First Citizens Bank will purchase about $72 billion of Silicon Valley Bank’s assets at a discount of $16.5 billion.
SOPA Images/LightRocket via Getty ImagesAs part of the deal, the North Carolina-based First Citizens Bank has agreed to purchase $72 billion of SVB’s loans at $16.
5 billion from the FDIC.The FDIC said it will continue to retain receivership of around $90 billion worth of SVB’s assets—including securities.This is a developing story.
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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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