They've been acquired by a newly formed bank from the FDIC. I'm not sure that bank will be around much longer than it takes to mark their assets to market, since the press release said they didn't know:

> At the time of closing, the amount of deposits in excess of the insurance limits was undetermined. The amount of uninsured deposits will be determined once the FDIC obtains additional information from the bank and customers.

No bank is gonna buy another bank until that is cleared up.

Assets - 100b Liabilities - 130b

Who is going to buy this bank? I wouldn’t take it if you gave me 40b. That’s why they had to make a new bank.

Probably the good old federal government. Something something too big to fail.

I love the optics of remnants of Silicon Valley bank being owned by the gov alongside Fannie and Freddie. Behold the graveyard of poor risk management.