IBOS member Silicon Valley Bank (SVB) has announced its financial results for Q4 2018 and year ended 31 December, 2018.
SVB reported that consolidated net income available to common stockholders for Q4 2018 was $266.3 million ($4.96 per diluted common share), compared to $274.8 million ($5.10 per diluted common share) for Q3 2018 and $117.2 million ($2.19 per diluted common share) for the Q4 2017.
Consolidated net income available to common stockholders for the year ended 31December, 2018 was $973.8 million compared to $490.5 million for the comparable 2017 period.
Below are SVB’s highlights for Q4 2018 (compared to Q3 2018):
- Average loan balances of $27.5 billion, an increase of $1.2 billion (or 4.4%)
- Period-end loan balances of $28.3 billion, an increase of $0.8 billion (or 3.1%)
- Average total client funds (on-balance sheet deposits and off-balance sheet client investment funds) increased $5.5 billion (or 4.3%) to $134.1 billion
- Period-end total client funds increased $4.6 billion (or 3.5%) to $135.3 billion
- Net interest income (fully taxable equivalent basis) of $517.4 million, an increase of $21.3 million (or 4.3%)
- Effective tax rate of 28.3% compared to 25.8%
Read the full press release via SVB here.