Silicon Valley Bank acquired, offering an end to banking woes

Silicon Valley Bank deal offers beleaguered banking investors relief

Regional U.S. lender First Citizens BancShares scooped up the assets of failed peer Silicon Valley Bank on Monday, in a vote of confidence for the battered banking sector that prompted a rally in bank shares. SVB’s collapse this month was the trigger for the worst banking shock since the 2008 global financial crisis, sending bank […] The post Silicon Valley Bank deal offers beleaguered banking investors relief appeared first on Inquirer Business.

Silicon Valley Bank deal offers beleaguered banking investors relief

News of the Silicon Valley Bank deal and a weekend free of fresh troubles help boost confidence, especially among fragile US regional banks

Silicon Valley Bank deal offers beleaguered banking investors relief

Regional lender First Citizens BancShares scooped up the assets of failed peer Silicon Valley Bank on Monday, in a vote of confidence for the battered banking sector that prompted a rally in bank shares.

First Citizens Bank jumps 50% after deal to acquire assets of collapsed Silicon Valley Bank

Shares of the Raleigh, North Carolina-based bank hit an intraday high of over $880, its highest level in more than a year.

Silicon Valley Bank deal offers beleaguered banking investors relief

By Scott Murdoch, Susan Mathew and Amruta Khandekar (Reuters) - The sale of failed Silicon Valley Bank (SVB) to a regional U.S. peer and reports of a possible expansion of funding lifelines lifted banking stocks

Another bank acquiring collapsed Silicon Valley Bank in major deal

(Photo by Brock Wegner on Unsplash) By Jason Cohen Daily Caller News Foundation The Federal Deposit Insurance Corporation (FDIC) announced Sunday night that First Citizens BancShares made a deal to acquire Silicon Valley Bank (SVB), the recently failed tech lender. On March 10, the federal regulator took over SVB, making it Silicon Valley Bridge Bank, following a bank run that caused it to collapse. The FDIC then sought a buyer for the bank, eit…