SVB Financial Group (SIVB) Thursday said first-quarter earnings available to common stockholders increased to $40.9 million or $0.90 per share from $34.8 million or $0.78 per share in the same period last year.
On average, 15 analysts polled by Thomson Reuters expected the company to earn $0.88 per share for the quarter. Analysts' estimates typically exclude special items.
Net-interest income improved to $163.6 million from $151.4 million last year. Net-interest margin was 3.25 percent, compared to 3.30 percent last year.
Noninterest income totaled $78.6 million, up from $59.3 million last year. Adjusted non-interest income was $56.1 million.
Provision for loan losses decreased to $5.81 million from $14.53 million last year.
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