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San Diego
Tuesday, May 28, 2024
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Chief Executive Departs Silvergate Bank

Anthony Feraro, chief executive at San Diego-based Silvergate Bank, recently left the bank after about a year at the helm.

A bank employee confirmed Feraro was no longer working at the bank, but calls to Chairman Dennis Frank were not returned.

Silvergate, with about $284 million in assets, has been operating under regulatory orders from the state Department of Financial Institutions and the FDIC since late 2006. The orders included provisions to find new management.

Earlier this year, Silvergate terminated an agreement with a private investment group to put $6 million in new capital into the bank.

Silvergate Bank, an industrial loan company, has been shrinking in size in recent years, being selective about making new loans. About five years ago it had about $500 million in assets.

, Mike Allen

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