SVB Financial shows $703,479 operating loss for February

By Sarah Lizee

Olympia, Wash., March 22 – SVB Financial Group posted a $703,479 operating loss on $854,100 total income for February, according to its monthly operating reported filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

To compare, the company reported a $572,598 operating loss on $971,580 total income for January.

The net income for February was $15.65 million, compared to a net loss for January of $10.42 million.

The cash balance at the end of February was $224.26 million, down from $256.53 million at the end of January.

The financial services and bank holding company is based in Santa Clara, Calif. The company filed bankruptcy on March 17, 2023 under Chapter 11 case number 23-10367.

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