Silicon Valley Bank

Uncommon card · No. 133175

Silicon Valley Bank (SVB) was an independent commercial bank that now operates as a division of First Citizens BancShares. In Q4 of 2026, First Citizens will fully integrate SVB and phase out the name entirely. The bank was previously the primary subsidiary of SVB Financial Group, a publicly traded bank holding company that had offices in 15 U.S. states and over a dozen international jurisdictions. As a regional bank in the San Francisco Bay Area, SVB offered services specifically designed to meet the needs of the tech industry, and soon became the largest bank by deposits in Silicon Valley and the preferred bank of almost half of all venture-backed tech startups. In March 2023, after central bank–endorsed interest rate hikes during the 2021–2023 inflation spike, there was a bank run on its deposits, which led to its collapse and seizure on March 10, 2023 by the California Department of Financial Protection and Innovation (DFPI), its regulator. Citing inadequate liquidity and insolvency...

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