The lender that made nearly $10 billion from Silicon Valley Bank's failure


got a discount from US regulators when it agreed to acquire loans and assume deposits from the failed Silicon Valley Bank. On Wednesday it disclosed just how profitable that deal was.
The agreement provided the North Carolina lender with a one-time gain of $9.8 billion net of tax, contributing to an overall first-quarter profit of $9.5 billion.
The gain made the Raleigh,…

This story from was posted on 2023-05-10 by @birdsky.


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