The Federal Deposit Insurance Corporation, ending its search for a buyer of the failed Silicon Valley Bank, announced late Sunday a government-backed deal in which First Citizens Bancorp will buy the bank's loans and assets.

The picture that is emerging of SVB is one of a bank whose leaders failed to plan for a realistic future and neglected looming financial and operational problems, even as they were raised by Fed supervisors.

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.

The Times profiled 30 people, who talked about their experience with homelessness, part of an effort to illuminate the challenges and occasional mundanity of unhoused people’s lives.

The city of Santa Clara ended a lengthy search when it hired a new city manager this week. The City Council voted 4-1 to appoint Jovan Grogan to fill the vacancy left by the previous city manager, Deanna Santana, who was fired last year. Grogan, who is currently the city manager of San Bruno, will start his new position in Santa Clara on May 1.

In the 24 months since Jan. 6, 2021, more than 950 individuals have been arrested in nearly all 50 states for crimes related to the breach of the U.S. Capitol, including over 284 individuals charged with assaulting or impeding law enforcement.

Reports filed with the state in the last six months showed 3,384 permanent layoffs among tech employers in Santa Clara County, and 8,765 permanent tech layoffs statewide since August.

Across the state, the mandatory minimum wage for all employers, regardless of the number of employees, will be $15.50 per hour.

The VTA board authorized the purchase of a high-tech tunnel boring machine for a massive underground train line under downtown from Berryessa to Diridon Station.

In a two-month spree, the suspect targeted at least 14 South Asian women, tore off necklaces and sped away in a getaway car.

Raymond Ruiz was fired from his position as an instructor in the college's Students with Developmental Disabilities program after the sexual assault allegations surfaced in 2020, and remains in custody awaiting trial on criminal charges.

Related Santa Clara, the developer of the massive residential-commercial project near Levi’s Stadium, this week contributed $100,000 to Mayor Lisa Gillmor’s reelection campaign through a newly established independent committee according to campaign documents filed Thursday.

Robert Seth Carter, 32, was shot and killed on Jan. 19 after he unsuccessfully attempted to carjack someone on Monroe Street and then T-boned another car while armed in the intersection of Park Avenue and W. Hedding Street. 

The grant fund will help improve public transportation connections to job centers, hospitals and other essential destinations from Caltrain, Amtrak and VTA stations.

The amusement park owned by Cedar Fair LP could shut down as soon as six years from now — and no more than 11 years from now — under the terms of a real estate agreement filed Monday with federal regulators.

Soccer’s showcase men’s world championship, the first edition with 48 teams, will visit Levi's Stadium in Santa Clara and 15 other cities in the United States, Mexico and Canada, including Los Angeles, Seattle and Vancouver on the West Coast.