Silicon Valley Bank FAQ
Silicon Valley Bank, a division of First Citizens Bank, is dedicated to the success of the innovators and investors shaping the future. Founded in 1983 in San Jose, California, we specialize in serving investors, technology and life science companies from Silicon Valley to Boston, New York to Los Angeles and beyond. We're backed by the strength and stability of First Citizens Bank, a 125-year-old institution, as we continue our more than 40-year legacy fostering growth in the innovation economy.
Our specialized expertise and comprehensive financial solutions are designed to help our clients grow, navigate challenges and seize opportunities.
We serve a diverse range of industries and clients of all sizes:
- Innovation: From pre-seed startups to large, publicly traded companies in technology, life sciences and healthcare sectors.
- Investment funds: Venture capital and corporate venture funds fueling innovation at all stages, as well as private equity firms across various sectors.
Frequently asked questions about Silicon Valley Bank
In March 2023, Silicon Valley Bank was acquired by First Citizens Bank on March 27, 2023, marking a pivotal transition toward renewed strength and stability, following a bank run. Today, Silicon Valley Bank is operating as a division of First Citizens Bank with most of the same employees and clients:
- Enhanced financial strength: As a division of First Citizens Bank, we now operate with backing of a top 20 U.S. financial institution. This partnership combines SVB’s innovation economy expertise with First Citizens Bank’s long standing financial stability and diverse client and deposit base.
- Robust risk management: First Citizens Bank has a strong risk management framework that meets current regulatory requirements and is scalable for future growth. This aligns with First Citizens Bank’s long-standing focus on effective risk management and regulatory compliance.
- Continued innovation focus: Our core focus continues serving investors, entrepreneurs and enterprises in the technology, healthcare and life sciences sectors. We offer specialized teams and products built to support companies across enterprise software, fintech, cleantech and sustainability, hardware and frontier tech, life sciences and healthcare at every stage of growth. .
- Comprehensive client support: Across the First Citizens Bank platform, our bankers have a deep understanding of the sectors they serve, offer expert guidance and tailored solutions built for our clients at every stage of their growth journey.
- Long-term vision: We aim to build lasting financial security that grows with the ambitions of our clients’ communities and colleagues, aligning SVB’s innovation focused approach with First Citizens Bank’s legacy of stability.
Yes, Silicon Valley Bank is operating as Silicon Valley Bank, a division of First Citizens Bank.
Key points
- Current status: SVB serves clients in the innovation economy, operating under the name Silicon Valley Bank, a division of First Citizens Bank.
- Acquisition: First Citizens Bank acquired SVB on March 27, 2023.
- Serving clients: SVB maintains its focus on serving private equity, venture capital, technology, life sciences and healthcare sectors, offering specialized financial solutions.
- Stability: The acquisition by First Citizens Bank stabilized SVB’s financial position.
- Future focus: SVB remains committed to the innovation economy and supporting companies and investors at all stages of growth.
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™.
While SVB operates as a division of First Citizens Bank, our services remain distinct and specialized for investors and the innovation economy. SVB clients access a suite of tailored financial solutions and a digital banking platform, designed specifically for the needs of the innovation economy. First Citizens retail, business and wealth clients access services online and via a nationwide branch and ATM network.
SVB empowers global cross-border transactions by helping entrepreneurs and investors in emerging innovation centers worldwide access U.S.-based banking services, U.S. market entry advice, and strategic introductions. Our U.S.-based banking services include comprehensive foreign exchange solutions across 90+ currencies, as well as liquidity and trade finance solutions. These are supported by our digital banking platform, which enables easy, fast, and secure global payments. SVB Global Gateway Group specializes in serving technology and life sciences companies and venture capital funds in international markets.
First Citizens Bank, and its divisions including Silicon Valley Bank, is a member of the FDIC. Client deposits in the U.S. continue to be insured by the FDIC up to the maximum amount allowed by law. This maximum amount is $250,000 per depositor, per insured bank, for each account ownership category.
For client questions
Please log in to your Silicon Valley Bank digital banking platform and access our help resources or contact Client Support at 1.800.774.7390, 5:00 a.m. – 5:30 p.m PT M-F.
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