https://ir.svb.com/financials/sec-filings/sec-filings-details/default.aspx?FilingId=16483201
Item 1.03. Bankruptcy or Receivership On March 10, 2023, SVB Financial Group’s (the “Company”) wholly owned subsidiary, Silicon Valley Bank (the “Bank”) was closed by the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation was appointed as receiver. The Company is no longer the parent company of the Bank.