A Sunday night deadline loomed as JPMorgan and PNC were said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.

For most banks, higher interest rates are good news because they can charge more for loans. But for SVB, they hurt.

A of Sept. 30, initial public offerings in California had raised just $177 million, compared to an average of $16 billion during the same period over the past five years. That's just 2% of funds generated by U.S. companies that went public through the end of September. Last year at this time, California accounted for 39% of funds nationally.

In addition to the San Jose Marriott, the deal includes the Ritz-Carlton in San Francisco and the Fairmont Sonoma Mission Inn & Spa, plus other hotels in California and Florida, with a total value of $3.8 billion.

Additionally, the utility will appoint a “chief transition officer” and begin a process to sell the company, according to recent news reports.

Silicon Valley was rocked by several high-profile harassment scandals in 2017, both before and after the #MeToo movement swept the country.