Federal Deposit Insurance Corporation says the 17 former branches of Silicon Valley Bank will re-open as First Citizens Bank & Trust Company on Monday, March 27.
First Citizens Nearing Deal for Silicon Valley Bank: Bloomberg
Raleigh, N.C.-based First Citizens is the 30th largest bank in the U.S., with $109 billion in assets, and recently completed an acquisition of New York-based commercial lender CIT.
SVB Financial’s First Bankruptcy Hearing ‘Wasn’t Really So Routine,’ Says Legal Expert
The holding company needs access to the FDIC-locked funds in order to pay back its creditors and support its two external operations, says Kleinberg, Kaplan partner, Dov Kleiner.
The Banking Crisis Is Not Crypto’s Fault
Crypto might have a banking problem, but banks don’t have a crypto problem.
Silicon Valley Bank’s Parent Looking at Strategic Alternatives
The SVB Financial Group appointed a restructuring committee for its venture capital and investment banking arm.
Silicon Valley Bank Crisis a ‘Cyprus Moment’ for Bitcoin: Crypto Observers
The Fed’s aggressive rate hikes and balance sheet reduction have caused a historic bank failure — fashioning a real-time ad for Bitcoin self-custody, observers said.
U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source
Rep. Maxine Waters convened meetings with federal bank regulators in the wake of the bank’s collapse.