NEW YORK: First Citizens BancShares Inc has agreed to buy Silicon Valley Bank (SVB) which was seized by regulators following a run on the lender.
The Raleigh, North Carolina-based bank entered into a purchase and assumption agreement for all deposits and loans of SVB, according to a statement from the Federal Deposit Insurance Corp (FDIC).
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
