Silvergate Bank Names Michael A. Spacciapolli Senior Vice President of Commercial Banking

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Silvergate Bank (the “Bank”) announced today that Michael A. Spacciapolli has joined the Bank as Senior Vice President – Commercial Banking in the Bank’s La Jolla headquarters office. Mike has 19 years of diverse and senior banking experience in the greater San Diego market, as well as over 15 years of other sales and senior management business experience. Mike was most recently Senior Vice President of Commercial Banking for San Diego National Bank for three years after having served in a similar capacity for seven years with Union Bank of California and spending nine years with Wells Fargo Bank.

“Mike’s wide-ranging experience and skills are an important addition to Silvergate Bank and our commitment to redefining business banking,” said Alan J. Lane, President and CEO of the Bank.

Silvergate Bank (the “Bank”) announced today that Michael A. Spacciapolli has joined the Bank as Senior Vice President – Commercial Banking in the Bank’s La Jolla headquarters office. Mike has 19 years of diverse and senior banking experience in the greater San Diego market, as well as over 15 years of other sales and senior management business experience. Mike was most recently Senior Vice President of Commercial Banking for San Diego National Bank for three years after having served in a similar capacity for seven years with Union Bank of California and spending nine years with Wells Fargo Bank.

“Mike’s unique combination of senior commercial banking experience and senior business management background make him especially well qualified to lead our expanding commercial banking efforts throughout our market areas,” said Alan J. Lane, President and CEO of the Bank. “His outstanding qualifications as a banker and manager will enable him to lead our efforts to provide superior commercial banking services to an increasing number of businesses in our market.”

“I am extremely happy to be joining Silvergate Bank,” said Mr. Spacciapolli. “With its strong capital position, profitability, and experienced leadership, Silvergate Bank is uniquely positioned to deliver banking services that meet the needs of businesses and our community. Silvergate’s products, people, and financial strength definitely make it the ideal bank for companies to partner with in these challenging times.”

Mr. Lane continued, “Mike’s wide-ranging experience and skills are an important addition to Silvergate Bank and our commitment to redefining business banking. We are pleased to welcome Mike and look forward to his directing the growth of our commercial banking efforts throughout greater San Diego and Southern California.”

Silvergate Bank also recently announced that it had named two new branch managers. Lancaster office manager Michael McCullough is an Antelope Valley banking veteran most recently with Union Bank of California, and La Jolla office manager Scott Yates is a former branch manager for San Diego National Bank.

About Silvergate Capital Corporation and Silvergate Bank

Silvergate Capital Corporation (“Silvergate”) is the parent company of Silvergate Bank, a California chartered commercial bank. Silvergate was formed in October 1986 and the Bank commenced operations in August 1988. As of June 30, 2010 Silvergate had total assets of $375.1 million. Silvergate and the Bank are headquartered in La Jolla, California, with additional Bank branches in La Mesa, Riverside, and Lancaster, California.

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. When used in this release, the words or phrases such as "will continue," "is anticipated," "estimate," “expect,” "projected," "believe," "seeking,” or similar expressions, are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers should not place undue reliance on the forward-looking statements, which reflect views only as of the date hereof. Neither Silvergate Capital Corporation nor Silvergate Bank undertakes any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

Contact:
Silvergate Bank
Alan J. Lane
President and CEO
858-362-6300
investors(at)silvergatebank(dot)com

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Teresa Warren

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