Solera Bank is a small one branch niche bank BUT it’s different from your typical community bank. They actually are not in the business in taking grandmas deposit and lending it to grandson Max to build a house. The specialty niche is they work closely with crypto retirement product providers, which need a bank to set up a deposit account for them (think KYC etc regulation) and those deposit accounts will always have some leftover deposit in the account after transfer to product providers. Those deposit accounts are huge contribution to their above average Net Interest Margin NIM. They mostly lend to business accounts and have had amazing growth rates & success! Kreighton Reed (unfortunately not with SLRK any more) did an excellent podcast explaining SLRK business model and the vision of scaling it much much bigger and that’s what Jordan Wright quote “… scratching on the tech side of the business that will allow us to scale …” means
The obvious downside is the ownership structure of Michael Quagliano as majority shareholder and the past management shuffles that point to power struggles within the company IMO
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