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Home » First Citizens to buy SVB after biggest bank failure since 2008

First Citizens to buy SVB after biggest bank failure since 2008

First Citizens buying about $72 billion SVB assets for $16.5 billion discount

Bloomberg NewsbyBloomberg News
March 27, 2023
in Capital & Funding
Reading Time: 3 mins read
0
A First Citizens Bank branch in Alpharetta, Georgia

Photographer: Elijah Nouvelage/Bloomberg

First Citizens BancShares Inc. agreed to buy Silicon Valley Bank after a run on deposits wiped out the company in the biggest US bank failure in more than a decade. The deal to settle SVB’s fate could help tamp down some of the turmoil that has engulfed the financial world, and shares of regional banks […]

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Tags: bloomberg newsfdicPremiumSilicon Valley Bank
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