US bank regulator considering legal action against former SVB executives [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
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firstcitizens.com/about/who-we-are/annual-report
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Source: Yahoo! Finance
Federal Deposit Insurance Corporation Chairman Martin Gruenberg said in a statement that the agency was considering suing the former bank executives, who were not specifically named, due to their "breaches of duty" in mismanaging Silicon Valley Bank's portfolio before its abrupt collapse last spring. Gruenberg, a Democrat appointed by President Joe Biden, has said he plans to retire from the agency on Jan. 19. But the decision to authorize potential legal action was unanimously approved by the FDIC board, which includes both Democrats and Republicans. The FDIC took over Silicon Valley Bank (SVB) in March 2023 when the bank suffered a sudden run on its deposits after reporting that it needed to raise more capital to offset losses on its portfolio. Gruenberg said in his prepared remarks, which came as part of a closed meeting of the FDIC board, that the bank's leadership had mismanaged several aspects of the bank's finances, precipitating its collapse. In a bid to stave off a bro
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FCNCA
Earnings
- 10/24/24 - Miss
FCNCA
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- FCNCA's page on the SEC website