SI - SI STOCK NEWS

Silvergate Capital Corporation (NYSE: SI) announced the promotion of Ben Reynolds to President and the appointment of Kate Fraher as Chief Risk Officer. Both executives will report to CEO Alan Lane. Reynolds has a solid history in digital asset initiatives since joining Silvergate in 2016, while Fraher brings over 20 years of banking experience and joined the company in 2006. The appointments are aimed at enhancing Silvergate's focus on innovative financial solutions for the digital asset industry, reinforcing risk management practices as they move into 2023.

Silvergate Capital Corporation (NYSE:SI) announced enhancements to its customer support operations, now offering 24/7 assistance for banking activities. This initiative complements its existing real-time payments platform, Silvergate Exchange Network (SEN), which has processed over $2 trillion since its launch in 2017. The extended support aims to boost customer confidence and accessibility, particularly in the digital asset industry.

Holzer & Holzer, LLC is investigating Silvergate Capital Corporation (NYSE:SI) regarding potential compliance with federal securities laws. The inquiry follows the Company’s announcement of Q3 2022 financial results on October 18, 2022, revealing that quarterly earnings fell short of analyst expectations. Additionally, volumes on the Silvergate Exchange Network decreased compared to industry performance. As a result, Silvergate's stock price experienced a decline.

Silvergate Capital Corporation (NYSE:SI) reported strong third quarter 2022 results, with net income of $43.3 million and earnings of $1.28 per diluted share, up from $38.6 million and $1.13 in Q2 2022. Digital asset customers rose to 1,677, while average digital asset customer deposits fell to $12.0 billion. The Silvergate Exchange Network (SEN) saw $112.6 billion in transfers, a 41% drop from Q2 2022. Noninterest income decreased by 8.2% quarter-over-quarter. The efficiency ratio improved to 37.11%, and total assets amounted to $15.5 billion, reflecting ongoing strategic initiatives amidst a challenging industry backdrop.

Silvergate Capital Corporation (NYSE:SI) announced it will release its Q3 2022 financial results on October 18, 2022, before market open. A conference call will follow at 11:00 a.m. ET the same day. Investors can access the call by dialing 1-844-200-6205 or through a live webcast via the company's investor relations website. A replay will be available from 1:00 p.m. ET on the same day until November 1, 2022.

Siemens Government Technologies (SGT) has appointed John Ustica as its new president and CEO. Ustica, who joined SGT in 2018 as CFO, brings over 20 years of experience in managing Siemens' global customer relations. In his new role, he will oversee the only cleared provider of Siemens’ technology portfolio for government clients, enhancing solutions in industrial automation, smart infrastructure, and digital transformation. This leadership change aims to better address the evolving needs of U.S. government customers.

Silvergate Capital Corporation (NYSE:SI) has appointed Mary-Margaret Henke to its board of directors, including the board of its subsidiary, Silvergate Bank. Ms. Henke brings nearly 30 years of experience in financial services, having held key roles in regulatory compliance, audit, and risk management at firms like PwC and Western Union. Her expertise is expected to bolster Silvergate’s growth as a leader in innovative banking solutions for the digital currency industry, particularly during this transformative period for both the bank and the sector.

Siemens Government Technologies (SGT) has partnered with NMR Consulting under a U.S. Small Business Administration Mentor-Protégé agreement aimed at enhancing NMR's capabilities for federal projects. This collaboration enables NMR to leverage SGT's extensive resources and Siemens' energy technologies to support national security missions. Currently, 20% of Siemens' suppliers are small and diverse-owned businesses, contributing over $900 million annually. The partnership promises new revenue opportunities and improved project processes, marking a significant step in both companies' growth strategies.

Siemens Government Technologies (SGT) has been awarded a Single Award Task Order Contract (SATOC) from the U.S. Army Engineering and Support Center, Huntsville, valued at $295 million. This performance-based contract spans five base years with two optional years, focusing on enhancing operational efficiency, safety, and security in federal facilities. SGT will implement various advanced systems including Utility Monitoring and Control Systems, HVAC Systems, and Electronic Security Systems, providing a streamlined path for federal agencies to improve infrastructure.