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SVB Financial's NPAs climb in Q2

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SVB Financial's NPAs climb in Q2

Santa Clara, Calif.-based SVBFinancial Group on July 21 reported second-quarter net income availableto common stockholders of $93.0 million, or $1.78 per share, compared to $86.1 million,or $1.66 per share, for the second quarter of 2015.

The S&P Capital IQ consensus mean estimate for normalizedEPS for the period was $1.70.

Total nonperforming assets were $124.7 million, compared to $114.0million in the previous quarter and $100.8 million in the year-earlier quarter.

Net interest margin for the period was 2.73%, compared to 2.67%for the previous period and 2.58% for the year-ago period.

The company's net charge-offs as a percentage of average totalgross loans on an annualized basis were 0.43%, compared to 0.49% in the previousquarter and 0.05% in the same period a year ago. The quarter's allowancefor loan losses was $244.7 million, compared to $230.2 million at the end of theprevious period and $192.6 million a year ago.

The company also recorded gains on investment securities of $23.3million, compared to losses of $4.7 million for the first quarter of 2016.

SVB Financial's provision for loan losses was $36.3 million,compared to $33.3 million in the linked quarter and $26.5 million in the year-agoquarter.