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The Latest Breaking News from First Citizens Bank

CIT Bank Review 2023

CIT Bank offers a number of deposit accounts for personal and business customers.

Fortune

Silicon Valley Bank was repaid millions by distressed custom furniture retailer Interior Define before both collapsed

When Interior Define began a liquidation process in late December, the Chicago-based custom furniture retailer left thousands of customers with unfulfilled orders and little hope of recovering their money.

Chicago Tribune

The strange case of SVB Capital

Hundreds of pages of bankruptcy filings reviewed by Term Sheet outline the bizarre limbo the VC unit finds itself in.

Fortune

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Mercury Takes Aim At Replacing Silicon Valley Bank As Tech Hubs Go-To Bank And Lender

Silicon Valley Bank’s collapse has paved the way for other banking institutions to step up and meet demand for venture debt

Zenger

How A $700M Tech VC Firm Was Saved From SVB Collapse, And Why Its CEO Still Banks There

The collapse of Silicon Valley Bank has sounded an alarm for the entire banking sector as a VC Tech still banks there

Zenger

Stock Market Today: Stocks Finish Mostly Higher After First Citizens Buys SVB Assets

The Nasdaq closed lower, though, as mega-cap tech stocks declined.

Kiplinger

First Citizens Bank will buy Silicon Valley Bank

RALEIGH, N.C. — Raleigh’s First Citizens Bank is buying most of Silicon Valley Bank, the tech-focused financial institution which collapsed earlier this month.

Tribune News Service

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Snap growth executive Jacob Andreou joins Greylock

The eight-year social media executive will join the venture capital firm in May and invest in early-stage consumer companies.

Fortune

The FDIC says First Citizens Bank will acquire Silicon Valley Bank

First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.

WEKU

Markets rally despite banking fears; UK retailers turn optimistic after bleak winter – as it happened

Shares in First Citizens Bank surge 45% as it agrees to buy much of Silicon Valley Bank, while Saudi National Bank’s Ammar Alkhudairy resigns

The Guardian - UK

Banking sector sees boost as First Citizens acquires failed SVB

SVB’s purchase gives markets some respite amid growing concerns over financial health of global banking system.

People

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The Federal Deposit Insurance Corporation

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ACH

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