SI - SI STOCK NEWS

Silvergate Capital Corporation has successfully completed a public offering of 4,563,493 shares of its Class A common stock at $63.00 per share, generating gross proceeds of approximately $287.5 million. The funds will be used to enhance regulatory capital levels for Silvergate and its subsidiary, Silvergate Bank, and for general corporate purposes, including supporting growth initiatives and the Bank's SEN Leverage lending product. The offering was led by major underwriters including Goldman Sachs & Co. LLC and Canaccord Genuity.

Silvergate Capital Corporation has priced an underwritten public offering of 3,968,255 shares of Class A common stock at $63.00 per share, aiming for gross proceeds of approximately $250 million. The underwriters may purchase an additional 595,238 shares, potentially raising the total to $287.5 million. The funds will enhance regulatory capital levels and support growth initiatives, including the SEN Leverage lending product and digital asset services. The offering is set to close on January 26, 2021.

Silvergate Capital Corporation has launched an underwritten public offering of $200 million in Class A common stock, with a potential additional $30 million from underwriters. The funds are intended to bolster regulatory capital for Silvergate Bank and support various growth initiatives, including digital asset services. Goldman Sachs & Co. LLC and others are managing the offering. The offering follows an effective Registration Statement filed with the SEC, and further details will be provided in the preliminary prospectus supplement.

Silvergate Capital Corporation (NYSE:SI) reported strong financial results for Q4 2020, achieving a net income of $9.1 million ($0.47/share), up from $7.1 million in Q3 2020. The Silvergate Exchange Network (SEN) saw a remarkable 33% increase in transactions, totaling 90,763, and handled $59.2 billion in dollar transfers, a 62% rise. Full-year net income increased to $26 million, while digital currency deposits surged to $5 billion. Despite a growth in outstanding loan deferrals to 8.5%, risk-based capital ratios decreased. CEO Lane expressed optimism about growth opportunities, particularly in digital asset lending.

Silvergate Capital Corporation (NYSE:SI) will announce its fourth quarter and full year 2020 financial results on January 25, 2021, post-market closure. A conference call is scheduled for 5:00 p.m. (ET) that same day, accessible via phone or webcast. Silvergate, a commercial bank focused on the digital currency industry, has been profitable for 22 consecutive years. As of September 30, 2020, the Company reported total assets of $2.6 billion, total deposits of $2.3 billion, and total stockholders' equity of $284 million.

Silvergate Capital Corporation (NYSE:SI) announced the appointment of Jonathan Melton as director of digital asset lending. He will oversee the expansion of the SEN Leverage product, which allows customers to secure USD loans backed by bitcoin via the Silvergate Exchange Network. Melton previously held a key role at Xapo and has extensive experience from Morgan Stanley. The company emphasizes its commitment to enhancing capital efficiency for customers in the digital currency market.

Silvergate Capital Corporation reported robust financial results for Q3 2020, with net income of $7.1 million, or $0.37 per diluted share, up from $5.5 million in Q2 2020. The Silvergate Exchange Network (SEN) facilitated 68,361 transactions, a 70% increase from Q2 2020, processing $36.7 billion in transfers, marking a 64% quarter-over-quarter rise. Digital currency customer deposits rose to $2.1 billion, and digital currency customers increased to 928. The company’s total risk-based capital ratio stood at 24.68%. Noninterest income decreased by 27.1% sequentially due to lower gains on securities.

Silvergate Capital Corporation (NYSE:SI) will release its third quarter 2020 financial results on October 26, 2020, before the market opens. A conference call will be held at 11:00 a.m. ET on the same day to discuss these results. Interested investors can access the call by dialing 1-877-407-4018, with an international option at 1-201-689-8471. The replay of the call will begin at 2:00 p.m. ET on the same day, available until November 9, 2020. Silvergate, a profitable entity for 22 years, focuses on the digital currency sector, holding total assets of $2.3 billion and total deposits of $1.7 billion as of June 30, 2020.

Silvergate Capital Corporation (NYSE: SI) has announced a significant milestone, achieving $100 billion in transfer volumes across its Silvergate Exchange Network (SEN). Launched in 2017, the SEN allows continuous USD transfers between eligible accounts. Notably, $76.5 billion of this volume occurred in the first nine months of 2020, showcasing a substantial growth of 252% compared to the previous year's third quarter. The company emphasizes its commitment to innovation in financial solutions for the digital currency sector.