First Citizens To Acquire Silicon Valley Bank

Slashdot
By msmashMar 27, 2023, 10:02 am131 pts
First Citizens has agreed to buy a $72 billion chunk of Silicon Valley Bridge Bank, the California lender formerly known as Silicon Valley Bank that was taken over by the FDIC two weeks ago after depositors, in a crisis of confidence, made a run on it. SVB served as lifeblood to thousands of startups before its…

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