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.”
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