Silicon Valley Bank Officially Sold To First Citizens Bank
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="1080" height="603" />)
Earlier during the day, there were speculations claiming that Silicon Valley Bank could be sold to First Citizens Bank. During the late hours on Sunday, March 26, an official FIDC statement confirmed the same. The statement read,
“The Federal Deposit Insurance Corporation (FDIC) entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, National Association, by First–Citizens Bank & Trust Company, Raleigh, North Carolina.”
1 comment