Silvergate Capital Corp

Silvergate Capital Corp. is a holding company, which engages in the provision of banking and loan services. It focuses on the financial infrastructure solutions and services for participants in the nascent and digital currency industry. The company was founded in 1988 and is headquartered in La Jolla, CA.

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A dividend suspension wasn't taken well by the market.

Why Silvergate Capital's Stock Dropped 11.4% on Friday

(Kitco News) - U.S. Fed Board rejected Custodia Bank's application to become a member of the Federal Reserve System, and Silvergate announced the suspension of dividend payments.

Rough day for crypto banks: Custodia gets rejected by the Fed while Silvergate suspends dividend payments

Several other banks have traded down in sympathy. Here is a bank shot on the Silvergate carnage.

No Sympathy For Silvergate

Why are investors feeling jittery about Silvergate Capital (NYSE: SI ) today? SI stock fell about 8% this morning as traders considered a press release from Silvergate Capital.

Why Is Silvergate (SI) Stock Down Today?

Silvergate Capital Corp. SI, -2.42% stock fell 7.5% in premarket trades Friday after the company said it is suspending dividends on its 5.375% fixed rate non-cumulative perpetual preferred stock, Series A, in order to preserve capital.  The company said it's making the move to maintain a “highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry.

Silvergate Capital stock falls after company suspends dividend on preferred shares

Silvergate said that it would suspend the payment of dividends on its Series A stock, which has outperformed its main shares amid a brutal bear market.

More Bad News for Silvergate Investors. The Crypto Bank Is Putting Dividends on Hold.

LA JOLLA, Calif.--( BUSINESS WIRE )--Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced that the Company has suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital. This decision reflects the Company's focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry. The Company continues to maintain a cash position in excess of its digital asset customer related deposits.

Silvergate Suspends Series A Preferred Stock Dividend

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The bank took heavy losses in the fourth quarter and has a lot of moving parts on its balance sheet.

After Losing 70% of Its Deposits, Where Does Silvergate Capital Go From Here?

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The macroeconomic climate in 2022 and 2023 has had a negative impact on many equity investments. Fears of a possible recession and a gloomy attitude among investors have affected companies in precarious financial situations.

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NEW YORK , Jan. 23, 2023 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, reminds of purchasers of the securities of Silvergate Capital Corporation (NYSE: SI) between November 9, 2021 and January 5, 2023, both dates inclusive (the "Class Period"), of the important February 6, 2023  lead plaintiff deadline. SO WHAT: If you purchased Silvergate securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

ROSEN, SKILLED INVESTOR COUNSEL, Encourages Silvergate Capital Corporation Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action - SI

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Silvergate stock surged more than 12% on Monday after bitcoin hit $23,000 over the weekend.

Silvergate and other crypto-linked stocks climb as bitcoin notches its highest price in 5 months

Crypto-centric bank Silvergate said its exposure to bankrupt lender Genesis has been limited. The bank made this announcement in an update Friday (Jan. 20), one day after Genesis filed for bankruptcy and three days after Silvergate said the cryptocurrency industry's ongoing downturn had led to a $1 billion loss.

Crypto Bank Silvergate Says Genesis Exposure ‘Minimal'

Signature Bank

Two cryptocurrency-sector banks have turned to the federal mortgage system to ease customer withdrawals. Silvergate Capital and Signature Bank have borrowed billions from Federal Home Loan Banks, the system created to back mortgage lending during the Great Depression, The Wall Street Journal (WSJ) reported Saturday (Jan. 21).

Crypto Contagion Spills Into Mortgage Lenders Silvergate and Signature

New York, New York--(Newsfile Corp. - January 22, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, reminds of purchasers of the securities of Silvergate Capital Corporation (NYSE: SI) between November 9, 2021 and January 5, 2023, both dates inclusive (the "Class Period"), of the important February 6, 2023 lead plaintiff deadline.

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages Silvergate Capital Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action - SI

LA JOLLA, Calif.--( BUSINESS WIRE )--Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, "Genesis").

Silvergate Provides Statement on Limited Exposure to Genesis

The two lenders have seen their shares slide precipitously over the past year as a result of turmoil in cryptocurrencies.

After Silvergate and Signature Earnings, the Worst Might Be Over for Crypto Banks

OAKLAND, Calif.--( BUSINESS WIRE )--A Silvergate class action lawsuit has been filed on behalf of investors who lost money in Silvergate Capital Corporation (“Silvergate”) (NYSE: SI). Shares of Silvergate plummeted 42% on January 5, 2023, following the company's disclosure that it was taking a $196 million impairment charge after customers withdrew approximately $8.1 billion of digital-asset deposits during its fourth quarter of 2022. Then, on Tuesday, January 17, 2023, Silvergate reported a $1 billion net loss in that same quarter. We encourage investors who purchased or acquired SI securities between November 9, 2021, and November 17, 2022, to contact Gibbs Law Group to discuss your legal rights and options.

Lost Money in Silvergate Capital Corp.?

San Francisco, California--(Newsfile Corp. - January 18, 2023) - Hagens Berman urges Silvergate Capital Corporation (NYSE: SI) investors who suffered significant losses to submit your losses now. Class Period: Nov. 9, 2021 - Jan. 5, 2023Lead Plaintiff Deadline: Feb. 6, 2023Visit: www.hbsslaw.com/investor-fraud/SIContact An Attorney Now: SI@hbsslaw.com844-916-0895Silvergate Capital Corporation (NYSE: SI) Securities Class Action The complaint alleges that Defendants misrepresented and failed to disclose to investors: (1) that Silvergate'

HAGENS BERMAN Encourages Silvergate Capital (SI) Investors with $200K+ Losses to Contact Firm's Attorneys Before Feb. 6th Deadline in Securities Fraud Class Action

New York, New York--(Newsfile Corp. - January 18, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, reminds of purchasers of the securities of Silvergate Capital Corporation (NYSE: SI) between November 9, 2021 and January 5, 2023, both dates inclusive (the "Class Period"), of the important February 6, 2023 lead plaintiff deadline.

SI NOTICE: ROSEN, TRUSTED AND TOP RANKED INVESTOR COUNSEL, Encourages Silvergate Capital Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action - SI

New York, New York--(Newsfile Corp. - January 18, 2023) - Levi & Korsinsky, LLP notifies investors in Silvergate Capital Corporation ("Silvergate" or the "Company") (NYSE: SI) of a class action securities lawsuit.The lawsuit on behalf of Silvergate investors has been commenced in the the United States District Court for the Southern District of California. Affected investors purchased or otherwise acquired certain Silvergate Capital Corporation securities between November 9, 2021 and January 5, 2023.

SI LAWSUIT ALERT: Levi & Korsinsky Notifies Silvergate Capital Corporation Investors Of a Class Action Lawsuit and Upcoming Deadline

Silvergate Capital Corporation (NYSE:SI ) Q4 2022 Results Conference Call January 17, 2023 11:00 AM ET Company Participants Hunter Stenback - IR Alan Lane - CEO Tony Martino - CFO Ben Reynolds - President Conference Call Participants Michael Perito - KBW Joseph Vafi - Canaccord Steven Alexopoulos - JP Morgan David Rochester - Compass Point Manan Gosalia - Morgan Stanley Will Nance - Goldman Sachs Jared Shaw - Wells Fargo George Sutton - Craig Hallum Operator Hello and welcome to today's Silvergate Capital Corporation Fourth Quarter 2022 Earnings Conference Call. My name is Bailey and I will be the operator for today's call.

News for Silvergate Capital Corp Stock (SI)