California-based SVB Financial Group (SIVB) announced earnings Thursday of $58.8 million for the fourth quarter of 2013, a 16.7% increase from the same quarter in 2012.

Earnings of $1.27 per share crushed the estimates of analysts polled by Bloomberg by more than 26 cents for the $26.4 billion-asset company from Santa Clara, Calif. An increase in average loan balance of 6.2% or $600 million from the third quarter of 2013, and an increase in average total client funds of 7.2%, to $47.7 billion, helped to fuel the earnings growth.

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