Silicon Valley Bank is known to many companies in the state that have used it for commercial banking.
Ranji Sinha, KIRO 7 NewsSEATTLE — The collapse of Silicon Valley Bank is being felt across the country as well as here in Washington.
It’s not fully clear what, if anything, happens to those offices after the bank’s collapse last Friday. “ big sigh of relief there are still concerns around credit cards backed by SVB and lines of credit,” said Parker. CBS News cameras caught images of customers lined up early Monday outside SVB’s Santa Clara, Calif., branch to withdraw money. Parker said local companies spent the weekend opening accounts at new banks — a process that normally takes a week. In this case, banks waived that time constraint.
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