Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 30, 2017 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
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 | 52,495,224 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and cash equivalents | $ 3,795,679 | $ 2,545,750 |
Available-for-sale securities, at fair value (cost of $12,360,744 and $12,588,783, respectively) | 12,384,007 | 12,620,411 |
Held-to-maturity securities, at cost (fair value of $8,567,817 and $8,376,138, respectively) | 8,615,695 | 8,426,998 |
Non-marketable and other securities | 635,550 | 622,552 |
Total investment securities | 21,635,252 | 21,669,961 |
Loans, net of unearned income | 20,427,451 | 19,899,944 |
Allowance for loan losses | (243,130) | (225,366) |
Net loans | 20,184,321 | 19,674,578 |
Premises and equipment, net of accumulated depreciation and amortization | 122,304 | 120,683 |
Accrued interest receivable and other assets | 675,783 | 672,688 |
Total assets | 46,413,339 | 44,683,660 |
Liabilities: | ||
Noninterest-bearing demand deposits | 33,587,934 | 31,975,457 |
Interest-bearing deposits | 7,491,766 | 7,004,411 |
Total deposits | 41,079,700 | 38,979,868 |
Short-term borrowings | 5,163 | 512,668 |
Other liabilities | 629,555 | 618,383 |
Long-term debt | 795,465 | 795,704 |
Total liabilities | 42,509,883 | 40,906,623 |
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; 52,427,709 shares and 52,254,074 shares outstanding, respectively | 52 | 52 |
Additional paid-in capital | 1,268,507 | 1,242,741 |
Retained earnings | 2,477,814 | 2,376,331 |
Accumulated other comprehensive income | 17,958 | 23,430 |
Total SVBFG stockholders’ equity | 3,764,331 | 3,642,554 |
Noncontrolling interests | 139,125 | 134,483 |
Total equity | 3,903,456 | 3,777,037 |
Total liabilities and total equity | $ 46,413,339 | $ 44,683,660 |
Interim Consolidated Balance S3
Interim Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Available-for-sale securities, cost | $ 12,360,744 | $ 12,588,783 |
Held-to-maturity securities | $ 8,567,817 | $ 8,376,138 |
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 | 52,427,709 | 52,254,074 |
Interim Consolidated Statements
Interim Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | |||
Interest income: | ||||
Loans | $ 227,341 | $ 197,942 | ||
Investment securities: | ||||
Taxable | 89,803 | 91,050 | ||
Non-taxable | 646 | 596 | ||
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities | 3,136 | 2,070 | ||
Total interest income | 320,926 | 291,658 | ||
Interest expense: | ||||
Deposits | 1,717 | 1,188 | ||
Borrowings | 9,216 | 9,049 | ||
Total interest expense | 10,933 | 10,237 | ||
Net interest income | 309,993 | 281,421 | ||
Provision for credit losses (1) | 29,679 | 33,341 | ||
Provision for credit losses | [1] | 30,734 | 33,475 | |
Net interest income after provision for credit losses | 279,259 | 247,946 | ||
Noninterest income: | ||||
Gains (losses) on investment securities, net | 15,970 | (4,684) | ||
Gains and losses on equity warrant assets | [2] | 6,690 | 6,606 | |
Foreign exchange fees | 26,247 | 26,966 | ||
Credit card fees | 17,730 | 15,507 | ||
Deposit service charges | 13,975 | 12,672 | ||
Client investment fees | 9,026 | 7,995 | ||
Lending related fees | 8,961 | 7,813 | ||
Letters of credit and standby letters of credit fees | 6,639 | 5,589 | ||
Other (2) | [2] | 12,421 | 7,670 | |
Total noninterest income | 117,659 | 86,134 | ||
Noninterest expense: | ||||
Compensation and benefits | 147,176 | 122,262 | ||
Professional services | 25,419 | 19,000 | ||
Premises and equipment | 15,858 | 14,984 | ||
Business development and travel | 9,195 | 12,246 | ||
Net occupancy | 11,651 | 10,035 | ||
FDIC and state assessments | 8,682 | 6,927 | ||
Correspondent bank fees | 3,445 | 3,652 | ||
Other | 16,207 | 14,793 | ||
Total noninterest expense (1) | [1] | 237,633 | 203,899 | |
Income before income tax expense | 159,285 | 130,181 | ||
Income tax expense (3) | 51,405 | [3] | 53,584 | |
Net income before noncontrolling interests | 107,880 | 76,597 | ||
Net (income) loss attributable to noncontrolling interests | (6,397) | 2,577 | ||
Net income available to common stockholders (3) | $ 101,483 | [3] | $ 79,174 | |
Earnings per common share—basic (dollars per share) | $ 1.94 | [3] | $ 1.53 | |
Earnings per common share—diluted (dollars per share) | $ 1.91 | [3] | $ 1.52 | |
[1] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported as a component of noninterest expense. | |||
[2] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects a new line item to separately disclose net gains on equity warrant assets. In prior periods, net gains on equity warrant assets were reported as a component of gains on derivative instruments, net. We removed the line item gains on derivative instruments, net and reclassified all other gains on derivative instruments, net to other noninterest income. | |||
[3] | Included in income tax expense, net income available to common shareholders, earnings per common share-basic and earnings for common share-diluted, for the three months ended March 31, 2017, are tax benefits recognized associated with the adoption of Accounting Standards Update ("ASU") 2016-09, Improvements to Employee Share-Based Payment Accounting in the first quarter of 2017. This guidance was adopted on a prospective basis with no change to prior period amounts. |
Interim Consolidated Statement5
Interim Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income before noncontrolling interests | $ 107,880 | $ 76,597 |
Change in cumulative translation gains (losses): | ||
Foreign currency translation gains (losses) | 957 | (254) |
Related tax (expense) benefit | (390) | 104 |
Change in unrealized (losses) gains on available-for-sale securities: | ||
Unrealized holding (losses) gains | (7,757) | 170,831 |
Related tax benefit (expense) | 3,136 | (69,603) |
Reclassification adjustment for (gains) losses included in net income | (608) | 746 |
Related tax expense (benefit) | 248 | (304) |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity | (1,771) | (2,567) |
Related tax benefit | 713 | 1,033 |
Other comprehensive (loss) income, net of tax | (5,472) | 99,986 |
Comprehensive income | 102,408 | 176,583 |
Comprehensive (income) loss attributable to noncontrolling interests | (6,397) | 2,577 |
Comprehensive income attributable to SVBFG | $ 96,011 | $ 179,160 |
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, 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) | 47,921 | ||||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations | (250) | $ 0 | (250) | (250) | |||||
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 | (8,483) | (8,483) | [1] | (8,483) | |||||
Net income | 76,597 | 79,174 | 79,174 | (2,577) | |||||
Noncontrolling Interest, Period Increase (Decrease) | (2,524) | (2,524) | |||||||
Net change in unrealized gains and losses on AFS securities, net of tax | 101,670 | 101,670 | 101,670 | ||||||
Amortization of unrealized gains on securities transferred from AFS to HTM, net of tax | (1,534) | (1,534) | (1,534) | ||||||
Foreign currency translation adjustments, net of tax | (150) | (150) | (150) | ||||||
Share-based compensation, net | 8,155 | 8,155 | 8,155 | ||||||
Balance (in shares) at Mar. 31, 2016 | 51,701,312 | ||||||||
Balance at Mar. 31, 2016 | 3,511,040 | $ 52 | 1,192,782 | 2,072,820 | 115,390 | 3,381,044 | 129,996 | ||
Balance (in shares) at Dec. 31, 2016 | 52,254,074 | ||||||||
Balance at Dec. 31, 2016 | 3,777,037 | $ 52 | 1,242,741 | 2,376,331 | 23,430 | 3,642,554 | 134,483 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | 162,797 | ||||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations | 6,743 | $ 0 | 6,743 | 6,743 | |||||
Common stock issued under ESOP (in shares) | 10,838 | ||||||||
Common stock issued under ESOP | 2,094 | 2,094 | 2,094 | ||||||
Income tax effect from stock options exercised, vesting of restricted stock and other | [1] | 0 | |||||||
Net income | 107,880 | 101,483 | 101,483 | 6,397 | |||||
Noncontrolling Interest, Period Increase (Decrease) | (1,755) | (1,755) | |||||||
Net change in unrealized gains and losses on AFS securities, net of tax | (4,981) | (4,981) | (4,981) | ||||||
Amortization of unrealized gains on securities transferred from AFS to HTM, net of tax | (1,058) | (1,058) | (1,058) | ||||||
Foreign currency translation adjustments, net of tax | 567 | 567 | 567 | ||||||
Share-based compensation, net | 16,929 | 16,929 | 16,929 | ||||||
Balance (in shares) at Mar. 31, 2017 | 52,427,709 | ||||||||
Balance at Mar. 31, 2017 | $ 3,903,456 | $ 52 | $ 1,268,507 | $ 2,477,814 | $ 17,958 | $ 3,764,331 | $ 139,125 | ||
[1] | During the first quarter of 2017 we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require that all excess tax benefits and tax deficiencies associated with share-based compensation be recognized in income tax expense or benefit in the income statement. Previously, tax effects resulting from changes in the Company's share price subsequent to grant date of share-based compensation awards were recorded through additional paid-in-capital in stockholders' equity at the time of vesting and exercise. This guidance was adopted on a prospective basis with no change to prior period amounts. See Note 1—"Basis of Presentation" of the "Notes to Interim Consolidated Financial Statements (unaudited)" under Part I, Item 1 of this report for additional details. |
Interim Consolidated Statement7
Interim Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Cash flows from operating activities: | |||
Net income before noncontrolling interests | $ 107,880 | $ 76,597 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | [1] | 30,734 | 33,475 |
Changes in fair values of derivatives, net | 3,887 | 3,159 | |
Depreciation and amortization | 12,391 | 11,536 | |
Amortization of premiums and discounts on investment securities, net | 400 | 4,931 | |
Amortization of share-based compensation | 9,203 | 6,877 | |
Amortization of deferred loan fees | (23,650) | (24,042) | |
Deferred income tax benefit | (15,386) | (5,982) | |
Excess Tax Benefit from Share-based Compensation, Operating Activities | [2] | (6,063) | 0 |
Changes in other assets and liabilities: | |||
Accrued interest receivable and payable, net | (6,750) | (4,628) | |
Accounts receivable and payable, net | (1,976) | 552 | |
Income tax receivable and payable, net | 65,524 | 28,711 | |
Accrued compensation | (89,653) | (101,241) | |
Foreign exchange spot contracts, net | 30,995 | 9,541 | |
Other, net | (3,290) | 14,208 | |
Net cash provided by operating activities | 96,731 | 56,061 | |
Cash flows from investing activities: | |||
Purchases of available-for-sale securities | (595,543) | 0 | |
Proceeds from sales of available-for-sale securities | 2,078 | 1,864,396 | |
Proceeds from maturities and pay downs of available-for-sale securities | 824,551 | 364,101 | |
Purchases of held-to-maturity securities | (589,855) | (98,199) | |
Proceeds from maturities and pay downs of held-to-maturity securities | 416,206 | 351,834 | |
Purchases of non-marketable and other securities | (545) | (12,412) | |
Proceeds from sales and distributions of non-marketable and other securities | 26,950 | 9,977 | |
Net increase in loans | (519,454) | (991,939) | |
Purchases of premises and equipment | (10,599) | (13,680) | |
Net cash (used for) provided by investing activities | (446,211) | 1,474,078 | |
Cash flows from financing activities: | |||
Net increase (decrease) in deposits | 2,099,832 | (383,055) | |
Net decrease in short-term borrowings | (507,505) | (774,900) | |
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests | (1,755) | (2,524) | |
Tax effect from stock exercises (1) | [2] | 0 | (8,483) |
Proceeds from issuance of common stock, ESPP, and ESOP | 8,837 | 4,078 | |
Net cash provided by (used for) financing activities | 1,599,409 | (1,164,884) | |
Net increase in cash and cash equivalents | 1,249,929 | 365,255 | |
Cash and cash equivalents at beginning of period | 2,545,750 | 1,503,257 | |
Cash and cash equivalents at end of period | 3,795,679 | 1,868,512 | |
Cash paid during the period for: | |||
Interest | 17,956 | 17,407 | |
Income taxes | 3,304 | 35,778 | |
Noncash items during the period: | |||
Changes in unrealized gains and losses on available-for-sale securities, net of tax | (4,981) | 101,670 | |
Distributions of stock from investments | 357 | 34 | |
Equity warrant assets | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Changes in fair values of derivatives, net | $ (1,545) | $ (2,317) | |
[1] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported as a component of noninterest expense. | ||
[2] | During the first quarter of 2017 we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. This guidance was adopted on a prospective basis with no change to prior period amounts. See Note 1—"Basis of Presentation" of the "Notes to Interim Consolidated Financial Statements (unaudited)" under Part I, Item 1 of this report for additional details. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
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 a 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 (not including subsidiaries). 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 months ended March 31, 2017 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, 2016 (“ 2016 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 2016 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 allowance for unfunded credit commitments, and the recognition and measurement of income tax assets and liabilities. Principles of Consolidation and Presentation Our consolidated financial statements include the accounts of SVB Financial Group and consolidated entities. We consolidate voting entities in which we have control through voting interests or entities through which we have a controlling financial interest in a variable interest entity ("VIE"). We determine whether we have a controlling financial interest in a VIE by determining if we have: (a) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses, or (c) the right to receive the expected returns of the entity. 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. 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 also 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. We also evaluate fees paid to managers of our limited partnership investments. 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. Fee arrangements based on terms that are customary and commensurate with the services provided are deemed not to be variable interests and are, therefore, excluded. 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. Adoption of New Accounting Standards 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. We adopted this guidance on January 1, 2017 and elected to estimate the number of awards that are expected to vest which, is consistent with the previous accounting guidance. In addition, we also elected to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using the prospective transition method. Previously, tax effects resulting from changes in the Company's share price subsequent to grant date of share-based compensation awards were recorded through additional paid-in capital in stockholders' equity at the time of vesting and exercise. The adoption of the amended accounting guidance resulted in a $6.1 million reduction of income tax expense (that previously would have been reflected as additional paid-in capital), or a benefit of $0.12 per diluted common share, for the three months ended March 31, 2017. We expect the impact of this amendment will vary period to period depending on the volatility of the Company's stock price and the timing of vesting and/or settlement of awards. 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. This guidance is not applicable to financial instruments and, therefore, is not expected to impact a majority of our revenue, which is primarily net interest income. We continue to evaluate the impact of this guidance to our noninterest income and on our presentation and disclosures. 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. Upon adoption we expect to carry our cost method venture capital and private equity fund investments at fair value. The actual adjustment to opening retained earnings will depend upon the fair value of our investments at the adoption date. 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 plan to adopt the lease accounting guidance in the first quarter of 2019. 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 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, 2019. 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, primarily related to the changes to our income statement presentation of net gains on derivative instruments and provision for unfunded credit commitments have been reclassified to conform to current period presentations. |
Stockholders' Equity and EPS
Stockholders' Equity and EPS | 3 Months Ended |
Mar. 31, 2017 | |
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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) Income Statement Location 2017 2016 Reclassification adjustment for (gains) losses included in net income Gains (losses) on investment securities, net $ (608 ) $ 746 Related tax expense (benefit) Income tax expense 248 (304 ) Total reclassification adjustment for (gains) losses included in net income, net of tax $ (360 ) $ 442 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 issuable for stock options and restricted stock units outstanding under our 2006 Equity Incentive Plan 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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars and shares in thousands, except per share amounts) 2017 2016 Numerator: Net income available to common stockholders $ 101,483 $ 79,174 Denominator: Weighted average common shares outstanding-basic 52,344 51,646 Weighted average effect of dilutive securities: Stock options and ESPP 440 264 Restricted stock units 395 175 Denominator for diluted calculation 53,179 52,085 Earnings per common share: Basic $ 1.94 $ 1.53 Diluted $ 1.91 $ 1.52 The following table summarizes the weighted-average common shares excluded from the diluted EPS calculation due to the antidilutive effect for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Shares in thousands) 2017 2016 Stock options — 351 Restricted stock units 21 14 Total 21 365 |
Share-Based Compensation
Share-Based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Share-Based Compensation For the three months ended March 31, 2017 and 2016 , we recorded share-based compensation and related tax benefits as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Share-based compensation expense $ 9,203 $ 6,877 Income tax benefit related to share-based compensation expense (3,015 ) (2,117 ) Unrecognized Compensation Expense As of March 31, 2017 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Weighted Average Expected Recognition Period - in Years Stock options $ 8,005 2.27 Restricted stock units 42,706 2.50 Total unrecognized share-based compensation expense $ 50,711 Share-Based Payment Award Activity The table below provides stock option information related to the 2006 Equity Incentive Plan for the three months ended March 31, 2017 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2016 1,010,557 $ 87.24 Exercised (140,698 ) 65.76 Forfeited (1,605 ) 93.18 Outstanding at March 31, 2017 868,254 90.71 3.80 $ 82,818,255 Vested and expected to vest at March 31, 2017 848,536 90.25 3.76 81,319,775 Exercisable at March 31, 2017 442,135 76.45 2.69 48,474,704 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 $186.09 as of March 31, 2017 . The total intrinsic value of options exercised during the three months ended March 31, 2017 was $16.5 million , compared to $2.0 million for the comparable 2016 period. The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the three months ended March 31, 2017 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 670,969 $ 106.64 Granted 54,240 185.72 Vested (36,414 ) 105.65 Forfeited (9,263 ) 107.70 Nonvested at March 31, 2017 679,532 112.99 |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs March 31, 2017: Assets: Cash and cash equivalents $ 10,959 $ — $ — Non-marketable and other securities (1) 196,708 326,169 326,169 Accrued interest receivable and other assets 236 — — Total assets $ 207,903 $ 326,169 $ 326,169 Liabilities: Other liabilities (1) 387 81,650 — Total liabilities $ 387 $ 81,650 $ — December 31, 2016: Assets: Cash and cash equivalents $ 11,469 $ — $ — Non-marketable and other securities (1) 196,140 314,810 314,810 Accrued interest receivable and other assets 294 — — Total assets $ 207,903 $ 314,810 $ 314,810 Liabilities: Other liabilities (1) 517 58,095 — Total liabilities $ 517 $ 58,095 $ — (1) Included in our unconsolidated non-marketable and other securities portfolio at March 31, 2017 and December 31, 2016 are investments in qualified affordable housing projects of $132.8 million and $112.4 million , respectively, and related unfunded commitments of $81.7 million and $58.1 million , respectively. Non-marketable and other securities Our non-marketable and other securities portfolio primarily represents investments in venture capital and private equity funds, SPD Silicon Valley Bank Co., Ltd. (the Bank's joint venture bank in China ("SPD-SVB")), 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 funds management business of SVB Financial Group, which focuses primarily on venture capital investments. 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 four 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 only 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. 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 March 31, 2017 , our exposure to loss with respect to the consolidated VIEs is limited to our net assets of $207.5 million and our exposure to loss for our unconsolidated VIEs is equal to our investment in these assets of $326.2 million . |
Cash and Cash Equivalents
Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents The following table details our cash and cash equivalents at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Cash and due from banks (1) $ 3,612,954 $ 2,476,588 Securities purchased under agreements to resell (2) 178,037 64,028 Other short-term investment securities 4,688 5,134 Total cash and cash equivalents $ 3,795,679 $ 2,545,750 (1) At March 31, 2017 and December 31, 2016 , $2.4 billion and $1.1 billion , 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 $773 million and $721 million , respectively. (2) At March 31, 2017 and December 31, 2016 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $182 million an d $66 million , respectively. None of these securities were sold or repledged as of March 31, 2017 and December 31, 2016 . |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 are as follows: March 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,182,666 $ 24,878 $ (1,454 ) $ 8,206,090 U.S. agency debentures 2,066,507 12,763 (1,457 ) 2,077,813 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,661,505 2,707 (13,883 ) 1,650,329 Agency-issued collateralized mortgage obligations—variable rate 445,575 668 (662 ) 445,581 Equity securities 4,491 430 (727 ) 4,194 Total available-for-sale securities $ 12,360,744 $ 41,446 $ (18,183 ) $ 12,384,007 December 31, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,880,358 $ 30,323 $ (1,190 ) $ 8,909,491 U.S. agency debentures 2,065,535 14,443 (1,603 ) 2,078,375 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,163,017 3,046 (13,398 ) 1,152,665 Agency-issued collateralized mortgage obligations—variable rate 474,238 685 (640 ) 474,283 Equity securities 5,635 748 (786 ) 5,597 Total available-for-sale securities $ 12,588,783 $ 49,245 $ (17,617 ) $ 12,620,411 The following tables summarize our unrealized losses on our AFS securities portfolio into categories of less than 12 months, or 12 months or longer as of March 31, 2017 and December 31, 2016 : March 31, 2017 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 $ 1,377,573 $ (1,454 ) $ — $ — $ 1,377,573 $ (1,454 ) U.S. agency debentures 513,209 (1,457 ) — — 513,209 (1,457 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 843,542 (7,607 ) 214,507 (6,276 ) 1,058,049 (13,883 ) Agency-issued collateralized mortgage obligations—variable rate 179,675 (454 ) 48,464 (208 ) 228,139 (662 ) Equity securities 2,042 (727 ) — — 2,042 (727 ) Total temporarily impaired securities: (1) $ 2,916,041 $ (11,699 ) $ 262,971 $ (6,484 ) $ 3,179,012 $ (18,183 ) (1) As of March 31, 2017 , we identified a total of 189 investments that were in unrealized loss positions, of which 36 investments totaling $263.0 million with unrealized losses of $6.5 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2017 , 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 March 31, 2017 , 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. December 31, 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: U.S. Treasury securities $ 879,255 $ (1,190 ) $ — $ — $ 879,255 $ (1,190 ) U.S. agency debentures 513,198 (1,603 ) — — 513,198 (1,603 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 635,566 (6,704 ) 227,480 (6,694 ) 863,046 (13,398 ) Agency-issued collateralized mortgage obligations—variable rate 258,325 (613 ) 6,068 (27 ) 264,393 (640 ) Equity securities 3,693 (786 ) — — 3,693 (786 ) Total temporarily impaired securities (1): $ 2,290,037 $ (10,896 ) $ 233,548 $ (6,721 ) $ 2,523,585 $ (17,617 ) (1) As of December 31, 2016 , we identified a total of 174 investments that were in unrealized loss positions, of which 20 investments totaling $233.5 million with unrealized losses of $6.7 million have been in an impaired position for a period of time greater than 12 months. The following table summarizes the fixed income securities, carried at fair value, classified as available-for-sale as of March 31, 2017 by the remaining contractual principal maturities. 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. March 31, 2017 (Dollars in thousands) Total One Year After One After Five After U.S. Treasury securities $ 8,206,090 $ 2,321,436 $ 5,884,654 $ — $ — U.S. agency debentures 2,077,813 500,035 1,577,778 — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate 1,650,329 — — 622,312 1,028,017 Agency-issued collateralized mortgage obligations - variable rate 445,581 — — — 445,581 Total $ 12,379,813 $ 2,821,471 $ 7,462,432 $ 622,312 $ 1,473,598 Held-to-Maturity Securities The components of our held-to-maturity investment securities portfolio at March 31, 2017 and December 31, 2016 are as follows: March 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 641,421 $ 7,106 $ (1,948 ) $ 646,579 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 3,020,929 5,498 (16,694 ) 3,009,733 Agency-issued collateralized mortgage obligations—fixed rate 3,223,055 638 (30,595 ) 3,193,098 Agency-issued collateralized mortgage obligations—variable rate 299,257 217 (477 ) 298,997 Agency-issued commercial mortgage-backed securities 1,292,744 1,242 (11,558 ) 1,282,428 Municipal bonds and notes 138,289 295 (1,602 ) 136,982 Total held-to-maturity securities $ 8,615,695 $ 14,996 $ (62,874 ) $ 8,567,817 (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, 2016 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 622,445 $ 7,840 $ (1,198 ) $ 629,087 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,896,179 6,919 (24,526 ) 2,878,572 Agency-issued collateralized mortgage obligations—fixed rate 3,362,598 788 (31,274 ) 3,332,112 Agency-issued collateralized mortgage obligations—variable rate 312,665 176 (1,339 ) 311,502 Agency-issued commercial mortgage-backed securities 1,151,363 1,237 (7,638 ) 1,144,962 Municipal bonds and notes 81,748 8 (1,853 ) 79,903 Total held-to-maturity securities $ 8,426,998 $ 16,968 $ (67,828 ) $ 8,376,138 (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 tables summarize our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of March 31, 2017 and December 31, 2016 : March 31, 2017 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: U.S. agency debentures $ 117,916 $ (1,948 ) $ — $ — $ 117,916 $ (1,948 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,152,438 (15,863 ) 21,350 (831 ) 2,173,788 (16,694 ) Agency-issued collateralized mortgage obligations—fixed rate 2,749,432 (25,442 ) 213,674 (5,153 ) 2,963,106 (30,595 ) Agency-issued collateralized mortgage obligations—variable rate 89,927 (469 ) 3,234 (8 ) 93,161 (477 ) Agency-issued commercial mortgage-backed securities 1,106,777 (11,453 ) 14,225 (105 ) 1,121,002 (11,558 ) Municipal bonds and notes 38,086 (613 ) 33,644 (989 ) 71,730 (1,602 ) Total temporarily impaired securities (1): $ 6,254,576 $ (55,788 ) $ 286,127 $ (7,086 ) $ 6,540,703 $ (62,874 ) (1) As of March 31, 2017 , we identified a total of 478 investments that were in unrealized loss positions, of which 96 investments totaling $286.1 million with unrealized losses of $7.1 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2017 , 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 March 31, 2017 , 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. December 31, 2016 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: U.S. agency debentures $ 118,721 $ (1,198 ) $ — $ — $ 118,721 $ (1,198 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 1,801,861 (23,558 ) 21,917 (968 ) 1,823,778 (24,526 ) Agency-issued collateralized mortgage obligations—fixed rate 2,729,889 (25,723 ) 228,220 (5,551 ) 2,958,109 (31,274 ) Agency-issued collateralized mortgage obligations—variable rate 251,012 (1,339 ) — — 251,012 (1,339 ) Agency-issued commercial mortgage-backed securities 999,440 (7,494 ) 14,934 (144 ) 1,014,374 (7,638 ) Municipal bonds and notes 42,267 (877 ) 30,586 (976 ) 72,853 (1,853 ) Total temporarily impaired securities (1): $ 5,943,190 $ (60,189 ) $ 295,657 $ (7,639 ) $ 6,238,847 $ (67,828 ) (1) As of December 31, 2016 , we identified a total of 462 investments that were in unrealized loss positions, of which 85 investments totaling $295.7 million with unrealized losses of $7.6 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 on fixed income investment securities classified as held-to-maturity as of March 31, 2017 . 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. March 31, 2017 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 Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value U.S. agency debentures $ 641,421 $ 646,579 $ — $ — $ 75,459 $ 76,306 $ 565,962 $ 570,273 $ — $ — Residential mortgage-backed securities: Agency-issued mortgage-backed securities 3,020,929 3,009,733 — — 317,056 315,424 77,461 76,978 2,626,412 2,617,331 Agency-issued collateralized mortgage obligations - fixed rate 3,223,055 3,193,098 — — — — 160,700 158,587 3,062,355 3,034,511 Agency-issued collateralized mortgage obligations - variable rate 299,257 298,997 — — — — — — 299,257 298,997 Agency-issued commercial mortgage-backed securities 1,292,744 1,282,428 — — — — — — 1,292,744 1,282,428 Municipal bonds and notes 138,289 136,982 6,168 6,159 55,716 55,259 59,517 58,913 16,888 16,651 Total $ 8,615,695 $ 8,567,817 $ 6,168 $ 6,159 $ 448,231 $ 446,989 $ 863,640 $ 864,751 $ 7,297,656 $ 7,249,918 Non-marketable and Other Securities The components of our non-marketable and other investment securities portfolio at March 31, 2017 and December 31, 2016 are as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Non-marketable and other securities: Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 139,715 $ 141,649 Other venture capital investments (2) 2,040 2,040 Other securities (fair value accounting) (3) 646 753 Non-marketable securities (equity method accounting) (4): Venture capital and private equity fund investments 85,529 82,823 Debt funds 16,509 17,020 Other investments 112,665 123,514 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (5) 117,243 114,606 Other investments 28,437 27,700 Investments in qualified affordable housing projects, net (6) 132,766 112,447 Total non-marketable and other securities $ 635,550 $ 622,552 (1) The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at March 31, 2017 and December 31, 2016 (fair value accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % Strategic Investors Fund, LP $ 18,048 12.6 % $ 18,459 12.6 % Capital Preferred Return Fund, LP 59,225 20.0 57,627 20.0 Growth Partners, LP 62,442 33.0 59,718 33.0 Other private equity fund (i) — — 5,845 58.2 Total venture capital and private equity fund investments $ 139,715 $ 141,649 (i) At December 31, 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 Growth Partners, LP and an indirect ownership interest of 4.1 percent through our ownership interest of Capital Preferred Return Fund, LP. On January 3, 2017, the other private equity fund was closed resulting in an immaterial impact on the Company's financial statements for the three months ended March 31, 2017 . (2) The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage at March 31, 2017 and December 31, 2016 (fair value accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % CP I, 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 March 31, 2017 and December 31, 2016 (equity method accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: Strategic Investors Fund II, LP $ 7,540 8.6 % $ 7,720 8.6 % Strategic Investors Fund III, LP 20,188 5.9 20,449 5.9 Strategic Investors Fund IV, LP 26,342 5.0 24,530 5.0 Strategic Investors Fund V funds 12,521 Various 12,029 Various CP II, LP (i) 7,568 5.1 7,798 5.1 Other venture capital and private equity fund investments 11,370 Various 10,297 Various Total venture capital and private equity fund investments $ 85,529 $ 82,823 Debt funds: Gold Hill Capital 2008, LP (ii) $ 12,888 15.5 % $ 13,557 15.5 % Other debt funds 3,621 Various 3,463 Various Total debt funds $ 16,509 $ 17,020 Other investments: SPD Silicon Valley Bank Co., Ltd. $ 75,316 50.0 % $ 75,296 50.0 % Other investments 37,349 Various 48,218 Various Total other investments $ 112,665 $ 123,514 (i) Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investments in Strategic Investors Fund II, LP. (ii) At March 31, 2017, 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 249 and 252 funds (primarily venture capital funds) at March 31, 2017 and December 31, 2016 , 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 $117.2 million and $223.7 million , respectively, as of March 31, 2017 . The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $114.6 million and $221.7 million , respectively, as of December 31, 2016 . (6) The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments included as a component of “other liabilities” on our consolidated balance sheets at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Investments in qualified affordable housing projects, net $ 132,766 $ 112,447 Other liabilities 81,650 58,095 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Tax credits and other tax benefits recognized $ 4,692 $ 4,207 Amortization expense included in provision for income taxes (i) 3,236 3,612 (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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Gross gains on investment securities: Available-for-sale securities, at fair value (1) $ 675 $ 1,753 Non-marketable securities (fair value accounting): Venture capital and private equity fund investments 7,082 2,823 Other venture capital investments — 8 Other securities (fair value accounting) 156 63 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 3,917 1,653 Debt funds 238 900 Other investments 742 851 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments 3,159 2,338 Other investments 3,569 — Total gross gains on investment securities 19,538 10,389 Gross losses on investment securities: Available-for-sale securities, at fair value (1) (67 ) (2,499 ) Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (619 ) (7,893 ) Other venture capital investments — (38 ) Other securities (fair value accounting) (238 ) (157 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (183 ) (3,555 ) Debt funds (669 ) (45 ) Other investments (1,484 ) (644 ) Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) (112 ) (171 ) Other investments (196 ) (71 ) Total gross losses on investment securities (3,568 ) (15,073 ) Gains (losses) on investment securities, net $ 15,970 $ (4,684 ) (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 March 31, 2017 and 2016 , includes OTTI losses of $0.1 million from the declines in value for 5 of the 249 investments and $0.2 million from the declines in value for 10 of the 267 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, Allowance for Loan Losse
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments | Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments 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, data, storage, and electronics), software/internet (such as infrastructure software, applications, software services, digital content and advertising technology), 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/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 $121 million and $125 million at March 31, 2017 and December 31, 2016 , respectively, is presented in the following table: (Dollars in thousands) March 31, 2017 December 31, 2016 Commercial loans: Software/internet $ 5,458,203 $ 5,627,031 Hardware 1,097,835 1,180,398 Private equity/venture capital 8,426,831 7,691,148 Life science/healthcare 1,735,987 1,853,004 Premium wine 203,736 200,156 Other 473,918 393,551 Total commercial loans 17,396,510 16,945,288 Real estate secured loans: Premium wine (1) 672,831 678,166 Consumer loans (2) 2,012,977 1,926,968 Other 43,281 43,487 Total real estate secured loans 2,729,089 2,648,621 Construction loans 70,755 64,671 Consumer loans 231,097 241,364 Total loans, net of unearned income (3) $ 20,427,451 $ 19,899,944 (1) Included in our premium wine portfolio are gross construction loans of $103 million and $110 million at March 31, 2017 and December 31, 2016 , respectively. (2) Consumer loans secured by real estate at March 31, 2017 and December 31, 2016 were comprised of the following: (Dollars in thousands) March 31, 2017 December 31, 2016 Loans for personal residence $ 1,735,925 $ 1,655,349 Loans to eligible employees 207,420 199,291 Home equity lines of credit 69,632 72,328 Consumer loans secured by real estate $ 2,012,977 $ 1,926,968 (3) Included within our total loan portfolio are credit card loans of $242 million and $224 million at March 31, 2017 and December 31, 2016 , respectively. Credit Quality The composition of loans, net of unearned income of $121 million and $125 million at March 31, 2017 and December 31, 2016 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Commercial loans: Software/internet $ 5,458,203 $ 5,627,031 Hardware 1,097,835 1,180,398 Private equity/venture capital 8,426,831 7,691,148 Life science/healthcare 1,735,987 1,853,004 Premium wine 876,567 878,322 Other 587,954 501,709 Total commercial loans 18,183,377 17,731,612 Consumer loans: Real estate secured loans 2,012,977 1,926,968 Other consumer loans 231,097 241,364 Total consumer loans 2,244,074 2,168,332 Total loans, net of unearned income $ 20,427,451 $ 19,899,944 The following table summarizes the aging of our gross loans, broken out by portfolio segment and class of financing receivable as of March 31, 2017 and December 31, 2016 : (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 March 31, 2017: Commercial loans: Software/internet $ 26,927 $ 3,331 $ 38 $ 30,296 $ 5,350,664 $ 38 Hardware 7,406 4 20 7,430 1,071,772 20 Private equity/venture capital 33,878 3,235 — 37,113 8,399,895 — Life science/healthcare 708 20 2 730 1,743,014 2 Premium wine 3,037 1,201 — 4,238 869,106 — Other 1,684 300 — 1,984 591,996 — Total commercial loans 73,640 8,091 60 81,791 18,026,447 60 Consumer loans: Real estate secured loans 3,115 — — 3,115 2,005,869 — Other consumer loans — — — — 228,813 — Total consumer loans 3,115 — — 3,115 2,234,682 — Total gross loans excluding impaired loans 76,755 8,091 60 84,906 20,261,129 60 Impaired loans 4,888 2,207 38,353 45,448 157,168 — Total gross loans $ 81,643 $ 10,298 $ 38,413 $ 130,354 $ 20,418,297 $ 60 December 31, 2016: Commercial loans: Software/internet $ 37,087 $ 1,162 $ 6 $ 38,255 $ 5,507,575 $ 6 Hardware 5,591 36 27 5,654 1,118,065 27 Private equity/venture capital 689 — — 689 7,747,222 — Life science/healthcare 283 551 — 834 1,827,490 — Premium wine 1,003 4 — 1,007 876,185 — Other 34 300 — 334 504,021 — Total commercial loans 44,687 2,053 33 46,773 17,580,558 33 Consumer loans: Real estate secured loans 850 — — 850 1,923,266 — Other consumer loans 1,402 — — 1,402 237,353 — Total consumer loans 2,252 — — 2,252 2,160,619 — Total gross loans excluding impaired loans 46,939 2,053 33 49,025 19,741,177 33 Impaired loans 34,636 3,451 11,180 49,267 185,193 — Total gross loans $ 81,575 $ 5,504 $ 11,213 $ 98,292 $ 19,926,370 $ 33 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 March 31, 2017 and December 31, 2016 : (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 March 31, 2017: Commercial loans: Software/internet $ 123,305 $ 1,531 $ 124,836 $ 132,588 Hardware 27,531 2,002 29,533 34,307 Private equity/venture capital 346 — 346 346 Life science/healthcare 38,552 741 39,293 42,478 Premium wine 3,321 — 3,321 3,321 Other 1,659 — 1,659 1,953 Total commercial loans 194,714 4,274 198,988 214,993 Consumer loans: Real estate secured loans 1,480 — 1,480 2,768 Other consumer loans 2,148 — 2,148 2,148 Total consumer loans 3,628 — 3,628 4,916 Total $ 198,342 $ 4,274 $ 202,616 $ 219,909 December 31, 2016: Commercial loans: Software/internet $ 121,658 $ 1,090 $ 122,748 $ 129,648 Hardware 65,395 — 65,395 70,683 Private equity/venture capital — — — — Life science/healthcare 38,361 — 38,361 41,130 Premium wine 3,187 — 3,187 3,187 Other 867 — 867 867 Total commercial loans 229,468 1,090 230,558 245,515 Consumer loans: Real estate secured loans 1,504 — 1,504 2,779 Other consumer loans 2,398 — 2,398 2,398 Total consumer loans 3,902 — 3,902 5,177 Total $ 233,370 $ 1,090 $ 234,460 $ 250,692 The following table summarizes our average impaired loans, broken out by portfolio segment and class of financing receivable for the three months ended March 31, 2017 and 2016 : Three months ended March 31, Average impaired loans Interest income on impaired loans (Dollars in thousands) 2017 2016 2017 2016 Commercial loans: Software/internet $ 109,916 $ 89,367 $ 422 $ 421 Hardware 34,110 24,426 572 397 Private equity/venture capital 358 — 2 — Life science/healthcare 38,942 39,690 150 133 Premium wine 3,213 2,171 38 17 Other 1,061 3,853 4 7 Total commercial loans 187,600 159,507 1,188 975 Consumer loans: Real estate secured loans 1,488 135 — — Other consumer loans 2,148 34 8 — Total consumer loans 3,636 169 8 — Total average impaired loans $ 191,236 $ 159,676 $ 1,196 $ 975 The following tables summarize the activity relating to our allowance for loan losses for the three months ended March 31, 2017 and 2016 , broken out by portfolio segment: Three months ended March 31, 2017 (Dollars in thousands) Beginning Balance December 31, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2017 Commercial loans: Software/internet $ 97,388 $ (7,980 ) $ 1,171 $ 18,719 $ 204 $ 109,502 Hardware 31,166 (4,024 ) 267 (4,080 ) (45 ) 23,284 Private equity/venture capital 50,299 — — 6,706 73 57,078 Life science/healthcare 25,446 (1,732 ) 36 7,708 84 31,542 Premium wine 4,115 — — 226 2 4,343 Other 4,768 (294 ) 297 (390 ) (4 ) 4,377 Total commercial loans 213,182 (14,030 ) 1,771 28,889 314 230,126 Total consumer loans 12,184 — 21 790 9 13,004 Total allowance for loan losses $ 225,366 $ (14,030 ) $ 1,792 $ 29,679 $ 323 $ 243,130 Three months ended March 31, 2016 (Dollars in thousands) Beginning Balance December 31, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance March 31, 2016 Commercial loans: Software/internet $ 103,045 $ (22,161 ) $ 3,960 $ 21,632 $ 422 $ 106,898 Hardware 23,085 (1,486 ) 239 1,959 39 23,836 Private equity/venture capital 35,282 — — 8,243 161 43,686 Life science/healthcare 36,576 (2,395 ) 491 (4,303 ) (84 ) 30,285 Premium wine 5,205 — — 39 — 5,244 Other 4,252 (30 ) 74 5,145 106 9,547 Total commercial loans 207,445 (26,072 ) 4,764 32,715 644 219,496 Total consumer loans 10,168 (102 ) 49 626 12 10,753 Total allowance for loan losses $ 217,613 $ (26,174 ) $ 4,813 $ 33,341 $ 656 $ 230,249 (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 activity relating to our allowance for unfunded credit commitments for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Beginning balance $ 45,265 $ 34,415 Provision for unfunded credit commitments 1,055 134 Foreign currency translation adjustments 15 (8 ) Ending balance (1) $ 46,335 $ 34,541 (1) 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 for additional disclosures related to our commitments to extend credit. The following table summarizes the allowance for loan losses individually and collectively evaluated for impairment as of March 31, 2017 and December 31, 2016 , broken out by portfolio segment: March 31, 2017 December 31, 2016 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/internet $ 38,563 $ 124,836 $ 70,939 $ 5,333,367 $ 28,245 $ 122,748 $ 69,143 $ 5,504,283 Hardware 2,674 29,533 20,610 1,068,302 9,995 65,395 21,171 1,115,003 Private equity/venture capital 35 346 57,043 8,426,485 — — 50,299 7,691,148 Life science/healthcare 13,580 39,293 17,962 1,696,694 8,709 38,361 16,737 1,814,643 Premium wine 513 3,321 3,830 873,246 520 3,187 3,595 875,135 Other 342 1,659 4,035 586,295 233 867 4,535 500,842 Total commercial loans 55,707 198,988 174,419 17,984,389 47,702 230,558 165,480 17,501,054 Total consumer loans 1,074 3,628 11,930 2,240,446 1,123 3,902 11,061 2,164,430 Total $ 56,781 $ 202,616 $ 186,349 $ 20,224,835 $ 48,825 $ 234,460 $ 176,541 $ 19,665,484 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 2016 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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total March 31, 2017: Commercial loans: Software/internet $ 4,858,104 $ 522,856 $ 25,165 $ 99,671 $ 5,505,796 Hardware 938,269 140,933 27,464 2,069 1,108,735 Private equity/venture capital 8,436,841 167 346 — 8,437,354 Life science/healthcare 1,588,709 155,035 7,153 32,140 1,783,037 Premium wine 854,409 18,935 2,831 490 876,665 Other 573,527 20,453 357 1,302 595,639 Total commercial loans 17,249,859 858,379 63,316 135,672 18,307,226 Consumer loans: Real estate secured loans 1,997,248 11,736 — 1,480 2,010,464 Other consumer loans 228,162 651 536 1,612 230,961 Total consumer loans 2,225,410 12,387 536 3,092 2,241,425 Total gross loans $ 19,475,269 $ 870,766 $ 63,852 $ 138,764 $ 20,548,651 December 31, 2016: Commercial loans: Software/internet $ 4,924,923 $ 620,907 $ 46,143 $ 76,605 $ 5,668,578 Hardware 985,889 137,830 58,814 6,581 1,189,114 Private equity/venture capital 7,747,317 594 — — 7,747,911 Life science/healthcare 1,707,499 120,825 6,578 31,783 1,866,685 Premium wine 865,354 11,838 2,696 491 880,379 Other 480,845 23,510 464 403 505,222 Total commercial loans 16,711,827 915,504 114,695 115,863 17,857,889 Consumer loans: Real estate secured loans 1,914,512 9,604 — 1,504 1,925,620 Other consumer loans 238,256 499 786 1,612 241,153 Total consumer loans 2,152,768 10,103 786 3,116 2,166,773 Total gross loans $ 18,864,595 $ 925,607 $ 115,481 $ 118,979 $ 20,024,662 Troubled Debt Restructurings As of March 31, 2017 we had 21 TDRs with a total carrying value of $95.4 million where concessions have been granted to borrowers experiencing financial difficulties, in an attempt to maximize collection. There were $2.9 million of unfunded commitments available for funding to the clients associated with these TDRs as of March 31, 2017 . The following table summarizes our loans modified in TDRs, broken out by portfolio segment and class of financing receivables at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Loans modified in TDRs: Commercial loans: Software/internet $ 59,419 $ 52,646 Hardware 10,687 14,870 Life science/healthcare 21,561 24,176 Premium wine 3,177 3,194 Other 33 387 Total commercial loans 94,877 95,273 Consumer loans: Other consumer loans 536 786 Total consumer loans 536 786 Total $ 95,413 $ 96,059 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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Loans modified in TDRs during the period: Commercial loans: Software/internet $ 6,309 $ 10,854 Other — 505 Total commercial loans 6,309 11,359 Total consumer loans — — Total loans modified in TDRs during the period (1) $ 6,309 $ 11,359 (1) There were $6.2 million of partial charge-offs during the three months ended March 31, 2017 and $3.8 million of partial charge-offs during the three months ended March 31, 2016 . During the three months ended March 31, 2017 and 2016, new TDRs of $6.3 million and $2.4 million , respectively, were modified through payment deferrals granted to our clients. During the three months ended March 31, 2016, new TDRs of $9.0 million were modified through partial forgiveness of principal. 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 months ended March 31, 2017 . There were no loans modified in TDRs within the previous 12 months that subsequently defaulted during the three months ended March 31, 2016. Three months ended March 31, (Dollars in thousands) 2017 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Hardware $ 3,105 Total commercial loans 3,105 Consumer loans: Other consumer loans 536 Total consumer loans 536 Total TDRs modified within the previous 12 months that defaulted in the period $ 3,641 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 March 31, 2017 . |
Short-Term Borrowings and Long-
Short-Term Borrowings and Long-Term Debt | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 : Carrying Value (Dollars in thousands) Maturity Principal value at March 31, 2017 March 31, December 31, Short-term borrowings: Short-term FHLB advances $ — $ — $ 500,000 Other short-term borrowings (1) 5,163 5,163 12,668 Total short-term borrowings $ 5,163 $ 512,668 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 347,059 $ 346,979 5.375% Senior Notes September 15, 2020 350,000 347,733 347,586 6.05% Subordinated Notes (2) June 1, 2017 45,964 46,223 46,646 7.0% Junior Subordinated Debentures October 15, 2033 50,000 54,450 54,493 Total long-term debt $ 795,465 $ 795,704 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor, which includes an interest rate swap agreement related to our 6.05% Subordinated Notes. (2) At March 31, 2017 and December 31, 2016 , included in the carrying value of our 6.05% Subordinated Notes were $0.3 million and $0.8 million , respectively, related to hedge accounting associated with the notes. Interest expense related to short-term borrowings and long-term debt was $9.2 million for the three months ended March 31, 2017 and $9.0 million for the three months ended March 31, 2016 . 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 was 0.84 percent as of March 31, 2017 and 0.59 percent as of December 31, 2016. 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 March 31, 2017 , we did not have any borrowings outstanding 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 fair value of collateral pledged to the FHLB of San Francisco (comprised primarily of U.S. Treasury securities) at March 31, 2017 totaled $1.7 billion , all of which was unused and available to support additional borrowings. The fair value of collateral pledged at the discount window of the Federal Reserve Bank at March 31, 2017 totaled $0.8 billion , all of which was unused and available to support additional borrowings. |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
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 in the line item “Other” as part of 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 recorded in the line item “Other” as part of noninterest income, a component of consolidated net 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 in the line item “Other” as part of 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 2016 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 March 31, 2017 and December 31, 2016 were as follows: March 31, 2017 December 31, 2016 (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 $ 318 $ — $ 318 $ 45,964 $ 810 $ 89 $ 721 Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards Other assets 93,012 759 — 759 219,950 3,057 — 3,057 Foreign exchange forwards Other liabilities 114,317 (950 ) — (950 ) 54,338 (968 ) — (968 ) Net exposure (191 ) — (191 ) 2,089 — 2,089 Other derivative instruments: Equity warrant assets Other assets 211,327 124,233 — 124,233 211,434 131,123 — 131,123 Other derivatives: Client foreign exchange forwards Other assets 1,747,019 50,291 5,163 45,128 1,251,308 54,587 12,579 42,008 Client foreign exchange forwards Other liabilities 1,588,628 (40,346 ) — (40,346 ) 1,068,991 (43,317 ) — (43,317 ) Client foreign currency options Other assets 813,579 3,861 — 3,861 775,000 10,383 — 10,383 Client foreign currency options Other liabilities 813,579 (3,861 ) — (3,861 ) 775,000 (10,383 ) — (10,383 ) Client interest rate derivatives Other assets 669,139 10,702 — 10,702 583,511 10,110 — 10,110 Client interest rate derivatives Other liabilities 712,965 (10,592 ) — (10,592 ) 627,639 (9,770 ) — (9,770 ) Net exposure 10,055 5,163 4,892 11,610 12,579 (969 ) Net $ 134,415 $ 5,163 $ 129,252 $ 145,632 $ 12,668 $ 132,964 (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 March 31, 2017 remain at investment grade or higher and there were no material changes in their credit ratings during the three months ended March 31, 2017 . A summary of our derivative activity and the related impact on our consolidated statements of income for the three months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) Statement of income location 2017 2016 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ 554 $ 609 Changes in fair value of interest rate swaps Other noninterest income (1 ) (17 ) Net gains associated with interest rate risk derivatives $ 553 $ 592 Derivatives not designated as hedging instruments: Currency exchange risks: Gains on revaluations of internal foreign currency instruments, net Other noninterest income $ 4,108 $ 2,491 Losses on internal foreign exchange forward contracts, net Other noninterest income (3,245 ) (2,208 ) Net gains associated with internal currency risk $ 863 $ 283 Other derivative instruments: Gains on revaluations of client foreign currency instruments, net Other noninterest income $ 2,754 $ 3,653 Losses on client foreign exchange forward contracts, net Other noninterest income (2,289 ) (5,654 ) Net gains (losses) associated with client currency risk $ 465 $ (2,001 ) Net gains on equity warrant assets Gains on equity warrant assets, net $ 6,690 $ 6,607 Net losses on other derivatives Other noninterest income $ (276 ) $ (421 ) 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 March 31, 2017 and December 31, 2016 : 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 Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements Net Amount (Dollars in thousands) Financial Instruments Cash Collateral Received March 31, 2017 Derivative Assets: Interest rate swaps $ 318 $ — $ 318 $ (318 ) $ — $ — Foreign exchange forwards 51,050 — 51,050 (22,222 ) (5,163 ) 23,665 Foreign currency options 3,861 — 3,861 (563 ) — 3,298 Client interest rate derivatives 10,702 — 10,702 (10,686 ) — 16 Total derivative assets: 65,931 — 65,931 (33,789 ) (5,163 ) 26,979 Reverse repurchase, securities borrowing, and similar arrangements 178,037 — 178,037 (178,037 ) — — Total $ 243,968 $ — $ 243,968 $ (211,826 ) $ (5,163 ) $ 26,979 December 31, 2016 Derivative Assets: Interest rate swaps $ 810 $ — $ 810 $ (721 ) $ (89 ) $ — Foreign exchange forwards 57,644 — 57,644 (22,738 ) (12,579 ) 22,327 Foreign currency options 10,383 — 10,383 (8,806 ) — 1,577 Client interest rate derivatives 10,110 — 10,110 (10,091 ) — 19 Total derivative assets: 78,947 — 78,947 (42,356 ) (12,668 ) 23,923 Reverse repurchase, securities borrowing, and similar arrangements 64,028 — 64,028 (64,028 ) — — Total $ 142,975 $ — $ 142,975 $ (106,384 ) $ (12,668 ) $ 23,923 The following table summarizes our liabilities subject to enforceable master netting arrangements as of March 31, 2017 and December 31, 2016 : 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 Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements Net Amount (Dollars in thousands) Financial Instruments Cash Collateral Pledged March 31, 2017 Derivative Liabilities: Foreign exchange forwards $ 41,296 $ — $ 41,296 $ (22,246 ) $ — $ 19,050 Foreign currency options 3,861 — 3,861 (3,298 ) — 563 Client interest rate derivatives 10,592 — 10,592 (10,592 ) — — Total derivative liabilities: 55,749 — 55,749 (36,136 ) — 19,613 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 55,749 $ — $ 55,749 $ (36,136 ) $ — $ 19,613 December 31, 2016 Derivative Liabilities: Foreign exchange forwards $ 44,285 $ — $ 44,285 $ (17,964 ) $ — $ 26,321 Foreign currency options 10,383 — 10,383 (1,585 ) — 8,798 Client interest rate derivatives 9,770 — 9,770 (9,770 ) — — Total derivative liabilities: 64,438 — 64,438 (29,319 ) — 35,119 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 64,438 $ — $ 64,438 $ (29,319 ) $ — $ 35,119 |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 3 Months Ended |
Mar. 31, 2017 | |
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 months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Fund management fees $ 5,169 $ 4,620 Service-based fee income 1,895 2,092 Gains on revaluation of client foreign currency instruments, net (1) 2,754 3,653 Losses on client foreign exchange forward contracts, net (1) (2,289 ) (5,654 ) Gains on revaluation of internal foreign currency instruments, net (2) 4,108 2,491 Losses on internal foreign exchange forward contracts, net (2) (3,245 ) (2,208 ) Other (3) 4,029 2,676 Total other noninterest income $ 12,421 $ 7,670 (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. (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. (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 months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Lending and other client related processing costs $ 5,539 $ 4,295 Telephone 2,703 2,233 Data processing services 2,582 1,829 Dues and publications 795 802 Postage and supplies 749 790 Other 3,839 4,844 Total other noninterest expense $ 16,207 $ 14,793 |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2017 | |
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 credit 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 or the provision for unfunded credit commitments (included in provision for credit losses) 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 funds management business of SVBFG, which focuses primarily on venture capital investments. 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 allocations) 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 months ended March 31, 2017 and 2016 is as follows: (Dollars in thousands) Global Commercial Bank (1) SVB Private Bank SVB Capital (1) Other Items (2) Total Three months ended March 31, 2017 Net interest income $ 275,684 $ 13,610 $ — $ 20,699 $ 309,993 Provision for credit losses (28,889 ) (790 ) — (1,055 ) (30,734 ) Noninterest income 79,519 718 16,775 20,647 117,659 Noninterest expense (3) (172,374 ) (3,919 ) (3,472 ) (57,868 ) (237,633 ) Income (loss) before income tax expense (4) $ 153,940 $ 9,619 $ 13,303 $ (17,577 ) $ 159,285 Total average loans, net of unearned income $ 17,647,055 $ 2,245,317 $ — $ 176,942 $ 20,069,314 Total average assets (5) 42,888,336 2,259,018 372,876 (219,196 ) 45,301,034 Total average deposits 38,296,563 1,336,849 — 325,123 39,958,535 Three months ended March 31, 2016 Net interest income $ 256,178 $ 13,672 $ — $ 11,571 $ 281,421 Provision for credit losses (32,703 ) (638 ) — (134 ) (33,475 ) Noninterest income 74,759 627 2,453 8,295 86,134 Noninterest expense (3) (154,787 ) (3,405 ) (3,913 ) (41,794 ) (203,899 ) Income before income tax expense (4) $ 143,447 $ 10,256 $ (1,460 ) $ (22,062 ) $ 130,181 Total average loans, net of unearned income $ 14,919,735 $ 1,871,820 $ — $ 220,880 $ 17,012,435 Total average assets (5) 41,533,434 1,893,413 349,011 414,332 44,190,190 Total average deposits 37,837,645 1,130,736 — 299,748 39,268,129 (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 $6.1 million and $5.7 million for the three months ended March 31, 2017 and 2016 , 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 | 3 Months Ended |
Mar. 31, 2017 | |
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, to varying degrees, elements of credit risk. 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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,452,107 $ 1,475,179 Variable interest rate commitments 12,950,544 13,572,161 Total loan commitments available for funding 14,402,651 15,047,340 Commercial and standby letters of credit (2) 1,679,680 1,695,856 Total unfunded credit commitments $ 16,082,331 $ 16,743,196 Commitments unavailable for funding (3) $ 1,952,726 $ 1,719,524 Maximum lending limits for accounts receivable factoring arrangements (4) 686,553 725,395 Allowance for unfunded credit commitments (5) 46,335 45,265 (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 allowance 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 March 31, 2017 . 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 $ 1,519,329 $ 45,306 $ 1,564,635 $ 1,564,635 Performance standby letters of credit 89,155 7,890 97,045 97,045 Commercial letters of credit 18,000 — 18,000 18,000 Total $ 1,626,484 $ 53,196 $ 1,679,680 $ 1,679,680 Deferred fees related to financial and performance standby letters of credit were $10 million at both March 31, 2017 and December 31, 2016 . At March 31, 2017 , collateral in the form of cash of $785 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 generally makes investments in 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 call most of the capital commitments over 5 to 7 years, and in certain cases, the funds may not call 100% of committed capital. 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 March 31, 2017 : Our Ownership in Venture Capital and Private Equity Funds (Dollars in thousands) SVBFG Capital Commitments SVBFG Unfunded Commitments SVBFG Ownership of each Fund (3) CP I, LP $ 6,000 $ 270 10.7 % CP II, LP (1) 1,200 162 5.1 Shanghai Yangpu Venture Capital Fund (LP) 842 — 6.8 Strategic Investors Fund, LP 15,300 688 12.6 Strategic Investors Fund II, LP 15,000 1,050 8.6 Strategic Investors Fund III, LP 15,000 1,275 5.9 Strategic Investors Fund IV, LP 12,239 2,325 5.0 Strategic Investors Fund V funds 515 141 Various Capital Preferred Return Fund, LP 12,688 — 20.0 Growth Partners, LP 24,670 1,340 33.0 Debt funds (equity method accounting) 58,493 — Various Other fund investments (2) 306,269 10,441 Various Total $ 468,216 $ 17,692 (1) Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in Strategic Investors Fund II, LP. (2) Represents commitments to 255 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. (3) 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 2016 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 March 31, 2017 : Limited Partnership (Dollars in thousands) Unfunded Commitments Strategic Investors Fund, LP $ 1,338 Capital Preferred Return Fund, LP 1,723 Growth Partners, LP 1,524 Total $ 4,585 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
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 California tax returns as major tax filings. Our U.S. federal tax returns for 2013 and subsequent years remain open to full examination. Our California tax returns for 2012 and subsequent tax years remain open to full examination. At March 31, 2017 , our unrecognized tax benefit was $5.4 million , the recognition of which would reduce our income tax expense by $3.5 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 months ended March 31, 2017 . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
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 pricing service providers who have experience in valuing these securities and by comparison to and/or average of quoted market prices obtained from independent 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 percent to 20 percent depending on the duration of the sale restrictions which typically range from three to six months. Equity warrant assets (public portfolio): Fair value measurements of equity warrant assets of publicly-traded portfolio companies are valued based on the Black-Scholes option pricing model. The model uses the price of publicly-traded companies (underlying stock price), stated strike prices, warrant expiration dates, the risk-free interest rate and market-observable option volatility assumptions. Modeled asset values are further adjusted by applying a discount of up to 20 percent for certain warrants that have 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 March 31, 2017 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2017 Assets Available-for-sale securities: U.S. Treasury securities $ 8,206,090 $ — $ — $ 8,206,090 U.S. agency debentures — 2,077,813 — 2,077,813 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,650,329 — 1,650,329 Agency-issued collateralized mortgage obligations - variable rate — 445,581 — 445,581 Equity securities 744 3,450 — 4,194 Total available-for-sale securities 8,206,834 4,177,173 — 12,384,007 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 139,715 Other venture capital investments (1) — — 2,040 2,040 Other securities (1) 646 — — 646 Total non-marketable and other securities (fair value accounting) 646 — 2,040 142,401 Other assets: Interest rate swaps — 318 — 318 Foreign exchange forward and option contracts — 54,911 — 54,911 Equity warrant assets — 2,034 122,199 124,233 Client interest rate derivatives — 10,702 — 10,702 Total assets $ 8,207,480 $ 4,245,138 $ 124,239 $ 12,716,572 Liabilities Foreign exchange forward and option contracts $ — $ 45,157 $ — $ 45,157 Client interest rate derivatives — 10,592 — 10,592 Total liabilities $ — $ 55,749 $ — $ 55,749 (1) 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, 2016 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2016 Assets Available-for-sale securities: U.S. Treasury securities $ 8,909,491 $ — $ — $ 8,909,491 U.S. agency debentures — 2,078,375 — 2,078,375 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,152,665 — 1,152,665 Agency-issued collateralized mortgage obligations - variable rate — 474,283 — 474,283 Equity securities 175 5,422 — 5,597 Total available-for-sale securities 8,909,666 3,710,745 — 12,620,411 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 141,649 Other venture capital investments (1) — — 2,040 2,040 Other securities (1) 753 — — 753 Total non-marketable and other securities (fair value accounting) 753 — 2,040 144,442 Other assets: Interest rate swaps — 810 — 810 Foreign exchange forward and option contracts — 68,027 — 68,027 Equity warrant assets — 2,310 128,813 131,123 Client interest rate derivatives — 10,110 — 10,110 Total assets $ 8,910,419 $ 3,792,002 $ 130,853 $ 12,974,923 Liabilities Foreign exchange forward and option contracts $ — $ 54,668 $ — $ 54,668 Client interest rate derivatives — 9,770 — 9,770 Total liabilities $ — $ 64,438 $ — $ 64,438 (1) Included in Level 1 and Level 3 assets are $0.6 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 months ended March 31, 2017 and 2016 , 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 March 31, 2017 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ — $ — $ — $ — $ — $ 2,040 Other assets: Equity warrant assets (2) 128,813 6,609 (17,086 ) 4,030 — (167 ) 122,199 Total assets $ 130,853 $ 6,609 $ (17,086 ) $ 4,030 $ — $ (167 ) $ 124,239 Three months ended March 31, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ (30 ) $ — $ — $ 30 $ — $ 2,040 Other assets: Equity warrant assets (2) 135,168 7,179 (15,416 ) 2,374 — (323 ) 128,982 Total assets $ 137,208 $ 7,149 $ (15,416 ) $ 2,374 $ 30 $ (323 ) $ 131,022 (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 equity warrant assets, 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 March 31, 2017 and 2016 , respectively: Three months ended March 31, (Dollars in thousands) 2017 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ — $ — Other assets: Equity warrant assets (2) (347 ) 1,465 Total unrealized (losses) gains, net $ (347 ) $ 1,465 Unrealized (losses) gains attributable to noncontrolling interests $ — $ — (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 equity warrant assets, 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 March 31, 2017 and December 31, 2016. 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 March 31, 2017: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,223 Modified Black-Scholes option pricing model Volatility 40.7 % Risk-Free interest rate 1.8 % Sales restrictions discount (2) 15.1 % Equity warrant assets (private portfolio) 120,976 Modified Black-Scholes option pricing model Volatility 37.1 % Risk-Free interest rate 1.3 % Marketability discount (3) 16.8 % Remaining life assumption (4) 45.0 % December 31, 2016: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 764 Modified Black-Scholes option pricing model Volatility 46.6 % Risk-Free interest rate 2.1 % Sales restrictions discount (2) 17.7 % Equity warrant assets (private portfolio) 128,049 Modified Black-Scholes option pricing model Volatility 36.9 % Risk-Free interest rate 1.3 % Marketability discount (3) 17.1 % 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. We use company provided valuation reports, if available, to support our valuation assumptions. 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 percent to 20 percent depending on the duration of the sales restrictions, which typically range from three to six 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 March 31, 2017 , the weighted average contractual remaining term was 5.9 years, compared to our estimated remaining life of 2.6 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. For the three months ended March 31, 2017 and 2016 , 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 months ended March 31, 2017 and 2016 were due primarily to the expiration of lock-up, and other sales restrictions on certain of our public warrant positions. All other transfers from Level 3 to Level 2 for the three months ended March 31, 2017 and 2016, 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 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 December 31 st , for our March 31 st 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 March 31, 2017 and December 31, 2016 . 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 March 31, 2017 and December 31, 2016 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 March 31, 2017: Financial assets: Cash and cash equivalents $ 3,795,679 $ 3,795,679 $ 3,795,679 $ — $ — Held-to-maturity securities 8,615,695 8,567,817 — 8,567,817 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 121,108 125,650 — — 125,650 Non-marketable securities (cost and equity method accounting) measured at net asset value 239,275 346,890 — — — Net commercial loans 17,953,251 18,165,969 — — 18,165,969 Net consumer loans 2,231,070 2,267,387 — — 2,267,387 FHLB and Federal Reserve Bank stock 57,592 57,592 — — 57,592 Accrued interest receivable 110,949 110,949 — 110,949 — Financial liabilities: Other short-term borrowings 5,163 5,163 5,163 — — Non-maturity deposits (1) 41,038,552 41,038,552 41,038,552 — — Time deposits 41,148 40,982 — 40,982 — 3.50% Senior Notes 347,059 340,582 — 340,582 — 5.375% Senior Notes 347,733 379,236 — 379,236 — 6.05% Subordinated Notes (2) 46,223 46,587 — 46,587 — 7.0% Junior Subordinated Debentures 54,450 54,021 — 54,021 — Accrued interest payable 4,990 4,990 — 4,990 — Off-balance sheet financial assets: Commitments to extend credit — 21,127 — — 21,127 December 31, 2016: Financial assets: Cash and cash equivalents $ 2,545,750 $ 2,545,750 $ 2,545,750 $ — $ — Held-to-maturity securities 8,426,998 8,376,138 — 8,376,138 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 120,037 127,343 — — 127,343 Non-marketable securities (cost and equity method accounting) measured at net asset value 245,626 353,870 — — — Net commercial loans 17,518,430 17,811,356 — — 17,811,356 Net consumer loans 2,156,148 2,199,501 — — 2,199,501 FHLB and Federal Reserve Bank stock 57,592 57,592 — — 57,592 Accrued interest receivable 111,222 111,222 — 111,222 — Financial liabilities: Short-term FHLB advances 500,000 500,000 500,000 — — Other short-term borrowings 12,668 12,668 12,668 — — Non-maturity deposits (1) 38,923,750 38,923,750 38,923,750 — — Time deposits 56,118 55,949 — 55,949 — 3.50% Senior Notes 346,979 337,600 — 337,600 — 5.375% Senior Notes 347,586 378,777 — 378,777 — 6.05% Subordinated Notes (2) 46,646 47,489 — 47,489 — 7.0% Junior Subordinated Debentures 54,493 53,140 — 53,140 — Accrued interest payable 12,013 12,013 — 12,013 — Off-balance sheet financial assets: Commitments to extend credit — 22,074 — — 22,074 (1) Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. (2) At March 31, 2017 and December 31, 2016 , included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was an interest rate swap valued at $0.3 million and $0.8 million , respectively, related to hedge accounting associated with the notes. Investments in Entities that Calculate Net Asset Value Per Share FASB guidance over certain fund investments requires that we disclose the fair value of funds, significant investment strategies of the investees, redemption features of the investees, restrictions on the ability to sell investments, estimate of the period of time over which the underlying assets are expected to be liquidated by the investee, and unfunded commitments related to the investments. Our investments in debt funds and venture capital and private equity fund investments generally cannot be redeemed. Alternatively, we expect distributions, if any, to be received primarily through IPO and M&A activity of the underlying assets of the fund. Subject to applicable requirements under the Volcker Rule, we do not have any plans to sell any of these fund investments. If we decide to sell these investments in the future, the investee fund’s management must approve of the buyer before the sale of the investments can be completed. The fair values of the fund investments have been estimated using the net asset value per share of the investments, adjusted fo |
Legal Matters
Legal Matters | 3 Months Ended |
Mar. 31, 2017 | |
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 and/or our affiliates, and we may from time to time be involved in other legal or regulatory proceedings. In accordance with applicable accounting guidance, we establish accruals for all such matters, including 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 matters 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 aim to disclose information relating to such potential loss. We also aim to disclose information relating to any material potential loss that is probable but not reasonably estimable. In such cases, where reasonably practicable, we aim to 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 any such matters, nor do we currently expect 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 | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Parties | Related Parties We have no material related party transactions requiring disclosure. In the ordinary course of business, the Bank extends credit to related parties, including executive officers, directors, principal shareholders and their related interests. Additionally, we provide real estate secured loans to eligible employees through our EHOP. For additional details, see Note 16—“Employee Compensation and Benefit Plans" under Part II, Item 8 of our 2016 Form 10-K. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Principles of Consolidation and Presentation | Principles of Consolidation and Presentation 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 or entities through which we have a controlling financial interest in a variable interest entity ("VIE"). We determine whether we have a controlling financial interest in a VIE by determining if we have: (a) the power to direct the activities of the VIE that most significantly impact the entity’s economic performance, (b) the obligation to absorb the expected losses, or (c) the right to receive the expected returns of the entity. 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. 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 also 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. We also evaluate fees paid to managers of our limited partnership investments. 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. Fee arrangements based on terms that are customary and commensurate with the services provided are deemed not to be variable interests and are, therefore, excluded. 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. This guidance is not applicable to financial instruments and, therefore, is not expected to impact a majority of our revenue, which is primarily net interest income. We continue to evaluate the impact of this guidance to our noninterest income and on our presentation and disclosures. 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. Upon adoption we expect to carry our cost method venture capital and private equity fund investments at fair value. The actual adjustment to opening retained earnings will depend upon the fair value of our investments at the adoption date. 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 plan to adopt the lease accounting guidance in the first quarter of 2019. 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 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, 2019. 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, primarily related to the changes to our income statement presentation of net gains on derivative instruments and provision for unfunded credit commitments have been reclassified to conform to current period presentations. |
Stockholders' Equity and EPS (T
Stockholders' Equity and EPS (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) Income Statement Location 2017 2016 Reclassification adjustment for (gains) losses included in net income Gains (losses) on investment securities, net $ (608 ) $ 746 Related tax expense (benefit) Income tax expense 248 (304 ) Total reclassification adjustment for (gains) losses included in net income, net of tax $ (360 ) $ 442 |
Reconciliation of Basic EPS to Diluted EPS | The following is a reconciliation of basic EPS to diluted EPS for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars and shares in thousands, except per share amounts) 2017 2016 Numerator: Net income available to common stockholders $ 101,483 $ 79,174 Denominator: Weighted average common shares outstanding-basic 52,344 51,646 Weighted average effect of dilutive securities: Stock options and ESPP 440 264 Restricted stock units 395 175 Denominator for diluted calculation 53,179 52,085 Earnings per common share: Basic $ 1.94 $ 1.53 Diluted $ 1.91 $ 1.52 |
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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Shares in thousands) 2017 2016 Stock options — 351 Restricted stock units 21 14 Total 21 365 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share Based Compensation and Related Benefits | For the three months ended March 31, 2017 and 2016 , we recorded share-based compensation and related tax benefits as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Share-based compensation expense $ 9,203 $ 6,877 Income tax benefit related to share-based compensation expense (3,015 ) (2,117 ) |
Unrecognized Share Based Compensation Expense | As of March 31, 2017 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Weighted Average Expected Recognition Period - in Years Stock options $ 8,005 2.27 Restricted stock units 42,706 2.50 Total unrecognized share-based compensation expense $ 50,711 |
Stock Option Information Related to Equity Incentive Plan | The table below provides stock option information related to the 2006 Equity Incentive Plan for the three months ended March 31, 2017 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2016 1,010,557 $ 87.24 Exercised (140,698 ) 65.76 Forfeited (1,605 ) 93.18 Outstanding at March 31, 2017 868,254 90.71 3.80 $ 82,818,255 Vested and expected to vest at March 31, 2017 848,536 90.25 3.76 81,319,775 Exercisable at March 31, 2017 442,135 76.45 2.69 48,474,704 |
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 three months ended March 31, 2017 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2016 670,969 $ 106.64 Granted 54,240 185.72 Vested (36,414 ) 105.65 Forfeited (9,263 ) 107.70 Nonvested at March 31, 2017 679,532 112.99 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs March 31, 2017: Assets: Cash and cash equivalents $ 10,959 $ — $ — Non-marketable and other securities (1) 196,708 326,169 326,169 Accrued interest receivable and other assets 236 — — Total assets $ 207,903 $ 326,169 $ 326,169 Liabilities: Other liabilities (1) 387 81,650 — Total liabilities $ 387 $ 81,650 $ — December 31, 2016: Assets: Cash and cash equivalents $ 11,469 $ — $ — Non-marketable and other securities (1) 196,140 314,810 314,810 Accrued interest receivable and other assets 294 — — Total assets $ 207,903 $ 314,810 $ 314,810 Liabilities: Other liabilities (1) 517 58,095 — Total liabilities $ 517 $ 58,095 $ — (1) Included in our unconsolidated non-marketable and other securities portfolio at March 31, 2017 and December 31, 2016 are investments in qualified affordable housing projects of $132.8 million and $112.4 million , respectively, and related unfunded commitments of $81.7 million and $58.1 million , respectively. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | The following table details our cash and cash equivalents at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Cash and due from banks (1) $ 3,612,954 $ 2,476,588 Securities purchased under agreements to resell (2) 178,037 64,028 Other short-term investment securities 4,688 5,134 Total cash and cash equivalents $ 3,795,679 $ 2,545,750 (1) At March 31, 2017 and December 31, 2016 , $2.4 billion and $1.1 billion , 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 $773 million and $721 million , respectively. (2) At March 31, 2017 and December 31, 2016 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $182 million an d $66 million , respectively. None of these securities were sold or repledged as of March 31, 2017 and December 31, 2016 . |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Major Components of Investment Securities Portfolio | The components of our available-for-sale investment securities portfolio at March 31, 2017 and December 31, 2016 are as follows: March 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,182,666 $ 24,878 $ (1,454 ) $ 8,206,090 U.S. agency debentures 2,066,507 12,763 (1,457 ) 2,077,813 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,661,505 2,707 (13,883 ) 1,650,329 Agency-issued collateralized mortgage obligations—variable rate 445,575 668 (662 ) 445,581 Equity securities 4,491 430 (727 ) 4,194 Total available-for-sale securities $ 12,360,744 $ 41,446 $ (18,183 ) $ 12,384,007 December 31, 2016 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 8,880,358 $ 30,323 $ (1,190 ) $ 8,909,491 U.S. agency debentures 2,065,535 14,443 (1,603 ) 2,078,375 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 1,163,017 3,046 (13,398 ) 1,152,665 Agency-issued collateralized mortgage obligations—variable rate 474,238 685 (640 ) 474,283 Equity securities 5,635 748 (786 ) 5,597 Total available-for-sale securities $ 12,588,783 $ 49,245 $ (17,617 ) $ 12,620,411 |
Summary of Unrealized Losses on Available for Sale Securities | The following tables summarize our unrealized losses on our AFS securities portfolio into categories of less than 12 months, or 12 months or longer as of March 31, 2017 and December 31, 2016 : March 31, 2017 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 $ 1,377,573 $ (1,454 ) $ — $ — $ 1,377,573 $ (1,454 ) U.S. agency debentures 513,209 (1,457 ) — — 513,209 (1,457 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 843,542 (7,607 ) 214,507 (6,276 ) 1,058,049 (13,883 ) Agency-issued collateralized mortgage obligations—variable rate 179,675 (454 ) 48,464 (208 ) 228,139 (662 ) Equity securities 2,042 (727 ) — — 2,042 (727 ) Total temporarily impaired securities: (1) $ 2,916,041 $ (11,699 ) $ 262,971 $ (6,484 ) $ 3,179,012 $ (18,183 ) (1) As of March 31, 2017 , we identified a total of 189 investments that were in unrealized loss positions, of which 36 investments totaling $263.0 million with unrealized losses of $6.5 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2017 , 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 March 31, 2017 , 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. December 31, 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: U.S. Treasury securities $ 879,255 $ (1,190 ) $ — $ — $ 879,255 $ (1,190 ) U.S. agency debentures 513,198 (1,603 ) — — 513,198 (1,603 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 635,566 (6,704 ) 227,480 (6,694 ) 863,046 (13,398 ) Agency-issued collateralized mortgage obligations—variable rate 258,325 (613 ) 6,068 (27 ) 264,393 (640 ) Equity securities 3,693 (786 ) — — 3,693 (786 ) Total temporarily impaired securities (1): $ 2,290,037 $ (10,896 ) $ 233,548 $ (6,721 ) $ 2,523,585 $ (17,617 ) (1) As of December 31, 2016 , we identified a total of 174 investments that were in unrealized loss positions, of which 20 investments totaling $233.5 million with unrealized losses of $6.7 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 fixed income securities, carried at fair value, classified as available-for-sale as of March 31, 2017 by the remaining contractual principal maturities. 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. March 31, 2017 (Dollars in thousands) Total One Year After One After Five After U.S. Treasury securities $ 8,206,090 $ 2,321,436 $ 5,884,654 $ — $ — U.S. agency debentures 2,077,813 500,035 1,577,778 — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate 1,650,329 — — 622,312 1,028,017 Agency-issued collateralized mortgage obligations - variable rate 445,581 — — — 445,581 Total $ 12,379,813 $ 2,821,471 $ 7,462,432 $ 622,312 $ 1,473,598 The following table summarizes the remaining contractual principal maturities on fixed income investment securities classified as held-to-maturity as of March 31, 2017 . 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. March 31, 2017 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 Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value Amortized Cost Fair Value U.S. agency debentures $ 641,421 $ 646,579 $ — $ — $ 75,459 $ 76,306 $ 565,962 $ 570,273 $ — $ — Residential mortgage-backed securities: Agency-issued mortgage-backed securities 3,020,929 3,009,733 — — 317,056 315,424 77,461 76,978 2,626,412 2,617,331 Agency-issued collateralized mortgage obligations - fixed rate 3,223,055 3,193,098 — — — — 160,700 158,587 3,062,355 3,034,511 Agency-issued collateralized mortgage obligations - variable rate 299,257 298,997 — — — — — — 299,257 298,997 Agency-issued commercial mortgage-backed securities 1,292,744 1,282,428 — — — — — — 1,292,744 1,282,428 Municipal bonds and notes 138,289 136,982 6,168 6,159 55,716 55,259 59,517 58,913 16,888 16,651 Total $ 8,615,695 $ 8,567,817 $ 6,168 $ 6,159 $ 448,231 $ 446,989 $ 863,640 $ 864,751 $ 7,297,656 $ 7,249,918 |
Held-to-maturity Securities | The components of our held-to-maturity investment securities portfolio at March 31, 2017 and December 31, 2016 are as follows: March 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 641,421 $ 7,106 $ (1,948 ) $ 646,579 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 3,020,929 5,498 (16,694 ) 3,009,733 Agency-issued collateralized mortgage obligations—fixed rate 3,223,055 638 (30,595 ) 3,193,098 Agency-issued collateralized mortgage obligations—variable rate 299,257 217 (477 ) 298,997 Agency-issued commercial mortgage-backed securities 1,292,744 1,242 (11,558 ) 1,282,428 Municipal bonds and notes 138,289 295 (1,602 ) 136,982 Total held-to-maturity securities $ 8,615,695 $ 14,996 $ (62,874 ) $ 8,567,817 (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, 2016 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 622,445 $ 7,840 $ (1,198 ) $ 629,087 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,896,179 6,919 (24,526 ) 2,878,572 Agency-issued collateralized mortgage obligations—fixed rate 3,362,598 788 (31,274 ) 3,332,112 Agency-issued collateralized mortgage obligations—variable rate 312,665 176 (1,339 ) 311,502 Agency-issued commercial mortgage-backed securities 1,151,363 1,237 (7,638 ) 1,144,962 Municipal bonds and notes 81,748 8 (1,853 ) 79,903 Total held-to-maturity securities $ 8,426,998 $ 16,968 $ (67,828 ) $ 8,376,138 (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 tables summarize our unrealized losses on our held-to-maturity securities portfolio into categories of less than 12 months and 12 months or longer as of March 31, 2017 and December 31, 2016 : March 31, 2017 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: U.S. agency debentures $ 117,916 $ (1,948 ) $ — $ — $ 117,916 $ (1,948 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 2,152,438 (15,863 ) 21,350 (831 ) 2,173,788 (16,694 ) Agency-issued collateralized mortgage obligations—fixed rate 2,749,432 (25,442 ) 213,674 (5,153 ) 2,963,106 (30,595 ) Agency-issued collateralized mortgage obligations—variable rate 89,927 (469 ) 3,234 (8 ) 93,161 (477 ) Agency-issued commercial mortgage-backed securities 1,106,777 (11,453 ) 14,225 (105 ) 1,121,002 (11,558 ) Municipal bonds and notes 38,086 (613 ) 33,644 (989 ) 71,730 (1,602 ) Total temporarily impaired securities (1): $ 6,254,576 $ (55,788 ) $ 286,127 $ (7,086 ) $ 6,540,703 $ (62,874 ) (1) As of March 31, 2017 , we identified a total of 478 investments that were in unrealized loss positions, of which 96 investments totaling $286.1 million with unrealized losses of $7.1 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2017 , 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 March 31, 2017 , 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. December 31, 2016 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: U.S. agency debentures $ 118,721 $ (1,198 ) $ — $ — $ 118,721 $ (1,198 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 1,801,861 (23,558 ) 21,917 (968 ) 1,823,778 (24,526 ) Agency-issued collateralized mortgage obligations—fixed rate 2,729,889 (25,723 ) 228,220 (5,551 ) 2,958,109 (31,274 ) Agency-issued collateralized mortgage obligations—variable rate 251,012 (1,339 ) — — 251,012 (1,339 ) Agency-issued commercial mortgage-backed securities 999,440 (7,494 ) 14,934 (144 ) 1,014,374 (7,638 ) Municipal bonds and notes 42,267 (877 ) 30,586 (976 ) 72,853 (1,853 ) Total temporarily impaired securities (1): $ 5,943,190 $ (60,189 ) $ 295,657 $ (7,639 ) $ 6,238,847 $ (67,828 ) (1) As of December 31, 2016 , we identified a total of 462 investments that were in unrealized loss positions, of which 85 investments totaling $295.7 million with unrealized losses of $7.6 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 March 31, 2017 and December 31, 2016 are as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Non-marketable and other securities: Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 139,715 $ 141,649 Other venture capital investments (2) 2,040 2,040 Other securities (fair value accounting) (3) 646 753 Non-marketable securities (equity method accounting) (4): Venture capital and private equity fund investments 85,529 82,823 Debt funds 16,509 17,020 Other investments 112,665 123,514 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (5) 117,243 114,606 Other investments 28,437 27,700 Investments in qualified affordable housing projects, net (6) 132,766 112,447 Total non-marketable and other securities $ 635,550 $ 622,552 (1) The following table shows the amounts of venture capital and private equity fund investments held by the following consolidated funds and our ownership percentage of each fund at March 31, 2017 and December 31, 2016 (fair value accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % Strategic Investors Fund, LP $ 18,048 12.6 % $ 18,459 12.6 % Capital Preferred Return Fund, LP 59,225 20.0 57,627 20.0 Growth Partners, LP 62,442 33.0 59,718 33.0 Other private equity fund (i) — — 5,845 58.2 Total venture capital and private equity fund investments $ 139,715 $ 141,649 (i) At December 31, 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 Growth Partners, LP and an indirect ownership interest of 4.1 percent through our ownership interest of Capital Preferred Return Fund, LP. On January 3, 2017, the other private equity fund was closed resulting in an immaterial impact on the Company's financial statements for the three months ended March 31, 2017 . (2) The following table shows the amounts of other venture capital investments held by the following consolidated funds and our ownership percentage at March 31, 2017 and December 31, 2016 (fair value accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % CP I, 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 March 31, 2017 and December 31, 2016 (equity method accounting): March 31, 2017 December 31, 2016 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: Strategic Investors Fund II, LP $ 7,540 8.6 % $ 7,720 8.6 % Strategic Investors Fund III, LP 20,188 5.9 20,449 5.9 Strategic Investors Fund IV, LP 26,342 5.0 24,530 5.0 Strategic Investors Fund V funds 12,521 Various 12,029 Various CP II, LP (i) 7,568 5.1 7,798 5.1 Other venture capital and private equity fund investments 11,370 Various 10,297 Various Total venture capital and private equity fund investments $ 85,529 $ 82,823 Debt funds: Gold Hill Capital 2008, LP (ii) $ 12,888 15.5 % $ 13,557 15.5 % Other debt funds 3,621 Various 3,463 Various Total debt funds $ 16,509 $ 17,020 Other investments: SPD Silicon Valley Bank Co., Ltd. $ 75,316 50.0 % $ 75,296 50.0 % Other investments 37,349 Various 48,218 Various Total other investments $ 112,665 $ 123,514 (i) Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investments in Strategic Investors Fund II, LP. (ii) At March 31, 2017, 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 249 and 252 funds (primarily venture capital funds) at March 31, 2017 and December 31, 2016 , 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 $117.2 million and $223.7 million , respectively, as of March 31, 2017 . The carrying value, and estimated fair value, of these venture capital and private equity fund investments (cost method accounting) was $114.6 million and $221.7 million , respectively, as of December 31, 2016 . (6) The following table presents the balances of our investments in qualified affordable housing projects and related unfunded commitments included as a component of “other liabilities” on our consolidated balance sheets at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Investments in qualified affordable housing projects, net $ 132,766 $ 112,447 Other liabilities 81,650 58,095 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Tax credits and other tax benefits recognized $ 4,692 $ 4,207 Amortization expense included in provision for income taxes (i) 3,236 3,612 (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 included as a component of “other liabilities” on our consolidated balance sheets at March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Investments in qualified affordable housing projects, net $ 132,766 $ 112,447 Other liabilities 81,650 58,095 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Tax credits and other tax benefits recognized $ 4,692 $ 4,207 Amortization expense included in provision for income taxes (i) 3,236 3,612 (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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Gross gains on investment securities: Available-for-sale securities, at fair value (1) $ 675 $ 1,753 Non-marketable securities (fair value accounting): Venture capital and private equity fund investments 7,082 2,823 Other venture capital investments — 8 Other securities (fair value accounting) 156 63 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 3,917 1,653 Debt funds 238 900 Other investments 742 851 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments 3,159 2,338 Other investments 3,569 — Total gross gains on investment securities 19,538 10,389 Gross losses on investment securities: Available-for-sale securities, at fair value (1) (67 ) (2,499 ) Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (619 ) (7,893 ) Other venture capital investments — (38 ) Other securities (fair value accounting) (238 ) (157 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (183 ) (3,555 ) Debt funds (669 ) (45 ) Other investments (1,484 ) (644 ) Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) (112 ) (171 ) Other investments (196 ) (71 ) Total gross losses on investment securities (3,568 ) (15,073 ) Gains (losses) on investment securities, net $ 15,970 $ (4,684 ) (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 March 31, 2017 and 2016 , includes OTTI losses of $0.1 million from the declines in value for 5 of the 249 investments and $0.2 million from the declines in value for 10 of the 267 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, Allowance for Loan Los30
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | The composition of loans, net of unearned income of $121 million and $125 million at March 31, 2017 and December 31, 2016 , respectively, is presented in the following table: (Dollars in thousands) March 31, 2017 December 31, 2016 Commercial loans: Software/internet $ 5,458,203 $ 5,627,031 Hardware 1,097,835 1,180,398 Private equity/venture capital 8,426,831 7,691,148 Life science/healthcare 1,735,987 1,853,004 Premium wine 203,736 200,156 Other 473,918 393,551 Total commercial loans 17,396,510 16,945,288 Real estate secured loans: Premium wine (1) 672,831 678,166 Consumer loans (2) 2,012,977 1,926,968 Other 43,281 43,487 Total real estate secured loans 2,729,089 2,648,621 Construction loans 70,755 64,671 Consumer loans 231,097 241,364 Total loans, net of unearned income (3) $ 20,427,451 $ 19,899,944 (1) Included in our premium wine portfolio are gross construction loans of $103 million and $110 million at March 31, 2017 and December 31, 2016 , respectively. (2) Consumer loans secured by real estate at March 31, 2017 and December 31, 2016 were comprised of the following: (Dollars in thousands) March 31, 2017 December 31, 2016 Loans for personal residence $ 1,735,925 $ 1,655,349 Loans to eligible employees 207,420 199,291 Home equity lines of credit 69,632 72,328 Consumer loans secured by real estate $ 2,012,977 $ 1,926,968 (3) Included within our total loan portfolio are credit card loans of $242 million and $224 million at March 31, 2017 and December 31, 2016 , 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 $121 million and $125 million at March 31, 2017 and December 31, 2016 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Commercial loans: Software/internet $ 5,458,203 $ 5,627,031 Hardware 1,097,835 1,180,398 Private equity/venture capital 8,426,831 7,691,148 Life science/healthcare 1,735,987 1,853,004 Premium wine 876,567 878,322 Other 587,954 501,709 Total commercial loans 18,183,377 17,731,612 Consumer loans: Real estate secured loans 2,012,977 1,926,968 Other consumer loans 231,097 241,364 Total consumer loans 2,244,074 2,168,332 Total loans, net of unearned income $ 20,427,451 $ 19,899,944 |
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 March 31, 2017 and December 31, 2016 : (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 March 31, 2017: Commercial loans: Software/internet $ 26,927 $ 3,331 $ 38 $ 30,296 $ 5,350,664 $ 38 Hardware 7,406 4 20 7,430 1,071,772 20 Private equity/venture capital 33,878 3,235 — 37,113 8,399,895 — Life science/healthcare 708 20 2 730 1,743,014 2 Premium wine 3,037 1,201 — 4,238 869,106 — Other 1,684 300 — 1,984 591,996 — Total commercial loans 73,640 8,091 60 81,791 18,026,447 60 Consumer loans: Real estate secured loans 3,115 — — 3,115 2,005,869 — Other consumer loans — — — — 228,813 — Total consumer loans 3,115 — — 3,115 2,234,682 — Total gross loans excluding impaired loans 76,755 8,091 60 84,906 20,261,129 60 Impaired loans 4,888 2,207 38,353 45,448 157,168 — Total gross loans $ 81,643 $ 10,298 $ 38,413 $ 130,354 $ 20,418,297 $ 60 December 31, 2016: Commercial loans: Software/internet $ 37,087 $ 1,162 $ 6 $ 38,255 $ 5,507,575 $ 6 Hardware 5,591 36 27 5,654 1,118,065 27 Private equity/venture capital 689 — — 689 7,747,222 — Life science/healthcare 283 551 — 834 1,827,490 — Premium wine 1,003 4 — 1,007 876,185 — Other 34 300 — 334 504,021 — Total commercial loans 44,687 2,053 33 46,773 17,580,558 33 Consumer loans: Real estate secured loans 850 — — 850 1,923,266 — Other consumer loans 1,402 — — 1,402 237,353 — Total consumer loans 2,252 — — 2,252 2,160,619 — Total gross loans excluding impaired loans 46,939 2,053 33 49,025 19,741,177 33 Impaired loans 34,636 3,451 11,180 49,267 185,193 — Total gross loans $ 81,575 $ 5,504 $ 11,213 $ 98,292 $ 19,926,370 $ 33 |
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 March 31, 2017 and December 31, 2016 : (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 March 31, 2017: Commercial loans: Software/internet $ 123,305 $ 1,531 $ 124,836 $ 132,588 Hardware 27,531 2,002 29,533 34,307 Private equity/venture capital 346 — 346 346 Life science/healthcare 38,552 741 39,293 42,478 Premium wine 3,321 — 3,321 3,321 Other 1,659 — 1,659 1,953 Total commercial loans 194,714 4,274 198,988 214,993 Consumer loans: Real estate secured loans 1,480 — 1,480 2,768 Other consumer loans 2,148 — 2,148 2,148 Total consumer loans 3,628 — 3,628 4,916 Total $ 198,342 $ 4,274 $ 202,616 $ 219,909 December 31, 2016: Commercial loans: Software/internet $ 121,658 $ 1,090 $ 122,748 $ 129,648 Hardware 65,395 — 65,395 70,683 Private equity/venture capital — — — — Life science/healthcare 38,361 — 38,361 41,130 Premium wine 3,187 — 3,187 3,187 Other 867 — 867 867 Total commercial loans 229,468 1,090 230,558 245,515 Consumer loans: Real estate secured loans 1,504 — 1,504 2,779 Other consumer loans 2,398 — 2,398 2,398 Total consumer loans 3,902 — 3,902 5,177 Total $ 233,370 $ 1,090 $ 234,460 $ 250,692 |
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 months ended March 31, 2017 and 2016 : Three months ended March 31, Average impaired loans Interest income on impaired loans (Dollars in thousands) 2017 2016 2017 2016 Commercial loans: Software/internet $ 109,916 $ 89,367 $ 422 $ 421 Hardware 34,110 24,426 572 397 Private equity/venture capital 358 — 2 — Life science/healthcare 38,942 39,690 150 133 Premium wine 3,213 2,171 38 17 Other 1,061 3,853 4 7 Total commercial loans 187,600 159,507 1,188 975 Consumer loans: Real estate secured loans 1,488 135 — — Other consumer loans 2,148 34 8 — Total consumer loans 3,636 169 8 — Total average impaired loans $ 191,236 $ 159,676 $ 1,196 $ 975 |
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 months ended March 31, 2017 and 2016 , broken out by portfolio segment: Three months ended March 31, 2017 (Dollars in thousands) Beginning Balance December 31, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2017 Commercial loans: Software/internet $ 97,388 $ (7,980 ) $ 1,171 $ 18,719 $ 204 $ 109,502 Hardware 31,166 (4,024 ) 267 (4,080 ) (45 ) 23,284 Private equity/venture capital 50,299 — — 6,706 73 57,078 Life science/healthcare 25,446 (1,732 ) 36 7,708 84 31,542 Premium wine 4,115 — — 226 2 4,343 Other 4,768 (294 ) 297 (390 ) (4 ) 4,377 Total commercial loans 213,182 (14,030 ) 1,771 28,889 314 230,126 Total consumer loans 12,184 — 21 790 9 13,004 Total allowance for loan losses $ 225,366 $ (14,030 ) $ 1,792 $ 29,679 $ 323 $ 243,130 Three months ended March 31, 2016 (Dollars in thousands) Beginning Balance December 31, 2015 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments (1) Ending Balance March 31, 2016 Commercial loans: Software/internet $ 103,045 $ (22,161 ) $ 3,960 $ 21,632 $ 422 $ 106,898 Hardware 23,085 (1,486 ) 239 1,959 39 23,836 Private equity/venture capital 35,282 — — 8,243 161 43,686 Life science/healthcare 36,576 (2,395 ) 491 (4,303 ) (84 ) 30,285 Premium wine 5,205 — — 39 — 5,244 Other 4,252 (30 ) 74 5,145 106 9,547 Total commercial loans 207,445 (26,072 ) 4,764 32,715 644 219,496 Total consumer loans 10,168 (102 ) 49 626 12 10,753 Total allowance for loan losses $ 217,613 $ (26,174 ) $ 4,813 $ 33,341 $ 656 $ 230,249 (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 activity relating to our allowance for unfunded credit commitments for the three months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Beginning balance $ 45,265 $ 34,415 Provision for unfunded credit commitments 1,055 134 Foreign currency translation adjustments 15 (8 ) Ending balance (1) $ 46,335 $ 34,541 (1) 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 for additional disclosures related to our commitments to extend credit. |
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 March 31, 2017 and December 31, 2016 , broken out by portfolio segment: March 31, 2017 December 31, 2016 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/internet $ 38,563 $ 124,836 $ 70,939 $ 5,333,367 $ 28,245 $ 122,748 $ 69,143 $ 5,504,283 Hardware 2,674 29,533 20,610 1,068,302 9,995 65,395 21,171 1,115,003 Private equity/venture capital 35 346 57,043 8,426,485 — — 50,299 7,691,148 Life science/healthcare 13,580 39,293 17,962 1,696,694 8,709 38,361 16,737 1,814,643 Premium wine 513 3,321 3,830 873,246 520 3,187 3,595 875,135 Other 342 1,659 4,035 586,295 233 867 4,535 500,842 Total commercial loans 55,707 198,988 174,419 17,984,389 47,702 230,558 165,480 17,501,054 Total consumer loans 1,074 3,628 11,930 2,240,446 1,123 3,902 11,061 2,164,430 Total $ 56,781 $ 202,616 $ 186,349 $ 20,224,835 $ 48,825 $ 234,460 $ 176,541 $ 19,665,484 |
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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total March 31, 2017: Commercial loans: Software/internet $ 4,858,104 $ 522,856 $ 25,165 $ 99,671 $ 5,505,796 Hardware 938,269 140,933 27,464 2,069 1,108,735 Private equity/venture capital 8,436,841 167 346 — 8,437,354 Life science/healthcare 1,588,709 155,035 7,153 32,140 1,783,037 Premium wine 854,409 18,935 2,831 490 876,665 Other 573,527 20,453 357 1,302 595,639 Total commercial loans 17,249,859 858,379 63,316 135,672 18,307,226 Consumer loans: Real estate secured loans 1,997,248 11,736 — 1,480 2,010,464 Other consumer loans 228,162 651 536 1,612 230,961 Total consumer loans 2,225,410 12,387 536 3,092 2,241,425 Total gross loans $ 19,475,269 $ 870,766 $ 63,852 $ 138,764 $ 20,548,651 December 31, 2016: Commercial loans: Software/internet $ 4,924,923 $ 620,907 $ 46,143 $ 76,605 $ 5,668,578 Hardware 985,889 137,830 58,814 6,581 1,189,114 Private equity/venture capital 7,747,317 594 — — 7,747,911 Life science/healthcare 1,707,499 120,825 6,578 31,783 1,866,685 Premium wine 865,354 11,838 2,696 491 880,379 Other 480,845 23,510 464 403 505,222 Total commercial loans 16,711,827 915,504 114,695 115,863 17,857,889 Consumer loans: Real estate secured loans 1,914,512 9,604 — 1,504 1,925,620 Other consumer loans 238,256 499 786 1,612 241,153 Total consumer loans 2,152,768 10,103 786 3,116 2,166,773 Total gross loans $ 18,864,595 $ 925,607 $ 115,481 $ 118,979 $ 20,024,662 |
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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Loans modified in TDRs: Commercial loans: Software/internet $ 59,419 $ 52,646 Hardware 10,687 14,870 Life science/healthcare 21,561 24,176 Premium wine 3,177 3,194 Other 33 387 Total commercial loans 94,877 95,273 Consumer loans: Other consumer loans 536 786 Total consumer loans 536 786 Total $ 95,413 $ 96,059 |
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 months ended March 31, 2017 and 2016 : Three months ended March 31, (Dollars in thousands) 2017 2016 Loans modified in TDRs during the period: Commercial loans: Software/internet $ 6,309 $ 10,854 Other — 505 Total commercial loans 6,309 11,359 Total consumer loans — — Total loans modified in TDRs during the period (1) $ 6,309 $ 11,359 (1) There were $6.2 million of partial charge-offs during the three months ended March 31, 2017 and $3.8 million of partial charge-offs during the three months ended March 31, 2016 . |
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 months ended March 31, 2017 . There were no loans modified in TDRs within the previous 12 months that subsequently defaulted during the three months ended March 31, 2016. Three months ended March 31, (Dollars in thousands) 2017 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Hardware $ 3,105 Total commercial loans 3,105 Consumer loans: Other consumer loans 536 Total consumer loans 536 Total TDRs modified within the previous 12 months that defaulted in the period $ 3,641 |
Short-Term Borrowings and Lon31
Short-Term Borrowings and Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Outstanding Short Term Borrowings and Long Term Debt | The following table represents outstanding short-term borrowings and long-term debt at March 31, 2017 and December 31, 2016 : Carrying Value (Dollars in thousands) Maturity Principal value at March 31, 2017 March 31, December 31, Short-term borrowings: Short-term FHLB advances $ — $ — $ 500,000 Other short-term borrowings (1) 5,163 5,163 12,668 Total short-term borrowings $ 5,163 $ 512,668 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 347,059 $ 346,979 5.375% Senior Notes September 15, 2020 350,000 347,733 347,586 6.05% Subordinated Notes (2) June 1, 2017 45,964 46,223 46,646 7.0% Junior Subordinated Debentures October 15, 2033 50,000 54,450 54,493 Total long-term debt $ 795,465 $ 795,704 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor, which includes an interest rate swap agreement related to our 6.05% Subordinated Notes. (2) At March 31, 2017 and December 31, 2016 , included in the carrying value of our 6.05% Subordinated Notes were $0.3 million and $0.8 million , respectively, related to hedge accounting associated with the notes |
Derivative Financial Instrume32
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 were as follows: March 31, 2017 December 31, 2016 (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 $ 318 $ — $ 318 $ 45,964 $ 810 $ 89 $ 721 Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards Other assets 93,012 759 — 759 219,950 3,057 — 3,057 Foreign exchange forwards Other liabilities 114,317 (950 ) — (950 ) 54,338 (968 ) — (968 ) Net exposure (191 ) — (191 ) 2,089 — 2,089 Other derivative instruments: Equity warrant assets Other assets 211,327 124,233 — 124,233 211,434 131,123 — 131,123 Other derivatives: Client foreign exchange forwards Other assets 1,747,019 50,291 5,163 45,128 1,251,308 54,587 12,579 42,008 Client foreign exchange forwards Other liabilities 1,588,628 (40,346 ) — (40,346 ) 1,068,991 (43,317 ) — (43,317 ) Client foreign currency options Other assets 813,579 3,861 — 3,861 775,000 10,383 — 10,383 Client foreign currency options Other liabilities 813,579 (3,861 ) — (3,861 ) 775,000 (10,383 ) — (10,383 ) Client interest rate derivatives Other assets 669,139 10,702 — 10,702 583,511 10,110 — 10,110 Client interest rate derivatives Other liabilities 712,965 (10,592 ) — (10,592 ) 627,639 (9,770 ) — (9,770 ) Net exposure 10,055 5,163 4,892 11,610 12,579 (969 ) Net $ 134,415 $ 5,163 $ 129,252 $ 145,632 $ 12,668 $ 132,964 (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 March 31, 2017 remain at investment grade or higher and there were no material changes in their credit ratings during the three months ended March 31, 2017 . |
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 months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) Statement of income location 2017 2016 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ 554 $ 609 Changes in fair value of interest rate swaps Other noninterest income (1 ) (17 ) Net gains associated with interest rate risk derivatives $ 553 $ 592 Derivatives not designated as hedging instruments: Currency exchange risks: Gains on revaluations of internal foreign currency instruments, net Other noninterest income $ 4,108 $ 2,491 Losses on internal foreign exchange forward contracts, net Other noninterest income (3,245 ) (2,208 ) Net gains associated with internal currency risk $ 863 $ 283 Other derivative instruments: Gains on revaluations of client foreign currency instruments, net Other noninterest income $ 2,754 $ 3,653 Losses on client foreign exchange forward contracts, net Other noninterest income (2,289 ) (5,654 ) Net gains (losses) associated with client currency risk $ 465 $ (2,001 ) Net gains on equity warrant assets Gains on equity warrant assets, net $ 6,690 $ 6,607 Net losses on other derivatives Other noninterest income $ (276 ) $ (421 ) |
Offsetting Assets | The following table summarizes our assets subject to enforceable master netting arrangements as of March 31, 2017 and December 31, 2016 : 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 Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements Net Amount (Dollars in thousands) Financial Instruments Cash Collateral Received March 31, 2017 Derivative Assets: Interest rate swaps $ 318 $ — $ 318 $ (318 ) $ — $ — Foreign exchange forwards 51,050 — 51,050 (22,222 ) (5,163 ) 23,665 Foreign currency options 3,861 — 3,861 (563 ) — 3,298 Client interest rate derivatives 10,702 — 10,702 (10,686 ) — 16 Total derivative assets: 65,931 — 65,931 (33,789 ) (5,163 ) 26,979 Reverse repurchase, securities borrowing, and similar arrangements 178,037 — 178,037 (178,037 ) — — Total $ 243,968 $ — $ 243,968 $ (211,826 ) $ (5,163 ) $ 26,979 December 31, 2016 Derivative Assets: Interest rate swaps $ 810 $ — $ 810 $ (721 ) $ (89 ) $ — Foreign exchange forwards 57,644 — 57,644 (22,738 ) (12,579 ) 22,327 Foreign currency options 10,383 — 10,383 (8,806 ) — 1,577 Client interest rate derivatives 10,110 — 10,110 (10,091 ) — 19 Total derivative assets: 78,947 — 78,947 (42,356 ) (12,668 ) 23,923 Reverse repurchase, securities borrowing, and similar arrangements 64,028 — 64,028 (64,028 ) — — Total $ 142,975 $ — $ 142,975 $ (106,384 ) $ (12,668 ) $ 23,923 |
Offsetting Liabilities | The following table summarizes our liabilities subject to enforceable master netting arrangements as of March 31, 2017 and December 31, 2016 : 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 Gross Amounts Not Offset in the Statement of Financial Position But Subject to Master Netting Arrangements Net Amount (Dollars in thousands) Financial Instruments Cash Collateral Pledged March 31, 2017 Derivative Liabilities: Foreign exchange forwards $ 41,296 $ — $ 41,296 $ (22,246 ) $ — $ 19,050 Foreign currency options 3,861 — 3,861 (3,298 ) — 563 Client interest rate derivatives 10,592 — 10,592 (10,592 ) — — Total derivative liabilities: 55,749 — 55,749 (36,136 ) — 19,613 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 55,749 $ — $ 55,749 $ (36,136 ) $ — $ 19,613 December 31, 2016 Derivative Liabilities: Foreign exchange forwards $ 44,285 $ — $ 44,285 $ (17,964 ) $ — $ 26,321 Foreign currency options 10,383 — 10,383 (1,585 ) — 8,798 Client interest rate derivatives 9,770 — 9,770 (9,770 ) — — Total derivative liabilities: 64,438 — 64,438 (29,319 ) — 35,119 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 64,438 $ — $ 64,438 $ (29,319 ) $ — $ 35,119 |
Other Noninterest Income and 33
Other Noninterest Income and Other Noninterest Expense (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Other Income and Expenses [Abstract] | |
Summary of Other Noninterest Income | A summary of other noninterest income for the three months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Fund management fees $ 5,169 $ 4,620 Service-based fee income 1,895 2,092 Gains on revaluation of client foreign currency instruments, net (1) 2,754 3,653 Losses on client foreign exchange forward contracts, net (1) (2,289 ) (5,654 ) Gains on revaluation of internal foreign currency instruments, net (2) 4,108 2,491 Losses on internal foreign exchange forward contracts, net (2) (3,245 ) (2,208 ) Other (3) 4,029 2,676 Total other noninterest income $ 12,421 $ 7,670 (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. (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. (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 months ended March 31, 2017 and 2016 is as follows: Three months ended March 31, (Dollars in thousands) 2017 2016 Lending and other client related processing costs $ 5,539 $ 4,295 Telephone 2,703 2,233 Data processing services 2,582 1,829 Dues and publications 795 802 Postage and supplies 749 790 Other 3,839 4,844 Total other noninterest expense $ 16,207 $ 14,793 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting | Our segment information for the three months ended March 31, 2017 and 2016 is as follows: (Dollars in thousands) Global Commercial Bank (1) SVB Private Bank SVB Capital (1) Other Items (2) Total Three months ended March 31, 2017 Net interest income $ 275,684 $ 13,610 $ — $ 20,699 $ 309,993 Provision for credit losses (28,889 ) (790 ) — (1,055 ) (30,734 ) Noninterest income 79,519 718 16,775 20,647 117,659 Noninterest expense (3) (172,374 ) (3,919 ) (3,472 ) (57,868 ) (237,633 ) Income (loss) before income tax expense (4) $ 153,940 $ 9,619 $ 13,303 $ (17,577 ) $ 159,285 Total average loans, net of unearned income $ 17,647,055 $ 2,245,317 $ — $ 176,942 $ 20,069,314 Total average assets (5) 42,888,336 2,259,018 372,876 (219,196 ) 45,301,034 Total average deposits 38,296,563 1,336,849 — 325,123 39,958,535 Three months ended March 31, 2016 Net interest income $ 256,178 $ 13,672 $ — $ 11,571 $ 281,421 Provision for credit losses (32,703 ) (638 ) — (134 ) (33,475 ) Noninterest income 74,759 627 2,453 8,295 86,134 Noninterest expense (3) (154,787 ) (3,405 ) (3,913 ) (41,794 ) (203,899 ) Income before income tax expense (4) $ 143,447 $ 10,256 $ (1,460 ) $ (22,062 ) $ 130,181 Total average loans, net of unearned income $ 14,919,735 $ 1,871,820 $ — $ 220,880 $ 17,012,435 Total average assets (5) 41,533,434 1,893,413 349,011 414,332 44,190,190 Total average deposits 37,837,645 1,130,736 — 299,748 39,268,129 (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 $6.1 million and $5.7 million for the three months ended March 31, 2017 and 2016 , 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 Arrangement35
Off-Balance Sheet Arrangements, Guarantees and Other Commitments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 and December 31, 2016 : (Dollars in thousands) March 31, 2017 December 31, 2016 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,452,107 $ 1,475,179 Variable interest rate commitments 12,950,544 13,572,161 Total loan commitments available for funding 14,402,651 15,047,340 Commercial and standby letters of credit (2) 1,679,680 1,695,856 Total unfunded credit commitments $ 16,082,331 $ 16,743,196 Commitments unavailable for funding (3) $ 1,952,726 $ 1,719,524 Maximum lending limits for accounts receivable factoring arrangements (4) 686,553 725,395 Allowance for unfunded credit commitments (5) 46,335 45,265 (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 allowance 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 March 31, 2017 . 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 $ 1,519,329 $ 45,306 $ 1,564,635 $ 1,564,635 Performance standby letters of credit 89,155 7,890 97,045 97,045 Commercial letters of credit 18,000 — 18,000 18,000 Total $ 1,626,484 $ 53,196 $ 1,679,680 $ 1,679,680 |
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 March 31, 2017 : Our Ownership in Venture Capital and Private Equity Funds (Dollars in thousands) SVBFG Capital Commitments SVBFG Unfunded Commitments SVBFG Ownership of each Fund (3) CP I, LP $ 6,000 $ 270 10.7 % CP II, LP (1) 1,200 162 5.1 Shanghai Yangpu Venture Capital Fund (LP) 842 — 6.8 Strategic Investors Fund, LP 15,300 688 12.6 Strategic Investors Fund II, LP 15,000 1,050 8.6 Strategic Investors Fund III, LP 15,000 1,275 5.9 Strategic Investors Fund IV, LP 12,239 2,325 5.0 Strategic Investors Fund V funds 515 141 Various Capital Preferred Return Fund, LP 12,688 — 20.0 Growth Partners, LP 24,670 1,340 33.0 Debt funds (equity method accounting) 58,493 — Various Other fund investments (2) 306,269 10,441 Various Total $ 468,216 $ 17,692 (1) Our ownership includes direct ownership of 1.3 percent and indirect ownership interest of 3.8 percent through our investment in Strategic Investors Fund II, LP. (2) Represents commitments to 255 funds (primarily venture capital funds) where our ownership interest is generally less than 5 percent of the voting interests of each such fund. (3) 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 2016 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 March 31, 2017 : Limited Partnership (Dollars in thousands) Unfunded Commitments Strategic Investors Fund, LP $ 1,338 Capital Preferred Return Fund, LP 1,723 Growth Partners, LP 1,524 Total $ 4,585 |
Fair Value of Financial Instr36
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2017 Assets Available-for-sale securities: U.S. Treasury securities $ 8,206,090 $ — $ — $ 8,206,090 U.S. agency debentures — 2,077,813 — 2,077,813 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,650,329 — 1,650,329 Agency-issued collateralized mortgage obligations - variable rate — 445,581 — 445,581 Equity securities 744 3,450 — 4,194 Total available-for-sale securities 8,206,834 4,177,173 — 12,384,007 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 139,715 Other venture capital investments (1) — — 2,040 2,040 Other securities (1) 646 — — 646 Total non-marketable and other securities (fair value accounting) 646 — 2,040 142,401 Other assets: Interest rate swaps — 318 — 318 Foreign exchange forward and option contracts — 54,911 — 54,911 Equity warrant assets — 2,034 122,199 124,233 Client interest rate derivatives — 10,702 — 10,702 Total assets $ 8,207,480 $ 4,245,138 $ 124,239 $ 12,716,572 Liabilities Foreign exchange forward and option contracts $ — $ 45,157 $ — $ 45,157 Client interest rate derivatives — 10,592 — 10,592 Total liabilities $ — $ 55,749 $ — $ 55,749 (1) 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, 2016 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2016 Assets Available-for-sale securities: U.S. Treasury securities $ 8,909,491 $ — $ — $ 8,909,491 U.S. agency debentures — 2,078,375 — 2,078,375 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations - fixed rate — 1,152,665 — 1,152,665 Agency-issued collateralized mortgage obligations - variable rate — 474,283 — 474,283 Equity securities 175 5,422 — 5,597 Total available-for-sale securities 8,909,666 3,710,745 — 12,620,411 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 141,649 Other venture capital investments (1) — — 2,040 2,040 Other securities (1) 753 — — 753 Total non-marketable and other securities (fair value accounting) 753 — 2,040 144,442 Other assets: Interest rate swaps — 810 — 810 Foreign exchange forward and option contracts — 68,027 — 68,027 Equity warrant assets — 2,310 128,813 131,123 Client interest rate derivatives — 10,110 — 10,110 Total assets $ 8,910,419 $ 3,792,002 $ 130,853 $ 12,974,923 Liabilities Foreign exchange forward and option contracts $ — $ 54,668 $ — $ 54,668 Client interest rate derivatives — 9,770 — 9,770 Total liabilities $ — $ 64,438 $ — $ 64,438 (1) Included in Level 1 and Level 3 assets are $0.6 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 months ended March 31, 2017 and 2016 , 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 March 31, 2017 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ — $ — $ — $ — $ — $ 2,040 Other assets: Equity warrant assets (2) 128,813 6,609 (17,086 ) 4,030 — (167 ) 122,199 Total assets $ 130,853 $ 6,609 $ (17,086 ) $ 4,030 $ — $ (167 ) $ 124,239 Three months ended March 31, 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ 2,040 $ (30 ) $ — $ — $ 30 $ — $ 2,040 Other assets: Equity warrant assets (2) 135,168 7,179 (15,416 ) 2,374 — (323 ) 128,982 Total assets $ 137,208 $ 7,149 $ (15,416 ) $ 2,374 $ 30 $ (323 ) $ 131,022 (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 equity warrant assets, 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 March 31, 2017 and 2016 , respectively: Three months ended March 31, (Dollars in thousands) 2017 2016 Non-marketable and other securities (fair value accounting): Other venture capital investments (1) $ — $ — Other assets: Equity warrant assets (2) (347 ) 1,465 Total unrealized (losses) gains, net $ (347 ) $ 1,465 Unrealized (losses) gains attributable to noncontrolling interests $ — $ — (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 equity warrant assets, 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 March 31, 2017 and December 31, 2016. 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 March 31, 2017: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,223 Modified Black-Scholes option pricing model Volatility 40.7 % Risk-Free interest rate 1.8 % Sales restrictions discount (2) 15.1 % Equity warrant assets (private portfolio) 120,976 Modified Black-Scholes option pricing model Volatility 37.1 % Risk-Free interest rate 1.3 % Marketability discount (3) 16.8 % Remaining life assumption (4) 45.0 % December 31, 2016: Other venture capital investments (fair value accounting) $ 2,040 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 764 Modified Black-Scholes option pricing model Volatility 46.6 % Risk-Free interest rate 2.1 % Sales restrictions discount (2) 17.7 % Equity warrant assets (private portfolio) 128,049 Modified Black-Scholes option pricing model Volatility 36.9 % Risk-Free interest rate 1.3 % Marketability discount (3) 17.1 % 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. We use company provided valuation reports, if available, to support our valuation assumptions. 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 percent to 20 percent depending on the duration of the sales restrictions, which typically range from three to six 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 March 31, 2017 , the weighted average contractual remaining term was 5.9 years, compared to our estimated remaining life of 2.6 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 March 31, 2017 and December 31, 2016 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 March 31, 2017: Financial assets: Cash and cash equivalents $ 3,795,679 $ 3,795,679 $ 3,795,679 $ — $ — Held-to-maturity securities 8,615,695 8,567,817 — 8,567,817 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 121,108 125,650 — — 125,650 Non-marketable securities (cost and equity method accounting) measured at net asset value 239,275 346,890 — — — Net commercial loans 17,953,251 18,165,969 — — 18,165,969 Net consumer loans 2,231,070 2,267,387 — — 2,267,387 FHLB and Federal Reserve Bank stock 57,592 57,592 — — 57,592 Accrued interest receivable 110,949 110,949 — 110,949 — Financial liabilities: Other short-term borrowings 5,163 5,163 5,163 — — Non-maturity deposits (1) 41,038,552 41,038,552 41,038,552 — — Time deposits 41,148 40,982 — 40,982 — 3.50% Senior Notes 347,059 340,582 — 340,582 — 5.375% Senior Notes 347,733 379,236 — 379,236 — 6.05% Subordinated Notes (2) 46,223 46,587 — 46,587 — 7.0% Junior Subordinated Debentures 54,450 54,021 — 54,021 — Accrued interest payable 4,990 4,990 — 4,990 — Off-balance sheet financial assets: Commitments to extend credit — 21,127 — — 21,127 December 31, 2016: Financial assets: Cash and cash equivalents $ 2,545,750 $ 2,545,750 $ 2,545,750 $ — $ — Held-to-maturity securities 8,426,998 8,376,138 — 8,376,138 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 120,037 127,343 — — 127,343 Non-marketable securities (cost and equity method accounting) measured at net asset value 245,626 353,870 — — — Net commercial loans 17,518,430 17,811,356 — — 17,811,356 Net consumer loans 2,156,148 2,199,501 — — 2,199,501 FHLB and Federal Reserve Bank stock 57,592 57,592 — — 57,592 Accrued interest receivable 111,222 111,222 — 111,222 — Financial liabilities: Short-term FHLB advances 500,000 500,000 500,000 — — Other short-term borrowings 12,668 12,668 12,668 — — Non-maturity deposits (1) 38,923,750 38,923,750 38,923,750 — — Time deposits 56,118 55,949 — 55,949 — 3.50% Senior Notes 346,979 337,600 — 337,600 — 5.375% Senior Notes 347,586 378,777 — 378,777 — 6.05% Subordinated Notes (2) 46,646 47,489 — 47,489 — 7.0% Junior Subordinated Debentures 54,493 53,140 — 53,140 — Accrued interest payable 12,013 12,013 — 12,013 — Off-balance sheet financial assets: Commitments to extend credit — 22,074 — — 22,074 (1) Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. (2) At March 31, 2017 and December 31, 2016 , included in the carrying value and estimated fair value of our 6.05% Subordinated Notes was an interest rate swap valued at $0.3 million and $0.8 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 March 31, 2017 : (Dollars in thousands) Carrying Amount Fair Value Unfunded Commitments Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 139,715 $ 139,715 $ 4,585 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (2) 85,529 85,529 4,953 Debt funds (2) 16,509 17,676 — Other investments (2) 19,994 19,994 715 Non-marketable securities (cost method accounting): Venture capital and private equity fund investments (2) 117,243 223,691 9,633 Total $ 378,990 $ 486,605 $ 19,886 (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 $103.9 million and $3.5 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. |
Basis of Presentation Recent Ac
Basis of Presentation Recent Accounting Pronouncements (Details) - AccountingStandardsUpdate2016-09 [Domain] $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)$ / shares | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | $ | $ 6.1 |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Diluted Earnings Per Share | $ / shares | $ 0.12 |
Stockholders' Equity and EPS -
Stockholders' Equity and EPS - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||
Related tax expense (benefit) | $ (51,405) | [1] | $ (53,584) |
Net income available to common stockholders | 101,483 | [1] | 79,174 |
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 (gains) losses included in net income | (608) | 746 | |
Related tax expense (benefit) | 248 | (304) | |
Net income available to common stockholders | $ (360) | $ 442 | |
[1] | Included in income tax expense, net income available to common shareholders, earnings per common share-basic and earnings for common share-diluted, for the three months ended March 31, 2017, are tax benefits recognized associated with the adoption of Accounting Standards Update ("ASU") 2016-09, Improvements to Employee Share-Based Payment Accounting in the first quarter of 2017. This guidance was adopted on a prospective basis with no change to prior period amounts. |
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 | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Numerator: | |||
Net income available to common stockholders | $ 101,483 | [1] | $ 79,174 |
Denominator: | |||
Weighted average common shares outstanding-basic (in shares) | 52,344 | 51,646 | |
Denominator for diluted calculation (in shares) | 53,179 | 52,085 | |
Earnings per common share: | |||
Basic (dollars per share) | $ 1.94 | [1] | $ 1.53 |
Diluted (dollars per share) | $ 1.91 | [1] | $ 1.52 |
Stock options and ESPP | |||
Denominator: | |||
Weighted average effect of dilutive securities (in shares) | 440 | 264 | |
Restricted stock units | |||
Denominator: | |||
Weighted average effect of dilutive securities (in shares) | 395 | 175 | |
[1] | Included in income tax expense, net income available to common shareholders, earnings per common share-basic and earnings for common share-diluted, for the three months ended March 31, 2017, are tax benefits recognized associated with the adoption of Accounting Standards Update ("ASU") 2016-09, Improvements to Employee Share-Based Payment Accounting in the first quarter of 2017. This guidance was adopted on a prospective basis with no change to prior period amounts. |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 21 | 365 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 0 | 351 |
Restricted stock units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 21 | 14 |
Share-Based Compensation - Shar
Share-Based Compensation - Share Based Compensation and Related Tax Benefits (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Share-based compensation expense | $ 9,203 | $ 6,877 |
Income tax benefit related to share-based compensation expense | $ (3,015) | $ (2,117) |
Share-Based Compensation - Unre
Share-Based Compensation - Unrecognized Compensation Expense (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 50,711 |
Stock options | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 8,005 |
Average Expected Recognition Period - in Years | 2 years 3 months 7 days |
Restricted stock units | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 42,706 |
Average Expected Recognition Period - in Years | 2 years 6 months |
Share-Based Compensation - Sh43
Share-Based Compensation - Share-Based Payment Award Activity (Detail) | 3 Months Ended |
Mar. 31, 2017USD ($)$ / sharesshares | |
Options | |
Outstanding, beginning of period, in shares | shares | 1,010,557 |
Exercised, in shares | shares | (140,698) |
Forfeited, in shares | shares | (1,605) |
Outstanding, end of period, in shares | shares | 868,254 |
Vested and expected to vest, end of period, in shares | shares | 848,536 |
Exercisable, end of period, in shares | shares | 442,135 |
Weighted Average Exercise Price | |
Outstanding, beginning of period, in usd per share | $ / shares | $ 87.24 |
Exercised, in usd per share | $ / shares | 65.76 |
Forfeited, in usd per share | $ / shares | 93.18 |
Outstanding, end of period, in usd per share | $ / shares | 90.71 |
Vested and expected to vest, end of period, in usd per share | $ / shares | 90.25 |
Exercisable, end of period, in usd per share | $ / shares | $ 76.45 |
Weighted Average Remaining Contractual Life - in Years | |
Outstanding, end of period | 3 years 9 months 18 days |
Vested and expected to vest, end of period | 3 years 9 months 4 days |
Exercisable, end of period | 2 years 8 months 9 days |
Aggregate Intrinsic Value of In-The-Money Options | |
Outstanding, end of period | $ | $ 82,818,255 |
Vested and expected to vest, end of period | $ | 81,319,775 |
Exercisable, end of period | $ | $ 48,474,704 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Closing stock price | $ 186.09 | |
Total intrinsic value of options exercised | $ 16.5 | $ 2 |
Share-Based Compensation - Info
Share-Based Compensation - Information for Restricted Stock Units under Equity Incentive Plan (Detail) - Restricted stock units | 3 Months Ended |
Mar. 31, 2017$ / sharesshares | |
Shares | |
Nonvested, beginning of period, in shares | shares | 670,969 |
Granted, in shares | shares | 54,240 |
Vested, in shares | shares | (36,414) |
Forfeited, in shares | shares | (9,263) |
Nonvested, end of period, in shares | shares | 679,532 |
Weighted Average Grant Date Fair Value | |
Nonvested, beginning of period, in usd per share | $ / shares | $ 106.64 |
Granted, in usd per share | $ / shares | 185.72 |
Vested, in usd per share | $ / shares | 105.65 |
Forfeited, in usd per share | $ / shares | 107.70 |
Nonvested, end of period, in usd per share | $ / shares | $ 112.99 |
Variable Interest Entities - Ca
Variable Interest Entities - Carrying Amounts and Classification of Significant Variable Interests (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | $ 3,795,679 | $ 2,545,750 | $ 1,868,512 | $ 1,503,257 |
Non-marketable and other securities | 635,550 | 622,552 | ||
Amortization Method Qualified Affordable Housing Project Investments | 132,766 | 112,447 | 112,400 | |
Accrued interest receivable and other assets | 675,783 | 672,688 | ||
Total assets | 46,413,339 | 44,683,660 | ||
Total liabilities | 42,509,883 | 40,906,623 | ||
Maximum exposure to loss in unconsolidated VIEs | 326,169 | 314,810 | ||
Qualified Affordable Housing Project Investments, Commitment | 81,650 | 58,095 | $ 58,095 | |
Consolidated | ||||
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | 10,959 | 11,469 | ||
Non-marketable and other securities | 196,708 | 196,140 | ||
Accrued interest receivable and other assets | 236 | 294 | ||
Total assets | 207,903 | 207,903 | ||
Total liabilities | 387 | 517 | ||
Maximum exposure to loss in unconsolidated VIEs | 207,500 | |||
Accrued Liabilities and Other Liabilities | 387 | 517 | ||
Unconsolidated | ||||
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Non-marketable and other securities | 326,169 | 314,810 | ||
Accrued interest receivable and other assets | 0 | 0 | ||
Total assets | 326,169 | 314,810 | ||
Total liabilities | $ 81,650 | $ 58,095 |
Variable Interest Entities - Ad
Variable Interest Entities - Additional Information (Details) $ in Thousands | Mar. 31, 2017USD ($)entity | Dec. 31, 2016USD ($) |
Variable Interest Entity [Line Items] | ||
Number of consolidated entities | entity | 4 | |
Maximum exposure to loss in unconsolidated VIEs | $ 326,169 | $ 314,810 |
Consolidated | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss in unconsolidated VIEs | $ 207,500 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents [Abstract] | ||||
Cash and due from banks | $ 3,612,954 | $ 2,476,588 | ||
Securities purchased under agreements to resell | 178,037 | 64,028 | ||
Other short-term investment securities | 4,688 | 5,134 | ||
Total cash and cash equivalents | $ 3,795,679 | $ 2,545,750 | $ 1,868,512 | $ 1,503,257 |
Cash and Cash Equivalents (Addi
Cash and Cash Equivalents (Additional Information) (Detail) - USD ($) $ in Millions | Mar. 31, 2017 | Mar. 31, 2016 |
Cash and Cash Equivalents [Abstract] | ||
Deposits at the Federal Reserve Bank earning interest at the Federal Funds target rate | $ 2,400 | $ 1,100 |
Interest-earning deposits in other financial institutions | 773 | 721 |
Fair value of securities purchased under agreements to resell | $ 182 | $ 66 |
Investment Securities - Major C
Investment Securities - Major Components of Investment Securities Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Investment Holdings [Line Items] | ||
Amortized Cost | $ 12,360,744 | $ 12,588,783 |
Unrealized Gains | 41,446 | 49,245 |
Unrealized Losses | (18,183) | (17,617) |
Carrying Value | 12,384,007 | 12,620,411 |
U.S. treasury securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 8,182,666 | 8,880,358 |
Unrealized Gains | 24,878 | 30,323 |
Unrealized Losses | (1,454) | (1,190) |
Carrying Value | 8,206,090 | 8,909,491 |
U.S. agency debentures | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 2,066,507 | 2,065,535 |
Unrealized Gains | 12,763 | 14,443 |
Unrealized Losses | (1,457) | (1,603) |
Carrying Value | 2,077,813 | 2,078,375 |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 1,661,505 | 1,163,017 |
Unrealized Gains | 2,707 | 3,046 |
Unrealized Losses | (13,883) | (13,398) |
Carrying Value | 1,650,329 | 1,152,665 |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 445,575 | 474,238 |
Unrealized Gains | 668 | 685 |
Unrealized Losses | (662) | (640) |
Carrying Value | 445,581 | 474,283 |
Equity securities | ||
Investment Holdings [Line Items] | ||
Amortized Cost | 4,491 | 5,635 |
Unrealized Gains | 430 | 748 |
Unrealized Losses | (727) | (786) |
Carrying Value | $ 4,194 | $ 5,597 |
Investment Securities - Summary
Investment Securities - Summary of Unrealized Losses on Available for Sale Securities (Detail) $ in Thousands | Mar. 31, 2017USD ($)Investment | Dec. 31, 2016USD ($) | Mar. 31, 2016Investment |
Investments, Unrealized Loss Position [Line Items] | |||
Less than 12 months - Fair Value of Investments | $ 2,916,041 | $ 2,290,037 | |
Less than 12 months - Unrealized Losses | (11,699) | (10,896) | |
12 months or longer - Fair Value of Investments | 262,971 | 233,548 | |
12 months or longer - Unrealized Losses | (6,484) | (6,721) | |
Fair Value of Investments | 3,179,012 | 2,523,585 | |
Unrealized Losses | $ (18,183) | (17,617) | |
Number of investments in unrealized loss position | Investment | 189 | 174 | |
Number of investments with unrealized losses greater than 12 months | Investment | 36 | 20 | |
U.S. treasury securities | |||
Investments, Unrealized Loss Position [Line Items] | |||
Less than 12 months - Fair Value of Investments | $ 1,377,573 | 879,255 | |
Less than 12 months - Unrealized Losses | (1,454) | (1,190) | |
12 months or longer - Fair Value of Investments | 0 | 0 | |
12 months or longer - Unrealized Losses | 0 | 0 | |
Fair Value of Investments | 1,377,573 | 879,255 | |
Unrealized Losses | (1,454) | (1,190) | |
U.S. agency debentures | |||
Investments, Unrealized Loss Position [Line Items] | |||
Less than 12 months - Fair Value of Investments | 513,209 | 513,198 | |
Less than 12 months - Unrealized Losses | (1,457) | (1,603) | |
12 months or longer - Fair Value of Investments | 0 | 0 | |
12 months or longer - Unrealized Losses | 0 | 0 | |
Fair Value of Investments | 513,209 | 513,198 | |
Unrealized Losses | (1,457) | (1,603) | |
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 | 843,542 | 635,566 | |
Less than 12 months - Unrealized Losses | (7,607) | (6,704) | |
12 months or longer - Fair Value of Investments | 214,507 | 227,480 | |
12 months or longer - Unrealized Losses | (6,276) | (6,694) | |
Fair Value of Investments | 1,058,049 | 863,046 | |
Unrealized Losses | (13,883) | (13,398) | |
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 | 179,675 | 258,325 | |
Less than 12 months - Unrealized Losses | (454) | (613) | |
12 months or longer - Fair Value of Investments | 48,464 | 6,068 | |
12 months or longer - Unrealized Losses | (208) | (27) | |
Fair Value of Investments | 228,139 | 264,393 | |
Unrealized Losses | (662) | (640) | |
Equity securities | |||
Investments, Unrealized Loss Position [Line Items] | |||
Less than 12 months - Fair Value of Investments | 2,042 | 3,693 | |
Less than 12 months - Unrealized Losses | (727) | (786) | |
12 months or longer - Fair Value of Investments | 0 | 0 | |
12 months or longer - Unrealized Losses | 0 | 0 | |
Fair Value of Investments | 2,042 | 3,693 | |
Unrealized Losses | $ (727) | $ (786) |
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) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Available-for-sale Securities | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 12,379,813 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 2,821,471 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 7,462,432 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 622,312 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 1,473,598 |
Available-for-sale Securities | U.S. treasury securities | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | 8,206,090 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 2,321,436 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 5,884,654 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 0 |
Available-for-sale Securities | U.S. agency debentures | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | 2,077,813 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 500,035 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 1,577,778 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 0 |
Available-for-sale Securities | 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 | 1,650,329 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 622,312 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 1,028,017 |
Available-for-sale Securities | 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 | 445,581 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 0 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | $ 445,581 |
Lower Limit | Held-to-maturity Securities [Member] | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Mortgage-backed securities contractual maturities (in years) | 10 years |
Upper Limit | Held-to-maturity Securities [Member] | |
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 | Mar. 31, 2017USD ($)Investment | Dec. 31, 2016USD ($) | Mar. 31, 2016Investment |
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | $ 8,615,695 | $ 8,426,998 | |
Unrealized Gains | 14,996 | 16,968 | |
Unrealized Losses | (62,874) | (67,828) | |
Fair Value | 8,567,817 | 8,376,138 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 6,254,576 | 5,943,190 | |
Unrealized Losses, Less than 12 months | (55,788) | (60,189) | |
Fair Value of Investments, 12 months or longer | 286,127 | 295,657 | |
Unrealized Losses, 12 months or longer | (7,086) | (7,639) | |
Fair Value of Investments | 6,540,703 | 6,238,847 | |
Unrealized Losses | $ (62,874) | (67,828) | |
Number of held-to-maturity investments with unrealized loss | Investment | 478 | 462 | |
Number of held-to-maturity investments in continuous loss more than 12 months | Investment | 96 | 85 | |
U.S. agency debentures | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | $ 641,421 | 622,445 | |
Unrealized Gains | 7,106 | 7,840 | |
Unrealized Losses | (1,948) | (1,198) | |
Fair Value | 646,579 | 629,087 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 117,916 | 118,721 | |
Unrealized Losses, Less than 12 months | (1,948) | (1,198) | |
Fair Value of Investments, 12 months or longer | 0 | 0 | |
Unrealized Losses, 12 months or longer | 0 | 0 | |
Fair Value of Investments | 117,916 | 118,721 | |
Unrealized Losses | (1,948) | (1,198) | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | 3,020,929 | 2,896,179 | |
Unrealized Gains | 5,498 | 6,919 | |
Unrealized Losses | (16,694) | (24,526) | |
Fair Value | 3,009,733 | 2,878,572 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 2,152,438 | 1,801,861 | |
Unrealized Losses, Less than 12 months | (15,863) | (23,558) | |
Fair Value of Investments, 12 months or longer | 21,350 | 21,917 | |
Unrealized Losses, 12 months or longer | (831) | (968) | |
Fair Value of Investments | 2,173,788 | 1,823,778 | |
Unrealized Losses | (16,694) | (24,526) | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | 3,223,055 | 3,362,598 | |
Unrealized Gains | 638 | 788 | |
Unrealized Losses | (30,595) | (31,274) | |
Fair Value | 3,193,098 | 3,332,112 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 2,749,432 | 2,729,889 | |
Unrealized Losses, Less than 12 months | (25,442) | (25,723) | |
Fair Value of Investments, 12 months or longer | 213,674 | 228,220 | |
Unrealized Losses, 12 months or longer | (5,153) | (5,551) | |
Fair Value of Investments | 2,963,106 | 2,958,109 | |
Unrealized Losses | (30,595) | (31,274) | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | 299,257 | 312,665 | |
Unrealized Gains | 217 | 176 | |
Unrealized Losses | (477) | (1,339) | |
Fair Value | 298,997 | 311,502 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 89,927 | 251,012 | |
Unrealized Losses, Less than 12 months | (469) | (1,339) | |
Fair Value of Investments, 12 months or longer | 3,234 | 0 | |
Unrealized Losses, 12 months or longer | (8) | 0 | |
Fair Value of Investments | 93,161 | 251,012 | |
Unrealized Losses | (477) | (1,339) | |
Agency-issued commercial mortgage-backed securities | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | 1,292,744 | 1,151,363 | |
Unrealized Gains | 1,242 | 1,237 | |
Unrealized Losses | (11,558) | (7,638) | |
Fair Value | 1,282,428 | 1,144,962 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 1,106,777 | 999,440 | |
Unrealized Losses, Less than 12 months | (11,453) | (7,494) | |
Fair Value of Investments, 12 months or longer | 14,225 | 14,934 | |
Unrealized Losses, 12 months or longer | (105) | (144) | |
Fair Value of Investments | 1,121,002 | 1,014,374 | |
Unrealized Losses | (11,558) | (7,638) | |
US States and Political Subdivisions Debt Securities [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized Cost | 138,289 | 81,748 | |
Unrealized Gains | 295 | 8 | |
Unrealized Losses | (1,602) | (1,853) | |
Fair Value | 136,982 | 79,903 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | |||
Fair Value of Investments, Less than 12 months | 38,086 | 42,267 | |
Unrealized Losses, Less than 12 months | (613) | (877) | |
Fair Value of Investments, 12 months or longer | 33,644 | 30,586 | |
Unrealized Losses, 12 months or longer | (989) | (976) | |
Fair Value of Investments | 71,730 | 72,853 | |
Unrealized Losses | $ (1,602) | $ (1,853) |
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 | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 8,615,695 | $ 8,426,998 |
Held-to-maturity securities | 8,567,817 | 8,376,138 |
U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 646,579 | 629,087 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 3,009,733 | 2,878,572 |
Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 1,282,428 | 1,144,962 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 136,982 | 79,903 |
Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 8,615,695 | |
Held-to-maturity securities | 8,567,817 | |
One Year or Less - Amortized Cost | 6,168 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 6,159 | |
After One Year to Five Years - Amortized Cost | 448,231 | |
After Five Years to Ten Years - Amortized Cost | 864,751 | |
After Ten Years - Amortized Cost | 7,297,656 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 7,249,918 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 446,989 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 863,640 | |
Held-to-maturity Securities [Member] | U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 641,421 | |
Held-to-maturity securities | 646,579 | |
One Year or Less - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
After One Year to Five Years - Amortized Cost | 75,459 | |
After Five Years to Ten Years - Amortized Cost | 570,273 | |
After Ten Years - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 76,306 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 565,962 | |
Held-to-maturity Securities [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,020,929 | |
Held-to-maturity securities | 3,009,733 | |
One Year or Less - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
After One Year to Five Years - Amortized Cost | 317,056 | |
After Five Years to Ten Years - Amortized Cost | 76,978 | |
After Ten Years - Amortized Cost | 2,626,412 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 2,617,331 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 315,424 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 77,461 | |
Held-to-maturity Securities [Member] | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
One Year or Less - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
After One Year to Five Years - Amortized Cost | 0 | |
After Five Years to Ten Years - Amortized Cost | 158,587 | |
After Ten Years - Amortized Cost | 3,062,355 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 3,034,511 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 160,700 | |
Held-to-maturity Securities [Member] | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
One Year or Less - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
After One Year to Five Years - Amortized Cost | 0 | |
After Five Years to Ten Years - Amortized Cost | 0 | |
After Ten Years - Amortized Cost | 299,257 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 298,997 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | |
Held-to-maturity Securities [Member] | Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,292,744 | |
Held-to-maturity securities | 1,282,428 | |
One Year or Less - Amortized Cost | 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
After One Year to Five Years - Amortized Cost | 0 | |
After Five Years to Ten Years - Amortized Cost | 0 | |
After Ten Years - Amortized Cost | 1,292,744 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 1,282,428 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 0 | |
Held-to-maturity Securities [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 138,289 | |
Held-to-maturity securities | 136,982 | |
One Year or Less - Amortized Cost | 6,168 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 6,159 | |
After One Year to Five Years - Amortized Cost | 55,716 | |
After Five Years to Ten Years - Amortized Cost | 58,913 | |
After Ten Years - Amortized Cost | 16,888 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 16,651 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 55,259 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | $ 59,517 | |
Lower Limit | Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Mortgage-backed securities contractual maturities (in years) | 10 years | |
Upper Limit | Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Mortgage-backed securities contractual maturities (in years) | 30 years | |
Variable rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | $ 298,997 | 311,502 |
Variable rate | Held-to-maturity Securities [Member] | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 299,257 | |
Held-to-maturity securities | 298,997 | |
Fixed rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 3,193,098 | $ 3,332,112 |
Fixed rate | Held-to-maturity Securities [Member] | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 3,223,055 | |
Held-to-maturity securities | $ 3,193,098 |
Investment Securities - Non-mar
Investment Securities - Non-marketable and Other Securities (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017USD ($)Investment | Mar. 31, 2016USD ($)Investment | Dec. 31, 2016USD ($)Investment | |
Investment Holdings [Line Items] | |||
Total non-marketable and other securities | $ 635,550 | $ 622,552 | |
Upper Limit | |||
Investment Holdings [Line Items] | |||
Equity method investment voting ownership percentage | 5.00% | ||
Fair value accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, fair value accounting | $ 646 | 753 | |
Venture capital and private equity fund investments | Fair value accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, fair value accounting | 139,715 | 141,649 | |
Non-marketable securities, cost method accounting | 223,700 | $ 221,700 | |
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 | $ 18,048 | $ 18,459 | |
Percentage of ownership | 12.60% | 12.60% | |
Venture capital and private equity fund investments | Fair value accounting | SVB Capital Partners II, LP | Direct ownership interest | |||
Investment Holdings [Line Items] | |||
Percentage of ownership | 1.30% | ||
Venture capital and private equity fund investments | Fair value accounting | SVB Capital Partners II, LP | Indirect ownership interest | |||
Investment Holdings [Line Items] | |||
Percentage of ownership | 3.80% | ||
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 | $ 59,225 | $ 57,627 | |
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 | $ 62,442 | $ 59,718 | |
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 | $ 0 | $ 5,845 | |
Percentage of ownership | 0.00% | 58.20% | |
Venture capital and private equity fund investments | Equity method accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 85,529 | $ 82,823 | |
Venture capital and private equity fund investments | Equity method accounting | SVB Strategic Investors Fund II, LP | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 7,540 | $ 7,720 | |
Percentage of ownership | 8.60% | 8.60% | |
Venture capital and private equity fund investments | Equity method accounting | SVB Strategic Investors Fund III, LP | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 20,188 | $ 20,449 | |
Percentage of ownership | 5.90% | 5.90% | |
Venture capital and private equity fund investments | Equity method accounting | SVB Strategic Investors Fund IV, LP | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 26,342 | $ 24,530 | |
Percentage of ownership | 5.00% | 5.00% | |
Venture capital and private equity fund investments | Equity method accounting | Strategic Investors Fund V Funds | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 12,521 | $ 12,029 | |
Venture capital and private equity fund investments | Equity method accounting | SVB Capital Partners II, LP | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 7,568 | $ 7,798 | |
Percentage of ownership | 5.10% | 5.10% | |
Venture capital and private equity fund investments | Equity method accounting | Other investments | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 11,370 | $ 10,297 | |
Venture capital and private equity fund investments | Cost method accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, cost method accounting | $ 117,243 | $ 114,606 | |
Number of investments | Investment | 249 | 267 | 252 |
Other venture capital investments | Fair value accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, fair value accounting | $ 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 | |
Percentage of ownership | 10.70% | 10.70% | |
Debt funds | Equity method accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 16,509 | $ 17,020 | |
Debt funds | Equity method accounting | Gold Hill Capital 2008, LP | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 12,888 | $ 13,557 | |
Percentage of ownership | 15.50% | 15.50% | |
Debt funds | Equity method accounting | Other investments | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 3,621 | $ 3,463 | |
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 | $ 112,665 | 123,514 | |
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 | $ 75,316 | $ 75,296 | |
Percentage of ownership | 50.00% | 50.00% | |
Other investments | Equity method accounting | Other investments | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, equity method accounting | $ 37,349 | $ 48,218 | |
Other investments | Cost method accounting | |||
Investment Holdings [Line Items] | |||
Non-marketable securities, cost method accounting | 28,437 | $ 27,700 | |
Low income housing tax credit funds | |||
Investment Holdings [Line Items] | |||
Tax credits and other tax benefits recognized | 4,692 | $ 4,207 | |
Amortization expense included in provision for income taxes | $ 3,236 | $ 3,612 |
Investment Securities - Compone
Investment Securities - Components of Gains and Losses (Realized and Unrealized) on Investment Securities (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017USD ($)Investment | Mar. 31, 2016USD ($)Investment | Dec. 31, 2016Investment | |
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | $ 19,538 | $ 10,389 | |
Gross losses on investment securities | (3,568) | (15,073) | |
Gains (losses) on investment securities, net | 15,970 | (4,684) | |
Cost method accounting | Venture capital and private equity fund investments | |||
Gain (Loss) on Investments [Line Items] | |||
Recognized other-than-temporary impairment (OTTI) losses | $ 100 | $ 200 | |
Number of other-than-temporary impaired investments | Investment | 5 | 10 | |
Number of investments | Investment | 249 | 267 | 252 |
Available-for-sale Securities | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | $ 675 | $ 1,753 | |
Gross losses on investment securities | (67) | (2,499) | |
Non-marketable securities | Fair value accounting | Venture capital and private equity fund investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 7,082 | 2,823 | |
Gross losses on investment securities | (619) | (7,893) | |
Non-marketable securities | Fair value accounting | Other venture capital investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 0 | 8 | |
Gross losses on investment securities | 0 | (38) | |
Non-marketable securities | Fair value accounting | Other securities | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 156 | 63 | |
Gross losses on investment securities | (238) | (157) | |
Non-marketable securities | Equity method accounting | Venture capital and private equity fund investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 3,917 | 1,653 | |
Gross losses on investment securities | (183) | (3,555) | |
Non-marketable securities | Equity method accounting | Debt funds | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 238 | 900 | |
Gross losses on investment securities | (669) | (45) | |
Non-marketable securities | Equity method accounting | Other investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 742 | 851 | |
Gross losses on investment securities | (1,484) | (644) | |
Non-marketable securities | Cost method accounting | Venture capital and private equity fund investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 3,159 | 2,338 | |
Gross losses on investment securities | (112) | (171) | |
Non-marketable securities | Cost method accounting | Other investments | |||
Gain (Loss) on Investments [Line Items] | |||
Gross gains on investment securities | 3,569 | 0 | |
Gross losses on investment securities | $ (196) | $ (71) |
Loans, Allowance for Loan Los57
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Composition of Loans, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unearned income on loans | $ 121,000 | $ 125,000 |
Loans, net of unearned income | 20,427,451 | 19,899,944 |
Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Gross, Commercial, Construction | 103,000 | 110,000 |
Commercial Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 17,396,510 | 16,945,288 |
Commercial Portfolio Segment | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 5,458,203 | 5,627,031 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,097,835 | 1,180,398 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 8,426,831 | 7,691,148 |
Commercial Portfolio Segment | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,735,987 | 1,853,004 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 876,567 | 878,322 |
Commercial Portfolio Segment | Premium wine | Non-real estate secured commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 203,736 | 200,156 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 473,918 | 393,551 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 587,954 | 501,709 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,729,089 | 2,648,621 |
Commercial Real Estate Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 672,831 | 678,166 |
Commercial Real Estate Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,012,977 | 1,926,968 |
Commercial Real Estate Portfolio Segment | Other real estate loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 43,281 | 43,487 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 70,755 | 64,671 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,244,074 | 2,168,332 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,012,977 | 1,926,968 |
Consumer Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 231,097 | $ 241,364 |
Loans, Allowance for Loan Los58
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Composition of Loans, Net of Unearned income (Additional Information) (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 20,427,451 | $ 19,899,944 |
Credit card loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loan portfolio | 242,000 | 224,000 |
Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Gross, Commercial, Construction | 103,000 | 110,000 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,244,074 | 2,168,332 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,012,977 | 1,926,968 |
Consumer Portfolio Segment | Real estate secured loans | Loans for personal residence | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,735,925 | 1,655,349 |
Consumer Portfolio Segment | Real estate secured loans | Loans to eligible employees | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 207,420 | 199,291 |
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 | $ 69,632 | $ 72,328 |
Loans, Allowance for Loan Los59
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Composition of Loans, Net of Unearned Income, Broken Out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Unearned income on loans | $ 121,000 | $ 125,000 |
Loans, net of unearned income | 20,427,451 | 19,899,944 |
Commercial Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 17,396,510 | 16,945,288 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 5,458,203 | 5,627,031 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,097,835 | 1,180,398 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 8,426,831 | 7,691,148 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,735,987 | 1,853,004 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 876,567 | 878,322 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 587,954 | 501,709 |
Commercial and Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 18,183,377 | 17,731,612 |
Consumer Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,244,074 | 2,168,332 |
Consumer Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 231,097 | 241,364 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 2,012,977 | $ 1,926,968 |
Loans, Allowance for Loan Los60
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Aging of Gross Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 130,354 | $ 98,292 |
Current | 20,418,297 | 19,926,370 |
Loans Past Due 90 Days or More Still Accruing Interest | 60 | 33 |
Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 84,906 | 49,025 |
Current | 20,261,129 | 19,741,177 |
Loans Past Due 90 Days or More Still Accruing Interest | 60 | 33 |
Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 45,448 | 49,267 |
Current | 157,168 | 185,193 |
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 | 81,643 | 81,575 |
30 - 59 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 76,755 | 46,939 |
30 - 59 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4,888 | 34,636 |
60 - 89 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 10,298 | 5,504 |
60 - 89 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 8,091 | 2,053 |
60 - 89 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2,207 | 3,451 |
Greater Than 90 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 38,413 | 11,213 |
Greater Than 90 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 60 | 33 |
Greater Than 90 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 38,353 | 11,180 |
Commercial Portfolio Segment | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 30,296 | 38,255 |
Current | 5,350,664 | 5,507,575 |
Loans Past Due 90 Days or More Still Accruing Interest | 38 | 6 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7,430 | 5,654 |
Current | 1,071,772 | 1,118,065 |
Loans Past Due 90 Days or More Still Accruing Interest | 20 | 27 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 37,113 | 689 |
Current | 8,399,895 | 7,747,222 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 730 | 834 |
Current | 1,743,014 | 1,827,490 |
Loans Past Due 90 Days or More Still Accruing Interest | 2 | 0 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4,238 | 1,007 |
Current | 869,106 | 876,185 |
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 | 1,984 | 334 |
Current | 591,996 | 504,021 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Commercial Portfolio Segment | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 81,791 | 46,773 |
Current | 18,026,447 | 17,580,558 |
Loans Past Due 90 Days or More Still Accruing Interest | 60 | 33 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 26,927 | 37,087 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7,406 | 5,591 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 33,878 | 689 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 708 | 283 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,037 | 1,003 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,684 | 34 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 73,640 | 44,687 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,331 | 1,162 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4 | 36 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,235 | 0 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 20 | 551 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,201 | 4 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 300 | 300 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 8,091 | 2,053 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 38 | 6 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 20 | 27 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 2 | 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 | 0 | 0 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 60 | 33 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,115 | 850 |
Current | 2,005,869 | 1,923,266 |
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 | 0 | 1,402 |
Current | 228,813 | 237,353 |
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 | 3,115 | 2,252 |
Current | 2,234,682 | 2,160,619 |
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 | 3,115 | 850 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 1,402 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3,115 | 2,252 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
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, Allowance for Loan Los61
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Impaired Loans and Allowance for Loan Losses, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | $ 202,616 | $ 234,460 |
Total unpaid principal of impaired loans | 219,909 | 250,692 |
Impaired loans for which there is a related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 198,342 | 233,370 |
Impaired loans for which there is no related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 4,274 | 1,090 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 124,836 | 122,748 |
Total unpaid principal of impaired loans | 132,588 | 129,648 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 29,533 | 65,395 |
Total unpaid principal of impaired loans | 34,307 | 70,683 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 346 | 0 |
Total unpaid principal of impaired loans | 346 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 39,293 | 38,361 |
Total unpaid principal of impaired loans | 42,478 | 41,130 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 3,321 | 3,187 |
Total unpaid principal of impaired loans | 3,321 | 3,187 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,659 | 867 |
Total unpaid principal of impaired loans | 1,953 | 867 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 198,988 | 230,558 |
Total unpaid principal of impaired loans | 214,993 | 245,515 |
Commercial Portfolio Segment | Impaired loans for which there is a related allowance for loan losses | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 123,305 | 121,658 |
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 | 27,531 | 65,395 |
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 | 346 | 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 | 38,552 | 38,361 |
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 | 3,321 | 3,187 |
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 | 1,659 | 867 |
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 | 194,714 | 229,468 |
Commercial Portfolio Segment | Impaired loans for which there is no related allowance for loan losses | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,531 | 1,090 |
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 | 2,002 | 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 | 741 | 0 |
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 | 0 |
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 | 4,274 | 1,090 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,480 | 1,504 |
Total unpaid principal of impaired loans | 2,768 | 2,779 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 2,148 | 2,398 |
Total unpaid principal of impaired loans | 2,148 | 2,398 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 3,628 | 3,902 |
Total unpaid principal of impaired loans | 4,916 | 5,177 |
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 | 1,480 | 1,504 |
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 | 2,148 | 2,398 |
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 | 3,628 | 3,902 |
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, Allowance for Loan Los62
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | $ 191,236 | $ 159,676 |
Interest income on impaired loans | 1,196 | 975 |
Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 358 | 0 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 109,916 | 89,367 |
Interest income on impaired loans | 422 | 421 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 34,110 | 24,426 |
Interest income on impaired loans | 572 | 397 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Interest income on impaired loans | 2 | 0 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 38,942 | 39,690 |
Interest income on impaired loans | 150 | 133 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 3,213 | 2,171 |
Interest income on impaired loans | 38 | 17 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 1,061 | 3,853 |
Interest income on impaired loans | 4 | 7 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 187,600 | 159,507 |
Interest income on impaired loans | 1,188 | 975 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 1,488 | 135 |
Interest income on impaired loans | 0 | 0 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 2,148 | 34 |
Interest income on impaired loans | 8 | 0 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 3,636 | 169 |
Interest income on impaired loans | $ 8 | $ 0 |
Loans, Allowance for Loan Los63
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Activity in Allowance for Loan Losses Broken out by Portfolio Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Reserve For Unfunded Credit Commitments | $ 46,335 | $ 34,541 | $ 45,265 | $ 34,415 |
Provision for unfunded credit commitments | 1,055 | 134 | ||
Foreign Currency Translation, Unfunded Credit Commitments | 15 | (8) | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 225,366 | 217,613 | ||
Charge-offs | (14,030) | (26,174) | ||
Recoveries | 1,792 | 4,813 | ||
Provision for credit losses | 29,679 | 33,341 | ||
Foreign Currency Translation Adjustments | 323 | 656 | ||
Ending Balance | 243,130 | 230,249 | ||
Commercial Portfolio Segment | Software/internet | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 97,388 | 103,045 | ||
Charge-offs | (7,980) | (22,161) | ||
Recoveries | 1,171 | 3,960 | ||
Provision for credit losses | 18,719 | 21,632 | ||
Foreign Currency Translation Adjustments | 204 | 422 | ||
Ending Balance | 109,502 | 106,898 | ||
Commercial Portfolio Segment | Hardware | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 31,166 | 23,085 | ||
Charge-offs | (4,024) | (1,486) | ||
Recoveries | 267 | 239 | ||
Provision for credit losses | (4,080) | 1,959 | ||
Foreign Currency Translation Adjustments | (45) | 39 | ||
Ending Balance | 23,284 | 23,836 | ||
Commercial Portfolio Segment | Private equity/venture capital | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 50,299 | 35,282 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for credit losses | 6,706 | 8,243 | ||
Foreign Currency Translation Adjustments | 73 | 161 | ||
Ending Balance | 57,078 | 43,686 | ||
Commercial Portfolio Segment | Life science/healthcare | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 25,446 | 36,576 | ||
Charge-offs | (1,732) | (2,395) | ||
Recoveries | 36 | 491 | ||
Provision for credit losses | 7,708 | (4,303) | ||
Foreign Currency Translation Adjustments | 84 | (84) | ||
Ending Balance | 31,542 | 30,285 | ||
Commercial Portfolio Segment | Premium wine | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 4,115 | 5,205 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for credit losses | 226 | 39 | ||
Foreign Currency Translation Adjustments | 2 | 0 | ||
Ending Balance | 4,343 | 5,244 | ||
Commercial Portfolio Segment | Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 4,768 | 4,252 | ||
Charge-offs | (294) | (30) | ||
Recoveries | 297 | 74 | ||
Provision for credit losses | (390) | 5,145 | ||
Foreign Currency Translation Adjustments | (4) | 106 | ||
Ending Balance | 4,377 | 9,547 | ||
Commercial Portfolio Segment | Commercial loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 213,182 | 207,445 | ||
Charge-offs | (14,030) | (26,072) | ||
Recoveries | 1,771 | 4,764 | ||
Provision for credit losses | 28,889 | 32,715 | ||
Foreign Currency Translation Adjustments | 314 | 644 | ||
Ending Balance | 230,126 | 219,496 | ||
Consumer Portfolio Segment | Consumer loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 12,184 | 10,168 | ||
Charge-offs | 0 | (102) | ||
Recoveries | 21 | 49 | ||
Provision for credit losses | 790 | 626 | ||
Foreign Currency Translation Adjustments | 9 | 12 | ||
Ending Balance | $ 13,004 | $ 10,753 |
Loans, Allowance for Loan Los64
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Allowance for Loan Losses Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | $ 56,781 | $ 48,825 |
Individually evaluated for impairment, recorded investment in loans | 202,616 | 234,460 |
Collectively evaluated for impairment, allowance for loan losses | 186,349 | 176,541 |
Collectively evaluated for impairment, allowance for loan losses | 20,224,835 | 19,665,484 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 38,563 | 28,245 |
Individually evaluated for impairment, recorded investment in loans | 124,836 | 122,748 |
Collectively evaluated for impairment, allowance for loan losses | 70,939 | 69,143 |
Collectively evaluated for impairment, allowance for loan losses | 5,333,367 | 5,504,283 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 2,674 | 9,995 |
Individually evaluated for impairment, recorded investment in loans | 29,533 | 65,395 |
Collectively evaluated for impairment, allowance for loan losses | 20,610 | 21,171 |
Collectively evaluated for impairment, allowance for loan losses | 1,068,302 | 1,115,003 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 35 | 0 |
Individually evaluated for impairment, recorded investment in loans | 346 | 0 |
Collectively evaluated for impairment, allowance for loan losses | 57,043 | 50,299 |
Collectively evaluated for impairment, allowance for loan losses | 8,426,485 | 7,691,148 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 13,580 | 8,709 |
Individually evaluated for impairment, recorded investment in loans | 39,293 | 38,361 |
Collectively evaluated for impairment, allowance for loan losses | 17,962 | 16,737 |
Collectively evaluated for impairment, allowance for loan losses | 1,696,694 | 1,814,643 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 513 | 520 |
Individually evaluated for impairment, recorded investment in loans | 3,321 | 3,187 |
Collectively evaluated for impairment, allowance for loan losses | 3,830 | 3,595 |
Collectively evaluated for impairment, allowance for loan losses | 873,246 | 875,135 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 342 | 233 |
Individually evaluated for impairment, recorded investment in loans | 1,659 | 867 |
Collectively evaluated for impairment, allowance for loan losses | 4,035 | 4,535 |
Collectively evaluated for impairment, allowance for loan losses | 586,295 | 500,842 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 55,707 | 47,702 |
Individually evaluated for impairment, recorded investment in loans | 198,988 | 230,558 |
Collectively evaluated for impairment, allowance for loan losses | 174,419 | 165,480 |
Collectively evaluated for impairment, allowance for loan losses | 17,984,389 | 17,501,054 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 1,074 | 1,123 |
Individually evaluated for impairment, recorded investment in loans | 3,628 | 3,902 |
Collectively evaluated for impairment, allowance for loan losses | 11,930 | 11,061 |
Collectively evaluated for impairment, allowance for loan losses | $ 2,240,446 | $ 2,164,430 |
Loans, Allowance for Loan Los65
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Credit Quality Indicators, Broken out by Portfolio Segment and Class of Financing Receivables (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 20,548,651 | $ 20,024,662 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 19,475,269 | 18,864,595 |
Performing (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 870,766 | 925,607 |
Performing Impaired (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 63,852 | 115,481 |
Nonperforming Impaired (Nonaccrual) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 138,764 | 118,979 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 5,505,796 | 5,668,578 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,108,735 | 1,189,114 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 8,437,354 | 7,747,911 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,783,037 | 1,866,685 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 876,665 | 880,379 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 595,639 | 505,222 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 18,307,226 | 17,857,889 |
Commercial Portfolio Segment | Pass | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 4,858,104 | 4,924,923 |
Commercial Portfolio Segment | Pass | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 938,269 | 985,889 |
Commercial Portfolio Segment | Pass | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 8,436,841 | 7,747,317 |
Commercial Portfolio Segment | Pass | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,588,709 | 1,707,499 |
Commercial Portfolio Segment | Pass | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 854,409 | 865,354 |
Commercial Portfolio Segment | Pass | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 573,527 | 480,845 |
Commercial Portfolio Segment | Pass | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 17,249,859 | 16,711,827 |
Commercial Portfolio Segment | Performing (Criticized) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 522,856 | 620,907 |
Commercial Portfolio Segment | Performing (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 140,933 | 137,830 |
Commercial Portfolio Segment | Performing (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 167 | 594 |
Commercial Portfolio Segment | Performing (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 155,035 | 120,825 |
Commercial Portfolio Segment | Performing (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 18,935 | 11,838 |
Commercial Portfolio Segment | Performing (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 20,453 | 23,510 |
Commercial Portfolio Segment | Performing (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 858,379 | 915,504 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 25,165 | 46,143 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 27,464 | 58,814 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 346 | 0 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 7,153 | 6,578 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,831 | 2,696 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 357 | 464 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 63,316 | 114,695 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 99,671 | 76,605 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,069 | 6,581 |
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 | 32,140 | 31,783 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 490 | 491 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,302 | 403 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 135,672 | 115,863 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,010,464 | 1,925,620 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 230,961 | 241,153 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,241,425 | 2,166,773 |
Consumer Portfolio Segment | Pass | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,997,248 | 1,914,512 |
Consumer Portfolio Segment | Pass | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 228,162 | 238,256 |
Consumer Portfolio Segment | Pass | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,225,410 | 2,152,768 |
Consumer Portfolio Segment | Performing (Criticized) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 11,736 | 9,604 |
Consumer Portfolio Segment | Performing (Criticized) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 651 | 499 |
Consumer Portfolio Segment | Performing (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 12,387 | 10,103 |
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 | 536 | 786 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 536 | 786 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,480 | 1,504 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,612 | 1,612 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 3,092 | $ 3,116 |
Loans, Allowance for Loan Los66
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Summary of Loans Modified in Troubled Debt Restructurings ("TDRs") by Portfolio Segment and Class of Financing Receivables (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($)troubled_debt_restructuring | Dec. 31, 2016USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 21 | ||
Loans modified in TDRs | $ 95,413 | $ 96,059 | |
Modifications, Unfunded Commitments Available For Funding | 2,900 | ||
Loans classified as TDRs, charge-offs | 6,200 | $ 3,800 | |
Financing receivable modifications recorded investment modified during period | 6,309 | 11,359 | |
Software/internet | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 59,419 | 52,646 | |
Financing receivable modifications recorded investment modified during period | 6,309 | 10,854 | |
Hardware | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 10,687 | 14,870 | |
Life science/healthcare | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 21,561 | 24,176 | |
Premium wine | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 3,177 | 3,194 | |
Other | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 33 | 387 | |
Financing receivable modifications recorded investment modified during period | 0 | 505 | |
Other | Consumer Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 536 | 786 | |
Financing receivable modifications recorded investment modified during period | 0 | 0 | |
Commercial loans | |||
Financing Receivable, Modifications [Line Items] | |||
Financing receivable modifications recorded investment modified during period | 6,309 | 11,359 | |
Commercial loans | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 94,877 | 95,273 | |
Consumer loans | Consumer Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 536 | $ 786 | |
Payment deferrals granted | |||
Financing Receivable, Modifications [Line Items] | |||
Financing receivable modifications recorded investment modified during period | 6,300 | $ 2,400 | |
Principal Forgiveness [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing receivable modifications recorded investment modified during period | $ 9,000 |
Loans, Allowance for Loan Los67
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Recorded Investment in Loans Modified in TDRs (Detail) | 3 Months Ended | |
Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($)troubled_debt_restructuring | |
Financing Receivable, Modifications [Line Items] | ||
Modifications, Unfunded Commitments Available For Funding | $ 2,900,000 | |
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 21 | |
Financing receivable modifications recorded investment modified during period | 6,309,000 | $ 11,359,000 |
Loans classified as TDRs, charge-offs | 6,200,000 | 3,800,000 |
Financing receivable modifications recorded investment subsequently defaulted | 3,641,000 | 0 |
Commercial loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 6,309,000 | 11,359,000 |
Financing receivable modifications recorded investment subsequently defaulted | 3,105,000 | |
Consumer loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 536,000 | |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 6,309,000 | 10,854,000 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 3,105,000 | |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 0 | 505,000 |
Consumer Portfolio Segment | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 0 | 0 |
Financing receivable modifications recorded investment subsequently defaulted | 536,000 | |
Payment deferrals granted | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | $ 6,300,000 | $ 2,400,000 |
Loans, Allowance for Loan Los68
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments Recorded Investment in Loans Modified in TDRs within Previous 12 months Subsequently Defaulted (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | $ 3,641,000 | $ 0 |
Commercial loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 3,105,000 | |
Consumer loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 536,000 | |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 3,105,000 | |
Consumer Portfolio Segment [Member] | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | $ 536,000 |
Short-Term Borrowings and Lon69
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Debt Outstanding [Line Items] | ||
Short-term borrowings | $ 5,163 | $ 512,668 |
Total long-term debt | 795,465 | 795,704 |
Short-term FHLB advances | ||
Debt Outstanding [Line Items] | ||
Short-term FHLB advances | $ 0 | 500,000 |
Maturity | ||
Principal value at period end | $ 0 | |
Other short-term borrowings | ||
Debt Outstanding [Line Items] | ||
Other short-term borrowings | 5,163 | 12,668 |
Principal value at period end | $ 5,163 | |
3.50% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Jan. 29, 2025 | |
Principal value at period end | $ 350,000 | |
Senior notes | $ 347,059 | 346,979 |
5.375% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Sep. 15, 2020 | |
Principal value at period end | $ 350,000 | |
Senior notes | $ 347,733 | 347,586 |
6.05% Subordinated Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Jun. 1, 2017 | |
Principal value at period end | $ 45,964 | |
Subordinated notes | $ 46,223 | 46,646 |
7.0% Junior Subordinated Debentures | ||
Debt Outstanding [Line Items] | ||
Maturity | Oct. 15, 2033 | |
Principal value at period end | $ 50,000 | |
Junior subordinated debentures | $ 54,450 | $ 54,493 |
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 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
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 | $ 0.3 | $ 0.8 | |
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 | $ 0.3 | $ 0.8 |
Short-Term Borrowings and Lon71
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Debt Disclosure [Line Items] | |||
Interest expense on debt | $ 9.2 | $ 9 | |
Short-term debt, weighted average interest rate | 0.84% | 0.59% | |
Short-term FHLB advances | |||
Debt Disclosure [Line Items] | |||
Market value of collateral pledged | $ 1,700 | ||
Federal Reserve Bank Advances | |||
Debt Disclosure [Line Items] | |||
Market value of collateral pledged | $ 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 | Mar. 31, 2017 | Dec. 31, 2016 |
Derivative [Line Items] | ||
Fair Value, Net Total | $ 134,415 | $ 145,632 |
Collateral | 5,163 | 12,668 |
Net Exposure, Net | 129,252 | 132,964 |
Interest rate swaps | ||
Derivative [Line Items] | ||
Fair value, Assets | 318 | 810 |
Foreign exchange forwards | ||
Derivative [Line Items] | ||
Fair value, Assets | 51,050 | 57,644 |
Fair value, Liabilities | (41,296) | (44,285) |
Client foreign currency options | ||
Derivative [Line Items] | ||
Fair value, Assets | 3,861 | 10,383 |
Fair value, Liabilities | (3,861) | (10,383) |
Client interest rate derivatives | ||
Derivative [Line Items] | ||
Fair value, Assets | 10,702 | 10,110 |
Fair value, Liabilities | (10,592) | (9,770) |
Derivatives designated as hedging instruments | Interest rate risks | Other assets | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 45,964 | 45,964 |
Fair value, Assets | 318 | 810 |
Collateral | 0 | 89 |
Net Exposure, Assets | 318 | 721 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Fair Value, Net exposure | (191) | 2,089 |
Collateral | 0 | 0 |
Net Exposure, Net | (191) | 2,089 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other assets | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 93,012 | 219,950 |
Fair value, Assets | 759 | 3,057 |
Collateral | 0 | 0 |
Net Exposure, Assets | 759 | 3,057 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other liability | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 114,317 | 54,338 |
Fair value, Liabilities | (950) | (968) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (950) | (968) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivative contracts | ||
Derivative [Line Items] | ||
Fair Value, Net exposure | 10,055 | 11,610 |
Collateral | 5,163 | 12,579 |
Net Exposure, Net | 4,892 | (969) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | ||
Derivative [Line Items] | ||
Net Exposure, Assets | 124,233 | 131,123 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Other derivative contracts | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 813,579 | 775,000 |
Fair value, Assets | 3,861 | 10,383 |
Collateral | 0 | 0 |
Net Exposure, Assets | 3,861 | 10,383 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 669,139 | 583,511 |
Fair value, Assets | 10,702 | 10,110 |
Collateral | 0 | 0 |
Net Exposure, Assets | 10,702 | 10,110 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 1,747,019 | 1,251,308 |
Fair value, Assets | 50,291 | 54,587 |
Collateral | 5,163 | 12,579 |
Net Exposure, Assets | 45,128 | 42,008 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Other derivative contracts | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 813,579 | 775,000 |
Fair value, Liabilities | (3,861) | (10,383) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (3,861) | (10,383) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 712,965 | 627,639 |
Fair value, Liabilities | (10,592) | (9,770) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | (10,592) | (9,770) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 1,588,628 | 1,068,991 |
Fair value, Liabilities | (40,346) | (43,317) |
Collateral | 0 | 0 |
Net Exposure, Liabilities | $ (40,346) | $ (43,317) |
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 | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | $ (3,887) | $ (3,159) | |
Gains and losses on equity warrant assets | [1] | 6,690 | 6,606 |
Equity warrant assets | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 1,545 | 2,317 | |
Derivatives designated as hedging instruments | Interest rate risks | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 553 | 592 | |
Derivatives designated as hedging instruments | Interest rate risks | Interest expense—borrowings | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 554 | 609 | |
Derivatives designated as hedging instruments | Interest rate risks | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | (1) | (17) | |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 863 | 283 | |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | (3,245) | (2,208) | |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 4,108 | 2,491 | |
Derivatives not designated as hedging instruments | Other derivative instruments | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 465 | (2,001) | |
Derivatives not designated as hedging instruments | Other derivative instruments | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | (2,289) | (5,654) | |
Derivatives not designated as hedging instruments | Other derivative instruments | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 2,754 | 3,653 | |
Derivatives not designated as hedging instruments | Other derivative instruments | Other derivative contracts | Other noninterest income | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | (276) | (421) | |
Derivatives not designated as hedging instruments | Equity warrant assets | gains and losses on equity warrant assets [Domain] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains and losses on equity warrant assets | $ 6,690 | $ 6,607 | |
[1] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects a new line item to separately disclose net gains on equity warrant assets. In prior periods, net gains on equity warrant assets were reported as a component of gains on derivative instruments, net. We removed the line item gains on derivative instruments, net and reclassified all other gains on derivative instruments, net to other noninterest income. |
Derivative Financial Instrume74
Derivative Financial Instruments - Master Netting Arrangements (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | $ 243,968 | $ 142,975 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Gross Amounts of Recognized Liabilities | 55,749 | 64,438 |
Net Amounts of Assets Presented in the Statement of Financial Position | 243,968 | 142,975 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (211,826) | (106,384) |
Cash Collateral Received Subject to Master Netting Arrangements | (5,163) | (12,668) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 26,979 | 23,923 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Securities Sold under Agreements to Repurchase, Asset | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 55,749 | 64,438 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (36,136) | (29,319) |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,613 | 35,119 |
Securities Sold under Agreements to Repurchase, Gross | 0 | 0 |
Securities Purchased under Agreements to Resell, Gross | 178,037 | 64,028 |
Securities Purchased under Agreements to Resell, Liability | 0 | 0 |
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities | 178,037 | 64,028 |
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Cash | 0 | 0 |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Securities | 0 | 0 |
Securities Sold under Agreements to Repurchase, Collateral, Right to Reclaim Cash | 0 | 0 |
Collateral | 5,163 | 12,668 |
Interest rate swaps | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 318 | 810 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 318 | 721 |
Derivative, Collateral, Obligation to Return Cash | 0 | 89 |
Foreign exchange forwards | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 51,050 | 57,644 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (41,296) | (44,285) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 22,222 | 22,738 |
Derivative, Collateral, Obligation to Return Cash | 5,163 | 12,579 |
Derivative, Collateral, Right to Reclaim Securities | 22,246 | 17,964 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Client foreign currency options | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 3,861 | 10,383 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (3,861) | (10,383) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 563 | 8,806 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative, Collateral, Right to Reclaim Securities | 3,298 | 1,585 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Client interest rate derivatives | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 10,702 | 10,110 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (10,592) | (9,770) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 10,686 | 10,091 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative, Collateral, Right to Reclaim Securities | 10,592 | 9,770 |
Derivative, Collateral, Right to Reclaim Cash | 0 | 0 |
Derivative | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 65,931 | 78,947 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Gross Amounts of Recognized Liabilities | 55,749 | 64,438 |
Net Amounts of Assets Presented in the Statement of Financial Position | 65,931 | 78,947 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (33,789) | (42,356) |
Cash Collateral Received Subject to Master Netting Arrangements | (5,163) | (12,668) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 26,979 | 23,923 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 55,749 | 64,438 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (36,136) | (29,319) |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,613 | 35,119 |
Derivative | Interest rate swaps | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Net Amounts of Assets Presented in the Statement of Financial Position | 318 | 810 |
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] | ||
Net Amounts of Assets Presented in the Statement of Financial Position | 51,050 | 57,644 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 23,665 | 22,327 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 41,296 | 44,285 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 19,050 | 26,321 |
Derivative | Client foreign currency options | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Net Amounts of Assets Presented in the Statement of Financial Position | 3,861 | 10,383 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 3,298 | 1,577 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 3,861 | 10,383 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 563 | 8,798 |
Derivative | Client interest rate derivatives | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Net Amounts of Assets Presented in the Statement of Financial Position | 10,702 | 10,110 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 16 | 19 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 10,592 | 9,770 |
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] | ||
Net Amounts of Assets Presented in the Statement of Financial Position | 178,037 | 64,028 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 0 | 0 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 0 | 0 |
Other assets | Derivatives not designated as hedging instruments | Equity warrant assets | Other derivative instruments | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative, Notional Amount | 211,327 | 211,434 |
Derivative Asset, Fair Value, Gross Asset | 124,233 | 131,123 |
Collateral | $ 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 | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Other Noninterest Income [Line Items] | |||
Fund management fees | $ 5,169 | $ 4,620 | |
Service-based fee income | 1,895 | 2,092 | |
Unrealized Gain (Loss) on Derivatives | (3,887) | (3,159) | |
Other (3) | 4,029 | 2,676 | |
Total other noninterest income | [1] | 12,421 | 7,670 |
Client Instruments | |||
Other Noninterest Income [Line Items] | |||
Gains on revaluation of internal foreign currency instruments, net (2) | 2,754 | 3,653 | |
Internal Instruments | |||
Other Noninterest Income [Line Items] | |||
Gains on revaluation of internal foreign currency instruments, net (2) | 4,108 | 2,491 | |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | |||
Other Noninterest Income [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 863 | 283 | |
Derivatives not designated as hedging instruments | Other derivative instruments | |||
Other Noninterest Income [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | 465 | (2,001) | |
Other noninterest income | Derivatives not designated as hedging instruments | Foreign Exchange Contract | |||
Other Noninterest Income [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | (3,245) | (2,208) | |
Other noninterest income | Derivatives not designated as hedging instruments | Other derivative instruments | |||
Other Noninterest Income [Line Items] | |||
Unrealized Gain (Loss) on Derivatives | $ (2,289) | $ (5,654) | |
[1] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects a new line item to separately disclose net gains on equity warrant assets. In prior periods, net gains on equity warrant assets were reported as a component of gains on derivative instruments, net. We removed the line item gains on derivative instruments, net and reclassified all other gains on derivative instruments, net to other noninterest income. |
Other Noninterest Income and 76
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Other Income and Expenses [Abstract] | ||
Lending and other client related processing costs | $ 5,539 | $ 4,295 |
Telephone | 2,703 | 2,233 |
Data processing services | 2,582 | 1,829 |
Dues and publications | 795 | 802 |
Postage and supplies | 749 | 790 |
Other | 3,839 | 4,844 |
Total other noninterest expense | $ 16,207 | $ 14,793 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment Reporting - Segment Inf
Segment Reporting - Segment Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | ||
Segment Reporting Information [Line Items] | |||
Net interest income | $ 309,993 | $ 281,421 | |
Provision for credit losses | (29,679) | (33,341) | |
Provision for credit losses | [1] | 30,734 | 33,475 |
Noninterest income | 117,659 | 86,134 | |
Noninterest expense | [1] | (237,633) | (203,899) |
Income before income tax expense | 159,285 | 130,181 | |
Total average loans, net of unearned income | 20,069,314 | 17,012,435 | |
Total average assets | 45,301,034 | 44,190,190 | |
Total average deposits | 39,958,535 | 39,268,129 | |
Global Commercial Bank | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 275,684 | 256,178 | |
Provision for credit losses | (28,889) | (32,703) | |
Noninterest income | 79,519 | 74,759 | |
Noninterest expense | (172,374) | (154,787) | |
Income before income tax expense | 153,940 | 143,447 | |
Total average loans, net of unearned income | 17,647,055 | 14,919,735 | |
Total average assets | 42,888,336 | 41,533,434 | |
Total average deposits | 38,296,563 | 37,837,645 | |
SVB Private Bank | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 13,610 | 13,672 | |
Provision for credit losses | (790) | (638) | |
Noninterest income | 718 | 627 | |
Noninterest expense | (3,919) | (3,405) | |
Income before income tax expense | 9,619 | 10,256 | |
Total average loans, net of unearned income | 2,245,317 | 1,871,820 | |
Total average assets | 2,259,018 | 1,893,413 | |
Total average deposits | 1,336,849 | 1,130,736 | |
SVB Capital | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 0 | 0 | |
Provision for credit losses | 0 | 0 | |
Noninterest income | 16,775 | 2,453 | |
Noninterest expense | (3,472) | (3,913) | |
Income before income tax expense | 13,303 | (1,460) | |
Total average loans, net of unearned income | 0 | 0 | |
Total average assets | 372,876 | 349,011 | |
Total average deposits | 0 | 0 | |
Other Items | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 20,699 | 11,571 | |
Provision for credit losses | (1,055) | (134) | |
Noninterest income | 20,647 | 8,295 | |
Noninterest expense | (57,868) | (41,794) | |
Income before income tax expense | (17,577) | (22,062) | |
Total average loans, net of unearned income | 176,942 | 220,880 | |
Total average assets | (219,196) | 414,332 | |
Total average deposits | $ 325,123 | $ 299,748 | |
[1] | Our consolidated statements of income were modified from prior period's presentation to conform to the current period's presentation, which reflects our provision for loan losses and provision for unfunded credit commitments together as our “provision for credit losses”. In prior periods, our provision for unfunded credit commitments were reported as a component of noninterest expense. |
Segment Reporting - Segment I79
Segment Reporting - Segment Information (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Global Commercial Bank | ||
Segment Reporting Information [Line Items] | ||
Depreciation and amortization | $ 6.1 | $ 5.7 |
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 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ||||
Fixed interest rate commitments | $ 1,452,107 | $ 1,475,179 | ||
Variable interest rate commitments | 12,950,544 | 13,572,161 | ||
Total loan commitments available for funding | 14,402,651 | 15,047,340 | ||
Commercial and standby letters of credit | 1,679,680 | 1,695,856 | ||
Total unfunded credit commitments | 16,082,331 | 16,743,196 | ||
Commitments unavailable for funding | 1,952,726 | 1,719,524 | ||
Maximum lending limits for accounts receivable factoring arrangements | 686,553 | 725,395 | ||
Reserve For Unfunded Credit Commitments | $ 46,335 | $ 45,265 | $ 34,541 | $ 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 | Mar. 31, 2017 | Dec. 31, 2016 |
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | $ 1,626,484 | |
Expires After One Year | 53,196 | |
Total Amount Outstanding | 1,679,680 | $ 1,695,856 |
Maximum Amount of Future Payments | 1,679,680 | |
Financial standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 1,519,329 | |
Expires After One Year | 45,306 | |
Total Amount Outstanding | 1,564,635 | |
Maximum Amount of Future Payments | 1,564,635 | |
Performance standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 89,155 | |
Expires After One Year | 7,890 | |
Total Amount Outstanding | 97,045 | |
Maximum Amount of Future Payments | 97,045 | |
Commercial letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 18,000 | |
Expires After One Year | 0 | |
Total Amount Outstanding | 18,000 | |
Maximum Amount of Future Payments | $ 18,000 |
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 | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
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 | $ 785 |
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 | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | $ 4,585 |
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 | 1,723 |
SVB Capital—NT Growth Partners, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | 1,524 |
Parent Company | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | 468,216 |
SVBFG Unfunded Commitments | 17,692 |
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 | $ 842 |
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 | 141 |
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 | 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 | 306,269 |
SVBFG Unfunded Commitments | $ 10,441 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Other fund investments | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Number of other funds with investment commitments | 255 | |
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 | 0.00% | 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 | Indirect ownership interest | SVB Capital Partners II, LP | ||
Venture Capital and Private Equity Fund Investments [Line Items] | ||
Percentage of ownership | 3.80% |
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 | Mar. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 4,585 |
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 | 1,723 |
SVB Capital—NT Growth Partners, LP | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 1,524 |
Income Taxes (Detail)
Income Taxes (Detail) $ in Millions | Mar. 31, 2017USD ($) |
Income Tax Disclosure [Abstract] | |
Unrecognized tax benefits | $ 5.4 |
Income tax reduction from recognized tax benefit | $ 3.5 |
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 12,384,007 | $ 12,620,411 |
Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 318 | 810 |
Client interest rate derivatives | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 10,702 | 10,110 |
Fair value, Liabilities | 10,592 | 9,770 |
Derivatives designated as hedging instruments | Interest rate risks | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 318 | 810 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 759 | 3,057 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 950 | 968 |
Fair value accounting | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 646 | 753 |
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 | 139,715 | 141,649 |
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 | 8,206,090 | 8,909,491 |
U.S. agency debentures | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,077,813 | 2,078,375 |
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 | 1,650,329 | 1,152,665 |
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 | 445,581 | 474,283 |
Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 4,194 | $ 5,597 |
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 | 15.10% | 17.70% |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | $ 12,384,007 | $ 12,620,411 |
Total assets | 12,716,572 | 12,974,923 |
Total liabilities | 55,749 | 64,438 |
Fair Value, Measurements, Recurring | Derivatives designated as hedging instruments | Interest rate risks | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 318 | 810 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 54,911 | 68,027 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 45,157 | 54,668 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 124,233 | 131,123 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Client interest rate derivatives | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 10,702 | 10,110 |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Client interest rate derivatives | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 9,770 | |
Fair Value, Measurements, Recurring | Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 10,592 | |
Fair Value, Measurements, Recurring | Fair value accounting | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable securities | 142,401 | 144,442 |
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 | 139,715 | 141,649 |
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 | 646 | 753 |
Fair Value, Measurements, Recurring | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 8,206,090 | 8,909,491 |
Fair Value, Measurements, Recurring | U.S. agency debentures | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 2,077,813 | 2,078,375 |
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 | 1,650,329 | 1,152,665 |
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 | 445,581 | 474,283 |
Fair Value, Measurements, Recurring | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 4,194 | 5,597 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 8,206,834 | 8,909,666 |
Total assets | 8,207,480 | 8,910,419 |
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 | 600 |
Fair Value, Measurements, Recurring | Level 1 | Derivatives designated as hedging instruments | 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 | Foreign Exchange Contract | 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 | Foreign Exchange Contract | 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 | 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 | 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 | Client interest rate derivatives | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 0 | |
Fair Value, Measurements, Recurring | Level 1 | Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 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 | 646 | 753 |
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 | 646 | 753 |
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 | 8,206,090 | 8,909,491 |
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 | 744 | 175 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 4,177,173 | 3,710,745 |
Total assets | 4,245,138 | 3,792,002 |
Total liabilities | 55,749 | 64,438 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives designated as hedging instruments | Interest rate swaps | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 318 | 810 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 54,911 | 68,027 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 45,157 | 54,668 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 2,034 | 2,310 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Client interest rate derivatives | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 10,702 | 10,110 |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Client interest rate derivatives | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 9,770 | |
Fair Value, Measurements, Recurring | Level 2 | Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 10,592 | |
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 | 2,077,813 | 2,078,375 |
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 | 1,650,329 | 1,152,665 |
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 | 445,581 | 474,283 |
Fair Value, Measurements, Recurring | Level 2 | Equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Carrying Value | 3,450 | 5,422 |
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 | 124,239 | 130,853 |
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 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 | Foreign Exchange Contract | 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 | Foreign Exchange Contract | 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 | Equity warrant assets | Other assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Assets | 122,199 | 128,813 |
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging 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 | Client interest rate derivatives | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 0 | |
Fair Value, Measurements, Recurring | Level 3 | Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value, Liabilities | 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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 130,853 | $ 137,208 |
Total Realized and Unrealized Gains (Losses) Included in Income | 6,609 | 7,149 |
Sales | (17,086) | (15,416) |
Issuances | 4,030 | 2,374 |
Distributions and Other Settlements | 0 | 30 |
Transfers Out of Level 3 | (167) | (323) |
Ending Balance | 124,239 | 131,022 |
Equity warrant assets | Other assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 128,813 | 135,168 |
Total Realized and Unrealized Gains (Losses) Included in Income | 6,609 | 7,179 |
Sales | (17,086) | (15,416) |
Issuances | 4,030 | 2,374 |
Distributions and Other Settlements | 0 | 0 |
Transfers Out of Level 3 | (167) | (323) |
Ending Balance | 122,199 | 128,982 |
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 | 2,040 |
Total Realized and Unrealized Gains (Losses) Included in Income | 0 | (30) |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Distributions and Other Settlements | 0 | 30 |
Transfers Out of Level 3 | 0 | 0 |
Ending Balance | $ 2,040 | $ 2,040 |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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 | $ (347) | $ 1,465 |
Unrealized (losses) gains attributable to noncontrolling interests | 0 | 0 |
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 | (347) | 1,465 |
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 |
Fair Value of Financial Instr90
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 124,239 | $ 130,853 | $ 131,022 | $ 137,208 |
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 | $ 1,223 | $ 764 | ||
Valuation Technique | Modified Black-Scholes option pricing model | Modified Black-Scholes option pricing model | ||
Sales restrictions discount rate | 15.10% | 17.70% | ||
Volatility | 40.70% | 46.60% | ||
Risk-Free interest rate | 1.80% | 2.10% | ||
Level 3 | Equity warrant assets, private portfolio | Other assets | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 120,976 | $ 128,049 | ||
Valuation Technique | Modified Black-Scholes option pricing model | Modified Black-Scholes option pricing model | ||
Volatility | 37.10% | 36.90% | ||
Risk-Free interest rate | 1.30% | 1.30% | ||
Marketability discount | 16.80% | 17.10% | ||
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) | 3 Months Ended |
Mar. 31, 2017 | |
Equity warrant assets, private portfolio | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Weighted average contractual remaining term | 5 years 10 months 24 days |
Estimated remaining life | 2 years 7 months 6 days |
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 | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Debt Disclosure [Line Items] | ||
Investments transferred out of Level 3 | $ 167 | $ 323 |
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 | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity securities | $ 8,567,817 | $ 8,376,138 |
Loans and Leases Receivable, Net Amount | 20,184,321 | 19,674,578 |
Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | 500,000 |
Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 5,163 | 12,668 |
3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,059 | 346,979 |
5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,733 | 347,586 |
6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 46,223 | 46,646 |
7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,450 | 54,493 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 3,795,679 | 2,545,750 |
Held-to-maturity securities | 8,615,695 | 8,426,998 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 121,108 | 120,037 |
Non-marketable securities (cost and equity method accounting) measured at net asset value | 239,275 | 245,626 |
FHLB and Federal Reserve Bank stock | 57,592 | 57,592 |
Accrued interest receivable | 110,949 | 111,222 |
Non-maturity deposits (1) | 41,038,552 | 38,923,750 |
Time deposits | 41,148 | 56,118 |
Accrued interest payable | 4,990 | 12,013 |
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 | 500,000 | |
Carrying Amount | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 5,163 | 12,668 |
Carrying Amount | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,059 | 346,979 |
Carrying Amount | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,733 | 347,586 |
Carrying Amount | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 46,223 | 46,646 |
Carrying Amount | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,450 | 54,493 |
Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 3,795,679 | 2,545,750 |
Held-to-maturity securities | 8,567,817 | 8,376,138 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 125,650 | 127,343 |
Non-marketable securities (cost and equity method accounting) measured at net asset value | 346,890 | 353,870 |
FHLB and Federal Reserve Bank stock | 57,592 | 57,592 |
Accrued interest receivable | 110,949 | 111,222 |
Non-maturity deposits (1) | 41,038,552 | 38,923,750 |
Time deposits | 40,982 | 55,949 |
Accrued interest payable | 4,990 | 12,013 |
Commitments to extend credit | 21,127 | 22,074 |
Estimated Fair Value | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 500,000 | |
Estimated Fair Value | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 5,163 | 12,668 |
Estimated Fair Value | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 340,582 | 337,600 |
Estimated Fair Value | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 379,236 | 378,777 |
Estimated Fair Value | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 46,587 | 47,489 |
Estimated Fair Value | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,021 | 53,140 |
Estimated Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 3,795,679 | 2,545,750 |
Held-to-maturity securities | 0 | 0 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 0 | 0 |
FHLB and Federal Reserve Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Non-maturity deposits (1) | 41,038,552 | 38,923,750 |
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 | 500,000 | |
Estimated Fair Value | Level 1 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 5,163 | 12,668 |
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 | 8,567,817 | 8,376,138 |
Non-marketable securities (cost and equity method accounting) not measured at net asset value | 0 | 0 |
FHLB and Federal Reserve Bank stock | 0 | 0 |
Accrued interest receivable | 110,949 | 111,222 |
Non-maturity deposits (1) | 0 | 0 |
Time deposits | 40,982 | 55,949 |
Accrued interest payable | 4,990 | 12,013 |
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 | 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 | 340,582 | 337,600 |
Estimated Fair Value | Level 2 | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 379,236 | 378,777 |
Estimated Fair Value | Level 2 | 6.05% Subordinated Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Subordinated notes | 46,587 | 47,489 |
Estimated Fair Value | Level 2 | 7.0% Junior Subordinated Debentures | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Junior subordinated debentures | 54,021 | 53,140 |
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 | 125,650 | 127,343 |
FHLB and Federal Reserve Bank stock | 57,592 | 57,592 |
Accrued interest receivable | 0 | 0 |
Non-maturity deposits (1) | 0 | 0 |
Time deposits | 0 | 0 |
Accrued interest payable | 0 | 0 |
Commitments to extend credit | 21,127 | 22,074 |
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 | 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 |
Consumer Portfolio Segment [Member] | Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 2,231,070 | 2,156,148 |
Consumer Portfolio Segment [Member] | Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 2,267,387 | 2,199,501 |
Consumer Portfolio Segment [Member] | Estimated Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 0 | 0 |
Consumer Portfolio Segment [Member] | Estimated Fair Value | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 0 | 0 |
Consumer Portfolio Segment [Member] | Estimated Fair Value | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 2,267,387 | 2,199,501 |
Commercial Portfolio Segment | Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 17,953,251 | 17,518,430 |
Commercial Portfolio Segment | Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 18,165,969 | 17,811,356 |
Commercial Portfolio Segment | Estimated Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 0 | 0 |
Commercial Portfolio Segment | Estimated Fair Value | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 0 | 0 |
Commercial Portfolio Segment | Estimated Fair Value | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 18,165,969 | $ 17,811,356 |
Fair Value, Measurements, Recurring | Other derivative instruments | Other liability | Derivatives not designated as hedging instruments | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value, Liabilities | (10,592) | |
Fair Value, Measurements, Recurring | Other derivative instruments | Other liability | Derivatives not designated as hedging instruments | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value, Liabilities | 0 | |
Fair Value, Measurements, Recurring | Other derivative instruments | Other liability | Derivatives not designated as hedging instruments | Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value, Liabilities | (10,592) | |
Fair Value, Measurements, Recurring | Other derivative instruments | Other liability | Derivatives not designated as hedging instruments | Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair value, Liabilities | $ 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 | Mar. 31, 2017 | Dec. 31, 2016 |
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 | $ 0.3 | $ 0.8 |
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 | Mar. 31, 2017USD ($) |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | $ 378,990 |
Fair Value | 486,605 |
Unfunded Commitments | 19,886 |
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 | 139,715 |
Fair Value | 139,715 |
Unfunded Commitments | 4,585 |
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 | 85,529 |
Fair Value | 85,529 |
Unfunded Commitments | 4,953 |
Non-marketable securities | Equity method accounting | Debt funds | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 16,509 |
Fair Value | 17,676 |
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 | 19,994 |
Fair Value | 19,994 |
Unfunded Commitments | 715 |
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 | 117,243 |
Fair Value | 223,691 |
Unfunded Commitments | $ 9,633 |
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 | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 486,605 |
Unfunded Commitments | 19,886 |
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 | 139,715 |
Unfunded Commitments | $ 4,585 |
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 | $ 103,900 |
Unfunded Commitments | 3,500 |
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 | 85,529 |
Unfunded Commitments | $ 4,953 |
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 |