Bridge Bank

Silicon Valley Bridge Bank, N.A. was established on March 10, 2023, by the FDIC as the successor to Silicon Valley Bank (SVB), which was closed by the California Department of Financial Protection and Innovation. The creation of the bridge bank was a critical measure to stabilize the institution, protect all depositors (both insured and uninsured), and ensure continuity of banking services for its clients, which primarily consist of technology companies, startups, and venture capital firms. On March 27, 2023, First-Citizens Bank & Trust Company acquired all deposits and loans of Silicon Valley Bridge Bank, N.A. The operations now continue as "Silicon Valley Bank, a division of First Citizens Bank."