La Jolla-based Silvergate Bank on Wednesday announced financial results for the first three months of 2014.
The bank's net income was $943,000 for the first quarter, its total assets increased to $724.8 million as of March 31 and its equity capital grew to $71.1 million.
At March 31, Silvergate Bank's Tier 1 Leverage Capital Ratio was 11.56 percent and Total Risk-Based Capital Ratio was 17.14 percent, both substantially exceeding 'well capitalized' minimums of 5 percent and 10 percent.
The Silvergate Bank's ratios of nonperforming loans to total loans and nonperforming assets to total assets both remained low, declining to 0.59 percent and 0.99 percent, respectively.
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Executive Editor George Chamberlin speaks with Alan Lane, president and CEO of Silvergate Bank, about Lane's view on post-recession hesitancy in the financial industry and the bank's strategy for financing small businesses.