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The March 27 purchase by First Citizens Bancshares of all assets and liabilities of the failed Silicon Valley Bank did not include a community reinvestment pledge signed by SVB in 2021 as part of an acquisiton of Boston Private Bank.
Read More 4San Jose Inside (https://www.sanjoseinside.com)
The FDIC move came less than two hours after a decision by tech funding giant SV Financial Group, parent company of Silicon Valley Bank, to halt trading shortly after markets opened this morning on NASDAQ – after its stock collapsed in 24 hours from $176.55 to $39.25 per share – sent shock waves across financial markets worldwide.
Read More 14The city had estimated that the $25 fees would yield $1.3 million, to be collected by a non-profit foundation established to distribute all fee revenue to community-based programs focused on reducing gun violence. That revenue estimate was based on 100% participation of the city’s estimated 52,000 gun-owning households – one of every 15 city adults.
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