SVB Financial Group Announces Conference Call to Discuss Restatement Results
December 29 2005 - 8:12PM
PR Newswire (US)
SANTA CLARA, Calif., Dec. 29 /PRNewswire-FirstCall/ -- SVB
Financial Group (NASDAQ:SIVBE) will host a conference call on
Friday, December 30, 2005 at 2:00 p.m. (PST) (5:00 p.m. (EST)) to
discuss the results of the restatement of certain of the Company's
financial statements relating to revisions in the accounting
treatment for its portfolio of equity warrant assets and other
corrections to its accounting policies and practices made in
connection with the restatement process. The Company expects to
file with the Securities and Exchange Commission tomorrow, prior to
the call, all four of the periodic reports required in connection
with its restatement efforts: an amended annual report on Form
10-K/A for the fiscal year ended December 31, 2004 and an amended
quarterly report on Form 10-Q/A for the fiscal quarter ended March
31, 2005, both of which include restated financial statements
covering the years 2002, 2003 and 2004, and the first quarter of
2005, and restated selected financial information for 2000 and
2001; as well as quarterly reports on Form 10-Q for the quarters
ended June 30, 2005 and September 30, 2005. Dial-in information:
The conference call can be accessed by dialing 1-877-630-8512 and
referencing "Silicon Valley Bank." Audio Webcast: A listen-only
live webcast can be accessed at http://www.svb.com/ in the Investor
Relations section of the website. Replay: A digitized replay of the
conference call will be available beginning at approximately 4:30
p.m. (PST) on Friday, December 30, 2005, through 11:59 p.m. (PST),
Wednesday, February 1, 2006, by dialing 1-866-403-7118. A replay of
the webcast will also be available on http://www.svb.com/ beginning
Friday, December 30, 2005. About SVB Financial Group For more than
twenty years, SVB Financial Group, formerly Silicon Valley
Bancshares, has been dedicated to helping entrepreneurs succeed.
SVB Financial Group is a financial holding company that serves
emerging growth and mature companies in the technology, life
science, private equity and premium wine industries. Headquartered
in Santa Clara, Calif., SVB Financial Group provides clients with
commercial, investment, international and private banking services.
The company also offers funds management, broker-dealer
transactions, asset management and a full range of services for
private equity companies, as well as the added value of its
knowledge and networks worldwide. More information on the company
can be found at http://www.svb.com/. Safe Harbor This release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including the
statement made above about the company's expectation of filing its
periodic reports with the SEC, and its completion of the
restatement. Management has in the past and might in the future
make forward-looking statements orally to analysts, investors, the
media and others. Forward-looking statements are statements that
are not historical facts. Although management believes that the
expectations reflected in these forward-looking statements are
reasonable, and it has based these expectations on its beliefs, as
well as its assumptions, such expectations may prove to be
incorrect. Actual results could differ significantly from those
expressed in or implied by management's forward- looking
statements, due to the potential delisting of the company's
securities despite the completed filings, the actual audit of the
quarterly results, as well as changes in economic, business and
regulatory factors and trends. All subsequent written or oral
forward-looking statements attributable to the company or persons
acting on its behalf are expressly qualified in their entirety by
these cautionary statements. The forward-looking statements
included in this release are made only as of the date of this
release. The company does not intend, and undertakes no obligation,
to update these forward-looking statements. DATASOURCE: SVB
Financial Group CONTACT: Lisa Bertolet of Investor Relations,
+1-408-654-7282, or Meghan O'Leary of Public Relations,
+1-408-654-6364, both of SVB Financial Group Web site:
http://www.svb.com/
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