US First Citizens Bank to buy all deposits of Silicon Valley Bank
Al Mayadeen English
3 min readLosses will be shared between the FDIC and First-Citizens Bank, which intends to minimize disruption and panic to borrower customers - Silicon Valley Bridge Bank had assets amounting to almost $167 billion alongside $119 billion in deposits.
First Citizens BancShares and SVB logos in an illustration on March 19, 2023 (Reuters)
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