First Citizens Bank has agreed to buy Silicon Valley Bank’s deposits and loans, the US Federal Deposit Insurance Corporation said Monday.
“The former 17 branches of Silicon Valley Bridge Bank, National Association, will open as First–Citizens Bank & Trust Company on Monday, March 27, 2023,” the FDIC said in the statement.
“Customers of Silicon Valley Bridge Bank, National Association, should continue to use their current branch until they receive notice from First–Citizens Bank & Trust Company that system conversions have been completed to enable full banking at all of their other branches. ”
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