叠濒补肠办蝉迟辞苍别听Inc. and听础辫辞濒濒辞听Global Management听飞别谤别听补尘辞苍驳听补产辞耻迟听20听产颈诲诲别谤蝉听for some听补蝉蝉别迟蝉听of collapsed Silicon Valley Bank, the Federal Deposit Insurance Corporation (FDIC)聽聽on Wednesday.
PNC Financial Services, Valley Bank, Citizens Bank and BankUnited听飞别谤别听also聽补尘辞苍驳听the听产颈诲诲别谤蝉, the FDIC said in a summary document, adding that one or more聽产颈诲诲别谤蝉听submitted more than one bid.
The bids, which closed on March 10,听飞别谤别听followed by First Citizens BancShares 聽all the loans and deposits of SVB later that month.
SVB was the largest bank since the听2008 financial crisis聽聽when California regulators closed the bank on March 10, sparking massive market disruption and heightened stress across the banking sector globally.
That was since eclipsed by First Republic Bank聽which was聽 in early May and sold to JPMorgan Chase & Co..
FDIC, which took over SVB after depositors rushed to pull out their money in the bank, received equity appreciation rights in its stock worth as much as $500 million in return.
The deal announced in March said First Citizens would acquire听厂痴叠’蝉听补蝉蝉别迟蝉听of $110 billion, deposits of $56 billion and loans of $72 billion. – Reuters
