Silicon Valley Bank, a popular digital bank for startups that was founded in 1983, collapsed last Friday after the FDIC took it over, citing “inadequate liquidity and insolvency.” The Federal Deposit Insurance Corporation — more commonly known as the FDIC — seized SVB’s $209 billion in assets, making it the biggest bank to fail since the 2008’s Great Recession.
Companies affected by the shutdown include a range of startups and tech companies, many issuing public statements over the weekend detailing how much money they held with the bank and advising a pause in payroll account access is regained.
Here are some companies known to have worked with Silicon Valley Bank, updated as news rolls in.
Finder has done its best to vet that companies listed in this table had some dealings with SVB at some point in the past. Please contact us if you find an error.
What Silicon Valley Bank’s shutdown means for customers
The FDIC issued a press release on March 12, 2023, announcing that it had immediately transferred all insured deposits to the newly created Deposit Interest National Bank of Santa Clarita (DINB). The FDIC assured depositers full access to their insured deposits by Monday, March 13, 2023.
For depositers whose assets total more than the $250,000 covered by the FDIC’s standard insurance, the FDIC has announced it will pay “an advance dividend within the next week” with possible “future dividend payments” as the government sells off SVB’s assets.
The FDIC advises customers whose accounts total more than $250,000 to call 866-799-0959 for more information.
Image: Getty
Who is most likely to be researching companies impacted by the SVB collapse?
Finder data suggests that men aged 25-34 are most likely to be researching this topic.
Response
Male (%)
Female (%)
65+
4.20%
2.92%
55-64
7.62%
3.63%
45-54
10.53%
5.41%
35-44
13.95%
7.90%
25-34
15.23%
10.11%
18-24
11.96%
6.55%
Source: Finder sample of 1,405 visitors using demographics data from Google Analytics
Richard Laycock is Finder’s NYC-based senior content marketing manager & insights editor, spending the last decade data diving, writing and editing articles about all things personal finance. His musings can be found across the web including on NASDAQ, MoneyMag, Yahoo Finance and Travel Weekly. Richard studied Media at Macquarie University, including a semester abroad at The Missouri School of Journalism (MIZZOU).
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