Data / Bank failures / 2023 / Silicon Valley Bank
Silicon Valley Bank, Santa Clara, CA: failed March 10, 2023
Silicon Valley Bank in Santa Clara, California, failed on March 10, 2023. First-Citizens Bank & Trust Company of Raleigh, NC, took over its deposits. It held $209.03 billion in assets and $175.38 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $18.74 billion (9% of its assets). By assets it was the 2nd largest of 5 banks closed or assisted in 2023.
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The FDIC's record
- Closed
- March 10, 2023
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First-Citizens Bank & Trust Company, Raleigh, NC
- Total assets
- $209,026,000,000
- Total deposits
- $175,378,000,000
- Estimated cost to the FDIC
- $18,744,254,463 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 24735
Other bank failures in California, 2021 to 2025
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First Republic Bank | San Francisco | May 1, 2023 | $212.64 billion | $176.44 billion | $15.50 billion | JPMorgan Chase Bank, N.A. |
Other failed banks First-Citizens Bank & Trust Company took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Guaranty Bank | Milwaukee | WI | May 5, 2017 | $1.03 billion | $1.00 billion | $132 million | First-Citizens Bank & Trust Company |
| Harvest Community Bank | Pennsville | NJ | January 13, 2017 | $124.2 million | $122.2 million | $22.2 million | First-Citizens Bank & Trust Company |
| First Cornerstone Bank | King of Prussia | PA | May 6, 2016 | $103.3 million | $101 million | $10.8 million | First-Citizens Bank & Trust Company |
| North Milwaukee State Bank | Milwaukee | WI | March 11, 2016 | $67.1 million | $61.5 million | $11.8 million | First-Citizens Bank & Trust Company |
| Capitol City Bank & Trust Company | Atlanta | GA | February 13, 2015 | $272.3 million | $262.7 million | $95.9 million | First-Citizens Bank & Trust Company |
| Colorado Capital Bank | Castle Rock | CO | July 8, 2011 | $665.8 million | $635.2 million | $254.9 million | First-Citizens Bank & Trust Company |
| First Regional Bank | Los Angeles | CA | January 29, 2010 | $2.08 billion | $1.66 billion | $224.1 million | First-Citizens Bank & Trust Company |
| Venture Bank | Lacey | WA | September 11, 2009 | $968.4 million | $917.7 million | $201.1 million | First-Citizens Bank & Trust Company |
All bank failures in 2023 · All bank failures in California · Every failed bank First-Citizens Bank & Trust Company took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.