BRIEF-Silvergate Capital Says About 230 Employees Will Be Separated

Reuters2023-05-11

May 11 (Reuters) - Silvergate Capital Corp :

* SILVERGATE CAPITAL CORP - APPROXIMATELY 230 EMPLOYEES WILL BE SEPARATED

* SILVERGATE CAPITAL CORP - EFFECTIVE ON MAY 12, 2023, APPROXIMATELY 230 EMPLOYEES WILL BE SEPARATED

* SILVERGATE CAPITAL CORP - ADDITIONAL INCREMENTAL REDUCTIONS IN HEADCOUNT ARE EXPECTED TO OCCUR ON EACH OF JUNE 30, AUGUST 30, NOVEMBER 30, OR LATER

* SILVERGATE CAPITAL - ESTIMATES AGGREGATE COSTS ASSOCIATED WITH REDUCTIONS IN FORCE OF APPROXIMATELY $13.6 MILLION

* SILVERGATE CAPITAL CORP SAYS CO UNABLE TO FILE ITS QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2023

* SILVERGATE CAPITAL CORP- IN MARCH 2023, BANK FULLY REPAID ITS OUTSTANDING BORROWINGS FROM THE FEDERAL HOME LOAN BANK.

* SILVERGATE CAPITAL CORP- AS OF MAY 9, HAD CASH, CASH EQUIVALENTS EXCESS OF AMOUNTS REQUIRED TO FULLY REPAY ALL REMAINING DEPOSIT LIABILITIES OF BANK

* SILVERGATE CAPITAL - FOLLOWING REDUCTION EFFECTIVE IN MAY, REMAINING ABOUT 80 OFFICERS & EMPLOYEES WILL FOCUS ON IMPLEMENTING BANK LIQUIDATION

* SILVERGATE - DUE TO PROBES, POTENTIAL LIABILITIES FROM VARIOUS LITIGATION, CO'S PUBLIC ACCOUNTING FIRM UNABLE TO COMPLETE AUDIT FOR 2022 FORM 10-K

* SILVERGATE CAPITAL CORP - NYSE SUSPENDED TRADING IN CO'S SECURITIES AND INDICATED TO CO THAT IT EXPECTS TO COMMENCE DELISTING SHORTLY THEREAFTER

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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Silvergate Capital Corp   :   * SILVERGATE CAPITAL CORP - APPROXIMATELY 230 EMPLOYEES WILL BE SEPARATED   * SILVERGATE CAPITAL CORP - EFFECTIVE ON MAY 12, 2023, APPROXIMATELY 230 ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1861215975.USD","symbol_name":"贝莱德新一代科技基金 A2","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2334708897","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2334708897","pubTimestamp":1683809901,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"May 11 (Reuters) - 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