SVB Financial Group Annual Report

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March 12th, 2023 at 3:57:59 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
It's their annual report consisting of 193 pages (in pdf).

The download may not be there for too long, because regulators just seized the bank but one can go to an SEC site too.

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ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2022

SVB FINANCIAL GROUP

2/24/2023
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Page 6:
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As of December 31, 2022, on a consolidated basis, we had total assets of $211.8 billion, total investment securities of $120.1 billion, total loans, amortized cost, of $74.3 billion, total deposits of $173.1 billion and total SVB Financial stockholders' equity of $16.0 billion.
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Page 102:
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The Bank's joint venture bank in China (SPD-SVB), for which we have 50 percent ownership, is accounted for under the equity method.
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https://ir.svb.com/financials/annual-reports-and-proxies/default.aspx

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March 12th, 2023 at 8:03:56 AM permalink
Tanko
Member since: Aug 15, 2019
Threads: 0
Posts: 1964
Good Timing.

'SVB CEO Sold $3.6 Million in Stock Days Before Bank’s Failure'

'The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26.'
March 12th, 2023 at 8:07:19 AM permalink
kenarman
Member since: Oct 24, 2012
Threads: 14
Posts: 4470
Quote: Tanko
Good Timing.

'SVB CEO Sold $3.6 Million in Stock Days Before Bank’s Failure'

'The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26.'


Some investors are just so 'lucky' with their timing.
"but if you make yourselves sheep, the wolves will eat you." Benjamin Franklin
March 12th, 2023 at 12:47:10 PM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
The article also mentions climate change.

Elsewhere, last year, the firm committed to $5B related to climate change.

Overall, it's tough to make ends meet in business without being "woke".


If this is true, I've read MSFT was the #1 firm in being "woke".

So I'll consider placing a bear position in the firm.

But right now my trading account is indirectly flying upward in value due to this bank.

So later.

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While Silicon Valley Bank collapsed, top executive pushed ‘woke’ programs

March 11, 2023

A head of risk management at Silicon Valley Bank spent considerable time spearheading multiple “woke” LGBTQ+ programs, including a “safe space” for coming out stories, as the firm catapulted toward collapse.

Jay Ersapah, the boss of Financial Risk Management at SVB’s UK branch, launched initiatives such as the company’s first month-long Pride campaign and a new blog emphasizing mental health awareness for LGBTQ+ youth.

“The phrase ‘you can’t be what you can’t see’ resonates with me,’” Ersapah was quoted as saying on the company website.

“As a queer person of color and a first-generation immigrant from a working-class background, there were not many role models for me to ‘see’ growing up.”

Her efforts as the company’s European LGBTQIA+ Employee Resource Group co-chair earned her a spot on SVB’s “outstanding LGBT+ Role Model Lists 2022,” a list shared in a company post just four months before the bank was shut down by federal authorities over liquidity fears.
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https://nypost.com/2023/03/11/silicon-valley-bank-pushed-woke-programs-ahead-of-collapse/

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March 12th, 2023 at 12:52:01 PM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
Quote: Tanko
Good Timing.

'SVB CEO Sold $3.6 Million in Stock Days Before Bank’s Failure'

'The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26.'



Meanwhile, folks lost.

Customers are always first, not self.

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Silicon Valley Bank employees received bonuses hours before government takeover

MAR 11 2023
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Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments.
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https://www.cnbc.com/2023/03/11/silicon-valley-bank-employees-received-bonuses-hours-before-takeover.html

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March 12th, 2023 at 7:20:26 PM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
Another one bites the dust:

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WSJ: Signature Bank Is Shut by Regulators After SVB Collapse

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March 12th, 2023 at 7:34:15 PM permalink
ams288
Member since: Apr 21, 2016
Threads: 29
Posts: 12419
Quote: DoubleGold
Another one bites the dust:

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WSJ: Signature Bank Is Shut by Regulators After SVB Collapse

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Did “woke”ness cause this one too? lol
“A straight man will not go for kids.” - AZDuffman
March 13th, 2023 at 5:07:30 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
Quote: ams288
Did “woke”ness cause this one too? lol




I'll check for you and get back.

While I'm at it, I'll check FRC too, since it's tanking pre-market.


Generally, any firm that allocated billions for climate change, eventually removes it from their balance sheet.

It doesn't become important until a time the funds are needed.
March 13th, 2023 at 6:57:06 AM permalink
DoubleGold
Member since: Jan 26, 2023
Threads: 30
Posts: 2469
The larger money center banks are not in play yet.

But the same climate change principle can apply.

Allocating resources and then later on, needing the resources back to cover overhead and deposits, etc.

I'd have to look closer to see how much capital they moved so far.

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Bank of America Increases Environmental Business Initiative Target to $1 Trillion by 2030

Significant Increase from $300 Billion Target by 2030 set in 2019; Company Also Sets Broader SDG-Focused Sustainable Finance Target of $1.5 Trillion by 2030

April 8, 2021

Bank of America today announced a goal of deploying and mobilizing $1 trillion by 2030 in its Environmental Business Initiative in order to accelerate the transition to a low-carbon, sustainable economy. This commitment will anchor a broader $1.5 trillion sustainable finance goal by both environmental transition and social inclusive development purposes, spanning business activities across the globe.
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https://newsroom.bankofamerica.com/content/newsroom/press-releases/2021/04/bank-of-america-increases-environmental-business-initiative-targ.html

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Taxpayers are bailing out China also.

The way they're tricking the American public to a bailout, is through inflation (injecting more cash into the system).

There are 71 China references in this SVB depositors list in pdf (use the find command for China).

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https://s3.documentcloud.org/documents/23703871/svb-depositors.pdf

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KRE, the Regional Bank Spider ETF, was only down 12.31% today, including government actions.

Not bad.

It could have easily been down 80%.
March 13th, 2023 at 4:03:43 PM permalink
terapined
Member since: Aug 6, 2014
Threads: 73
Posts: 11786
Sometimes we live no particular way but our own - Grateful Dead "Eyes of the World"
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