Failed Bank List

Closed Friday, March 10, 2023 · Santa Clara, Santa Clara County, California

Silicon Valley Bank

By total assets Silicon Valley Bank is the third-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. Its estimated cost to the Deposit Insurance Fund makes it the costliest failure on FDIC record since 1934. No bank in California had failed for eight years, since Frontier Bank, FSB D/B/A El Paseo Bank closed in 2014.

On the books, 2015 to 2022

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$60B$120B$180B$240B2016201720182019202020212022Closed
Total assets peaked at $218 billion in the first quarter of 2022. In the three years to the first quarter of 2022, Silicon Valley Bank's assets grew 270%. Equity capital stayed close to 7% of assets from the first quarter of 2015 to the last report. Every reporting year on this chart closed with a net profit.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$2.4B2015: $307 million20156.9%2016: $380 million20167.8%2017: $447 million20177.5%2018: $934 million20188.1%2019: $1.0 billion20197.2%2020: $826 million20206.2%2021: $1.3 billion20217.1%2022: $2.0 billion20227.4%

Size against the other 2023 failures

Total assets of the 5 banks that failed in 2023, log scale$10M$100M$1B$10B$100B$1,000B
Total assets of each 2023 failure, log scale; Silicon Valley Bank in red.

By assets it ranked second of the 5 failures in 2023. Of the 239 failed banks on record in California since 1934, it ranks second by size. Across the failures of 2023, the median estimated loss came to 9.0% of assets. In the size ranking of that year, just above it was First Republic Bank of San Francisco, California ($213 billion, loss 7.3% of assets); just below, Signature Bank of New York, New York ($110 billion, no estimated loss). Every 2023 failure in the explorer.

Failures in California

It was one of two banks in California to fail in 2023. The next was First Republic Bank of San Francisco, on May 1, 2023. Santa Clara County has 6 failed banks on FDIC record since 1934. The others: The Bank of Northern California (1986), Bank of Los Gatos, National Association (1987), Cabrillo Savings Bank (1989), Saratoga Savings and Loan Association (1989), American Bank and Trust Company (1993).

Bank failures in California per year, 1980 to 2026081624321982: 21983: 61984: 71985: 111986: 171987: 121988: 31989: 281990: 211991: 211992: 181993: 241994: 101995: 51996: 21999: 12000: 12003: 12008: 52009: 172010: 122011: 42012: 12014: 12023: 22026: 119801990200020102020
Per year since 1980, 2023 in red. Every California failure

The acquiring bank

First-Citizens Bank & Trust Company of Raleigh, North Carolina took over twelve failed banks between 2000 and 2026. The others:

All 12 banks it took over.

  • Temecula Valley BankTemecula, CA · July 17, 2009
  • Venture BankLacey, WA · September 11, 2009
  • First Regional BankLos Angeles, CA · January 29, 2010
  • Sun American BankBoca Raton, FL · March 5, 2010
  • United Western BankDenver, CO · January 21, 2011
  • Colorado Capital BankCastle Rock, CO · July 8, 2011
  • Capitol City Bank & Trust CompanyAtlanta, GA · February 13, 2015
  • North Milwaukee State BankMilwaukee, WI · March 11, 2016
  • First CornerStone BankKing of Prussia, PA · May 6, 2016
  • Harvest Community BankPennsville, NJ · January 13, 2017

FDIC certificate 24735 · loss estimate as of July 31, 2026 · How to read this page