February 16, 2025

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SVB Financial Team To Acquire Boston Personal, A Foremost Company Of Prosperity Management, Have confidence in And Banking Products and services

9 min read

SANTA CLARA, Calif. and BOSTON, Jan. 4, 2021 /PRNewswire/ — SVB Economic Group (“SVB”) (NASDAQ: SIVB), the dad or mum of Silicon Valley Bank, the financial institution of the world’s most revolutionary corporations and their investors, and Boston Private Financial Holdings, Inc. (“Boston Private”)(NASDAQ: BPFH), the guardian enterprise of Boston Non-public Financial institution & Have confidence in Enterprise, a major service provider of built-in prosperity administration, belief and banking providers to folks, households, corporations and nonprofits, now announced that they have entered into a definitive merger arrangement pursuant to which SVB will purchase Boston Personal. Mixed personal bank and wealth management belongings underneath management would be $17.7 billion, dependent on 9/30/20 figures.

Under the conditions of the merger agreement, Boston Private shareholders will receive .0228 shares of SVB popular inventory and $2.10 of income for each individual Boston Private share they have, representing a whole consideration benefit of about $900 million based on SVB’s closing stock rate of $387.83 on December 31, 2020.

SVB’s eyesight is to be the premier money husband or wife for the innovation economy, providing corporations, business people and their investors the providers they need to succeed by means of 4 main corporations: industrial banking, financial commitment banking, personal banking and wealth management and fund management. The acquisition of Boston Non-public accelerates SVB’s private lender and wealth management offering, strengthening SVB’s all round platform and ability to totally meet the economical wants of its consumers. 

“Our clientele depend on us to help raise the likelihood of their good results – both of those in their business and private lives,” stated Greg Becker, President and CEO of SVB Monetary Group. “Boston Private’s professional and well-regarded staff, strong support offering, and superior engineering platform will substantially bolster our non-public financial institution and prosperity administration capabilities and boost our capability to give solutions and companies customized to the demands of founders, executives and buyers.”

Boston Private delivers a total spectrum of prosperity, belief, and non-public banking products and services focused to aiding purchasers simplify and reinforce their financial positions. With Boston Private’s merchandise suite and lately redesigned technological innovation platform, SVB can increase its current prosperity management answers, which contain intricate tactics to manage concentrated stock positions, to include tax scheduling, have faith in products and services, philanthropy and estate arranging, though offering a significantly improved electronic client practical experience. Boston Private’s clients will gain from larger accessibility to expense alternatives and participation in the innovation economic system, as properly as the ability of SVB’s massive stability sheet to guidance their borrowing needs. &#13

“Alongside one another, SVB and Boston Private will be nicely-positioned to expand and scale our small business, leveraging SVB’s deep customer interactions and wide achieve across the innovation financial system to seize a better share of the prosperity administration market place,” claimed Anthony DeChellis, CEO of Boston Non-public. “We search ahead to performing collectively to help our clients as they pursue the aims they have for their organizations, people and legacies.”

SVB and Boston Non-public now provide purchasers in complementary main metropolitan marketplaces with an approach that has attained the two companies business-major Web Promoter Scores. 

Timing and Approvals
The transaction has been unanimously authorised by both equally companies’ Boards of Administrators and is predicted to close in mid-2021, topic to the satisfaction of customary closing problems, including receipt of customary regulatory approvals and approval by the shareholders of Boston Non-public.

Advisors
Goldman Sachs & Co. LLC acted as money advisor to SVB in the transaction. Sullivan & Cromwell LLP served as authorized counsel to SVB. Morgan Stanley & Co. LLC acted as fiscal advisor to Boston Non-public and Wachtell, Lipton, Rosen & Katz served as lawful counsel.

Trader Convention Phone Details
SVB has submitted an 8-K with the SEC that contains a duplicate of an investor presentation deck, which will also be posted on the Investor Relations segment of its web-site at svb.com. The business will keep an trader call at 2:45 p.m. Pacific Time now to talk about the announcement.&#13

Dial-in information and facts: (888) 424-8151 or (847) 585-4422, Affirmation 9380 690

Webcast and slides: Access a webcast of the phone with accompanying slides in this article or through SVB’s investor relations web page at https://ir.svb.com

Replay: A replay of the connect with will be readily available at https://ir.svb.com for 12 months.

About SVB Monetary Group
For a lot more than 35 years, SVB Fiscal Group (NASDAQ: SIVB) and its subsidiaries have helped impressive companies and their buyers move daring concepts ahead, quickly. SVB Economic Group’s businesses, including Silicon Valley Financial institution, provide commercial and personal banking, asset administration, personal prosperity administration, brokerage and expense services and resources administration expert services to providers in the technological innovation, existence science and healthcare, personal equity and enterprise money, and top quality wine industries. Headquartered in Santa Clara, California, SVB Monetary Group operates in facilities of innovation all around the earth. Study extra at svb.com.

SVB Monetary Group is the holding business for all company models and teams © 2021 SVB Fiscal Team. All legal rights reserved. SVB, SVB Money Team, SILICON VALLEY Lender, MAKE Next Happen NOW and the chevron unit are logos of SVB Fiscal Group, applied underneath license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve Procedure. Silicon Valley Bank is the California bank subsidiary of SVB Money Group. [SIVB-F]&#13

About Boston Personal
Boston Non-public is a foremost company of built-in prosperity management, trust and banking providers to folks, households, businesses and nonprofits. For additional than 30 years, Boston Non-public has sent extensive information coupled with deep complex expertise to assist shoppers simplify their life and realize their ambitions. The business provides the abilities of a significant institution with the exceptional company of a boutique firm to consumers across the United States. Boston Private is the company brand name of Boston Private Economical Holdings, Inc. (NASDAQ: BPFH). For a lot more details, check out www.bostonprivate.com.

Ahead-On the lookout Statements
This conversation consists of ahead-hunting statements inside the indicating of the Private Securities Litigation Reform Act of 1995 such as but not limited to SVB’s and/or Boston Private’s anticipations or predictions of long term fiscal or organization overall performance or situations. Ahead-hunting statements are commonly recognized by words these kinds of as “consider,” “be expecting,” “anticipate,” “intend,” “target,” “estimate,” “go on,” “positions,” “potential clients” or “probable,” by potential conditional verbs this sort of as “will,” “would,” “should really,” “could” or “may possibly”, or by variants of these words and phrases or by related expressions. These forward-wanting statements are topic to quite a few assumptions, dangers and uncertainties, which adjust more than time. Forward-wanting statements converse only as of the date they are made and we presume no responsibility to update forward-seeking statements. True outcomes may possibly differ materially from current projections. In addition to things beforehand disclosed in SVB’s and Boston Private’s experiences filed with the U.S. Securities and Trade Commission (the “SEC”) and people identified elsewhere in this doc, the following elements, between others, could lead to true results to vary materially from forward-searching statements or historical performance: skill to attain regulatory approvals and meet up with other closing conditions to the merger, which include approval by Boston Private’s shareholders on the anticipated conditions and routine hold off in closing the merger the result of any lawful proceedings that could be instituted versus SVB or Boston Non-public the incidence of any event, transform or other circumstance that could give increase to the appropriate of one or both equally get-togethers to terminate the merger agreement giving for the merger problems and delays in integrating Boston Private’s business enterprise or entirely recognizing value personal savings and other positive aspects company disruption adhering to the merger modifications in asset good quality and credit history threat the incapability to maintain revenue and earnings growth the inability to keep present Boston Personal clients the inability to retain Boston Personal staff alterations in fascination premiums and funds marketplaces inflation consumer borrowing, compensation, financial investment and deposit practices customer disintermediation the introduction, withdrawal, achievement and timing of company initiatives aggressive problems the incapability to comprehend price cost savings or revenues or to implement integration programs and other implications related with mergers, acquisitions and divestitures financial ailments the effect, extent and timing of technological modifications, cash management routines, and other actions of the Federal Reserve Board and legislative and regulatory steps and reforms and the effects of the worldwide COVID-19 pandemic on SVB’s and/or Boston Private’s organizations, the means to entire the proposed merger and/or any of the other foregoing threats. Annualized, pro forma, projected and approximated figures are used for illustrative objective only, are not forecasts and may well not replicate actual effects.

Crucial Added Facts and The place to Obtain It
In link with the proposed merger, SVB will file with the SEC a Registration Statement on Form S-4 that will contain a Proxy Statement of Boston Private and a Prospectus of SVB, as very well as other applicable files regarding the proposed transaction. The proposed merger involving Boston Personal and SVB will be submitted to Boston Private’s shareholders for their thing to consider.  This conversation does not represent an present to market or the solicitation of an supply to buy any securities or a solicitation of any vote or acceptance, nor shall there be any sale of securities in any jurisdiction in which this kind of supply, solicitation or sale would be illegal prior to registration or qualification less than the securities rules of any these types of jurisdiction. Buyers AND SHAREHOLDERS OF BOSTON Personal ARE URGED TO Browse THE REGISTRATION Statement AND THE PROXY Assertion/PROSPECTUS With regards to THE MERGER WHEN IT Gets to be Accessible AND ANY OTHER Related Files Filed WITH THE SEC, AS Very well AS ANY AMENDMENTS OR Dietary supplements TO Those people Paperwork, Mainly because THEY WILL Contain Critical Information and facts.

A absolutely free duplicate of the Proxy Statement/Prospectus, as nicely as other filings that contains information about SVB and Boston Personal, might be received at the SEC’s World-wide-web internet site (https://www.sec.gov). Copies of paperwork submitted with the SEC by SVB will be made available absolutely free of demand on SVB’s web-site at https://ir.svb.com or by getting in contact with SVB’s Investor Relations department at 408.654.7400 3005 Tasman Travel, Santa Clara, CA 95054 or [email protected]. Copies of documents submitted with the SEC by Boston Personal will be created obtainable totally free of demand on Boston Private’s website at https://ir.bostonprivate.com or by calling Boston Private’s Trader Relations division at 617.912.4386 10 Put up Place of work Sq., Boston, MA 02109 or [email protected].

Individuals in the Solicitation
SVB, Boston Private and sure of their respective administrators and govt officers could be considered to be participants in the solicitation of proxies from the shareholders of Boston Non-public in link with the proposed merger. Facts about the directors and government officers of SVB is set forth in the proxy statement for SVB’s 2020 Yearly Assembly of Stockholders, which was submitted with the SEC on March 9, 2020, and other files submitted by SVB with the SEC. Data about the directors and government officers of Boston Non-public is established forth in the proxy statement for Boston Private’s 2020 Yearly Conference of Shareholders, which was filed with the SEC on March 16, 2020, and other paperwork filed by Boston Private with the SEC. Added information and facts about the pursuits of people individuals and other folks who could be deemed contributors in the transaction may be attained by looking through the Proxy Assertion/Prospectus relating to the proposed merger when it will become accessible. Totally free copies of this document may well be acquired as explained in the previous paragraph.&#13

Trader Contacts:
Meghan O’Leary
Trader Relations
SVB Economic Group
[email protected]

Adam Bromley
Trader Relations
Boston Non-public
[email protected]

Media Contacts:
Eileen Nolan
General public Relations     
SVB Monetary Group
[email protected] 

Brian Schaffer
Prosek Partners for SVB Economical Group
[email protected]

Lucy Muscarella
Public Relations
Boston Personal
[email protected]   &#13

See initial content material:https://www.prnewswire.com/information-releases/svb-money-team-to-get-boston-non-public-a-major-provider-of-wealth-administration-trust-and-banking-services-301200499.html

Source Silicon Valley Bank

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