SVB Financial Group Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending December 31, 2017; Provides Net Loan Charge-Offs Guidance for the Fiscal Year Ending December 31, 2017
Consolidated net income available to common stockholders for the year ended December 31, 2016 was $382.7 million, or $7.31 per diluted common share, compared to $343.9 million, or $6.62 per diluted common share, for the comparable 2015 period. Net interest income was $1,150.5 million against $1,006.4 million a year ago. Return on average assets was 0.87% against 0.84% a year ago. Return on average equity was 10.9% against 11.18% a year ago. Book value per common share was $69.71 against $61.97 a year ago.
For the fiscal year ending December 31, 2017, the company expects net interest income to increase at a percentage rate in the low teens. The company expects effective tax rate going forward to remain in the 40% range.
For the fiscal year ending December 31, 2017, the company expects net loan charge-offs between 0.30% and 0.50% of average total gross loans.