SVB Financial Group Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2012; Announces Net Charge-Offs for the Fourth Quarter Ended December 31, 2012
For the year, the company reported total interest income of $648,718,000 against $565,388,000 a year ago. Net interest income was $617,864,000 against $526,277,000 a year ago. Net interest income after provision for loan losses was $573,534,000 against $520,176,000 a year ago. Income before income tax expense was $363,082,000 against $401,880,000 a year ago. Net income available to common stockholders was $175,103,000 or $3.91 per diluted share against $171,902,000 or $3.94 per diluted share a year ago. Non-GAAP net income was $169,600,000 or $3.79 per diluted share against $147,500,000 or $3.38 per diluted share a year ago. Return on average assets (annualized) was 0.82% against 0.92% a year ago. Non-GAAP return on average assets was 0.80% against 0.79% a year ago. Return on average common company shareholders equity (annualized) was 10.09% against 11.87% a year ago. Non-GAAP return on average company stockholders' equity (annualized) was 9.77% against 10.18% a year ago.
The company announced net charge-offs of $5.9 million for the fourth quarter ended December 31, 2012 compared to $3.4 million in the third quarter of 2012.