8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 18, 2022

SILVERGATE CAPITAL CORPORATION

(Exact name of registrant as specified in its charter)

Maryland	001-39123	33-0227337
(State or other jurisdiction of	(Commission file number)	(IRS Employer
incorporation or organization)		Identification No.)

4250 Executive Square, Suite 300, La Jolla, CA 92037

(Address of principal executive offices) (Zip Code)

(858) 362-6300

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Class A Common Stock, par value $0.01 per share	SI	New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A	SI PRA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company        ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.             ☐

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ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 18, 2022, Silvergate Capital Corporation (the “Company”) issued a press release announcing the Company’s financial results for the three and nine months ended September 30, 2022. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and hereby incorporated by reference.

The information furnished under Item 2.02, Item 7.01 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.

ITEM 7.01 REGULATION FD DISCLOSURE.

The Company will conduct a conference call at 8:00 a.m (Eastern Time) on October 18, 2022 to discuss its financial results for the three and nine months ended September 30, 2022. A copy of the presentation to be used for the conference call is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit

Number	Description
99.1	Press Release dated October 18, 2022
99.2	Silvergate Capital Corporation 3Q22 Earnings Presentation dated October 18, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		SILVERGATE CAPITAL CORPORATION
Date:	October 18, 2022	By:	/s/ Alan J. Lane
			Alan J. Lane President and Chief Executive Officer

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EX-99.1

Exhibit 99.1

Silvergate Capital Corporation Announces Third Quarter 2022 Results

La Jolla, CA, October 18, 2022 -- Silvergate Capital Corporation (“Silvergate” or “Company”) (NYSE:SI) and its wholly-owned subsidiary, Silvergate Bank (“Bank”), today announced financial results for the three and nine months ended September 30, 2022.

Third Quarter 2022 Highlights

•Net income for the quarter was $43.3 million, compared to $38.6 million for the second quarter of 2022, and $23.5 million for the third quarter of 2021

•Net income available to common shareholders for the quarter was $40.6 million, or $1.28 per diluted common share, compared to net income of $35.9 million, or $1.13 per diluted share, for the second quarter of 2022, and net income of $23.5 million, or $0.88 per diluted share, for the third quarter of 2021

•Digital asset customers grew to 1,677 at September 30, 2022, compared to 1,585 at June 30, 2022, and 1,305 at September 30, 2021

•The Silvergate Exchange Network (“SEN”) handled $112.6 billion of U.S. dollar transfers in the third quarter of 2022, a decrease of 41% compared to $191.3 billion in the second quarter of 2022, and a decrease of 30% compared to $162.0 billion in the third quarter of 2021

•Total SEN Leverage commitments increased to $1.5 billion at September 30, 2022, compared to $1.4 billion at June 30, 2022, and $322.5 million at September 30, 2021

•Digital asset customer related fee income for the quarter was $7.9 million, compared to $8.8 million for the second quarter of 2022, and $8.1 million for the third quarter of 2021

•Average digital asset customer deposits were $12.0 billion during the third quarter of 2022, compared to $13.8 billion during the second quarter of 2022

Alan Lane, president and chief executive officer of Silvergate, commented, “Silvergate delivered another quarter of strong performance, achieving record net income available to common shareholders of $40.6 million. While volumes on the Silvergate Exchange Network (SEN) decreased this quarter compared to the overall industry, we remain confident in the power of our platform and the opportunities for expansion within the network. We continued to see demand for our SEN Leverage product and growth in our new customer pipeline, a testament to the strength of our platform against a challenging backdrop in the broader digital asset industry.”

“We continue to invest in our strategic initiatives, and as we always have, we will balance our culture of innovation with our prudent, risk-based approach to launching new products. I look forward to the rest of this year and remain confident in our path forward as we head into the last quarter of 2022,” Lane added.

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	As of or for the Three Months Ended
	September 30, 2022			June 30, 2022			September 30, 2021
Financial Highlights	(Dollars in thousands, except per share data)
Net income	$	43,328		$	38,605		$	23,492
Net income available to common shareholders	$	40,640		$	35,917		$	23,492
Diluted earnings per common share	$	1.28		$	1.13		$	0.88
Return on average assets (ROAA)(1)	1.04		%	0.89		%	0.75		%
Return on average common equity (ROACE)(1)	12.99		%	10.99		%	10.45		%
Net interest margin(1)(2)	2.31		%	1.96		%	1.26		%
Cost of deposits(1)	0.16		%	0.00		%	0.00		%
Cost of funds(1)	0.28		%	0.03		%	0.01		%
Efficiency ratio(3)	37.11		%	38.30		%	43.20		%
Total assets	$	15,467,340		$	15,900,494		$	12,776,621
Total deposits	$	13,238,426		$	13,500,720		$	11,662,520
Book value per common share	$	35.94		$	38.86		$	33.10
Tier 1 leverage ratio	10.71		%	10.02		%	8.71		%
Total risk-based capital ratio	46.63		%	45.58		%	47.78		%

________________________

(1)Data has been annualized.

(2)Net interest margin is a ratio calculated as net interest income, on a fully taxable equivalent basis for interest income on tax-exempt securities using the federal statutory tax rate of 21.0%, divided by average interest earning assets for the same period.

(3)Efficiency ratio is calculated by dividing noninterest expenses by net interest income plus noninterest income.

Digital Asset Initiative

At September 30, 2022, the Company’s digital asset customers increased to 1,677 from 1,585 at June 30, 2022, and from 1,305 at September 30, 2021. At September 30, 2022, prospective digital asset customer leads in various stages of the customer onboarding process and pipeline were above 300. For the third quarter of 2022, $112.6 billion of U.S. dollar transfers occurred on the SEN, a 41% decrease from $191.3 billion transfers in the second quarter of 2022, and a decrease of 30% compared to $162.0 billion in the third quarter of 2021.

Results of Operations, Quarter Ended September 30, 2022

Net Interest Income and Net Interest Margin Analysis (Taxable Equivalent Basis)

The Company’s securities portfolio includes tax-exempt municipal bonds with tax-exempt income from these securities calculated and presented below on a taxable equivalent basis. Net interest income, net interest spread and net interest margin are presented on a taxable equivalent basis to consistently reflect income from taxable securities and tax-exempt securities based on the federal statutory tax rate of 21.0%.

Net interest income on a taxable equivalent basis totaled $84.7 million for the third quarter of 2022, compared to $74.5 million for the second quarter of 2022, and $39.0 million for the third quarter of 2021.

Compared to the second quarter of 2022, net interest income increased $10.2 million due to increased interest income driven by higher yields across the majority of interest earning asset categories, partially offset by increased interest expense. Average total interest earning assets decreased by $0.7 billion for the third quarter of 2022 compared to the second quarter of 2022, primarily due to decreased securities and loans balances. The average yield on interest earning assets increased from 1.99% for the second quarter of 2022 to 2.58% for the third quarter of 2022, with the most significant impacts due to higher yields on securities and interest earning deposits in other banks. The yield on securities increased from 1.66% in the second quarter 2022 to 2.21% in the third quarter of 2022 due to an increase in market interest rates. Average interest bearing liabilities increased $1.3 billion for the third quarter of 2022 compared to the second quarter of 2022, due to the utilization of brokered certificates of deposit and higher average balances of FHLB advances. The average rate on total interest bearing liabilities increased from 0.87% for the second quarter of 2022 to 2.19% for the third quarter of 2022, primarily due to

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interest expense associated with recently issued brokered certificates of deposit and an increase in interest rates on FHLB advances.

Compared to the third quarter of 2021, net interest income increased $45.7 million due to increased interest income, with the largest driver being higher yields on interest earning assets, partially offset by increased interest expense. Average total interest earning assets increased by $2.3 billion for the third quarter of 2022 compared to the third quarter of 2021, primarily due to increased securities balances partially offset by a decrease in interest earning deposits in other banks. The average yield on total interest earning assets increased from 1.27% for the third quarter of 2021 to 2.58% for the third quarter of 2022, primarily due to overall higher yields resulting from increased interest rates. Average interest bearing liabilities increased $1.7 billion for the third quarter of 2022 compared to the third quarter of 2021, due to the recent utilization of brokered certificates of deposit as well as higher average FHLB advances. The average rate on total interest bearing liabilities increased from 1.17% for the third quarter of 2021 to 2.19% for the third quarter of 2022, primarily due to the impact of increased interest rates on short-term borrowings.

Net interest margin for the third quarter of 2022 was 2.31%, compared to 1.96% for the second quarter of 2022, and 1.26% for the third quarter of 2021. The increase in net interest margin compared to the second quarter of 2022 was primarily due to higher yields on adjustable rate securities and interest earning deposits in other banks reflecting the increasing interest rate environment, partially offset by higher borrowing costs associated with brokered certificates of deposit and FHLB advances as well as net expense from derivatives. The increase in net interest margin compared to the third quarter of 2021 was primarily due to higher yields on adjustable rate securities, partially offset by higher borrowing costs associated with brokered certificates of deposit and FHLB advances.

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	Three Months Ended
	September 30, 2022						June 30, 2022						September 30, 2021
	Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate		Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate		Average Outstanding Balance		Interest Income/ Expense		Average Yield/ Rate
	(Dollars in thousands)
Assets
Interest earning assets:
Interest earning deposits in other banks	$	1,324,361	$	8,001	2.40	%	$	1,458,173	$	3,008	0.83	%	$	4,104,776	$	1,755	0.17	%
Taxable securities	8,868,639		47,401		2.12	%	9,058,960		30,986		1.37	%	5,449,202		14,000		1.02	%
Tax-exempt securities(1)	2,889,391		18,243		2.50	%	2,992,038		18,759		2.51	%	1,187,452		6,347		2.12	%
Loans(2)(3)	1,407,290		20,663		5.83	%	1,689,852		22,054		5.23	%	1,493,590		16,972		4.51	%
Other	62,835		289		1.82	%	58,852		719		4.90	%	31,028		195		2.49	%
Total interest earning assets	14,552,516		94,597		2.58	%	15,257,875		75,526		1.99	%	12,266,048		39,269		1.27	%
Noninterest earning assets	942,110						1,010,486						197,477
Total assets	$	15,494,626					$	16,268,361					$	12,463,525
Liabilities and Shareholders’ Equity
Interest bearing liabilities:
Interest bearing deposits	$	1,000,615	$	5,221	2.07	%	$	68,128	$	2	0.01	%	$	76,898	$	26	0.13	%
FHLB advances and other borrowings	769,565		4,399		2.27	%	397,810		796		0.80	%	1		—		0.00	%
Subordinated debentures	15,854		258		6.46	%	15,850		243		6.15	%	15,839		247		6.19	%
Total interest bearing liabilities	1,786,034		9,878		2.19	%	481,788		1,041		0.87	%	92,738		273		1.17	%
Noninterest bearing liabilities:
Noninterest bearing deposits	12,139,522						13,951,397						11,305,650
Other liabilities	134,164						330,658						50,657
Shareholders’ equity	1,434,906						1,504,518						1,014,480
Total liabilities and shareholders’ equity	$	15,494,626					$	16,268,361					$	12,463,525
Net interest spread(4)					0.39	%					1.12	%					0.10	%
Net interest income, taxable equivalent basis			$	84,719					$	74,485					$	38,996
Net interest margin(5)					2.31	%					1.96	%					1.26	%
Reconciliation to reported net interest income:
Adjustments for taxable equivalent basis			(3,831)						(3,939)						(1,333)
Net interest income, as reported			$	80,888					$	70,546					$	37,663

________________________

(1)Interest income on tax-exempt securities is presented on a taxable equivalent basis using the federal statutory tax rate of 21.0% for all periods presented.

(2)Loans include nonaccrual loans and loans held-for-sale, net of deferred fees and before allowance for loan losses.

(3)Interest income includes amortization of deferred loan fees, net of deferred loan costs.

(4)Net interest spread is the difference between interest rates earned on interest earning assets and interest rates paid on interest bearing liabilities.

(5)Net interest margin is a ratio calculated as annualized net interest income, on a taxable equivalent basis, divided by average interest earning assets for the same period.

Provision (Reversal) for Loan Losses

The Company recorded a $0.6 million reversal of provision for loan losses for the third quarter of 2022, compared to no provision for the second quarter of 2022 or for the third quarter of 2021 as a result of management’s assessment of the level of the allowance for loan losses, and the amount and mix of the loan portfolio, among other factors.

Noninterest Income

Noninterest income for the third quarter of 2022 was $8.5 million, a decrease of $0.8 million, or 8.2%, from the second quarter of 2022. The primary reasons for this decrease were a $0.9 million, or 9.7%, decrease in deposit related fees and a $0.3 million loss on sale of loans, offset by a $0.3 million increase in other income. During the third quarter of 2022, the Company sold approximately $3.6 million of one-to-four family real estate loans and recognized a loss on sale of $0.3 million.

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Noninterest income for the third quarter of 2022 decreased by $5.6 million, or 39.8%, compared to the third quarter of 2021. This decrease was primarily due to a $5.2 million gain on sale of securities in the third quarter of 2021.

	Three Months Ended
	September 30, 2022		June 30, 2022		September 30, 2021
	(Dollars in thousands)
Noninterest income:
Deposit related fees	$	7,953	$	8,808	$	8,171
Mortgage warehouse fee income	482		555		665
(Loss) gain on sale of securities, net	—		(199)		5,182
Loss on sale of loans, net	(329)		—		—
Other income	348		50		24
Total noninterest income	$	8,454	$	9,214	$	14,042

Noninterest Expense

Noninterest expense totaled $33.2 million for the third quarter of 2022, an increase of $2.6 million, or 8.5%, compared to the second quarter of 2022, and an increase of $10.8 million, or 48.4%, compared to the third quarter of 2021. The increase in noninterest expense compared to the prior quarter was primarily due to an increase in salaries and benefits expense attributable to increased headcount as part of organic growth to support the Company’s strategic initiatives. Other general and administrative expenses in the second quarter of 2022 included a $1.6 million reversal of the provision for off-balance sheet commitments. The increase in noninterest expense from the third quarter of 2021 was primarily driven by an increase in salaries and employee benefits attributable to increased headcount as well as increases in communications and data processing, and professional services, all of which support organic growth and the Company’s strategic initiatives. This was partially offset by a decrease in federal deposit insurance expense due to a lower growth rate in deposit levels.

	Three Months Ended
	September 30, 2022		June 30, 2022		September 30, 2021
	(Dollars in thousands)
Noninterest expense:
Salaries and employee benefits	$	19,632	$	16,356	$	10,729
Occupancy and equipment	822		1,063		523
Communications and data processing	3,210		2,967		1,793
Professional services	4,314		6,280		2,471
Federal deposit insurance	1,217		1,495		4,297
Correspondent bank charges	902		801		572
Other loan expense	529		682		299
Other general and administrative	2,527		908		1,655
Total noninterest expense	$	33,153	$	30,552	$	22,339

Income Tax Expense

Income tax expense was $13.5 million for the third quarter of 2022, compared to $10.6 million for the second quarter of 2022, and $5.9 million for the third quarter of 2021. Our effective tax rate for the third quarter of 2022 was 23.7%, compared to 21.5% for the second quarter of 2022, and 20.0% for the third quarter of 2021. The increase in the tax expense and effective tax rate for the third quarter of 2022 compared to the second quarter of 2022 was driven by the increase in overall earnings in proportion to tax-exempt income earned on certain municipal bonds which remained relatively consistent.

Balance Sheet

Deposits

At September 30, 2022, deposits totaled $13.2 billion, a decrease of $262.3 million, or 1.9%, from June 30, 2022, and an increase of $1.6 billion, or 13.5%, from September 30, 2021. Noninterest bearing deposits totaled $12.0 billion,

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representing approximately 90.7% of total deposits at September 30, 2022, a decrease of $1.4 billion from the prior quarter end, and a $0.4 billion increase compared to September 30, 2021. At September 30, 2022, the Company held $1.2 billion of brokered certificates of deposits that were issued during the third quarter of 2022.

Our continued growth has been accompanied by significant fluctuations in the levels of our deposits, in particular our deposits from customers operating in the digital asset industry. The Bank’s average total deposits from digital asset customers during the third quarter of 2022 amounted to $12.0 billion, with the high and low daily totals of these deposit levels during such time being $14.0 billion and $11.1 billion, respectively, compared to an average of $13.8 billion during the second quarter of 2022, and high and low daily deposit levels of $17.6 billion and $12.6 billion, respectively.

Demand for new deposit accounts is generated by the Company’s banking platform for innovators that includes the SEN, which is enabled through Silvergate’s proprietary API, and other cash management solutions. These tools enable Silvergate’s customers to grow their businesses and scale operations. The following table sets forth a breakdown of the Company’s digital asset customer base and the deposits held by such customers at the dates noted below:

	September 30, 2022			June 30, 2022			September 30, 2021
	Number of Customers	Total Deposits(1)		Number of Customers	Total Deposits(1)		Number of Customers	Total Deposits(1)
	(Dollars in millions)
Digital asset exchanges	108	$	7,579	102	$	8,133	94	$	6,759
Institutional investors	1,069	3,043		1,017	3,293		830	3,344
Other customers	500	1,247		466	1,879		381	1,365
Total	1,677	$	11,869	1,585	$	13,304	1,305	$	11,468

________________________

(1)Total deposits may not foot due to rounding.

The weighted average cost of deposits for the third quarter of 2022 was 0.16%, compared to 0.00% for the second quarter of 2022 and the third quarter of 2021. The increase in the weighted average cost of deposits in the third quarter of 2022 was due to the issuance of brokered certificates of deposit.

	Three Months Ended
	September 30, 2022				June 30, 2022				September 30, 2021
	Average Balance		Average Rate		Average Balance		Average Rate		Average Balance		Average Rate
	(Dollars in thousands)
Noninterest bearing demand accounts	$	12,139,522	—		$	13,951,397	—		$	11,305,650	—
Interest bearing accounts:
Interest bearing demand accounts	3,470		0.00	%	3,250		0.00	%	8,597		0.05	%
Money market and savings accounts	49,720		0.00	%	64,456		0.01	%	67,735		0.14	%
Certificates of deposit	947,425		2.19	%	422		0.95	%	566		0.70	%
Total interest bearing deposits	1,000,615		2.07	%	68,128		0.01	%	76,898		0.13	%
Total deposits	$	13,140,137	0.16	%	$	14,019,525	0.00	%	$	11,382,548	0.00	%

Loan Portfolio

Total loans, including net loans held-for-investment and loans held-for-sale, were $1.4 billion at September 30, 2022, a decrease of $74.3 million, or 5.1%, from June 30, 2022, and a decrease of $235.8 million, or 14.5%, from September 30, 2021. During the third quarter of 2022, the Company sold $3.6 million of gross one-to-four family real estate loans and transferred an additional $33.9 million of gross one-to-four family loans to held-for-sale.

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	September 30, 2022		June 30, 2022		September 30, 2021
	(Dollars in thousands)
Real estate loans:
One-to-four family	$	37,636	$	82,671	$	119,817
Multi-family	9,028		8,827		54,636
Commercial	63,979		69,637		250,295
Construction	—		—		6,046
Commercial and industrial(1)	302,160		302,610		254,624
Reverse mortgage and other	1,270		1,110		1,385
Mortgage warehouse	58,760		136,485		128,975
Total gross loans held-for-investment	472,833		601,340		815,778
Deferred fees, net	(1,871)		(2,227)		883
Total loans held-for-investment	470,962		599,113		816,661
Allowance for loan losses	(3,176)		(4,442)		(6,916)
Loans held-for-investment, net	467,786		594,671		809,745
Loans held-for-sale(2)	924,644		872,056		818,447
Total loans	$	1,392,430	$	1,466,727	$	1,628,192

________________________

(1)Commercial and industrial loans includes $302.2 million, $302.6 million and $254.5 million of SEN Leverage loans as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

(2)Loans held-for-sale includes $891.5 million, $872.1 million and $818.4 million of mortgage warehouse loans as of September 30, 2022, June 30, 2022 and September 30, 2021, respectively.

Asset Quality and Allowance for Loan Losses

The allowance for loan losses was $3.2 million at September 30, 2022, compared to $4.4 million at June 30, 2022 and $6.9 million at September 30, 2021. The ratio of the allowance for loan losses to total loans held-for-investment at September 30, 2022 was 0.67%, compared to 0.74% and 0.85% at June 30, 2022 and September 30, 2021, respectively.

Nonperforming assets totaled $3.7 million, or 0.02% of total assets, at September 30, 2022, a decrease of $26.0 thousand from $3.8 million, or 0.02% of total assets at June 30, 2022. Nonperforming assets decreased $2.0 million, from $5.8 million, or 0.05%, of total assets at September 30, 2021.

	September 30, 2022			June 30, 2022			September 30, 2021
Asset Quality	(Dollars in thousands)
Nonperforming Assets:
Nonaccrual loans	$	3,698		$	3,724		$	5,781
Troubled debt restructurings	$	1,623		$	1,619		$	1,867
Other real estate owned, net	$	45		$	45		—
Nonperforming assets	$	3,743		$	3,769		$	5,781
Asset Quality Ratios:
Nonperforming assets to total assets	0.02		%	0.02		%	0.05		%
Nonaccrual loans to total loans(1)	0.79		%	0.62		%	0.71		%
Net charge-offs to average total loans(1)	0.09		%	0.00		%	0.00		%
Allowance for loan losses to total loans(1)	0.67		%	0.74		%	0.85		%
Allowance for loan losses to nonaccrual loans	85.88		%	119.28		%	119.63		%

________________________

(1)Loans exclude loans held-for-sale at each of the dates presented.

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Securities

The total securities portfolio decreased $0.4 billion, or 3.3%, from $11.8 billion at June 30, 2022, and increased $4.2 billion, or 57.9%, from $7.2 billion at September 30, 2021, to $11.4 billion at September 30, 2022. As of September 30, 2021, securities classified as held-to-maturity remained flat from prior quarter at $3.1 billion.

Capital Ratios

At September 30, 2022, the Company’s ratio of common equity to total assets was 7.36%, compared with 7.73% at June 30, 2022, and 6.88% at September 30, 2021. At September 30, 2022, the Company’s book value per common share was $35.94, compared to $38.86 at June 30, 2022, and $33.10 at September 30, 2021. The decrease in the Company’s book value per common share from June 30, 2022 was due to an increase in accumulated other comprehensive loss of $133.9 million.

At September 30, 2022, the Company had a tier 1 leverage ratio of 10.71%, common equity tier 1 capital ratio of 40.72%, tier 1 risk-based capital ratio of 46.54% and total risk-based capital ratio of 46.63%.

At September 30, 2022, the Bank had a tier 1 leverage ratio of 10.45%, common equity tier 1 capital ratio of 45.45%, tier 1 risk-based capital ratio of 45.45% and total risk-based capital ratio of 45.53%. These capital ratios each exceeded the “well capitalized” standards defined by federal banking regulations of 5.00% for tier 1 leverage ratio, 6.5% for common equity tier 1 capital ratio, 8.00% for tier 1 risk-based capital ratio and 10.00% for total risk-based capital ratio.

Capital Ratios(1)	September 30, 2022		June 30, 2022		September 30, 2021
The Company
Tier 1 leverage ratio	10.71	%	10.02	%	8.71	%
Common equity tier 1 capital ratio	40.72	%	39.64	%	38.30	%
Tier 1 risk-based capital ratio	46.54	%	45.45	%	47.47	%
Total risk-based capital ratio	46.63	%	45.58	%	47.78	%
Common equity to total assets	7.36	%	7.73	%	6.88	%
The Bank
Tier 1 leverage ratio	10.45	%	9.94	%	8.24	%
Common equity tier 1 capital ratio	45.45	%	45.12	%	44.89	%
Tier 1 risk-based capital ratio	45.45	%	45.12	%	44.89	%
Total risk-based capital ratio	45.53	%	45.24	%	45.20	%

________________________

(1)September 30, 2022 capital ratios are preliminary.

Subsequent Event

On October 11, 2022, the Company’s board of directors declared a quarterly dividend payment of $13.44 per share, equivalent to $0.336 per depositary share, on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), for the period covering August 15, 2022 through November 14, 2022, for a total dividend of $2.7 million. The depositary shares representing the Series A Preferred Stock are traded on the New York Stock Exchange under the symbol “SI PRA.” The dividend will be payable on November 15, 2022 to shareholders of record of the Series A Preferred Stock as of October 28, 2022.

Conference Call and Webcast

The Company will host a conference call on Tuesday, October 18, 2022 at 11:00 a.m. (Eastern Time) to present and discuss third quarter 2022 financial results. The conference call can be accessed live by dialing 1-844-200-6205 or for international callers, 1-929-526-1599, entering the access code 636898. A replay will be available starting at 1:00 p.m. (Eastern Time) on October 18, 2022 and can be accessed by dialing 1-866-813-9403, or for international callers +44-204-525-0658. The passcode for the replay is 590370. The replay will be available until 11:59 p.m. (Eastern Time) on November 1, 2022.

Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of the Company's website at https://ir.silvergate.com. The online replay will remain available for a limited time beginning immediately following the call.

8

About Silvergate

Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the growing digital asset industry. The Company’s real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital asset companies and investors around the world. Silvergate is enabling the rapid growth of digital asset markets and reshaping global commerce for a digital asset future.

Forward Looking Statements

Statements in this earnings release may constitute forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “projection,” “forecast,” “goal,” “target,” “would,” “aim” and “outlook,” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry and management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. The inclusion of these forward-looking statements should not be regarded as a representation by us or any other person that such expectations, estimates and projections will be achieved. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. For information about other important factors that could cause actual results to differ materially from those discussed in the forward-looking statements contained in this release, please refer to the Company's public reports filed with the U.S. Securities and Exchange Commission.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: changes in general economic, political, or industry conditions; geopolitical concerns, including the ongoing war in Ukraine; the magnitude and duration of the COVID-19 pandemic and related variants and mutations and their impact on the global economy and financial market conditions and our business, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; the transition away from USD LIBOR and uncertainty regarding potential alternative reference rates, including SOFR; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities,digital currencies and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national, or global level; and other factors that may affect our future results.

Any forward-looking statement speaks only as of the date of this earnings release, and we do not undertake any obligation to publicly update or review any forward-looking statement, whether because of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for us to predict their occurrence. In addition, we cannot assess the impact of each risk and uncertainty on our business or the extent to which any risk or uncertainty, or combination of risks and uncertainties, may cause actual results to differ materially from those contained in any forward-looking statements.

Investor Relations Contact:

Hunter Stenback / Ashna Vasa

858-200-3782

investors@silvergate.com

Source: Silvergate Capital Corporation

9

SILVERGATE CAPITAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(In Thousands)

(Unaudited)

	September 30, 2022		June 30, 2022		March 31, 2022		December 31, 2021		September 30, 2021
ASSETS
Cash and due from banks	$	465,853	$	256,378	$	207,304	$	208,193	$	168,628
Interest earning deposits in other banks	1,420,970		1,637,410		1,178,205		5,179,753		3,615,860
Cash and cash equivalents	1,886,823		1,893,788		1,385,509		5,387,946		3,784,488
Securities available-for-sale, at fair value	8,317,247		8,686,307		9,463,494		8,625,259		7,234,216
Securities held-to-maturity, at amortized cost	3,104,557		3,131,321		2,751,625		—		—
Loans held-for-sale, at lower of cost or fair value	924,644		872,056		937,140		893,194		818,447
Loans held-for-investment, net of allowance for loan losses	467,786		594,671		739,014		887,304		809,745
Other investments	60,428		63,456		61,719		34,010		34,010
Accrued interest receivable	78,799		72,463		62,573		40,370		32,154
Premises and equipment, net	3,518		3,328		1,678		3,008		1,483
Intangible assets	194,045		190,455		189,977		—		—
Derivative assets	153,990		104,995		46,415		34,056		37,210
Safeguarding assets	—		52,838		243,769		—		—
Other assets	275,503		234,816		158,869		100,348		24,868
Total assets	$	15,467,340	$	15,900,494	$	16,041,782	$	16,005,495	$	12,776,621
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Noninterest bearing demand accounts	$	12,005,719	$	13,436,017	$	13,323,535	$	14,213,472	$	11,586,318
Interest bearing accounts	1,232,707		64,703		72,627		77,156		76,202
Total deposits	13,238,426		13,500,720		13,396,162		14,290,628		11,662,520
Federal home loan bank advances	700,000		800,000		800,000		—		—
Subordinated debentures, net	15,855		15,852		15,848		15,845		15,841
Safeguarding liabilities	—		52,838		243,769		—		—
Accrued expenses and other liabilities	181,714		107,865		39,507		90,186		26,179
Total liabilities	14,135,995		14,477,275		14,495,286		14,396,659		11,704,540
Commitments and contingencies
Preferred stock	2		2		2		2		2
Class A common stock	317		316		316		304		265
Class B non-voting common stock(1)	—		—		—		—		—
Additional paid-in capital	1,555,996		1,554,627		1,553,547		1,421,592		891,611
Retained earnings	295,115		254,475		218,558		193,860		175,485
Accumulated other comprehensive (loss) income	(520,085)		(386,201)		(225,927)		(6,922)		4,718
Total shareholders’ equity	1,331,345		1,423,219		1,546,496		1,608,836		1,072,081
Total liabilities and shareholders’ equity	$	15,467,340	$	15,900,494	$	16,041,782	$	16,005,495	$	12,776,621

________________________

(1)Effective June 14, 2022, Class B non-voting common stock was cancelled and its authorized shares reallocated to Class A common stock following a shareholder approved amendment to the Company’s articles of incorporation.

10

SILVERGATE CAPITAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In Thousands, Except Per Share Data)

(Unaudited)

	Three Months Ended						Nine Months Ended
	September 30, 2022		June 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Interest income
Loans, including fees	$	20,663	$	22,054	$	16,972	$	61,004	$	50,727
Taxable securities	47,401		30,986		14,000		96,166		25,916
Tax-exempt securities	14,412		14,820		5,014		42,416		9,832
Other interest earning assets	8,001		3,008		1,755		12,394		4,633
Dividends and other	289		719		195		1,211		804
Total interest income	90,766		71,587		37,936		213,191		91,912
Interest expense
Deposits	5,221		2		26		5,244		107
Federal home loan bank advances and other	4,399		796		—		5,265		—
Subordinated debentures	258		243		247		753		744
Total interest expense	9,878		1,041		273		11,262		851
Net interest income before provision for loan losses	80,888		70,546		37,663		201,929		91,061
Reversal of provision for loan losses	(601)		—		—		(3,075)		—
Net interest income after provision for loan losses	81,489		70,546		37,663		205,004		91,061
Noninterest income
Deposit related fees	7,953		8,808		8,171		25,729		26,603
Mortgage warehouse fee income	482		555		665		1,688		2,372
(Loss) gain on sale of securities, net	—		(199)		5,182		(804)		5,182
Loss on sale of loans, net	(329)		—		—		(329)		—
Other income	348		50		24		834		44
Total noninterest income	8,454		9,214		14,042		27,118		34,201
Noninterest expense
Salaries and employee benefits	19,632		16,356		10,729		51,532		31,979
Occupancy and equipment	822		1,063		523		2,471		1,736
Communications and data processing	3,210		2,967		1,793		8,939		5,210
Professional services	4,314		6,280		2,471		13,548		6,782
Federal deposit insurance	1,217		1,495		4,297		4,474		10,437
Correspondent bank charges	902		801		572		2,531		1,881
Other loan expense	529		682		299		1,595		753
Other general and administrative	2,527		908		1,655		6,633		4,686
Total noninterest expense	33,153		30,552		22,339		91,723		63,464
Income before income taxes	56,790		49,208		29,366		140,399		61,798
Income tax expense	13,462		10,603		5,874		31,080		4,661
Net income	43,328		38,605		23,492		109,319		57,137
Dividends on preferred stock	2,688		2,688		—		8,064		—
Net income available to common shareholders	$	40,640	$	35,917	$	23,492	$	101,255	$	57,137
Basic earnings per common share	$	1.28	$	1.14	$	0.89	$	3.21	$	2.29
Diluted earnings per common share	$	1.28	$	1.13	$	0.88	$	3.20	$	2.26
Weighted average common shares outstanding:
Basic	31,655		31,635		26,525		31,505		24,927
Diluted	31,803		31,799		26,766		31,669		25,308

11

EX-99.2

Silvergate Capital Corporation 3Q22 EARNINGS PRESENTATION OCTOBER 18, 2022 Exhibit 99.2

2 Forward Looking Statements This presentation contains forward looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Company operations and policies and regarding general economic conditions. In some cases, forward-looking statements can be identified by the use of words such as “may,” “will,” “anticipates,” “believes,” “expects,” “plans,” “estimates,” “potential,” “continue,” “should,” and similar words or phrases. These statements are based upon current and anticipated economic conditions, nationally and in the Company’s market, interest rates and interest rate policy, competitive factors and other conditions which by their nature, are not susceptible to accurate forecast and are subject to significant uncertainty. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in the Company’s periodic and current reports filed with the U.S. Securities and Exchange Commission. Because of these uncertainties and the assumptions on which this presentation and the forward-looking statements are based, actual future operations and results may differ materially from those indicated herein. Readers are cautioned against placing undue reliance on any such forward-looking statements. The Company’s past results are not necessarily indicative of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements: changes in general economic, political, or industry conditions; geopolitical concerns, including the ongoing war in Ukraine; the magnitude and duration of the COVID-19 pandemic and related variants and mutations and their impact on the global economy and financial market conditions and our business, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Board of Governors of the Federal Reserve System; inflation/deflation, interest rate, market, and monetary fluctuations; volatility and disruptions in global capital and credit markets; the transition away from USD LIBOR and uncertainty regarding potential alternative reference rates, including SOFR; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services; the impact of changes in financial services policies, laws, and regulations, including those concerning taxes, banking, securities, digital currencies and insurance, and the application thereof by regulatory bodies; cybersecurity threats and the cost of defending against them, including the costs of compliance with potential legislation to combat cybersecurity at a state, national, or global level; and other factors that may affect our future results. The Company does not undertake to publicly revise or update forward-looking statements in this presentation to reflect events or circumstances that arise after the date of this presentation, except as may be required under applicable law. The Company makes no representation that subsequent to delivery of the presentation it was not altered. For the most current, accurate information, please refer to the investor relations section of the Company's website at https://ir.silvergatebank.com. Silvergate “Silvergate Bank” and its logos and other trademarks referred to and included in this presentation belong to us. Solely for convenience, we refer to our trademarks in this presentation without the ® or the ™ or symbols, but such references are not intended to indicate that we will not fully assert under applicable law our trademark rights. Other service marks, trademarks and trade names referred to in this presentation, if any, are the property of their respective owners, although for presentational convenience we may not use the ® or the ™ symbols to identify such trademarks. In this presentation, we refer to Silvergate Capital Corporation as “Silvergate” or the “Company” and to Silvergate Bank as the “Bank”.

3 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: Platform fueled by powerful network effects DIGITAL ASSET CUSTOMERS 1,305 1,381 1,503 1,585 1,677 3Q21 4Q21 1Q22 2Q22 3Q22 $162 $219 $142 $191 $113 3Q21 4Q21 1Q22 2Q22 3Q22 $8.1 $9.3 $8.9 $8.8 $7.9 3Q21 4Q21 1Q22 2Q22 3Q22 $323 $571 $1,070 $1,367 $1,493 3Q21 4Q21 1Q22 2Q22 3Q22 Note: Transaction revenue represents fee income from digital asset customers. SEN Leverage balances reflect total commitments. ($ in billions) ($ in millions)($ in millions) SEN TRANSFERS SEN LEVERAGETRANSACTION REVENUE

4 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: BLOCKCHAIN TECHNOLOGYSILVERGATE EXCHANGE NETWORK (SEN) REAL-TIME 24/7 PROGRAMMATIC SETTLEMENT DIGITAL ASSET MARKETS A new asset class ~$1 trillion in market value GLOBAL COMMERCE A new method of payment ~$67 trillion of annual volume by 2025 Note: Digital asset market value is approximate global cryptocurrency market value as of October 10, 2022 from CoinMarketCap. Global commerce payment volume forecasted data published March 2, 2022 by FIS. Powering the digital asset markets and reshaping global commerce

5 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: 3Q22 financial results $40.6M +13% vs PQ +73% vs PY Net Income Available to Common Shareholders $89.3M +12% vs PQ +73% vs PY Revenue 10.71% +7% vs PQ +23% vs PY Tier 1 Leverage Ratio $1.28 +13% vs PQ +45% vs PY Diluted EPS $33.2M +9% vs PQ +48% vs PY Noninterest Expense $15.5B -3% vs PQ +21% vs PY Total Assets Note: Revenue represents net interest income and noninterest income.

6 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: Digital asset deposits DIGITAL ASSET DEPOSIT TRENDS $12.6 $16.0 $16.2 $17.6 $14.0 $9.8 $10.2 $13.2 $12.6 $11.1 $11.2 $13.3 $14.7 $13.8 $12.0 High and low digital asset deposits Average digital asset deposits 3Q21 4Q21 1Q22 2Q22 3Q22 ($ in billions) COMMENTARY ▪ Average digital asset deposits are up year-over- year and down sequentially, with the range between the high and low point narrowing, reflecting lower volatility ▪ The annualized cost of digital asset deposits was 0.00% in 3Q22, reflecting the Company's digital asset deposit gathering strategy

7 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: Real estate and other 10.1% Mortgage warehouse 68.2% SEN Leverage 21.7% Asset composition and net interest income SECURITIES COMPOSITION – 74% OF TOTAL ASSETS LOAN COMPOSITION – 9% OF TOTAL ASSETS Note: Data as of September 30, 2022. Securities and loan yields are for 3Q22. Yields and net interest margin have been annualized. Residential (MBS/CMO) 31.3% Commercial (MBS/CMO) 16.0% Asset backed securities 1.8% Municipal bonds 27.4% U.S. treasuries 11.2% U.S. agency securities 12.3% $11.4B Yield: 2.21% $1.4B Yield: 5.83% $37.7 $38.2 $50.5 $70.5 $80.9 1.26% 1.11% 1.36% 1.96% 2.31% Net interest income before provision, as reported Net interest margin, taxable equivalent basis 3Q21 4Q21 1Q22 2Q22 3Q22 NET INTEREST INCOME AND MARGIN ($ in millions) COMMENTARY ▪ 63% of interest earning assets are adjustable rate ▪ 40% of interest earning assets are hedged to mitigate interest rate risk ▪ For each +25bps increase in interest rates, net interest income is estimated to increase approximately $16 million over a 12- month period (based on a static balance sheet rate shock)

8 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: Noninterest income NONINTEREST INCOME $14.0 $11.1 $9.5 $9.2 $8.5 $8.1 $9.3 $8.9 $8.8 $7.9 $5.9 $1.7 $0.5 $0.5 $0.5 Other noninterest income, net Fee income from digital asset customers 3Q21 4Q21 1Q22 2Q22 3Q22 ($ in millions) COMMENTARY ▪ 3Q22 fee income from digital currency customers down slightly compared to the prior quarter as a result of a challenging digital asset ecosystem, but remained relatively stable compared to the prior year ▪ Other noninterest income consists primarily of mortgage warehouse fee income and other gains and losses Note: Totals may not foot due to rounding.

9 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: Noninterest expense NONINTEREST EXPENSE $10.7 $13.8 $15.5 $16.4 $19.6 $1.8 $1.9 $2.8 $3.0 $3.2 $2.5 $3.0 $3.0 $6.3 $4.3 $7.3 $7.0 $6.8 $4.9 $6.0 $22.3 $25.7 $28.0 $30.6 $33.2 Salaries/employee benefits Communications/data Professional services Other 3Q21 4Q21 1Q22 2Q22 3Q22 ($ in millions) Note: Totals may not foot due to rounding. COMMENTARY ▪ 3Q22 noninterest expense up 9% versus 2Q22 and 48% versus 3Q21 attributable to increased ongoing investments related to strategic growth initiatives ▪ Other primarily includes FDIC insurance expense and in 2Q22, a $1.6M reversal of provision for off-balance sheet SEN Leverage commitments ▪ Full year 2022 noninterest expense expected to be approximately $130-140 million, excluding intangible amortization

10 OBSIDIAN R01 G05 B00 HEX#010500 TUNGSTEN R41 G42 B44 HEX #292a2c SEAFOAM R146 G183 B188 HEX #92b7bc MARINE LAYER R221 G228 B231 HEX #dde4e7 SOLAR WHITE R255 G255 B255 HEX #ffffff TUNGSTEN 50% Lighter R145 G148 B152 HEX #919498 SEAFOAM 40% Lighter R181 G205 B208 HEX #b5cdd0 Only use these if additional colors are needed: THE NETWORK EFFECTS OF THE SEN: ▪ Reinforce the strength of our product offerings ▪ Create a platform to launch new customer solutions ▪ Enable high-quality revenue streams LENDING FUNDING Payments Infrastructure Foreign Exchange Cash Management SEN Leverage Digital Asset Custody Deposit Account Services Silvergate Exchange Network PAYMENTS Asset Management Network effects of the SEN create multiple avenues for growth

XML

Cover Page	Oct. 18, 2022
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Oct. 18, 2022
Entity Incorporation, State or Country Code	MD
Entity File Number	001-39123
Entity Registrant Name	SILVERGATE CAPITAL CORPORATION
Entity Tax Identification Number	33-0227337
Entity Address, Address Line One	4250 Executive Square
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	La Jolla
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92037
City Area Code	858
Local Phone Number	362-6300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0001312109
Class A Common Stock, par value $0.01 per share
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	SI
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	SI PRA
Security Exchange Name	NYSE