Silicon Valley Bank collapse is second largest bank collapse in US history

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Silicon Valley Bank failed after a bank run on its deposits and was taken into receivership by the Federal Deposit Insurance Corporation.

WASHINGTON – Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.

All insured depositors will have full access to their insured deposits no later than Monday morning, March 13, 2023. The FDIC will pay uninsured depositors an advance dividend within the next week. Uninsured depositors will receive a receivership certificate for the remaining amount of their uninsured funds. As the FDIC sells the assets of Silicon Valley Bank, future dividend payments may be made to uninsured depositors.

Silicon Valley Bank had 17 branches in California and Massachusetts. The main office and all branches of Silicon Valley Bank will reopen on Monday, March 13, 2023. The DINB will maintain Silicon Valley Bank’s normal business hours. Banking activities will resume no later than Monday, March 13, including on-line banking and other services. Silicon Valley Bank’s official checks will continue to clear. Under the Federal Deposit Insurance Act, the FDIC may create a DINB to ensure that customers have continued access to their insured funds.

As of December 31, 2022, Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits. At the time of closing, the amount of deposits in excess of the insurance limits was undetermined. The amount of uninsured deposits will be determined once the FDIC obtains additional information from the bank and customers.

Customers with accounts in excess of $250,000 should contact the FDIC toll–free at 1-866-799-0959.

The FDIC as receiver will retain all the assets from Silicon Valley Bank for later disposition. Loan customers should continue to make their payments as usual.

Silicon Valley Bank is the first FDIC–insured institution to fail this year. The last FDIC–insured institution to close was Almena State Bank, Almena, Kansas, on October 23, 2020.

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CNBC’s Hugh Son and Deirdre Bosa join ‘Squawk on the Street’ to discuss their thoughts on SVB Financial and where they see the bank heading (CNBC). YouTube Tips ⓘ

Alison Greenberg, CEO of Ruth Health, describes to CNN’s Erin Burnett what it was like to urgently withdraw money from Silicon Valley Bank before it collapsed (CNN). YouTube Tips ⓘ

The Silicon Valley Bank ($209 billion) collapse is the second-largest US bank failure in history, following Washington Mutual ($434 billion) in 2008. Third place goes to Continental Illinois National Bank and Trust ($117 billion) in 1984.

QUARTZ | Silicon Valley Bank is the second-largest US bank failure in history

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Daily Mail | CEO of Silicon Valley Bank sold $3.57 million of stock in the troubled bank just TWO WEEKS before its dramatic collapse in automated trade planned on January 26 – and CFO ditched $575,000 the same day

yahoo!news | SVB’s Stranded Deposits Spread the Pain From Tech to Napa Valley

yahoo!finance | Silicon Valley Bank imploded in a single day. It could be just the tip of the iceberg.

yahoo!news (Bloomberg) | As Banks Topple, Regulators Face Reckoning on Week of Mayhem

yahoo!finance | The Silicon Valley Bank crisis will force the Fed to slash rates by 100 basis points to prevent contagion, market guru says

yahoo!finance | Crypto Shaken as SVB Exposure Depegs $37 Billion Stablecoin

COINTELEGRAPH | USDC slowly repegs on unconfirmed reports of SVB resolution

FOX Business | Silicon Valley Bank collapse: Mark Cuban says Fed should ‘immediately’ take this action

Decrypt | Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche

AXIOS | Roku, Etsy among companies impacted by Silicon Valley Bank collapse

PBS | Silicon Valley Bank’s failure shakes companies worldwide, from wine country to London

FOX Business | Silicon Valley Bank collapse hits companies such as Camp, Compass Coffee

Fast Company | Here’s how bad the damage is for Silicon Valley Bank’s public clients


The bank’s customers were primarily in the industries of technology, life science/healthcare, private equity/venture capital and premium wine.

Clients listed on SVB’s official website include …




Pivot energy


Businesses also affected* by SVB failure according to news media sources (some are affect financially, but not operationally with disruption) …






Compass Coffee



Eiger Biopharmaceuticals



Ginkgo Bioworks Holdings

LendingClub Corporation

Nova Labs






Rocket Lab USA

Ruth Health

Sangamo Therapeutics


Vox Media


Yuga Labs

* Some companies listed may not have any negative impact due to minimal exposure the SVB bank failure. Also, some companies may have removed their funds before the bank failure.

Silicon Valley Bank (SVB) was a commercial bank headquartered in Santa Clara, California. SVB was the 16th largest bank in the United States at the time of its failure in March 2023. SVB was the largest bank by deposits in Silicon Valley.

SVB Timeline


Nasdaq IPO: SIVB

Began US Expansion to 15 states

Opened Israel office

Appointed Greg Becker CEO

Launched UK branch &
Opened joint venture bank in China

Opened Ireland office

Opened Germany office

Acquired healthcare investment bank Leerink Partners

Opened Global Delivery Center in India

Opened Canada office

Opened Denmark office

Acquired WestRiver Group’s Debt Investment Business

Celebrated the 10th annual Tech Gives Back week of community service

Acquired Boston Private, a leading provider of wealth management, trust and banking services

Announced $11.2 billion, five-year Community Benefits Plan

Launched Nasdaq Private Market with Nasdaq, Citi, Goldman Sachs and Morgan Stanley

Launched technology investment banking practice and acquired equity research firm MoffettNathanson

Announced commitment to provide $5 billion in sustainable finance and set goal to achieve carbon neutral operations by 2025

Welcomed Kay Matthews as Chair of SVB Board of Directors

Bank Failure

FOX Business’ Neil Cavuto, Susan Li and Kaltbaum Capital Management’s Gary Kaltbaum discuss California regulators closing Silicon Valley Bank and the impact on its customers (FOX Business). YouTube Tips ⓘ

MacroMavens founder Stephanie Pomboy discusses the closing of Silicon Valley Bank and how things are likely to get worse on ‘The Bottom Line’ FOX Business. YouTube Tips ⓘ

‘Breitbart Business Digest’ co-author and economics and finance editor John Carney reacts to the FDIC taking control of Silicon Valley Bank deposits on ‘Kudlow’ FOX Business. YouTube Tips ⓘ

White House reacts to Silicon Valley Bank collapse with White House press secretary Karine Jean-Pierre press conference, Friday, March 10, 2023. YouTube Tips ⓘ is an Amazon Associate website, which means that a small percentage of your purchases gets paid to at no extra cost to you. When you use the search boxes above, any Amazon banner ad, or any product associated with an Amazon banner on this website, you help pay expenses related to maintaining and creating new services and ideas for a resourceful website. See more info at