First Citizens Adds to Its Collection of Failed Banks With SVB Purchase

The deal gives the North Carolina bank $219 billion in assets. Three years ago, it had $42 billion.

The SVB purchase will give First Citizens a prominent banking presence in California and a wealth-management business in the Northeast. Elijah Nouvelage/Bloomberg News

First Citizens Adds to Its Collection of Failed Banks With SVB Purchase

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First Citizens Adds to Its Collection of Failed Banks With SVB Purchase

The deal gives the North Carolina bank $219 billion in assets. Three years ago, it had $42 billion.

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