# EDGAR Filing Document

**Accession Number:** 0001312109
**File Stem:** 0001312109-23-000024
**Filing Date:** 2023-1
**Character Count:** 7349
**Document Hash:** 8c83ae6d31e051db059097b95aea02c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001312109-23-000024.hdr.sgml**: 20230120

**ACCESSION NUMBER**: 0001312109-23-000024

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230120

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230120

**DATE AS OF CHANGE**: 20230120

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Silvergate Capital Corp
- **CENTRAL INDEX KEY:** 0001312109
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39123
- **FILM NUMBER:** 23541453

**BUSINESS ADDRESS:**
- **STREET 1:** 4250 EXECUTIVE SQUARE STE 300
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037
- **BUSINESS PHONE:** (858) 362-6300

**MAIL ADDRESS:**
- **STREET 1:** 4250 EXECUTIVE SQUARE STE 300
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037

?xml version="1.0" ? si-20230120

**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): January 20, 2023

**SILVERGATE CAPITAL CORPORATION** 

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Maryland** | &nbsp;&nbsp;**001-39123** | &nbsp;&nbsp;**33-0227337** |
| &nbsp;&nbsp;(State or other jurisdiction of | &nbsp;&nbsp;(Commission file number) | &nbsp;&nbsp;(IRS Employer |
| &nbsp;&nbsp;incorporation or organization) | | &nbsp;&nbsp;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:

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

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

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

☐&nbsp;&nbsp;&nbsp;&nbsp;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:**

---

| | | |
|:---|:---|:---|
| **<u>Title of Each Class</u>** | **<u>Trading Symbol</u>** | **<u>Name of Each Exchange on Which Registered</u>** |
| 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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐

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. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐

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**ITEM 7.01 REGULATION FD DISCLOSURE.**

On January 20, 2023, Silvergate Capital Corporation (the "Company") issued a press release providing a business update regarding the Company's exposure to Genesis. A copy of the press release is attached hereto as Exhibit 99.1. The press release is also available on the Company's website at https://ir.silvergate.com in the Investor Relations section.

The information furnished under Item 7.01 and Item 9.01, including Exhibit 99.1 hereto, of 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 into any registration statement or other filings of the Company made under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.

**ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.**

(d) Exhibits.

Exhibit

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| | |
|:---|:---|
| <u>Number</u> | <u>Description</u> |
| 99.1 | <u>[Press release dated](ex991businessupdate-genesi.htm)[January 20](ex991businessupdate-genesi.htm)[, 202](ex991businessupdate-genesi.htm)[3](ex991businessupdate-genesi.htm)</u> |
| 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 | SILVERGATE CAPITAL CORPORATION |
| Date: | January 20, 2023 | By: | /s/ Alan J. Lane |
|  |  |  | Alan J. Lane <br>Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![image_0a.jpg](image_0a.jpg)

**Silvergate Provides Statement on Limited Exposure to Genesis** 

1/20/2023

LA JOLLA, Calif.--(BUSINESS WIRE)-- Silvergate Capital Corporation (the "Company" or "Silvergate") (NYSE: SI), the leading provider of innovative financial infrastructure solutions to the digital asset industry, today announced a business update in connection with the recently announced bankruptcy filing by Genesis Global Holdco, LLC and its subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific PTE LTD (collectively, "Genesis").

Silvergate's deposit relationship with Genesis was less than $2.5 million as of both December 31, 2022 and January 19, 2023. Genesis is not a custodian for Silvergate's bitcoin-collateralized SEN Leverage loans and Silvergate has no outstanding loans to nor investments in Genesis.

While this continues to be a turbulent time in the digital asset industry, Silvergate's exposure to Genesis is minimal and customers' deposits are, and have always been, safely held.

**About Silvergate**

Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the 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 digital asset companies and investors around the world. Silvergate is enabling digital asset markets and reshaping global commerce for a digital asset future.

**Contacts**

**Investor Relations:**<br>Edelman Smithfield for Silvergate<br>(858) 200-3782<br><u>investors@silvergate.com</u>

**Media:**<br> Edelman Smithfield for Silvergate<br><u>press@silvergate.com</u>

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