Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Times of India
The Times of India
Business
Bloomberg

First Citizens buys Silicon Valley Bank

First Citizens Silicon Valley Bank FDIC SVB First Citizens BancShares Inc New York United States US Federal Reserve

NEW YORK: First Citizens BancShares Inc agreed to buy Silicon Valley Bank which was seized by regulators following a run on the lender.

The Raleigh, North Carolina-based bank entered into a purchase and assumption agreement for all deposits and loans of SVB, according to a statement from the Federal Deposit Insurance Corp. The deal includes the purchase of about $72 billion SVB assets at a discount of $16.5 billion.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
British Embassy quashes Winnie-the-Pooh return rumors, keeping the famed bear in New York
It turns out Winnie-the-Pooh and his fluffy friends aren’t being bear-napped from their longtime home at the New York Public Library
The Independent UK
The Independent UK
79 Nostalgic Photos That Take ’80s Kids Straight Back To Their Childhoods
80s had everything: bright neon colors, ABBA, Queen, and Madonna on the radio, huge power suits, and poofy hair that is now only associated with hair metal bands. If you love this decade, take a trip down memory lane with these pics from r/80s, where people share nostalgic items and…
Bored Panda
Bored Panda
Billy Corgan defends decades-long friendship with Marilyn Manson
Billy Corgan haș defended his friendship with Marilyn Manson, insisting that just because he stood by the rocker amid sexual abuse allegations, it doesn’t mean that he doesn’t have “an opinion”.
BANG Premier
BANG Premier
Ancestors all around – millions of dead people linger in Americans’ memories
Halloween kicks off a series of religious and cultural festivals to honor the dead, including All Saints’ Day, All Souls’ Day and the Day of the Dead. But deceased loved ones don’t disappear from people’s social worlds once the ghost and skeleton decorations come down.
The Conversation
The Conversation
“Like We’re Peasants”: Jenna Ortega Enrages Her Fans After Revealing How She Feels About Interacting With Them
Jenna Ortega has angered some fans after opening up about the pressure of meeting them and explaining why she doesn't always feel comfortable stopping for photos.
Bored Panda
Bored Panda
Raw vs fresh: Is this brand's 'Michelin Dog Star' food worth the hype?
Billed as the nation’s top-rated dog food, here’s why your pet might be better off eating human-grade ingredients
Evening Standard
Evening Standard
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play