Silicon Valley Bank Related Content

First Citizens Appoints Cadieux President of Silicon Valley Bank Commercial

First Citizens Bank appointed Marc Cadieux, a 30-year veteran of Silicon Valley Bank, president of Silicon Valley Bank's commercial banking business. Based in the California Bay Area, Cadieux will lead the SVB Commercial team of more than 1,000 bankers. read more

First Citizens Cuts Staff Brought Over in Silicon Valley Bank Acquisition

According to Axios, following its acquisition of Silicon Valley Bank out of FDIC receivership at the end of March, First Citizens Bank fired approximately 500 employees brought over as part of the acquisition this week. read more

First Citizens Claims HSBC’s Silicon Valley Bank Staffing Additions ‘Violated Federal Law’

Reuters reported that First Citizens Bank filed a lawsuit against HSBC after it hired “dozens” of former Silicon Valley Bank employees in April. According to Reuters, First Citizens is alleging that HSBC “violated federal law by hiring away the workers.” read more

First Citizens Bank Renews $14MM Credit Facility for Flux Power

Flux Power, a developer of lithium-ion energy storage solutions for the electrification of commercial and industrial equipment, renewed the available credit under its existing $14 million facility with First Citizens Bank. read more

HSBC Adds ‘Dozens’ of Former Silicon Valley Bank Employees to US Division

According to Reuters, David Sabow, the former head of technology and healthcare in North America for Silicon Valley Bank, is leading a team of “dozens” of former Silicon Valley Bank employees in joining HSBC’s U.S. division. read more

First Citizens Bank Acquires Silicon Valley Bank in Whole Bank Purchase

First Citizens Bank entered into an agreement with the Federal Deposit Insurance Corporation to purchase out of FDIC receivership substantially all loans and certain other assets and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank. read more

Major US Banks Deposit $30B in First Republic in Wake of Silicon Valley Bank Collapse

Last week, 11 banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, combined to make $30 billion in uninsured deposits in First Republic Bank to display confidence in the U.S. banking system following the collapse of Silicon Valley Bank. read more

Kirby McInerney Files Class Action Lawsuit on Behalf of SVB Financial Investors

Kirby McInerney announced a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired SVB Financial Group securities during the period from June 16, 2021, through March 10, 2023. read more

Silicon Valley Bank Appoints New Leadership to Support Innovation Economy Clients

Silicon Valley Bank named Ashraf Hebela the new head of technology and healthcare banking for North America. The company also announced that Lewis Hower will step up to lead startup banking. read more

Tenet Secures Warehouse Facility with Funding from Silicon Valley Bank

Tenet, an electric vehicle financing platform, secured an electric vehicle only warehouse facility by entering into a warehouse financing agreement of up to $20 million with Silicon Valley Bank to fund Tenet's electric vehicle loans. read more

SVB and Trinity Capital Provides $17.5MM in Financing to Ambient Photonics

Ambient Photonics closed the financing for its U.S. solar manufacturing facility, with Silicon Valley Bank and Trinity Capital adding $17.5 million in debt financing to the company’s equity investments of $31 million, raising Ambient’s combined equity and debt funding to $48.5 million. read more

BofA Merrill Lynch Arranges $160MM Term Financing for SolarCity

SolarCity said it closed a $160 million term facility. BofA Merrill Lynch was said to have served as mandated lead arranger and sole bookrunner. KeyBank and Silicon Valley Bank served as joint lead arrangers. read more

SunTrust Provides IronPlanet With New $55MM Debt Financing

IronPlanet said it closed a new $55 million senior secured credit facility with a syndicate of lenders led by SunTrust Bank as administrative agent. read more

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