First Citizens' Silicon Valley Bank acquisition leads to massive profit gain.
TL;DR
First Citizens Bancshares has made a significant gain on its acquisition of Silicon Valley Bank's Florida-based subsidiary, First Citizens Bank & Trust Company. The deal, which was completed in January, has boosted First Citizens' assets by $8.2bn and expanded its presence in Florida.
- First Citizens makes huge gain on Silicon Valley Bank deal Financial Times
- First Citizens Stock Surges as SVB Collapse Was Winner for the Bank Barron's
- First Citizens reports $9.5 billion profit on Silicon Valley Bank acquisition MarketWatch
- First Citizens BancShares records $9.8 bln gain from Silicon Valley Bank purchase Reuters
- First Citizens to Halt Originating New General Office Loans Bloomberg
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