More than half of the deposits that Silicon Valley Bank had when it was closed by regulators were gone by the time that First Citizens BancShares Inc. agreed to buy what was left on Sunday.
When regulators seized Santa Clara-based Silicon Valley Bank March 10, it had $119 billion in deposits, the Federal Deposit Insurance Corp. said in a press release Sunday. As part of its deal to acquire much of the institution, First Citizens said is assuming all of its remaining deposits, the federal agency…
