Tag Archives FDIC

First Citizens Bank Strikes Deal To Acquire Collapsed Silicon Valley Bank

First Citizens Wins Takeover of Collapsed Silicon Valley Bank

In a deal with the Federal Deposit Insurance Corporation (FDIC), First Citizens BancShares Inc. snapped up a bulk of collapsed Silicon Valley Bank, just two weeks after a panic-induced run of deposits destroyed the lender’s finances in the second biggest U.S. bank failure since the 2008 financial crisis.

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Silicon Valley Bank Collapses As Regulators Seized Control

The closure of Silicon Valley Bank, the 16th largest U.S. bank marks the second-largest bank failure in history

Silicon Valley Bank collapsed Friday with financial regulators rushing in to seize control over the tech-focused lender’s assets and liabilities following a frenetic week that saw an unsuccessful attempt to raise capital triggering a depositor exodus.

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