SIVB - SVB Financial Q1 earnings beat amid strong credit quality client activity

SVB Financial (NASDAQ:SIVB) shares are climbing nearly 5% in afterhours trading Thursday following stronger-than-expected Q1 results, as "credit quality was pristine, and client activity remained robust," said Greg Becker, president and CEO.  Q1 EPS of $7.92 topped the average analyst estimate of $5.58 and up from $6.22 in Q4 2021, though down from $10.03 in Q1 of last year.  Q1 net interest income of $1.08B rose from $939M in Q4 2021 and $660M in the year-ago period. Net interest margin was 2.13% in Q1, up from 1.91% in the previous quarter but down from 2.29% in Q1 2021. Q1 noninterest income of $517M compared with $561M in Q4 2021 and $744M in Q1 2021.  Average loans of $67.07B in Q1 increased from $62.57B in Q4 2021 and $46.28B in Q1 a year ago. Average deposits were $190.72B in Q1 vs. $183.1B in Q4 2021 and $110.61B in Q1 2021.  Average client investment

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SVB Financial Q1 earnings beat amid strong credit quality, client activity