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March 27, 2023

First Citizens Bank to Purchase Assets of Failed Silicon Valley Bank
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In financial news, First Citizens Bank announced it will purchase a
large portion of the assets of the failed Silicon Valley Bank. Seventeen
former branches of SVB will now operate as First Citizens banks. The
FDIC took over SVB earlier this month after a run on the bank caused it
to collapse in the second-largest bank failure in U.S. history.


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