First Citizens Bank to buy Silicon Valley Bank deposits and loans

Summary by Ground News

First Citizens Bank agreed to buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday.

Published 2 months ago · Santa Clara, United States

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Times of India

First Citizens in advanced talks to buy Silicon Valley Bank: Source

First Citizens could reach a deal as soon as Sunday to acquire Silicon Valley Bank from the Federal Deposit Insurance Corp (FDIC), according to Bloomberg News, which first reported the development.

2 months ago·Mumbai, India

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BBC News

Silicon Valley Bank: Collapsed US lender bought by rival

The collapsed lender was seized by US regulators after a run on the bank.

2 months ago·United Kingdom

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News18 India

First Citizens Bank To Buy SVB's Deposits, Loans from FDIC

As of March 10, 2023, Silicon Valley Bridge Bank, National Association, had about $167 billion in total assets and about $119 billion in total deposits

2 months ago·India

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The Guardian

Silicon Valley Bank: most of failed lender bought by First Citizens

Collapse of tech sector lender will cost about $20bn in deposit insurance payouts, say US regulators

2 months ago·London, United Kingdom

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Reuters

First Citizens Bank to buy SVB's deposits, loans from FDIC

First Citizens Bank & Trust Co will buy all of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement. (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Savio D'Souza)

2 months ago·United Kingdom

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