First Citizens will buy Silicon Valley Bank, ... The Silicon Valley Bank logo is seen at an open branch in Pasadena, Calif., on March 13, 2023.

First Citizens Bank is to purchase $72 billion dollars worth of assets from SVB at a deeply discounted price of $16.5 billion, while also handling $56 billion of the failed bank's deposits.

First Citizens acquired commercial lender CIT Group Inc. for more than $2 billion in a deal that closed last year. SILICON VALLEY BANK'S HOLDING COMPANY FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION ...

First Citizens Bank & Trust Co will buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday, just over two weeks after the biggest U.S. banking ...

The 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.

First Citizens BancShares Inc , which acquired Silicon Valley Bank following its collapse, ... The HSBC bank logo is seen in the Canary Wharf financial district in London, Britain, March 3, 2016.

First-Citizens Bank & Trust Co, a unit of First Citizens BancShares Inc , ... Item 1 of 2 Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023.

First Citizens is buying the $72 billion in SVB loans for about $55 billion, a 29% discount, the FDIC said. “The FDIC estimates the cost of the failure of Silicon Valley Bank to its Deposit ...