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FDIC announces First-Citizens Bank & Trust Company to purchase assets of Silicon Valley Bank

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Seventeen former branches of SVB will begin operating as “Silicon Valley Bank, a division of First Citizens Bank/”

By Mark Thompson and Liz Enochs, CNNUS tech lender that failedThe Federal Deposit Insurance Corporation said in a statement late Sunday it had agreed that First-Citizens Bank & Trust Company would buy all of SVB’s deposits and loans that regulators had transferred to a bridge bank in the wake of its collapse.

First Citizens, based in Raleigh, North Carolina, offers general banking services through more than 550 branches and offices in 23 states.

 

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Yes! A very conservative bank SO we will NOT allow the liberal loons to destroy it! AND no he/she/it BULLSH11111T!

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FDIC announces First-Citizens Bank & Trust Company to purchase assets of Silicon Valley Bank | CNN BusinessIs this good? I honestly don’t know.
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