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Silvergate Bank doubles its net income

Silvergate Bank in La Jolla more than doubled its net income from $3.1 million in 2011 to $7.4 million in 2012 – its highest annual total since its founding in 1988.

Assets grew 45 percent to $684.3 million, partly due to a 25 percent rise in real estate loans. Deposits jumped 74 percent to $490.5 million.

Silvergate, which targets small businesses, also cut its past-due loans and foreclosed properties from 3 percent of assets in 2011 to less than 1 percent in 2012.

On a quarterly basis, net income tripled from $801,000 in the fourth quarter of 2011 to $2.5 million in the same period of 2012.

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Silvergate Bank

Company Website

4275 Executive Sq. Ste., 800
La Jolla, CA 92037

Silvergate Bank Executive(s):

Alan Lane

  • Chief Executive Officer, President

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Other Lists

2015