First Citizens agrees to buy Silicon Valley Bank

Posted on AllSides March 26th, 2023
From The Left

First Citizens BancShares of Raleigh, N.C. has agreed to buy the commercial banking assets of Silicon Valley Bank, which recently collapsed and was seized by the U.S. government.

Why it matters: This is a step toward stabilizing America's regional banking sector, after a month of tumult.

This is a breaking news story, so please check back for updates.

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https://axios.com/2023/03/27/first-citizens-silicon-valley-bank-sold-fdic

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