SVB Private accounts will transition to First Citizens in November.

Yes. SVB has been operating as a division of First Citizens Bank since March 27, 2023 when the bank was acquired. SVB is serving the same investor and innovation economy clients that it has for the past 40 years – with the financial backing of First Citizens, a family-controlled, full-service bank that has been helping clients pursue their financial goals for more than 125 years.

SVB Private clients whose accounts have not yet transitioned to First Citizens can expect a transition of deposit and loan accounts and services to First Citizens. Following this transition, clients will have access to an expanded array of services and solutions to meet banking, borrowing and investment needs.

Specific information regarding changes to your accounts and services will be sent to you by mail in early October, in advance of the transition. Be sure to watch your mail and email for information and updates. As always, you may still reach out to your banker with any questions.

The SVB Private brand name will be discontinued at the end of 2024 following the transition of SVB Private accounts—which includes those opened with Boston Private—to First Citizens.

The SVB Commercial business will continue to operate as a division of First Citizens Bank using the SVB and Silicon Valley Bank names. 

Yes, at this time, you should continue to work with your same team. Following the transition of your accounts and services to First Citizens, you may be introduced to new or additional team members at First Citizens who will work with you to meet your financial needs. We’ll take great care in ensuring a seamless transition of your relationship and will provide you with personalized service and support.

For accounts that have yet to transition, you can continue to access them as you always have. Following the transition of SVB Private accounts to First Citizens in November 2024, you’ll have online access to your accounts through First Citizens Digital Banking. You’ll also have access to your accounts at more than 500 First Citizens Bank branches nationwide.

Yes, First Citizens is fully committed to continuing to help innovators, entrepreneurs and investors. Headquarted in the “technology triangle” in North Carolina, First Citizens has a proven track record and a deep understanding of the innovation and technology sectors and offers customized financing solutions and financial advisory services to support innovation and technology clients’ unique needs. In addition, SVB Commercial continues to operate as a division of First Citizens Bank and has the same focus on supporting the innovation economy it always had.