Silvergate Bank is headquartered in LA JOLLA and is the 48th largest bank in the state of California. It is also the 601st largest bank in the nation. It was established in 1988 and as of March of 2023, it had grown to 327 employees at 2 locations. Silvergate Bank has a C- health rating.
Not Recognizing My Same Day Wire Transfer From Bofa
It's been almost a week since my same-day wire transfer was completed but silvergate bank claims they haven't received it despite all the tracking number and confirmation number...so frustrating
What A Shame
The bank fell apart like so many banks did in 2008-2011. They bucked the status quo and put all their eggs in the crypto basket. there non-interest bearing deposits were 9% when the average bank is 25-30%. It was too good to be true and the rest is history.
Failed & Closed Doors
How can a bank rated A fail in a week, as this bank did??
No ACH Access To Withdraw Or Transfer Funds
Beware of this bank. Although they are happy to receive an ACH when funding your online account, you can't withdraw any funds without calling or emailing customer service and requesting that a transfer/withdrawal be made back to your original funding account. You cannot setup the ACH yourself nor can you transfer funds anywhere else. I opened this account but plan to close it as soon as the first month interest pays. Bummer.
Data as of Q1 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27330 |
| Year Established | 1988 |
| Employees | 327 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -32.5% |
| Return on Equity - YTD | -535.23% |
| Annual Interest Income | $97.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2023vs Q1 2022 | $1.89B$15.61B |
| Loans | Q1 2023vs Q1 2022 | $95.9MM$1.68B |
| Deposits | Q1 2023vs Q1 2022 | $1.50B$13.42B |
| Equity Capital | Q1 2023vs Q1 2022 | $232.2MM$1.35B |
| Loan Loss Allowance | Q1 2023vs Q1 2022 | $28.00K$4.4MM |
| Unbacked Noncurrent Loans | Q1 2023vs Q1 2022 | $1.5MM$3.0MM |
| Real Estate Owned | Q1 2023vs Q1 2022 | $83.00K$0 |