First Citizens said its purchase of Silicon Valley Bank will improve its tech business
Posted on AllSides March 27th, 2023
From The Left
Raleigh's First Citizens Bank is buying the remnants of the collapsed Silicon Valley Bank — a move that will make the Smithfield-founded company one of the 25 largest banks in the country. Why it matters: The sale is a step toward stabilizing America's regional banking sector, after a month of tumult. • It's also a show of might by a Raleigh bank that is relatively unknown despite being one of the largest regional banks in the country. • First Citizens had $109 billion in assets at the end of last...