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Noninterest Income (Tables)
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Summary of Noninterest Income A summary of noninterest income for the years ended December 31, 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Noninterest income:
 
 
 
 
 
 
Gains on investment securities, net
 
$
134,670

 
$
88,094

 
$
64,603

Gains on equity warrant assets, net
 
138,078

 
89,142

 
54,555

Client investment fees
 
182,068

 
130,360

 
56,136

Foreign exchange fees
 
159,262

 
138,812

 
115,760

Credit card fees
 
118,719

 
94,072

 
76,543

Deposit service charges
 
89,200

 
76,097

 
58,715

Lending related fees
 
49,920

 
41,949

 
43,265

Letters of credit and standby letters of credit fees
 
42,669

 
34,600

 
28,544

Investment banking revenue
 
195,177

 
—

 
—

Commissions
 
56,346

 
—

 
—

Other
 
55,370

 
51,858

 
59,110

Total noninterest income
 
$
1,221,479

 
$
744,984

 
$
557,231
Summary of Gains and Losses on Investment Securities
The following table presents the net gains and losses on non-marketable and other equity securities in 2019, 2018 and 2017 as recorded in the line item “Gains on investment securities, net," a component of noninterest income:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
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
 
$
22,507

 
$
20,999

 
$
27,186

Unconsolidated venture capital and private equity fund investments (1)
 
31,482

 
39,075

 
21,377

Other investments without a readily determinable fair value (1)
 
2,742

 
3,206

 
3,842

Other equity securities in public companies (fair value accounting) (1)
 
7,772

 
(25,483
)
 
241

Non-marketable securities (equity method accounting):
 
 
 
 
 
 
Venture capital and private equity fund investments
 
73,813

 
49,341

 
14,472

Debt funds
 
1,647

 
541

 
8,950

Other investments
 
(1,388
)
 
1,155

 
(6,276
)
Total net gains on non-marketable and other equity securities
 
$
138,575

 
$
88,834

 
$
69,792

Less: Realized net gains (losses) on the sales and OTTI of non-marketable and other equity securities (2)
 
4,744

 
(26,097
)
 
(355
)
Net gains on non-marketable and other equity securities still held
 
$
133,831

 
$
114,931

 
$
70,147

 
 
(1)
Presentation for year-ended December 31, 2017 amounts are not determined in a manner consistent with the December 31, 2018 and 2019 presentation due to the adoption of ASU 2016-01.
(2)
Realized gains and losses include sales and OTTI of non-marketable and other equity securities. Includes gains of $5.2 million on sales and $0.4 million of OTTI for the period ended December 31, 2019. Includes losses of $20.8 million and gains of $3.8 million on sales and $5.3 million and $4.2 million of OTTI for the periods ended December 31, 2018 and 2017, respectively.A summary of gains and losses on investment securities for 2019, 2018 and 2017 is as follows:
  
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Gains on non-marketable and other equity securities, net
 
$
138,575

 
$
88,834

 
$
69,792

Losses on sales of available-for-sale debt securities, net
 
(3,905
)
 
(740
)
 
(5,189
)
Total gains on investment securities, net
 
$
134,670

 
$
88,094

 
$
64,603
Components of Gains on Equity Warrant Assets A summary of net gains on equity warrant assets for 2019, 2018 and 2017 is as follows:
  
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Equity warrant assets:
 
 
 
 
 
 
Gains on exercises, net
 
$
107,168

 
$
58,186

 
$
48,275

Terminations
 
(3,502
)
 
(5,964
)
 
(4,422
)
Changes in fair value, net
 
34,412

 
36,920

 
10,702

Total net gains on equity warrant assets
 
$
138,078

 
$
89,142

 
$
54,555
Components of Asset Management Fees A summary of client investment fees by instrument type for 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Client investment fees by type:
 
 
 
 
 
 
Sweep money market fees
 
$
104,236

 
$
75,654

 
$
28,485

Asset management fees (1)
 
28,665

 
23,882

 
16,831

Repurchase agreement fees
 
49,167

 
30,824

 
10,820

Total client investment fees (2)
 
$
182,068

 
$
130,360

 
$
56,136

 
(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.
Components of Foreign Exchange Fees A summary of foreign exchange fee income by instrument type for 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Foreign exchange fees by instrument type:
 
 
 
 
 
 
Spot contract commissions
 
$
145,915

 
$
127,459

 
$
104,344

Forward contract commissions
 
13,068

 
10,940

 
10,934

Option premium fees
 
279

 
413

 
482

Total foreign exchange fees
 
$
159,262

 
$
138,812

 
$
115,760
Components of Credit Card Fees A summary of credit card fees by instrument type for 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Credit card fees by instrument type:
 
 
 
 
 
 
Card interchange fees, net
 
$
93,553

 
$
74,381

 
$
60,224

Merchant service fees
 
18,355

 
14,420

 
11,584

Card service fees
 
6,811

 
5,271

 
4,735

Total credit card fees
 
$
118,719

 
$
94,072

 
$
76,543
Components of Lending Related Fees A summary of lending related fees by instrument type for 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Lending related fees by instrument type:
 
 
 
 
 
 
Unused commitment fees
 
$
34,829

 
$
32,452

 
$
34,110

Other
 
15,091

 
9,497

 
9,155

Total lending related fees
 
$
49,920

 
$
41,949

 
$
43,265
Schedule of Investment Banking Revenue
A summary of investment banking revenue by instrument type for 2019, 2018 and 2017 is as follows:
  
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Investment banking revenue:
 
 
 
 
 
 
Underwriting fees
 
$
153,306

 
$
—

 
$
—

Advisory fees
 
37,846

 
—

 
—

Private placements and other
 
4,025

 
—

 
—

Total investment banking revenue
 
$
195,177

 
$
—

 
$
—
Summary of Other Noninterest Income
A summary of other noninterest income by instrument type for 2019, 2018 and 2017 is as follows:
 
 
Year ended December 31,
(Dollars in thousands)
 
2019
 
2018
 
2017
Other noninterest income by instrument type:
 
 
 
 
 
 
Fund management fees
 
$
32,522

 
$
23,016

 
$
21,214

Net gains on revaluation of foreign currency instruments, net of foreign exchange forward contracts (1)
 
345

 
666

 
1,788

(Losses) gains on extinguishment of debt
 
(8,960
)
 
—

 
2,731

Other service revenue
 
31,463

 
28,176

 
33,377

Total other noninterest income
 
$
55,370

 
$
51,858

 
$
59,110


 

(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 tables present our revenues from contracts with customers disaggregated by revenue source and segment for the years ended December 31, 2019 and 2018:

(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)
 
SVB Leerink (2)
 
Other Income
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
 
 
Client investment fees
 
$
180,152

 
$
1,916

 
$
—

 
$
—

 
$
—

 
$
182,068

Spot contract commissions
 
144,930

 
510

 
—

 
—

 
475

 
145,915

Card interchange fees, gross
 
154,197

 
—

 
—

 
—

 
756

 
154,953

Merchant service fees
 
18,355

 
—

 
—

 
—

 
—

 
18,355

Deposit service charges
 
88,136

 
137

 
—

 
—

 
927

 
89,200

Investment banking revenue
 
—

 
—

 
—

 
195,177

 
—

 
195,177

Commissions
 
—

 
—

 
—

 
56,346

 
—

 
56,346

Fund management fees
 
—

 
—

 
26,850

 
5,672

 
—

 
32,522

Correspondent bank rebates
 
6,415

 
—

 
—

 
—

 
—

 
6,415

Total revenue from contracts with customers
 
$
592,185

 
$
2,563

 
$
26,850

 
$
257,195

 
$
2,158

 
$
880,951

Revenues outside the scope of ASC 606 (1)
 
45,737

 
803

 
95,544

 
7,321

 
191,123

 
340,528

Total noninterest income
 
$
637,922

 
$
3,366

 
$
122,394

 
$
264,516

 
$
193,281

 
$
1,221,479

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s, SVB Capital’s and SVB Leerink's components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."

(Dollars in thousands)
 
Global
Commercial
Bank (2)
 
SVB Private  
Bank
 
SVB Capital (2)
 
Other Income
 
Total      
Revenue from contracts with customers:
 
 
 
 
 
 
 
 
 
 
Client investment fees (3)
 
$
128,834

 
$
1,526

 
$
—

 
$
—

 
$
130,360

Spot contract commissions
 
126,445

 
691

 
—

 
323

 
127,459

Card interchange fees, gross
 
134,074

 
—

 
—

 
428

 
134,502

Merchant service fees
 
14,415

 
4

 
—

 
1

 
14,420

Deposit service charges
 
74,348

 
108

 
—

 
1,641

 
76,097

Fund management fees
 
—

 
—

 
23,016

 
—

 
23,016

Correspondent bank rebates
 
5,802

 
—

 
—

 
—

 
5,802

Total revenue from contracts with customers
 
$
483,918

 
$
2,329

 
$
23,016

 
$
2,393

 
$
511,656

Revenues outside the scope of ASC 606 (1)
 
36,384

 
(48
)
 
78,165

 
118,827

 
233,328

Total noninterest income
 
$
520,302

 
$
2,281

 
$
101,181

 
$
121,220

 
$
744,984

 
(1)
Amounts are accounted for under separate guidance than ASC 606.
(2)
Global Commercial Bank’s and SVB Capital’s components of noninterest income are shown net of noncontrolling interests. Noncontrolling interest is included within “Other Items."
(3)
For the year ended December 31, 2018, the amount of client investment fees previously reported as "Other Items" has been correctly allocated to the reportable segment "Global Commercial Bank" to properly reflect the source of such revenue. The correction of this immaterial error had no impact on the "Total" amount of client investment fees.