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Not enough. They’ve had over $70B in withdrawals. There may be more decisive measures taken in the next few days to try to shore up confidence. Really too bad because it’s the only bank I could ever stand dealing with.
That’s fine- happy for you. I wasn’t comfortable with the product when it was offered to me in 2018
$70 b of withdrawals. Risk management can’t trump the psychology of people taking out their money. Domino effect bank run. If you run a company with millions in uninsured deposits and you know there is no risk at a wells BA etc why chance it. Not saying it’s right but that is what happens during a bank run.
They better. I do a ton of commercial RE finance for them and there’s no way our firm keeps that work if they change control.
🏃🏃🏃🏃
I hope so, they have the lowest mortgage rates in LA
Depends on how they go “under?” If it’s a formal bankruptcy it goes to the bankruptcy estate. Realistically for this situation the bank would get controlled by the FDIC and the assets will get auctioned off or someone could try to rescue the bank.
Their bankers seemed quite confident on LinkedIn discussing SVB so I assume they are fine