The collapsed Silicon Valley Bank had a workforce of 8,528 at the end of 2022.
SVB ranked as the 16th biggest bank in the United States at the end of last year, with about $209 billion in assets and $175.4 billion in deposits.
The lender’s main office in Santa Clara, California, and its 17 branches in California and Massachusetts will reopen on Monday, March 13, the FDIC said in a statement on Friday.
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Silicon Valley Bank staff offered 45 days of work at 1.5 times payEmployees of Silicon Valley Bank were offered 45 days of employment at one and a half times their salary by the Federal Deposit Insurance Corp, the US regulator that took control of the collapsed lender, according to an email to staff seen by Reuters.
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After Silicon Valley Bank's shutdown, uninsured depositors face tense waitData submitted by Silicon Valley Bank at the end of 2022 shows that 89% of its $175 billion in deposits were uninsured.
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Silicon Valley Bank is largest failure since financial crisis, billions strandedCalifornia banking regulators close Silicon Valley Bank and appoint the Federal Deposit Insurance Corporation as receiver for later disposition of its assets.
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US closes Silicon Valley Bank in biggest collapse since 2008US regulators pulled the plug on Silicon Valley Bank on Friday in a spectacular move that sent global banking shares into turmoil, as markets fretted over possible contagion from America&39;s biggest banking failure since the 2008 financial crisis.
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Silicon Valley Bank collapses after failing to raise capitalSilicon Valley Bank collapsed Friday morning after a stunning 48 hours in which it set off fears of a meltdown in the banking industry.
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Silicon Valley Bank slams global shares, US payrolls loomGlobal shares hit a two-month low as investors dumped banks on fears of contagion after a capital raising at Silicon Valley Bank, with U.S. payrolls figures also a focus ahead of the Federal Reserve meeting later this month. | Reuters
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