Silvergate Bank Results Presentation Deck
January 2023, 11 slides
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exhibit capital corporation earnings presentation | Silvergate Bank
forward looking statements | Silvergate Bank
fourth quarter commentary key commentary key metrics as a result of a crisis of confidence across the digital asset industry many industry participants shifted to a risk off position across digital asset trading platforms in turn total deposits from digital asset customers declined to billion at compared to billion at we utilized wholesale funding to satisfy outflows and subsequently sold debt securities to accommodate sustained lower deposit levels and maintain a highly liquid balance sheet transfer volume on the exchange network sen was billion an increase of on a sequential basis we are taking several decisive actions to ensure our business remains resilient which include certain non core customers and eliminating a portion of our product portfolio reducing our by approximately people or taking an impairment charge of million on developed technology assets purchased from diem group tier leverage ratio book value per common share net loss attributable to common shareholders diluted adjusted net income available to common shareholders adjusted earnings per diluted share | Silvergate Bank
sen platform metrics | Silvergate Bank
digital asset deposits commentary as a result of the crisis of confidence across the digital asset industry average digital asset deposits declined sequentially and year over year the cost of digital asset deposits was in in line with the company low cost digital asset deposit strategy if | Silvergate Bank
asset composition and net interest income asset allocation securities composition of total assets net interest income and margin commentary highly liquid balance sheet with cash and cash equivalents of billion in excess of digital asset deposits all securities are government or agency backed and available for sale of interest earning assets are adjustable rate of interest earning assets are hedged to mitigate interest rate risk loan composition of total assets | Silvergate Bank
income loss commentary adjusted income excludes loss on securities and loss on sale of derivatives fee income from digital currency customers down compared to the prior quarter as a result of a challenging digital asset ecosystem | Silvergate Bank
expense commentary adjusted expense excludes impairment of intangible assets and charges expect to incur charges of approximately the majority of which will be incurred in related to recently announced reduction in force cost savings associated with the reduction in force estimated to be million to million per quarter mace | Silvergate Bank
appendix | Silvergate Bank
non financial measures | Silvergate Bank
reconciliation of non financial measures see non financial measures in our fourth quarter earnings release for more information | Silvergate Bank
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