Silicon Valley Bank is the first FDIC-insured bank to fail in over two years. The Bank had about $209 billion in total assets and $175.4 billion in total deposits, as of Dec. 31, 2022.

SVB $150 billion non-retail deposits not covered by FDIC insurance. What constitutes a non-retail deposit? Anyone?

If you had money in SVB, please be wary of scams. There will be many purported emails from SVB, FDIC, or others that will claim they will have your deposits. Only deal through official channels.

SVB’s parent group announced Wednesday it had started selling its $21 billion in bonds. The Federal Deposit Insurance Corporation (FDIC) was appointed as the collapsed bank’s receiver on Friday, as all its branches were closed across multiple states.

Sad to report the FDIC has confiscated my swear jar due to winning no cussing club