Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Condensed Financial Information

Parent Company Only Condensed Financial Information

The condensed balance sheets of SVB Financial at December 31, 2022, and December 31, 2021, and the related condensed statements of income, comprehensive income and cash flows for December 31, 2022, December 31, 2021, and December 31, 2020, are presented below:

Condensed Balance Sheets

	December 31,
(Dollars in millions)	2022		2021
Assets:
Cash and cash equivalents	$	2,258	$	2,324
Investment securities	491		731
Loans, amortized cost	1		1
Lease right-of-use assets	102		82
Other assets	475		387
Investment in subsidiaries:
Bank subsidiary	15,456		14,795
Nonbank subsidiaries	896		894
Total assets	$	19,679	$	19,214
Liabilities and SVBFG stockholders’ equity:
Long-term debt	$	3,370	$	2,570
Lease liabilities	135		113
Other liabilities	170		295
Total liabilities	$	3,675	$	2,978
SVBFG stockholders’ equity	16,004		16,236
Total liabilities and SVBFG stockholders’ equity	$	19,679	$	19,214

Condensed Statements of Income

	Year ended December 31,
(Dollars in millions)	2022		2021		2020
Interest income	$	1	$	3	$	3
Interest expense	(91)		(48)		(22)
Dividend income from bank subsidiary	294		—		50
Gains on equity warrant assets, net	146		554		227
Gains (losses) on investment securities, net	(179)		197		158
Fund management fees and other noninterest income	54		68		62
General and administrative expenses	(284)		(298)		(121)
Income tax benefit (expense)	143		(212)		(146)
Income before net income of subsidiaries	84		264		211
Equity in undistributed net income of bank subsidiary	1,741		1,294		776
Equity in undistributed net income (loss) of nonbank subsidiaries	(153)		275		221
Net income before preferred stock dividend	$	1,672	$	1,833	$	1,208
Preferred stock dividends	(163)		(63)		(17)
Net income available to common stockholders	$	1,509	$	1,770	$	1,191

Condensed Statements of Comprehensive Income

	Year ended December 31,
(Dollars in millions)	2022		2021		2020
Net income before preferred stock dividend	$	1,672	$	1,833	$	1,208
Other comprehensive income (loss), net of tax:
Foreign currency translation gains (losses)	(37)		(1)		12
Changes in unrealized holding gains (losses) on AFS securities	(39)		(3)		—
Changes in fair value on bank cash flow hedges, net of reclassification adjustments in bank net income	(6)		(46)		131
Equity in other comprehensive income (loss) of bank and nonbank subsidiaries	(1,883)		(341)		395
Other comprehensive income (loss), net of tax	(1,965)		(391)		538
Total comprehensive income	$	(293)	$	1,442	$	1,746

Condensed Statements of Cash Flows

	Year ended December 31,
(Dollars in millions)	2022		2021		2020
Cash flows from operating activities:
Net income before preferred stock dividend	$	1,672	$	1,833	$	1,208
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Gains on equity warrant assets, net	(146)		(554)		(227)
Gains (losses) on investment securities, net	179		(197)		(158)
Gains on derivatives, net	—		—		(30)
Distributions of earnings from investment securities	33		60		65
Net income of bank subsidiary	(2,035)		(1,294)		(826)
Net income (loss) on nonbank subsidiaries	153		(275)		(221)
Cash dividends from bank subsidiary	294		—		50
Amortization of share-based compensation	183		136		84
(Increase) decrease in other assets	35		(40)		17
Increase (decrease) in other liabilities	(129)		58		99
Other, net	1		2		14
Net cash provided by (used for) operating activities	240		(271)		75
Cash flows from investing activities:
Net decrease in investment securities from purchases, sales and maturities	49		533		123
Net decrease in loans	—		—		15
Increase in investment in bank subsidiary	(773)		(1,240)		(69)
Capital infusion in bank subsidiary	—		(5,750)		(700)
(Increase) decrease in investment in nonbank subsidiaries	(192)		47		4
Business acquisitions	—		1,081		(27)
Net cash used for investing activities	(916)		(5,329)		(654)
Cash flows from financing activities:
Proceeds from issuance long-term debt	795		1,636		495
Proceeds from the issuance of common stock, net	(22)		2,374		31
Net proceeds from the issuance of preferred stock	—		3,306		—
Payment of preferred stock dividends	(163)		(63)		(17)
Common stock repurchase	—		—		(60)
Net cash provided by financing activities	610		7,253		449
Net increase (decrease) in cash and cash equivalents	(66)		1,653		(130)
Cash and cash equivalents at beginning of period	2,324		671		801
Cash and cash equivalents at end of period	$	2,258	$	2,324	$	671