You recall the drama a few weeks ago when customers drained Silicon Valley Bank of much of its deposits. The Feds stepped in, seized the bank and arranged the sale to another institution.
You might have thought the SVB brand was so tarnished that the new owner, First Citizens Bank, would immediately rebrand all SVB branches "First Citizens," but you'd be wrong. The Silicon Valley Bank name lives on, as does "SVB." The new owners have launched a major campaign saying SVB is "fully committed to the innovation economy" and "trust is key to our partnership, and we're committed to regaining yours."
We're glad to see that, and we're glad to see the Wine Division, headed by Rob McMillan, remains alive and well.