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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
April 29
First-quarter earnings at SVB Financial Group in Santa Clara, Calif., nearly doubled from a year earlier, to $33 million, largely because of a release of loan-loss reserves.
The $18.62 billion-asset company had a profit of $17.5 million in the fourth quarter and a profit of $18.6 million a year earlier. The first quarter featured a $3 million reserve release compared with a $15.5 million loan-loss provision a quarter earlier. The results were announced Thursday.
Net interest income rose 15% from the fourth quarter and 19% year over year, to $120.3 million, in part because of higher investment yields. Total loans rose 2.3% from the fourth quarter and 34% year over year, to $5.6 billion. SVB also said its Silicon Valley Bank would buy back $500 million in senior and subordinated debt with cash. The repurchase expires May 2.
