SILICON VALLEY BANK Failed 2023
What happened
SILICON VALLEY BANK of SANTA CLARA, CA was closed on 2023-03-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST-CITIZENS BANK & TRUST COMPANY (RALEIGH, NC). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 4105
- FDIC Certificate
- 24735
- FDIC FIN
- 10539
- Bank name
- SILICON VALLEY BANK
- Location
- SANTA CLARA, CA
- Failure date
- 2023-03-10
- FDIC resolution date
- 2023-03-26
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $18,960M
- Deposits at failure
- $175,378M
- Assets at failure
- $209,026M
- Acquiring bank
- FIRST-CITIZENS BANK & TRUST COMPANY (RALEIGH, NC)
- FDIC comments
- LCT not performed. DRR will provide data when available. Silicon Valley Bank to Silicon Valley Bridge Bank (59334)created with FIN 10542.
Other banks FIRST-CITIZENS BANK & TRUST COMPANY acquired in FDIC resolutions