bank failure – San Jose Inside

Silicon Valley Bank’s Ex-C.E.O. Is ‘Truly Sorry’ but Deflects Blame

Barry Holtzclaw — Thu, 18 May 2023 21:39:20 +0000

Senators derided SVB's former CEO Gregory Becker at a hearing about the reasons for the failure of his bank. “It sounds a lot like ‘my dog ate my homework,’” one said

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Federal Regulators Prepare to Seize and Sell First Republic Bank

Barry Holtzclaw — Mon, 01 May 2023 03:53:14 +0000

A Sunday night deadline loomed as JPMorgan and PNC were said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.

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Silicon Valley Bank Branches Re-Open as First Citizens Bank

Barry Holtzclaw — Mon, 27 Mar 2023 16:16:27 +0000

The Federal Deposit Insurance Corporation, ending its search for a buyer of the failed Silicon Valley Bank, announced late Sunday a government-backed deal in which First Citizens Bancorp will buy the bank's loans and assets.

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Feds Announce That All SVB Depositors Will Get Their Money Beginning This Week

Barry Holtzclaw — Mon, 13 Mar 2023 16:20:56 +0000

The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced in a joint statement Sunday that all Silicon Valley Bank depositors will have access to all of their money starting Monday, March 13, and that none of these costs will be paid by U.S. taxpayers.

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Making Sense of the Silicon Valley Bank Collapse

Barry Holtzclaw — Mon, 13 Mar 2023 15:00:26 +0000

For most banks, higher interest rates are good news because they can charge more for loans. But for SVB, they hurt.

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Silicon Valley Bank Paid Bonuses Just Before Feds Shut It Down

The Fly — Mon, 13 Mar 2023 12:45:38 +0000

Insiders told a business news network that the Santa Clara-based bank has historically paid employee bonuses on the second Friday of March.

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