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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2334708897?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-05-11 20:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2334708897","market":"us","top_or_hot":-1,"title":"BRIEF-Silvergate Capital Says About 230 Employees Will Be Separated","media":"Reuters","content":"<html><body><p>May 11 (Reuters) - <a href=\"https://laohu8.com/S/SI\">Silvergate Capital</a> Corp   :</p><p>   * SILVERGATE CAPITAL CORP - APPROXIMATELY 230 EMPLOYEES WILL BE SEPARATED</p><p>   * SILVERGATE CAPITAL CORP - EFFECTIVE ON MAY 12, 2023, APPROXIMATELY 230 EMPLOYEES WILL BE SEPARATED</p><p>   * SILVERGATE CAPITAL CORP - ADDITIONAL INCREMENTAL REDUCTIONS IN HEADCOUNT ARE EXPECTED TO OCCUR ON EACH OF JUNE 30, AUGUST 30, NOVEMBER 30, OR LATER</p><p>   * SILVERGATE CAPITAL - ESTIMATES AGGREGATE COSTS ASSOCIATED WITH REDUCTIONS IN FORCE OF APPROXIMATELY $13.6 MILLION</p><p>   * SILVERGATE CAPITAL CORP SAYS CO UNABLE TO FILE ITS QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2023</p><p>   * SILVERGATE CAPITAL CORP-  IN MARCH 2023, BANK FULLY REPAID ITS OUTSTANDING BORROWINGS FROM THE FEDERAL HOME LOAN BANK.</p><p>   * SILVERGATE CAPITAL CORP- AS OF MAY 9, HAD CASH, CASH EQUIVALENTS EXCESS OF AMOUNTS REQUIRED TO FULLY REPAY ALL REMAINING DEPOSIT LIABILITIES OF  BANK</p><p>   * SILVERGATE CAPITAL - FOLLOWING REDUCTION EFFECTIVE IN MAY, REMAINING ABOUT 80 OFFICERS &amp; EMPLOYEES WILL FOCUS ON IMPLEMENTING BANK LIQUIDATION</p><p>   * SILVERGATE - DUE TO PROBES, POTENTIAL LIABILITIES FROM VARIOUS LITIGATION, CO'S PUBLIC ACCOUNTING FIRM UNABLE TO COMPLETE AUDIT FOR 2022 FORM 10-K</p><p>   * SILVERGATE CAPITAL CORP - NYSE SUSPENDED TRADING IN CO'S SECURITIES AND INDICATED TO CO THAT IT EXPECTS TO COMMENCE DELISTING SHORTLY THEREAFTER</p><p>Source text for Eikon:    Further company coverage:   </p><p> ((Reuters.Briefs@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BRIEF-Silvergate Capital Says About 230 Employees Will Be Separated</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBRIEF-Silvergate Capital Says About 230 Employees Will Be Separated\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-11 20:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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 ...</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":"LU1720051017.SGD","symbol_name":"Allianz Global Artificial Intelligence AT Acc H2-SGD","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,"columns":[],"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) - Silvergate Capital Corp   :   * SILVERGATE CAPITAL CORP - APPROXIMATELY 230 EMPLO","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","BK4585":"ETF&股票定投概念","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1548497426.USD":"安联环球人工智能AT Acc","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4588":"碎股","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","BK4512":"苹果概念","BK4141":"半导体产品","SICP":"Silvergate Capital Corporation","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","BK4211":"区域性银行","ON":"安森美半导体"},"translate_title":"简介——Silvergate Capital表示，大约230名员工将被离职","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SI":1,"SICP":1,"ON":0.63},"content_text":"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 THEREAFTERSource text for Eikon:    Further company coverage:    ((Reuters.Briefs@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2334708897"}