Silicon Valley Bank sold to US lender First Citizens by FDIC

Silicon Valley Bank sold to US lender First Citizens by FDIC

FILE PHOTO: Destroyed SVB (Silicon Valley Bank) logo is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration//File Photo/File Photo

First Citizens BancShares Inc will acquire all of Silicon Valley Bank‘s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), according to the regulator.