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II Silvergate Exhibit 99.1 Silvergate Capital Corporation Announces Third Quarter 2021 Results La Jolla , CA , October 19 , 2021 -- 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 , 2021 . Third Quarter 2021 Highlights • . Net income available to common shareholders for the quarter was $ 23.5 million , or $ 0.88 per diluted share , compared to net income of $ 20.9 million , or $ 0.80 per diluted share , for the second quarter of 2021 , and net income of $ 7.1 million , or $ 0.37 per diluted share , for the third quarter of 2020 The Silvergate Exchange Network ( " SEN " ) handled $ 162.0 billion of U.S. dollar transfers in the third quarter of 2021 , a decrease of 32 % compared to $ 239.6 billion in the second quarter of 2021 , and an increase of 342 % compared to $ 36.7 billion in the third quarter of 2020 Total SEN Leverage commitments were $ 322.5 million at September 30 , 2021 , compared to $ 258.5 million at June 30 , 2021 , and $ 35.5 million at September 30 , 2020 Digital currency customer related fee income for the quarter was $ 8.1 million , compared to $ 11.3 million for the second quarter of 2021 , and $ 3.3 million for the third quarter of 2020 Digital currency customers grew to 1,305 at September 30 , 2021 , compared to 1,224 at June 30 , 2021 , and 928 at September 30 , 2020 Average digital currency customer deposits grew to $ 11.2 billion during the third quarter of 2021 , compared to $ 9.9 billion during the second quarter of 2021 Completed previously announced $ 200 million depository share offering , for net proceeds of $ 193.7 million after deducting underwriting discounts and offering expenses Alan Lane , president and chief executive officer of Silvergate , commented , " Silvergate had another great quarter , underscored by record quarterly pre - tax income , continued platform growth , and an expanding balance sheet . In the third quarter we grew average digital currency deposits to $ 11.2 billion , the highest in our history , added new digital currency customers to the SEN , and further increased SEN Leverage commitments and balances . Our strong results and increasingly diverse earnings stream highlight the important roles that we play in serving our customers in the still nascent digital currency industry . " 1