(Seoul = Yonhap Infomax) Reporter Kim Ji-yeon = First Citizens Bankshares (First Citizens), a small bank in the United States, has agreed to take over the bankrupt Silicon Valley Bank (SVB).
According to CNBC on the 27th (local time), the United States Federal Deposit Insurance Corporation (FDIC) announced in a press release that “17 branches of SVB and National Association are relaunching as First Citizens Bank and Trust Company. “
SVB and National Association customers can continue to use their current bank branches until further notice of a system transfer, the FDIC said.
Initially, SVB’s bankruptcy trustee, the FDIC, was discussing a plan to split up and sell the division, but in the end First Citizens ended up taking over the deposit and loan divisions.
Headquartered in Raleigh, North Carolina, First Citizens is a small and medium-sized bank with assets ranked 30th among commercial banks in the United States at the end of 2022.
jykim@yna.co.kr
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