As of Monday, the 17 former branches of Silicon Valley Bank will operate as First Citizens branches
First Citizens Bancshares’ stock ended Monday’s trading at $895.61, up 53.7% and approaching the stock’s all-time high of $907.04 on Sept. 2, 2021.
First Citizens Banchsares
First Citizens Bancshares Inc.’s stock rallied 54% Monday in its largest-ever single-day rise after the company agreed to assume all the deposits and loans of Silicon Valley Bridge Bank from the Federal Deposit Insurance Corp., the regulator announced on Monday.
As of Monday, the 17 former branches of Silicon Valley Bank will operate as First Citizens FCNCA branches, FDIC said. The FDIC has been trying to auction off Silicon Valley Bank for about two weeks, since it became the largest U.S. bank to go bust since Washington…
