• By clicking "OK" or continuing to use this site, you agree that we may collect and use your personal data and set cookies to improve your experience and customise advertising. To see how, and to learn how to control cookies, please read our Privacy Policy and Cookie Policy.
OK
Advertisement
In the last month
view more headlines
11 Apr 15:19

About our Silicon Valley Bank news

Latest news on Silicon Valley Bank, which was one of the largest commercial banks in the United States, before its collapse and acquisition in 2023.

On 9 March 2023, shares of SVB Financial plunged more than 62% after the company proposed a share sale to shore up its balance sheet which had suffered a $1.8 billion loss on Treasuries due to rising inflation.

On 17 March 2023, Silicon Valley Bank's former parent company, SVB Financial Group, filed for Chapter 11 bankruptcy.

On 26 March 2023, the FDIC announced that First Citizens BancShares would acquire the commercial banking business of SVB. SVB's 17 branches reopened as "Silicon Valley Bank, a division of First Citizens Bank" the next day, with all SVB depositors becoming depositors of the new First Citizens brand.


Publication filters

Headline Density

Sorry, no headlines or news topics were found. Please try different keywords.