First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B
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According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. See more for yourself here (https://news.bitcoin.com/first-citizens-bank-acquires-silicon-valley-bank-costing-fdic-deposit-insurance-fund-an-estimated-20b/).
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