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Silvergate Bank announces 1Q financial results

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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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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