Silvergate Bank, based in University City and with four branches, reported second quarter net income of $1.5 million, up 10 percent from the like quarter of 2013.

For the six months, Silvergate reported net income of $2.45 million, down 11 percent from the first half of last year.

The bank said the net interest margin or the profit it makes on loans less what it pays out on deposits was 3.14 percent in the first half compared with 3.43 percent for the first half of 2013 that accounted for the lower net income.

Total assets increased to $734 million, up 14 percent over the 12 months to June. Total loans stood at about $603 million, up 19 percent from the like quarter of last year.

The bank’s capital ratios all exceed the minimum standards to be a well-capitalized institution with total risk-based capital at 15.48 percent.

Total net charge offs as a percentage of average total loans at June 30 was a miniscule 0.01 percent, below the 0.02 percent for the like quarter of 2013.

CEO Alan Lane said the ratio was the lowest it’s been in seven years.