FDIC Takes over Silicon Valley Bank

Re:FDIC Takes over Silicon Valley Bank by czbond on Friday March 10, 2023 @12:32PM (#35097824)

Chase has wanted this bank for years. Either they are taking advantage (takeover) or <conspiracy theory unfounded> helped accelerate it.

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by gumby on Friday March 10, 2023 @12:36PM (#35097881)

Most of the good people moved to First Republic over the past few years. That caused me to have my current startup at FR after more than 25 years of SVB.

So I don’t think there was much for Chase to buy. SVB has been in decline for a while

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by ashwagary on Friday March 10, 2023 @02:17PM (#35099419)

Just saw a First Republic stock chart in crash territory, contagion?

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by everybodyknows on Friday March 10, 2023 @03:00PM (#35100062)

Today's price range: 45-95

https://www.cnbc.com/quotes/FRC?qsearchterm=first

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by gumby on Friday March 10, 2023 @03:02PM (#35100091)

S&P bank sector is down across the board, but presume it will regress to the mean fairly soon. Aren't many other banks with exposure similar to SVB's.

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by alfalfasprout on Friday March 10, 2023 @03:56PM (#35100903)

First republic is in the same region and has a ton of tech clients. Collateral damage. So far it looks like they don't have the same exposure as SVB did though.

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by VirusNewbie on Friday March 10, 2023 @03:10PM (#35100188)

Interesting you say this, their stock is up despite rest of my portfolio being red

[ Parent | on HN ]

Re:FDIC Takes over Silicon Valley Bank by czbond on Sunday March 12, 2023 @12:00AM (#35116857)

Flight to safety? Like when there was the Southwest Airlines December debacle - AAL skyrocketed for a bit.

[ Parent | on HN ]