Silvergate Capital Q3 Profit Soars - Quick Facts

(RTTNews) - Silvergate Capital Corp. (SI) on Tuesday reported net income for the third quarter of $23.49 million or $0.88 per share, sharply higher than $7.06 million or $0.37 per share in the year-ago quarter.

Net interest income for the quarter surged to $39.0 million from $19.4 million in the prior-year quarter. Non-interest income also grew to $14.04 million from $3.96 million in the same period last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share on revenues of $48.25 million for the quarter. Analysts' estimates typically exclude special items.