SIVB » Topics » 9. Premises and Equipment

This excerpt taken from the SIVB 8-K filed Nov 16, 2009.

9. Premises and Equipment

Premises and equipment at December 31, 2008 and 2007, consist of the following:

 

     December 31,  

(Dollars in thousands)

   2008     2007  

Computer software

   $ 43,729      $ 39,015   

Leasehold improvements

     25,893        32,616   

Computer hardware

     25,829        24,232   

Furniture and equipment

     9,153        9,289   
                

Total

     104,604        105,152   

Accumulated depreciation and amortization

     (74,015     (66,524
                

Premises and equipment, net

   $ 30,589      $ 38,628   
                

Depreciation and amortization expense for premises and equipment was $15.7 million, $15.0 million, and $11.1 million in 2008, 2007, and 2006, respectively.

These excerpts taken from the SIVB 10-K filed Mar 2, 2009.

Premises and Equipment

Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

 

Leasehold improvements

   Lesser of lease term or asset life

Furniture and equipment

   3 years

Computer software

   3-5 years

Computer hardware

   3 years

We capitalize the costs of computer software developed or obtained for internal use in accordance with the provisions of SOP 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use (“SOP 98-1”). Capitalized computer software costs consist of developed software, purchased software licenses and certain implementation costs.

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. We had no capitalized lease obligations at December 31, 2008 and 2007.

Premises and Equipment

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the
straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 
























Leasehold improvements

  Lesser of lease term or asset life

Furniture and equipment

  3 years

Computer software

  3-5 years

Computer hardware

  3 years

We capitalize the costs of computer software developed or obtained for internal use in accordance
with the provisions of SOP 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use (“SOP 98-1”). Capitalized computer software costs consist of developed software, purchased software licenses and
certain implementation costs.

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated
depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. We had no capitalized lease obligations at December 31, 2008 and 2007.

STYLE="margin-top:12px;margin-bottom:0px">Lease Obligations

We lease all of our
properties. It is our policy to evaluate and record leases in accordance with the provisions of SFAS No. 13, Accounting for Leases, (“SFAS No. 13”) and Financial Accounting Standards Board Technical Bulletin
No. 88-1, Issues Related to Accounting for Leases, (“FTB No. 88-1”).

At the inception of the lease, each
property is evaluated under SFAS No. 13 to determine whether the lease will be accounted for as an operating or capital lease. We do not have any capital leases. For leases that contain rent escalations or landlord incentives, we record the
total rent payable during the lease term, as determined above, using the straight-line method over the term of the lease and record the difference between the minimum rents paid and the straight-line rent as lease obligations in accordance with FTB
No. 88-1.

These excerpts taken from the SIVB 10-K filed Feb 29, 2008.

Premises and Equipment

Premises and
equipment expense totaled $19.8 million in 2007, compared to $15.3 million in 2006 and $12.8 million in 2005. The increase in 2007 was primarily related to depreciation of new IT systems, office relocations and from the write-off of
an IT loan fee amortization system. The increase in 2006 was primarily related to the opening of our administrative facility in Salt Lake City, office relocations and IT initiatives.

FACE="Times New Roman" SIZE="2">Impairment of Goodwill

In connection with our annual assessment of goodwill of SVB Alliant in the
second quarters of 2007 and 2006, we recognized impairment charges of $17.2 million and $18.4 million, respectively, due to impairment of goodwill. The impairment resulted from changes in our outlook for SVB Alliant’s future financial
performance. At December 31, 2007, no goodwill remained in SVB Alliant. In July 2007, we reached a decision to cease operations at SVB Alliant.

 

STYLE="margin-top:6px;margin-bottom:0px">Business Development and Travel Expense

Business
development and travel expense totaled $12.3 million in 2007, compared to $12.8 million in 2006 and $10.6 million in 2005. The increase of $2.2 million in 2006 was attributable to an increase in business development by all of our
business units.

Premises and Equipment

Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

 

Leasehold improvements

   Lesser of lease term or asset life

Furniture and equipment

   3 years

Computer software

   3-5 years

Computer hardware

   3 years

We capitalize the costs of computer software developed or obtained for internal use in accordance with the provisions of SOP 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use (“SOP 98-1”). Capitalized computer software costs consist of developed software, purchased software licenses and certain implementation costs.

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. We had no capitalized lease obligations at December 31, 2007 and 2006.

This excerpt taken from the SIVB 10-K filed Mar 1, 2007.

Premises and Equipment

Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

Leasehold improvements

 

10 years

 

Furniture and equipment

 

3 years

 

Computer software

 

3 years

 

Computer hardware

 

3 years

 

 

We capitalize the costs of computer software developed or obtained for internal use in accordance with the provisions of SOP 98-1, Accounting for Costs of Computer Software Developed or Obtained for Internal Use (“SOP 98-1”). Capitalized computer software costs consist of developed software, purchased software licenses and implementation costs.

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. We had no capitalized lease obligations at December 31, 2006 and 2005.

This excerpt taken from the SIVB 10-K filed Mar 27, 2006.

Premises and Equipment

Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

Leasehold improvements

 

10 years

Furniture and equipment

 

3 years

Computer software

 

3 years

Computer hardware

 

3 years

Vehicles

 

3 years

 

We capitalize the costs of computer software developed or obtained for internal use in accordance with the provisions of SOP 98-1, “Accounting for Costs of Computer Software Developed or Obtained for Internal Use.” Capitalized computer software costs consist of developed software, purchased software licenses and implementation costs.

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. We had no capitalized lease obligations at December 31, 2005 and 2004.

This excerpt taken from the SIVB 10-K filed Dec 30, 2005.

Premises and Equipment

 

Premises and equipment are reported at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the terms of the related leases, whichever is shorter. The maximum estimated useful lives by asset classification are as follows:

 

Leasehold improvements

 

10 years

 

Furniture and equipment

 

3 years

 

Computer software

 

3 years

 

Computer hardware

 

3 years

 

Vehicles

 

3 years

 

 

The Company capitalizes the costs of computer software developed or obtained for internal use in accordance to SOP 98-1, “Accounting for Costs of Computer Software Developed or Obtained for Internal Use.” Capitalized computer software costs consist of developed software, purchased software licenses and implementation costs. Costs capitalized at December 31, 2004 and 2003, amounted to $4.4 million and $2.8 million, respectively. Depreciation expense for computer software developed or obtained for internal use was $3.9 million, $3.2 million and $3.5 million for the years ended December 31, 2004, 2003, and 2002, respectively.

 

98



 

For property and equipment that is retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and the resulting gain or loss is included in noninterest expense in consolidated net income. The Company had no capitalized lease obligations at December 31, 2004 and 2003.

 

This excerpt taken from the SIVB 10-K filed Mar 16, 2005.
9.   Premises and Equipment

Premises and equipment at December 31, 2004 and 2003, consist of the following:

 

 

December 31,

 

 

 

2004

 

2003

 

 

 

(Dollars in thousands)

 

Cost:

 

 

 

 

 

Computer software

 

$

19,581

 

$

15,162

 

Leasehold improvements

 

18,145

 

17,716

 

Computer hardware

 

10,174

 

7,807

 

Furniture and equipment

 

5,172

 

3,966

 

Total cost

 

53,072

 

44,651

 

Accumulated depreciation and amortization

 

(38,121

)

(29,652

)

Premises and equipment-net

 

$

14,951

 

$

14,999

 

 

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