Silvergate Capital Q4 Profit Misses Estimates

(RTTNews) - Silvergate Capital Corporation (SI) reported fourth quarter net income available to common shareholders of $18.4 million, or $0.66 per share, compared to net income of $9.1 million, or $0.47 per share, a year ago. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.72, for the quarter. Analysts' estimates typically exclude special items.

Net interest income on a taxable equivalent basis was $40.2 million, compared to $22.4 million, last year. Noninterest income was $11.1 million, up 128.0%, compared to the fourth quarter of 2020. Analysts on average had estimated $53.47 million in revenue.

Shares of Silvergate Capital were down 4% in pre-market trade on Tuesday.