Silvergate Bank in La Jolla, California (CA)
Overview, Financial Summary, Detailed Financial Reports, Branches

Silvergate Bank - Overview

  • General
  • FDIC Certificate #: 27330
    Status: Active
    Federal Reserve ID: 1216826
    Bank Holding Company (Regulatory Top Holder): Silvergate Capital Corporation (RSSDID: 3695667, Location: La Jolla, CA)
    Date Established: August 26, 1988
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Domestic: 6, Interstate: No)
    OTS Docket #: 14732
    FDIC's unique #: 39584
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: August 26, 1988
    Last Structure Change Effective Date: Febuary 28, 2009
    Last Structure Change Process Date: December 04, 2009
    Last Data Update: December 04, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 4275 Executive Square, Suite800, La Jolla, CA 92037
    County: San Diego
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Orange
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): San Diego, CA (#7320)
    Core Based Statistical Area (CBSA): San Diego-Carlsbad-San Marcos, CA (#41740)
    CBSA Metro Statistical Area: San Diego-Carlsbad-San Marcos, CA (#41740)
  • History of Changes
  • Change in Entity Type
  • Financial Summary
  • Total assets: $470.5 mil
    Equity capital: $63.8 mil
    Deposits held in domestic offices: $282.6 mil
    Return on assets (ROA): 0.78% ($3.7 mil)
    Quarterly return on assets: 0.71% ($3.3 mil)
    Return on Equity (ROE): 6.62% ($4.2 mil)
    Quarterly return on equity: 5.54% ($3.5 mil)
    Net income: $3.1 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.33% ($6,257.3 mil)
    Quarterly Pretax return on assets: 1.21% ($5,692.8 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 72Total employees (full-time equivalent)
  • $470,476Total assets
  • $23,438Cash and due from depository institutions
  • $21,163Interest-bearing balances
  • $76,231Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $354,267Net loans & leases
  • $4,028Loan loss allowance
  • $0Trading account assets
  • $1,276Bank premises and fixed assets
  • $3,793Other real estate owned
  • $152Goodwill and other intangibles
  • $470,476Life insurance assets
  • $11,319All other assets
  • $406,703Total liabilities and capital
  • $282,645Total liabilities
  • $251,115Total deposits
  • $282,645Interest-bearing deposits
  • $82Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $121,890Trading liabilities
  • $0Other borrowed funds
  • $2,168Subordinated debt
  • $63,773All other liabilities
  • $63,773Total equity capital
  • $63,773Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $45,371Surplus
  • $18,402Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $17,085Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $10,528Income earned, not collected on loans
  • $0Earning assets
  • $1,599Long-term assets (5+ years)
  • $451,661Average Assets, year-to-date
  • $57,600Average Assets, quarterly
  • $395,795Volatile liabilities
  • $452,414Insider loans
  • $359,331FHLB advances
  • $411,431Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $63,756Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $22,039Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $20,194Total interest income
  • $4,346Total interest expense
  • $15,848Net interest income
  • $825Provision for loan and lease losses
  • $1,181Total noninterest income
  • $0Fiduciary activities
  • $38Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,143Additional noninterest income
  • $11,319Total noninterest expense
  • $6,983Salaries and employee benefits
  • $1,118Premises and equipment expense
  • $3,218Additional noninterest expense
  • $4,885Pre-tax net operating income
  • $369Securities gains (losses)
  • $2,170Applicable income taxes
  • $3,084Income before extraordinary items
  • $0Extraordinary gains - net
  • $3,084Net income attributable to bank
  • $0Net charge-offs
  • $3,084Cash dividends
  • $979Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.36%Yield on earning assets
  • 1.15%Cost of funding earning assets
  • 4.20%Net interest margin
  • 0.31%Noninterest income to earning assets
  • 3.00%Noninterest expense to earning assets
  • 0.72%Net operating income to assets
  • 0.78%Return on assets (ROA)
  • 1.33%Pretax return on assets
  • 6.62%Return on equity (ROE)
  • 6.62%Retained earnings to average equity (YTD only)
  • 0.34%Net charge-offs to loans
  • 84.27%Credit loss provision to net charge-offs
  • 5.83%Efficiency ratio
  • 66,469Assets per employee
  • 6.53%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.12%Loss allowance to noncurrent loans
  • 38.26%Noncurrent assets plus other real estate owned to assets
  • 3.04%Noncurrent loans to loans
  • 2.94%Net loans and leases to deposits
  • 125.34%Net loans and leases to core deposits
  • 127.76%Equity capital to assets
  • 13.55%Core capital (leverage) ratio
  • 15.50%Tier 1 risk-based capital ratio
  • 17.74%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $395,795Average earning assets
  • $46,618Average equity
  • $376,951Average loans

List of branches

  • 6 California Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    039584Silvergate Bank4275 Executive Square, Suite800, La Jolla, CA 92037August 26, 1988Full Service Brick and Mortar
    1359284La Mesa Branch8211 La Mesa Boulevard, La Mesa, CA 91941January 16, 2001Full Service Brick and Mortar
    2258613Lancaster Branch539 West Lancaster Boulevard, Lancaster, CA 93534May 28, 1982Full Service Brick and Mortar
    3258622Riverside Branch3692 Sunnyside Drive, Riverside, CA 92506July 06, 1987Full Service Brick and Mortar
    4516694La Jolla4250 Executive Square Suite 100, La Jolla, CA 92037August 26, 1988Full Service Brick and Mortar
    5520804Escondido Branch128 North Broadway, Escondido, CA 92025June 13, 2011Full Service Brick and Mortar

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