They've been acquired by a newly formed bank from the FDIC. I'm not sure that bank will be around much longer than it takes to mark their assets to market, since the press release said they didn't know:
> At the time of closing, the amount of deposits in excess of the insurance limits was undetermined. The amount of uninsured deposits will be determined once the FDIC obtains additional information from the bank and customers.
No bank is gonna buy another bank until that is cleared up.
I love the optics of remnants of Silicon Valley bank being owned by the gov alongside Fannie and Freddie. Behold the graveyard of poor risk management.
