Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
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 | 52,973,918 |
Interim Consolidated Balance Sh
Interim Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and cash equivalents | $ 2,619,384 | $ 2,923,075 |
Available-for-sale securities, at fair value (cost of $10,189,071 and $11,131,008, respectively) | 10,080,384 | 11,120,664 |
Held-to-maturity securities, at cost (fair value of $14,229,439 and $12,548,280, respectively) | 14,548,856 | 12,663,455 |
Non-marketable and other equity securities | 824,936 | 651,053 |
Total investment securities | 25,454,176 | 24,435,172 |
Loans, net of unearned income | 24,587,944 | 23,106,316 |
Allowance for loan losses | (274,294) | (255,024) |
Net loans | 24,313,650 | 22,851,292 |
Premises and equipment, net of accumulated depreciation and amortization | 127,054 | 128,682 |
Accrued interest receivable and other assets | 986,523 | 876,246 |
Total assets | 53,500,787 | 51,214,467 |
Liabilities: | ||
Noninterest-bearing demand deposits | 37,515,355 | 36,655,497 |
Interest-bearing deposits | 8,421,177 | 7,598,578 |
Total deposits | 45,936,532 | 44,254,075 |
Short-term borrowings | 1,102,140 | 1,033,730 |
Other liabilities | 1,206,660 | 911,755 |
Long-term debt | 695,731 | 695,492 |
Total liabilities | 48,941,063 | 46,895,052 |
Commitments and contingencies (Note 13 and Note 16) | ||
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; 52,922,219 shares and 52,835,188 shares outstanding, respectively | 53 | 53 |
Additional paid-in capital | 1,326,998 | 1,314,377 |
Retained earnings | 3,160,081 | 2,866,837 |
Accumulated other comprehensive loss | (71,686) | (1,472) |
Total SVBFG stockholders’ equity | 4,415,446 | 4,179,795 |
Noncontrolling interests | 144,278 | 139,620 |
Total equity | 4,559,724 | 4,319,415 |
Total liabilities and total equity | $ 53,500,787 | $ 51,214,467 |
Interim Consolidated Balance S3
Interim Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
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 | 52,922,219 | 52,835,188 |
Available-for-sale securities, cost | $ 10,189,071 | $ 11,131,008 |
Held-to-maturity securities | $ 14,229,439 | $ 12,548,280 |
Interim Consolidated Statements
Interim Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest income: | ||
Loans | $ 297,073 | $ 227,341 |
Investment securities: | ||
Taxable | 124,477 | 89,803 |
Non-taxable | 5,092 | 646 |
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities | 5,756 | 3,136 |
Total interest income | 432,398 | 320,926 |
Interest expense: | ||
Deposits | 4,097 | 1,717 |
Borrowings | 8,438 | 9,216 |
Total interest expense | 12,535 | 10,933 |
Net interest income | 419,863 | 309,993 |
Provision for credit losses | 27,972 | 30,734 |
Net interest income after provision for credit losses | 391,891 | 279,259 |
Noninterest income: | ||
Gains on investment securities, net | 9,058 | 15,970 |
Gains on equity warrant assets, net | 19,191 | 6,690 |
Foreign exchange fees | 33,827 | 26,247 |
Credit card fees | 21,692 | 17,730 |
Deposit service charges | 17,699 | 13,975 |
Client investment fees | 22,875 | 9,026 |
Lending related fees | 10,735 | 8,961 |
Letters of credit and standby letters of credit fees | 8,182 | 6,639 |
Other | 12,259 | 12,421 |
Total noninterest income | 155,518 | 117,659 |
Noninterest expense: | ||
Compensation and benefits | 165,806 | 147,176 |
Professional services | 28,725 | 25,419 |
Premises and equipment | 18,545 | 15,858 |
Net occupancy | 13,616 | 11,651 |
Business development and travel | 11,191 | 9,195 |
FDIC and state assessments | 9,430 | 8,682 |
Correspondent bank fees | 3,410 | 3,445 |
Other | 14,694 | 16,207 |
Total noninterest expense | 265,417 | 237,633 |
Income before income tax expense | 281,992 | 159,285 |
Income tax expense | 73,966 | 51,405 |
Net income before noncontrolling interests | 208,026 | 107,880 |
Net income attributable to noncontrolling interests | (13,065) | (6,397) |
Net income available to common stockholders | $ 194,961 | $ 101,483 |
Earnings per common share—basic (dollars per share) | $ 3.69 | $ 1.94 |
Earnings per common share—diluted (dollars per share) | $ 3.63 | $ 1.91 |
Interim Consolidated Statement5
Interim Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Net income before noncontrolling interests | $ 208,026 | $ 107,880 | |
Change in foreign currency cumulative translation gains and losses: | |||
Foreign currency translation gains | 3,106 | 957 | |
Related tax expense | (856) | (390) | |
Change in unrealized gains and losses on available-for-sale securities: | |||
Unrealized holding losses | (58,027) | (7,757) | |
Related tax benefit | 15,926 | 3,136 | |
Reclassification adjustment for gains included in net income | 0 | (608) | |
Related tax expense | 0 | 248 | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | [1] | (40,316) | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | [1] | 11,145 | 0 |
Amortization of unrealized holding gains on securities transferred from available-for-sale to held-to-maturity | (1,206) | (1,771) | |
Related tax benefit | 333 | 713 | |
Other comprehensive loss, net of tax | (70,214) | (5,472) | |
Comprehensive income | 137,812 | 102,408 | |
Comprehensive income attributable to noncontrolling interests | (13,065) | (6,397) | |
Comprehensive income attributable to SVBFG | 124,747 | 96,011 | |
Accounting Standards Update 2018-02 | |||
Change in unrealized gains and losses on available-for-sale securities: | |||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | [1] | $ (319) | $ 0 |
[1] | See "Adoption of New Accounting Standards" in 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 Statement6
Interim Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total SVBFG Stockholders’ Equity | Noncontrolling Interests | Accounting Standards Update 2014-09 | Accounting Standards Update 2014-09Retained Earnings | Accounting Standards Update 2014-09Total SVBFG Stockholders’ Equity | Accounting Standards Update 2016-01 | Accounting Standards Update 2016-01Retained Earnings | Accounting Standards Update 2016-01Accumulated Other Comprehensive Income (Loss) | Accounting Standards Update 2016-01Total SVBFG Stockholders’ Equity | Accounting Standards Update 2018-02 | Accounting Standards Update 2018-02Retained Earnings | [2] | Accounting Standards Update 2018-02Accumulated Other Comprehensive Income (Loss) | [2] | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | [1] | $ 0 | |||||||||||||||||||
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] | |||||||||||||||||||||
Net income | 107,880 | ||||||||||||||||||||
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 | ||||||||||||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (319) | [1] | $ 319 | $ (319) | |||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 52,835,188 | ||||||||||||||||||||
Balance at Dec. 31, 2017 | 4,319,415 | $ 53 | 1,314,377 | 2,866,837 | (1,472) | 4,179,795 | 139,620 | ||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations (in shares) | 77,359 | ||||||||||||||||||||
Common stock issued under employee benefit plans, net of restricted stock cancellations | (479) | $ 0 | (479) | (479) | |||||||||||||||||
Common stock issued under ESOP (in shares) | 9,672 | ||||||||||||||||||||
Common stock issued under ESOP | 2,577 | 2,577 | 2,577 | ||||||||||||||||||
Net income | 208,026 | 194,961 | 194,961 | 13,065 | |||||||||||||||||
Noncontrolling Interest, Period Increase (Decrease) | (8,407) | (8,407) | |||||||||||||||||||
Net change in unrealized gains and losses on AFS securities, net of tax | (42,101) | (42,101) | (42,101) | ||||||||||||||||||
Amortization of unrealized holding gains on securities transferred from AFS to HTM, net of tax | (873) | (873) | (873) | ||||||||||||||||||
Foreign currency translation adjustments, net of tax | 2,250 | 2,250 | 2,250 | ||||||||||||||||||
Share-based compensation, net | 10,523 | 10,523 | 10,523 | ||||||||||||||||||
Balance (in shares) at Mar. 31, 2018 | 52,922,219 | ||||||||||||||||||||
Balance at Mar. 31, 2018 | $ 4,559,724 | $ 53 | $ 1,326,998 | $ 3,160,081 | $ (71,686) | $ 4,415,446 | $ 144,278 | ||||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | [2] | $ (5,802) | $ (5,802) | $ (5,802) | $ 74,595 | $ 103,766 | $ (29,171) | $ 74,595 | |||||||||||||
[1] | See "Adoption of New Accounting Standards" in 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. | ||||||||||||||||||||
[2] | See "Adoption of New Accounting Standards" in 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, 2018 | Mar. 31, 2017 | ||
Cash flows from operating activities: | |||
Net income before noncontrolling interests | $ 208,026 | $ 107,880 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for credit losses | 27,972 | 30,734 | |
Gains on investment securities, net | [1] | (9,058) | (8,942) |
Marketable Securities, Realized Gain (Loss), Excluding Other than Temporary Impairments | [1] | 11,385 | 12,159 |
Depreciation and amortization | 14,377 | 12,391 | |
Amortization of premiums and discounts on investment securities, net | (1,125) | 400 | |
Amortization of share-based compensation | 10,523 | 9,203 | |
Amortization of deferred loan fees | (29,133) | (23,650) | |
Deferred income tax benefit | (8,834) | (15,386) | |
Other gains | 0 | (3,981) | |
Excess Tax Benefit from Share-based Compensation, Operating Activities | (2,543) | (6,063) | |
Changes in other assets and liabilities: | |||
Accrued interest receivable and payable, net | (18,365) | (6,750) | |
Accounts receivable and payable, net | (7,277) | (1,976) | |
Income tax receivable and payable, net | 69,869 | 65,524 | |
Accrued compensation | (106,356) | (89,653) | |
Foreign exchange spot contracts, net | 134,638 | 30,995 | |
Other, net | 67,885 | (3,290) | |
Net cash provided by operating activities | 348,404 | 111,937 | |
Cash flows from investing activities: | |||
Purchases of available-for-sale securities | 0 | (595,543) | |
Proceeds from sales of available-for-sale securities | 0 | 2,078 | |
Proceeds from maturities and pay downs of available-for-sale securities | 911,839 | 824,551 | |
Purchases of held-to-maturity securities | (2,295,985) | (589,855) | |
Proceeds from maturities and pay downs of held-to-maturity securities | 470,232 | 416,206 | |
Purchases of non-marketable and other securities | (20,401) | (545) | |
Proceeds from sales and distributions of capital of non-marketable and other securities (1) | [1] | 9,377 | 11,744 |
Net increase in loans | (1,463,998) | (519,454) | |
Purchases of premises and equipment | (7,717) | (10,599) | |
Net cash used for investing activities | (2,396,653) | (461,417) | |
Cash flows from financing activities: | |||
Net increase in deposits | 1,682,457 | 2,099,832 | |
Net increase (decrease) in short-term borrowings | 68,410 | (507,505) | |
(Distributions to noncontrolling interests), net of contributions from noncontrolling interests | (8,407) | (1,755) | |
Proceeds from issuance of common stock, ESPP and ESOP | 2,098 | 8,837 | |
Net cash provided by financing activities | 1,744,558 | 1,599,409 | |
Net (decrease) increase in cash and cash equivalents | (303,691) | 1,249,929 | |
Cash and cash equivalents at beginning of period | 2,923,075 | 2,545,750 | |
Cash and cash equivalents at end of period | 2,619,384 | 3,795,679 | |
Cash paid during the period for: | |||
Interest | 20,411 | 17,956 | |
Income taxes | 9,385 | 3,304 | |
Noncash items during the period: | |||
Changes in unrealized gains and losses on available-for-sale securities, net of tax | (42,101) | (4,981) | |
Distributions of stock from investments | 2,282 | 357 | |
Equity warrant assets | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Changes in fair values of derivatives, net | (17,508) | (1,545) | |
Derivative | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Changes in fair values of derivatives, net | $ 3,928 | $ 3,887 | |
[1] | During the first quarter of 2018 we adopted ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This guidance was adopted on a retrospective basis and impacted the presentation between investing and operating activities related to distributions and net gains from our nonmarketable and other securities portfolio. 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, 2018 | |
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, 2018 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, 2017 (“ 2017 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 2017 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 and other equity 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 based on our ownership percentage. 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 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. The guidance requires that revenue from contracts with customers be recognized when transfer of control over goods or services is passed to customers in the amount of consideration expected to be received. Subsequent Accounting Standard Updates have been issued clarifying the original pronouncement (ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20). On January 1, 2018, we adopted the new accounting standard ASU 2014-09, Revenue from Contracts with Customers and all the related amendments ("new revenue standard", "ASC 606" or "ASU 2014-09") using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. We elected to apply the practical expedient which allows us to expense costs related to obtaining contracts as incurred because the amortization period would have been one year or less. We recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We completed a comprehensive scoping exercise to determine the revenue streams that are within the scope of this guidance. The scope of this guidance explicitly excludes net interest income, including interest income earned from our loan and fixed income securities portfolios, as well as certain other noninterest income earned from our lending-, investment- and derivative-related activities. Based on our completed assessment, we did not identify any material changes to the timing or the amounts of our revenue recognition, however, we identified a change in the timing of recognizing fund management fees in other noninterest income for a portion of our SVB Capital funds. Fund management fees for these certain SVB Capital funds will now be recognized at the time of distribution which typically occurs later in the life of the fund than had been previously recognized. The cumulative adjustment to retained earnings associated with this change was $5.8 million , net of tax, with an immaterial impact to our net income on an ongoing basis. The timing of revenue recognition may differ from the timing of cash settlements or invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, and unearned revenue when revenue is recognized subsequent to receipt of consideration. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. During the three months ended March 31, 2018, changes in our contract assets, contract liabilities and receivables were not material. Additionally, revenues recognized during the three months ended March 31, 2018 that were included in the corresponding contract liability balance at the beginning of the period were not material. The cumulative effect of the changes to our consolidated balance sheets at January 1, 2018, for the adoption of the new revenue standard were as follows: (Dollars in thousands) Balance at December 31, 2017 Adjustments Due to Adoption of ASC 606 Balance at January 1, 2018 Accrued interest receivable and other assets: Accounts receivable $ 55,946 $ (34,340 ) $ 21,606 Other liabilities: Deferred revenue 27,057 (26,321 ) 736 Current taxes payable 4,675 (2,217 ) 2,458 Stockholders' Equity: Retained earnings 2,866,837 (5,802 ) 2,861,035 In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated balance sheets and statements of income at and for the three months ended March 31, 2018, were as follows: March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Accrued interest receivable and other assets: Accounts receivable $ 47,978 $ 85,077 $ (37,099 ) Other liabilities: Deferred fees 734 28,685 (27,951 ) Current taxes payable 67,001 65,023 1,978 Stockholders' Equity: Retained earnings 3,160,081 3,166,514 (6,433 ) Three months ended March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Other noninterest income: Fund management fees $ 5,736 $ 6,606 $ (870 ) Income tax expense 73,966 74,205 (239 ) Net Income available to common stockholders 194,961 195,592 (631 ) Diluted earnings per share 3.63 3.64 (0.01 ) In February 2018, the FASB issued a new accounting standard update (ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU "2018-02")) to address certain stranded income tax effects in accumulated other comprehensive income ("AOCI") resulting from H.R.1, known as the Tax Cuts and Jobs Act (the "TCJ Act"). ASU 2018-02 changed current accounting whereby an entity may elect to reclassify the stranded tax effect from AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJ Act (or portion thereof) is recorded. ASU 2018-02 is effective for periods beginning after December 15, 2018 and early adoption is permitted. We have elected to early adopt ASU 2018-02 and reclassified approximately $0.3 million from accumulated other comprehensive income to retained earnings within our consolidated statements of stockholders' equity for the three months ended March 31, 2018. On January 1, 2018, we adopted the new accounting standard update ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825), which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. This guidance requires equity investments (except those accounted for under the equity method of accounting) to be measured at fair value with changes in fair value recognized in net income. We adopted this guidance using the modified retrospective method and our equity investments carried at cost with readily determinable fair values were re-measured at fair value and the difference between cost and fair value was recorded as a cumulative-effect adjustment to opening retained earnings as of January 1, 2018. The adjustment to opening retained earnings for these investments was $74.6 million , net of tax, with subsequent changes in the fair value of these equity securities recorded as unrealized gains or losses in our consolidated statements of income. Additionally, in accordance with this guidance, net unrealized gains of $29.2 million , net of tax, included in accumulated other comprehensive income on January 1, 2018, related to our previously reported available-for-sale equity securities, were reclassified as an adjustment to retained earnings. Subsequent changes in the fair value of these equity securities were recorded as unrealized gains or losses in our consolidated statements of income. Furthermore, for purposes of disclosing the fair value of loans carried at amortized cost, our valuation methodology was updated to conform to an “exit price” concept as required by the standard update, resulting in an immaterial change in the fair value. 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. We adopted the new accounting standard, specifically as it relates to distributions from our equity method investments, on January 1, 2018. We elected to adopt the nature of distribution approach and applied the guidance retrospectively. The new guidance had an immaterial impact on the presentation between investing and operating activities within our statements of cash flows related to distributions and net gains from our nonmarketable and other securities portfolio. In November 2016, the FASB issued a new accounting standard update (ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash), which requires that a statement of cash flows explains the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. Previous to the update, there had been some diversity in practice. Given that we had already classified restricted cash such as cash reserves at the Federal Reserve as part of cash and cash equivalents on the cash flow statement, the update had no impact on how we were already reporting and presenting our statement of cash flows. Recent Accounting Pronouncements 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 corresponding 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 and are currently evaluating the impact this guidance will have on our consolidated financial statements by reviewing our existing lease contracts and service contracts that may include embedded leases. While we are continuing to assess potential impacts of the standard, we currently expect to recognize right-of-use assets and related lease liabilities associated predominantly with noncancelable operating leases, as included in the table of minimum future payments, in the amount of $226 million as disclosed in Note 19 of our 2017 Form 10-K. 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 over the life of the loan 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 currently have a project team in place and subject matter experts to assist with our review of key interpretive issues and the assessment of our existing credit loss forecasting models and processes against the new guidance to determine what modifications may be required. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. Reclassifications Certain prior period amounts, primarily related to the adoption of new accounting guidance, have been reclassified to conform to current period presentations. |
Stockholders' Equity and EPS
Stockholders' Equity and EPS | 3 Months Ended |
Mar. 31, 2018 | |
Equity and Earnings Per Share [Abstract] | |
Stockholders' Equity and EPS | 2. 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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) Income Statement Location 2018 2017 Reclassification adjustment for gains included in net income Gains on investment securities, net $ — $ (608 ) Related tax expense Income tax expense — 248 Total reclassification adjustment for gains included in net income, net of tax $ — $ (360 ) 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, 2018 and 2017 : Three months ended March 31, (Dollars and shares in thousands, except per share amounts) 2018 2017 Numerator: Net income available to common stockholders $ 194,961 $ 101,483 Denominator: Weighted average common shares outstanding—basic 52,883 52,344 Weighted average effect of dilutive securities: Stock options and ESPP 420 440 Restricted stock units 382 395 Weighted average common shares outstanding—diluted 53,685 53,179 Earnings per common share: Basic $ 3.69 $ 1.94 Diluted 3.63 1.91 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, 2018 and 2017 : Three months ended March 31, (Shares in thousands) 2018 2017 Stock options 4 — Restricted stock units — 21 Total 4 21 |
Share-Based Compensation
Share-Based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | 3. Share-Based Compensation For the three months ended March 31, 2018 and 2017 , we recorded share-based compensation and related tax benefits as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Share-based compensation expense $ 10,523 $ 9,203 Income tax benefit related to share-based compensation expense (2,317 ) (3,015 ) Unrecognized Compensation Expense As of March 31, 2018 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Weighted Average Expected Recognition Period - in Years Stock options $ 8,290 2.48 Restricted stock units 46,036 2.48 Total unrecognized share-based compensation expense $ 54,326 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, 2018 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2017 808,049 $ 105.68 Granted 471 260.72 Exercised (51,271 ) 68.05 Forfeited (1,926 ) 130.69 Outstanding at March 31, 2018 755,323 108.26 3.61 $ 99,521,692 Vested and expected to vest at March 31, 2018 738,585 107.43 3.57 97,934,520 Exercisable at March 31, 2018 416,281 87.28 2.50 63,585,697 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 $240.01 as of March 31, 2018 . The total intrinsic value of options exercised during the three months ended March 31, 2018 was $9.4 million , compared to $16.5 million for the comparable 2017 period. The table below provides information for restricted stock units under the 2006 Equity Incentive Plan for the three months ended March 31, 2018 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2017 637,667 $ 135.86 Granted 10,699 237.94 Vested (42,171 ) 126.23 Forfeited (13,332 ) 132.87 Nonvested at March 31, 2018 592,863 138.46 |
Variable Interest Entities
Variable Interest Entities | 3 Months Ended |
Mar. 31, 2018 | |
Investments In Variable Interest Entities [Abstract] | |
Variable Interest Entities | 4. 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, 2018 and December 31, 2017 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs March 31, 2018: Assets: Cash and cash equivalents $ 5,040 $ — $ — Non-marketable and other equity securities (1) 200,246 501,810 501,810 Accrued interest receivable and other assets 466 — — Total assets $ 205,752 $ 501,810 $ 501,810 Liabilities: Other liabilities (1) 717 137,783 — Total liabilities $ 717 $ 137,783 $ — December 31, 2017: Assets: Cash and cash equivalents $ 6,674 $ — $ — Non-marketable and other equity securities (1) 190,562 346,097 346,097 Accrued interest receivable and other assets 365 — — Total assets $ 197,601 $ 346,097 $ 346,097 Liabilities: Other liabilities (1) 990 100,891 — Total liabilities $ 990 $ 100,891 $ — (1) Included in our unconsolidated non-marketable and other equity securities portfolio at March 31, 2018 and December 31, 2017 are investments in qualified affordable housing projects of $225.8 million and $174.2 million , respectively, and related other liabilities consisting of unfunded credit commitments of $137.8 million and $100.9 million , respectively. Non-marketable and other equity securities Our non-marketable and other equity 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 equity 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 13—“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, 2018 , our exposure to loss with respect to the consolidated VIEs is limited to our net assets of $205.0 million and our exposure to loss for our unconsolidated VIEs is equal to our investment in these assets of $501.8 million . |
Cash and Cash Equivalents
Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | 5. Cash and Cash Equivalents The following table details our cash and cash equivalents at March 31, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Cash and due from banks (1) $ 2,241,287 $ 2,672,290 Securities purchased under agreements to resell (2) 375,180 247,876 Other short-term investment securities 2,917 2,909 Total cash and cash equivalents $ 2,619,384 $ 2,923,075 (1) At March 31, 2018 and December 31, 2017 , $378.2 million and $624.0 million , respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were both $1.1 billion at March 31, 2018 and December 31, 2017 . (2) At March 31, 2018 and December 31, 2017 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $382.7 million an d $252.8 million , respectively. None of these securities were sold or repledged as of March 31, 2018 and December 31, 2017 . |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 6. 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 equity securities portfolio, which primarily represents investments managed as part of our funds management business as well as public equity securities held as a result of equity warrant assets exercised. Available-for-Sale Securities The components of our available-for-sale investment securities portfolio at March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 6,066,397 $ — $ (49,520 ) $ 6,016,877 U.S. agency debentures 1,569,943 321 (8,430 ) 1,561,834 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,198,479 97 (52,403 ) 2,146,173 Agency-issued collateralized mortgage obligations—variable rate 354,252 1,375 (127 ) 355,500 Total available-for-sale securities $ 10,189,071 $ 1,793 $ (110,480 ) $ 10,080,384 December 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 6,865,068 $ 1,113 $ (25,679 ) $ 6,840,502 U.S. agency debentures 1,569,195 3,569 (5,636 ) 1,567,128 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,292,311 258 (25,534 ) 2,267,035 Agency-issued collateralized mortgage obligations—variable rate 372,481 1,375 (126 ) 373,730 Equity securities 31,953 40,525 (209 ) 72,269 Total available-for-sale securities $ 11,131,008 $ 46,840 $ (57,184 ) $ 11,120,664 The following table summarizes sale activity of available-for-sale securities during the three months ended March 31, 2018 and 2017 as recorded in the line item “Gains on investment securities, net”, a component of noninterest income: Three months ended March 31, (Dollars in thousands) 2018 2017 Sales proceeds $ — $ 2,078 Net realized gains and losses: Gross realized gains — 675 Gross realized losses — (67 ) Net realized gains and losses $ — $ 608 The following tables summarize our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months, or 12 months or longer as of March 31, 2018 and December 31, 2017 : March 31, 2018 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 $ 5,319,620 $ (45,520 ) $ 697,257 $ (4,000 ) $ 6,016,877 $ (49,520 ) U.S. agency debentures 1,079,618 (4,168 ) 335,109 (4,262 ) 1,414,727 (8,430 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,118,967 (52,403 ) — — 2,118,967 (52,403 ) Agency-issued collateralized mortgage obligations—variable rate 21,511 (7 ) 50,004 (120 ) 71,515 (127 ) Total temporarily impaired securities (1) $ 8,539,716 $ (102,098 ) $ 1,082,370 $ (8,382 ) $ 9,622,086 $ (110,480 ) (1) As of March 31, 2018 , we identified a total of 281 investments that were in unrealized loss positions, of which 52 investments totaling $1.1 billion with unrealized losses of $8.4 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2018 , we do not intend to sell any of our impaired 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, 2018 , 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, 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 $ 5,968,914 $ (23,397 ) $ 323,966 $ (2,282 ) $ 6,292,880 $ (25,679 ) U.S. agency debentures 736,541 (2,289 ) 336,196 (3,347 ) 1,072,737 (5,636 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,193,277 (25,534 ) — — 2,193,277 (25,534 ) Agency-issued collateralized mortgage obligations—variable rate 13,843 (3 ) 53,186 (123 ) 67,029 (126 ) Equity securities 624 (209 ) — — 624 (209 ) Total temporarily impaired securities (1) $ 8,913,199 $ (51,432 ) $ 713,348 $ (5,752 ) $ 9,626,547 $ (57,184 ) (1) As of December 31, 2017 , we identified a total of 268 investments that were in unrealized loss positions, of which 46 investments totaling $713.3 million with unrealized losses of $5.8 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, 2018 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 interest rate environments. March 31, 2018 (Dollars in thousands) Total One Year After One After Five After U.S. Treasury securities $ 6,016,877 $ 2,213,143 $ 3,803,734 $ — $ — U.S. agency debentures 1,561,834 506,280 1,055,554 — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations — fixed rate 2,146,173 — — 66,459 2,079,714 Agency-issued collateralized mortgage obligations — variable rate 355,500 — — — 355,500 Total $ 10,080,384 $ 2,719,423 $ 4,859,288 $ 66,459 $ 2,435,214 Held-to-Maturity Securities The components of our held-to-maturity investment securities portfolio at March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 714,008 $ 466 $ (6,900 ) $ 707,574 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 8,043,443 6,683 (160,250 ) 7,889,876 Agency-issued collateralized mortgage obligations—fixed rate 2,665,485 24 (81,612 ) 2,583,897 Agency-issued collateralized mortgage obligations—variable rate 243,749 718 (29 ) 244,438 Agency-issued commercial mortgage-backed securities 1,833,961 — (52,121 ) 1,781,840 Municipal bonds and notes 1,048,210 691 (27,087 ) 1,021,814 Total held-to-maturity securities $ 14,548,856 $ 8,582 $ (327,999 ) $ 14,229,439 (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, 2017 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 659,979 $ 3,167 $ (1,601 ) $ 661,545 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 6,304,969 4,854 (43,528 ) 6,266,295 Agency-issued collateralized mortgage obligations—fixed rate 2,829,979 23 (54,372 ) 2,775,630 Agency-issued collateralized mortgage obligations—variable rate 255,782 733 (34 ) 256,481 Agency-issued commercial mortgage-backed securities 1,868,985 694 (25,563 ) 1,844,116 Municipal bonds and notes 743,761 3,452 (3,000 ) 744,213 Total held-to-maturity securities $ 12,663,455 $ 12,923 $ (128,098 ) $ 12,548,280 (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, 2018 and December 31, 2017 : March 31, 2018 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 $ 624,806 $ (6,900 ) $ — $ — $ 624,806 $ (6,900 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 5,974,994 (144,458 ) 380,892 (15,792 ) 6,355,886 (160,250 ) Agency-issued collateralized mortgage obligations—fixed rate 938,137 (23,922 ) 1,645,496 (57,690 ) 2,583,633 (81,612 ) Agency-issued collateralized mortgage obligations—variable rate — — 9,317 (29 ) 9,317 (29 ) Agency-issued commercial mortgage-backed securities 1,042,701 (30,719 ) 739,139 (21,402 ) 1,781,840 (52,121 ) Municipal bonds and notes 803,271 (26,367 ) 20,264 (720 ) 823,535 (27,087 ) Total temporarily impaired securities (1) $ 9,383,909 $ (232,366 ) $ 2,795,108 $ (95,633 ) $ 12,179,017 $ (327,999 ) (1) As of March 31, 2018 , we identified a total of 1,115 investments that were in unrealized loss positions, of which 223 investments totaling $2.8 billion with unrealized losses of $95.6 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2018 , we do not intend to sell any of our impaired 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, 2018 , 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, 2017 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 $ 104,688 $ (1,601 ) $ — $ — $ 104,688 $ (1,601 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 4,270,377 (34,092 ) 408,913 (9,436 ) 4,679,290 (43,528 ) Agency-issued collateralized mortgage obligations—fixed rate 1,011,709 (13,631 ) 1,741,614 (40,741 ) 2,753,323 (54,372 ) Agency-issued collateralized mortgage obligations—variable rate — — 9,812 (34 ) 9,812 (34 ) Agency-issued commercial mortgage-backed securities 979,361 (11,566 ) 773,712 (13,997 ) 1,753,073 (25,563 ) Municipal bonds and notes 344,796 (2,103 ) 32,844 (897 ) 377,640 (3,000 ) Total temporarily impaired securities (1) $ 6,710,931 $ (62,993 ) $ 2,966,895 $ (65,105 ) $ 9,677,826 $ (128,098 ) (1) As of December 31, 2017 , we identified a total of 753 investments that were in unrealized loss positions, of which 237 investments totaling $3.0 billion with unrealized losses of $65.1 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, 2018 . 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 interest rate environments. March 31, 2018 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 $ 714,008 $ 707,574 $ — $ — $ 122,092 $ 121,289 $ 591,916 $ 586,285 $ — $ — Residential mortgage-backed securities: Agency-issued mortgage-backed securities 8,043,443 7,889,876 718 715 198,545 194,426 273,432 266,194 7,570,748 7,428,541 Agency-issued collateralized mortgage obligations — fixed rate 2,665,485 2,583,897 — — — — 438,437 422,211 2,227,048 2,161,686 Agency-issued collateralized mortgage obligations — variable rate 243,749 244,438 — — — — — — 243,749 244,438 Agency-issued commercial mortgage-backed securities 1,833,961 1,781,840 — — — — — — 1,833,961 1,781,840 Municipal bonds and notes 1,048,210 1,021,814 8,185 8,157 73,912 72,861 237,606 229,079 728,507 711,717 Total $ 14,548,856 $ 14,229,439 $ 8,903 $ 8,872 $ 394,549 $ 388,576 $ 1,541,391 $ 1,503,769 $ 12,604,013 $ 12,328,222 Non-marketable and Other Equity Securities The components of our non-marketable and other equity securities portfolio at March 31, 2018 and December 31, 2017 are as follows: (Dollars in thousands) March 31, 2018 December 31, 2017 Non-marketable and other equity securities: Non-marketable securities (fair value accounting): Consolidated venture capital and private equity fund investments (1) $ 130,015 $ 128,111 Unconsolidated venture capital and private equity fund investments (2) 205,651 98,548 Other investments without a readily determinable fair value (3) 29,825 27,680 Other equity securities in public companies (fair value accounting) (4) 4,694 310 Non-marketable securities (equity method accounting) (5): Venture capital and private equity fund investments 97,929 89,809 Debt funds 18,884 21,183 Other investments 112,115 111,198 Investments in qualified affordable housing projects, net (6) 225,823 174,214 Total non-marketable and other equity securities $ 824,936 $ 651,053 (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, 2018 and December 31, 2017 (fair value accounting): March 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ownership % Amount Ownership % Strategic Investors Fund, LP $ 14,767 12.6 % $ 14,673 12.6 % Capital Preferred Return Fund, LP 56,541 20.0 54,147 20.0 Growth Partners, LP 57,706 33.0 58,372 33.0 CP I, LP 1,001 10.7 919 10.7 Total consolidated venture capital and private equity fund investments $ 130,015 $ 128,111 (2) The carrying value represents investments in 229 and 235 funds (primarily venture capital funds) at March 31, 2018 and December 31, 2017 , 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. Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which eliminated the concept of cost method accounting. On a prospective basis we will carry our unconsolidated venture capital and private equity fund investments at fair value based on the fund investments' net asset values 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. We recorded a cumulative adjustment to opening retained earnings on January 1, 2018 for the difference between fair value and cost for these fund investments. The estimated fair value and carrying value of these venture capital and private equity fund investments was $205.7 million as of March 31, 2018 . As of December 31, 2017, these investments were carried at cost and had a carrying value of $98.5 million . (3) Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which eliminated the concept of cost method accounting. On a prospective basis we will report our other investments in the line item "Other investments without a readily determinable fair value". These investments include direct equity investments in private companies. The carrying value is based on the price at which the investment was acquired plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. We consider a range of factors when adjusting the fair value of these investments, including, but not limited to, the term and nature of the investment, local market conditions, values for comparable securities, current and projected operating performance, exit strategies, financing transactions subsequent to the acquisition of the investment and a discount for certain investments that have lock-up restrictions or other features that indicate a discount to fair value is warranted. The following table shows the changes to the carrying amount of other investments without a readily determinable fair value for the three months ended March 31, 2018: (Dollars in thousands) Other Investments Carrying value as of December 31, 2017 $ 27,680 Downward adjustments (2,069 ) Upward adjustments 4,214 Carrying value as of March 31, 2018 $ 29,825 (4) Investments classified as other equity securities (fair value accounting) represent shares held in public companies as a result of exercising public equity warrant assets and direct public equity investments in public companies held by our consolidated funds. Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which requires equity securities to be measured at fair value with changes in the fair value recognized through net income. Prior to January 1, 2018 we reported equity securities in public companies that we held as a result of exercising public equity warrant assets in available-for-sale securities. On a prospective basis, these equity securities will be reported in non-marketable and other equity securities. (5) The following table shows the carrying value and our ownership percentage of each investment at March 31, 2018 and December 31, 2017 (equity method accounting): March 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: Strategic Investors Fund II, LP $ 5,653 8.6 % $ 6,342 8.6 % Strategic Investors Fund III, LP 18,480 5.9 18,758 5.9 Strategic Investors Fund IV, LP 27,408 5.0 25,551 5.0 Strategic Investors Fund V funds 20,497 Various 16,856 Various CP II, LP (i) 6,797 5.1 6,700 5.1 Other venture capital and private equity fund investments 19,094 Various 15,602 Various Total venture capital and private equity fund investments $ 97,929 $ 89,809 Debt funds: Gold Hill Capital 2008, LP (ii) $ 15,978 15.5 % $ 18,690 15.5 % Other debt funds 2,906 Various 2,493 Various Total debt funds $ 18,884 $ 21,183 Other investments: SPD Silicon Valley Bank Co., Ltd. $ 76,384 50.0 % $ 75,337 50.0 % Other investments 35,731 Various 35,861 Various Total other investments $ 112,115 $ 111,198 (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) Our ownership includes 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 . (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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Investments in qualified affordable housing projects, net $ 225,823 $ 174,214 Other liabilities 137,783 100,891 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Tax credits and other tax benefits recognized $ 5,422 $ 4,692 Amortization expense included in provision for income taxes (i) 4,792 3,236 (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 net gains and losses on non-marketable and other equity securities for the three months ended March 31, 2018 as recorded in the line item “Gains on investment securities, net”, a component of noninterest income: Three months ended March 31, (Dollars in thousands) 2018 2017 Net gains (losses) on non-marketable and other equity securities: Non-marketable securities (fair value accounting): Consolidated venture capital and private equity fund investments $ 11,647 $ 6,463 Unconsolidated venture capital and private equity fund investments (1) 11,719 3,047 Other investments without a readily determinable fair value (1) 1,741 3,373 Other equity securities in public companies (fair value accounting) (1) (22,282 ) (82 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 9,569 3,734 Debt funds (2,299 ) (431 ) Other investments (1,037 ) (742 ) Total net gains on non-marketable and other securities $ 9,058 $ 15,362 Less: Net (losses) gains on investment securities sold (22,490 ) 3,373 Unrealized net gains on investment securities still held $ 31,548 $ 11,989 (1) Prior period amounts are not determined in a manner consistent with the current period presentation due to the adoption of accounting standard update (ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825)). |
Loans, Allowance for Loan Losse
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
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 $158 million and $148 million at March 31, 2018 and December 31, 2017 , respectively, is presented in the following table: (Dollars in thousands) March 31, 2018 December 31, 2017 Commercial loans: Software/internet $ 6,209,084 $ 6,172,531 Hardware 1,336,000 1,193,599 Private equity/venture capital 11,211,816 9,952,377 Life science/healthcare 1,932,608 1,808,827 Premium wine 188,943 204,105 Other 219,467 365,724 Total commercial loans 21,097,918 19,697,163 Real estate secured loans: Premium wine (1) 676,081 669,053 Consumer loans (2) 2,362,340 2,300,506 Other 41,646 42,068 Total real estate secured loans 3,080,067 3,011,627 Construction loans 59,012 68,546 Consumer loans 350,947 328,980 Total loans, net of unearned income (3) $ 24,587,944 $ 23,106,316 (1) Included in our premium wine portfolio are gross construction loans of $101 million and $100 million at March 31, 2018 and December 31, 2017 , respectively. (2) Consumer loans secured by real estate at March 31, 2018 and December 31, 2017 were comprised of the following: (Dollars in thousands) March 31, 2018 December 31, 2017 Loans for personal residence $ 2,048,676 $ 1,995,840 Loans to eligible employees 249,050 243,118 Home equity lines of credit 64,614 61,548 Consumer loans secured by real estate $ 2,362,340 $ 2,300,506 (3) Included within our total loan portfolio are credit card loans of $307 million and $270 million at March 31, 2018 and December 31, 2017 , respectively. Credit Quality The composition of loans, net of unearned income of $158 million and $148 million at March 31, 2018 and December 31, 2017 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) March 31, 2018 December 31, 2017 Commercial loans: Software/internet $ 6,209,084 $ 6,172,531 Hardware 1,336,000 1,193,599 Private equity/venture capital 11,211,816 9,952,377 Life science/healthcare 1,932,608 1,808,827 Premium wine 865,024 873,158 Other 320,125 476,338 Total commercial loans 21,874,657 20,476,830 Consumer loans: Real estate secured loans 2,362,340 2,300,506 Other consumer loans 350,947 328,980 Total consumer loans 2,713,287 2,629,486 Total loans, net of unearned income $ 24,587,944 $ 23,106,316 The following table summarizes the aging of our gross loans, broken out by portfolio segment and class of financing receivable as of March 31, 2018 and December 31, 2017 : (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, 2018: Commercial loans: Software/internet $ 30,557 $ 10,670 $ 3 $ 41,230 $ 6,113,585 $ 3 Hardware 5,502 45 — 5,547 1,306,873 — Private equity/venture capital 357,936 49,207 — 407,143 10,814,598 — Life science/healthcare 4,193 49 4 4,246 1,972,241 4 Premium wine 708 — — 708 862,530 — Other — — — — 328,847 — Total commercial loans 398,896 59,971 7 458,874 21,398,674 7 Consumer loans: Real estate secured loans 599 — — 599 2,354,108 — Other consumer loans 557 — — 557 349,301 — Total consumer loans 1,156 — — 1,156 2,703,409 — Total gross loans excluding impaired loans 400,052 59,971 7 460,030 24,102,083 7 Impaired loans 8,113 1,246 33,209 42,568 141,071 — Total gross loans $ 408,165 $ 61,217 $ 33,216 $ 502,598 $ 24,243,154 $ 7 December 31, 2017: Commercial loans: Software/internet $ 14,257 $ 6,526 $ 141 $ 20,924 $ 6,101,147 $ 141 Hardware 1,145 77 50 1,272 1,163,278 50 Private equity/venture capital 86,566 38,580 — 125,146 9,835,317 — Life science/healthcare 4,390 191 — 4,581 1,841,692 — Premium wine 418 — — 418 871,074 — Other 445 — — 445 490,292 — Total commercial loans 107,221 45,374 191 152,786 20,302,800 191 Consumer loans: Real estate secured loans 2,164 532 — 2,696 2,292,980 — Other consumer loans 796 — — 796 327,234 — Total consumer loans 2,960 532 — 3,492 2,620,214 — Total gross loans excluding impaired loans 110,181 45,906 191 156,278 22,923,014 191 Impaired loans 1,344 11,902 30,403 43,649 131,212 — Total gross loans $ 111,525 $ 57,808 $ 30,594 $ 199,927 $ 23,054,226 $ 191 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, 2018 and December 31, 2017 : (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, 2018: Commercial loans: Software/internet $ 56,600 $ 59,542 $ 116,142 $ 137,467 Hardware 14,833 21,988 36,821 37,450 Private equity/venture capital 108 — 108 108 Life science/healthcare 19,672 2,617 22,289 26,913 Premium wine 372 2,350 2,722 2,762 Other 14 — 14 94 Total commercial loans 91,599 86,497 178,096 204,794 Consumer loans: Real estate secured loans 4,164 326 4,490 6,043 Other consumer loans 298 755 1,053 1,074 Total consumer loans 4,462 1,081 5,543 7,117 Total $ 96,061 $ 87,578 $ 183,639 $ 211,911 December 31, 2017: Commercial loans: Software/internet $ 49,645 $ 61,009 $ 110,654 $ 129,006 Hardware 15,637 20,713 36,350 41,721 Private equity/venture capital 658 — 658 984 Life science/healthcare 20,521 1,166 21,687 26,360 Premium wine — 2,877 2,877 2,911 Other 32 — 32 165 Total commercial loans 86,493 85,765 172,258 201,147 Consumer loans: Real estate secured loans 1,331 850 2,181 3,712 Other consumer loans 422 — 422 436 Total consumer loans 1,753 850 2,603 4,148 Total $ 88,246 $ 86,615 $ 174,861 $ 205,295 The following tables summarize our average impaired loans and interest income on impaired loans, broken out by portfolio segment and class of financing receivable for the three months ended March 31, 2018 and 2017 : Three months ended March 31, Average impaired loans Interest income on impaired loans (Dollars in thousands) 2018 2017 2018 2017 Commercial loans: Software/internet $ 108,788 $ 109,916 $ 532 $ 422 Hardware 38,426 34,110 363 572 Private equity/venture capital 302 358 — 2 Life science/healthcare 22,679 38,942 37 150 Premium wine 2,769 3,213 36 38 Other 11 1,061 — 4 Total commercial loans 172,975 187,600 968 1,188 Consumer loans: Real estate secured loans 3,063 1,488 — — Other consumer loans 739 2,148 5 8 Total consumer loans 3,802 3,636 5 8 Total average impaired loans $ 176,777 $ 191,236 $ 973 $ 1,196 The following tables summarize the activity relating to our allowance for loan losses for the three months ended March 31, 2018 and 2017 , broken out by portfolio segment: Three months ended March 31, 2018 Beginning Balance December 31, 2017 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2018 (Dollars in thousands) Commercial loans: Software/internet $ 96,104 $ (6,671 ) $ 573 $ 12,801 $ 488 $ 103,295 Hardware 27,614 (2,953 ) 588 3,104 119 28,472 Private equity/venture capital 82,468 — 10 8,805 335 91,618 Life science/healthcare 24,924 (864 ) 53 1,631 62 25,806 Premium wine 3,532 — — (161 ) (6 ) 3,365 Other 3,941 (99 ) 537 (906 ) 9 3,482 Total commercial loans 238,583 (10,587 ) 1,761 25,274 1,007 256,038 Total consumer loans 16,441 — 27 1,722 66 18,256 Total allowance for loan losses $ 255,024 $ (10,587 ) $ 1,788 $ 26,996 $ 1,073 $ 274,294 Three months ended March 31, 2017 Beginning Balance December 31, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2017 (Dollars in thousands) 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 The following table summarizes the activity relating to our allowance for unfunded credit commitments for the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Beginning balance $ 51,770 $ 45,265 Provision for unfunded credit commitments 976 1,055 Foreign currency translation adjustments 77 15 Ending balance (1) $ 52,823 $ 46,335 (1) See Note 13—“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, 2018 and December 31, 2017 , broken out by portfolio segment: March 31, 2018 December 31, 2017 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 $ 27,379 $ 116,142 $ 75,916 $ 6,092,942 $ 23,088 $ 110,654 $ 73,016 $ 6,061,877 Hardware 7,087 36,821 21,385 1,299,179 8,450 36,350 19,164 1,157,249 Private equity/venture capital 108 108 91,510 11,211,708 330 658 82,138 9,951,719 Life science/healthcare 8,149 22,289 17,657 1,910,319 9,315 21,687 15,609 1,787,140 Premium wine — 2,722 3,365 862,302 — 2,877 3,532 870,281 Other 14 14 3,468 320,111 32 32 3,909 476,306 Total commercial loans 42,737 178,096 213,301 21,696,561 41,215 172,258 197,368 20,304,572 Total consumer loans 1,524 5,543 16,732 2,707,744 578 2,603 15,863 2,626,883 Total $ 44,261 $ 183,639 $ 230,033 $ 24,404,305 $ 41,793 $ 174,861 $ 213,231 $ 22,931,455 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 full repayment of a criticized loan has been deemed improbable under the original contractual terms but full repayment remains probable overall, the loan is considered to be a “Performing Impaired (Criticized)” loan. 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 2017 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, 2018 and December 31, 2017 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total March 31, 2018: Commercial loans: Software/internet $ 5,622,167 $ 532,648 $ 39,691 $ 76,451 $ 6,270,957 Hardware 1,201,029 111,391 21,988 14,833 1,349,241 Private equity/venture capital 11,217,832 3,909 — 108 11,221,849 Life science/healthcare 1,787,185 189,302 2,617 19,672 1,998,776 Premium wine 825,892 37,346 2,350 372 865,960 Other 325,122 3,725 — 14 328,861 Total commercial loans 20,979,227 878,321 66,646 111,450 22,035,644 Consumer loans: Real estate secured loans 2,346,069 8,638 326 4,164 2,359,197 Other consumer loans 349,459 399 — 1,053 350,911 Total consumer loans 2,695,528 9,037 326 5,217 2,710,108 Total gross loans $ 23,674,755 $ 887,358 $ 66,972 $ 116,667 $ 24,745,752 December 31, 2017: Commercial loans: Software/internet $ 5,655,739 $ 466,332 $ 31,794 $ 78,860 $ 6,232,725 Hardware 1,112,574 51,976 20,165 16,185 1,200,900 Private equity/venture capital 9,955,082 5,381 — 658 9,961,121 Life science/healthcare 1,720,613 125,660 1,167 20,520 1,867,960 Premium wine 834,537 36,955 2,476 401 874,369 Other 469,721 21,016 — 32 490,769 Total commercial loans 19,748,266 707,320 55,602 116,656 20,627,844 Consumer loans: Real estate secured loans 2,282,375 13,301 — 2,181 2,297,857 Other consumer loans 326,851 1,179 — 422 328,452 Total consumer loans 2,609,226 14,480 — 2,603 2,626,309 Total gross loans $ 22,357,492 $ 721,800 $ 55,602 $ 119,259 $ 23,254,153 Troubled Debt Restructurings As of March 31, 2018 we had 21 TDRs with a total carrying value of $141.0 million where concessions have been granted to borrowers experiencing financial difficulties, in an attempt to maximize collection. There were $0.4 million of unfunded commitments available for funding to the clients associated with these TDRs as of March 31, 2018 . The following table summarizes our loans modified in TDRs, broken out by portfolio segment and class of financing receivables at March 31, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Loans modified in TDRs: Commercial loans: Software/internet $ 67,205 $ 73,455 Hardware 50,030 51,132 Private equity/venture capital — 350 Life science/healthcare 20,037 19,235 Premium wine 3,137 3,198 Total commercial loans 140,409 147,370 Consumer loans: Other consumer loans 577 423 Total $ 140,986 $ 147,793 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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Loans modified in TDRs during the period: Commercial loans: Software/internet $ 756 $ 6,309 Hardware 1,559 — Life science/healthcare 1,239 — Total commercial loans 3,554 6,309 Consumer loans: Other consumer loans 326 — Total loans modified in TDRs during the period (1) $ 3,880 $ 6,309 (1) There were no partial charge-offs during the three months ended March 31, 2018 and $6.2 million of partial charge-offs during the three months ended March 31, 2017 , respectively. During the three months ended March 31, 2018 all new TDRs of $3.9 million were modified through payment deferrals granted to our clients. During the three months ended March 31, 2017 , all new TDRs of $6.3 million were modified through payment deferrals granted to our clients. The related allowance for loan losses for the majority of our TDRs is determined on an individual basis by comparing the carrying value of the loan to the present value of the estimated future cash flows, discounted at the pre-modification contractual interest rate. For certain TDRs, the related allowance for loan losses is determined based on the fair value of the collateral if the loan is collateral dependent. The following table summarizes the recorded investment in loans modified in TDRs within the previous 12 months that subsequently defaulted during the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Software/internet $ 3,032 $ — Hardware — 3,105 Total commercial loans 3,032 3,105 Consumer loans: Other consumer loans — 536 Total TDRs modified within the previous 12 months that defaulted in the period $ 3,032 $ 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, 2018 . |
Short-Term Borrowings and Long-
Short-Term Borrowings and Long-Term Debt | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings and Long-Term Debt | 8. Short-Term Borrowings and Long-Term Debt The following table represents outstanding short-term borrowings and long-term debt at March 31, 2018 and December 31, 2017 : Carrying Value (Dollars in thousands) Maturity Principal value at March 31, 2018 March 31, December 31, Short-term borrowings: Short-term FHLB advances April 2, 2018 $ 700,000 $ 700,000 $ 700,000 Federal funds purchased April 2, 2018 395,000 395,000 330,000 Other short-term borrowings (1) 7,140 7,140 3,730 Total short-term borrowings $ 1,102,140 $ 1,033,730 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 347,386 $ 347,303 5.375% Senior Notes September 15, 2020 350,000 348,345 348,189 Total long-term debt $ 695,731 $ 695,492 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor. Interest expense related to short-term borrowings and long-term debt was $0.4 million and $8.0 million for the three months ended March 31, 2018 , respectively. The weighted average interest rate associated with our short-term borrowings was 1.82 percent as of March 31, 2018 and 1.39 percent as of December 31, 2017. Available Lines of Credit We have certain facilities in place to enable us to access short-term borrowings on a secured (using loans and AFS securities as collateral) and an unsecured basis. These include repurchase agreements and uncommitted federal funds lines with various financial institutions. As of March 31, 2018 , we had borrowings of $395.0 million outstanding against our uncommitted federal funds lines. We also pledge securities to the FHLB of San Francisco and the discount window at the FRB. The fair value of collateral pledged to the FHLB of San Francisco (comprised primarily of loans and U.S. Treasury securities) at March 31, 2018 totaled $3.8 billion , of which $3.1 billion was unused and available to support additional borrowings. The fair value of collateral pledged at the discount window of the FRB (comprised primarily of U.S. Treasury securities and U.S. agency debentures) at March 31, 2018 totaled $1.0 billion , all of which was unused and available to support additional borrowings. |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 9. Derivative Financial Instruments We primarily use derivative financial instruments to manage currency exchange rate risk and to assist customers with their risk management objectives, which may include currency exchange rate risks and interest rate risks. 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. 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 2017 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 and fair value of our derivative financial instruments at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 Notional or Contractual Amount Fair Value Notional or Contractual Amount Fair Value (Dollars in thousands) Derivative Assets (1) Derivative Liabilities (1) Derivative Assets (1) Derivative Liabilities (1) Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards $ 490,255 $ 6,713 $ — $ 50,889 $ 414 $ — Foreign exchange forwards 393,082 — 10,244 425,055 — 5,201 Other derivative instruments: Equity warrant assets 222,373 135,669 — 211,253 123,763 — Client foreign exchange forwards 2,159,827 99,905 — 2,203,643 95,035 — Client foreign exchange forwards 2,077,802 — 92,195 2,092,207 — 90,253 Client foreign currency options 146,954 1,886 — 102,678 1,187 — Client foreign currency options 146,954 — 1,886 102,678 — 1,187 Client interest rate derivatives (2) 287,489 5,070 — 726,984 11,753 — Client interest rate derivatives 770,653 — 13,369 782,586 — 11,940 Total Derivatives not designated as hedging instruments $ 249,243 $ 117,694 $ 232,152 $ 108,581 (1) Derivative assets and liabilities are included in " other interest receivables and other assets " and " other liabilities " , respectively, on our consolidated balance sheets. (2) The amount reported for March 31, 2018 reflects rule changes implemented by two central clearing houses that allow entities to elect to treat derivative assets, liabilities and the related variation margin as settlement of the related derivative fair values for legal and accounting purposes, as opposed to presenting gross derivative assets and liabilities. As a result, client interest rate derivatives at March 31, 2018 , reflect reductions of approximately $8.6 million of derivative assets that previously would have been reported on a gross basis and approximately $433.6 million in related notional amounts for these derivative assets cleared through central clearing houses. A summary of our derivative activity and the related impact on our consolidated statements of income for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) Statement of income location 2018 2017 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ — $ 554 Changes in fair value of interest rate swaps Other noninterest income — (1 ) Net gains associated with interest rate risk derivatives $ — $ 553 Derivatives not designated as hedging instruments: Currency exchange risks: Gains on revaluations of internal foreign currency instruments, net Other noninterest income $ 2,926 $ 4,108 Losses on internal foreign exchange forward contracts, net Other noninterest income (3,512 ) (3,245 ) Net (losses) gains associated with internal currency risk $ (586 ) $ 863 Other derivative instruments: Gains on revaluations of client foreign currency instruments, net Other noninterest income $ 7,653 $ 2,754 Losses on client foreign exchange forward contracts, net Other noninterest income (7,114 ) (2,289 ) Net gains associated with client currency risk $ 539 $ 465 Net gains on equity warrant assets Gains on equity warrant assets, net $ 19,191 $ 6,690 Net gains (losses) on other derivatives Other noninterest income $ 431 $ (276 ) 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, 2018 and December 31, 2017 : 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 (1) March 31, 2018 Derivative Assets: Foreign exchange forwards $ 106,618 $ — $ 106,618 $ (17,027 ) $ (5,264 ) $ 84,327 Foreign currency options 1,886 — 1,886 (574 ) — 1,312 Client interest rate derivatives 5,070 — 5,070 (3,194 ) (1,876 ) — Total derivative assets 113,574 — 113,574 (20,795 ) (7,140 ) 85,639 Reverse repurchase, securities borrowing, and similar arrangements 375,180 — 375,180 (375,180 ) — — Total $ 488,754 $ — $ 488,754 $ (395,975 ) $ (7,140 ) $ 85,639 December 31, 2017 Derivative Assets: Foreign exchange forwards $ 95,449 $ — $ 95,449 $ (14,570 ) $ (3,616 ) $ 77,263 Foreign currency options 1,187 — 1,187 (557 ) — 630 Client interest rate derivatives 11,753 — 11,753 (11,627 ) (114 ) 12 Total derivative assets 108,389 — 108,389 (26,754 ) (3,730 ) 77,905 Reverse repurchase, securities borrowing, and similar arrangements 247,876 — 247,876 (247,876 ) — — Total $ 356,265 $ — $ 356,265 $ (274,630 ) $ (3,730 ) $ 77,905 (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. The following table summarizes our liabilities subject to enforceable master netting arrangements as of March 31, 2018 and December 31, 2017 : 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 (1) March 31, 2018 Derivative Liabilities: Foreign exchange forwards $ 102,439 $ — $ 102,439 $ (6,624 ) $ (82,502 ) $ 13,313 Foreign currency options 1,886 — 1,886 (962 ) (434 ) 490 Client interest rate derivatives 13,369 — 13,369 — (13,278 ) 91 Total derivative liabilities 117,694 — 117,694 (7,586 ) (96,214 ) 13,894 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 117,694 $ — $ 117,694 $ (7,586 ) $ (96,214 ) $ 13,894 December 31, 2017 Derivative Liabilities: Foreign exchange forwards $ 95,454 $ — $ 95,454 $ (10,997 ) $ (69,110 ) $ 15,347 Foreign currency options 1,187 — 1,187 (501 ) (130 ) 556 Client interest rate derivatives 11,940 — 11,940 — (11,924 ) 16 Total derivative liabilities 108,581 — 108,581 (11,498 ) (81,164 ) 15,919 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 108,581 $ — $ 108,581 $ (11,498 ) $ (81,164 ) $ 15,919 (1) Cash collateral pledged to our counterparties in relation to market value exposures of derivative contracts in a liability position is recorded as a component of “cash and cash equivalents " on our consolidated balance sheets. |
Noninterest Income
Noninterest Income | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Noninterest Income | Noninterest Income For the three months ended March 31, 2018, noninterest income was $155.5 million , compared to $117.7 million for the comparable 2017 period. On January 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018, are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our previous accounting methodology under Topic 605. A summary of noninterest income for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Noninterest income: Gains on investment securities, net $ 9,058 $ 15,970 Gains on equity warrant assets, net 19,191 6,690 Foreign exchange fees 33,827 26,247 Credit card fees 21,692 17,730 Deposit service charges 17,699 13,975 Client investment fees 22,875 9,026 Lending related fees 10,735 8,961 Letters of credit and standby letters of credit fees 8,182 6,639 Other 12,259 12,421 Total noninterest income $ 155,518 $ 117,659 Gains on investment securities, net Net gains on investment securities include both gains and losses from our non-marketable and other equity securities, including carried interest, as well as gains and losses from sales of our available-for-sale securities portfolio, when applicable. Our non-marketable and other equity securities portfolio primarily represents investments in venture capital and private equity funds, our China Joint Venture, debt funds, private and public portfolio companies and investments in qualified affordable housing projects. We experience variability in the performance of our non-marketable and other equity securities from period to period, which results in net gains or losses on investment securities (both realized and unrealized). This variability is due to a number of factors, including unrealized changes in the values of our investments, changes in the amount of realized gains from distributions, changes in liquidity events and general economic and market conditions. Unrealized gains from non-marketable and other equity securities for any single period are typically driven by valuation changes, and are therefore subject to potential increases or decreases in future periods. Such variability may lead to volatility in the gains or losses from investment securities. As such, our results for a particular period are not necessarily indicative of our expected performance in a future period. 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 certain sales restrictions to which these equity securities may be subject to (i.e. lock-up agreements), changes in prevailing market prices, market conditions, the actual sales or distributions of securities, the timing of such actual sales or distributions, which, to the extent such securities are managed by our managed funds, are subject to our funds' separate discretionary sales/distributions and governance processes. Carried interest is comprised of preferential allocations of profits recognizable when the return on assets of our individual managed fund of funds and direct venture funds exceeds certain performance targets and is payable to us, as the general partners of the managed funds. The carried interest we earn is often shared with employees, who are also members of the general partner entities. We record carried interest on a quarterly basis by measuring fund performance to date versus the performance target. For our unconsolidated managed funds, carried interest is recorded as gains on investment securities, net. For our consolidated managed funds, it is recorded as a component of net income attributable to noncontrolling interests. Carried interest allocated to others is recorded as a component of net income attributable to noncontrolling interests. Any carried interest paid to us (or our employees) may be subject to reversal to the extent fund performance declines to a level where inception to date carried interest is lower than actual payments made by the funds. The limited partnership agreements for our funds provide that carried interest is generally not paid to the general partners until the funds have provided a full return of contributed capital to the limited partners. Accrued, but unpaid carried interest may be subject to reversal to the extent that the fund performance declines to a level where inception-to-date carried interest is less than prior amounts recognized. Carried interest income is accounted for under an ownership model based on ASC 323 — Equity Method of Accounting and ASC 810 — Consolidation. Our available-for-sale securities portfolio is a fixed income investment portfolio that is managed with the objective of earning an appropriate portfolio yield over the long-term while maintaining sufficient liquidity and credit diversification as well as addressing our asset/liability management objectives. These sales are conducted pursuant to the guidelines of our investment policy related to the management of our liquidity position and interest rate risk. Though infrequent, sales of debt securities in our AFS securities portfolio may result in net gains or losses and are also conducted pursuant to the guidelines of our investment policy. Gains on investment securities are outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our investment-related activities. A summary of gains and losses on investment securities for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Gains on non-marketable and other equity securities, net $ 9,058 $ 15,362 Gains on sales of available-for-sale securities, net — 608 Gains on investment securities, net $ 9,058 $ 15,970 Gains on equity warrant assets, net In connection with negotiating credit facilities and certain other services, we often obtain rights to acquire stock in the form of equity warrant assets in primarily private, venture-backed companies in the technology and life science/healthcare industries. Any changes in fair value from the grant date fair value of equity warrant assets will be recognized as increases or decreases to other assets on our balance sheet and as net gains or losses on equity warrant assets, in noninterest income, a component of consolidated net income. Gains on equity warrant assets are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of net gains on equity warrant assets for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Equity warrant assets: Gains on exercises, net $ 9,927 $ 7,956 Cancellations and expirations (922 ) (634 ) Changes in fair value, net 10,186 (632 ) Net gains on equity warrant assets $ 19,191 $ 6,690 Foreign exchange fees Foreign exchange fees represent the income differential between purchases and sales of foreign currency on behalf of our clients, primarily from spot contracts. Foreign exchange spot contract fees are recognized upon the completion of the single performance obligation, the execution of a spot trade in exchange for a fee. In line with customary business practice, the legal right transfers to the client upon execution of a foreign exchange contract on the trade date, and as such, we currently recognize our fees based on the trade date and are typically settled within two business days. Forward contract and option premium fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of foreign exchange fee income by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Foreign exchange fees by instrument type: Spot contract commissions $ 31,202 $ 22,424 Forward contract commissions 2,485 3,601 Option premium fees 140 222 Total foreign exchange fees $ 33,827 $ 26,247 Credit card fees Credit card fees include interchange income from credit and debit cards and fees earned from processing transactions for merchants. Interchange income is earned after satisfying our performance obligation of providing nightly settlement services to a payment network. Costs related to rewards programs are recorded when the rewards are earned by the customer and presented as a reduction to interchange fee income. Rewards programs continue to be accounted for under ASC 310 - Receivables . Our performance obligations for merchant service fees are to transmit data and funds between the merchant and the payment network. Credit card interchange and merchant service fees are earned daily upon completion of transaction settlement services. Annual card service fees are recognized on a straight-line basis over a 12-month period and continue to be accounted for under ASC 310 - Receivables . A summary of credit card fees by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Credit card fees by instrument type: Card interchange fees, net $ 17,560 $ 13,971 Merchant service fees 2,906 2,740 Card service fees 1,226 1,019 Total credit card fees $ 21,692 $ 17,730 Deposit service charges Deposit service charges include fees earned from performing cash management activities and other deposit account services. Deposit services include, but are not limited to the following: receivables services, which include merchant services, remote capture, lockbox, electronic deposit capture, and fraud control services. Payment and cash management products and services include wire transfer and automated clearing house payment services to enable clients to transfer funds more quickly, as well as business bill pay, business credit and debit cards, account analysis, and disbursement services. Deposit service charges are recognized over the period in which the related performance obligation is provided, generally on a monthly basis. Client investment fees Client investment fees include fees earned from discretionary investment management services for substantially all clients, managing clients’ portfolios based on their investment policies, strategies and objectives and receives investment advisory fees. Revenue is recognized on a monthly basis upon completion of our performance obligation and consideration is typically received in the subsequent month. Included in our sweep money market fees are Rule 12(b)-1 fees, revenue sharing and from customer transactional based fees. Rule 12(b)-1 fees and revenue sharing are recognized as earned based on client funds that are invested in the period, typically monthly. Transactional based fees are earned and recognized on fixed income securities when the transaction is executed on the clients' behalf. Amounts paid to third-party service providers are predominantly expensed, such that client investment fees are recorded gross of payments made to third parties. A summary of client investment fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Client investment fees by type: Sweep money market fees $ 12,322 $ 4,396 Asset management fees (1) 5,358 3,378 Repurchase agreement fees 5,195 1,252 Total client investment fees (2) $ 22,875 $ 9,026 (1) Represents fees earned from investments in third-party money market mutual funds and fixed-income securities managed by SVB Asset Management. (2) Represents fees earned on client investment funds which are maintained at third-party financial institutions and are not recorded on our balance sheet. Lending related fees Unused commitment fees, minimum finance fees and unused line fees are recognized as earned on a monthly basis. Fees that qualify for syndication treatment are recognized at the completion of the syndicated loan deal for which the fees were received. Lending related fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our lending-related activities. A summary of lending related fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending related fees by instrument type: Unused commitment fees $ 8,757 $ 6,567 Other 1,978 2,394 Total lending related fees $ 10,735 $ 8,961 Letters of credit and standby letters of credit fees Commercial and standby letters of credit represent conditional commitments issued by us on behalf of a client to guarantee the performance of the client to a third party when certain specified future events have occurred. Fees generated from letters of credit and standby letters of credit are deferred as a component of other liabilities and recognized in noninterest income over the commitment period using the straight-line method, based on the likelihood that the commitment being drawn down will be remote. Letters of credit and standby letters of credit fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our lending-related activities. Other Other noninterest income primarily includes income from fund management fees and service revenue. Fund management fees are comprised of fees charged directly to our managed funds of funds and direct venture funds. Fund management fees are based upon the contractual terms of the limited partnership agreements and are generally recognized as earned over the specified contract period, which is generally equal to the life of the individual fund. Fund management fees are calculated as a percentage of committed capital and collected in advance and are received quarterly. Fund management fees for certain of our limited partnership agreements are calculated as a percentage of distributions made by the funds and revenue is recorded only at the time of a distribution event. As distribution events are not predetermined for these certain funds, management fees are considered variable and constrained under the new revenue standard. Other noninterest income primarily consists of dividend income on FHLB/FRB stock, correspondent bank rebate income, incentive fees related to carried interest and other fee income. We recognize revenue when our performance obligations are met and record revenues on a daily/monthly basis, quarterly, semi-annually or annual basis. For event driven revenue sources, we recognize revenue when: (i) persuasive evidence of an arrangement exists, (ii) we have performed the service, provided we have no other remaining obligations to the customer, (iii) the fee is fixed or determinable and (iv) collectability is probable. A summary of other noninterest income by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Other noninterest income by instrument type: Fund management fees $ 5,736 $ 5,169 Net (losses) gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1) (47 ) 1,328 Other service revenue 6,570 5,924 Total other noninterest income $ 12,259 $ 12,421 (1) Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments. Disaggregation of Revenue from Contracts with Customers The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. Other Noninterest Expense A summary of other noninterest expense for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending and other client related processing costs $ 3,201 $ 5,539 Data processing services 2,492 2,582 Telephone 2,377 2,703 Dues and publications 850 795 Postage and supplies 667 749 Other 5,107 3,839 Total other noninterest expense $ 14,694 $ 16,207 |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Noninterest Income | Noninterest Income For the three months ended March 31, 2018, noninterest income was $155.5 million , compared to $117.7 million for the comparable 2017 period. On January 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018, are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our previous accounting methodology under Topic 605. A summary of noninterest income for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Noninterest income: Gains on investment securities, net $ 9,058 $ 15,970 Gains on equity warrant assets, net 19,191 6,690 Foreign exchange fees 33,827 26,247 Credit card fees 21,692 17,730 Deposit service charges 17,699 13,975 Client investment fees 22,875 9,026 Lending related fees 10,735 8,961 Letters of credit and standby letters of credit fees 8,182 6,639 Other 12,259 12,421 Total noninterest income $ 155,518 $ 117,659 Gains on investment securities, net Net gains on investment securities include both gains and losses from our non-marketable and other equity securities, including carried interest, as well as gains and losses from sales of our available-for-sale securities portfolio, when applicable. Our non-marketable and other equity securities portfolio primarily represents investments in venture capital and private equity funds, our China Joint Venture, debt funds, private and public portfolio companies and investments in qualified affordable housing projects. We experience variability in the performance of our non-marketable and other equity securities from period to period, which results in net gains or losses on investment securities (both realized and unrealized). This variability is due to a number of factors, including unrealized changes in the values of our investments, changes in the amount of realized gains from distributions, changes in liquidity events and general economic and market conditions. Unrealized gains from non-marketable and other equity securities for any single period are typically driven by valuation changes, and are therefore subject to potential increases or decreases in future periods. Such variability may lead to volatility in the gains or losses from investment securities. As such, our results for a particular period are not necessarily indicative of our expected performance in a future period. 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 certain sales restrictions to which these equity securities may be subject to (i.e. lock-up agreements), changes in prevailing market prices, market conditions, the actual sales or distributions of securities, the timing of such actual sales or distributions, which, to the extent such securities are managed by our managed funds, are subject to our funds' separate discretionary sales/distributions and governance processes. Carried interest is comprised of preferential allocations of profits recognizable when the return on assets of our individual managed fund of funds and direct venture funds exceeds certain performance targets and is payable to us, as the general partners of the managed funds. The carried interest we earn is often shared with employees, who are also members of the general partner entities. We record carried interest on a quarterly basis by measuring fund performance to date versus the performance target. For our unconsolidated managed funds, carried interest is recorded as gains on investment securities, net. For our consolidated managed funds, it is recorded as a component of net income attributable to noncontrolling interests. Carried interest allocated to others is recorded as a component of net income attributable to noncontrolling interests. Any carried interest paid to us (or our employees) may be subject to reversal to the extent fund performance declines to a level where inception to date carried interest is lower than actual payments made by the funds. The limited partnership agreements for our funds provide that carried interest is generally not paid to the general partners until the funds have provided a full return of contributed capital to the limited partners. Accrued, but unpaid carried interest may be subject to reversal to the extent that the fund performance declines to a level where inception-to-date carried interest is less than prior amounts recognized. Carried interest income is accounted for under an ownership model based on ASC 323 — Equity Method of Accounting and ASC 810 — Consolidation. Our available-for-sale securities portfolio is a fixed income investment portfolio that is managed with the objective of earning an appropriate portfolio yield over the long-term while maintaining sufficient liquidity and credit diversification as well as addressing our asset/liability management objectives. These sales are conducted pursuant to the guidelines of our investment policy related to the management of our liquidity position and interest rate risk. Though infrequent, sales of debt securities in our AFS securities portfolio may result in net gains or losses and are also conducted pursuant to the guidelines of our investment policy. Gains on investment securities are outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our investment-related activities. A summary of gains and losses on investment securities for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Gains on non-marketable and other equity securities, net $ 9,058 $ 15,362 Gains on sales of available-for-sale securities, net — 608 Gains on investment securities, net $ 9,058 $ 15,970 Gains on equity warrant assets, net In connection with negotiating credit facilities and certain other services, we often obtain rights to acquire stock in the form of equity warrant assets in primarily private, venture-backed companies in the technology and life science/healthcare industries. Any changes in fair value from the grant date fair value of equity warrant assets will be recognized as increases or decreases to other assets on our balance sheet and as net gains or losses on equity warrant assets, in noninterest income, a component of consolidated net income. Gains on equity warrant assets are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of net gains on equity warrant assets for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Equity warrant assets: Gains on exercises, net $ 9,927 $ 7,956 Cancellations and expirations (922 ) (634 ) Changes in fair value, net 10,186 (632 ) Net gains on equity warrant assets $ 19,191 $ 6,690 Foreign exchange fees Foreign exchange fees represent the income differential between purchases and sales of foreign currency on behalf of our clients, primarily from spot contracts. Foreign exchange spot contract fees are recognized upon the completion of the single performance obligation, the execution of a spot trade in exchange for a fee. In line with customary business practice, the legal right transfers to the client upon execution of a foreign exchange contract on the trade date, and as such, we currently recognize our fees based on the trade date and are typically settled within two business days. Forward contract and option premium fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our derivative-related activities. A summary of foreign exchange fee income by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Foreign exchange fees by instrument type: Spot contract commissions $ 31,202 $ 22,424 Forward contract commissions 2,485 3,601 Option premium fees 140 222 Total foreign exchange fees $ 33,827 $ 26,247 Credit card fees Credit card fees include interchange income from credit and debit cards and fees earned from processing transactions for merchants. Interchange income is earned after satisfying our performance obligation of providing nightly settlement services to a payment network. Costs related to rewards programs are recorded when the rewards are earned by the customer and presented as a reduction to interchange fee income. Rewards programs continue to be accounted for under ASC 310 - Receivables . Our performance obligations for merchant service fees are to transmit data and funds between the merchant and the payment network. Credit card interchange and merchant service fees are earned daily upon completion of transaction settlement services. Annual card service fees are recognized on a straight-line basis over a 12-month period and continue to be accounted for under ASC 310 - Receivables . A summary of credit card fees by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Credit card fees by instrument type: Card interchange fees, net $ 17,560 $ 13,971 Merchant service fees 2,906 2,740 Card service fees 1,226 1,019 Total credit card fees $ 21,692 $ 17,730 Deposit service charges Deposit service charges include fees earned from performing cash management activities and other deposit account services. Deposit services include, but are not limited to the following: receivables services, which include merchant services, remote capture, lockbox, electronic deposit capture, and fraud control services. Payment and cash management products and services include wire transfer and automated clearing house payment services to enable clients to transfer funds more quickly, as well as business bill pay, business credit and debit cards, account analysis, and disbursement services. Deposit service charges are recognized over the period in which the related performance obligation is provided, generally on a monthly basis. Client investment fees Client investment fees include fees earned from discretionary investment management services for substantially all clients, managing clients’ portfolios based on their investment policies, strategies and objectives and receives investment advisory fees. Revenue is recognized on a monthly basis upon completion of our performance obligation and consideration is typically received in the subsequent month. Included in our sweep money market fees are Rule 12(b)-1 fees, revenue sharing and from customer transactional based fees. Rule 12(b)-1 fees and revenue sharing are recognized as earned based on client funds that are invested in the period, typically monthly. Transactional based fees are earned and recognized on fixed income securities when the transaction is executed on the clients' behalf. Amounts paid to third-party service providers are predominantly expensed, such that client investment fees are recorded gross of payments made to third parties. A summary of client investment fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Client investment fees by type: Sweep money market fees $ 12,322 $ 4,396 Asset management fees (1) 5,358 3,378 Repurchase agreement fees 5,195 1,252 Total client investment fees (2) $ 22,875 $ 9,026 (1) Represents fees earned from investments in third-party money market mutual funds and fixed-income securities managed by SVB Asset Management. (2) Represents fees earned on client investment funds which are maintained at third-party financial institutions and are not recorded on our balance sheet. Lending related fees Unused commitment fees, minimum finance fees and unused line fees are recognized as earned on a monthly basis. Fees that qualify for syndication treatment are recognized at the completion of the syndicated loan deal for which the fees were received. Lending related fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our lending-related activities. A summary of lending related fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending related fees by instrument type: Unused commitment fees $ 8,757 $ 6,567 Other 1,978 2,394 Total lending related fees $ 10,735 $ 8,961 Letters of credit and standby letters of credit fees Commercial and standby letters of credit represent conditional commitments issued by us on behalf of a client to guarantee the performance of the client to a third party when certain specified future events have occurred. Fees generated from letters of credit and standby letters of credit are deferred as a component of other liabilities and recognized in noninterest income over the commitment period using the straight-line method, based on the likelihood that the commitment being drawn down will be remote. Letters of credit and standby letters of credit fees are recognized outside of the scope of the new revenue standard as it explicitly excludes noninterest income earned from our lending-related activities. Other Other noninterest income primarily includes income from fund management fees and service revenue. Fund management fees are comprised of fees charged directly to our managed funds of funds and direct venture funds. Fund management fees are based upon the contractual terms of the limited partnership agreements and are generally recognized as earned over the specified contract period, which is generally equal to the life of the individual fund. Fund management fees are calculated as a percentage of committed capital and collected in advance and are received quarterly. Fund management fees for certain of our limited partnership agreements are calculated as a percentage of distributions made by the funds and revenue is recorded only at the time of a distribution event. As distribution events are not predetermined for these certain funds, management fees are considered variable and constrained under the new revenue standard. Other noninterest income primarily consists of dividend income on FHLB/FRB stock, correspondent bank rebate income, incentive fees related to carried interest and other fee income. We recognize revenue when our performance obligations are met and record revenues on a daily/monthly basis, quarterly, semi-annually or annual basis. For event driven revenue sources, we recognize revenue when: (i) persuasive evidence of an arrangement exists, (ii) we have performed the service, provided we have no other remaining obligations to the customer, (iii) the fee is fixed or determinable and (iv) collectability is probable. A summary of other noninterest income by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Other noninterest income by instrument type: Fund management fees $ 5,736 $ 5,169 Net (losses) gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1) (47 ) 1,328 Other service revenue 6,570 5,924 Total other noninterest income $ 12,259 $ 12,421 (1) Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments. Disaggregation of Revenue from Contracts with Customers The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. Other Noninterest Expense A summary of other noninterest expense for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending and other client related processing costs $ 3,201 $ 5,539 Data processing services 2,492 2,582 Telephone 2,377 2,703 Dues and publications 850 795 Postage and supplies 667 749 Other 5,107 3,839 Total other noninterest expense $ 14,694 $ 16,207 |
Segment Reporting
Segment Reporting | 3 Months Ended |
Mar. 31, 2018 | |
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 previously provided equity valuation services and currently provides research for investors and companies in the global innovation economy. In September 2017, SVB Analytics sold its equity valuation services business. ◦ 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, 2018 and 2017 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, 2018 Net interest income $ 369,867 $ 16,247 $ 7 $ 33,742 $ 419,863 Provision for credit losses (25,274 ) (1,722 ) — (976 ) (27,972 ) Noninterest income 99,346 507 28,910 26,755 155,518 Noninterest expense (3) (184,751 ) (6,043 ) (5,046 ) (69,577 ) (265,417 ) Income (loss) before income tax expense (4) $ 259,188 $ 8,989 $ 23,871 $ (10,056 ) $ 281,992 Total average loans, net of unearned income $ 20,679,202 $ 2,666,658 $ — $ 461,352 $ 23,807,212 Total average assets (5) 49,953,950 2,590,476 373,322 (550,506 ) 52,367,242 Total average deposits 44,041,634 1,572,424 — 492,023 46,106,081 Three months ended March 31, 2017 Net interest income $ 275,878 $ 13,610 $ 10 $ 20,495 $ 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) (172,916 ) (3,919 ) (3,472 ) (57,326 ) (237,633 ) Income (loss) before income tax expense (4) $ 153,592 $ 9,619 $ 13,313 $ (17,239 ) $ 159,285 Total average loans, net of unearned income $ 17,647,055 $ 2,245,317 $ — $ 176,942 $ 20,069,314 Total average assets (5) 42,888,126 2,272,825 372,876 (232,793 ) 45,301,034 Total average deposits 38,296,563 1,336,849 — 325,123 39,958,535 (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 or losses on the sale of fixed income investments and equity securities from exercised warrant assets. Noninterest expense consists primarily of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. (3) The Global Commercial Bank segment includes direct depreciation and amortization of $5.5 million and $6.1 million for the three months ended March 31, 2018 and 2017 , 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, 2018 | |
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | |
Off-Balance Sheet Arrangements, Guarantees and Other Commitments | 13. 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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,513,974 $ 1,478,157 Variable interest rate commitments 13,665,905 14,034,169 Total loan commitments available for funding 15,179,879 15,512,326 Commercial and standby letters of credit (2) 1,990,923 1,950,211 Total unfunded credit commitments $ 17,170,802 $ 17,462,537 Commitments unavailable for funding (3) $ 2,602,796 $ 2,117,057 Allowance for unfunded credit commitments (4) 52,823 51,770 (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) 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, 2018 . 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 $ 1,828,990 $ 42,039 $ 1,871,029 $ 1,871,029 Performance standby letters of credit 107,170 2,935 110,105 110,105 Commercial letters of credit 9,364 425 9,789 9,789 Total $ 1,945,524 $ 45,399 $ 1,990,923 $ 1,990,923 Deferred fees related to financial and performance standby letters of credit were $10.8 million at March 31, 2018 and $12.4 million at December 31, 2017 . At March 31, 2018 , collateral in the form of cash of $962.9 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, 2018 : (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) 924 — 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 515 131 Various Capital Preferred Return Fund, LP 12,688 — 20.0 Growth Partners, LP 23,330 1,340 33.0 Debt funds (equity method accounting) 58,493 — Various Other fund investments (2) 301,673 8,772 Various Total $ 462,362 $ 16,013 (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 229 funds (primarily venture capital funds) where our ownership interest is generally less than five 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 Part 1, Item 1 of our 2017 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, 2018 : (Dollars in thousands) Unfunded Commitments Strategic Investors Fund, LP $ 1,338 Capital Preferred Return Fund, LP 1,911 Growth Partners, LP 2,680 Total $ 5,929 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
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 and California tax returns as major tax filings. Our U.S. federal tax returns for 2014 and subsequent tax years remain open to full examination. Our California tax returns for 2013 and subsequent tax years remain open to full examination. At March 31, 2018, our unrecognized tax benefit was $12.8 million , the recognition of which would reduce our income tax expense by $9.9 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, 2018. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value Measurements Our available-for-sale securities, derivative instruments and certain non-marketable and other equity 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: Venture capital and private equity fund investments not measured at net asset value: 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. 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 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 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, 2018 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2018 Assets: Available-for-sale securities: U.S. Treasury securities $ 6,016,877 $ — $ — $ 6,016,877 U.S. agency debentures — 1,561,834 — 1,561,834 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations — fixed rate — 2,146,173 — 2,146,173 Agency-issued collateralized mortgage obligations —v ariable rate — 355,500 — 355,500 Total available-for-sale securities 6,016,877 4,063,507 — 10,080,384 Non-marketable and other equity securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 334,665 Venture capital and private equity fund investments not measured at net asset value (1) — — 1,001 1,001 Other equity securities in public companies 31 4,663 — 4,694 Total non-marketable and other securities (fair value accounting) 31 4,663 1,001 340,360 Other assets: Foreign exchange forward and option contracts — 108,504 — 108,504 Equity warrant assets — 4,163 131,506 135,669 Client interest rate derivatives — 5,070 — 5,070 Total assets $ 6,016,908 $ 4,185,907 $ 132,507 $ 10,669,987 Liabilities: Foreign exchange forward and option contracts $ — $ 104,325 $ — $ 104,325 Client interest rate derivatives — 13,369 — 13,369 Total liabilities $ — $ 117,694 $ — $ 117,694 (1) Included in Level 3 assets is $0.9 million 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, 2017 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2017 Assets: Available-for-sale securities: U.S. Treasury securities $ 6,840,502 $ — $ — $ 6,840,502 U.S. agency debentures — 1,567,128 — 1,567,128 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate — 2,267,035 — 2,267,035 Agency-issued collateralized mortgage obligations—variable rate — 373,730 — 373,730 Equity securities 158 72,111 — 72,269 Total available-for-sale securities 6,840,660 4,280,004 — 11,120,664 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 127,192 Venture capital and private equity fund investments not measured at net asset value (1) — — 919 919 Other equity securities in public companies (1) 310 — — 310 Total non-marketable and other securities (fair value accounting) 310 — 919 128,421 Other assets: Foreign exchange forward and option contracts — 96,636 — 96,636 Equity warrant assets — 2,432 121,331 123,763 Client interest rate derivatives — 11,753 — 11,753 Total assets $ 6,840,970 $ 4,390,825 $ 122,250 $ 11,481,237 Liabilities: Foreign exchange forward and option contracts $ — $ 96,641 $ — $ 96,641 Client interest rate derivatives — 11,940 — 11,940 Total liabilities $ — $ 108,581 $ — $ 108,581 (1) Included in Level 1 and Level 3 assets are $0.2 million and $0.8 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, 2018 and 2017 : (Dollars in thousands) Beginning Balance Total Realized and Unrealized Gains Included in Income Sales Issuances Distributions and Other Settlements Transfers Out of Level 3 Ending Balance Three months ended March 31, 2018 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value(1) $ 919 $ 82 $ — $ — $ — $ — $ 1,001 Other assets: Equity warrant assets (2) 121,331 18,611 (12,128 ) 4,899 — (1,207 ) 131,506 Total assets $ 122,250 $ 18,693 $ (12,128 ) $ 4,899 $ — $ (1,207 ) $ 132,507 Three months ended March 31, 2017 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value(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 (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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value (1) $ 82 $ — Other assets: Equity warrant assets (2) 9,573 (347 ) Total unrealized gains (losses), net $ 9,655 $ (347 ) Unrealized gains attributable to noncontrolling interests (1) $ 73 $ — (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, 2018 and December 31, 2017. 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, 2018: Venture capital and private equity fund investments (fair value accounting) $ 1,001 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,641 Black-Scholes option pricing model Volatility 46.3 % Risk-Free interest rate 2.7 Sales restrictions discount (2) 13.7 Equity warrant assets (private portfolio) 129,865 Black-Scholes option pricing model Volatility 37.0 Risk-Free interest rate 2.2 Marketability discount (3) 16.4 Remaining life assumption (4) 45.0 December 31, 2017: Venture capital and private equity fund investments (fair value accounting) $ 919 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,936 Black-Scholes option pricing model Volatility 47.9 % Risk-Free interest rate 2.1 Sales restrictions discount (2) 15.5 Equity warrant assets (private portfolio) 119,395 Black-Scholes option pricing model Volatility 36.7 Risk-Free interest rate 1.8 Marketability discount (3) 16.4 Remaining life assumption (4) 45.0 (1) In determining the fair value of our venture capital and private equity fund investment portfolio (not measured at net asset value), 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, 2018 , the weighted average contractual remaining term was 6.0 years, compared to our estimated remaining life of 2.7 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. For the three months ended March 31, 2018 and 2017 , we did not have any transfers between Level 2 and Level 1 or transfers between Level 3 and Level 1. All transfers from Level 3 to Level 2 for the three months ended March 31, 2018 and 2017 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. 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, 2018 and December 31, 2017 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 March 31, 2018: Financial assets: Cash and cash equivalents $ 2,619,384 $ 2,619,384 $ 2,619,384 $ — $ — Held-to-maturity securities 14,548,856 14,229,439 — 14,229,439 — Non-marketable securities not measured at net asset value 123,811 123,811 — — 123,811 Non-marketable securities measured at net asset value 134,942 134,942 — — — Net commercial loans 21,618,619 21,810,467 — — 21,810,467 Net consumer loans 2,695,031 2,695,873 — — 2,695,873 FHLB and Federal Reserve Bank stock 60,514 60,514 — — 60,514 Financial liabilities: Other short-term borrowings 1,102,140 1,102,140 1,102,140 — — Non-maturity deposits (1) 45,895,018 45,895,018 45,895,018 — — Time deposits 41,514 41,239 — 41,239 — 3.50% Senior Notes 347,386 343,676 — 343,676 — 5.375% Senior Notes 348,345 369,005 — 369,005 — Off-balance sheet financial assets: Commitments to extend credit — 21,507 — — 21,507 December 31, 2017: Financial assets: Cash and cash equivalents $ 2,923,075 $ 2,923,075 $ 2,923,075 $ — $ — Held-to-maturity securities 12,663,455 12,548,280 — 12,548,280 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 120,019 126,345 — — 126,345 Non-marketable securities (cost and equity method accounting) measured at net asset value 228,399 331,496 — — — Net commercial loans 20,238,247 20,520,623 — — 20,520,623 Net consumer loans 2,613,045 2,593,538 — — 2,593,538 FHLB and Federal Reserve Bank stock 60,020 60,020 — — 60,020 Financial liabilities: Short-term FHLB advances 700,000 700,000 700,000 — — Federal funds purchased 330,000 330,000 330,000 — — Other short-term borrowings 3,730 3,730 3,730 — — Non-maturity deposits (1) 44,206,929 44,206,929 44,206,929 — — Time deposits 47,146 46,885 — 46,885 — 3.50% Senior Notes 347,303 352,058 — 352,058 — 5.375% Senior Notes 348,189 374,483 — 374,483 — Off-balance sheet financial assets: Commitments to extend credit — 22,208 — — 22,208 (1) Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. 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 for any differences between our measurement date and the date of the fund investment’s net asset value by using the most recently available financial information from the investee general partner, for example 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. 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, 2018 : (Dollars in thousands) Carrying Amount Fair Value Unfunded Commitments Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 334,665 $ 334,665 $ 13,817 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (2) 97,929 97,929 4,943 Debt funds (2) 18,884 18,884 — Other investments (2) 18,129 18,129 886 Total $ 469,607 $ 469,607 $ 19,646 (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 (consolidated VIEs) and investments in venture capital and private equity fund investments (unconsolidated VIEs). Collectively, these investments in venture capital and private equity funds are 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 $95.8 million and $4.5 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 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 5 to 8 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Legal Matters
Legal Matters | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 | |
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 may extend 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 17—“Employee Compensation and Benefit Plans" under Part II, Item 8 of our 2017 Form 10-K. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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 based on our ownership percentage. 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 | 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. The guidance requires that revenue from contracts with customers be recognized when transfer of control over goods or services is passed to customers in the amount of consideration expected to be received. Subsequent Accounting Standard Updates have been issued clarifying the original pronouncement (ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20). On January 1, 2018, we adopted the new accounting standard ASU 2014-09, Revenue from Contracts with Customers and all the related amendments ("new revenue standard", "ASC 606" or "ASU 2014-09") using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. We elected to apply the practical expedient which allows us to expense costs related to obtaining contracts as incurred because the amortization period would have been one year or less. We recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We completed a comprehensive scoping exercise to determine the revenue streams that are within the scope of this guidance. The scope of this guidance explicitly excludes net interest income, including interest income earned from our loan and fixed income securities portfolios, as well as certain other noninterest income earned from our lending-, investment- and derivative-related activities. Based on our completed assessment, we did not identify any material changes to the timing or the amounts of our revenue recognition, however, we identified a change in the timing of recognizing fund management fees in other noninterest income for a portion of our SVB Capital funds. Fund management fees for these certain SVB Capital funds will now be recognized at the time of distribution which typically occurs later in the life of the fund than had been previously recognized. The cumulative adjustment to retained earnings associated with this change was $5.8 million , net of tax, with an immaterial impact to our net income on an ongoing basis. The timing of revenue recognition may differ from the timing of cash settlements or invoicing to customers. We record a receivable when revenue is recognized prior to invoicing, and unearned revenue when revenue is recognized subsequent to receipt of consideration. These assets and liabilities are reported on the consolidated balance sheets on a contract-by-contract basis at the end of each reporting period. During the three months ended March 31, 2018, changes in our contract assets, contract liabilities and receivables were not material. Additionally, revenues recognized during the three months ended March 31, 2018 that were included in the corresponding contract liability balance at the beginning of the period were not material. The cumulative effect of the changes to our consolidated balance sheets at January 1, 2018, for the adoption of the new revenue standard were as follows: (Dollars in thousands) Balance at December 31, 2017 Adjustments Due to Adoption of ASC 606 Balance at January 1, 2018 Accrued interest receivable and other assets: Accounts receivable $ 55,946 $ (34,340 ) $ 21,606 Other liabilities: Deferred revenue 27,057 (26,321 ) 736 Current taxes payable 4,675 (2,217 ) 2,458 Stockholders' Equity: Retained earnings 2,866,837 (5,802 ) 2,861,035 In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated balance sheets and statements of income at and for the three months ended March 31, 2018, were as follows: March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Accrued interest receivable and other assets: Accounts receivable $ 47,978 $ 85,077 $ (37,099 ) Other liabilities: Deferred fees 734 28,685 (27,951 ) Current taxes payable 67,001 65,023 1,978 Stockholders' Equity: Retained earnings 3,160,081 3,166,514 (6,433 ) Three months ended March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Other noninterest income: Fund management fees $ 5,736 $ 6,606 $ (870 ) Income tax expense 73,966 74,205 (239 ) Net Income available to common stockholders 194,961 195,592 (631 ) Diluted earnings per share 3.63 3.64 (0.01 ) In February 2018, the FASB issued a new accounting standard update (ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (ASU "2018-02")) to address certain stranded income tax effects in accumulated other comprehensive income ("AOCI") resulting from H.R.1, known as the Tax Cuts and Jobs Act (the "TCJ Act"). ASU 2018-02 changed current accounting whereby an entity may elect to reclassify the stranded tax effect from AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJ Act (or portion thereof) is recorded. ASU 2018-02 is effective for periods beginning after December 15, 2018 and early adoption is permitted. We have elected to early adopt ASU 2018-02 and reclassified approximately $0.3 million from accumulated other comprehensive income to retained earnings within our consolidated statements of stockholders' equity for the three months ended March 31, 2018. On January 1, 2018, we adopted the new accounting standard update ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825), which addresses certain aspects of recognition, measurement, presentation and disclosure of financial instruments. This guidance requires equity investments (except those accounted for under the equity method of accounting) to be measured at fair value with changes in fair value recognized in net income. We adopted this guidance using the modified retrospective method and our equity investments carried at cost with readily determinable fair values were re-measured at fair value and the difference between cost and fair value was recorded as a cumulative-effect adjustment to opening retained earnings as of January 1, 2018. The adjustment to opening retained earnings for these investments was $74.6 million , net of tax, with subsequent changes in the fair value of these equity securities recorded as unrealized gains or losses in our consolidated statements of income. Additionally, in accordance with this guidance, net unrealized gains of $29.2 million , net of tax, included in accumulated other comprehensive income on January 1, 2018, related to our previously reported available-for-sale equity securities, were reclassified as an adjustment to retained earnings. Subsequent changes in the fair value of these equity securities were recorded as unrealized gains or losses in our consolidated statements of income. Furthermore, for purposes of disclosing the fair value of loans carried at amortized cost, our valuation methodology was updated to conform to an “exit price” concept as required by the standard update, resulting in an immaterial change in the fair value. 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. We adopted the new accounting standard, specifically as it relates to distributions from our equity method investments, on January 1, 2018. We elected to adopt the nature of distribution approach and applied the guidance retrospectively. The new guidance had an immaterial impact on the presentation between investing and operating activities within our statements of cash flows related to distributions and net gains from our nonmarketable and other securities portfolio. In November 2016, the FASB issued a new accounting standard update (ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash), which requires that a statement of cash flows explains the change during the period in the total cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. Previous to the update, there had been some diversity in practice. Given that we had already classified restricted cash such as cash reserves at the Federal Reserve as part of cash and cash equivalents on the cash flow statement, the update had no impact on how we were already reporting and presenting our statement of cash flows. Recent Accounting Pronouncements 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 corresponding 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 and are currently evaluating the impact this guidance will have on our consolidated financial statements by reviewing our existing lease contracts and service contracts that may include embedded leases. While we are continuing to assess potential impacts of the standard, we currently expect to recognize right-of-use assets and related lease liabilities associated predominantly with noncancelable operating leases, as included in the table of minimum future payments, in the amount of $226 million as disclosed in Note 19 of our 2017 Form 10-K. 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 over the life of the loan 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 currently have a project team in place and subject matter experts to assist with our review of key interpretive issues and the assessment of our existing credit loss forecasting models and processes against the new guidance to determine what modifications may be required. We are currently evaluating the impact this guidance will have on our financial position, results of operation and stockholders’ equity. |
Reclassifications | Reclassifications Certain prior period amounts, primarily related to the adoption of new accounting guidance, have been reclassified to conform to current period presentations. |
Stockholders' Equity and EPS (T
Stockholders' Equity and EPS (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) Income Statement Location 2018 2017 Reclassification adjustment for gains included in net income Gains on investment securities, net $ — $ (608 ) Related tax expense Income tax expense — 248 Total reclassification adjustment for gains included in net income, net of tax $ — $ (360 ) |
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, 2018 and 2017 : Three months ended March 31, (Dollars and shares in thousands, except per share amounts) 2018 2017 Numerator: Net income available to common stockholders $ 194,961 $ 101,483 Denominator: Weighted average common shares outstanding—basic 52,883 52,344 Weighted average effect of dilutive securities: Stock options and ESPP 420 440 Restricted stock units 382 395 Weighted average common shares outstanding—diluted 53,685 53,179 Earnings per common share: Basic $ 3.69 $ 1.94 Diluted 3.63 1.91 |
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, 2018 and 2017 : Three months ended March 31, (Shares in thousands) 2018 2017 Stock options 4 — Restricted stock units — 21 Total 4 21 |
Basis of Presentation Cumulativ
Basis of Presentation Cumulative Effect upon Adoption - Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Cumulative Effect upon Adoption - Revenue Recognition [Abstract] | |
Revenue recognition adoption impact [Table Text Block] | The cumulative effect of the changes to our consolidated balance sheets at January 1, 2018, for the adoption of the new revenue standard were as follows: (Dollars in thousands) Balance at December 31, 2017 Adjustments Due to Adoption of ASC 606 Balance at January 1, 2018 Accrued interest receivable and other assets: Accounts receivable $ 55,946 $ (34,340 ) $ 21,606 Other liabilities: Deferred revenue 27,057 (26,321 ) 736 Current taxes payable 4,675 (2,217 ) 2,458 Stockholders' Equity: Retained earnings 2,866,837 (5,802 ) 2,861,035 |
Contract with Customer, Asset and Liability | In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated balance sheets and statements of income at and for the three months ended March 31, 2018, were as follows: March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Accrued interest receivable and other assets: Accounts receivable $ 47,978 $ 85,077 $ (37,099 ) Other liabilities: Deferred fees 734 28,685 (27,951 ) Current taxes payable 67,001 65,023 1,978 Stockholders' Equity: Retained earnings 3,160,081 3,166,514 (6,433 ) Three months ended March 31, 2018 (Dollars in thousands) As Reported Balances Without Adoption of ASC 606 Effect of Change Higher/(Lower) Other noninterest income: Fund management fees $ 5,736 $ 6,606 $ (870 ) Income tax expense 73,966 74,205 (239 ) Net Income available to common stockholders 194,961 195,592 (631 ) Diluted earnings per share 3.63 3.64 (0.01 ) |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share Based Compensation and Related Benefits | For the three months ended March 31, 2018 and 2017 , we recorded share-based compensation and related tax benefits as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Share-based compensation expense $ 10,523 $ 9,203 Income tax benefit related to share-based compensation expense (2,317 ) (3,015 ) |
Unrecognized Share Based Compensation Expense | As of March 31, 2018 , unrecognized share-based compensation expense was as follows: (Dollars in thousands) Unrecognized Expense Weighted Average Expected Recognition Period - in Years Stock options $ 8,290 2.48 Restricted stock units 46,036 2.48 Total unrecognized share-based compensation expense $ 54,326 |
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, 2018 : Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life - in Years Aggregate Intrinsic Value of In-The- Money Options Outstanding at December 31, 2017 808,049 $ 105.68 Granted 471 260.72 Exercised (51,271 ) 68.05 Forfeited (1,926 ) 130.69 Outstanding at March 31, 2018 755,323 108.26 3.61 $ 99,521,692 Vested and expected to vest at March 31, 2018 738,585 107.43 3.57 97,934,520 Exercisable at March 31, 2018 416,281 87.28 2.50 63,585,697 |
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, 2018 : Shares Weighted Average Grant Date Fair Value Nonvested at December 31, 2017 637,667 $ 135.86 Granted 10,699 237.94 Vested (42,171 ) 126.23 Forfeited (13,332 ) 132.87 Nonvested at March 31, 2018 592,863 138.46 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 and December 31, 2017 : (Dollars in thousands) Consolidated VIEs Unconsolidated VIEs Maximum Exposure to Loss in Unconsolidated VIEs March 31, 2018: Assets: Cash and cash equivalents $ 5,040 $ — $ — Non-marketable and other equity securities (1) 200,246 501,810 501,810 Accrued interest receivable and other assets 466 — — Total assets $ 205,752 $ 501,810 $ 501,810 Liabilities: Other liabilities (1) 717 137,783 — Total liabilities $ 717 $ 137,783 $ — December 31, 2017: Assets: Cash and cash equivalents $ 6,674 $ — $ — Non-marketable and other equity securities (1) 190,562 346,097 346,097 Accrued interest receivable and other assets 365 — — Total assets $ 197,601 $ 346,097 $ 346,097 Liabilities: Other liabilities (1) 990 100,891 — Total liabilities $ 990 $ 100,891 $ — (1) Included in our unconsolidated non-marketable and other equity securities portfolio at March 31, 2018 and December 31, 2017 are investments in qualified affordable housing projects of $225.8 million and $174.2 million , respectively, and related other liabilities consisting of unfunded credit commitments of $137.8 million and $100.9 million , respectively. |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Cash and Cash Equivalents | The following table details our cash and cash equivalents at March 31, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Cash and due from banks (1) $ 2,241,287 $ 2,672,290 Securities purchased under agreements to resell (2) 375,180 247,876 Other short-term investment securities 2,917 2,909 Total cash and cash equivalents $ 2,619,384 $ 2,923,075 (1) At March 31, 2018 and December 31, 2017 , $378.2 million and $624.0 million , respectively, of our cash and due from banks was deposited at the Federal Reserve Bank and was earning interest at the Federal Funds target rate, and interest-earning deposits in other financial institutions were both $1.1 billion at March 31, 2018 and December 31, 2017 . (2) At March 31, 2018 and December 31, 2017 , securities purchased und er agreements to resell were collateralized by U.S. Treasury securities and U.S. agency securities with aggregate fair values of $382.7 million an d $252.8 million , respectively. None of these securities were sold or repledged as of March 31, 2018 and December 31, 2017 . |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 and December 31, 2017 are as follows: March 31, 2018 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 6,066,397 $ — $ (49,520 ) $ 6,016,877 U.S. agency debentures 1,569,943 321 (8,430 ) 1,561,834 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,198,479 97 (52,403 ) 2,146,173 Agency-issued collateralized mortgage obligations—variable rate 354,252 1,375 (127 ) 355,500 Total available-for-sale securities $ 10,189,071 $ 1,793 $ (110,480 ) $ 10,080,384 December 31, 2017 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Carrying Value Available-for-sale securities, at fair value: U.S. Treasury securities $ 6,865,068 $ 1,113 $ (25,679 ) $ 6,840,502 U.S. agency debentures 1,569,195 3,569 (5,636 ) 1,567,128 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,292,311 258 (25,534 ) 2,267,035 Agency-issued collateralized mortgage obligations—variable rate 372,481 1,375 (126 ) 373,730 Equity securities 31,953 40,525 (209 ) 72,269 Total available-for-sale securities $ 11,131,008 $ 46,840 $ (57,184 ) $ 11,120,664 |
Realized gains and losses on the sales of AFS securities [Table Text Block] | The following table summarizes sale activity of available-for-sale securities during the three months ended March 31, 2018 and 2017 as recorded in the line item “Gains on investment securities, net”, a component of noninterest income: Three months ended March 31, (Dollars in thousands) 2018 2017 Sales proceeds $ — $ 2,078 Net realized gains and losses: Gross realized gains — 675 Gross realized losses — (67 ) Net realized gains and losses $ — $ 608 |
Summary of Unrealized Losses on Available for Sale Securities | The following tables summarize our unrealized losses on our available-for-sale securities portfolio into categories of less than 12 months, or 12 months or longer as of March 31, 2018 and December 31, 2017 : March 31, 2018 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 $ 5,319,620 $ (45,520 ) $ 697,257 $ (4,000 ) $ 6,016,877 $ (49,520 ) U.S. agency debentures 1,079,618 (4,168 ) 335,109 (4,262 ) 1,414,727 (8,430 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,118,967 (52,403 ) — — 2,118,967 (52,403 ) Agency-issued collateralized mortgage obligations—variable rate 21,511 (7 ) 50,004 (120 ) 71,515 (127 ) Total temporarily impaired securities (1) $ 8,539,716 $ (102,098 ) $ 1,082,370 $ (8,382 ) $ 9,622,086 $ (110,480 ) (1) As of March 31, 2018 , we identified a total of 281 investments that were in unrealized loss positions, of which 52 investments totaling $1.1 billion with unrealized losses of $8.4 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2018 , we do not intend to sell any of our impaired 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, 2018 , 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, 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 $ 5,968,914 $ (23,397 ) $ 323,966 $ (2,282 ) $ 6,292,880 $ (25,679 ) U.S. agency debentures 736,541 (2,289 ) 336,196 (3,347 ) 1,072,737 (5,636 ) Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate 2,193,277 (25,534 ) — — 2,193,277 (25,534 ) Agency-issued collateralized mortgage obligations—variable rate 13,843 (3 ) 53,186 (123 ) 67,029 (126 ) Equity securities 624 (209 ) — — 624 (209 ) Total temporarily impaired securities (1) $ 8,913,199 $ (51,432 ) $ 713,348 $ (5,752 ) $ 9,626,547 $ (57,184 ) (1) As of December 31, 2017 , we identified a total of 268 investments that were in unrealized loss positions, of which 46 investments totaling $713.3 million with unrealized losses of $5.8 million have been in an impaired position for a period of time greater than 12 months. |
Summary of Remaining Contractual Principal Maturities and Fully Taxable Equivalent Yields on Securities | The following table summarizes the fixed income securities, carried at fair value, classified as available-for-sale as of March 31, 2018 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 interest rate environments. March 31, 2018 (Dollars in thousands) Total One Year After One After Five After U.S. Treasury securities $ 6,016,877 $ 2,213,143 $ 3,803,734 $ — $ — U.S. agency debentures 1,561,834 506,280 1,055,554 — — Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations — fixed rate 2,146,173 — — 66,459 2,079,714 Agency-issued collateralized mortgage obligations — variable rate 355,500 — — — 355,500 Total $ 10,080,384 $ 2,719,423 $ 4,859,288 $ 66,459 $ 2,435,214 The following table summarizes the remaining contractual principal maturities on fixed income investment securities classified as held-to-maturity as of March 31, 2018 . 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 interest rate environments. March 31, 2018 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 $ 714,008 $ 707,574 $ — $ — $ 122,092 $ 121,289 $ 591,916 $ 586,285 $ — $ — Residential mortgage-backed securities: Agency-issued mortgage-backed securities 8,043,443 7,889,876 718 715 198,545 194,426 273,432 266,194 7,570,748 7,428,541 Agency-issued collateralized mortgage obligations — fixed rate 2,665,485 2,583,897 — — — — 438,437 422,211 2,227,048 2,161,686 Agency-issued collateralized mortgage obligations — variable rate 243,749 244,438 — — — — — — 243,749 244,438 Agency-issued commercial mortgage-backed securities 1,833,961 1,781,840 — — — — — — 1,833,961 1,781,840 Municipal bonds and notes 1,048,210 1,021,814 8,185 8,157 73,912 72,861 237,606 229,079 728,507 711,717 Total $ 14,548,856 $ 14,229,439 $ 8,903 $ 8,872 $ 394,549 $ 388,576 $ 1,541,391 $ 1,503,769 $ 12,604,013 $ 12,328,222 |
Held-to-maturity Securities | The components of our held-to-maturity investment securities portfolio at March 31, 2018 and December 31, 2017 are as follows: March 31, 2018 (Dollars in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 714,008 $ 466 $ (6,900 ) $ 707,574 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 8,043,443 6,683 (160,250 ) 7,889,876 Agency-issued collateralized mortgage obligations—fixed rate 2,665,485 24 (81,612 ) 2,583,897 Agency-issued collateralized mortgage obligations—variable rate 243,749 718 (29 ) 244,438 Agency-issued commercial mortgage-backed securities 1,833,961 — (52,121 ) 1,781,840 Municipal bonds and notes 1,048,210 691 (27,087 ) 1,021,814 Total held-to-maturity securities $ 14,548,856 $ 8,582 $ (327,999 ) $ 14,229,439 (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, 2017 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Held-to-maturity securities, at cost: U.S. agency debentures (1) $ 659,979 $ 3,167 $ (1,601 ) $ 661,545 Residential mortgage-backed securities: Agency-issued mortgage-backed securities 6,304,969 4,854 (43,528 ) 6,266,295 Agency-issued collateralized mortgage obligations—fixed rate 2,829,979 23 (54,372 ) 2,775,630 Agency-issued collateralized mortgage obligations—variable rate 255,782 733 (34 ) 256,481 Agency-issued commercial mortgage-backed securities 1,868,985 694 (25,563 ) 1,844,116 Municipal bonds and notes 743,761 3,452 (3,000 ) 744,213 Total held-to-maturity securities $ 12,663,455 $ 12,923 $ (128,098 ) $ 12,548,280 (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, 2018 and December 31, 2017 : March 31, 2018 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 $ 624,806 $ (6,900 ) $ — $ — $ 624,806 $ (6,900 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 5,974,994 (144,458 ) 380,892 (15,792 ) 6,355,886 (160,250 ) Agency-issued collateralized mortgage obligations—fixed rate 938,137 (23,922 ) 1,645,496 (57,690 ) 2,583,633 (81,612 ) Agency-issued collateralized mortgage obligations—variable rate — — 9,317 (29 ) 9,317 (29 ) Agency-issued commercial mortgage-backed securities 1,042,701 (30,719 ) 739,139 (21,402 ) 1,781,840 (52,121 ) Municipal bonds and notes 803,271 (26,367 ) 20,264 (720 ) 823,535 (27,087 ) Total temporarily impaired securities (1) $ 9,383,909 $ (232,366 ) $ 2,795,108 $ (95,633 ) $ 12,179,017 $ (327,999 ) (1) As of March 31, 2018 , we identified a total of 1,115 investments that were in unrealized loss positions, of which 223 investments totaling $2.8 billion with unrealized losses of $95.6 million have been in an impaired position for a period of time greater than 12 months. As of March 31, 2018 , we do not intend to sell any of our impaired 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, 2018 , 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, 2017 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 $ 104,688 $ (1,601 ) $ — $ — $ 104,688 $ (1,601 ) Residential mortgage-backed securities: Agency-issued mortgage-backed securities 4,270,377 (34,092 ) 408,913 (9,436 ) 4,679,290 (43,528 ) Agency-issued collateralized mortgage obligations—fixed rate 1,011,709 (13,631 ) 1,741,614 (40,741 ) 2,753,323 (54,372 ) Agency-issued collateralized mortgage obligations—variable rate — — 9,812 (34 ) 9,812 (34 ) Agency-issued commercial mortgage-backed securities 979,361 (11,566 ) 773,712 (13,997 ) 1,753,073 (25,563 ) Municipal bonds and notes 344,796 (2,103 ) 32,844 (897 ) 377,640 (3,000 ) Total temporarily impaired securities (1) $ 6,710,931 $ (62,993 ) $ 2,966,895 $ (65,105 ) $ 9,677,826 $ (128,098 ) (1) As of December 31, 2017 , we identified a total of 753 investments that were in unrealized loss positions, of which 237 investments totaling $3.0 billion with unrealized losses of $65.1 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 equity securities portfolio at March 31, 2018 and December 31, 2017 are as follows: (Dollars in thousands) March 31, 2018 December 31, 2017 Non-marketable and other equity securities: Non-marketable securities (fair value accounting): Consolidated venture capital and private equity fund investments (1) $ 130,015 $ 128,111 Unconsolidated venture capital and private equity fund investments (2) 205,651 98,548 Other investments without a readily determinable fair value (3) 29,825 27,680 Other equity securities in public companies (fair value accounting) (4) 4,694 310 Non-marketable securities (equity method accounting) (5): Venture capital and private equity fund investments 97,929 89,809 Debt funds 18,884 21,183 Other investments 112,115 111,198 Investments in qualified affordable housing projects, net (6) 225,823 174,214 Total non-marketable and other equity securities $ 824,936 $ 651,053 (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, 2018 and December 31, 2017 (fair value accounting): March 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ownership % Amount Ownership % Strategic Investors Fund, LP $ 14,767 12.6 % $ 14,673 12.6 % Capital Preferred Return Fund, LP 56,541 20.0 54,147 20.0 Growth Partners, LP 57,706 33.0 58,372 33.0 CP I, LP 1,001 10.7 919 10.7 Total consolidated venture capital and private equity fund investments $ 130,015 $ 128,111 (2) The carrying value represents investments in 229 and 235 funds (primarily venture capital funds) at March 31, 2018 and December 31, 2017 , 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. Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which eliminated the concept of cost method accounting. On a prospective basis we will carry our unconsolidated venture capital and private equity fund investments at fair value based on the fund investments' net asset values 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. We recorded a cumulative adjustment to opening retained earnings on January 1, 2018 for the difference between fair value and cost for these fund investments. The estimated fair value and carrying value of these venture capital and private equity fund investments was $205.7 million as of March 31, 2018 . As of December 31, 2017, these investments were carried at cost and had a carrying value of $98.5 million . (3) Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which eliminated the concept of cost method accounting. On a prospective basis we will report our other investments in the line item "Other investments without a readily determinable fair value". These investments include direct equity investments in private companies. The carrying value is based on the price at which the investment was acquired plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments. We consider a range of factors when adjusting the fair value of these investments, including, but not limited to, the term and nature of the investment, local market conditions, values for comparable securities, current and projected operating performance, exit strategies, financing transactions subsequent to the acquisition of the investment and a discount for certain investments that have lock-up restrictions or other features that indicate a discount to fair value is warranted. The following table shows the changes to the carrying amount of other investments without a readily determinable fair value for the three months ended March 31, 2018: (Dollars in thousands) Other Investments Carrying value as of December 31, 2017 $ 27,680 Downward adjustments (2,069 ) Upward adjustments 4,214 Carrying value as of March 31, 2018 $ 29,825 (4) Investments classified as other equity securities (fair value accounting) represent shares held in public companies as a result of exercising public equity warrant assets and direct public equity investments in public companies held by our consolidated funds. Effective January 1, 2018 we adopted ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities which requires equity securities to be measured at fair value with changes in the fair value recognized through net income. Prior to January 1, 2018 we reported equity securities in public companies that we held as a result of exercising public equity warrant assets in available-for-sale securities. On a prospective basis, these equity securities will be reported in non-marketable and other equity securities. (5) The following table shows the carrying value and our ownership percentage of each investment at March 31, 2018 and December 31, 2017 (equity method accounting): March 31, 2018 December 31, 2017 (Dollars in thousands) Amount Ownership % Amount Ownership % Venture capital and private equity fund investments: Strategic Investors Fund II, LP $ 5,653 8.6 % $ 6,342 8.6 % Strategic Investors Fund III, LP 18,480 5.9 18,758 5.9 Strategic Investors Fund IV, LP 27,408 5.0 25,551 5.0 Strategic Investors Fund V funds 20,497 Various 16,856 Various CP II, LP (i) 6,797 5.1 6,700 5.1 Other venture capital and private equity fund investments 19,094 Various 15,602 Various Total venture capital and private equity fund investments $ 97,929 $ 89,809 Debt funds: Gold Hill Capital 2008, LP (ii) $ 15,978 15.5 % $ 18,690 15.5 % Other debt funds 2,906 Various 2,493 Various Total debt funds $ 18,884 $ 21,183 Other investments: SPD Silicon Valley Bank Co., Ltd. $ 76,384 50.0 % $ 75,337 50.0 % Other investments 35,731 Various 35,861 Various Total other investments $ 112,115 $ 111,198 (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) Our ownership includes 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 . (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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Investments in qualified affordable housing projects, net $ 225,823 $ 174,214 Other liabilities 137,783 100,891 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Tax credits and other tax benefits recognized $ 5,422 $ 4,692 Amortization expense included in provision for income taxes (i) 4,792 3,236 (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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Investments in qualified affordable housing projects, net $ 225,823 $ 174,214 Other liabilities 137,783 100,891 The following table presents other information relating to our investments in qualified affordable housing projects for the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Tax credits and other tax benefits recognized $ 5,422 $ 4,692 Amortization expense included in provision for income taxes (i) 4,792 3,236 (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 net gains and losses on non-marketable and other equity securities for the three months ended March 31, 2018 as recorded in the line item “Gains on investment securities, net”, a component of noninterest income: Three months ended March 31, (Dollars in thousands) 2018 2017 Net gains (losses) on non-marketable and other equity securities: Non-marketable securities (fair value accounting): Consolidated venture capital and private equity fund investments $ 11,647 $ 6,463 Unconsolidated venture capital and private equity fund investments (1) 11,719 3,047 Other investments without a readily determinable fair value (1) 1,741 3,373 Other equity securities in public companies (fair value accounting) (1) (22,282 ) (82 ) Non-marketable securities (equity method accounting): Venture capital and private equity fund investments 9,569 3,734 Debt funds (2,299 ) (431 ) Other investments (1,037 ) (742 ) Total net gains on non-marketable and other securities $ 9,058 $ 15,362 Less: Net (losses) gains on investment securities sold (22,490 ) 3,373 Unrealized net gains on investment securities still held $ 31,548 $ 11,989 (1) Prior period amounts are not determined in a manner consistent with the current period presentation due to the adoption of accounting standard update (ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825)). |
Loans, Allowance for Loan Los32
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | The composition of loans, net of unearned income of $158 million and $148 million at March 31, 2018 and December 31, 2017 , respectively, is presented in the following table: (Dollars in thousands) March 31, 2018 December 31, 2017 Commercial loans: Software/internet $ 6,209,084 $ 6,172,531 Hardware 1,336,000 1,193,599 Private equity/venture capital 11,211,816 9,952,377 Life science/healthcare 1,932,608 1,808,827 Premium wine 188,943 204,105 Other 219,467 365,724 Total commercial loans 21,097,918 19,697,163 Real estate secured loans: Premium wine (1) 676,081 669,053 Consumer loans (2) 2,362,340 2,300,506 Other 41,646 42,068 Total real estate secured loans 3,080,067 3,011,627 Construction loans 59,012 68,546 Consumer loans 350,947 328,980 Total loans, net of unearned income (3) $ 24,587,944 $ 23,106,316 (1) Included in our premium wine portfolio are gross construction loans of $101 million and $100 million at March 31, 2018 and December 31, 2017 , respectively. (2) Consumer loans secured by real estate at March 31, 2018 and December 31, 2017 were comprised of the following: (Dollars in thousands) March 31, 2018 December 31, 2017 Loans for personal residence $ 2,048,676 $ 1,995,840 Loans to eligible employees 249,050 243,118 Home equity lines of credit 64,614 61,548 Consumer loans secured by real estate $ 2,362,340 $ 2,300,506 (3) Included within our total loan portfolio are credit card loans of $307 million and $270 million at March 31, 2018 and December 31, 2017 , 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 $158 million and $148 million at March 31, 2018 and December 31, 2017 , respectively, broken out by portfolio segment and class of financing receivable, is as follows: (Dollars in thousands) March 31, 2018 December 31, 2017 Commercial loans: Software/internet $ 6,209,084 $ 6,172,531 Hardware 1,336,000 1,193,599 Private equity/venture capital 11,211,816 9,952,377 Life science/healthcare 1,932,608 1,808,827 Premium wine 865,024 873,158 Other 320,125 476,338 Total commercial loans 21,874,657 20,476,830 Consumer loans: Real estate secured loans 2,362,340 2,300,506 Other consumer loans 350,947 328,980 Total consumer loans 2,713,287 2,629,486 Total loans, net of unearned income $ 24,587,944 $ 23,106,316 |
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, 2018 and December 31, 2017 : (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, 2018: Commercial loans: Software/internet $ 30,557 $ 10,670 $ 3 $ 41,230 $ 6,113,585 $ 3 Hardware 5,502 45 — 5,547 1,306,873 — Private equity/venture capital 357,936 49,207 — 407,143 10,814,598 — Life science/healthcare 4,193 49 4 4,246 1,972,241 4 Premium wine 708 — — 708 862,530 — Other — — — — 328,847 — Total commercial loans 398,896 59,971 7 458,874 21,398,674 7 Consumer loans: Real estate secured loans 599 — — 599 2,354,108 — Other consumer loans 557 — — 557 349,301 — Total consumer loans 1,156 — — 1,156 2,703,409 — Total gross loans excluding impaired loans 400,052 59,971 7 460,030 24,102,083 7 Impaired loans 8,113 1,246 33,209 42,568 141,071 — Total gross loans $ 408,165 $ 61,217 $ 33,216 $ 502,598 $ 24,243,154 $ 7 December 31, 2017: Commercial loans: Software/internet $ 14,257 $ 6,526 $ 141 $ 20,924 $ 6,101,147 $ 141 Hardware 1,145 77 50 1,272 1,163,278 50 Private equity/venture capital 86,566 38,580 — 125,146 9,835,317 — Life science/healthcare 4,390 191 — 4,581 1,841,692 — Premium wine 418 — — 418 871,074 — Other 445 — — 445 490,292 — Total commercial loans 107,221 45,374 191 152,786 20,302,800 191 Consumer loans: Real estate secured loans 2,164 532 — 2,696 2,292,980 — Other consumer loans 796 — — 796 327,234 — Total consumer loans 2,960 532 — 3,492 2,620,214 — Total gross loans excluding impaired loans 110,181 45,906 191 156,278 22,923,014 191 Impaired loans 1,344 11,902 30,403 43,649 131,212 — Total gross loans $ 111,525 $ 57,808 $ 30,594 $ 199,927 $ 23,054,226 $ 191 |
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, 2018 and December 31, 2017 : (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, 2018: Commercial loans: Software/internet $ 56,600 $ 59,542 $ 116,142 $ 137,467 Hardware 14,833 21,988 36,821 37,450 Private equity/venture capital 108 — 108 108 Life science/healthcare 19,672 2,617 22,289 26,913 Premium wine 372 2,350 2,722 2,762 Other 14 — 14 94 Total commercial loans 91,599 86,497 178,096 204,794 Consumer loans: Real estate secured loans 4,164 326 4,490 6,043 Other consumer loans 298 755 1,053 1,074 Total consumer loans 4,462 1,081 5,543 7,117 Total $ 96,061 $ 87,578 $ 183,639 $ 211,911 December 31, 2017: Commercial loans: Software/internet $ 49,645 $ 61,009 $ 110,654 $ 129,006 Hardware 15,637 20,713 36,350 41,721 Private equity/venture capital 658 — 658 984 Life science/healthcare 20,521 1,166 21,687 26,360 Premium wine — 2,877 2,877 2,911 Other 32 — 32 165 Total commercial loans 86,493 85,765 172,258 201,147 Consumer loans: Real estate secured loans 1,331 850 2,181 3,712 Other consumer loans 422 — 422 436 Total consumer loans 1,753 850 2,603 4,148 Total $ 88,246 $ 86,615 $ 174,861 $ 205,295 |
Average Impaired Loans, Broken out by Portfolio Segment and Class of Financing Receivable | The following tables summarize our average impaired loans and interest income on impaired loans, broken out by portfolio segment and class of financing receivable for the three months ended March 31, 2018 and 2017 : Three months ended March 31, Average impaired loans Interest income on impaired loans (Dollars in thousands) 2018 2017 2018 2017 Commercial loans: Software/internet $ 108,788 $ 109,916 $ 532 $ 422 Hardware 38,426 34,110 363 572 Private equity/venture capital 302 358 — 2 Life science/healthcare 22,679 38,942 37 150 Premium wine 2,769 3,213 36 38 Other 11 1,061 — 4 Total commercial loans 172,975 187,600 968 1,188 Consumer loans: Real estate secured loans 3,063 1,488 — — Other consumer loans 739 2,148 5 8 Total consumer loans 3,802 3,636 5 8 Total average impaired loans $ 176,777 $ 191,236 $ 973 $ 1,196 |
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, 2018 and 2017 , broken out by portfolio segment: Three months ended March 31, 2018 Beginning Balance December 31, 2017 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2018 (Dollars in thousands) Commercial loans: Software/internet $ 96,104 $ (6,671 ) $ 573 $ 12,801 $ 488 $ 103,295 Hardware 27,614 (2,953 ) 588 3,104 119 28,472 Private equity/venture capital 82,468 — 10 8,805 335 91,618 Life science/healthcare 24,924 (864 ) 53 1,631 62 25,806 Premium wine 3,532 — — (161 ) (6 ) 3,365 Other 3,941 (99 ) 537 (906 ) 9 3,482 Total commercial loans 238,583 (10,587 ) 1,761 25,274 1,007 256,038 Total consumer loans 16,441 — 27 1,722 66 18,256 Total allowance for loan losses $ 255,024 $ (10,587 ) $ 1,788 $ 26,996 $ 1,073 $ 274,294 Three months ended March 31, 2017 Beginning Balance December 31, 2016 Charge-offs Recoveries Provision for (Reduction of) Loan Losses Foreign Currency Translation Adjustments Ending Balance March 31, 2017 (Dollars in thousands) 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 The following table summarizes the activity relating to our allowance for unfunded credit commitments for the three months ended March 31, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Beginning balance $ 51,770 $ 45,265 Provision for unfunded credit commitments 976 1,055 Foreign currency translation adjustments 77 15 Ending balance (1) $ 52,823 $ 46,335 (1) See Note 13—“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, 2018 and December 31, 2017 , broken out by portfolio segment: March 31, 2018 December 31, 2017 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 $ 27,379 $ 116,142 $ 75,916 $ 6,092,942 $ 23,088 $ 110,654 $ 73,016 $ 6,061,877 Hardware 7,087 36,821 21,385 1,299,179 8,450 36,350 19,164 1,157,249 Private equity/venture capital 108 108 91,510 11,211,708 330 658 82,138 9,951,719 Life science/healthcare 8,149 22,289 17,657 1,910,319 9,315 21,687 15,609 1,787,140 Premium wine — 2,722 3,365 862,302 — 2,877 3,532 870,281 Other 14 14 3,468 320,111 32 32 3,909 476,306 Total commercial loans 42,737 178,096 213,301 21,696,561 41,215 172,258 197,368 20,304,572 Total consumer loans 1,524 5,543 16,732 2,707,744 578 2,603 15,863 2,626,883 Total $ 44,261 $ 183,639 $ 230,033 $ 24,404,305 $ 41,793 $ 174,861 $ 213,231 $ 22,931,455 |
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, 2018 and December 31, 2017 : (Dollars in thousands) Pass Performing (Criticized) Performing Impaired (Criticized) Nonperforming Impaired (Nonaccrual) Total March 31, 2018: Commercial loans: Software/internet $ 5,622,167 $ 532,648 $ 39,691 $ 76,451 $ 6,270,957 Hardware 1,201,029 111,391 21,988 14,833 1,349,241 Private equity/venture capital 11,217,832 3,909 — 108 11,221,849 Life science/healthcare 1,787,185 189,302 2,617 19,672 1,998,776 Premium wine 825,892 37,346 2,350 372 865,960 Other 325,122 3,725 — 14 328,861 Total commercial loans 20,979,227 878,321 66,646 111,450 22,035,644 Consumer loans: Real estate secured loans 2,346,069 8,638 326 4,164 2,359,197 Other consumer loans 349,459 399 — 1,053 350,911 Total consumer loans 2,695,528 9,037 326 5,217 2,710,108 Total gross loans $ 23,674,755 $ 887,358 $ 66,972 $ 116,667 $ 24,745,752 December 31, 2017: Commercial loans: Software/internet $ 5,655,739 $ 466,332 $ 31,794 $ 78,860 $ 6,232,725 Hardware 1,112,574 51,976 20,165 16,185 1,200,900 Private equity/venture capital 9,955,082 5,381 — 658 9,961,121 Life science/healthcare 1,720,613 125,660 1,167 20,520 1,867,960 Premium wine 834,537 36,955 2,476 401 874,369 Other 469,721 21,016 — 32 490,769 Total commercial loans 19,748,266 707,320 55,602 116,656 20,627,844 Consumer loans: Real estate secured loans 2,282,375 13,301 — 2,181 2,297,857 Other consumer loans 326,851 1,179 — 422 328,452 Total consumer loans 2,609,226 14,480 — 2,603 2,626,309 Total gross loans $ 22,357,492 $ 721,800 $ 55,602 $ 119,259 $ 23,254,153 |
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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Loans modified in TDRs: Commercial loans: Software/internet $ 67,205 $ 73,455 Hardware 50,030 51,132 Private equity/venture capital — 350 Life science/healthcare 20,037 19,235 Premium wine 3,137 3,198 Total commercial loans 140,409 147,370 Consumer loans: Other consumer loans 577 423 Total $ 140,986 $ 147,793 |
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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Loans modified in TDRs during the period: Commercial loans: Software/internet $ 756 $ 6,309 Hardware 1,559 — Life science/healthcare 1,239 — Total commercial loans 3,554 6,309 Consumer loans: Other consumer loans 326 — Total loans modified in TDRs during the period (1) $ 3,880 $ 6,309 (1) There were no partial charge-offs during the three months ended March 31, 2018 and $6.2 million of partial charge-offs during the three months ended March 31, 2017 , respectively. |
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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 TDRs modified within the previous 12 months that defaulted during the period: Commercial loans: Software/internet $ 3,032 $ — Hardware — 3,105 Total commercial loans 3,032 3,105 Consumer loans: Other consumer loans — 536 Total TDRs modified within the previous 12 months that defaulted in the period $ 3,032 $ 3,641 |
Short-Term Borrowings and Lon33
Short-Term Borrowings and Long-Term Debt (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 and December 31, 2017 : Carrying Value (Dollars in thousands) Maturity Principal value at March 31, 2018 March 31, December 31, Short-term borrowings: Short-term FHLB advances April 2, 2018 $ 700,000 $ 700,000 $ 700,000 Federal funds purchased April 2, 2018 395,000 395,000 330,000 Other short-term borrowings (1) 7,140 7,140 3,730 Total short-term borrowings $ 1,102,140 $ 1,033,730 Long-term debt: 3.50% Senior Notes January 29, 2025 $ 350,000 $ 347,386 $ 347,303 5.375% Senior Notes September 15, 2020 350,000 348,345 348,189 Total long-term debt $ 695,731 $ 695,492 (1) Represents cash collateral received from certain counterparties in relation to market value exposures of derivative contracts in our favor. |
Derivative Financial Instrume34
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 and fair value of our derivative financial instruments at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 December 31, 2017 Notional or Contractual Amount Fair Value Notional or Contractual Amount Fair Value (Dollars in thousands) Derivative Assets (1) Derivative Liabilities (1) Derivative Assets (1) Derivative Liabilities (1) Derivatives not designated as hedging instruments: Currency exchange risks: Foreign exchange forwards $ 490,255 $ 6,713 $ — $ 50,889 $ 414 $ — Foreign exchange forwards 393,082 — 10,244 425,055 — 5,201 Other derivative instruments: Equity warrant assets 222,373 135,669 — 211,253 123,763 — Client foreign exchange forwards 2,159,827 99,905 — 2,203,643 95,035 — Client foreign exchange forwards 2,077,802 — 92,195 2,092,207 — 90,253 Client foreign currency options 146,954 1,886 — 102,678 1,187 — Client foreign currency options 146,954 — 1,886 102,678 — 1,187 Client interest rate derivatives (2) 287,489 5,070 — 726,984 11,753 — Client interest rate derivatives 770,653 — 13,369 782,586 — 11,940 Total Derivatives not designated as hedging instruments $ 249,243 $ 117,694 $ 232,152 $ 108,581 (1) Derivative assets and liabilities are included in " other interest receivables and other assets " and " other liabilities " , respectively, on our consolidated balance sheets. |
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, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) Statement of income location 2018 2017 Derivatives designated as hedging instruments: Interest rate risks: Net cash benefit associated with interest rate swaps Interest expense—borrowings $ — $ 554 Changes in fair value of interest rate swaps Other noninterest income — (1 ) Net gains associated with interest rate risk derivatives $ — $ 553 Derivatives not designated as hedging instruments: Currency exchange risks: Gains on revaluations of internal foreign currency instruments, net Other noninterest income $ 2,926 $ 4,108 Losses on internal foreign exchange forward contracts, net Other noninterest income (3,512 ) (3,245 ) Net (losses) gains associated with internal currency risk $ (586 ) $ 863 Other derivative instruments: Gains on revaluations of client foreign currency instruments, net Other noninterest income $ 7,653 $ 2,754 Losses on client foreign exchange forward contracts, net Other noninterest income (7,114 ) (2,289 ) Net gains associated with client currency risk $ 539 $ 465 Net gains on equity warrant assets Gains on equity warrant assets, net $ 19,191 $ 6,690 Net gains (losses) on other derivatives Other noninterest income $ 431 $ (276 ) |
Offsetting Assets | The following table summarizes our assets subject to enforceable master netting arrangements as of March 31, 2018 and December 31, 2017 : 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 (1) March 31, 2018 Derivative Assets: Foreign exchange forwards $ 106,618 $ — $ 106,618 $ (17,027 ) $ (5,264 ) $ 84,327 Foreign currency options 1,886 — 1,886 (574 ) — 1,312 Client interest rate derivatives 5,070 — 5,070 (3,194 ) (1,876 ) — Total derivative assets 113,574 — 113,574 (20,795 ) (7,140 ) 85,639 Reverse repurchase, securities borrowing, and similar arrangements 375,180 — 375,180 (375,180 ) — — Total $ 488,754 $ — $ 488,754 $ (395,975 ) $ (7,140 ) $ 85,639 December 31, 2017 Derivative Assets: Foreign exchange forwards $ 95,449 $ — $ 95,449 $ (14,570 ) $ (3,616 ) $ 77,263 Foreign currency options 1,187 — 1,187 (557 ) — 630 Client interest rate derivatives 11,753 — 11,753 (11,627 ) (114 ) 12 Total derivative assets 108,389 — 108,389 (26,754 ) (3,730 ) 77,905 Reverse repurchase, securities borrowing, and similar arrangements 247,876 — 247,876 (247,876 ) — — Total $ 356,265 $ — $ 356,265 $ (274,630 ) $ (3,730 ) $ 77,905 |
Offsetting Liabilities | The following table summarizes our liabilities subject to enforceable master netting arrangements as of March 31, 2018 and December 31, 2017 : 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 (1) March 31, 2018 Derivative Liabilities: Foreign exchange forwards $ 102,439 $ — $ 102,439 $ (6,624 ) $ (82,502 ) $ 13,313 Foreign currency options 1,886 — 1,886 (962 ) (434 ) 490 Client interest rate derivatives 13,369 — 13,369 — (13,278 ) 91 Total derivative liabilities 117,694 — 117,694 (7,586 ) (96,214 ) 13,894 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 117,694 $ — $ 117,694 $ (7,586 ) $ (96,214 ) $ 13,894 December 31, 2017 Derivative Liabilities: Foreign exchange forwards $ 95,454 $ — $ 95,454 $ (10,997 ) $ (69,110 ) $ 15,347 Foreign currency options 1,187 — 1,187 (501 ) (130 ) 556 Client interest rate derivatives 11,940 — 11,940 — (11,924 ) 16 Total derivative liabilities 108,581 — 108,581 (11,498 ) (81,164 ) 15,919 Repurchase, securities lending, and similar arrangements — — — — — — Total $ 108,581 $ — $ 108,581 $ (11,498 ) $ (81,164 ) $ 15,919 |
Noninterest Income (Tables)
Noninterest Income (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Summary of noninterest income | A summary of noninterest income for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Noninterest income: Gains on investment securities, net $ 9,058 $ 15,970 Gains on equity warrant assets, net 19,191 6,690 Foreign exchange fees 33,827 26,247 Credit card fees 21,692 17,730 Deposit service charges 17,699 13,975 Client investment fees 22,875 9,026 Lending related fees 10,735 8,961 Letters of credit and standby letters of credit fees 8,182 6,639 Other 12,259 12,421 Total noninterest income $ 155,518 $ 117,659 |
Components of Gains and Losses (Realized and Unrealized) on Investment Securities | A summary of gains and losses on investment securities for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Gains on non-marketable and other equity securities, net $ 9,058 $ 15,362 Gains on sales of available-for-sale securities, net — 608 Gains on investment securities, net $ 9,058 $ 15,970 |
Components of Gains on Equity Warrant Assets | A summary of net gains on equity warrant assets for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Equity warrant assets: Gains on exercises, net $ 9,927 $ 7,956 Cancellations and expirations (922 ) (634 ) Changes in fair value, net 10,186 (632 ) Net gains on equity warrant assets $ 19,191 $ 6,690 |
Components of Foreign Exchange Fees | A summary of foreign exchange fee income by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Foreign exchange fees by instrument type: Spot contract commissions $ 31,202 $ 22,424 Forward contract commissions 2,485 3,601 Option premium fees 140 222 Total foreign exchange fees $ 33,827 $ 26,247 |
Components of Credit Card Fees | A summary of credit card fees by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Credit card fees by instrument type: Card interchange fees, net $ 17,560 $ 13,971 Merchant service fees 2,906 2,740 Card service fees 1,226 1,019 Total credit card fees $ 21,692 $ 17,730 |
Components of Asset Management Fees | A summary of client investment fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Client investment fees by type: Sweep money market fees $ 12,322 $ 4,396 Asset management fees (1) 5,358 3,378 Repurchase agreement fees 5,195 1,252 Total client investment fees (2) $ 22,875 $ 9,026 |
Components of Lending Related Fees | A summary of lending related fees by instrument type for the three months ended March 31, 2018 and 2017, is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending related fees by instrument type: Unused commitment fees $ 8,757 $ 6,567 Other 1,978 2,394 Total lending related fees $ 10,735 $ 8,961 |
Summary of Other Noninterest Income | A summary of other noninterest income by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Other noninterest income by instrument type: Fund management fees $ 5,736 $ 5,169 Net (losses) gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1) (47 ) 1,328 Other service revenue 6,570 5,924 Total other noninterest income $ 12,259 $ 12,421 (1) Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments. |
Disaggregation of Revenue | The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. |
Noninterest Income DIsaggregati
Noninterest Income DIsaggregation of Revenue (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Disaggregation of Revenue | The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. The following table presents our revenues from contracts with customers disaggregated by revenue source and segment for the three months ended March 31, 2018: (Dollars in thousands) Global Commercial Bank SVB Private Bank SVB Capital Other Income Total Revenue from contracts with customers: Spot contract commissions $ 30,972 $ 179 $ — $ 51 $ 31,202 Card interchange fees, gross 29,449 — — 99 29,548 Merchant service fees 2,906 — — — 2,906 Deposit service charges 17,040 28 — 631 17,699 Client investment fees 10,250 302 — 12,323 22,875 Fund management fees — — 5,736 — 5,736 Correspondent bank rebates 1,396 — — — 1,396 Total revenue from contracts with customers $ 92,013 $ 509 $ 5,736 $ 13,104 $ 111,362 Revenues outside the scope of ASC 606 (1) 7,333 (2 ) 23,174 13,651 44,156 Total noninterest income $ 99,346 $ 507 $ 28,910 $ 26,755 $ 155,518 (1) Amounts are accounted for under separate guidance than ASC 606. |
Other Noninterest Income and 37
Other Noninterest Income and Other Noninterest Expense (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Summary of Other Noninterest Income | A summary of other noninterest income by instrument type for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Other noninterest income by instrument type: Fund management fees $ 5,736 $ 5,169 Net (losses) gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1) (47 ) 1,328 Other service revenue 6,570 5,924 Total other noninterest income $ 12,259 $ 12,421 (1) Represents the net revaluation of client and internal foreign currency denominated financial instruments. We enter into foreign exchange forward contracts to economically reduce our foreign exchange exposure related to client and internal foreign currency denominated financial instruments. |
Summary of Other Noninterest Expense | A summary of other noninterest expense for the three months ended March 31, 2018 and 2017 is as follows: Three months ended March 31, (Dollars in thousands) 2018 2017 Lending and other client related processing costs $ 3,201 $ 5,539 Data processing services 2,492 2,582 Telephone 2,377 2,703 Dues and publications 850 795 Postage and supplies 667 749 Other 5,107 3,839 Total other noninterest expense $ 14,694 $ 16,207 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | Our segment information for the three months ended March 31, 2018 and 2017 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, 2018 Net interest income $ 369,867 $ 16,247 $ 7 $ 33,742 $ 419,863 Provision for credit losses (25,274 ) (1,722 ) — (976 ) (27,972 ) Noninterest income 99,346 507 28,910 26,755 155,518 Noninterest expense (3) (184,751 ) (6,043 ) (5,046 ) (69,577 ) (265,417 ) Income (loss) before income tax expense (4) $ 259,188 $ 8,989 $ 23,871 $ (10,056 ) $ 281,992 Total average loans, net of unearned income $ 20,679,202 $ 2,666,658 $ — $ 461,352 $ 23,807,212 Total average assets (5) 49,953,950 2,590,476 373,322 (550,506 ) 52,367,242 Total average deposits 44,041,634 1,572,424 — 492,023 46,106,081 Three months ended March 31, 2017 Net interest income $ 275,878 $ 13,610 $ 10 $ 20,495 $ 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) (172,916 ) (3,919 ) (3,472 ) (57,326 ) (237,633 ) Income (loss) before income tax expense (4) $ 153,592 $ 9,619 $ 13,313 $ (17,239 ) $ 159,285 Total average loans, net of unearned income $ 17,647,055 $ 2,245,317 $ — $ 176,942 $ 20,069,314 Total average assets (5) 42,888,126 2,272,825 372,876 (232,793 ) 45,301,034 Total average deposits 38,296,563 1,336,849 — 325,123 39,958,535 (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 or losses on the sale of fixed income investments and equity securities from exercised warrant assets. Noninterest expense consists primarily of expenses associated with corporate support functions such as finance, human resources, marketing, legal and other expenses. (3) The Global Commercial Bank segment includes direct depreciation and amortization of $5.5 million and $6.1 million for the three months ended March 31, 2018 and 2017 , 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 Arrangement39
Off-Balance Sheet Arrangements, Guarantees and Other Commitments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 and December 31, 2017 : (Dollars in thousands) March 31, 2018 December 31, 2017 Loan commitments available for funding: (1) Fixed interest rate commitments $ 1,513,974 $ 1,478,157 Variable interest rate commitments 13,665,905 14,034,169 Total loan commitments available for funding 15,179,879 15,512,326 Commercial and standby letters of credit (2) 1,990,923 1,950,211 Total unfunded credit commitments $ 17,170,802 $ 17,462,537 Commitments unavailable for funding (3) $ 2,602,796 $ 2,117,057 Allowance for unfunded credit commitments (4) 52,823 51,770 (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) 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, 2018 . 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 $ 1,828,990 $ 42,039 $ 1,871,029 $ 1,871,029 Performance standby letters of credit 107,170 2,935 110,105 110,105 Commercial letters of credit 9,364 425 9,789 9,789 Total $ 1,945,524 $ 45,399 $ 1,990,923 $ 1,990,923 |
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, 2018 : (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) 924 — 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 515 131 Various Capital Preferred Return Fund, LP 12,688 — 20.0 Growth Partners, LP 23,330 1,340 33.0 Debt funds (equity method accounting) 58,493 — Various Other fund investments (2) 301,673 8,772 Various Total $ 462,362 $ 16,013 (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 229 funds (primarily venture capital funds) where our ownership interest is generally less than five 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 Part 1, Item 1 of our 2017 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, 2018 : (Dollars in thousands) Unfunded Commitments Strategic Investors Fund, LP $ 1,338 Capital Preferred Return Fund, LP 1,911 Growth Partners, LP 2,680 Total $ 5,929 |
Fair Value of Financial Instr40
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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, 2018 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at March 31, 2018 Assets: Available-for-sale securities: U.S. Treasury securities $ 6,016,877 $ — $ — $ 6,016,877 U.S. agency debentures — 1,561,834 — 1,561,834 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations — fixed rate — 2,146,173 — 2,146,173 Agency-issued collateralized mortgage obligations —v ariable rate — 355,500 — 355,500 Total available-for-sale securities 6,016,877 4,063,507 — 10,080,384 Non-marketable and other equity securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 334,665 Venture capital and private equity fund investments not measured at net asset value (1) — — 1,001 1,001 Other equity securities in public companies 31 4,663 — 4,694 Total non-marketable and other securities (fair value accounting) 31 4,663 1,001 340,360 Other assets: Foreign exchange forward and option contracts — 108,504 — 108,504 Equity warrant assets — 4,163 131,506 135,669 Client interest rate derivatives — 5,070 — 5,070 Total assets $ 6,016,908 $ 4,185,907 $ 132,507 $ 10,669,987 Liabilities: Foreign exchange forward and option contracts $ — $ 104,325 $ — $ 104,325 Client interest rate derivatives — 13,369 — 13,369 Total liabilities $ — $ 117,694 $ — $ 117,694 (1) Included in Level 3 assets is $0.9 million 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, 2017 : (Dollars in thousands) Level 1 Level 2 Level 3 Balance at December 31, 2017 Assets: Available-for-sale securities: U.S. Treasury securities $ 6,840,502 $ — $ — $ 6,840,502 U.S. agency debentures — 1,567,128 — 1,567,128 Residential mortgage-backed securities: Agency-issued collateralized mortgage obligations—fixed rate — 2,267,035 — 2,267,035 Agency-issued collateralized mortgage obligations—variable rate — 373,730 — 373,730 Equity securities 158 72,111 — 72,269 Total available-for-sale securities 6,840,660 4,280,004 — 11,120,664 Non-marketable and other securities (fair value accounting): Non-marketable securities: Venture capital and private equity fund investments measured at net asset value — — — 127,192 Venture capital and private equity fund investments not measured at net asset value (1) — — 919 919 Other equity securities in public companies (1) 310 — — 310 Total non-marketable and other securities (fair value accounting) 310 — 919 128,421 Other assets: Foreign exchange forward and option contracts — 96,636 — 96,636 Equity warrant assets — 2,432 121,331 123,763 Client interest rate derivatives — 11,753 — 11,753 Total assets $ 6,840,970 $ 4,390,825 $ 122,250 $ 11,481,237 Liabilities: Foreign exchange forward and option contracts $ — $ 96,641 $ — $ 96,641 Client interest rate derivatives — 11,940 — 11,940 Total liabilities $ — $ 108,581 $ — $ 108,581 (1) Included in Level 1 and Level 3 assets are $0.2 million and $0.8 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, 2018 and 2017 : (Dollars in thousands) Beginning Balance Total Realized and Unrealized Gains Included in Income Sales Issuances Distributions and Other Settlements Transfers Out of Level 3 Ending Balance Three months ended March 31, 2018 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value(1) $ 919 $ 82 $ — $ — $ — $ — $ 1,001 Other assets: Equity warrant assets (2) 121,331 18,611 (12,128 ) 4,899 — (1,207 ) 131,506 Total assets $ 122,250 $ 18,693 $ (12,128 ) $ 4,899 $ — $ (1,207 ) $ 132,507 Three months ended March 31, 2017 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value(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 (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, 2018 and 2017 : Three months ended March 31, (Dollars in thousands) 2018 2017 Non-marketable and other securities (fair value accounting): Venture capital and private equity fund investments not measured at net asset value (1) $ 82 $ — Other assets: Equity warrant assets (2) 9,573 (347 ) Total unrealized gains (losses), net $ 9,655 $ (347 ) Unrealized gains attributable to noncontrolling interests (1) $ 73 $ — (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, 2018 and December 31, 2017. 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, 2018: Venture capital and private equity fund investments (fair value accounting) $ 1,001 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,641 Black-Scholes option pricing model Volatility 46.3 % Risk-Free interest rate 2.7 Sales restrictions discount (2) 13.7 Equity warrant assets (private portfolio) 129,865 Black-Scholes option pricing model Volatility 37.0 Risk-Free interest rate 2.2 Marketability discount (3) 16.4 Remaining life assumption (4) 45.0 December 31, 2017: Venture capital and private equity fund investments (fair value accounting) $ 919 Private company equity pricing (1) (1 ) Equity warrant assets (public portfolio) 1,936 Black-Scholes option pricing model Volatility 47.9 % Risk-Free interest rate 2.1 Sales restrictions discount (2) 15.5 Equity warrant assets (private portfolio) 119,395 Black-Scholes option pricing model Volatility 36.7 Risk-Free interest rate 1.8 Marketability discount (3) 16.4 Remaining life assumption (4) 45.0 (1) In determining the fair value of our venture capital and private equity fund investment portfolio (not measured at net asset value), 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, 2018 , the weighted average contractual remaining term was 6.0 years, compared to our estimated remaining life of 2.7 years. On a quarterly basis, a sensitivity analysis is performed on our remaining life assumption. |
Summary of Estimated Fair Values of Financial Instruments Not Carried at Fair Value | The following fair value hierarchy table presents the estimated fair values of our financial instruments that are not carried at fair value at March 31, 2018 and December 31, 2017 : Estimated Fair Value (Dollars in thousands) Carrying Amount Total Level 1 Level 2 Level 3 March 31, 2018: Financial assets: Cash and cash equivalents $ 2,619,384 $ 2,619,384 $ 2,619,384 $ — $ — Held-to-maturity securities 14,548,856 14,229,439 — 14,229,439 — Non-marketable securities not measured at net asset value 123,811 123,811 — — 123,811 Non-marketable securities measured at net asset value 134,942 134,942 — — — Net commercial loans 21,618,619 21,810,467 — — 21,810,467 Net consumer loans 2,695,031 2,695,873 — — 2,695,873 FHLB and Federal Reserve Bank stock 60,514 60,514 — — 60,514 Financial liabilities: Other short-term borrowings 1,102,140 1,102,140 1,102,140 — — Non-maturity deposits (1) 45,895,018 45,895,018 45,895,018 — — Time deposits 41,514 41,239 — 41,239 — 3.50% Senior Notes 347,386 343,676 — 343,676 — 5.375% Senior Notes 348,345 369,005 — 369,005 — Off-balance sheet financial assets: Commitments to extend credit — 21,507 — — 21,507 December 31, 2017: Financial assets: Cash and cash equivalents $ 2,923,075 $ 2,923,075 $ 2,923,075 $ — $ — Held-to-maturity securities 12,663,455 12,548,280 — 12,548,280 — Non-marketable securities (cost and equity method accounting) not measured at net asset value 120,019 126,345 — — 126,345 Non-marketable securities (cost and equity method accounting) measured at net asset value 228,399 331,496 — — — Net commercial loans 20,238,247 20,520,623 — — 20,520,623 Net consumer loans 2,613,045 2,593,538 — — 2,593,538 FHLB and Federal Reserve Bank stock 60,020 60,020 — — 60,020 Financial liabilities: Short-term FHLB advances 700,000 700,000 700,000 — — Federal funds purchased 330,000 330,000 330,000 — — Other short-term borrowings 3,730 3,730 3,730 — — Non-maturity deposits (1) 44,206,929 44,206,929 44,206,929 — — Time deposits 47,146 46,885 — 46,885 — 3.50% Senior Notes 347,303 352,058 — 352,058 — 5.375% Senior Notes 348,189 374,483 — 374,483 — Off-balance sheet financial assets: Commitments to extend credit — 22,208 — — 22,208 (1) Includes noninterest-bearing demand deposits, interest-bearing checking accounts, money market accounts and interest-bearing sweep deposits. |
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, 2018 : (Dollars in thousands) Carrying Amount Fair Value Unfunded Commitments Non-marketable securities (fair value accounting): Venture capital and private equity fund investments (1) $ 334,665 $ 334,665 $ 13,817 Non-marketable securities (equity method accounting): Venture capital and private equity fund investments (2) 97,929 97,929 4,943 Debt funds (2) 18,884 18,884 — Other investments (2) 18,129 18,129 886 Total $ 469,607 $ 469,607 $ 19,646 (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 (consolidated VIEs) and investments in venture capital and private equity fund investments (unconsolidated VIEs). Collectively, these investments in venture capital and private equity funds are 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 $95.8 million and $4.5 million , respectively, attributable to noncontrolling interests. It is estimated that we will receive distributions from the fund investments over the next 10 to 13 years, depending on the age of the funds and any potential extensions of terms of the funds. (2) Venture capital and private equity fund investments, debt funds, and other fund investments within non-marketable securities (equity method accounting) include funds that invest in or lend money to primarily U.S. and global technology and life science/healthcare companies. It is estimated that we will receive distributions from the funds over the next 5 to 8 years, depending on the age of the funds and any potential extensions of the terms of the funds. |
Stockholders' Equity and EPS -
Stockholders' Equity and EPS - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |||
Reclassification adjustment for gains included in net income | [1] | $ 9,058 | $ 8,942 |
Related tax expense | (73,966) | (51,405) | |
Net income available to common stockholders | 194,961 | 101,483 | |
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 included in net income | 0 | (608) | |
Related tax expense | 0 | 248 | |
Net income available to common stockholders | $ 0 | $ (360) | |
[1] | During the first quarter of 2018 we adopted ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. This guidance was adopted on a retrospective basis and impacted the presentation between investing and operating activities related to distributions and net gains from our nonmarketable and other securities portfolio. 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 Recent Ac
Basis of Presentation Recent Accounting Pronouncements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Fund Management Fees | $ 5,736 | $ 5,169 | ||
Income tax expense | 73,966 | 51,405 | ||
Accounts Receivable, Gross, Current | 47,978 | $ 21,606 | $ 55,946 | |
Deferred fees | 734 | 736 | 27,057 | |
Taxes Payable, Current | 67,001 | 2,458 | 4,675 | |
Noninterest income | 155,518 | 117,659 | ||
Operating Leases, Future Minimum Payments Due | 226,000 | |||
Retained earnings | 3,160,081 | $ 2,861,035 | $ 2,866,837 | |
Net income available to common stockholders | $ 194,961 | $ 101,483 | ||
Diluted (dollars per share) | $ 3.63 | $ 1.91 | ||
Accounting Standards Update 2018-02 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Cumulative Effect on Retained Earnings, Net of Tax (Less than) | $ 300 | |||
Accounting Standards Update 2014-09 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Fund Management Fees | (870) | |||
Income tax expense | (239) | |||
Accounts Receivable, Gross, Current | (37,099) | |||
Deferred fees | (27,951) | |||
Taxes Payable, Current | 1,978 | |||
Retained earnings | (6,433) | |||
Net income available to common stockholders | $ (631) | |||
Diluted (dollars per share) | $ (0.01) | |||
Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Cumulative Effect on Retained Earnings, Net of Tax (Less than) | $ (5,802) | |||
Adjustments for New Accounting Principle, Early Adoption [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Fund Management Fees | 6,606 | |||
Income tax expense | 74,205 | |||
Accounts Receivable, Gross, Current | 85,077 | |||
Deferred fees | 28,685 | |||
Taxes Payable, Current | 65,023 | |||
Retained earnings | 3,166,514 | |||
Net income available to common stockholders | $ 195,592 | |||
Diluted (dollars per share) | $ 3.64 | |||
Non-marketable securities | Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Cumulative Effect on Retained Earnings, Net of Tax (Less than) | $ 74,600 | |||
Equity securities | Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Cumulative Effect on Retained Earnings, Net of Tax (Less than) | 29,200 | |||
Other Assets [Member] | Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (34,340) | |||
Deferred Revenue [Domain] | Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (26,321) | |||
Other liability | Accounting Standards Update 2016-01 | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (2,217) |
Stockholders' Equity and EPS 43
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, 2018 | Mar. 31, 2017 | |
Numerator: | ||
Net income available to common stockholders | $ 194,961 | $ 101,483 |
Denominator: | ||
Weighted average common shares outstanding-basic (in shares) | 52,883 | 52,344 |
Denominator for diluted calculation (in shares) | 53,685 | 53,179 |
Earnings per common share: | ||
Basic (dollars per share) | $ 3.69 | $ 1.94 |
Diluted (dollars per share) | $ 3.63 | $ 1.91 |
Stock options and ESPP | ||
Denominator: | ||
Weighted average effect of dilutive securities (in shares) | 420 | 440 |
Restricted stock units | ||
Denominator: | ||
Weighted average effect of dilutive securities (in shares) | 382 | 395 |
Stockholders' Equity and EPS 44
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, 2018 | Mar. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 4 | 21 |
Stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 4 | 0 |
Restricted stock units | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Shares excluded from diluted earnings per share calculation | 0 | 21 |
Share-Based Compensation - Shar
Share-Based Compensation - Share Based Compensation and Related Tax Benefits (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Share-based compensation expense | $ 10,523 | $ 9,203 |
Income tax benefit related to share-based compensation expense | $ (2,317) | $ (3,015) |
Share-Based Compensation - Unre
Share-Based Compensation - Unrecognized Compensation Expense (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 54,326 |
Stock options | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 8,290 |
Average Expected Recognition Period - in Years | 2 years 5 months 23 days |
Restricted stock units | |
Unrecognized Share Based Compensation Expense [Line Items] | |
Unrecognized Expense | $ 46,036 |
Average Expected Recognition Period - in Years | 2 years 5 months 23 days |
Share-Based Compensation - Sh47
Share-Based Compensation - Share-Based Payment Award Activity (Detail) | 3 Months Ended |
Mar. 31, 2018USD ($)$ / sharesshares | |
Options | |
Outstanding, beginning of period, in shares | shares | 808,049 |
Exercised, in shares | shares | (51,271) |
Granted, in shares | shares | 471 |
Forfeited, in shares | shares | (1,926) |
Outstanding, end of period, in shares | shares | 755,323 |
Vested and expected to vest, end of period, in shares | shares | 738,585 |
Exercisable, end of period, in shares | shares | 416,281 |
Weighted Average Exercise Price | |
Outstanding, beginning of period, in usd per share | $ / shares | $ 105.68 |
Granted, in usd per share | $ / shares | 260.72 |
Exercised, in usd per share | $ / shares | 68.05 |
Forfeited, in usd per share | $ / shares | 130.69 |
Outstanding, end of period, in usd per share | $ / shares | 108.26 |
Vested and expected to vest, end of period, in usd per share | $ / shares | 107.43 |
Exercisable, end of period, in usd per share | $ / shares | $ 87.28 |
Weighted Average Remaining Contractual Life - in Years | |
Outstanding, end of period | 3 years 7 months 11 days |
Vested and expected to vest, end of period | 3 years 6 months 25 days |
Exercisable, end of period | 2 years 5 months 30 days |
Aggregate Intrinsic Value of In-The-Money Options | |
Outstanding, end of period | $ | $ 99,521,692 |
Vested and expected to vest, end of period | $ | 97,934,520 |
Exercisable, end of period | $ | $ 63,585,697 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Closing stock price | $ 240.01 | |
Total intrinsic value of options exercised | $ 9.4 | $ 16.5 |
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, 2018$ / sharesshares | |
Shares | |
Nonvested, beginning of period, in shares | shares | 637,667 |
Granted, in shares | shares | 10,699 |
Vested, in shares | shares | (42,171) |
Forfeited, in shares | shares | (13,332) |
Nonvested, end of period, in shares | shares | 592,863 |
Weighted Average Grant Date Fair Value | |
Nonvested, beginning of period, in usd per share | $ / shares | $ 135.86 |
Granted, in usd per share | $ / shares | 237.94 |
Vested, in usd per share | $ / shares | 126.23 |
Forfeited, in usd per share | $ / shares | 132.87 |
Nonvested, end of period, in usd per share | $ / shares | $ 138.46 |
Variable Interest Entities - Ca
Variable Interest Entities - Carrying Amounts and Classification of Significant Variable Interests (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | $ 2,619,384 | $ 2,923,075 | $ 3,795,679 | $ 2,545,750 |
Non-marketable and other equity securities | 824,936 | 651,053 | ||
Amortization Method Qualified Affordable Housing Project Investments | 225,823 | 174,214 | ||
Accrued interest receivable and other assets | 986,523 | 876,246 | ||
Total assets | 53,500,787 | 51,214,467 | ||
Total liabilities | 48,941,063 | 46,895,052 | ||
Maximum exposure to loss in unconsolidated VIEs | 501,810 | 346,097 | ||
Qualified Affordable Housing Project Investments, Commitment | 137,783 | 100,891 | ||
Consolidated | ||||
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | 5,040 | 6,674 | ||
Non-marketable and other equity securities | 200,246 | 190,562 | ||
Accrued interest receivable and other assets | 466 | 365 | ||
Total assets | 205,752 | 197,601 | ||
Total liabilities | 717 | 990 | ||
Maximum exposure to loss in unconsolidated VIEs | 205,000 | |||
Accrued Liabilities and Other Liabilities | 717 | 990 | ||
Unconsolidated | ||||
Variable Interest Entity [Line Items] | ||||
Cash and cash equivalents | 0 | 0 | ||
Non-marketable and other equity securities | 501,810 | 346,097 | ||
Accrued interest receivable and other assets | 0 | 0 | ||
Total assets | 501,810 | 346,097 | ||
Total liabilities | $ 137,783 | 100,891 | ||
Accrued Liabilities and Other Liabilities | $ 100,891 |
Variable Interest Entities - Ad
Variable Interest Entities - Additional Information (Details) $ in Thousands | Mar. 31, 2018USD ($)entity | Dec. 31, 2017USD ($) |
Variable Interest Entity [Line Items] | ||
Number of consolidated entities | entity | 4 | |
Maximum exposure to loss in unconsolidated VIEs | $ 501,810 | $ 346,097 |
Consolidated | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss in unconsolidated VIEs | $ 205,000 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Cash and Cash Equivalents [Abstract] | ||||
Cash and due from banks | $ 2,241,287 | $ 2,672,290 | ||
Securities purchased under agreements to resell | 375,180 | 247,876 | ||
Other short-term investment securities | 2,917 | 2,909 | ||
Total cash and cash equivalents | $ 2,619,384 | $ 2,923,075 | $ 3,795,679 | $ 2,545,750 |
Cash and Cash Equivalents (Addi
Cash and Cash Equivalents (Additional Information) (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Dec. 31, 2017 |
Cash and Cash Equivalents [Abstract] | ||
Deposits at the Federal Reserve Bank earning interest at the Federal Funds target rate | $ 400 | $ 600 |
Interest-earning deposits in other financial institutions | 1,100 | |
Fair value of securities purchased under agreements to resell | $ 383 | $ 253 |
Investment Securities - Major C
Investment Securities - Major Components of Investment Securities Portfolio (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Investment Holdings [Line Items] | |||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ 0 | $ 2,078 | |
Amortized Cost | 10,189,071 | $ 11,131,008 | |
Unrealized Gains | 1,793 | 46,840 | |
Unrealized Losses | (110,480) | (57,184) | |
Carrying Value | 10,080,384 | 11,120,664 | |
Net gains (losses) on non-marketable and other equity securities: | 0 | 675 | |
Available-for-sale Securities, Gross Realized Losses | 0 | (67) | |
Gain (Loss) on Sale of Securities, Net | 0 | $ 608 | |
U.S. treasury securities | |||
Investment Holdings [Line Items] | |||
Amortized Cost | 6,066,397 | 6,865,068 | |
Unrealized Gains | 0 | 1,113 | |
Unrealized Losses | (49,520) | (25,679) | |
Carrying Value | 6,016,877 | 6,840,502 | |
U.S. agency debentures | |||
Investment Holdings [Line Items] | |||
Amortized Cost | 1,569,943 | 1,569,195 | |
Unrealized Gains | 321 | 3,569 | |
Unrealized Losses | (8,430) | (5,636) | |
Carrying Value | 1,561,834 | 1,567,128 | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | |||
Investment Holdings [Line Items] | |||
Carrying Value | 2,146,173 | 2,267,035 | |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | |||
Investment Holdings [Line Items] | |||
Carrying Value | 355,500 | 373,730 | |
Equity securities | |||
Investment Holdings [Line Items] | |||
Amortized Cost | 31,953 | ||
Unrealized Gains | 40,525 | ||
Unrealized Losses | (209) | ||
Carrying Value | 72,269 | ||
Variable rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | |||
Investment Holdings [Line Items] | |||
Amortized Cost | 354,252 | 372,481 | |
Unrealized Gains | 1,375 | 1,375 | |
Unrealized Losses | (127) | (126) | |
Fixed rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | |||
Investment Holdings [Line Items] | |||
Amortized Cost | 2,198,479 | 2,292,311 | |
Unrealized Gains | 97 | 258 | |
Unrealized Losses | $ (52,403) | $ (25,534) |
Investment Securities - Summary
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, 2018USD ($) | |
Available-for-sale Securities | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | $ 10,080,384 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 2,719,423 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 4,859,288 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 66,459 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 2,435,214 |
Available-for-sale Securities | U.S. treasury securities | |
Investments Classified by Contractual Maturity Date [Line Items] | |
Available-for-sale Securities, Debt Securities | 6,016,877 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 2,213,143 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 3,803,734 |
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 | 1,561,834 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 506,280 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 1,055,554 |
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 | 2,146,173 |
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 | 66,459 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 2,079,714 |
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 | 355,500 |
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 | $ 355,500 |
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 - Summa56
Investment Securities - Summary of Unrealized Losses on Available for Sale Securities (Detail) $ in Thousands | Mar. 31, 2018USD ($)Investment | Dec. 31, 2017USD ($)Investment |
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | $ 8,539,716 | $ 8,913,199 |
Less than 12 months - Unrealized Losses | (102,098) | (51,432) |
12 months or longer - Fair Value of Investments | 1,082,370 | 713,348 |
12 months or longer - Unrealized Losses | (8,382) | (5,752) |
Fair Value of Investments | 9,622,086 | 9,626,547 |
Unrealized Losses | $ (110,480) | $ (57,184) |
Number of investments in unrealized loss position | Investment | 281 | 268 |
Number of investments with unrealized losses greater than 12 months | Investment | 52 | 46 |
U.S. treasury securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | $ 5,319,620 | $ 5,968,914 |
Less than 12 months - Unrealized Losses | (45,520) | (23,397) |
12 months or longer - Fair Value of Investments | 697,257 | 323,966 |
12 months or longer - Unrealized Losses | (4,000) | (2,282) |
Fair Value of Investments | 6,016,877 | 6,292,880 |
Unrealized Losses | (49,520) | (25,679) |
U.S. agency debentures | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 1,079,618 | 736,541 |
Less than 12 months - Unrealized Losses | (4,168) | (2,289) |
12 months or longer - Fair Value of Investments | 335,109 | 336,196 |
12 months or longer - Unrealized Losses | (4,262) | (3,347) |
Fair Value of Investments | 1,414,727 | 1,072,737 |
Unrealized Losses | (8,430) | (5,636) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Investments, Unrealized Loss Position [Line Items] | ||
Fair Value of Investments | 2,118,967 | 2,193,277 |
Unrealized Losses | (52,403) | (25,534) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Investments, Unrealized Loss Position [Line Items] | ||
Fair Value of Investments | 71,515 | 67,029 |
Unrealized Losses | (127) | (126) |
Equity securities | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 624 | |
Less than 12 months - Unrealized Losses | (209) | |
12 months or longer - Fair Value of Investments | 0 | |
12 months or longer - Unrealized Losses | 0 | |
Fair Value of Investments | 624 | |
Unrealized Losses | (209) | |
Fixed rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 2,118,967 | 2,193,277 |
Less than 12 months - Unrealized Losses | (52,403) | (25,534) |
12 months or longer - Fair Value of Investments | 0 | 0 |
12 months or longer - Unrealized Losses | 0 | 0 |
Variable rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Investments, Unrealized Loss Position [Line Items] | ||
Less than 12 months - Fair Value of Investments | 21,511 | 13,843 |
Less than 12 months - Unrealized Losses | (7) | (3) |
12 months or longer - Fair Value of Investments | 50,004 | 53,186 |
12 months or longer - Unrealized Losses | $ (120) | $ (123) |
Investment Securities - Summa57
Investment Securities - Summary of Unrealized Losses on Held to Maturity Securities (Details) $ in Thousands | Mar. 31, 2018USD ($)Investment | Dec. 31, 2017USD ($)Investment |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 14,548,856 | $ 12,663,455 |
Unrealized Gains | 8,582 | 12,923 |
Unrealized Losses | (327,999) | (128,098) |
Fair Value | 14,229,439 | 12,548,280 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 9,383,909 | 6,710,931 |
Unrealized Losses, Less than 12 months | (232,366) | (62,993) |
Fair Value of Investments, 12 months or longer | 2,795,108 | 2,966,895 |
Unrealized Losses, 12 months or longer | (95,633) | (65,105) |
Fair Value of Investments | 12,179,017 | 9,677,826 |
Unrealized Losses | $ (327,999) | $ (128,098) |
Number of held-to-maturity investments with unrealized loss | Investment | 1,115 | 753 |
Number of held-to-maturity investments in continuous loss more than 12 months | Investment | 223 | 237 |
U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 714,008 | $ 659,979 |
Unrealized Gains | 466 | 3,167 |
Unrealized Losses | (6,900) | (1,601) |
Fair Value | 707,574 | 661,545 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 624,806 | 104,688 |
Unrealized Losses, Less than 12 months | (6,900) | (1,601) |
Fair Value of Investments, 12 months or longer | 0 | 0 |
Unrealized Losses, 12 months or longer | 0 | 0 |
Fair Value of Investments | 624,806 | 104,688 |
Unrealized Losses | (6,900) | (1,601) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 8,043,443 | 6,304,969 |
Unrealized Gains | 6,683 | 4,854 |
Unrealized Losses | (160,250) | (43,528) |
Fair Value | 7,889,876 | 6,266,295 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 5,974,994 | 4,270,377 |
Unrealized Losses, Less than 12 months | (144,458) | (34,092) |
Fair Value of Investments, 12 months or longer | 380,892 | 408,913 |
Unrealized Losses, 12 months or longer | (15,792) | (9,436) |
Fair Value of Investments | 6,355,886 | 4,679,290 |
Unrealized Losses | (160,250) | (43,528) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Fixed rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value | 2,583,897 | 2,775,630 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments | 2,583,633 | 2,753,323 |
Unrealized Losses | (81,612) | (54,372) |
Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | Variable rate | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Fair Value | 244,438 | 256,481 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, 12 months or longer | 9,812 | |
Unrealized Losses, 12 months or longer | (34) | |
Fair Value of Investments | 9,317 | 9,812 |
Unrealized Losses | (29) | (34) |
Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,833,961 | 1,868,985 |
Unrealized Gains | 0 | 694 |
Unrealized Losses | (52,121) | (25,563) |
Fair Value | 1,781,840 | 1,844,116 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 1,042,701 | 979,361 |
Unrealized Losses, Less than 12 months | (30,719) | (11,566) |
Fair Value of Investments, 12 months or longer | 739,139 | 773,712 |
Unrealized Losses, 12 months or longer | (21,402) | (13,997) |
Fair Value of Investments | 1,781,840 | 1,753,073 |
Unrealized Losses | (52,121) | (25,563) |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 1,048,210 | 743,761 |
Unrealized Gains | 691 | 3,452 |
Unrealized Losses | (27,087) | (3,000) |
Fair Value | 1,021,814 | 744,213 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 803,271 | 344,796 |
Unrealized Losses, Less than 12 months | (26,367) | (2,103) |
Fair Value of Investments, 12 months or longer | 20,264 | 32,844 |
Unrealized Losses, 12 months or longer | (720) | (897) |
Fair Value of Investments | 823,535 | 377,640 |
Unrealized Losses | (27,087) | (3,000) |
Fixed rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 2,665,485 | 2,829,979 |
Unrealized Gains | 24 | 23 |
Unrealized Losses | (81,612) | (54,372) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 938,137 | 1,011,709 |
Unrealized Losses, Less than 12 months | (23,922) | (13,631) |
Fair Value of Investments, 12 months or longer | 1,645,496 | 1,741,614 |
Unrealized Losses, 12 months or longer | (57,690) | (40,741) |
Variable rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 243,749 | 255,782 |
Unrealized Gains | 718 | 733 |
Unrealized Losses | (29) | (34) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Fair Value of Investments, Less than 12 months | 0 | 0 |
Unrealized Losses, Less than 12 months | 0 | $ 0 |
Fair Value of Investments, 12 months or longer | 9,317 | |
Unrealized Losses, 12 months or longer | $ (29) |
Investment Securities - Summa58
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, 2018 | Dec. 31, 2017 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 14,548,856 | $ 12,663,455 |
Held-to-maturity securities | 14,229,439 | 12,548,280 |
U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 707,574 | 661,545 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 7,889,876 | 6,266,295 |
Agency-issued commercial mortgage-backed securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 1,781,840 | 1,844,116 |
US States and Political Subdivisions Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 1,021,814 | 744,213 |
Held-to-maturity Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 14,548,856 | |
Held-to-maturity securities | 14,229,439 | |
One Year or Less - Amortized Cost | 8,903 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 8,872 | |
After One Year to Five Years - Amortized Cost | 394,549 | |
After Five Years to Ten Years - Amortized Cost | 1,503,769 | |
After Ten Years - Amortized Cost | 12,604,013 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 12,328,222 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 388,576 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 1,541,391 | |
Held-to-maturity Securities [Member] | U.S. agency debentures | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 714,008 | |
Held-to-maturity securities | 707,574 | |
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 | 122,092 | |
After Five Years to Ten Years - Amortized Cost | 586,285 | |
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 | 121,289 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 591,916 | |
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 | 8,043,443 | |
Held-to-maturity securities | 7,889,876 | |
One Year or Less - Amortized Cost | 718 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 715 | |
After One Year to Five Years - Amortized Cost | 198,545 | |
After Five Years to Ten Years - Amortized Cost | 266,194 | |
After Ten Years - Amortized Cost | 7,570,748 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 7,428,541 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 194,426 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 273,432 | |
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 | 422,211 | |
After Ten Years - Amortized Cost | 2,227,048 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 2,161,686 | |
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 | 438,437 | |
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 | 243,749 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 244,438 | |
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 | 1,833,961 | |
Held-to-maturity securities | 1,781,840 | |
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 | 1,833,961 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 1,781,840 | |
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 | 1,048,210 | |
Held-to-maturity securities | 1,021,814 | |
One Year or Less - Amortized Cost | 8,185 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 8,157 | |
After One Year to Five Years - Amortized Cost | 73,912 | |
After Five Years to Ten Years - Amortized Cost | 229,079 | |
After Ten Years - Amortized Cost | 728,507 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 711,717 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 72,861 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | $ 237,606 | |
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 | $ 244,438 | 256,481 |
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 | 243,749 | |
Held-to-maturity securities | 244,438 | |
Fixed rate | Residential mortgage-backed securities | Agency-issued collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity securities | 2,583,897 | $ 2,775,630 |
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 | 2,665,485 | |
Held-to-maturity securities | $ 2,583,897 |
Investment Securities - Compone
Investment Securities - Components of Gains and Losses (Realized and Unrealized) on Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gain (Loss) on Investments [Line Items] | ||
Net gains (losses) on non-marketable and other equity securities: | $ 0 | $ 675 |
Gains and Losses on Non-Marketable and Other Securities | 9,058 | 15,362 |
Non-marketable securities | ||
Gain (Loss) on Investments [Line Items] | ||
Gain (Loss) on Sale of Investments | 22,490 | (3,373) |
Unrealized net gains on investment securities still held | 31,548 | 11,989 |
Non-marketable securities | Fair value accounting | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | (22,282) | (82) |
Non-marketable securities | Fair value accounting | Consolidated venture capital and private equity fund investments | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | 11,647 | 6,463 |
Non-marketable securities | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | 11,719 | 3,047 |
Non-marketable securities | Fair value accounting | Other securities | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | 1,741 | 3,373 |
Non-marketable securities | Equity method accounting | Consolidated venture capital and private equity fund investments | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | 9,569 | 3,734 |
Non-marketable securities | Equity method accounting | Other securities | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | (1,037) | (742) |
Non-marketable securities | Equity method accounting | Debt funds | ||
Gain (Loss) on Investments [Line Items] | ||
Unrealized net gains on investment securities still held | $ (2,299) | $ (431) |
Investment Securities - Non-mar
Investment Securities - Non-marketable and Other Securities (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018USD ($)Investment | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)Investment | Dec. 31, 2016 | |
Investment Holdings [Line Items] | ||||
Amortization Method Qualified Affordable Housing Project Investments | $ 225,823 | $ 174,214 | ||
Total non-marketable and other securities | $ 824,936 | 651,053 | ||
Upper Limit | ||||
Investment Holdings [Line Items] | ||||
Equity method investment voting ownership percentage | 5.00% | |||
Security Owned Not Readily Marketable, Name [Domain] | ||||
Investment Holdings [Line Items] | ||||
Unrealized Loss on Securities | $ (2,069) | |||
Unrealized Gain (Loss) on Securities | 4,214 | |||
Consolidated venture capital and private equity fund investments | Fair value accounting | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | 130,015 | 128,111 | ||
Consolidated venture capital and private equity fund investments | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | 97,929 | 89,809 | ||
Debt funds | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | 18,884 | 21,183 | ||
Other investments | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | 112,115 | 111,198 | ||
Low income housing tax credit funds | ||||
Investment Holdings [Line Items] | ||||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | 5,422 | $ 4,692 | ||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 4,792 | $ 3,236 | ||
Unconsolidated venture capital and private equity fund investments (1) | Fair value accounting | Silicon Valley BancVentures, LP | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | $ 1,001 | $ 919 | ||
Percentage of ownership | 10.70% | 10.70% | ||
Debt funds | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 18,884 | $ 21,183 | ||
Debt funds | Equity method accounting | Gold Hill Capital 2008, LP | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 15,978 | 18,690 | ||
Percentage of ownership | 15.50% | 15.50% | ||
Debt funds | Equity method accounting | Other investments | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 2,906 | 2,493 | ||
Other investments | Fair value accounting | ||||
Investment Holdings [Line Items] | ||||
Securities Owned Not Readily Marketable | 29,825 | 27,680 | ||
Other investments | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 112,115 | 111,198 | ||
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 | $ 76,384 | 75,337 | ||
Percentage of ownership | 50.00% | 50.00% | ||
Other investments | Equity method accounting | Other investments | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 35,731 | 35,861 | ||
Consolidated venture capital and private equity fund investments | Fair value accounting | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | 130,015 | 128,111 | ||
Unconsolidated Nonmarketable Securities Investment Company Accounting | 205,651 | 98,548 | ||
Consolidated venture capital and private equity fund investments | Fair value accounting | SVB Strategic Investors Fund, LP | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | $ 14,767 | $ 14,673 | ||
Percentage of ownership | 12.60% | 12.60% | ||
Consolidated 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% | |||
Consolidated 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% | |||
Consolidated venture capital and private equity fund investments | Fair value accounting | SVB Capital Preferred Return Fund, LP | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | $ 56,541 | $ 54,147 | ||
Percentage of ownership | 20.00% | 20.00% | ||
Consolidated venture capital and private equity fund investments | Fair value accounting | SVB Capital—NT Growth Partners, LP | ||||
Investment Holdings [Line Items] | ||||
Consolidated Nonmarketable Securities Investment Company Accounting | $ 57,706 | $ 58,372 | ||
Percentage of ownership | 33.00% | 33.00% | ||
Consolidated venture capital and private equity fund investments | Equity method accounting | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 97,929 | $ 89,809 | ||
Consolidated 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 | $ 5,653 | 6,342 | ||
Percentage of ownership | 8.60% | 8.60% | ||
Consolidated 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 | $ 18,480 | 18,758 | ||
Percentage of ownership | 5.90% | 5.90% | ||
Consolidated 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 | $ 27,408 | 25,551 | ||
Percentage of ownership | 5.00% | 5.00% | ||
Consolidated 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 | $ 20,497 | 16,856 | ||
Consolidated 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 | $ 6,797 | 6,700 | ||
Percentage of ownership | 5.10% | 5.10% | ||
Consolidated venture capital and private equity fund investments | Equity method accounting | Other investments | ||||
Investment Holdings [Line Items] | ||||
Non-marketable securities, equity method accounting | $ 19,094 | $ 15,602 | ||
Consolidated venture capital and private equity fund investments | Cost method accounting | ||||
Investment Holdings [Line Items] | ||||
Number of investments | Investment | 229 | 235 |
Loans, Allowance for Loan Los61
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Composition of Loans, Net of Unearned Income (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Unearned income on loans | $ 158,000 | $ 148,000 |
Loans, net of unearned income | 24,587,944 | 23,106,316 |
Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Gross, Commercial, Construction | 101,000 | 100,000 |
Commercial Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 21,097,918 | 19,697,163 |
Commercial Portfolio Segment | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 6,209,084 | 6,172,531 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,336,000 | 1,193,599 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 11,211,816 | 9,952,377 |
Commercial Portfolio Segment | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 1,932,608 | 1,808,827 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 865,024 | 873,158 |
Commercial Portfolio Segment | Premium wine | Non-real estate secured commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 188,943 | 204,105 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 219,467 | 365,724 |
Commercial Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 320,125 | 476,338 |
Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 3,080,067 | 3,011,627 |
Commercial Real Estate Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 676,081 | 669,053 |
Commercial Real Estate Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,362,340 | 2,300,506 |
Commercial Real Estate Portfolio Segment | Other real estate loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 41,646 | 42,068 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 59,012 | 68,546 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,713,287 | 2,629,486 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,362,340 | 2,300,506 |
Consumer Portfolio Segment | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 350,947 | $ 328,980 |
Loans, Allowance for Loan Los62
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, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | $ 24,587,944 | $ 23,106,316 |
Credit card loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loan portfolio | 307,000 | 270,000 |
Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans Receivable, Gross, Commercial, Construction | 101,000 | 100,000 |
Consumer Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,713,287 | 2,629,486 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,362,340 | 2,300,506 |
Consumer Portfolio Segment | Real estate secured loans | Loans for personal residence | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 2,048,676 | 1,995,840 |
Consumer Portfolio Segment | Real estate secured loans | Loans to eligible employees | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans, net of unearned income | 249,050 | 243,118 |
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 | $ 64,614 | $ 61,548 |
Loans, Allowance for Loan Los63
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, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Unearned income on loans | $ 158,000 | $ 148,000 |
Loans, net of unearned income | 24,587,944 | 23,106,316 |
Commercial Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 21,097,918 | 19,697,163 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 6,209,084 | 6,172,531 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,336,000 | 1,193,599 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 11,211,816 | 9,952,377 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 1,932,608 | 1,808,827 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 865,024 | 873,158 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 320,125 | 476,338 |
Commercial and Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 21,874,657 | 20,476,830 |
Consumer Portfolio Segment | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 2,713,287 | 2,629,486 |
Consumer Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | 350,947 | 328,980 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans, net of unearned income | $ 2,362,340 | $ 2,300,506 |
Loans, Allowance for Loan Los64
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, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | $ 502,598 | $ 199,927 |
Current | 24,243,154 | 23,054,226 |
Loans Past Due 90 Days or More Still Accruing Interest | 7 | 191 |
Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 460,030 | 156,278 |
Current | 24,102,083 | 22,923,014 |
Loans Past Due 90 Days or More Still Accruing Interest | 7 | 191 |
Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 42,568 | 43,649 |
Current | 141,071 | 131,212 |
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 | 408,165 | 111,525 |
30 - 59 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 400,052 | 110,181 |
30 - 59 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 8,113 | 1,344 |
60 - 89 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 61,217 | 57,808 |
60 - 89 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 59,971 | 45,906 |
60 - 89 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,246 | 11,902 |
Greater Than 90 Days Past Due | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 33,216 | 30,594 |
Greater Than 90 Days Past Due | Total gross loans excluding impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 7 | 191 |
Greater Than 90 Days Past Due | Impaired loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 33,209 | 30,403 |
Commercial Portfolio Segment | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 41,230 | 20,924 |
Current | 6,113,585 | 6,101,147 |
Loans Past Due 90 Days or More Still Accruing Interest | 3 | 141 |
Commercial Portfolio Segment | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 5,547 | 1,272 |
Current | 1,306,873 | 1,163,278 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 50 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 407,143 | 125,146 |
Current | 10,814,598 | 9,835,317 |
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 | 4,246 | 4,581 |
Current | 1,972,241 | 1,841,692 |
Loans Past Due 90 Days or More Still Accruing Interest | 4 | 0 |
Commercial Portfolio Segment | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 708 | 418 |
Current | 862,530 | 871,074 |
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 | 0 | 445 |
Current | 328,847 | 490,292 |
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 | 458,874 | 152,786 |
Current | 21,398,674 | 20,302,800 |
Loans Past Due 90 Days or More Still Accruing Interest | 7 | 191 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 30,557 | 14,257 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 5,502 | 1,145 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 357,936 | 86,566 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 4,193 | 4,390 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 708 | 418 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 445 |
Commercial Portfolio Segment | 30 - 59 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 398,896 | 107,221 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 10,670 | 6,526 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 45 | 77 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Private equity/venture capital | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 49,207 | 38,580 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Life science/healthcare | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 49 | 191 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Premium wine | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial Portfolio Segment | 60 - 89 Days Past Due | Commercial loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 59,971 | 45,374 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Software/internet | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 3 | 141 |
Commercial Portfolio Segment | Greater Than 90 Days Past Due | Hardware | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 50 |
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 | 4 | 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 | 7 | 191 |
Consumer Portfolio Segment | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 599 | 2,696 |
Current | 2,354,108 | 2,292,980 |
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 | 557 | 796 |
Current | 349,301 | 327,234 |
Loans Past Due 90 Days or More Still Accruing Interest | 0 | 0 |
Consumer Portfolio Segment | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,156 | 3,492 |
Current | 2,703,409 | 2,620,214 |
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 | 599 | 2,164 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 557 | 796 |
Consumer Portfolio Segment | 30 - 59 Days Past Due | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 1,156 | 2,960 |
Consumer Portfolio Segment | 60 - 89 Days Past Due | Real estate secured loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due | 0 | 532 |
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 | 532 |
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 Los65
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, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | $ 183,639 | $ 174,861 |
Total unpaid principal of impaired loans | 211,911 | 205,295 |
Impaired loans for which there is a related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 96,061 | 88,246 |
Impaired loans for which there is no related allowance for loan losses | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 87,578 | 86,615 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 116,142 | 110,654 |
Total unpaid principal of impaired loans | 137,467 | 129,006 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 36,821 | 36,350 |
Total unpaid principal of impaired loans | 37,450 | 41,721 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 108 | 658 |
Total unpaid principal of impaired loans | 108 | 984 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 22,289 | 21,687 |
Total unpaid principal of impaired loans | 26,913 | 26,360 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 2,722 | 2,877 |
Total unpaid principal of impaired loans | 2,762 | 2,911 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 14 | 32 |
Total unpaid principal of impaired loans | 94 | 165 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 178,096 | 172,258 |
Total unpaid principal of impaired loans | 204,794 | 201,147 |
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 | 56,600 | 49,645 |
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 | 14,833 | 15,637 |
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 | 108 | 658 |
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 | 19,672 | 20,521 |
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 | 372 | 0 |
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 | 14 | 32 |
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 | 91,599 | 86,493 |
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 | 59,542 | 61,009 |
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 | 21,988 | 20,713 |
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 | 2,617 | 1,166 |
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 | 2,350 | 2,877 |
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 | 86,497 | 85,765 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 4,490 | 2,181 |
Total unpaid principal of impaired loans | 6,043 | 3,712 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 1,053 | 422 |
Total unpaid principal of impaired loans | 1,074 | 436 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Carrying value of impaired loans | 5,543 | 2,603 |
Total unpaid principal of impaired loans | 7,117 | 4,148 |
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 | 4,164 | 1,331 |
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 | 298 | 422 |
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 | 4,462 | 1,753 |
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 | 326 | 850 |
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 | 755 | 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 | $ 1,081 | $ 850 |
Loans, Allowance for Loan Los66
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, 2018 | Mar. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | $ 176,777 | $ 191,236 |
Interest income on impaired loans | 973 | 1,196 |
Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 302 | 358 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 108,788 | 109,916 |
Interest income on impaired loans | 532 | 422 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 38,426 | 34,110 |
Interest income on impaired loans | 363 | 572 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Interest income on impaired loans | 0 | 2 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 22,679 | 38,942 |
Interest income on impaired loans | 37 | 150 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 2,769 | 3,213 |
Interest income on impaired loans | 36 | 38 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 11 | 1,061 |
Interest income on impaired loans | 0 | 4 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 172,975 | 187,600 |
Interest income on impaired loans | 968 | 1,188 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 3,063 | 1,488 |
Interest income on impaired loans | 0 | 0 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 739 | 2,148 |
Interest income on impaired loans | 5 | 8 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Average impaired loans | 3,802 | 3,636 |
Interest income on impaired loans | $ 5 | $ 8 |
Loans, Allowance for Loan Los67
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, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Reserve For Unfunded Credit Commitments | $ 52,823 | $ 46,335 | $ 51,770 | $ 45,265 |
Provision for unfunded credit commitments | 976 | 1,055 | ||
Foreign Currency Translation, Unfunded Credit Commitments | 77 | 15 | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 255,024 | 225,366 | ||
Charge-offs | (10,587) | (14,030) | ||
Recoveries | 1,788 | 1,792 | ||
Provision for credit losses | 26,996 | 29,679 | ||
Foreign Currency Translation Adjustments | 1,073 | 323 | ||
Ending Balance | 274,294 | 243,130 | ||
Commercial Portfolio Segment | Software/internet | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 96,104 | 97,388 | ||
Charge-offs | (6,671) | (7,980) | ||
Recoveries | 573 | 1,171 | ||
Provision for credit losses | 12,801 | 18,719 | ||
Foreign Currency Translation Adjustments | 488 | 204 | ||
Ending Balance | 103,295 | 109,502 | ||
Commercial Portfolio Segment | Hardware | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 27,614 | 31,166 | ||
Charge-offs | (2,953) | (4,024) | ||
Recoveries | 588 | 267 | ||
Provision for credit losses | 3,104 | (4,080) | ||
Foreign Currency Translation Adjustments | 119 | (45) | ||
Ending Balance | 28,472 | 23,284 | ||
Commercial Portfolio Segment | Private equity/venture capital | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 82,468 | 50,299 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 10 | 0 | ||
Provision for credit losses | 8,805 | 6,706 | ||
Foreign Currency Translation Adjustments | 335 | 73 | ||
Ending Balance | 91,618 | 57,078 | ||
Commercial Portfolio Segment | Life science/healthcare | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 24,924 | 25,446 | ||
Charge-offs | (864) | (1,732) | ||
Recoveries | 53 | 36 | ||
Provision for credit losses | 1,631 | 7,708 | ||
Foreign Currency Translation Adjustments | 62 | 84 | ||
Ending Balance | 25,806 | 31,542 | ||
Commercial Portfolio Segment | Premium wine | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 3,532 | 4,115 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for credit losses | (161) | 226 | ||
Foreign Currency Translation Adjustments | (6) | 2 | ||
Ending Balance | 3,365 | 4,343 | ||
Commercial Portfolio Segment | Other | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 3,941 | 4,768 | ||
Charge-offs | (99) | (294) | ||
Recoveries | 537 | 297 | ||
Provision for credit losses | (906) | (390) | ||
Foreign Currency Translation Adjustments | 9 | (4) | ||
Ending Balance | 3,482 | 4,377 | ||
Commercial Portfolio Segment | Commercial loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 238,583 | 213,182 | ||
Charge-offs | (10,587) | (14,030) | ||
Recoveries | 1,761 | 1,771 | ||
Provision for credit losses | 25,274 | 28,889 | ||
Foreign Currency Translation Adjustments | 1,007 | 314 | ||
Ending Balance | 256,038 | 230,126 | ||
Consumer Portfolio Segment | Consumer loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Beginning Balance | 16,441 | 12,184 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 27 | 21 | ||
Provision for credit losses | 1,722 | 790 | ||
Foreign Currency Translation Adjustments | 66 | 9 | ||
Ending Balance | $ 18,256 | $ 13,004 |
Loans, Allowance for Loan Los68
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, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | $ 44,261 | $ 41,793 |
Individually evaluated for impairment, recorded investment in loans | 183,639 | 174,861 |
Collectively evaluated for impairment, allowance for loan losses | 230,033 | 213,231 |
Collectively evaluated for impairment, allowance for loan losses | 24,404,305 | 22,931,455 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 27,379 | 23,088 |
Individually evaluated for impairment, recorded investment in loans | 116,142 | 110,654 |
Collectively evaluated for impairment, allowance for loan losses | 75,916 | 73,016 |
Collectively evaluated for impairment, allowance for loan losses | 6,092,942 | 6,061,877 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 7,087 | 8,450 |
Individually evaluated for impairment, recorded investment in loans | 36,821 | 36,350 |
Collectively evaluated for impairment, allowance for loan losses | 21,385 | 19,164 |
Collectively evaluated for impairment, allowance for loan losses | 1,299,179 | 1,157,249 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 108 | 330 |
Individually evaluated for impairment, recorded investment in loans | 108 | 658 |
Collectively evaluated for impairment, allowance for loan losses | 91,510 | 82,138 |
Collectively evaluated for impairment, allowance for loan losses | 11,211,708 | 9,951,719 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 8,149 | 9,315 |
Individually evaluated for impairment, recorded investment in loans | 22,289 | 21,687 |
Collectively evaluated for impairment, allowance for loan losses | 17,657 | 15,609 |
Collectively evaluated for impairment, allowance for loan losses | 1,910,319 | 1,787,140 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 0 | 0 |
Individually evaluated for impairment, recorded investment in loans | 2,722 | 2,877 |
Collectively evaluated for impairment, allowance for loan losses | 3,365 | 3,532 |
Collectively evaluated for impairment, allowance for loan losses | 862,302 | 870,281 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 14 | 32 |
Individually evaluated for impairment, recorded investment in loans | 14 | 32 |
Collectively evaluated for impairment, allowance for loan losses | 3,468 | 3,909 |
Collectively evaluated for impairment, allowance for loan losses | 320,111 | 476,306 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 42,737 | 41,215 |
Individually evaluated for impairment, recorded investment in loans | 178,096 | 172,258 |
Collectively evaluated for impairment, allowance for loan losses | 213,301 | 197,368 |
Collectively evaluated for impairment, allowance for loan losses | 21,696,561 | 20,304,572 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Impaired [Line Items] | ||
Individually evaluated for impairment, allowance for loan losses | 1,524 | 578 |
Individually evaluated for impairment, recorded investment in loans | 5,543 | 2,603 |
Collectively evaluated for impairment, allowance for loan losses | 16,732 | 15,863 |
Collectively evaluated for impairment, allowance for loan losses | $ 2,707,744 | $ 2,626,883 |
Loans, Allowance for Loan Los69
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, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 24,745,752 | $ 23,254,153 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 23,674,755 | 22,357,492 |
Performing (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 887,358 | 721,800 |
Performing Impaired (Criticized) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 66,972 | 55,602 |
Nonperforming Impaired (Nonaccrual) | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 116,667 | 119,259 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 6,270,957 | 6,232,725 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,349,241 | 1,200,900 |
Commercial Portfolio Segment | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 11,221,849 | 9,961,121 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,998,776 | 1,867,960 |
Commercial Portfolio Segment | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 865,960 | 874,369 |
Commercial Portfolio Segment | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 328,861 | 490,769 |
Commercial Portfolio Segment | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 22,035,644 | 20,627,844 |
Commercial Portfolio Segment | Pass | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 5,622,167 | 5,655,739 |
Commercial Portfolio Segment | Pass | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,201,029 | 1,112,574 |
Commercial Portfolio Segment | Pass | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 11,217,832 | 9,955,082 |
Commercial Portfolio Segment | Pass | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,787,185 | 1,720,613 |
Commercial Portfolio Segment | Pass | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 825,892 | 834,537 |
Commercial Portfolio Segment | Pass | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 325,122 | 469,721 |
Commercial Portfolio Segment | Pass | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 20,979,227 | 19,748,266 |
Commercial Portfolio Segment | Performing (Criticized) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 532,648 | 466,332 |
Commercial Portfolio Segment | Performing (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 111,391 | 51,976 |
Commercial Portfolio Segment | Performing (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 3,909 | 5,381 |
Commercial Portfolio Segment | Performing (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 189,302 | 125,660 |
Commercial Portfolio Segment | Performing (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 37,346 | 36,955 |
Commercial Portfolio Segment | Performing (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 3,725 | 21,016 |
Commercial Portfolio Segment | Performing (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 878,321 | 707,320 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 39,691 | 31,794 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 21,988 | 20,165 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,617 | 1,167 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,350 | 2,476 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Commercial Portfolio Segment | Performing Impaired (Criticized) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 66,646 | 55,602 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Software/internet | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 76,451 | 78,860 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Hardware | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 14,833 | 16,185 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Private equity/venture capital | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 108 | 658 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Life science/healthcare | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 19,672 | 20,520 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Premium wine | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 372 | 401 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 14 | 32 |
Commercial Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Commercial loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 111,450 | 116,656 |
Consumer Portfolio Segment | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,359,197 | 2,297,857 |
Consumer Portfolio Segment | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 350,911 | 328,452 |
Consumer Portfolio Segment | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,710,108 | 2,626,309 |
Consumer Portfolio Segment | Pass | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,346,069 | 2,282,375 |
Consumer Portfolio Segment | Pass | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 349,459 | 326,851 |
Consumer Portfolio Segment | Pass | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 2,695,528 | 2,609,226 |
Consumer Portfolio Segment | Performing (Criticized) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 8,638 | 13,301 |
Consumer Portfolio Segment | Performing (Criticized) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 399 | 1,179 |
Consumer Portfolio Segment | Performing (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 9,037 | 14,480 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 326 | 0 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 0 | 0 |
Consumer Portfolio Segment | Performing Impaired (Criticized) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 326 | 0 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Real estate secured loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 4,164 | 2,181 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Other consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | 1,053 | 422 |
Consumer Portfolio Segment | Nonperforming Impaired (Nonaccrual) | Consumer loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable | $ 5,217 | $ 2,603 |
Loans, Allowance for Loan Los70
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, 2018USD ($)troubled_debt_restructuring | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 21 | ||
Loans modified in TDRs | $ 140,986 | $ 147,793 | |
Modifications, Unfunded Commitments Available For Funding | 400 | ||
Loans classified as TDRs, charge-offs | 0 | $ 6,200 | |
Financing receivable modifications recorded investment modified during period | 3,880 | 6,309 | |
Software/internet | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 67,205 | 73,455 | |
Financing receivable modifications recorded investment modified during period | 756 | 6,309 | |
Hardware | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 50,030 | 51,132 | |
Financing receivable modifications recorded investment modified during period | 1,559 | 0 | |
Private equity/venture capital | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 0 | 350 | |
Life science/healthcare | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 20,037 | 19,235 | |
Financing receivable modifications recorded investment modified during period | 1,239 | 0 | |
Premium wine | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 3,137 | 3,198 | |
Other | Consumer Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 577 | 423 | |
Financing receivable modifications recorded investment modified during period | 326 | 0 | |
Commercial loans | |||
Financing Receivable, Modifications [Line Items] | |||
Financing receivable modifications recorded investment modified during period | 3,554 | 6,309 | |
Commercial loans | Commercial Portfolio Segment | |||
Financing Receivable, Modifications [Line Items] | |||
Loans modified in TDRs | 140,409 | $ 147,370 | |
Payment deferrals granted | |||
Financing Receivable, Modifications [Line Items] | |||
Financing receivable modifications recorded investment modified during period | $ 3,900 | $ 6,300 |
Loans, Allowance for Loan Los71
Loans, Allowance for Loan Losses and Allowance for Unfunded Credit Commitments - Recorded Investment in Loans Modified in TDRs (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)troubled_debt_restructuring | Mar. 31, 2017USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Modifications, Unfunded Commitments Available For Funding | $ 400 | |
Financing Receivable, Modifications, Number of Contracts | troubled_debt_restructuring | 21 | |
Financing receivable modifications recorded investment modified during period | $ 3,880 | $ 6,309 |
Loans classified as TDRs, charge-offs | 0 | 6,200 |
Financing receivable modifications recorded investment subsequently defaulted | 3,032 | 3,641 |
Commercial loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 3,554 | 6,309 |
Financing receivable modifications recorded investment subsequently defaulted | 3,032 | 3,105 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 756 | 6,309 |
Financing receivable modifications recorded investment subsequently defaulted | 3,032 | 0 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 1,559 | 0 |
Financing receivable modifications recorded investment subsequently defaulted | 0 | 3,105 |
Commercial Portfolio Segment | Life science/healthcare | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 1,239 | 0 |
Consumer Portfolio Segment | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | 326 | 0 |
Financing receivable modifications recorded investment subsequently defaulted | 0 | 536 |
Payment deferrals granted | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment modified during period | $ 3,900 | $ 6,300 |
Loans, Allowance for Loan Los72
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 ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | $ 3,032 | $ 3,641 |
Commercial loans | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 3,032 | 3,105 |
Commercial Portfolio Segment | Software/internet | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 3,032 | 0 |
Commercial Portfolio Segment | Hardware | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | 0 | 3,105 |
Consumer Portfolio Segment [Member] | Other | ||
Financing Receivable, Modifications [Line Items] | ||
Financing receivable modifications recorded investment subsequently defaulted | $ 0 | $ 536 |
Short-Term Borrowings and Lon73
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Debt Outstanding [Line Items] | ||
Short-term borrowings | $ 1,102,140,000 | $ 1,033,730,000 |
Total long-term debt | 695,731,000 | 695,492,000 |
Short-term FHLB advances | ||
Debt Outstanding [Line Items] | ||
Short-term FHLB advances | $ 700,000,000 | 700,000,000 |
Maturity | Apr. 2, 2018 | |
Principal value at period end | $ 700,000,000 | |
Federal Funds Purchased [Member] | ||
Debt Outstanding [Line Items] | ||
Other short-term borrowings | $ 395,000,000 | 330,000,000 |
Maturity | Apr. 2, 2018 | |
Principal value at period end | $ 395,000,000 | |
Other short-term borrowings | ||
Debt Outstanding [Line Items] | ||
Other short-term borrowings | 7,140,000 | 3,730,000 |
Principal value at period end | $ 7,140,000 | |
3.50% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Jan. 29, 2025 | |
Principal value at period end | $ 350,000,000 | |
Senior notes | $ 347,386,000 | 347,303,000 |
5.375% Senior Notes | ||
Debt Outstanding [Line Items] | ||
Maturity | Sep. 15, 2020 | |
Principal value at period end | $ 350,000,000 | |
Senior notes | $ 348,345,000 | $ 348,189,000 |
Short-Term Borrowings and Lon74
Short-Term Borrowings and Long-Term Debt - Outstanding Short Term Borrowings and Long Term Debt (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Debt Outstanding [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 1.82% | 1.39% |
Long-term Debt [Member] | ||
Debt Outstanding [Line Items] | ||
Interest expense on debt | $ 8 | |
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% | |
7.0% Junior Subordinated Debentures | ||
Debt Outstanding [Line Items] | ||
Interest rate on debt | 7.00% |
Short-Term Borrowings and Lon75
Short-Term Borrowings and Long-Term Debt - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Debt Disclosure [Line Items] | ||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 1.82% | 1.39% |
Federal Funds Purchased [Member] | ||
Debt Disclosure [Line Items] | ||
Other short-term borrowings | $ 395,000 | $ 330,000 |
Short-term Debt [Member] | ||
Debt Disclosure [Line Items] | ||
Interest expense on debt | 400 | |
Short-term FHLB advances | ||
Debt Disclosure [Line Items] | ||
Market value of collateral pledged | 3,800,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 3,100,000 | |
Federal Reserve Bank Advances | ||
Debt Disclosure [Line Items] | ||
Market value of collateral pledged | $ 1,000,000 |
Derivative Financial Instrume76
Derivative Financial Instruments - Total Notional or Contractual Amounts, Fair Value, Collateral and Net Exposure of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative [Line Items] | ||
Variation Margin | $ 8,600 | |
Derivative Asset | 249,243 | $ 232,152 |
Derivative Liability | 117,694 | 108,581 |
Variation Margin - Notional Amount | 433,600 | |
Foreign exchange forwards | ||
Derivative [Line Items] | ||
Fair value, Assets | 106,618 | 95,449 |
Fair value, Liabilities | (102,439) | (95,454) |
Client foreign currency options | ||
Derivative [Line Items] | ||
Fair value, Assets | 1,886 | 1,187 |
Fair value, Liabilities | (1,886) | (1,187) |
Client interest rate derivatives | ||
Derivative [Line Items] | ||
Fair value, Assets | 5,070 | 11,753 |
Fair value, Liabilities | (13,369) | (11,940) |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other assets | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 490,255 | 50,889 |
Fair value, Assets | 6,713 | 414 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other liability | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 393,082 | 425,055 |
Fair value, Liabilities | 10,244 | 5,201 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Other derivative contracts | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 146,954 | 102,678 |
Fair value, Assets | 1,886 | 1,187 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 287,489 | 726,984 |
Fair value, Assets | 5,070 | 11,753 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other assets | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 2,159,827 | 2,203,643 |
Fair value, Assets | 99,905 | 95,035 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Other derivative contracts | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 146,954 | 102,678 |
Fair value, Liabilities | 1,886 | 1,187 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Client interest rate derivatives | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 770,653 | 782,586 |
Fair value, Liabilities | 13,369 | 11,940 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other liability | Foreign Exchange Contract | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | 2,077,802 | 2,092,207 |
Fair value, Liabilities | $ 92,195 | $ 90,253 |
Derivative Financial Instrume77
Derivative Financial Instruments - Summary of Derivative Activity and Related Impact on Consolidated Statements of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Equity warrant assets | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | $ 17,508 | $ 1,545 |
Derivatives designated as hedging instruments | Interest rate risks | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 0 | 553 |
Derivatives designated as hedging instruments | Interest rate risks | Interest expense—borrowings | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 0 | 554 |
Derivatives designated as hedging instruments | Interest rate risks | Other noninterest income | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 0 | (1) |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (586) | 863 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other noninterest income | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (3,512) | (3,245) |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | Other noninterest income | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 2,926 | 4,108 |
Derivatives not designated as hedging instruments | Other derivative instruments | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 539 | 465 |
Derivatives not designated as hedging instruments | Other derivative instruments | Other noninterest income | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (7,114) | (2,289) |
Derivatives not designated as hedging instruments | Other derivative instruments | Other noninterest income | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 7,653 | 2,754 |
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 | 431 | (276) |
Derivatives not designated as hedging instruments | Equity warrant assets | gains and losses on equity warrant assets [Domain] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | $ 19,191 | $ 6,690 |
Derivative Financial Instrume78
Derivative Financial Instruments - Master Netting Arrangements (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | $ 488,754 | $ 356,265 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Gross Amounts of Recognized Liabilities | 117,694 | 108,581 |
Net Amounts of Assets Presented in the Statement of Financial Position | 488,754 | 356,265 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (395,975) | (274,630) |
Cash Collateral Received Subject to Master Netting Arrangements | (7,140) | (3,730) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 85,639 | 77,905 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | (96,214) | (81,164) |
Securities Sold under Agreements to Repurchase, Asset | 0 | 0 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 117,694 | 108,581 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (7,586) | (11,498) |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 13,894 | 15,919 |
Securities Sold under Agreements to Repurchase, Gross | 0 | 0 |
Securities Purchased under Agreements to Resell, Gross | 375,180 | 247,876 |
Securities Purchased under Agreements to Resell, Liability | 0 | 0 |
Securities Purchased under Agreements to Resell, Collateral, Obligation to Return Securities | 375,180 | 247,876 |
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 |
Foreign exchange forwards | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 106,618 | 95,449 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (102,439) | (95,454) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 17,027 | 14,570 |
Derivative, Collateral, Obligation to Return Cash | 5,264 | 3,616 |
Derivative, Collateral, Right to Reclaim Securities | 6,624 | 10,997 |
Derivative, Collateral, Right to Reclaim Cash | 82,502 | 69,110 |
Client foreign currency options | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 1,886 | 1,187 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (1,886) | (1,187) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 574 | 557 |
Derivative, Collateral, Obligation to Return Cash | 0 | 0 |
Derivative, Collateral, Right to Reclaim Securities | 962 | 501 |
Derivative, Collateral, Right to Reclaim Cash | 434 | 130 |
Client interest rate derivatives | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Derivative Asset, Fair Value, Gross Asset | 5,070 | 11,753 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Fair value, Liabilities | (13,369) | (11,940) |
Derivative Liability, Fair Value, Gross Asset | 0 | 0 |
Derivative, Collateral, Obligation to Return Securities | 3,194 | 11,627 |
Derivative, Collateral, Obligation to Return Cash | 1,876 | 114 |
Derivative, Collateral, Right to Reclaim Securities | 0 | 0 |
Derivative, Collateral, Right to Reclaim Cash | 13,278 | 11,924 |
Derivative | ||
Assets and Liabilities Subject to Master Netting Arrangements [Line Items] | ||
Gross Amounts of Recognized Assets | 113,574 | 108,389 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Gross Amounts of Recognized Liabilities | 117,694 | 108,581 |
Net Amounts of Assets Presented in the Statement of Financial Position | 113,574 | 108,389 |
Gross Assets Subject To Master Netting Arrangement Not Offset | (20,795) | (26,754) |
Cash Collateral Received Subject to Master Netting Arrangements | (7,140) | (3,730) |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 85,639 | 77,905 |
Gross Amounts offset in the Statement of Financial Position | 0 | 0 |
Cash Collateral Pledged Subject to Master Netting Arrangements | (96,214) | (81,164) |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 117,694 | 108,581 |
Gross Liabilities Subject To Master Netting Arrangement Not Offset | (7,586) | (11,498) |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 13,894 | 15,919 |
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 | 106,618 | 95,449 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 84,327 | 77,263 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 102,439 | 95,454 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 13,313 | 15,347 |
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 | 1,886 | 1,187 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 1,312 | 630 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 1,886 | 1,187 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 490 | 556 |
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 | 5,070 | 11,753 |
Net Assets After Deducting Amounts Subject to Master Netting Arrangements | 0 | 12 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 13,369 | 11,940 |
Net Liabilities After Deducting Amounts Subject to Master Netting Arrangements | 91 | 16 |
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 | 375,180 | 247,876 |
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 | 222,373 | 211,253 |
Derivative Asset, Fair Value, Gross Asset | $ 135,669 | $ 123,763 |
Noninterest Income Summary of N
Noninterest Income Summary of Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Summary of noninterest income [Abstract] | ||
Gains on investment securities, net | $ 9,058 | $ 15,970 |
Gains on equity warrant assets, net | 19,191 | 6,690 |
Foreign exchange fees | 33,827 | 26,247 |
Credit card fees | 21,692 | 17,730 |
Deposit service charges | 17,699 | 13,975 |
Client investment fees | 22,875 | 9,026 |
Lending related fees | 10,735 | 8,961 |
Letters of credit and standby letters of credit fees | 8,182 | 6,639 |
Other | 12,259 | 12,421 |
Total noninterest income | $ 155,518 | $ 117,659 |
Noninterest Income Gains and Lo
Noninterest Income Gains and Losses on Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Investments [Abstract] | ||
Gains and Losses on Non-Marketable and Other Securities | $ 9,058 | $ 15,362 |
Marketable Securities, Realized Gain (Loss) | 0 | 608 |
Gains on investment securities, net | $ 9,058 | $ 15,970 |
Noninterest Income Gains and 81
Noninterest Income Gains and Losses on Derivatives (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Derivatives [Abstract] | ||
Gains and Losses on Exercised Warrant Assets | $ 9,927 | $ 7,956 |
Losses on Terminated Equity Warrant Assets | (922) | (634) |
Unrealized Gain (Loss) on Derivatives | 10,186 | (632) |
Gains on equity warrant assets, net | $ 19,191 | $ 6,690 |
Noninterest Income Foreign Exch
Noninterest Income Foreign Exchange Fees (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Derivatives [Abstract] | ||
Brokerage Commissions Revenue | $ 31,202 | $ 22,424 |
Forward Contract Commissions | 2,485 | 3,601 |
Option Premium Fees | 140 | 222 |
Foreign exchange fees | $ 33,827 | $ 26,247 |
Noninterest Income Credit Card
Noninterest Income Credit Card Fees (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Derivatives [Abstract] | ||
Fees and Commissions, Credit and Debit Cards | $ 17,560 | $ 13,971 |
Merchant Discount Fees | 2,906 | 2,740 |
Fees and Commissions, Debit Cards | 1,226 | 1,019 |
Credit card fees | $ 21,692 | $ 17,730 |
Noninterest Income Client Inves
Noninterest Income Client Investment Fees (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Derivatives [Abstract] | ||
Sweep Money Market Fees | $ 12,322 | $ 4,396 |
Investment Advisory, Management and Administrative Fees | 5,358 | 3,378 |
Sweep Repo Fees | 5,195 | 1,252 |
Client investment fees | $ 22,875 | $ 9,026 |
Noninterest Income Lending Rela
Noninterest Income Lending Related Fees (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Gains and Losses on Derivatives [Abstract] | ||
Line of Credit Facility, Commitment Fee Amount | $ 8,757 | $ 6,567 |
Fees and Commissions, Other | 1,978 | 2,394 |
Lending related fees | $ 10,735 | $ 8,961 |
Noninterest Income Summary of O
Noninterest Income Summary of Other Noninterest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Trading Activity, Gains and Losses, Net [Line Items] | ||
Fund management fees | $ 5,736 | $ 5,169 |
Other | 6,570 | 5,924 |
Other | 12,259 | 12,421 |
Client Instruments | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Foreign Currency Transaction Gain (Loss), before Tax | (47) | 1,328 |
Other derivative instruments | Derivatives not designated as hedging instruments | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 539 | 465 |
Other derivative instruments | Derivatives not designated as hedging instruments | Other noninterest income | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (7,114) | (2,289) |
Foreign Exchange Contract | Derivatives not designated as hedging instruments | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (586) | 863 |
Foreign Exchange Contract | Derivatives not designated as hedging instruments | Other noninterest income | ||
Trading Activity, Gains and Losses, Net [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | $ (3,512) | $ (3,245) |
Noninterest Income Disaggrega87
Noninterest Income Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||
Brokerage Commissions Revenue | $ 31,202 | $ 22,424 |
Fees and Commissions, Credit and Debit Cards, Gross of Rebates | 29,548 | |
Merchant Discount Fees | 2,906 | 2,740 |
Deposit service charges | 17,699 | 13,975 |
Client investment fees | 22,875 | 9,026 |
Fund Management Fees | 5,736 | 5,169 |
Correspondent bank fees | 1,396 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 111,362 | |
Noninterest Income, Other Operating Income | 44,156 | |
Noninterest income | 155,518 | 117,659 |
Global Commercial Bank | ||
Disaggregation of Revenue [Line Items] | ||
Brokerage Commissions Revenue | 30,972 | |
Fees and Commissions, Credit and Debit Cards, Gross of Rebates | 29,449 | |
Merchant Discount Fees | 2,906 | |
Deposit service charges | 17,040 | |
Client investment fees | 10,250 | |
Fund Management Fees | 0 | |
Correspondent bank fees | 1,396 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 92,013 | |
Noninterest Income, Other Operating Income | 7,333 | |
Noninterest income | 99,346 | 79,519 |
SVB Private Bank | ||
Disaggregation of Revenue [Line Items] | ||
Brokerage Commissions Revenue | 179 | |
Fees and Commissions, Credit and Debit Cards, Gross of Rebates | 0 | |
Merchant Discount Fees | 0 | |
Deposit service charges | 28 | |
Client investment fees | 302 | |
Fund Management Fees | 0 | |
Correspondent bank fees | 0 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 509 | |
Noninterest Income, Other Operating Income | (2) | |
Noninterest income | 507 | 718 |
SVB Capital | ||
Disaggregation of Revenue [Line Items] | ||
Brokerage Commissions Revenue | 0 | |
Fees and Commissions, Credit and Debit Cards, Gross of Rebates | 0 | |
Merchant Discount Fees | 0 | |
Deposit service charges | 0 | |
Client investment fees | 0 | |
Fund Management Fees | 5,736 | |
Correspondent bank fees | 0 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 5,736 | |
Noninterest Income, Other Operating Income | 23,174 | |
Noninterest income | 28,910 | 16,775 |
Other Items | ||
Disaggregation of Revenue [Line Items] | ||
Brokerage Commissions Revenue | 51 | |
Fees and Commissions, Credit and Debit Cards, Gross of Rebates | 99 | |
Merchant Discount Fees | 0 | |
Deposit service charges | 631 | |
Client investment fees | 12,323 | |
Fund Management Fees | 0 | |
Correspondent bank fees | 0 | |
Revenue from Contract with Customer, Excluding Assessed Tax | 13,104 | |
Noninterest Income, Other Operating Income | 13,651 | |
Noninterest income | $ 26,755 | $ 20,647 |
Other Noninterest Income and 88
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other Noninterest Income [Line Items] | ||
Fund management fees | $ 5,736 | $ 5,169 |
Other (3) | 6,570 | 5,924 |
Total other noninterest income | 12,259 | 12,421 |
Client Instruments | ||
Other Noninterest Income [Line Items] | ||
Gains (losses) on revaluation of internal foreign currency instruments, net (2) | (47) | 1,328 |
Derivatives not designated as hedging instruments | Foreign Exchange Contract | ||
Other Noninterest Income [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (586) | 863 |
Derivatives not designated as hedging instruments | Other derivative instruments | ||
Other Noninterest Income [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | 539 | 465 |
Other noninterest income | Derivatives not designated as hedging instruments | Foreign Exchange Contract | ||
Other Noninterest Income [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | (3,512) | (3,245) |
Other noninterest income | Derivatives not designated as hedging instruments | Other derivative instruments | ||
Other Noninterest Income [Line Items] | ||
Unrealized Gain (Loss) on Derivatives | $ (7,114) | $ (2,289) |
Other Noninterest Income and 89
Other Noninterest Income and Other Noninterest Expense - Summary of Other Noninterest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other Income and Expenses [Abstract] | ||
Lending and other client related processing costs | $ 3,201 | $ 5,539 |
Telephone | 2,377 | 2,703 |
Data processing services | 2,492 | 2,582 |
Dues and publications | 850 | 795 |
Postage and supplies | 667 | 749 |
Other | 5,107 | 3,839 |
Total other noninterest expense | $ 14,694 | $ 16,207 |
Segment Reporting - Additional
Segment Reporting - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018Segment | |
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, 2018 | Mar. 31, 2017 | |
Segment Reporting Information [Line Items] | ||
Net interest income | $ 419,863 | $ 309,993 |
Provision for credit losses | (26,996) | (29,679) |
Provision for credit losses | 27,972 | 30,734 |
Noninterest income | 155,518 | 117,659 |
Noninterest expense | (265,417) | (237,633) |
Income before income tax expense | 281,992 | 159,285 |
Total average loans, net of unearned income | 23,807,212 | 20,069,314 |
Total average assets | 52,367,242 | 45,301,034 |
Total average deposits | 46,106,081 | 39,958,535 |
Global Commercial Bank | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 369,867 | 275,878 |
Provision for credit losses | (25,274) | (28,889) |
Noninterest income | 99,346 | 79,519 |
Noninterest expense | (184,751) | (172,916) |
Income before income tax expense | 259,188 | 153,592 |
Total average loans, net of unearned income | 20,679,202 | 17,647,055 |
Total average assets | 49,953,950 | 42,888,126 |
Total average deposits | 44,041,634 | 38,296,563 |
SVB Private Bank | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 16,247 | 13,610 |
Provision for credit losses | (1,722) | (790) |
Noninterest income | 507 | 718 |
Noninterest expense | (6,043) | (3,919) |
Income before income tax expense | 8,989 | 9,619 |
Total average loans, net of unearned income | 2,666,658 | 2,245,317 |
Total average assets | 2,590,476 | 2,272,825 |
Total average deposits | 1,572,424 | 1,336,849 |
SVB Capital | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 7 | 10 |
Provision for credit losses | 0 | 0 |
Noninterest income | 28,910 | 16,775 |
Noninterest expense | (5,046) | (3,472) |
Income before income tax expense | 23,871 | 13,313 |
Total average loans, net of unearned income | 0 | 0 |
Total average assets | 373,322 | 372,876 |
Total average deposits | 0 | 0 |
Other Items | ||
Segment Reporting Information [Line Items] | ||
Net interest income | 33,742 | 20,495 |
Provision for credit losses | (976) | (1,055) |
Noninterest income | 26,755 | 20,647 |
Noninterest expense | (69,577) | (57,326) |
Income before income tax expense | (10,056) | (17,239) |
Total average loans, net of unearned income | 461,352 | 176,942 |
Total average assets | (550,506) | (232,793) |
Total average deposits | $ 492,023 | $ 325,123 |
Segment Reporting - Segment I92
Segment Reporting - Segment Information (Additional Information) (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Global Commercial Bank | ||
Segment Reporting Information [Line Items] | ||
Depreciation and amortization | $ 5.5 | $ 6.1 |
Off-Balance Sheet Arrangement93
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, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Disclosure Off Balance Sheet Arrangements Guarantees And Other Commitments Additional Information [Abstract] | ||||
Fixed interest rate commitments | $ 1,513,974 | $ 1,478,157 | ||
Variable interest rate commitments | 13,665,905 | 14,034,169 | ||
Total loan commitments available for funding | 15,179,879 | 15,512,326 | ||
Commercial and standby letters of credit | 1,990,923 | 1,950,211 | ||
Total unfunded credit commitments | 17,170,802 | 17,462,537 | ||
Commitments unavailable for funding | 2,602,796 | 2,117,057 | ||
Reserve For Unfunded Credit Commitments | $ 52,823 | $ 51,770 | $ 46,335 | $ 45,265 |
Off-Balance Sheet Arrangement94
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary of Commercial and Standby Letters of Credit (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | $ 1,945,524 | |
Expires After One Year | 45,399 | |
Total Amount Outstanding | 1,990,923 | $ 1,950,211 |
Maximum Amount of Future Payments | 1,990,923 | |
Financial standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 1,828,990 | |
Expires After One Year | 42,039 | |
Total Amount Outstanding | 1,871,029 | |
Maximum Amount of Future Payments | 1,871,029 | |
Performance standby letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 107,170 | |
Expires After One Year | 2,935 | |
Total Amount Outstanding | 110,105 | |
Maximum Amount of Future Payments | 110,105 | |
Commercial letters of credit | ||
Guarantor Obligations [Line Items] | ||
Expires In One Year or Less | 9,364 | |
Expires After One Year | 425 | |
Total Amount Outstanding | 9,789 | |
Maximum Amount of Future Payments | $ 9,789 |
Off-Balance Sheet Arrangement95
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Summary of Commercial and Standby Letters of Credit (Additional Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | |
Commitments and Contingencies Disclosure [Line Items] | |||
Deferred fees | $ 734 | $ 736 | $ 27,057 |
Standby Letter of Credit | |||
Commitments and Contingencies Disclosure [Line Items] | |||
Deferred fees | 11,000 | $ 12,000 | |
Collateral in the form of cash | $ 963,000 | ||
Consolidated 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% | ||
Consolidated 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 | ||
Consolidated 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 |
Off-Balance Sheet Arrangement96
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, 2018USD ($) | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | $ 5,929 |
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 | 1,911 |
SVB Capital—NT Growth Partners, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Unfunded Commitments | 2,680 |
Parent Company | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | 462,362 |
SVBFG Unfunded Commitments | 16,013 |
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 | $ 924 |
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 | 131 |
Parent Company | SVB Capital Preferred Return Fund, LP | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | $ 12,688 |
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 | $ 23,330 |
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 |
Parent Company | Other fund investments | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
SVBFG Capital Commitments | 301,673 |
SVBFG Unfunded Commitments | $ 8,772 |
Off-Balance Sheet Arrangement97
Off-Balance Sheet Arrangements, Guarantees and Other Commitments - Total Capital Commitments, Unfunded Capital Commitments, and Our Ownership in Each Fund (Additional Information) (Detail) - Consolidated venture capital and private equity fund investments | 3 Months Ended |
Mar. 31, 2018Investment | |
Other fund investments | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
Number of other funds with investment commitments | 229 |
Other fund investments | Upper Limit | |
Venture Capital and Private Equity Fund Investments [Line Items] | |
Percentage of ownership | 5.00% |
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 Arrangement98
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 | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 5,929 |
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 | 1,911 |
SVB Capital—NT Growth Partners, LP | |
Commitments and Contingencies Disclosure [Line Items] | |
SVBFG Unfunded Commitments | $ 2,680 |
Lower Limit | Consolidated venture capital and private equity fund investments | |
Commitments and Contingencies Disclosure [Line Items] | |
Expected commitment period to invest in venture capital and private equity funds (in years) | 5 years |
Upper Limit | Consolidated venture capital and private equity fund investments | |
Commitments and Contingencies Disclosure [Line Items] | |
Expected commitment period to invest in venture capital and private equity funds (in years) | 7 years |
Income Taxes (Detail)
Income Taxes (Detail) $ in Millions | Mar. 31, 2018USD ($) |
Income Tax Disclosure [Abstract] | |
Unrecognized tax benefits | $ 12.8 |
Income tax reduction from recognized tax benefit | $ 9.9 |
Fair Value of Financial Inst100
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, 2018 | Dec. 31, 2016 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | $ 10,080,384 | $ 11,120,664 | |
Client interest rate derivatives | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value, Assets | 5,070 | 11,753 | |
Fair value, Liabilities | 13,369 | 11,940 | |
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 | 6,713 | 414 | |
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 | (10,244) | (5,201) | |
U.S. treasury securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 6,016,877 | 6,840,502 | |
U.S. agency debentures | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 1,561,834 | 1,567,128 | |
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 | 2,146,173 | 2,267,035 | |
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 | $ 355,500 | 373,730 | |
Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 72,269 | ||
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 | 13.70% | 15.50% | |
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | $ 10,080,384 | 11,120,664 | |
Total assets | 10,669,987 | 11,481,237 | |
Total liabilities | 117,694 | 108,581 | |
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 | 108,504 | 96,636 | |
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 | 104,325 | 96,641 | |
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 | 135,669 | 123,763 | |
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 | 5,070 | 11,753 | |
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 | 11,940 | ||
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 | 13,369 | ||
Fair Value, Measurements, Recurring | Fair value accounting | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | 340,360 | 128,421 | |
Fair Value, Measurements, Recurring | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | 1,001 | 919 | |
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 | 4,694 | 310 | |
Fair Value, Measurements, Recurring | U.S. treasury securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 6,016,877 | 6,840,502 | |
Fair Value, Measurements, Recurring | U.S. agency debentures | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 1,561,834 | 1,567,128 | |
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 | 2,146,173 | 2,267,035 | |
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 | 355,500 | 373,730 | |
Fair Value, Measurements, Recurring | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 72,269 | ||
Fair Value, Measurements, Recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 6,016,877 | 6,840,660 | |
Total assets | 6,016,908 | 6,840,970 | |
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 | 200 | ||
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 | 31 | 310 | |
Fair Value, Measurements, Recurring | Level 1 | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | 0 | ||
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 | 6,016,877 | 6,840,502 | |
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 | 158 | ||
Fair Value, Measurements, Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 4,063,507 | 4,280,004 | |
Total assets | 4,185,907 | 4,390,825 | |
Total liabilities | 117,694 | 108,581 | |
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 | 108,504 | 96,636 | |
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 | 104,325 | 96,641 | |
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 | 4,163 | 2,432 | |
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 | 5,070 | 11,753 | |
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 | 11,940 | ||
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 | 13,369 | ||
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 | 4,663 | 0 | |
Fair Value, Measurements, Recurring | Level 2 | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | 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 | 4,663 | ||
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 | 1,561,834 | 1,567,128 | |
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 | 2,146,173 | 2,267,035 | |
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 | 355,500 | 373,730 | |
Fair Value, Measurements, Recurring | Level 2 | Equity securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Carrying Value | 72,111 | ||
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 | 132,507 | 122,250 | |
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 | 900 | 800 | |
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 | 131,506 | 121,331 | |
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 | 1,001 | 919 | |
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 | ||
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 | Equity warrant asset, public portfolio | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Sales restrictions discount rate | 20.00% | ||
Other securities | Fair value accounting | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | $ 4,694 | 310 | |
Other securities | 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 | 31 | 310 | |
Other securities | 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 | ||
Other securities | 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 | 0 | 0 | |
Unconsolidated venture capital and private equity fund investments (1) | 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 | 0 | ||
Unconsolidated venture capital and private equity fund investments (1) | 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 | ||
Unconsolidated venture capital and private equity fund investments (1) | Fair Value, Measurements, Recurring | Level 3 | Fair value accounting | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | 1,001 | 919 | |
Consolidated venture capital and private equity fund investments | Fair Value, Measurements, Recurring | Fair value accounting | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Non-marketable securities | $ 334,665 | $ 127,192 |
Fair Value of Financial Inst101
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, 2018 | Mar. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 122,250 | $ 130,853 |
Total Realized and Unrealized Gains Included in Income | 18,693 | 6,609 |
Sales | (12,128) | (17,086) |
Issuances | 4,899 | 4,030 |
Distributions and Other Settlements | 0 | 0 |
Transfers Out of Level 3 | (1,207) | (167) |
Ending Balance | 132,507 | 124,239 |
Equity warrant assets | Other assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 121,331 | 128,813 |
Total Realized and Unrealized Gains Included in Income | 18,611 | 6,609 |
Sales | (12,128) | (17,086) |
Issuances | 4,899 | 4,030 |
Distributions and Other Settlements | 0 | 0 |
Transfers Out of Level 3 | (1,207) | (167) |
Ending Balance | 131,506 | 122,199 |
Non-marketable securities | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | 919 | 2,040 |
Total Realized and Unrealized Gains Included in Income | 82 | 0 |
Sales | 0 | 0 |
Issuances | 0 | 0 |
Distributions and Other Settlements | 0 | 0 |
Transfers Out of Level 3 | 0 | 0 |
Ending Balance | $ 1,001 | $ 2,040 |
Fair Value of Financial Inst102
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, 2018 | Mar. 31, 2017 | |
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 | $ 9,655 | $ (347) |
Unrealized gains attributable to noncontrolling interests (1) | 73 | 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 | 9,573 | (347) |
Non-marketable securities | Fair value accounting | Unconsolidated venture capital and private equity fund investments (1) | ||
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 | $ 82 | $ 0 |
Fair Value of Financial Inst103
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2017 | Mar. 31, 2017 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 132,507 | $ 130,853 | $ 122,250 | $ 124,239 |
Level 3 | Unconsolidated venture capital and private equity fund investments (1) | Fair value accounting | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Valuation Technique | Private company equity pricing | |||
Level 3 | Equity warrant asset, public portfolio | Other assets | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 1,641 | 1,936 | ||
Valuation Technique | Black-Scholes option pricing model | Black-Scholes option pricing model | ||
Sales restrictions discount rate | 13.70% | 15.50% | ||
Volatility | 46.30% | 47.90% | ||
Risk-Free interest rate | 2.70% | 2.10% | ||
Level 3 | Equity warrant assets, private portfolio | Other assets | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 129,865 | 119,395 | ||
Valuation Technique | Black-Scholes option pricing model | Black-Scholes option pricing model | ||
Volatility | 37.00% | 36.70% | ||
Risk-Free interest rate | 2.20% | 1.80% | ||
Marketability discount | 16.40% | 16.40% | ||
Remaining life assumption | 45.00% | 45.00% | ||
Unconsolidated venture capital and private equity fund investments (1) | Level 3 | Fair value accounting | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Fair value | $ 1,001 | $ 919 | ||
Valuation Technique | Private company equity pricing |
Fair Value of Financial Inst104
Fair Value of Financial Instruments - Quantitative Information About Significant Unobservable Inputs (Additional Information) (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
Equity warrant assets, private portfolio | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Weighted average contractual remaining term | 5 years 9 months 85 days |
Estimated remaining life | 2 years 7 months 30 days |
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 | 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 Inst105
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Debt Disclosure [Line Items] | ||
Investments transferred out of Level 3 | $ 1,207 | $ 167 |
Fair Value of Financial Inst106
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments not Carried at Fair Value (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity securities | $ 14,229,439 | $ 12,548,280 |
Loans and Leases Receivable, Net Amount | 24,313,650 | 22,851,292 |
Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 700,000 | 700,000 |
Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 395,000 | 330,000 |
Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 7,140 | 3,730 |
3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,386 | 347,303 |
5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 348,345 | 348,189 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,619,384 | 2,923,075 |
Held-to-maturity securities | 14,548,856 | 12,663,455 |
Non-marketable securities not measured at net asset value | 123,811 | 120,019 |
Non-marketable securities measured at net asset value | 134,942 | 228,399 |
FHLB and Federal Reserve Bank stock | 60,514 | 60,020 |
Non-maturity deposits (1) | 45,895,018 | 44,206,929 |
Time deposits | 41,514 | 47,146 |
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 | 700,000 | |
Carrying Amount | Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 330,000 | |
Carrying Amount | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 1,102,140 | 3,730 |
Carrying Amount | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 347,386 | 347,303 |
Carrying Amount | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 348,345 | 348,189 |
Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,619,384 | 2,923,075 |
Held-to-maturity securities | 14,229,439 | 12,548,280 |
Non-marketable securities not measured at net asset value | 123,811 | 126,345 |
Non-marketable securities measured at net asset value | 134,942 | 331,496 |
FHLB and Federal Reserve Bank stock | 60,514 | 60,020 |
Non-maturity deposits (1) | 45,895,018 | 44,206,929 |
Time deposits | 41,239 | 46,885 |
Commitments to extend credit | 21,507 | 22,208 |
Estimated Fair Value | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 700,000 | |
Estimated Fair Value | Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 330,000 | |
Estimated Fair Value | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 1,102,140 | 3,730 |
Estimated Fair Value | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 343,676 | 352,058 |
Estimated Fair Value | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 369,005 | 374,483 |
Estimated Fair Value | Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 2,619,384 | 2,923,075 |
Held-to-maturity securities | 0 | 0 |
Non-marketable securities not measured at net asset value | 0 | 0 |
FHLB and Federal Reserve Bank stock | 0 | 0 |
Non-maturity deposits (1) | 45,895,018 | 44,206,929 |
Time deposits | 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 | 700,000 | |
Estimated Fair Value | Level 1 | Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 330,000 | |
Estimated Fair Value | Level 1 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 1,102,140 | 3,730 |
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 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
Held-to-maturity securities | 14,229,439 | 12,548,280 |
Non-marketable securities not measured at net asset value | 0 | 0 |
FHLB and Federal Reserve Bank stock | 0 | 0 |
Non-maturity deposits (1) | 0 | 0 |
Time deposits | 41,239 | 46,885 |
Commitments to extend credit | 0 | 0 |
Estimated Fair Value | Level 2 | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | |
Estimated Fair Value | Level 2 | Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | |
Estimated Fair Value | Level 2 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | 0 |
Estimated Fair Value | Level 2 | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 343,676 | 352,058 |
Estimated Fair Value | Level 2 | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 369,005 | 374,483 |
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 not measured at net asset value | 123,811 | 126,345 |
FHLB and Federal Reserve Bank stock | 60,514 | 60,020 |
Non-maturity deposits (1) | 0 | 0 |
Time deposits | 0 | 0 |
Commitments to extend credit | 21,507 | 22,208 |
Estimated Fair Value | Level 3 | Short-term FHLB advances | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Short-term FHLB advances | 0 | |
Estimated Fair Value | Level 3 | Federal Funds Purchased [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | |
Estimated Fair Value | Level 3 | Other short-term borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other short-term borrowings | 0 | 0 |
Estimated Fair Value | Level 3 | 3.50% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 0 | |
Estimated Fair Value | Level 3 | 5.375% Senior Notes | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Senior notes | 0 | 0 |
Consumer Portfolio Segment [Member] | Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 2,695,031 | 2,613,045 |
Consumer Portfolio Segment [Member] | Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 2,695,873 | 2,593,538 |
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 | 2,695,873 | 2,593,538 |
Commercial Portfolio Segment | Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 21,618,619 | 20,238,247 |
Commercial Portfolio Segment | Estimated Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans and Leases Receivable, Net Amount | 21,810,467 | 20,520,623 |
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 | 21,810,467 | $ 20,520,623 |
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 | (13,369) | |
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 | (13,369) | |
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 Inst107
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, 2018USD ($) |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | $ 469,607 |
Fair Value | 469,607 |
Unfunded Commitments | 19,646 |
Debt funds | Non-marketable securities | Equity method accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 18,884 |
Fair Value | 18,884 |
Unfunded Commitments | 0 |
Consolidated venture capital and private equity fund investments | Non-marketable securities | Fair value accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 334,665 |
Fair Value | 334,665 |
Unfunded Commitments | 13,817 |
Consolidated venture capital and private equity fund investments | Non-marketable securities | Equity method accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 97,929 |
Fair Value | 97,929 |
Unfunded Commitments | 4,943 |
Other investments | Non-marketable securities | Equity method accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Carrying Amount | 18,129 |
Fair Value | 18,129 |
Unfunded Commitments | $ 886 |
Fair Value of Financial Inst108
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, 2018USD ($) | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 469,607 |
Unfunded Commitments | $ 19,646 |
Non-marketable securities | Fair value accounting | Consolidated 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 | Consolidated 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 | Equity method accounting | Consolidated 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 | 5 years |
Non-marketable securities | Equity method accounting | Consolidated 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 | 8 years |
Consolidated venture capital and private equity fund investments | Non-marketable securities | Fair value accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | $ 334,665 |
Unfunded Commitments | 13,817 |
Consolidated venture capital and private equity fund investments | Non-marketable securities | Fair value accounting | Noncontrolling Interests | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 95,800 |
Unfunded Commitments | 4,500 |
Consolidated venture capital and private equity fund investments | Non-marketable securities | Equity method accounting | |
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items] | |
Fair Value | 97,929 |
Unfunded Commitments | $ 4,943 |
Uncategorized Items - sivb-2018
Label | Element | Value |
Noncontrolling Interest, Period Increase (Decrease) | us-gaap_MinorityInterestPeriodIncreaseDecrease | $ (1,755,000) |
Stock Issued During Period, Value, Employee Stock Ownership Plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan | 2,094,000 |
Held-to-maturity, Transferred Securities, Amortization of Unrealized Gains, Net of Tax | sivb_HeldtomaturityTransferredSecuritiesAmortizationofUnrealizedGainsNetofTax | (1,058,000) |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 16,929,000 |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities And Reclassification Adjustment For Sale Of Securities Net Of Tax | sivb_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesAndReclassificationAdjustmentForSaleOfSecuritiesNetOfTax | (4,981,000) |
Stock Options Exercised And Vesting Of Restricted Stock Awards Net Of Restricted Stock Cancellations And Forfeitures | sivb_StockOptionsExercisedAndVestingOfRestrictedStockAwardsNetOfRestrictedStockCancellationsAndForfeitures | 6,743,000 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax | 567,000 |
Additional Paid-in Capital [Member] | ||
Stock Issued During Period, Value, Employee Stock Ownership Plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan | 2,094,000 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 16,929,000 |
Stock Options Exercised And Vesting Of Restricted Stock Awards Net Of Restricted Stock Cancellations And Forfeitures | sivb_StockOptionsExercisedAndVestingOfRestrictedStockAwardsNetOfRestrictedStockCancellationsAndForfeitures | 6,743,000 |
AOCI Attributable to Parent [Member] | ||
Held-to-maturity, Transferred Securities, Amortization of Unrealized Gains, Net of Tax | sivb_HeldtomaturityTransferredSecuritiesAmortizationofUnrealizedGainsNetofTax | (1,058,000) |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities And Reclassification Adjustment For Sale Of Securities Net Of Tax | sivb_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesAndReclassificationAdjustmentForSaleOfSecuritiesNetOfTax | (4,981,000) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax | $ 567,000 |
Common Stock [Member] | ||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | us-gaap_StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan | 10,838 |
Stock Options Exercised And Vesting Of Restricted Stock Awards Net Of Restricted Stock Cancellations And Forfeitures Shares | sivb_StockOptionsExercisedAndVestingOfRestrictedStockAwardsNetOfRestrictedStockCancellationsAndForfeituresShares | 162,797 |
Stock Options Exercised And Vesting Of Restricted Stock Awards Net Of Restricted Stock Cancellations And Forfeitures | sivb_StockOptionsExercisedAndVestingOfRestrictedStockAwardsNetOfRestrictedStockCancellationsAndForfeitures | $ 0 |
Retained Earnings [Member] | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | us-gaap_ProfitLoss | 101,483,000 |
Noncontrolling Interest [Member] | ||
Noncontrolling Interest, Period Increase (Decrease) | us-gaap_MinorityInterestPeriodIncreaseDecrease | (1,755,000) |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | us-gaap_ProfitLoss | 6,397,000 |
Parent [Member] | ||
Stock Issued During Period, Value, Employee Stock Ownership Plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan | 2,094,000 |
Held-to-maturity, Transferred Securities, Amortization of Unrealized Gains, Net of Tax | sivb_HeldtomaturityTransferredSecuritiesAmortizationofUnrealizedGainsNetofTax | (1,058,000) |
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 16,929,000 |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities And Reclassification Adjustment For Sale Of Securities Net Of Tax | sivb_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesAndReclassificationAdjustmentForSaleOfSecuritiesNetOfTax | (4,981,000) |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | us-gaap_ProfitLoss | 101,483,000 |
Stock Options Exercised And Vesting Of Restricted Stock Awards Net Of Restricted Stock Cancellations And Forfeitures | sivb_StockOptionsExercisedAndVestingOfRestrictedStockAwardsNetOfRestrictedStockCancellationsAndForfeitures | 6,743,000 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax | $ 567,000 |