Silicon Valley Bank to Be Acquired by First Citizens After Biggest US Bank Collapse Since 2008

Silicon Valley Bank to Be Acquired by First Citizens After Biggest US Bank Collapse Since 2008

ByNews Polite

US bank First Citizens said Monday it has agreed to purchase all loans and deposits from Silicon Valley Bank, whose collapse this month sparked global fears about the sector. SVB, a key lender to the tech industry since the 1980s, became the biggest US bank to fail since 2008 when…