First Citizens to buy Silicon Valley Bank after run on lender
The deal transforms North Carolina-based First Citizens into one of the top 15 U.S. banks, as it buys about $72 billion of SVB's assets at a discount of $16.5 billion.
First Citizens BancShares Inc. agreed to buy Silicon Valley Bank, which was seized by regulators following a run on the lender.
The deal to settle SVB’s fate could help tamp down some of the turmoil that has engulfed the financial world, and shares of regional banks rallied on the news, with Fi
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