SVB FINANCIAL : ANNOUNCES 2016 FIRST QUARTER FINANCIAL RESULTS

Q1'16 Earnings Release_Exhibit 99.1 Exhibit 99.1‌‌‌‌‌‌‌‌

3003 Tasman Drive, Santa Clara, CA 95054 Contact:

www.svb.com Meghan O'Leary

Investor Relations

For release at 1:00 P.M. (Pacific Time) (408) 654-6364

April 21, 2016 NASDAQ: SIVB

SVB FINANCIAL GROUP ANNOUNCES 2016 FIRST QUARTER FINANCIAL RESULTS

SANTA CLARA, Calif. - April 21, 2016 - SVB Financial Group (NASDAQ: SIVB) today announced financial results for the first quarter ended March 31, 2016.

Consolidated net income available to common stockholders for the first quarter of 2016 was $79.2 million, or $1.52 per diluted common share, compared to $87.5 million, or $1.68 per diluted common share, for the fourth quarter of 2015, and $88.5 million, or $1.71 per diluted common share, for the first quarter of 2015.

"Our core business remained healthy in the first quarter, with outstanding loan growth and solid core fee income," said Greg Becker, President and CEO of SVB Financial Group. "Credit overall remained sound, although softness in the VC markets pressured our early-stage loan portfolio and drove lower warrant and VC-related investment gains."

Highlights of our first quarter 2016 results (compared to fourth quarter 2015, unless otherwise noted) included:

• Average loan balances of $17.0 billion, an increase of $1.3 billion (or 8.0 percent).

• Average investment securities, excluding non-marketable and other securities, of $23.4 billion, a decrease of $0.1 billion (or 1.0 percent).

• Average total client funds (consisting of both on-balance sheet deposits and off-balance sheet client investment funds) of $81.7 billion, a decrease of $0.6 billion (or 1.0 percent) with average off-balance sheet client investment funds decreasing by $1.0 billion (or 2.2 percent), offset by average on-balance sheet deposits increasing by $0.4 billion (or 1.0 percent).

• Net interest income (fully taxable equivalent basis) of $281.7 million, an increase of $12.3 million (or 4.6 percent).

• Net interest margin of 2.67 percent, an increase of 13 basis points.

• Provision for loan losses of $33.3 million, compared to $31.3 million.

• Losses on investment securities of $4.7 million, compared to gains of $12.4 million. Non-GAAP losses on investment securities, net of noncontrolling interests, were $2.0 million, compared to gains of $9.6 million. (See non-GAAP reconciliation under the section "Use of Non-GAAP Financial Measures".)

• Gains on equity warrant assets of $6.6 million, compared to $16.4 million.

• Non-GAAP core fee income increased $3.8 million (or 5.2 percent) to $76.5 million. (See non-GAAP reconciliation under the section "Use of Non-GAAP Financial Measures".)

• Noninterest expense of $204.0 million, a decrease of $4.6 million (or 2.1 percent).

First Quarter 2016 Summary

Three months ended
(Dollars in millions, except share data, employees and ratios)	March 31, 2016	December 31, 2015	September 30, 2015	June 30, 2015	March 31, 2015
Income statement:
Diluted earnings per common share	$ 1.52	$ 1.68	$ 1.57	$ 1.66	$ 1.71
Net income available to common stockholders	79.2	87.5	81.7	86.1	88.5
Net interest income	281.4	269.1	254.7	243.8	238.9
Provision for loan losses	33.3	31.3	33.4	26.5	6.5
Noninterest income (1)	86.1	114.5	108.5	126.3	123.5
Noninterest expense (1)	204.0	208.6	184.8	194.1	190.5
Non-GAAP core fee income (2)	76.5	72.7	68.4	66.1	58.2
Non-GAAP noninterest income, net of noncontrolling interests (1) (2)	88.8	111.8	102.1	117.7	109.4
Non-GAAP noninterest expense, net of noncontrolling interests (1) (2)	204.1	208.4	184.6	193.9	190.2
Fully taxable equivalent:
Net interest income (3)	$ 281.7	$ 269.4	$ 255.0	$ 244.2	$ 239.3
Net interest margin	2.67%	2.54%	2.50%	2.58%	2.65%
Balance sheet:
Average total assets (1)	$ 44,190.2	$ 43,634.8	$ 42,014.2	$ 39,442.8	$ 38,221.3
Average loans, net of unearned income (1)	17,012.4	15,745.6	14,916.7	14,320.9	14,048.3
Average available-for-sale securities	14,692.6	15,314.8	15,035.1	13,797.7	13,571.2
Average held-to-maturity securities	8,658.7	8,220.5	7,879.0	7,639.8	7,569.8
Average noninterest-bearing demand deposits (1)	31,219.5	30,531.1	28,791.7	26,723.3	25,173.4
Average interest-bearing deposits	8,048.6	8,373.6	8,591.3	8,232.7	8,688.8
Average total deposits (1)	39,268.1	38,904.7	37,383.1	34,956.1	33,862.2
Average long-term debt	796.7	797.1	797.3	797.6	690.0
Period-end total assets (1)	43,573.9	44,686.7	41,731.0	40,231.0	38,606.6
Period-end loans, net of unearned income (1)	17,735.1	16,742.1	15,314.6	14,261.4	14,447.7
Period-end available-for-sale securities	14,327.1	16,380.7	15,307.7	14,495.8	13,746.9
Period-end held-to-maturity securities	8,548.2	8,791.0	8,306.5	7,735.9	7,816.8
Period-end non-marketable and other securities (1)	668.5	674.9	650.6	645.5	664.4
Period-end noninterest-bearing demand deposits (1)	30,933.3	30,867.5	28,659.0	27,734.7	25,796.1
Period-end interest-bearing deposits	7,826.5	8,275.3	8,390.5	7,892.2	8,135.0
Period-end total deposits (1)	38,759.7	39,142.8	37,049.4	35,627.0	33,931.1
Off-balance sheet:
Average client investment funds	$ 42,471.6	$ 43,436.2	$ 41,972.9	$ 37,869.5	$ 33,625.1
Period-end client investment funds	42,273.5	43,991.7	43,566.7	40,084.5	35,169.8
Total unfunded credit commitments	15,880.2	15,614.4	16,087.3	15,808.2	15,485.5
Earnings ratios:
Return on average assets (annualized) (1) (4)	0.72%	0.80%	0.77%	0.88%	0.94%
Return on average SVBFG stockholders' equity (annualized) (5)	9.58	10.74	10.35	11.40	12.38
Asset quality ratios:
Allowance for loan losses as a % of total gross loans	1.29%	1.29%	1.28%	1.34%	1.15%
Allowance for loan losses for performing loans as a % of total gross performing loans	1.01	0.99	0.99	0.99	0.99
Gross charge-offs as a % of average total gross loans (annualized)	0.61	0.29	0.77	0.13	0.16
Net charge-offs as a % of average total gross loans (annualized)	0.49	0.28	0.75	0.05	0.11
Other ratios:
GAAP operating efficiency ratio (1) (6)	55.51%	54.39%	50.88%	52.45%	52.57%
Non-GAAP operating efficiency ratio (1) (2)	55.09	54.67	51.69	53.57	54.56
SVBFG CET 1 risk-based capital ratio (1)	12.38	12.28	12.48	12.54	11.92
Bank CET 1 risk-based capital ratio	12.57	12.52	12.79	12.87	12.36
SVBFG total risk-based capital ratio (1)	13.90	13.84	14.05	14.15	13.46
Bank total risk-based capital ratio	13.66	13.60	13.85	13.93	13.35
SVBFG tier 1 leverage ratio (1)	7.69	7.63	7.67	7.95	7.92
Bank tier 1 leverage ratio	7.19	7.09	7.13	7.39	7.43
Period-end loans, net of unearned income, to deposits ratio (1)	45.76	42.77	41.34	40.03	42.58
Average loans, net of unearned income, to average deposits ratio	43.32	40.47	39.90	40.97	41.49
Book value per common share (7)	$ 65.40	$ 61.97	$ 61.66	$ 59.29	$ 58.16
Other statistics:
Average full-time equivalent employees	2,160	2,073	2,030	1,959	1,955
Period-end full-time equivalent employees	2,170	2,089	2,054	1,964	1,965

1. Amounts and ratios as of and for the three months ended March 31, 2015 have been revised to reflect the retrospective application of new accounting guidance adopted in the second quarter of 2015 related to our consolidated variable interest entities (ASU 2015-02).

2. To supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles in the United States ("GAAP"), we use certain non-GAAP measures. A reconciliation of these non-GAAP measures to GAAP is provided at the end of this release under the section "Use of Non-GAAP Financial Measures."

3. Interest income on non-taxable investments is presented on a fully taxable equivalent basis using the federal statutory income tax rate of 35.0 percent. The taxable equivalent adjustments were $0.3 million for the quarter ended March 31, 2016 and $0.4 million for each of the quarters ended December 31, 2015, September 30, 2015, June 30, 2015, and March 31, 2015.

4. Ratio represents annualized consolidated net income available to common stockholders divided by quarterly average assets.

5. Ratio represents annualized consolidated net income available to common stockholders divided by quarterly average SVBFG stockholders' equity.

6. Ratio is calculated by dividing noninterest expense by total net interest income plus noninterest income.

7. Book value per common share is calculated by dividing total SVBFG stockholders' equity by total outstanding common shares.

   Net Interest Income and Margin

   Net interest income, on a fully taxable equivalent basis, was $281.7 million for the first quarter of 2016, compared to

   $269.4 million for the fourth quarter of 2015 and $239.3 million for the first quarter of 2015. The following table provides a summary of changes in interest income and interest expense attributable to both volume and rate from the fourth quarter of 2015 to the first quarter of 2016. Changes that are not solely due to either volume or rate (principally changes in the number of days from quarter to quarter) are allocated in proportion to the percentage changes in average volume and average rate:

   (Dollars in thousands)	Volume	Rate	Total
   Interest income:
   Short-term investment securities	$ (678)	$ 752	$ 74
   AFS / HTM fixed income investment securities	(624)	389	(235)
   Loans	12,276	265	12,541
   Increase in interest income, net	10,974	1,406	12,380
   Interest expense:
   Deposits	(54)	78	24
   Short-term borrowings	26	2	28
   Long-term debt	-	22	22
   Increase (decrease) in interest expense, net	(28)	102	74
   Increase in net interest income	$ 11,002	$ 1,304	$ 12,306

   Q1'16 compared to Q4'15 Increase (decrease) due to change in

   The increase in net interest income, on a fully taxable equivalent basis, from the fourth quarter of 2015 to the first quarter of 2016, was attributable primarily to the following:

   • An increase in interest income from loans of $12.5 million to $197.9 million for the first quarter of 2016. The increase was reflective primarily of a $1.3 billion increase in average loan balances as well as an increase in loan yields, offset by one less day in the quarter (compared to the fourth quarter of 2015). Our gross loan yields increased 8 basis points, offset by a decline of 7 basis points in our loan fee yields, resulting in an overall loan yield increase of 1 basis point to 4.68 percent. The increase in our gross loan yields is reflective primarily of the full quarter impact of the 25 basis point increase in the target federal funds rate by the Federal Reserve in December 2015. Loan fee yields decreased as a result of lower nonrecurring fee income and lower income from early payoffs during the first quarter.

Net interest margin, on a fully taxable equivalent basis, was 2.67 percent for the first quarter of 2016, compared to

2.54 percent for the fourth quarter of 2015 and 2.65 percent for the first quarter of 2015. Our net interest margin increased due to a shift in the mix of our interest earning assets towards our higher yielding loan portfolio. Average loans represented 40 percent of interest earning assets for the first quarter of 2016 compared to 37 percent for the fourth quarter of 2015. The shift was a result of using our cash and fixed income investment portfolio to fund loan growth during the quarter. Additionally, the increase in our gross loan yield benefited from the full-quarter impact of the target federal funds rate increase as noted above.

For the first quarter of 2016, 85.7 percent, or $14.9 billion, of our average outstanding gross loans were variable-rate loans that adjust at prescribed measurement dates upon a change in prime-lending rates or other variable-rate indices. This compares to 84.8 percent, or $13.7 billion, for the fourth quarter of 2015, and 83.0 percent, or $11.8 billion, for the first quarter of 2015.

Investment Securities

Our investment securities portfolio consists of: (i) an available-for-sale ("AFS") portfolio and a held-to-maturity ("HTM") portfolio, both of which represent primarily interest-earning fixed income investment securities and are managed to earn an appropriate portfolio yield over the long-term while maintaining sufficient liquidity and credit diversification as well as addressing our asset/liability management objectives; and (ii) a non-marketable and other securities portfolio, which represents primarily investments managed as part of our funds management business. Our total period-end fixed income investment securities portfolio decreased by $2.3 billion, or 9.1 percent, to $22.9 billion at March 31, 2016. During the quarter, to support loan growth and the liquidity needs of the Bank, we sold approximately $1.9 billion of our U.S. Treasury securities in our AFS portfolio. The duration of our fixed income investment securities portfolio was 2.6 years and 2.7 years for March 31, 2016 and December 31, 2015, respectively. Non-marketable and other securities decreased by $6.4 million to $668.5 million ($545.3 million net of noncontrolling interests) at March 31, 2016.

Available-for-Sale Securities

Average AFS securities were $14.7 billion for the first quarter of 2016, compared to $15.3 billion for the fourth quarter of 2015, a decrease of $0.6 billion. Average AFS securities were $13.6 billion for the first quarter of 2015. Period-end AFS securities were $14.3 billion at March 31, 2016, $16.4 billion at December 31, 2015 and $13.7 billion at March 31, 2015. The decrease in period-end AFS securities balances from the fourth quarter of 2015 to the first quarter of 2016 was primarily due to the $1.9 billion sale of U.S. Treasury securities as noted above. Additionally, the portfolio decreased due to paydowns and maturities of $364 million. A decrease in market interest rates at period-end increased the fair value of our AFS securities portfolio by $170.8 million. The $170.8 million increase in fair value is reflected as a $101.3 million (net of tax) increase in accumulated other comprehensive income. The duration of our AFS securities portfolio was 2.4 years at both March 31, 2016 and December 31, 2015.

Held-to-Maturity Securities

Average HTM securities were $8.7 billion for the first quarter of 2016, compared to $8.2 billion for the fourth quarter of 2015, reflecting an increase of $0.5 billion. Average HTM securities were $7.6 billion for the first quarter of 2015. Period-end HTM securities were $8.5 billion at March 31, 2016, $8.8 billion at December 31, 2015 and $7.8 billion at March 31, 2015. For the three months ending March 31, 2016, we made purchases of $116 million primarily in agency backed mortgage securities, which were offset by paydowns and maturities of $352 million. The duration of our HTM securities portfolio was 2.8 years and 3.2 years at March 31, 2016 and December 31, 2015, respectively.

Non-Marketable and Other Securities

Our non-marketable and other securities portfolio represents primarily investments in venture capital and private equity funds, debt funds and private and public portfolio companies.

Non-marketable and other securities decreased by $6.4 million to $668.5 million ($545.3 million net of noncontrolling interests) at March 31, 2016, compared to $674.9 million ($548.6 million net of noncontrolling interests) at December 31, 2015 and $664.4 million ($534.5 million net of noncontrolling interests) at March 31, 2015. The $6.4 million decrease was primarily due to the decrease in market prices of companies held by the fund investments in our managed funds of funds portfolio. Reconciliations of our non-GAAP non-marketable and other securities, net of noncontrolling interests, are provided under the section "Use of Non-GAAP Financial Measures."

Loans

Average loans (net of unearned income) increased by $1.3 billion to $17.0 billion for the first quarter of 2016, compared to $15.7 billion for the fourth quarter of 2015 and $14.0 billion for the first quarter of 2015. Period-end loans (net of unearned income) increased by $1.0 billion to $17.7 billion at March 31, 2016, compared to $16.7 billion at December 31, 2015 and $14.4 billion at March 31, 2015. Period-end and average loan growth came primarily from our private equity/venture capital loan portfolio as well as from our Private Bank portfolio.