First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

Upworthy

Published

According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB…

#fdic #siliconvalleybank #svb #raleigh #northcarolina #firstcitizens #fdicmediateddealthe #firstcitizensbank #signaturebank #flagstar

Full Article