Silicon Valley Bank collapse: 5 lessons to learn as an investor
2 years ago

Silicon Valley Bank collapse: 5 lessons to learn as an investor

Live Mint  

We all learn from mistakes, either it is done by ourselves or others. It all began in the post-Covid era when companies were reluctant to borrow money from Silicon Valley banks due to the US dollar's ongoing appreciation versus nearly all other currencies. Newly issued fixed-income instruments are likely to become more appealing as central banks continually raise interest rates around the world, therefore the bank decided to invest in long-term, low-yield, well-rated bonds and other securities, assuming it to be a secure investment. Cash flow Investors often consider cash flow as a key indicator of a company's financial health, as it provides a more accurate picture of a company's ability to pay its bills, meet its financial obligations, and reinvest in its operations. Conclusion Having a full-fledged investment plan from entering the market to exiting from the particular investment to established financial objectives, would help to keep yourself financially stable and sound enough to tackle financial emergencies.

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History of this topic

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe
1 year, 1 month ago

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe

Daily Mail  

Regional banks are doomed. BEWARE THE COMING REAL ESTATE IMPLOSION New York Community Bancorp made more headlines this week after reporting a surprise loss of $252 million on its commercial real estate loan portfolio in the fourth quarter of 2023 alone. Considering that small firms reportedly hold nearly 70 percent of $2.7 trillion in outstanding commercial real estate loans, it's …

CEOs of the nation’s biggest banks warn that new regulations could harm the economy
1 year, 3 months ago

CEOs of the nation’s biggest banks warn that new regulations could harm the economy

Associated Press  

NEW YORK — The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated, warning that the new proposals could negatively impact the economy at a time of geopolitical turmoil and inflation. Whereas in previous years the bank CEOs used …

With ‘everybody else’ dead or gone, a Pasadena bank grows
1 year, 7 months ago

With ‘everybody else’ dead or gone, a Pasadena bank grows

LA Times  

Dominic Ng, Chairman and CEO of Pasadena-based East West Bancorp, speaks at a conference in 2011 in New York. From his office in Pasadena, Dominic Ng watched as California banks fell like dominoes — first crypto-friendly Silvergate Capital down near San Diego in early March, then Silicon Valley Bank up north days later, followed by San Francisco’s First Republic Bank …

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says
1 year, 8 months ago

Silicon Valley Bank failed because of regulators’ sluggishness, Fed’s Mary Daly says

CNN  

Washington, DC CNN — Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. “We can raise this — and by ‘we’ I mean the system, not me because again, I don’t play an active role in supervision — …

Sinema cites bill targeting leaders of failed banks after criticism of her Wall Street ties
1 year, 9 months ago

Sinema cites bill targeting leaders of failed banks after criticism of her Wall Street ties

Associated Press  

PHOENIX — Arizona Sen. Kyrsten Sinema, the Democratic defector turned independent who’s been criticized as too closely aligned with Wall Street interests, took credit Thursday for helping broker legislation that would target executives of failed banks. After the Silicon Valley Bank collapse, Sinema took heat for supporting a 2018 bill that loosened requirements for “stress tests” of banks with $100 …

Silicon Valley Bank to cut 3% of its workforce
1 year, 10 months ago

Silicon Valley Bank to cut 3% of its workforce

Live Mint  

Silicon Valley Bank, once a prominent player in the banking industry, has faced a significant setback as it succumbed to financial difficulties and subsequently went under. The CEO of First Citizens Bank, Frank Holding, clarified that these job cuts would primarily affect ‘select’ corporate roles within Silicon Valley Bank. In a subsequent turn of events, a lawsuit filed by First …

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them
1 year, 10 months ago

Bank execs blame panicked depositors for Silicon Valley, Signature failures, but senators blame them

Associated Press  

NEW YORK — Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame to events they said were largely out of their control. Greg Becker, Silicon Valley Bank’s former CEO, took the brunt of the criticism from committee members, although …

Heads of failed banks refuse to accept blame, defend their pay and bonuses
1 year, 10 months ago

Heads of failed banks refuse to accept blame, defend their pay and bonuses

LA Times  

Gregory Becker, left, former CEO of Silicon Valley Bank, testifies with Scott Shay, former chairman and co-founder of Signature Bank, and Eric Howell, former president of Signature Bank, during a Senate hearing on Capitol Hill on Tuesday. Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, …

Tech startups find one of their last funding sources is drying up
1 year, 10 months ago

Tech startups find one of their last funding sources is drying up

Live Mint  

A key form of financing that startups rely on is shrinking, hurting new companies that are already starved for capital. Debt Alongside Equity A question mark for many tech industry watchers is the outlook for Silicon Valley Bank’s venture debt business. “The approach to and appetite for providing credit to technology and life science companies, and investors, has not changed.” …

California bank regulator finds own faults in bank’s demise
1 year, 10 months ago

California bank regulator finds own faults in bank’s demise

Associated Press  

NEW YORK — California’s bank regulator said Monday that it was too slow to see the growing risks at Silicon Valley Bank and did not act forcefully enough to get the bank to fix its problems. A report from the California Department of Financial Protection and Innovation echoed similar findings in a Federal Reserve report looking at its own supervision …

California regulator cites social media, digital banking as key factors in Silicon Valley Bank’s failure
1 year, 10 months ago

California regulator cites social media, digital banking as key factors in Silicon Valley Bank’s failure

LA Times  

California’s chief banking regulator took its fair share of blame Monday for Silicon Valley Bank’s collapse, admitting that the department was slow to demand fixes at the troubled institution — too slow for an era in which social media and mobile banking could combine to drive an unprecedented run on the bank’s deposits. “While many internal factors made Silicon Valley …

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse
1 year, 10 months ago

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse

Live Mint  

Goldman Sachs' is facing the scrutiny of US authorities over its work with Silicon Valley Bank and its connection with the events that led to the collapse of the California bank. Goldman Sachs is fully cooperating with the ongoing investigation by US authorities and providing all the required information various government bodies, the financial institution said in its stock exchange …

The banking crisis isn’t over. But how bad will it get?
1 year, 10 months ago

The banking crisis isn’t over. But how bad will it get?

Associated Press  

NEW YORK — Uncertainty continues to pummel the banking industry, despite assurances from financial regulators and bankers such as Jamie Dimon this week that the worst of the recent crisis is over and the health of the banking system remains strong. A renewed sell-off Thursday focused on PacWest Bancorp and Western Alliance Bancorp, two smaller regional banks whose shares have …

First Republic Bank sold to JPMorgan Chase: What you need to know
1 year, 10 months ago

First Republic Bank sold to JPMorgan Chase: What you need to know

Firstpost  

The federal government seized First Republic Bank and sold it to JPMorgan Chase on Monday, ending the lender’s six-week-long free fall and reassuring depositors that their money is safe. First Republic Bank’s failure had much the same roots as the collapses of Silicon Valley Bank and Signature Bank — spooked depositors and investors pulling their money and selling their shares …

Why First Republic failed. Are other banks to follow?
1 year, 10 months ago

Why First Republic failed. Are other banks to follow?

Associated Press  

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks. Like Silicon Valley Bank, which was seized by the government on March 10, First Republic catered to a wealthy clientele, which helped it grow deposits rapidly but may have also contributed to its undoing. What’s more, the large …

IMF exudes confidence in India for economic revival; projects 'Asia-Pacific to grow 4.6 pc in 2023'
1 year, 10 months ago

IMF exudes confidence in India for economic revival; projects 'Asia-Pacific to grow 4.6 pc in 2023'

India TV News  

International Monetary Fund: The Washington-based fund on Tuesday raised its forecast for dynamic Asia-Pacific claiming a 4.6 per cent growth this year from that of 3.8 per cent recorded in 2022. The International Monetary Fund in its Regional Economic Outlook stated that India and China will play a prominent role in driving global growth. "Asia and Pacific will be the …

Why First Republic failed. Are other banks to follow?
1 year, 10 months ago

Why First Republic failed. Are other banks to follow?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy First Republic Bank has become …

The three banks that have failed this year are bigger than the 25 that crumbled in 2008
1 year, 10 months ago

The three banks that have failed this year are bigger than the 25 that crumbled in 2008

Daily Mail  

The three American banks that have failed so far this year are bigger than the 25 that collapsed in 2008, data shows. Officials announced Monday that they have closed San Francisco-based First Republic Bank, making it the third major US bank to collapse in the past two months after Silicon Valley Bank and Signature Bank crumbled in March. Officials announced …

First Republic Bank's fate is in limbo as US regulators consider bids from PNC, Chase and Citizens
1 year, 11 months ago

First Republic Bank's fate is in limbo as US regulators consider bids from PNC, Chase and Citizens

Daily Mail  

Regulators searched for a solution to First Republic Bank's woes over the weekend, hoping to find a way forward before U.S. stock markets open on Monday. San Francisco-based First Republic has struggled since the collapse of Silicon Valley Bank and Signature Bank in early March, as investors and depositors grew increasingly worried the bank may not survive as an independent …

First Republic: Cheap, interest-only jumbo mortgages to Silicon Valley’s elite fueled the bank’s failure
1 year, 11 months ago

First Republic: Cheap, interest-only jumbo mortgages to Silicon Valley’s elite fueled the bank’s failure

LA Times  

Jumbo mortgages on Silicon Valley homes compounded the troubles of First Republic Bank, which regulators seized. The seeds of First Republic Bank’s downfall were sown in the jumbo mortgages of Silicon Valley, where a unique strategy to loan wealthy individuals extraordinary sums of money blew up in spectacular fashion. On March 16, as panic spread across regional banks in the …

Fed faults Silicon Valley Bank execs, itself in bank failure
1 year, 11 months ago

Fed faults Silicon Valley Bank execs, itself in bank failure

Associated Press  

WASHINGTON — The Federal Reserve blamed last month’s collapse of Silicon Valley Bank on poor management, watered-down regulations and lax oversight by its own staffers, and said the industry needs stricter policing on multiple fronts to prevent future bank failures. “While higher supervisory and regulatory requirements may not have prevented the firm’s failure, they would likely have bolstered the resilience …

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse
1 year, 11 months ago

Silicon Valley Bank: US Fed calls for tougher bank rules after SVB collapse

Live Mint  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have learned," Federal Reserve vice chair for supervision Michael Barr wrote in …

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report
1 year, 11 months ago

Fed Admits to Failures in Oversight of Silicon Valley Bank Collapse in New Report

News 18  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. “Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation based on what we have learned,” Federal Reserve vice chair for supervision Michael Barr wrote in …

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says
1 year, 11 months ago

Congress Helped Set Stage For Silicon Valley Bank’s Failure, Federal Reserve Says

Huff Post  

LOADING ERROR LOADING WASHINGTON ― After the failure of Silicon Valley Bank in March, Senate Banking Committee member Sen. John Kennedy asked on the Senate floor, “Where were the regulators?” On Friday, the regulators responded ― with a reminder that Kennedy and other lawmakers told them to go easy on institutions like Silicon Valley Bank. In a lengthy and highly …

Fed blames itself for Silicon Valley Bank collapse
1 year, 11 months ago

Fed blames itself for Silicon Valley Bank collapse

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Silicon Valley Bank failed …

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse
1 year, 11 months ago

US Federal Reserve admits faults and calls for stronger banking oversight after Silicon Valley Bank collapse

Hindustan Times  

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a widely-anticipated report published Friday into the collapse of Silicon Valley Bank last month. US Federal Reserve admits to failings in Silicon Valley Bank oversight "Following Silicon Valley Bank's failure, we must strengthen the Federal Reserve's supervision and regulation based on what we have …

The Surprising Risk That Turbocharged a $142 Billion Bank Run
1 year, 11 months ago

The Surprising Risk That Turbocharged a $142 Billion Bank Run

Live Mint  

Tony Cookson didn’t know much about Silicon Valley Bank before Silicon Valley Bank collapsed. Their buzzy new working paper presents compelling evidence that social media like Twitter didn’t simply expose the risks of a bank run. Of course, not every bank’s depositors include startup founders and venture capitalists with sizable online followings, and social media wasn’t the only risk that …

Fed autopsy on SVB faults bank’s management — and its own oversight
1 year, 11 months ago

Fed autopsy on SVB faults bank’s management — and its own oversight

CNN  

New York CNN Business — In a hotly anticipated banking report released Friday morning, the Federal Reserve said it failed to take sufficient action to prevent the collapse of Silicon Valley Bank, while detailing serious management oversights by the lender’s executives. The Fed, which is SVB’s primary regulator, took responsibility for its own lapses, saying that supervisors “did not fully …

First Republic may not survive, even after two multibillion-dollar bailouts
1 year, 11 months ago

First Republic may not survive, even after two multibillion-dollar bailouts

CNN  

New York CNN — First Republic Bank is in a fight for its survival. “It’s becoming clearer each day” that First Republic is “toast,” said Don Bilson at Gordon Haskett, in a note Wednesday. Investors who are buying First Republic stock are clinging to the hope “that a bailout package spearheaded by the largest US banks will leave something left …

First Republic Bank stock plunges as depositors flee
1 year, 11 months ago

First Republic Bank stock plunges as depositors flee

Associated Press  

NEW YORK — First Republic Bank’s stock plunged Tuesday after it said depositors withdrew more than $100 billion during last month’s crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank. First Republic has struggled since the collapse of Silicon Valley Bank and Signature Bank in early …

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent
1 year, 11 months ago

Column: Love it or hate it, the Silicon Valley Bank bailout won’t cost taxpayers a cent

LA Times  

The collapse of Silicon Valley Bank raised questions anew about how and whether to bail out failed financial institutions. As investment manager and financial commentator Barry Ritholtz observed in his 2009 book “Bailout Nation,” the proper solution to the banking crisis was obvious: “Put the insolvent banks into FDIC receivership, fire management. “First,” he wrote, “there is something inherently unjust …

Insider Q&A: Lindsey Johnson of the Consumer Bankers Assoc.
1 year, 11 months ago

Insider Q&A: Lindsey Johnson of the Consumer Bankers Assoc.

Associated Press  

NEW YORK — Lindsey Johnson became president of the Consumer Bankers Association in 2022, representing the trade and lobbying organization for the nation’s big retail banks like Bank of America, Wells Fargo, US Bank, PNC and others. She spoke to The Associated Press during the CBA’s annual conference in Las Vegas, the first industry-wide gathering since the collapse of Silicon …

How the failure of Silicon Valley Bank might have affected the entire financial system
1 year, 11 months ago

How the failure of Silicon Valley Bank might have affected the entire financial system

Firstpost  

Research suggests that a run-on deposits at Silicon Valley Bank and Signature Bank could have set off a cascading series of bank failures, crippling small businesses and economic activity across wide parts of the country Washington: The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Biden administration and …

Profits at big US banks show few signs of industry distress
1 year, 11 months ago

Profits at big US banks show few signs of industry distress

Associated Press  

NEW YORK — The nation’s largest banks appear to be weathering the current turmoil in their industry just fine. Despite a pair of historical failures last month that put the nation’s banking industry into crisis mode, the nation’s biggest banks posted strong profits last quarter, helped by higher interest rates and a U.S. economy that keeps growing and adding jobs …

Profits at big US banks show few signs of industry distress
1 year, 11 months ago

Profits at big US banks show few signs of industry distress

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Despite a pair of historical …

Biden calls to revive bank regulations that Trump weakened
2 years ago

Biden calls to revive bank regulations that Trump weakened

Associated Press  

WASHINGTON — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The recommended changes outlined by the White House try to put a clear blame on the Trump administration for …

White House skirts Congress to push new regional bank rules
2 years ago

White House skirts Congress to push new regional bank rules

Daily Mail  

The Biden administration proposed a list of new bank measures Thursday that it says can be done without the help of Congress and will reverse some of the regulatory rollbacks made during the Trump-era. The White House said it would like to see midsized banks hold more liquid assets, increase their capital, submit to regular stress tests and write 'living …

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses
2 years ago

Data | The Collapse of Silicon Valley Bank and Signature Bank Amid Rising Interest Rates and Asset Losses

The Hindu  

Silicon Valley Bank has gone belly-up as has the Signature Bank in the U.S. in the last few weeks. Click to remove AMP mode Charts 1A and 1B show the extent of the unrealised losses that Silicon Valley Bank and First Republic Bank have been making of late as a result of a dramatic fall in bond values. In fact, …

Fed official: Bank rules under review in wake of SVB failure
2 years ago

Fed official: Bank rules under review in wake of SVB failure

Associated Press  

WASHINGTON — The Federal Reserve’s bank supervisors warned Silicon Valley Bank’s management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said Tuesday, but its managers failed to take the steps necessary to fix the problems. The Fed official, Michael Barr, the nation’s top banking regulator, said during a Senate …

‘Silicon Valley Bank collapse fastest since Barings’ – Bank of England chief
2 years ago

‘Silicon Valley Bank collapse fastest since Barings’ – Bank of England chief

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The collapse of Silicon Valley …

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down
2 years ago

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down

The Quint  

Silicon Valley Bank failure, and the massive contagion it sparked, look like a classic banking run. The response from the US Treasury and the US Federal Reserve—which applied nineteenth-century British economist Walter Bagehot’s principle that, to stem panic, a lender of last resort is needed—also looks quite familiar. First, in 2008, the worry about collapse was so intense that a …

Fed official: SVB itself was main cause of bank's failure
2 years ago

Fed official: SVB itself was main cause of bank's failure

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The nation's top financial regulator …

Banking Crisis: What is a ‘bank run’ and how are depositors protected against it? All you need to know
2 years ago

Banking Crisis: What is a ‘bank run’ and how are depositors protected against it? All you need to know

Live Mint  

The recent failures of three United States banks and one major European investment bank in less than two weeks have sent shockwaves across the global economy. The current turmoil in the global banking system is on the back of the rapid hikes in interest rates by the United States Federal Reserve and the European Central Bank. For instance, if a …

US backstops Silicon Valley Bank sale to First Citizens
2 years ago

US backstops Silicon Valley Bank sale to First Citizens

Live Mint  

U.S. regulators said on Monday they would backstop a deal for regional lender First Citizens BancShares to acquire failed Silicon Valley Bank, triggering an estimated $20 billion hit to a government-run insurance fund. First Citizens will assume Silicon Valley Bank's assets of $110 billion, deposits of $56 billion and loans of $72 billion as part of the deal. First Citizens …

Senate committee questions federal regulators over US bank crisis
2 years ago

Senate committee questions federal regulators over US bank crisis

Al Jazeera  

Tuesday marked the US Senate’s first public hearing into the collapse of Silicon Valley Bank in early March. Michael Barr, who oversees banking supervision for the Federal Reserve, appeared before the Senate Banking Committee on Tuesday to discuss the conditions that prompted Silicon Valley Bank’s collapse earlier this month. Tuesday’s meeting was the first congressional hearing into the crisis that …

Silicon Valley Bank collapse concerns founders of color
2 years ago

Silicon Valley Bank collapse concerns founders of color

Associated Press  

In the hours after some of Silicon Valley Bank’s biggest customers started pulling out their money, a WhatsApp group of startup founders who are immigrants of color ballooned to more than 1,000 members. While Wall Street struggles to contain the banking crisis after the swift demise of SVB — the nation’s 16th largest bank and the biggest to fail since …

Deal to buy Silicon Valley Bank calms bank fears, for now
2 years ago

Deal to buy Silicon Valley Bank calms bank fears, for now

Associated Press  

NEW YORK — First Citizens Bank is buying much of Silicon Valley Bank, the tech-focused financial institution whose failure this month set off a chain reaction that helped rattle faith in banks around the world. “But losses are substantial: $20 billion is real money, even in Washington.” That $20 billion is referring to the loss the FDIC says its deposit …

Has First Citizens Bank purchased all loans and deposits of Silicon Valley Bank?
2 years ago

Has First Citizens Bank purchased all loans and deposits of Silicon Valley Bank?

Live Mint  

The downfall of Silicon Valley Bank left a bitter taste in the banking system as panic selling escalated with fears of contagion. In its statement on Monday, First Citizens said, it has entered into an agreement with the Federal Deposit Insurance Corporation to purchase out of FDIC receivership substantially all loans and certain other assets and assume all customer deposits …

Collapsed Silicon Valley Bank sold to US rival First Citizens
2 years ago

Collapsed Silicon Valley Bank sold to US rival First Citizens

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy First Citizens Bank has bought …

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know
2 years ago

First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know

Live Mint  

The US-based First Citizens BancShares Inc. has reached an agreement to acquire Silicon Valley Bank, which was taken over by regulators after a wave of withdrawals from the lender. The acquisition will expand First Citizens' presence in the technology and innovation hub of Silicon Valley, and will make it one of the largest banks in the US. Earlier this month, …

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