Bank Failure
SILICON VALLEY BANK
Closed March 10, 2023 · SANTA CLARA , CA · FDIC Cert #24735 .
- Closing date
- March 10, 2023
- Headquarters
- SANTA CLARA , CA
- FDIC Certificate
- 24735
- Total assets at closing
- $209,026,000,000
- Total deposits at closing
- $175,378,000,000
- Estimated loss to DIF
- $18,959,624,000
- Resolution type
- other
- Acquirer
- FIRST-CITIZENS BANK & TRUST COMPANY (FDIC Cert #10539)
Context
On March 10, 2023, regulators closed SILICON VALLEY BANK , headquartered in SANTA CLARA , CA . At closing, the institution held approximately $209,026,000,000 in assets and $175,378,000,000 in deposits . The FDIC arranged a resolution under which FIRST-CITIZENS BANK & TRUST COMPANY acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $18,959,624,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2023
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2023-11-03 | CITIZENS BANK | SAC CITY , IA | $60,448,000 |
| 2023-07-28 | HEARTLAND TRI-STATE BANK | ELKHART , KS | $139,446,000 |
| 2023-05-01 | FIRST REPUBLIC BANK | SAN FRANCISCO , CA | $212,638,872,000 |
| 2023-03-12 | SIGNATURE BANK | NEW YORK , NY | $110,363,650,000 |
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