{"schema_version":"secwatch.filing_event.v1","accession":"0000950157-23-000471","form_type":"8-K","ticker":null,"cik":"0001312109","company_name":"Silvergate Capital Corp","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.341076+00:00","generated_at":"2026-06-15T03:41:56.448407+00:00","sec_items":["2.05","8.01"],"event_type":"other_material","sentiment":"negative","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Silvergate to lay off ~230 employees, halt SEC filings, faces NYSE delisting as bank liquidation continues","bullets":["Approximately 230 employees terminated May 12; further reductions through Nov 2023, leaving ~80 for liquidation.","Total restructuring costs estimated at $13.6M ($10.7M severance/retention, $2.8M benefits).","Company will not file 2022 10-K or future periodic reports; NYSE suspended trading and will commence delisting.","Bank completed sale of all debt securities and fully repaid FHLB borrowings; cash exceeds remaining deposit liabilities.","Contingent liabilities from regulatory inquiries and litigation remain unquantified."],"urls":{"canonical":"https://secwatch.observer/filing/0000950157-23-000471","json":"https://secwatch.observer/filing/0000950157-23-000471.json","markdown":"https://secwatch.observer/filing/0000950157-23-000471.md","text":"https://secwatch.observer/filing/0000950157-23-000471.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1312109/000095015723000471/0000950157-23-000471-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1312109/000095015723000471/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T03:41:56.448407+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"ade2e9a629609cfde61b3c6b45ec0dc222d8ef97","claim":"Silvergate Capital Corp announced a restructuring with charges of approximately $13.6 million affecting Silvergate Bank (approximately 230 employees).","evidence_excerpt":"The Company estimates aggregate costs associated with these reductions in force of approximately $13.6 million, including approximately $10.7 million in severance and retention bonus payments and $2.8 million in employee benefits and job placement expenses.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1312109/000095015723000471/0000950157-23-000471-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $13.6 million"},{"label":"Affected area","value":"Silvergate Bank"},{"label":"Headcount","value":"approximately 230 employees"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}