is a San Diego-based business bank with a strong commercial real estate lending platform, a unique national residential real estate loan niche, a growing commercial and industrial loan portfolio, and a special focus on deposits and cash management services for emerging financial technology companies.
From its 1988 founding with $2 million in equity capital, Silvergate has grown to become the largest and most profitable commercial bank headquartered in San Diego County. At September 30, 2017, Silvergate had 149 employees, its total assets were $1.2 billion, its equity capital was over $90 million, and the Bank is currently in its twentieth consecutive profitable year.
Silvergate is in the highest capital category for commercial banks – “well capitalized” – and it has consistently posted strong asset quality ratios.
Notable events in the Bank’s recent history include its conversion from an industrial bank to a commercial bank in 2009 and subsequent introduction of business banking products and services; launching both mortgage warehouse and correspondent lending divisions; becoming a Federal Reserve member bank in 2012; and successfully implementing several important technology driven initiatives, including an internet branch, financial technology companies deposit program, and a 2016 data processing systems conversion that has expanded our ability to enhance the speed and scope of online, remote, and mobile banking services for our clients.
Silvergate’s achievements have been built on hiring talented individuals and maintaining high standards in all of our lending and operating activities. We believe that our commitments to quality in staffing, loan underwriting, operations, and regulatory compliance all position Silvergate Bank for continued growth and success in the years ahead.