First Citizens Bank Buys Silicon Valley Bank’s Assets

First Citizens Bank is acquiring the bulk of Silicon Valley Bank’s deposits and loans, roughly doubling the size of the bank • They’ve been able to purchase the assets at a discount of $16.5 billion • First Citizens Bancshares have rocketed on the news, up over 50% on Monday after the announcement…

#firstcitizensbank #siliconvalleybanks #siliconvalleybank #fdic #svb #northcarolina #firstcitizens #portfolioprotection #bankofsmithfield #robertpowellholding