Silicon Valley Bank Archives

First Citizen’s Silicon Valley Bank Division Provides $50MM Credit Facility to Olema Pharmaceuticals

Olema Pharmaceuticals obtained a new senior secured credit facility with an aggregate principal amount of up to $50 million. The credit facility is being provided by Silicon Valley Bank, a division of First Citizens Bank.

September 6, 2023 Olema Pharmaceuticals | Sean P. Bohen | Silicon Valley Bank Ian Koplin

First Citizens’ SVB Division Appoints New Heads of Global Payments & Digital Solutions

First Citizens Bank’s Silicon Valley Bank division named Martin Murrell head of global payments and Milton Santiago head of global digital solutions.

August 23, 2023 First Citizens Bank | Gagan Kanjlia | Martin Murrell | Milton Santiago | Silicon Valley Bank Ian Koplin

First Citizens’ SVB Division Appoints New Leadership for Life Science and Healthcare Sector

First Citizens Bank’s Silicon Valley Bank division named Jackie Spencer head of relationship management for life science and healthcare banking and Megan Scheffel head of credit solutions for its life science and healthcare practice.

July 28, 2023 First Citizens Bank | Jackie Spencer | Joan Parsons | Megan Scheffel | Silicon Valley Bank Phil Neuffer

First Citizens’ SVB Division Provides $145MM Credit Facility to Settle

Settle, a cash flow management platform, secured up to a $145 million credit facility with Silicon Valley Bank, a division of First Citizens Bank, increasing its capacity to support e-commerce and consumer brands and small businesses.

July 27, 2023 Alek Koenig | Brian Foley | First Citizens Bank | Settle | Silicon Valley Bank Ian Koplin

Silicon Valley Bank Amends Term Loan Facility with Augmedix

Augmedix amended its existing senior secured term loan facility with Silicon Valley Bank, a division of First Citizens Bank. The amendment may extend the interest only period by as long as 18 months from January 2024 to July 2025.

First Citizens Appoints Cadieux President of Silicon Valley Bank Commercial

First Citizens Bank appointed Marc Cadieux, a 30-year veteran of Silicon Valley Bank, president of Silicon Valley Bank’s commercial banking business. Based in the California Bay Area, Cadieux will lead the SVB Commercial team of more than 1,000 bankers.

June 9, 2023 First Citizens Bank | Marc Cadieux | Peter Bristow | Silicon Valley Bank Ian Koplin

First Citizens Cuts Staff Brought Over in Silicon Valley Bank Acquisition

According to Axios, following its acquisition of Silicon Valley Bank out of FDIC receivership at the end of March, First Citizens Bank fired approximately 500 employees brought over as part of the acquisition this week.

May 26, 2023 First Citizens Bank | Silicon Valley Bank Ian Koplin

First Citizens Claims HSBC’s Silicon Valley Bank Staffing Additions ‘Violated Federal Law’

Reuters reported that First Citizens Bank filed a lawsuit against HSBC after it hired “dozens” of former Silicon Valley Bank employees in April. According to Reuters, First Citizens is alleging that HSBC “violated federal law by hiring away the workers.”

May 23, 2023 David Sabow | First Citizens Bank | HSBC | Silicon Valley Bank Ian Koplin

First Citizens Bank Renews $14MM Credit Facility for Flux Power

Flux Power, a developer of lithium-ion energy storage solutions for the electrification of commercial and industrial equipment, renewed the available credit under its existing $14 million facility with First Citizens Bank.

HSBC Adds ‘Dozens’ of Former Silicon Valley Bank Employees to US Division

According to Reuters, David Sabow, the former head of technology and healthcare in North America for Silicon Valley Bank, is leading a team of “dozens” of former Silicon Valley Bank employees in joining HSBC’s U.S. division.

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