Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation,

SVB Closed

Stay calm d'not panic

Depositors should remain calm and not panic. While the situation may be concerning, panicking will not help resolve the issue.

Monitor the situation

Depositors should keep a close eye on news and updates related to the SVB crisis. This will help them stay informed and make well-informed decisions.

Review your accounts

Depositors should review their accounts to ensure that they have a clear understanding of their deposits and any potential risks

Deposits are insured 

your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per account type.

FDIC Toll free No

 If SVB depositors have any questions or concerns, they should contact the FDIC toll-free at 1-866-799-0959

Resume Banking

Main office, branches, Internet banking of SVB will reopen on Monday, March 13, 2023. with normal business hours, and banking activities

Be Prepared

Be prepared for potential disruptions in banking services or delays in accessing your funds as the situation unfolds.

Keep records and documentation

This will help in case there are any issues or discrepancies in the future.

Diversify Portfolio

While the situation is still evolving, there are steps you can take to mitigate any potential risks and protect your business.