Silvergate Capital suspends Series A Preferred Stock Dividend

Silvergate Capital announced that the Company has suspended the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital. This decision reflects the Company’s focus on maintaining a highly liquid balance sheet with a strong capital position as it navigates recent volatility in the digital asset industry. The Company continues to maintain a cash position in excess of its digital asset customer related deposits. The Company’s Board of Directors will re-evaluate the payment of quarterly dividends as market conditions evolve.