SVB Parent Company Seeks Bankruptcy Amid Asset Sale Process

SVB Financial Group Pursues Chapter 11 to Sell Assets Outside the Commercial Bank
The former parent company of Silicon Valley Bank filed for Chapter 11 bankruptcy protection Friday in an effort to streamline the sale of its assets. Silicon Valley Bank itself isn't included in the reorganization filing since the FDIC took over the commercial banking business on March 10.

asset assets bank banking business commercial fdic filing financial isn march process protection sale silicon silicon valley silicon valley bank svb valley