Silicon Valley Bank was a commercial bank headquartered in Santa Clara, California. SVB was one of the largest banks in the United States and was the largest local deposit-based bank in Silicon Valley, with a market share of 25.9% as of June 30, 2016.
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First Republic Bank is safe thanks to Jp Morgan
Jp Morgan saves First Republic Bank by acquiring assets for $229 billion. The unexpected bailout of the second largest bank failure in US history.