First Residents Financial institution agreed to purchase Silicon Valley Financial institution’s deposits and loans, the U.S. Federal Deposit Insurance coverage Company stated Monday.
“The 17 former branches of Silicon Valley Bridge Financial institution, Nationwide Affiliation, will open as First–Residents Financial institution & Belief Firm on Monday, March 27, 2023,” the FDIC stated within the launch.
“Prospects of Silicon Valley Bridge Financial institution, Nationwide Affiliation, ought to proceed to make use of their present department till they obtain discover from First–Residents Financial institution & Belief Firm that programs conversions have been accomplished to permit full–service banking in any respect of its different department areas.”
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