Silicon Valley Bank Results Presentation Deck
Outsized warrant and investment gains from strong exits and valuations
Gains will fluctuate with changes in valuation and market conditions
●
Q4'20 activity
Robust client IPO, SPAC and M&A activity and improved valuations drove
strong warrant and investment gains
Q4 investment gains included $21.7M net losses from decline in BIGC
stock price¹
WARRANT AND INVESTMENT GAINS
NET OF NCI²
$ Millions
Warrant gains
Investment
Securities gains
svb>
47.2
30.9
16.3
61.0
13.4
47.6
Q4'19 Q1'20
47.0
26.5
20.5
215.8
53.8
162.0
247.9
143.8
104.1
Q2'20 Q3'20 Q4'20
●
FY'21 key drivers
Shifting conditions may create volatility for marketsensitive
revenues:
+
$ Millions
Warrants
Valuations of warrants and non-marketable
and other equity securities
Will fluctuate with market conditions, but offer meaningful
long-term earnings support
Non-marketable
and other equity
securities³
+-
+
+
165.5 152.7 171.1
606.5
555.5 590.4
202.2
Q4'19 Q1'20 Q2'20 Q3'20 Q4'20
Unrealized fixed income gains
Potential source of earnings support4
818.1
Carried interest from 14M Root, Inc. shares
held by SVB Capital funds
1. Unrealized gains related to BIGCommerce, Inc. ("BIGC") or Root, Inc. common stock are subject to these companies' stock price
market conditions and other factors and will not be realized until shares are sold. Timing of sales, if any, is subject to marke
conditions and other factors.
203.4
Estimate $24.8M pretax gains from carried interest, subject
to funds' performance¹
2. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our noRGAAP
reconciliations at the end of this presentation.
972.6
Expiring BIGC lock-up agreements
On 2/11/21; realization of gains dependent on sale of BIGC
position (2.4M shares)¹
3. Net of investments in qualified affordable housing projects and noncontrolling interests.
4. Consists of $668M unrealized pretax gains in the availablefor-sale portfolio and $624M unrealized pretax gains in the held-to-
maturity portfolio as of December 31, 2020. Amounts actually realized are subject to various factors and may differ from
unrealized amounts.
Q4 2020 Financial Highlights
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