All SVB customers will automatically become customers of First Citizens Bank.
“Today’s transaction included the purchase of about $72 billion of Silicon Valley Bridge Bank, National Association’s assets at a discount of $16.5 billion.
Approximately $90 billion in securities and other assets will remain in the receivership for disposition by the FDIC. In addition, the FDIC received equity appreciation rights in First Citizens BancShares, Inc., Raleigh, North Carolina, common stock with a potential value of up to $500 million,” the
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First Citizens Bank to buy Silicon Valley Bank deposits and loansFirst Citizens Bank agreed to buy Silicon Valley Bank's deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday.
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FDIC says First Citizens Bank has reached deal to purchase Silicon Valley BankThe Federal Deposit Insurance Corporation said the First–Citizens Bank & Trust Company has agreed to purchase Silicon Valley Bank and will insure all depositors up to federal limits.
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First Citizens Bank to buy Silicon Valley Bank deposits and loansBREAKING: First Citizens Bank agreed to buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday .
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FDIC announces First-Citizens Bank & Trust Company to purchase assets of Silicon Valley Bank | CNN Business
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Silicon Valley Bank purchased by First-Citizens Bank, FDIC saysSilicon Valley Bank has been purchased by First-Citizens Bank, the FDIC announced Sunday night.
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