Fair Value | 141,841 |
Unfunded Commitments | 5,309 |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 84,904 |
Fair Value | 84,904 |
Unfunded Commitments | 4,954 |
Non-marketable securities | Equity method accounting | Debt funds | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 18,971 |
Fair Value | 20,217 |
Unfunded Commitments | 0 |
Non-marketable securities | Equity method accounting | Other investments | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 30,301 |
Fair Value | 30,297 |
Unfunded Commitments | 886 |
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 | 115,113 |
Fair Value | 218,188 |
Unfunded Commitments | $ 11,306 |
Fair Value of Financial Instr96
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Investments and Remaining Unfunded Commitments for Each Major Category of Investments (Textual) (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 495,447 |
Unfunded Commitments | 22,455 |
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 | 141,841 |
Unfunded Commitments | $ 5,309 |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | Lower Limit | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Period distributions from fund investments to be received | 10 years |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | Upper Limit | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Period distributions from fund investments to be received | 13 years |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | Noncontrolling Interests | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 101,000 |
Unfunded Commitments | 4,000 |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 84,904 |
Unfunded Commitments | $ 4,954 |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | Lower Limit | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Period distributions from fund investments to be received | 10 years |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | Upper Limit | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Period distributions from fund investments to be received | 13 years |