Silicon Valley Bank Results Presentation Deck
Glossary
The following terms are used throughout this presentation to refer to certain SVB-specific metrics:
Non-GAAP Measures
(Please see "Use of non-GAAP Financial Measures” in our Q1 2021 Earnings Release and non-GAAP reconciliations at the end of this presentation)
Core Fee Income - Fees from letters of credit, client investments, credit cards, deposit service charges, foreign exchange and lending related fees,
in aggregate.
Core Fee Income plus SVB Leerink Revenue - Core fee income, from above, plus investment banking revenue and commissions.
SVB Leerink Revenue and Expenses - SVB Leerink revenue defined as investment banking revenue and commissions and excludes other income
earned by SVB Leerink. SVB Leerink expenses represents all SVB Leerink operating and acquisition related expenses.
Core Operating Efficiency Ratio - Calculated by dividing noninterest expense after adjusting for noninterest expense from SVB Leerink and NCI by
total revenue, after adjusting for gains or losses on investment securities and equity warrant assets, SVB Leerink revenue and NCI. This ratio
excludes income and expenses related to SVB Leerink and certain financial items where performance is typically subject to market or other
conditions beyond our control.
Gains (losses) on Investment Securities, Net of Non-Controlling Interests - Net gains on investment securities include gains and losses from our
non-marketable and other equity securities, which include public equity securities held as a result of exercised equity warrant assets, gains and
losses from sales of our Available-For-Sale debt securities portfolio, when applicable, and carried interest. This measure excludes amounts
attributable to noncontrolling interests for which we effectively do not receive the economic benefit or cost.
Note regarding Q1'21 expectations presented and non-GAAP measures - Non-GAAP Core Fee Income and SVB Leerink Revenue collectively
represent noninterest income, but exclude certain line items where performance is typically subject to market or other conditions beyond our
control. Non-GAAP Noninterest Expense represents noninterest expense, but excludes expenses attributable to noncontrolling interests. As we are
unable to quantify such line items that would be required to be included in the comparable GAAP financial measure for the future period presented
without unreasonable efforts, no reconciliation for the outlook of these non-GAAP measures to the comparable GAAP financial measures for Q1'21
is included in this presentation, as we believe such reconciliation would imply a degree of precision that would be confusing or misleading to
investors.
Other Measures
Total Client Funds - The sum of on-balance sheet deposits and off-balance sheet client investment funds.
Fixed Income Securities - Available-for-sale ("AFS") and held-to-maturity ("HTM") securities held on the balance sheet.
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Q1 2021 Financial Highlights
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