SVB Financial Group – First Citizens BancShares to Acquire Silicon Valley Bank, Including $72.0bn in Loans at Discount of $16.5bn; $90.0bn of SVB Securities to Stay w/FDIC, w/FDIC Getting “Up To” $500.0mn of “Equity Appreciation Rights” in First Citizens
March 27, 2023 – First Citizens BancShares has announced that it will acquire Silicon Valley Bank ("SVB") further to which it will purchase about $72.0bn in loans at a discount of $16.5bn and the transfer of deposits worth $56.0bn. The FDIC, which took control of SVB earlier this month, said in a separate statement that approximately…