All Boston-Area SVB Private Branches to Rebrand
First Citizens Bank will finally plant its flag in Greater Boston roughly a year after buying Silicon Valley Bank following the latter’s March 2023 collapse.
SVB Loans, Deposits Shrank in Q4
Silicon Valley Bank recorded lower deposits and loans in the fourth quarter of last year as the nation’s innovation economy continues to suffer under the weight of higher interest rates and investor expectations.
SVB Banker, Three CRE Figures Named ‘Outstanding Young Leaders’
Three figures in the local commercial real estate scene and one local banker were honored by the Greater Boston Chamber of Commerce.
Leader Bank Hires Second Banker for Startup/VC Team
Leader Bank has added a second former First Republic Bank employee to its team focused on banking Greater Boston’s tech sector.
JPMorgan, Cambridge Savings Vault into Ranks of Top Deposit-Holders
Seven out of the top 10 banks in terms of deposits gathered in Massachusetts saw declines in deposits as of the end of June according to FDIC data released this week.
SVB Commercial Launches Ad Campaign as Rivals Look to Grow
First Citizens Bank is moving to reaffirm innovation banking arm SVB Commercial’s presence in tech hubs around the country through a new advertisement campaign as local competitors look to challenge SVB’s dominance in the tech and biotech sectors.
SVB, First Republic Still Prove Fruitful Hunting Grounds
It’s been almost six months since Silicon Valley Bank and First Republic Bank failed but Massachusetts banks are continuing to hire top-tier talent away from the two failed banks’ successors with the intent of bringing in more business to their books.
Boston Execs Kept on in First Citizens Wealth Shakeup
First Citizens Bank is combining its existing wealth management unit and SVB Private, the former private banking and wealth management business of now-defunct Silicon Valley Bank, under a shared management structure.
Leader Bank Hires from First Republic to Build Startup Banking Unit
Arlington-based Leader Bank has become the second Boston-area community bank to intentionally pursue clients in the region’s tech economy with the hiring of eight-year First Republic Bank veteran Vitaliy Schafer.
First Citizens Says SVB Deposits Stabilized at $40B
A full quarter after acquiring of Silicon Valley Bank, Raleigh, North Carolina-based First Citizens Bank said SVB’s deposits have stabilized, and that it believes SVB’s product offerings remain relevant to the innovation economy.
Banker & Tradesman’s Editorial Cartoon: Fishing Trophies
Banks are going fishing for new talent, and coming up with big victories.
Cambridge Trust Hires Away SVB, First Republic Bankers
Cambridge Trust Co. has joined the ranks of local financial institutions recruiting Silicon Valley Bank and ex-First Republic Bank employees after picking up two business banking staffers.
Leerink Partners Returns After SVB Judge OK’s Buyout
The investment bank arm of Silicon Valley Bank is back to being an independent entity after the judge in SVB’s Chapter 11 bankruptcy proceedings approved a $55 million buyout offered by the unit’s executives.
Mass. Startups Rethink Banking Relationships
Silicon Valley Bank’s March collapse may have vanished from the headlines, but the resulting dust is far from settled as its successor and a prominent local bank jockey for the opportunity to serve Massachusetts’ tech and biotech startups.
First Citizens Lays off Hundreds of SVB Employees
Following its collapse and subsequent acquisition by First Citizens Bank, hundreds of SVB employees were laid off yesterday.
Senators, Bank CEOs Trade Bank Failure Accusations
Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday, instead using their time to assign blame to events they said were largely out of their control.
CEO Pay in Focus as Failed Bank Heads Testify
The recent failures of a trio of midsize banks has once again raised questions about whether senior executives in the U.S. are being rewarded more for short-term gains – like rising stock prices – than for ensuring their companies’ long-term health.
FDIC to Exclude Small Banks from Special Assessment
If your bank has less than $5 billion in uninsured deposits, it will be exempted from a new FDIC fee being levied on the nation’s banks in order to replenish the agency’s deposit insurance fund.
First Citizens Reports SVB Deposit Flight Tapered Off
In addition to a $10 billion windfall that came with its acquisition of the failed Silicon Valley Bank in March, First Citizens Bank’s first-quarter earnings call Wednesday morning offered an even more important sign the deal will pay off.
Beat-Up Banks Leave Real Estate Waiting
Last week’s bank earnings reports confirm: It’s going to be a long wait before projects will be able to find ready financing again.
