Silvergate Capital (SI) Tops Q1 EPS by 5c

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Silvergate Capital Corporation Announces First Quarter 2020 Results

April 29, 2020 6:25 AM EDT

LA JOLLA, Calif.--(BUSINESS WIRE)-- Silvergate Capital Corporation (Silvergate or Company) (NYSE: SI) and its wholly-owned subsidiary, Silvergate Bank (Bank), today announced financial results for the three months ended March 31, 2020.

First Quarter 2020 Financial Highlights

Net income for the quarter was $4.4 million, or $0.23 per diluted share, compared to net income of $3.6 million, or $0.19 per diluted share, for the fourth quarter of 2019, and net income of $9.4 million, or $0.52 per diluted share, for the first quarter of 2019 Digital currency customers grew to 850 at March 31, 2020 compared to 804 at December 31, 2019, and 617 at March 31,... More