Silicon Valley Bank Changes Hands

The New York Times

“First Citizens BancShares, a family-run bank in North Carolina, announced last Sunday that it was acquiring Silicon Valley Bank, capping off a tumultuous month for the California lender whose collapse touched off a wider banking crisis. The Federal Deposit Insurance Corporation seized control of SVB and its assets on March 10, after a run on deposits left it insolvent, and SVB filed for bankruptcy a week later.”