SVB Financial Group said Thursday that fourth-quarter net income rose 10.9% from a year earlier, to $28.4 million.
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Earnings per share rose 9 cents, to 77 cents, or 6 cents above the average estimate of analysts, according to Thomson Financial.
Full-year net income fell 3.4%, to $89.4 million, and earnings per share fell 2 cents, to $2.38. The results included a $10.4 million tax charge related to the impairment of goodwill, SVB said.
The $6 billion-asset Santa Clara, Calif., banking company said it expects growth in loans and client funds to slow this quarter. It also expects to earn 63 to 69 cents a share this quarter, versus operating earnings of 62 cents a year earlier.
