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First Citizens Acquires Much of Failed Silicon Valley Bank

6 min read 27 Mar 2023, 05:44 PM IST The Wall Street Journal

Deal with federal regulators will make Raleigh-based firm one of the top 25 U.S. banks

A First Citizens Bank sign is seen in Durham, North Carolina, on Monday March 27, 2023. North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. (AP Photo/Jonathan Drew) (AP) — A First Citizens Bank sign is seen in Durham, North Carolina, on Monday March 27, 2023. North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month. (AP Photo/Jonathan Drew) **(AP)**

First Citizens Bancshares Inc., one of the nation’s largest regional banks, is buying big pieces of Silicon Valley Bank more than two weeks after the lender’s collapse sent tremors through the banking system.

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First Citizens Acquires Much of Failed Silicon Valley Bank

Deal with federal regulators will make Raleigh-based firm one of the top 25 U.S. banks

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