SVB collapse: First Citizens Bank to buy Silicon Valley Bank

By Conrad Hoyt

Published March 27, 2023 5:27am ET

SVB collapse: First Citizens Bank to buy Silicon Valley Bank — A customer exits Silicon Valley Bank's headquarters in Santa Clara, Calif., on Monday, March 13, 2023. The federal government intervened Sunday to secure funds for depositors to withdraw from Silicon Valley Bank after the bank's collapse. Dozens of individuals waited in line outside the bank to withdraw funds.

First Citizens Bank has reached a deal to acquire the assets of Silicon Valley Bank about 2 1/2 weeks after the Santa Clara, California-based bank collapsed, the Federal Deposit Insurance Corporation announced early Monday morning.

Print subscriber? Click here to login/register your account

Digital subscriber? Click here to login/register your account.

Full midterm coverage.Deeper analysis.

Get unlimited access to Washington Examiner's reporting, expert analysis, and coverage of the midterm elections.

Get Unlimited Access

Cancel anytime.

Tag:

SVB collapse: First Citizens Bank to buy Silicon Valley Bank

Recommended Stories

SVB collapse: Gottheimer lays out demands on how government should deal with it

SVB collapse: FDIC holding auction for bank, final bids due Sunday

SVB collapse: A timeline of the bank’s demise

Full midterm coverage.Deeper analysis.

Tag: