BREAKING Silicon Valley Bank purchased by First-Citizens Bank, FDIC says
The FDIC made it official just about an hour ago. The new owner is North Carolina-based First Citizens Bank.
According to the Feds, all 17 branches of Silicon Valley Bank will re-open as First Citizens outlets starting Monday.The regulator says the purchase price was $72 billion, discounted by $16.5 billion. In a press release, the FDIC said that customers of Silicon Valley Bank should continue to use their current branch until they receive notice from First-Citizens Bank
& Trust Company that systems conversions have been completed to allow full-service banking at all of its other branch locations.The video in the media player above is not related to the current story. The
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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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