PURCHASE AND ASSUMPTION AGREEMENT ALL DEPOSITS AMONG FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF SILICON VALLEY BRIDGE BANK, NATIONAL ASSOCIATION SANTA CLARA, CALIFORNIA FEDERAL DEPOSIT INSURANCE CORPORATION AND FIRST-CITIZENS BANK & TRUST...Purchase and Assumption Agreement • March 31st, 2023 • First Citizens Bancshares Inc /De/ • State commercial banks
THIS AGREEMENT, effective as of March 27, 2023, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION (the “FDIC”), RECEIVER of SILICON VALLEY BRIDGE BANK, NATIONAL ASSOCIATION, SANTA CLARA, CALIFORNIA (the “Receiver”), FIRST-CITIZENS BANK & TRUST COMPANY, organized under the laws of the State of North Carolina, and having its principal place of business in Raleigh, North Carolina (the “Assuming Institution”), and the FEDERAL DEPOSIT INSURANCE CORPORATION, organized under the laws of the United States of America and having its principal office in Washington, D.C., acting in its corporate capacity (the “Corporation”).
COMMERCIAL SHARED-LOSS AGREEMENTShared-Loss Agreement • March 31st, 2023 • First Citizens Bancshares Inc /De/ • State commercial banks
This Commercial Shared-Loss Agreement, including the Exhibits attached hereto and incorporated herein by this reference (collectively, this “Agreement”), is made pursuant to and as of the date of that certain Purchase and Assumption Agreement (the “Purchase and Assumption Agreement”) between the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER OF SILICON VALLY BRIDGE BANK, SANTA CLARA, CALIFORNIA (the “Receiver”), FIRST-CITIZENS BANK & TRUST COMPANY, organized under the laws of the State of North Carolina, and having its principal place of business in RALEIGH, NORTH CAROLINA (the “Assuming Institution”). Each of the Receiver and the Assuming Institution sometimes is referred to in this Agreement as a “Party.”
