Exhibit 99.1
SVB Financial Group Reiterates That It Will Not Increase Purchase Price for Boston Private
SANTA CLARA, Calif. APRIL 30, 2021 SVB Financial Group (SVB) (NASDAQ: SIVB) remains fully committed
to the merger with Boston Private Financial Holdings, Inc. (Boston Private) (NASDAQ: BPFH) and looks forward to completing the transaction. However, in response to HoldCo Asset Managements letter, SVB is reiterating that under no
circumstance will it increase the purchase price, including if the deal is not approved by Boston Privates shareholders.
About SVB Financial
Group
For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors
move bold ideas forward, fast. SVB Financial Groups businesses, including Silicon Valley Bank, offer commercial and private banking, asset management, private wealth management, brokerage and investment services and funds
management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of
innovation around the world. Learn more at svb.com.
SVB Financial Group is the holding company for all business units and groups © 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial
Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. [SIVB-F]
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to
SVB Financial Groups (SVB Financial) and/or Boston Privates expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as
believe, expect, anticipate, intend, target, estimate, continue, positions, prospects or potential, by future conditional verbs
such as will, would, should, could or may, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and we assume no duty to update forward-looking statements. Actual results may differ materially from current projections. In
addition to factors previously disclosed in SVB Financials and Boston Privates reports filed with the U.S. Securities and Exchange Commission (the SEC), the following factors, among others, could cause actual results to
differ materially from forward-looking statements or historical performance: ability to obtain regulatory approvals and meet other closing conditions to the merger, including approval by Boston Privates shareholders on the expected terms
and schedule; delay in closing the merger; the outcome of any legal proceedings that have been or may be instituted against SVB Financial or Boston Private; the occurrence of any event, change or other circumstance that could give rise to the right
of one or both parties to terminate the merger agreement providing for the merger; difficulties and delays in integrating Boston Privates business or fully realizing cost savings and other benefits; business disruption following the merger;
changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; the inability to retain existing Boston Private clients; the inability to retain Boston Private employees; changes in interest rates and capital markets;
inflation; customer borrowing, repayment, investment and deposit practices; customer